Manufacturing Financial News

Chinese online retailer Temu has been told to suspend operations in Vietnam after it failed to meet an end-of-November deadline to register with the country's Ministry of Industry and Trade

immediate financial needs. These range from working capital expenses, purchasing raw materials and consolidating debt. Consumers suggested that they need working capital to cover salaries and rent, pay utility bills, vendors and suppliers, and to manage routine day-to-day operations. The report by Paisabazaar shows that less than 30% of businesses applied for loans on future growth initiatives like marketing, brand building, upgrading machinery, or acquiring additional office space for expansion. The study revealed that nearly 45% of business loan applications were driven by the need for working capital expenses, highlighting the persistent liquidity challenges and short term cash flow gaps faced, especially by small businesses, in managing their day-to-day operations.

Eurogrip Tyres, a leading brand specialising in two-wheeler, three-wheeler, and off-highway tyres, has appointed cricket legend Mahendra Singh Dhoni as its brand ambassador, on Thursday. As part of this collaboration, Dhoni will endorse the Eurogrip brand and its entire product portfolio, the company said. TVS Srichakra Ltd, the manufacturer of Eurogrip, TVS Eurogrip, and TVS Tyres, was established in 1982 and operates as a key vertical of the USD 3 billion TVS Mobility. M S Dhoni, known for his dependability, performance, and passion for riding, embodies the values that align with Eurogrip Tyres' vision of empowering riders with control and confidence on every journey, the company said in a statement.

«The industry is closely working with the government on improving the energy efficiency as well as reducing the global warming. So, this industry is also regulated in that manner,» says B Thiagarajan, MD, Blue Star. The channel check by Motilal Oswal which is a securities firm, suggests that the festival demand was not very strong for consumer durable. Diwali and Durga Puja, since they were celebrated closely, do you think they cannibalised the sales for each other? B Thiagarajan: As far as room air conditioners is concerned, we had a fantastic festival season as well. In fact, the growth was more than 30%. It is probable that other durables did not do well, but very clearly air conditioners business has been growing and it continues even today.

Agarwal Toughened Glass will debut on the NSE SME platform on Thursday. Ahead of the listing, the company's shares were trading with a GMP of Rs 32 in the grey market. Considering the upper price band of Rs 108, the stock is expected to list with a premium of 30% over the issue price.

SME IPO of Emerald Tyre Manufacturers will open for subscription today and will close on December 9. The company aims to raise Rs 49 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

Subscribe to enjoy similar stories. New Delhi: An increase in the goods and services tax (GST) rate on certain readymade garments, currently being discussed by a ministerial panel, could be a dampener for the ongoing wedding season, textile manufacturers said. According to estimates from the Clothing Manufacturers Association of India (CMAI), bridal wear accounts for 10-12% of the total clothing market, underscoring its significance.

Subscribe to enjoy similar stories. In stock trading, technical analysis is the compass that guides traders toward profitable decisions. However, with a dizzying array of charting techniques and timeframes, many traders find themselves lost in a maze of options.

Tata Electronics is looking to expand beyond beingjust an Apple supplier and is in talks with companies like Microsoft, Dell, HP and several other large companies to onboard them as clients. The homegrown electronics manufacturing services (EMS) player is doing this in a bid to not only diversify but also be India's Foxconn — following a model that is much like the Taiwanese contract manufacturing giant Foxconn, experts said. While the company «has its hands full» currently with work for Apple iPhones, sources said that this is part of the company's strategy that it is keen to set in motion rapidly.

China's latest efforts to kickstart growth haven't had a broad impact yet, data and company earnings show, indicating the world's second-largest economy won't be roaring back soon.

Indian Navy a unique operational capability, but also lift the defence manufacturing ecosystem, with a breakthrough moment expected for the 'Make in India' initiative within the next five years, Navy chief Admiral Dinesh K Tripathi said. In an interview with ET on the occasion of Navy Day, which was celebrated in Odisha for the first time on Wednesday with an operational demonstration, he said indigenous nuclear attack submarines (SSNs) will add a significant new capability, with the first of the new boats expected to join service by 2036. Adm Tripathi said the plan for the project (estimated to cost ₹35,000 crore for the first two boats) is likely to be in line with the construction of India's nuclear missile submarines (SSBNs) in which the Navy had the lead on design and took assistance of the defence industry in manufacturing.

drug samples tested for quality, 2,988 have been declared as not of standard quality and 282 were found to be spurious, according to government data for the year 2023-2024. Prosecutions were launched in 604 cases for manufacturing, sale and distribution of spurious drugs, the data revealed. The government has been running a major drive against spurious and substandard drugs. As per the data from the Central Drugs Standard Control Organisation (CDSCO) there are approximately 10,500 units in the country which are manufacturing different types of dosage forms and APIs. «The govt has been carrying out raids in pharmaceutical companies in various states and those which were found to be in violation of regulations and were issued show cause notices,» said a senior person in the know.

