Manufacturing Financial News

Subscribe to enjoy similar stories. India, the third largest electricity producer, is gradually shifting to renewable sources of energy to meet its rising power demand. The country's installed solar power capacity stands at 92.19 gigawatts (GW), a 35x growth since 2014, according to the data as of October 2024.

Bank of Baroda. The report highlighted that factors like favorable monsoon conditions, and higher reservoir levels are likely to strengthen rural demand, increase farm incomes, and contribute to a positive economic outlook. It said, «Agriculture growth expected to clock robust growth in the same period (Second half of FY25)»

Subscribe to enjoy similar stories. Poll managers in the BJP must be heaving a sigh of relief: the underwhelming gross domestic product (GDP) data for the July-September 2024 quarter has been released well after the Maharashtra assembly polls were done and dusted. Logging disappointing year-on-year growth of 5.4%, the GDP data print for the second quarter of 2024-25 is not only much below consensus estimates from leading economists and analysts, but also offers a contrast from the economic narrative presented by top bureaucrats and economic administrators.

hotels are coming up in India's manufacturing hubs, driven by the growing needs of business travellers for quality accommodation. Hotel brands such as Marriott, Hyatt, Orchid, Regenta, Vivanta and Ginger are setting up properties in industrial belts such as Vithalapur, Talegaon, Chakan, Bhiwandi, Pithampur, Kalinganagar, Sanand and Hosur. While visiting executives used to stay in hotels in cities close to these industrial areas in the past, increasing manufacturing activities and traffic woes are making them seek accommodation close to their factories. At Vithalapur, a five-star property, the Courtyard by Marriott and Hyatt Place, is expected to become operational within the next 12 months, underscoring the demand for premium hospitality options in this fast-evolving industrial hub over a two-hour drive from the Ahmedabad city. In the automotive town of Talegaon on the outskirts of Pune, the recently opened 100-room Fern Residency has gained traction among business travellers. Pithampur in Madhya Pradesh has seen mid-market offerings like Click Hotel and Sayaji, riding on robust corporate demand from the manufacturing sector. Chakan in Pune district and Bhiwandi near Mumbai are also attracting attention, with Ginger Hotel developing 200-room properties in both locations. These developments reflect the broader trend of hospitality players expanding to locations with significant manufacturing activity.

Subscribe to enjoy similar stories. New Delhi: The production-linked incentive (PLI) scheme—one of the ways in which this government was hoping to increase manufacturing in India—is going through a slowdown, with planned expansions to the programme being put on hold.

Sensex and Nifty ended the week nearly 1% higher, marking the second consecutive week of advances amid mixed cues. While easing geopolitical tensions, favorable state election results and MSCI rebalancing supported the market, FII selling limited the upside. «The Indian market is increasingly witnessing severe bouts of volatile trading, as the gyration from positive to negative zones has been very sharp owing to stretched valuation concerns and the lingering selloffs from foreign investors. Despite the recovery, there is no firm trend visible due to lack of fresh positive triggers,» Prashanth Tapse of Mehta Equities said.

It has, however, cast a shadow on several other sectors—it has pushed up the prices of poultry feed and cooking oils and hit the wallets of consumers and the profits of oilseed farmers.

track slab manufacturing factory has been established near Surat to support India's first bullet train project, marking a major milestone in the country's high-speed rail infrastructure, an official release said on Saturday. The factory is designed to produce high-capacity ballastless track slabs using advanced Shinkansen technology, the release added. Located in Kim village the the project site ensures efficient logistics for the bullet train construction and timely delivery of track slabs.

Property Share Investment, Nisus Finance Services and Emerald Tyre Manufacturers. Apart from these new IPOs, the Street will see 8 listings including that of Suraksha Diagnostic, which is currently open for public subscription.

Borana Weaves Limited, which specializes in the production of unbleached synthetic grey fabric, has filed its Draft Red Herring Prospectus (DRHP) with markets regulator SEBI for an IPO. The issue size will be of up to 70,00,000 equity shares with a face value of ₹10 each, all of which will be issued as a fresh issue. Borana said its objective is to finance the cost of establishing a new manufacturing unit to expand its production capabilities to produce grey fabric at Surat. It also aims to secure funding for incremental working capital requirements and for general corporate purposes.

Subscribe to enjoy similar stories. India's push for local manufacturing is prising open a new business frontier for domestic telecom equipment manufacturers.

The sharply lower print will dent the full-year growth number while intensifying pressure on the Reserve Bank of India (RBI) to advance interest rate cuts. Gross domestic product (GDP) growth was 6.7% in the April-June period and 8.1% in the second quarter of FY24. Chief economic advisor V Anantha Nageswaran said the unexpected deceleration was an isolated development.

