Manufacturing Financial News

₹22,000 crore through rights issue. The board of the public sector oil marketing major on Friday approved the raising of capital through rights issue. In a regulatory filing, the company said its board has approved “raising of capital by way of issue of equity shares on right basis upto an amount not exceeding ₹22,000 crore, subject to receipt of necessary statutory approvals as may be required".

electric two-wheelers under its flagship incentive scheme in the current financial year and is ready to step up allocations if needed. The Centre already has a rolling plan to subsidise 564,000 electric two-wheelers under the second iteration of the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) programme and is working to expand this by another half a million. Last quarter, the government increased the subsidy allocation for electric two-wheelers by 75% to Rs 3,500 crore from Rs 2,000 crore provided in the budget following an upward revision in subsidy that quickly depleted the allocation.

Green Hydrogen Transition (SIGHT) programme. The SIGHT programme is a part of India's National Green Hydrogen Mission The pre-bid meeting will be held on July 27 and the last date of submission is September 5.

By Lucia Mutikani

Investing.com — U.S. stocks were rising despite a weaker-than-expected jobs report and renewed fears that the Federal Reserve will continue to raise interest rates.

electrolyser manufacturing capacities of 1,500 MW under the first tranche of the Strategic Interventions for Green Hydrogen Transition (SIGHT) programme. The SIGHT scheme is a part of India’s National Green Hydrogen Mission launched in January. The Solar Energy Corporation of India, under the Ministry of New and Renewable Energy, is the implementing agency for the scheme. The pre-bid meeting will be held on July 27 and the last date of submission is September 5, as per the bidding documents. With the objective to indigenously developed electrolyser technologies, bids are invited in two separate buckets. The capacity offered under the tranche for electrolyser manufacturing capacity based on any stack technology is 1,200 MW, while the rest is for indigenously developed stack technology.

Indian Railways may soon change the colour combination of the semi-high-speed train Vande Bharat Express. At present the colour scheme of Vande Bharat consists of white colour with blue strips but it may change soon according to some reports. Railway Minister Ashwani Vaishnaw will visit the Integral Coach Factory(ICF) in Chennai where the manufacturing of the Vande Bharat trains are being done and is likely to approve the new colour scheme according to a railway official.

US stocks slipped after hiring data remained high enough to quash speculation the Federal Reserve would leave interest rates unchanged later this month.

The government will hold discussions with global retailers and domestic toy manufacturers on ways to promote toy exports from India in a meeting on Saturday, an official said.The official said that top retailers, including Hasbro, Walmart, Spinmaster, Ikea, Lego, Simba Dickie, IMC, Hamleys, Lulu, and Sanrio, have been invited for the deliberations.Representatives from Indian companies such as Microplastic, Aequs, Funskool, Playgro, Dreampalst, OK Play, Universal, and Play Shifu are also expected to participate in the meeting.

Greater Noida West has emerged as a shining star in the real estate landscape of the National Capital Region. Strategically located near Noida and Greater Noida, this region, consisting of a cluster of prime sectors, has proven to be a goldmine for investors and buyers alike. The existing and proposed developments in Greater Noida West have significantly piqued the interest of potential buyers, investors, and developers.

U.S. automobile safety regulators are zeroing in on changes that Tesla has made to its Autopilot partially automated driving system including how it makes sure drivers pay attention and how it detects and responds to objects

NEW DELHI : Vedanta Limited, India’s natural resources and technology conglomerate, announced the addition of Semiconductor and Display Glass ventures to its diversified portfolio, the company said in a statement here today. “We believe that semiconductors and display fab are at the core of any electronics ecosystem. This will also spawn the creation of multiple ancillary industries and opportunities both downstream and upstream, creating jobs and will be a GDP multiplier," said Akarsh Hebbar, Global MD, Vedanta’s Semiconductor and Display Business.

Vedanta Ltd said on Friday that it would take over from its holding company the ownership of a joint venture with Taiwan's Foxconn that was set up to make semiconductors.Vedanta also said it would also take over a display glass manufacturing venture from Volcan Investments, Vedanta's holding company. Volcan and Foxconn signed a pact last year to invest $19.5 billion to set up semiconductor and display production plants in the state of Gujarat in west India to tap into the country's plans to become an electronics major.

₹400 crore, reaching a fresh 52-week high of ₹826.35. Over the past 1 months, the stock of this auto components and equipment company has surged by 30 percent. The stock is up 41 per cent year-to-date and 55 per cent in the last one year.

The stock surge of electric vehicle manufacturers Tesla, Rivian and XPeng has triggered a fallout of some $8bn for short-sellers.

Ideaforge Technology ended 93% higher on the bourses following a stellar debut on Friday. The dronemaker's stock opened at Rs 1,305.10 on the Bombay Stock Exchange, a whopping premium of 94.21%.

Janet Yellen on Friday criticized the Chinese government's harsh treatment of companies with foreign ties and its recent decision to impose export controls on certain critical minerals, suggesting that such actions justify the Biden administration's efforts to make U.S. manufacturers less reliant on China. Yellen delivered the forceful defense of American industry on her first day of meetings in Beijing during a high-stakes trip to ease tension between the United States and China.

₹100-150 crore in its Bhiwadi plant to bolster capacity to 60,000 tonnes per annum, its vice-chairman and managing director, Pragun Khaitan, told Mint in an interview. The latest planned investment follows the company's ₹250 crore infusion into the facility in 2022, after an initial ₹100 crore investment for acquisition in 2021. This will bring the total investment to roughly ₹500 crore, aiming to meet increasing demand.

Reliance Jio has introduced a budget-friendly 4G phone called 'Jio Bharat' at an affordable price of ₹999. The phone's sales commenced on July 7th, and Reliance Jio aims to eliminate 2G technology from India through the widespread adoption of this device. The Jio Bharat Phone is specifically targeted towards individuals who are unable to afford expensive smartphones but still rely on basic features.

₹458.87 crore. The aircraft will be procured under the ‘Buy (Indian) Category’, the ministry said in a statement.

Olectra Greentech Ltd hit a 52-week high of ₹1251.95 on the BSE today, as investors continued to pile in on the stock. Olectra has a market cap of 10,107 crores and this order of 10,000 crores is almost the size of total market cap of the company.  The contract is on a Gross Cost Contract basis for a period of 12 years. EVEY will procure the buses from Olectra and they will be delivered over a period of 24 months.