As per EPFO, “Dear Employers, the date of UAN activation and Aadhaar seeding of Bank Account has been extended till 15th December. Ensure to do the same for all employees who have joined in the current financial year, starting with the latest joinees, to avail the benefit of the Employment Linked Incentive scheme.”

revenue from operations and a profit of Rs 3.72 crore during financial year ended March 2024. To fund its strategic expansion plans and enhance operational capabilities, the company is planning to launch an initial public offering (IPO) very soon, a release said.

semiconductor chips, integrated circuits, memory chips, parts of electronic integrated circuits and micro assemblies, and amplifiers worth Rs 1.71 lakh crore in fiscal 2023-24, the minister of state for electronics and information technology, Jitin Prasada, told Lok Sabha on Wednesday. To offset the semiconductor import bill and kickstart the homegrown chip manufacturing ecosystem, the government has approved five semiconductor chip manufacturing and assembly projects with a cumulative investment of Rs 1.52 lakh crore, Prasad said in reply to a question in the lower house of the Parliament. Apart from the chip manufacturing and assembly units, the government has also approved proposals from nearly 15 semiconductor design companies under the Design Linked Incentive scheme, the minister of state said.

: Electric two-wheeler manufacturer PURE EV announced plans on Wednesday to expand its dealership network to over 320 outlets across India by mid-2027. The company plans to launch PuREPower in 2025, leveraging its vehicle battery and powertrain platform. «Over the next 30 months, we aim to add 250 new dealerships, expanding our network to over 320 across India. This growth will be fueled by increasing demand for long-range scooters, electric motorcycles, large B2B contracts, and our entry into the household brand segment,» PURE EV Founder and MD Nishanth Dongari said. The company currently operates with 70 dealerships.

Subscribe to enjoy similar stories. Passenger vehicle (PV) sales, which have been struggling to maintain momentum throughout 2024, experienced yet another setback in November following the festive season-led surge, according to a Mint analysis of vehicle-registration data from the ministry of road transport and highways’ Vahan portal. PV sales contracted 7.6% year-on-year, with registrations dropping to 400,746 units in November from 433,677 units a year ago, showed the data.

Tan, a well-respected semiconductor industry veteran who has long been seen as a contender for CEO at Intel, has been approached by Intel's board in recent days to gauge his interest in taking up the job, the sources said, requesting anonymity as the discussions are confidential. Intel's board is mostly evaluating outsider candidates for the role and has also approached Marvell Technology CEO Matt Murphy, two of the sources said.

Abha Power and Steel will debut on the NSE SME platform on Wednesday. Ahead of the listing, the company's shares were trading with a GMP of Rs 15 in the grey market. Considering the upper price band of Rs 75, the stock is expected to see a listing premium of just over 20%.

FSSAI has reclassified packaged drinking water and mineral water as a high-risk food category, mandating stricter regulatory controls and annual facility inspections. The move, effective immediately following an order dated November 29, requires manufacturers to undergo mandatory third-party food safety audits and comply with enhanced quality standards. Central licence holders in this category must now submit to annual inspections aimed at mitigating potential health risks associated with packaged water production. The reclassification by the Food Safety and Standards Authority of India (FSSAI) follows recent amendments to the Food Safety and Standards (Prohibition and Restrictions on Sales) Regulations, 2011, which previously removed mandatory BIS certification requirements for certain food products.

Indian exports, commerce and industry minister Piyush Goyal said in Lok Sabha. This has resulted in increased time for goods to reach international markets. “No shortage of containers has been, however, reported on account of the longer voyage time or the Red Sea conflicts issues and Russia-Ukraine War,” he said. He also said limited demand for containers manufactured in India and accordingly the limited manufacturing capacity for containers in the country.