Manufacturing Financial News

Sai Life Science (SLSL), a contract research, development and manufacturing organisation (CRDMO), is rolling out an IPO of ₹3,043 crore comprising a fresh issue of ₹950 crore and an offer for sale of ₹2,093 crore. The issue gives a partial exit to private equity investors TPG Asia and HBM. The promoter share will be diluted from 41.8% to 35.2%. The issue proceeds are going to be used for repayment of borrowings.

Boeing is resuming production of its bestselling plane, the 737 Max

Subscribe to enjoy similar stories. New Delhi: On 29 June 2020, two weeks after Indian and Chinese troops brutally clashed at the Galwan Valley, India’s ministry of electronics and IT said it was pulling the plug on 58 Chinese apps operational in the country. Among them was TikTok—the short-form video app was hugely popular back then, with over 200 million users in India.

morphine and 100 times stronger than fentanyl. The alarming resurgence of this drug poses significant risks, especially as overdose deaths linked to carfentanil have surged. According to the CDC, nearly 70% of all U.S. overdose deaths last year involved illegally manufactured fentanyls (IMFs), with carfentanil playing a dangerous role. Initially linked to a wave of deaths in 2016, carfentanil had largely disappeared from the drug supply until recently. Between January and June 2024, overdose deaths involving carfentanil spiked approximately sevenfold, rising from 29 to 238 cases compared to the same period in 2023.

EEPC India, the apex engineering exports promotion body, has proposed introducing a 25% income tax slab for MSME manufacturing units that are partnerships, LLPs, or sole proprietorships. In its pre-Budget memorandum to the Ministry of Micro, Small and Medium Enterprises, EEPC India also suggested increasing the benefits limit available under the Interest Equalization Scheme (IES) to Rs 10 crores from Rs 50 lakh now and offering 100% depreciation for investment in solar power generation by MSME units. Pankaj Chadha, Chairman, EEPC India said in a statement, «Private limited companies currently pay 25% income tax, while entities like partnerships, LLPs, and sole proprietorships pay approximately 35% after including surcharges. We therefore urge the government to introduce a 25% income tax slab for MSME manufacturing units that are partnerships, LLPs, or sole proprietorships. The condition would be that the extra 10% saved must be reinvested in the business.»

Subscribe to enjoy similar stories. Between 2017-18 and 2023-24, the number of Indians working in agriculture rose by 68 million. As Himanshu, an associate professor at the Jawaharlal Nehru University, pointed out in a recent Mint column, this is a reversal of the trend between 2004-05 and 2017-18, when this number declined by 66 million.

Subscribe to enjoy similar stories. Sales of small and mid-sized cars have long served as a barometer of middle-income consumption and economic health. When these numbers shift, they often reflect deeper trends rippling through the broader economy.

Reliance Green Hydrogen, ReNew E-Fuels, L&T Energy, Waaree Energies, AM Green, GH2 Solar and Avaada GreenH2 are among the 13 companies that have bid for incentives to produce green hydrogen under the second tranche of the Strategic Interventions for Green Hydrogen Transition (SIGHT) scheme. The technical bids for incentives under the second tranche for green hydrogen under SIGHT scheme were opened on Monday. The last day for submission was December 6. Maximum incentive under the tranche in the scheme is Rs 5,400 crore.

Subscribe to enjoy similar stories. Close on the heels of a surprisingly weak gross domestic product (GDP) growth reading, automobile sales data, seen as a an important indicator of economic activity in India, has spelt another round of disappointment. Retail sales of passenger vehicles in November fell 14% from a year earlier, according to data issued by the Federation of Automobile Dealers Associations on Monday.

Lenovo in the next two quarters, will have its PC plant in Puducherry manufacture GPU-based servers that will also serve as an export base for the company, said Shailendra Katyal, MD, Lenovo in an interview with ET. 100% of Motorola phones, a Lenovo subsidiary, is already made in India through Dixon, its EMS partner. It exports 1.5 million phones to markets like North America. «The forecast for manufacturing in India next year is pushing $3.5 billion,» Katyal said, adding that around $1.5 billion worth of hardware will be exported. Lenovo's Bengaluru lab is also one of the four facilities of the company in the world for server innovation. The lab also works on hardware, software and firmware. After HP, Lenovo is number two in the PC/tablets market in India, and is also in the third position in the servers/storage market.

Prime Minister Narendra Modi said, while asserting that a large manufacturing base is important as the world needs an economy that continues to function strongly even during the biggest crises. Addressing the Rising Rajasthan Summit on Monday, Modi said development, led by the mantra of 'Reform, Perform and Transform,' is visible in every sector, and that every expert and investor in the world is very excited about India. He said the role of the PLI scheme — increasing manufacturing in India — is also expanding.

