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Amid delays, HAL now aiming to deliver first LCA Mark 1A by August 15; GE engine supplies to start by September
Hindustan Aeronautics Limited strives to deliver the first LCA Mark 1A fighter jet to the Indian Air Force by August 15. Delays in delivery schedule may be addressed with GE-404 engine supply starting in September-October. Prime Minister's role expected in induction ceremony. Program aims to modernize Indian Air Force fleet.
India needs 1 million high-tech engineers as economy expands
India’s $250 billion tech sector plays an important role in the economy, employing about 5.4 million people. Tech services make up about 7.5% of the country’s $3 trillion-plus gross domestic product.
In equity's Indian summer, IPOs and investors make hay in 2024
The IPO market in 2024 has seen strong investor interest with 38 companies listing at an average gain of 25%. While some stocks like Jyoti CNC Automation and Exicom Tele-Systems have surged 100-300%, others are trading below offer price. Major IPOs from Bharti Hexacom and Aadhar Housing Finance have performed well.
Construction companies likely to report subdued growth in Q1 amid lower awarding of projects, slow execution
The financial performance of roads and construction companies in the June 2024 quarter is expected to remain muted due to delay in obtaining clearances related to acquisition of land parcels, severe heat wave across various parts of the country, and slack in construction activities amid the general elections held during the quarte
US chipmaker Analog Devices increases India headcount by 30%
Analog Devices has offices in Bengaluru, Gandhinagar, and Hyderabad, with a current workforce of 1,500 in India, including 1,200 engineers, according to Srinivas Prasad, senior director and head of Analog Devices in India. Globally, the company employs 26,000 people across 31 countries, with over 11,000 being engineers.
Software engineer in Pakistan stabs CEO to death over salary issues
In a tragic turn of events, the CEO of Euro Tech Software House in Karachi was fatally attacked by an employee over unpaid salary issues. The employee, Shoaib, confessed to the crime, citing financial pressures due to his father's medical expenses. Police have arrested the suspect.
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Larsen & Toubro bags 'significant' order from Hindustan Shipyard
Larsen & Toubro has secured a significant order, valued between Rs 1,000 crore and Rs 2,500 crore, from Hindustan Shipyard Ltd to construct part of two Fleet Support Ships (FSS) for the Indian Navy. The ships, crucial for logistical support, will be built at L&T's advanced shipyard in Kattupalli.
Gross and grave mismanagement by BJP's double-engine govt: Rahul Gandhi on Assam floods
Congress leader Rahul Gandhi has criticised the Assam government for the state's flood situation, stating that it reflects the "gross and grave mismanagement" of the BJP's double-engine government. The state has seen over 60 deaths, 53,000 displacements, and 24,000 affected people. Gandhi called for a comprehensive and compassionate vision, including proper relief, rehabilitation, and compensation in the short term, and a pan-Northeast water management authority to control floods in the long term.
NexGen Energia plans to invest Rs 15,000 cr over 10 yrs to open 5,000 green diesel, CBG pumps
NexGen Energia plans a Rs 15,000 crore investment to establish 5,000 green diesel and CBG pumps across India over the next decade. The initiative aims to reduce fuel imports by 30% and create jobs for 10 lakh people. The company also expands into electric vehicles with affordable two-wheelers and upcoming electric trucks and buses.
Telangana engineering admissions 2024: AICTE asked to cancel extra 20,000 computer science seats
JNTUH registrar K Venkateswara Rao requested AICTE to rescind 20,000 computer science engineering seats for 2024-25. Concerns include faculty shortages, economic slowdown and layoff in IT sector. Academicians also supported JNTUH's stand.
NIT Mizoram achieves impressive placement record for 2023-2024 academic session with 86.7% overall placement
NIT Mizoram posted an 86.7% placement rate for 2023-2024, with the highest salary package at 14.5 LPA and an average over 7 LPA. Over 75 companies, including Adobe, Deloitte, Vedanta, and Mahindra & Mahindra, recruited students. Among the students, Shristi Sharma and Nishant Nitin Mishra, who secured four job offers, praised the Training and Placement Office. Internships, part of the curriculum, involved 100% student participation with organizations like SAIL, Indian Railways, and Google, offering stipends between ₹5,000 to ₹20,000 per month.
Infra cos step up hiring betting on govt focus on sector
India's infrastructure sector is hiring millions in unskilled, semi-skilled, and skilled labor segments, with expectations that the new government will continue investing in infrastructure development, including highways, roads, and airports. An estimated 9.8 million jobs are expected to be created in FY25, driven by strategic investments and ambitious plans for transportation and logistics development.
TAFE Motors, DEUTZ AG ink pact; to expand internal combustion engine business
TAFE Motors and Tractors Ltd would produce engines to suit newer applications in the Indian market as well as for DEUTZ's requirement. The engines would be produced at the manufacturing facility of TAFE Motors at Alwar, Rajasthan. The manufacturing facility currently produces diesel engines and gensets in the 5 to 125 kVA range that are marketed as Eicher Engines and TMTL Engines.
