The Economic Times
The Economic Times Automotive component maker Belrise Industries files papers to raise Rs 2,150 crore via IPO
Belrise Industries, an Indian automotive component manufacturer, has applied for an IPO with SEBI to raise Rs 2,150 crore. The company plans to use the funds to repay debt and may consider a pre-IPO placement of up to Rs 430 crore. Belrise Industries supplies components to major automotive companies globally and reported a revenue of Rs 7,484.24 crore in FY24.
The Economic Times Moglix acquires Khatema Fibres for Rs 80 crore
Moglix, a B2B e-commerce platform, acquired Khatema Fibres for Rs 80 crore. The acquisition will help Moglix expand its product portfolio and accelerate growth. Khatema Fibres specializes in sustainable paper manufacturing. The acquisition will also help Moglix expand into new manufacturing categories. Moglix plans to scale up Khatema Fibres' annual capacity to 75,000 tonnes.
The Economic Times VinFast in talks with Adani Group, Megha Engineering for electric car venture
Vietnamese EV maker VinFast is considering Indian companies MEIL and Adani Group as potential partners for its electric car venture in India. VinFast is looking for a local partner to help navigate the Indian market and establish a supply chain. While discussions are ongoing, no final decisions have been made.
The Economic Times Hyundai Motor India to set up 2 renewable energy plants at Chennai facility
Hyundai Motor India partners with Fourth Partner Energy to establish a 75 MW solar and a 43 MW wind power plant at its Tamil Nadu facility. This Rs 38 crore investment aims to fulfill HMIL's renewable energy requirements for 25 years, enabling the company to transition to 100% renewable electricity by 2025 and achieve its RE100 goal.
The Economic Times Huawei aims to mass-produce newest AI chip in early 2025, despite US curbs
Huawei is at the heart of U.S.-China friction over trade and security. Washington has imposed a series of curbs on Huawei and other Chinese companies, arguing that their technological progress poses a national security risk to the U.S. Beijing, which is trying to make the world's second-biggest economy self-sufficient in advanced semiconductors, denies such claims.
The Economic Times India's export outlook brighter as manufactured goods gain share: RBI
The outlook for India's exports is brightening as underneath the subdued growth profile of the past few months, the country has been gaining a share in global trade of key manufacturing items, according to the RBI bulletin for November.
The Economic Times India's urban development to propel GIS market growth in Asia-Pacific
Globally, the GIS market is set to grow from its current size of approximately USD 11 billion to USD 24.61 billion by 2034, reflecting a compound annual growth rate (CAGR) of 8.71 per cent, according to Precedence Research.
The Economic Times CFOs emphasise on strategising finance priorities to enhance profitability in tech-driven world
At ETCFO NextGen event, finance leaders said CFOs must strategically harness technology to drive cost savings, and maintain financial agility in a rapidly evolving business environment.
The Economic Times Vajram Electric to raise USD 5 mn in equity for funding expansion plans
Vajram Electric's expansion comes at an opportune time when international automotive companies are actively looking to diversify their supply chains and enhance production capacity to meet the surging demand for EVs, it stated.
The Economic Times RBI defends currency strategy, says interventions aim to shield economy from global risks
The Reserve Bank of India (RBI) defended its management of the rupee, stating its interventions in the foreign exchange market are necessary to maintain stability amidst global economic uncertainty. The RBI emphasized that the rupee's value is determined by market forces and the country's strong economic fundamentals, ensuring its position as one of the least volatile currencies globally.
The Economic Times VinFast in talks with Adani Group, Megha Engineering for electric car venture
Vietnamese EV maker VinFast is considering Indian companies MEIL and Adani Group as potential partners for its electric car venture in India. VinFast is looking for a local partner to help navigate the Indian market and establish a supply chain. While discussions are ongoing, no final decisions have been made.
The Economic Times Isro could help auto industry develop sensors: Somanath
Speaking at the Bengaluru Tech Summit, Somanath, while pointing out that the Indian automotive industry is dependent on sensors manufactured abroad, said: "Sensor systems for vehicles are all imported, despite it being possible to engineer them at a sustainable low cost. In the space sector, all the sensors for our rockets are manufactured in India and they are of higher cost."
The Economic Times Steelmakers need to collaborate with IISc & IITs to create globally-competitive industry: H D Kumaraswamy
India's Union Steel Minister, H.D. Kumaraswamy, emphasized the importance of the steel industry for the nation's growth and called for collaboration between steelmakers and institutions like IISc and IITs to drive research and innovation.
The Economic Times Effective fiscal-monetary coordination was core for India's success amid a series of adverse shocks: RBI Governor
RBI Governor Shaktikanta Das underscored the importance of fiscal-monetary coordination in navigating India through global economic shocks. He highlighted India's success in managing inflation and supporting growth through effective supply management and structural reforms like GST and IBC. Das emphasized the RBI's proactive policy responses, including front-loaded rate hikes, to address inflation and support growth.
The Economic Times NextGen CFOs must embrace tech, drive strategy, and lead change, Say finance leaders
At the ETCFO NextGen summit, finance honchos said CFOs need to be agile, collaborative, and technologically adept, positioning themselves as strategic partners in navigating the future of business.