Dixon Technologies Friday said it has entered into an agreement with Taiwanese original design maker Compal Electronics to make Google Pixel devices in India, as the US major strives to gain a foothold in the world’s second largest smartphone market. Dixon becomes the second contract manufacturer for Google who had started making Pixel phones locally with Foxconn subsidiary Wow Tech at their Chennai facility. “This is a significant opportunity for Dixon and marks an exciting step in our growth and commitment to delivering cutting edge, high quality products to the global and domestic market,” Atul B. Lall, Vice Chairman of Dixon Technologies said in a notice to the stock exchanges.

Subscribe to enjoy similar stories. The Indian economy experienced a big jolt in the July-September quarter of 2024-25, with the real GDP growth rate slowing to 5.36%, the lowest in seven quarters, data released by the statistics ministry on Friday showed. Not only was this sharply lower than the projection of 7% by the Reserve Bank of India but also lower than the median estimate of 6.5% by 26 economists in a Mint poll.

Subscribe to enjoy similar stories. Electric-vehicle startups were struggling before the election. Donald Trump’s victory could send them into a tailspin.

Canada failed to cultivate new trade corridors that could have helped to mitigate the potential impact of Donald Trump’s tariff threats ahead of his return to the White House, experts tell Global News.

«And of course, we have seen profitability in some of the big manufacturing companies come down, which is also going to weigh on growth, so on the whole domestic demand contribution to growth we think will be softer than expected,» says Sonal Varma, Nomura. This 6.5% figure for Q2 GDP, is it closer to your expectation as well? Sonal Varma: We think it will be closer to the lower end of that range. So, we are expecting Q2 at 6.3%. So, slightly below consensus expectations of 6.5% and also below RBI’s forecast of 7%. I mean, in particular, in our view, we are likely to see a bigger drop in private consumption. Even fixed investment where we saw government spending pick up, our view is the private side of investment, things like construction activity indicators have been quite soft. And of course, we have seen profitability in some of the big manufacturing companies come down, which is also going to weigh on growth, so on the whole domestic demand contribution to growth we think will be softer than expected.

NSE SME platform on Friday. Ahead of the listing, the company's shares were trading and had no GMP in the grey market. This implies a flat to negative premium on debut. However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.

Hindustan Aeronautics Limited (HAL), DK Sunil, is visiting Russia ahead of defence minister Rajnath Singh's Moscow visit from December 8-10. Sunil is in Russia reportedly for clinching a deal for licensed manufacturing of 240 AL-31FP aero engines for Su-30MKI fighter jets presently in service with the Indian Air Force. The twin-engine Su-30MKI are due for upgrade to enhance their operational lives. Recently, HAL secured a contract worth ₹26,000 crore (about $3.1 billion) for the supply of 240 AL-31FP engines for Su-30MKI fighter jets, which are integral to India's air force fleet.

supply chain and manufacturing capabilities. Fast-moving consumer goods (FMCG) major ITC too is focusing on digitising its business strategies, so it remains not only agile but also resilient and efficient, ready to adapt to an ever-changing landscape. In an interaction with ET Digital, B Sumant, Executive Director, ITC Ltd, explains how the FMCG company is embedding digital innovation in its operations, minimizing the environmental footprint while maintaining high-performance levels. Our initiatives are anchored on synchronizing planning and forecasting, ensuring a resilient supply chain, adds Sumant. Edited excerpts: The Economic Times (ET): Can you list a few key strategies companies are implementing to enhance resilience in their supply chains especially in the face of global disruptions? B Sumant (BS): Digital is at the core of everything we do at ITC today. We are institutionalizing a ‘Digital First Culture’ with digital adoption being implemented across every node of our operations spanning Smart sourcing, Smart insighting, Smart manufacturing, smart distribution and Smart consumers. In today's volatile global landscape, building resilience in our supply chain is not just about surviving disruptions—it's about thriving in them. At ITC, we leverage cutting-edge technologies such as AI, ML, and IoT to drive real-time insights and automate processes. These technologies make our supply chain more agile and responsive, enabling real-time inventory optimization and stock management.

Tech Mahindra (TechM), India’s fifth-largest IT services company, has established a development centre at its office in Bengaluru, in partnership with electronic design and computer storage device manufacturing firm Universal Scientific Industrial (Shanghai), USI. It is USI’s first engineering offshore development center (ODC) in India. Located at Tech Mahindra’s Bengaluru office, the development center will accelerate innovation in smart device engineering, Tech Mahindra said in a statement. The center marks a milestone for USI as it expands its engineering capabilities to India, for enhancing device software development, hardware design, and testing.