Railways to revise Rs 31,000 cr wagon procurement plan
The Indian Railways has revised its ₹31,418 crore wagon procurement plan after supplier Modern Industries failed to fulfill a contract. The plan, which aimed to supplement the 300,000 existing wagons on the network, was placed with seven suppliers in July 2022. The largest order was placed with Titagarh Wagons for 24,177 units. Modern Industries was supposed to supply 9,242 wagons for ₹3,776.35 crore, but the order was scaled down to 3,151 wagons for ₹1,287.54 crore last month under force majeure conditions.
L&T hit by 'severe' skilled manpower shortage: 45,000 engineers & techies needed
Larsen & Toubro (L&T) faces a severe shortage of skilled labor, with a deficit of 25,000 workers in engineering and construction, and 20,000 in IT and IT services, per its Chairman S N Subrahmanyan. This shortfall, due to various factors including high attrition and migration, is affecting project execution.
L&T group facing shortage of over 45,000 labourers and engineers: Chairman Subrahmanyan
The flagship engineering, procurement and construction business is grappling with a labour shortage of 25,000-30,000 labourers, while the information technology and IT-enabled services business is facing a shortage of 20,000 engineers, he told reporters here.
87 stocks turn multibaggers in resilient Indian market during H1. What's the second half looking like?
Indian market showcases resilience with 87 stocks turning multibaggers in H1. Top performers include Marsons and Tinna Trade. IT and capital goods sectors witness significant growth. Analysts predict positive market trajectory post-Union Budget and US Fed's decisions.
MeitY to kick off Rs 10,000-crore IndiaAI Mission on July 3
The Ministry of Electronics and Information Technology will launch the IndiaAI Mission with a budget of Rs 10,372 crore and started inviting nominations from top institutes, such as IITs, NITs etc, for students who are undertaking projects in artificial intelligence (AI), according to reports.
DEE Development Engineers IPO gets subscribed 99.56 times
The portion for qualified institutional buyers received a whopping 201.91 times subscriptions while the category for non-institutional investors got subscribed 144 times. The part for retail individual investors (RIIs) received 23.42 times subscriptions.
Triveni Engineering buys addl 36.34 pc stake in sugar firm Sir Shadi Lal Enterprises for Rs 45 cr
Triveni Engineering & Industries Ltd acquires 36.34% stake in Sir Shadi Lal Enterprises Ltd for Rs 45 crore, enhancing its position as a major sugar producer. Vice Chairman Tarun Sawhney views the acquisition as a strategic move to boost Triveni's sugar and alcohol businesses.
Record block deals! Dalal Street scores Rs 23,000 crore screamer, from a Voda assist
Indian stock markets hit a milestone with record block deals worth ₹23,000 crore, driven by Vodafone Group's stake sale in Indus Towers.
To address talent shortage, chipmakers skilling engineering students
Firms like Intel India, AMD, Applied Materials and Tessolve are teaming up students and employees to work on real-life projects, establishing labs in institutes like IIT-Bombay, driving industry-academia partnerships to conduct research in core design and AI training and sponsoring students pursuing research.
Gensol Engineering bags another BESS project from GUVNL
Gensol Engineering secures an additional 250 MW/500 MW Battery Energy Storage System Project from GUVNL, increasing its order book to Rs 3,100 crore.
Sansera Engineering shares jump over 7%, hit 52-week high amid block deal
Sansera Engineering shares surged 7.3% to hit a 52-week high at Rs 1,300 on BSE following a block deal. Foreign institutional investors hold 22.11% stake, promoters 35.03%, and mutual funds 17.56%.
World’s largest Vodka bottle, 7-foot golden marvel, on sale. Know its price, quantity and manufacturer
The world’s largest bottle of Vodka will be auctioned in London by the last week of June. It has 259 liters of Vodka and weighs 300 kgs.
Delhi HC asks SpiceJet to pay $4.8 mn to engine lessors in four instalments
Indian carrier SpiceJet has been directed by the Delhi High Court to pay $4.8 million in four instalments as an interim arrangement to continue using their three leased engines. If the payment is not made, SpiceJet will be liable to ground and return the engines within 15 days.
ChatGPT Effect? 7,000 IIT students still jobless as placement season ends; Institute sends SOS to alumni for help
Over 7,000 IIT students remain unplaced as the 2023-24 placement season ends. IIT Delhi, IIT Bombay, and BITS are seeking help from alumni to secure jobs for these graduates. Economic factors and technological advances, such as the rise of ChatGPT, have contributed to the decline in placements, with many companies adopting a cautious hiring approach.
Balu Forge Industries acquires 72,000-tonne forging lines in Karnataka
Balu Forge Industries Ltd (BFIL) acquired three forging lines in Karnataka with a total capacity of 72,000 tonnes per year for an undisclosed amount. The acquisitions aims to enhance its capabilities in heavy forged products. The new acquisition aims to strengthen BFIL's position in the global engineering product market, enabling it to compete on precision, product quality, and pricing. The Mumbai-based company specializes in manufacturing forged metal components for various industries.
Gail may line up Rs 50,000 crore capex in big petrochemical bet
Gail (India) intends to invest up to ₹50,000 crore in constructing a 1.5 million tonnes per annum ethane cracking unit at Sehore, Madhya Pradesh, according to sources familiar with the matter. This significant investment marks one of the largest proposed capital expenditures by the state-run gas utility.
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