UBS Billionaire Ambitions Report 2024' released last week, wealth of India's billionaires surged 42% to over $905 bn during the last FY, making it the third-largest 'bill-base' behind the US and China. Rising population of Indian billionaires, too, is drawing international attention with their numbers poised to jump over the next decade. Rapidly growing economies tend to be generous with entrepreneurs who push the growth envelope. India's growth spurt will have a deep impact on manufacturing, which is expected to serve as the nursery for entrepreneur billionaires. But the similarities being drawn with China's experience may not be quite apt. India's growth is likely to be dependent significantly more on services. There is a pretty well-established method to acquiring scale in manufacturing that relies heavily on capital. Services offer greater creativity to entrepreneurs wanting to scale up. A decade later, India's billionaires could very well surprise on the upside. India is also gaining access to capital and tech. Improvements in labour force endowments through stepped up social security will contribute to the process. The country is also placed favourably in the evolving landscape of globalisation driven by services as protectionist walls are erected in manufacturing.

Shares of Nvidia slid early Monday after China said it is investigating the high-flying U.S. microchip company over suspected violations of Chinese anti-monopoly laws

Bloomberg’s Mark Gurman, the new modem, codenamed "Sinope," is set to replace the Qualcomm chips currently used in iPhones, promising improved power efficiency and a more compact design.Likely to debut in 2025, the Sinope modem is expected to first appear in the iPhone SE, followed by a model codenamed "D23," which is anticipated to be the thinnest iPhone to date, adds the report. This reduction in component size is predicted to pave the way for larger batteries, enhanced camera systems, and an overall sleeker design.Apple’s move towards its own modem technology is said to have far-reaching implications beyond smartphones.

Indian Navy's Russian-manufactured guided missile frigate INS Tushil was commissioned into the force at Russia's coastal city of Kaliningrad on Monday. Defence Minister Rajnath Singh, Chief of Naval Staff Admiral Dinesh K Tripathi and several other senior Indian officials were present at the commissioning ceremony. INS Tushil is expected to significantly bolster the Indian Navy's operational capability in the Indian Ocean, a region that has witnessed increasing forays by China's PLA Navy in the last few years. The warship has been constructed in Russia as part of an over USD 2.5-billion deal that New Delhi had inked with Moscow in 2016 for four stealth frigates for the Indian Navy.

Credit cards come in two broad categories – personal and business. The fine print of personal credit cards clearly says that they cannot be used for business spending, and hence separate cards are issued for business expenses. However, the majority of self-employed or business owners bill some of their business expenses to their personal cards. This begs the question: How do banks allow this?

production linked incentive (PLI) schemes have led to investments of over Rs 1.25 lakh crore, Prime Minister Narendra Modi said Monday. Speaking at the Rising Rajasthan Global Investment Summit 2024, he said the role of PLI scheme in increasing manufacturing in India is also increasing. «There is a lot of enthusiasm in Electronics, Specialty Steel, Automobiles and auto components, Solar, and Pharmaceuticals,» PM Modi said. «Investment of about Rs 1.25 lakh crore has been made in due to PLI scheme. Products worth about Rs 11 lakh crore have been manufactured and exports have increased by Rs 4 lakh crore,» he said.

Subscribe to enjoy similar stories. As US president, Joe Biden charted a new economic path for the Democrats by siding unabashedly with the working class and introducing a wide range of industrial policies to reinvigorate US manufacturing, reshore supply chains and promote the green transition. Most of these new policies made economic sense, and like many other progressives, I thought they made political sense as well.

«The broader markets on its part is way too expensive than historical numbers. One-and-a-half times deviation from the mean when you come to valuations on the small and midcap index whether it is 2007 levels or 2017, 18, 19 when you saw massive rally in the broader market. So, there is room for cautiousness to be exercised, not that I am very bearish on the market but I think some caution is warranted,» says Manish Sonthalia, Emkay Investment Managers. This market has made a very decent comeback. IT index at an all-time high. Bank Nifty marching towards an all-time high. Has that sharp correction or the sharp correction which hit us in October, November, do you think that is over? Manish Sonthalia: So, I am not in the camp who believe that the worst has been over, not that the markets will fall, but the markets can fall and this is based on whatever we are seeing at the ground level. Earnings slowdown, consumer leverage actually blowing off.

Subscribe to enjoy similar stories. Anant Goenka, vice-chairman of RPG Group, recalls a chance meeting with an HSBC banker during a flight from Delhi to Mumbai some six months ago, which sparked the conglomerate's interest in acquiring Michelin's off-highway tyres and tracks business. In the next 4-6 months, Ceat faced a brief process as it had to navigate competing interests from Indian and Chinese tyre manufacturers that were also pursuing Camso.

Subscribe to enjoy similar stories. Mumbai: Nepal traditionally celebrates Kukur Tihar, a Diwali festival to worship dogs (and lately Biralo, or cats) as loyal and loving friends. Japan has an entire island popular with tourists, where cats outnumber its human residents.