India’s two-decade long efforts to offer itself as an alternative to China in electronics manufacturing is finally finding success, thanks to a variety of global and local developments
Homegrown electronics manufacturing services company Dixon Technologies is betting big on domestic IT hardware production under the government’s production-linked incentive (PLI) scheme. With approvals in place, Dixon is poised to manufacture laptops, tablets, all-in-one PCs and servers in India. Dixon started operations in 1993, commencing with the assembly of colour televisions. Over the years, the […]
Kotak Institutional Equities has reiterated its sell rating on diversified metals & mining company Vedanta Ltd, citing significant leverage concerns for the parent Vedanta Resources Ltd (VRL). In a note on Tuesday, Kotak trimmed the fair value estimate for Vedanta to Rs 200 per share from Rs 215 earlier. The stock is trading at around […]
India’s manufacturing and services sector activity continued to expand at a robust pace in August 2022, as per the latest Purchasing Managers’ Index (PMI) data. The manufacturing PMI rose to 58.6 in August from 57.7 in July, while the services PMI moderated slightly to 60.1 from 62.3 in the previous month. Nevertheless, the strong PMI […]
India imposed import tariffs on PCs, laptops and servers recently to spur local manufacturing and lower security threats from China, but getting the policy to work is easier said than done
HBL Power Systems is well placed to o ride surging demand for batteries in railways, industrials and defence sectors, and the stock should Rs 322 in 6-9 months, said the broker
Godrej Properties, the real estate arm of the Godrej group, is all set to get a major infusion of cash in the form of a Rs 2,000 cr investment by parent Godrej Industries. The flagship company of the Godrej group said it has also decided to invest Rs 500 Godrej Agrovet Ltd, which makes cattle […]
Imagine Marketing Limited, the company behind ‘Boat’ earphones, has filed a draft red herring prospectus with the Securities and Exchange Board of India — taking the first step to listing its shares on the stock exchanges. The company wants to raise Rs 2,000 cr from investors. Out of this, only Rs 900 cr is being […]
Emami Limited, one of the country’s oldest consumer brands, said its founders RS Agarwal and RS Goenka have stepped down from their managerial positions, and their sons Mohan Goenka & Harsha Agarwal will take over vice chairman and managing director respectively. Mohan Goenka is the eldest son of RS Goenka and Harsha Agarwal is the […]
Industries such as banking and financial services and insurance (BFSI), and production and manufacturing showed the highest growth in hiring activity in 2021, while media and construction segments showed the biggest declines, said Monster.com India in its annual trends analysis. The BFSI and the manufacturing sectors both saw hiring rise by 31%, while telecom witnessed […]
Reliance Industries has raised $4 bln (around Rs 30,000 cr) via the largest ever foreign currency bond issuance by an Indian entity. The amount will be used to retire the group’s existing debt. The bonds have been issued in 10-year, 30-year and 40-year maturities, and also mark the first time any BBB-rated Asian company outside […]
Tata Consultancy Services and Bharti Airtel said they tested a 5G-enabled and automated manufacturing set-up using the trial 5G spectrum allocated by Department of Telecom. Called ‘Neural Manufacturing Suite’, the technology aims to implement a ‘lights out’ factory set-up, in which the factory produces everything by itself without human or worker supervision or intervention. This […]
Industrial automation player Marshall Machines said its promoters will sell around 3.4% of the company to raise capital to meet the company’s working capital needs. The promoters currently hold around 73.4% of the total outstanding shares, which will come down to 70% by the end of the exercise. A 3.4% stake in the company is […]
Plans to bring out a more improved version of India’s indigenous fighter aircraft, Tejas, have moved a step closer to fruition with the award of a Rs 2,400 cr contract by Hindustan Aeronautics Limited (HAL) to Bharat Electronics Ltd (BEL). The contract has been awarded for the supply of 20 types of airborne electronic systems […]
Greenlam, the country’s leader in laminates, said it decided to enter the category of plywood and particle boards by setting up new factories in Tamil Nadu and Andhra Pradesh. Plywood and particle boards are used alongside laminates — the multi-colored and shiny boards — in aluminium-based constructions in offices and commercial buildings. “Witnessing a spiral […]
Trident, a prominent manufacturer of bedsheets, bathrobes, comforters (razai) and paper products in India, is offering a discount of 40% to all its shareholders on all items purchased from its website. To qualify for the 40% discount, the customers/shareholders have to add items worth Rs 5,000 to their cart, upon which they’ll get a discount […]
Asian Paints, India’s largest paint company and one of the largest listed manufacturing companies in the country, today issued a detailed and point-by-point rebuttal of proxy advisory firm InGovern. InGovern had, in a report brought out two weeks ago, alleged that Asian Paints was sourcing a considerable part of its raw material requirement from companies […]
Morepen Laboratories said it expects its US export business to get a major boost now that the US FDA has given it the go-ahead to export allergy drug Allegra to that market. Fexofinadine, invented by Sanofi Aventis, is the most widely used, second generation antihistamine drug for the treatment of allergy symptoms and hay fever, […]
ITC Ltd, one of India’s largest consumer products makers with a pan-India presence and dozens of major brands under its belt, has invested Rs 20 cr to get a 16% stake in a Kolkata-based company that makes baby and mother care products. The deal values ‘Mother Sparsh’ at Rs 125 cr after investment, or Rs […]
Government of India-controlled Bharat Electronics Ltd, a manufacturer of defence electronics, said it received its largest ever export order in the form of a Make in India offset-contract from European aircraft manufacturer Airbus Defence & Space. In September this year, Indian Air Force had signed a Rs 20,000 cr contract with Airbus Defence and Space […]
