JOINT PRODUCTION
Stanley Lifestyles shares surge 9% after Morgan Stanley picks up over Rs 16 crore stake
Stanley Lifestyles aims for business doubling in major metros with a steady 20% annual growth rate, steering clear of small town expansions.
Reforms in armed forces should be continuous to maintain supremacy during wars: President Murmu
President Droupadi Murmu highlighted the government's efforts to boost domestic defence production. She claimed that nearly 70 per cent of defence procurement was sourced from Indian manufacturers in the last year, and reforms resulting in India manufacturing over Rs one lakh crore of defence equipment. She emphasised upon modernisation of the armed forces, the importance of continuous reforms for military supremacy, and India's increasing defence exports, including the BrahMos missile deal with the Philippines.
President Murmu addresses joint session of Parliament: Key highlights
President Droupadi Murmu addressed the joint session of Parliament on Thursday, congratulating new MPs and emphasizing the mandate given to the Modi government for a third term. She also praised the high voter turnout in Jammu and Kashmir and lauded the Election Commission's efforts.
Volkswagen's $5 billion investment in Rivian boosts EV maker's shares
Rivian secures vital funding through Volkswagen's investment, enabling the launch of new EV models. The partnership signifies a significant step towards technological advancement and financial sustainability in the competitive electric vehicle market.
Beetel Teletech signs deal to distribute Alcatel-Lucent Enterprise products in India
Bharti Airtel-owned Beetel Teletech has partnered with Alcatel-Lucent Enterprise to distribute networking and communications solutions in India, focusing on critical sectors like telecom, transportation, and healthcare. The collaboration aims to drive digital transformation in the country by providing advanced infrastructure and services. With Beetel's extensive distribution network and Alcatel-Lucent Enterprise's product portfolio, the partnership seeks to offer accessible solutions to businesses of all sizes at competitive prices.
Certification to be must for road expansion joints
Road transport and highways ministry will soon mandate road contractors to certify all expansion joints on bridges and roads. This new requirement aims to prevent mishaps from the premature failure or deterioration of joints, which could lead to accidents.
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India, US discussing co-production of Javelin anti-tank missiles
India and the US discussed joint production of American javelin missiles to meet Indian military needs.
Musashi India begins mass production of e-Axles for EV two-wheelers
Musashi Auto Parts India, a subsidiary of Musashi Seimitsu Industries, has started mass production of e-Axles for electric two-wheelers in India with a Rs 160 crore investment in EV business.
Govt starts taking call on Chinese investments, Indian cos Press (Note) 3
Dixon Technologies is preparing to file for Press Note 3 clearance for its proposed joint venture with HKC Corp for manufacturing liquid crystal modules, thin film transistor liquid crystal display modules and assembly of smartphones and televisions. Dixon will own majority shares. Following border tensions, the Indian government began looking askance at investments by Chinese companies in India.
Estonia promotes tech sharing, joint production with Indian defence companies
NATO member Estonia, known for its expertise in IT and cyber security, is seeking closer cooperation with India to jointly develop defence technology. Indian companies are invited to partner with Estonian startups and tech players to explore specific areas of interest.
India-US advance talks on joint production of Stryker armoured combat vehicles
India and the US are in advanced negotiations to co-produce the latest generation of Stryker armoured infantry combat vehicles (ICVs). This three-phase project includes initial purchases, joint production in India, and co-development of future versions, supporting India's "Atmanirbhar Bharat" mission. Customization for Indian terrain, high-altitude areas, and significant technology transfer are key aspects. This collaboration, promoted by the US as part of their strategic defence partnership, aims to modernize India's mechanized infantry, replacing over 2,000 outdated BMP-II vehicles. The Stryker offers advanced capabilities, enhancing India's defence industry and military readiness.
Sun Pharma-Moebius Medical anti-osteoarthritis injection shows sustained pain relief in clinical trials
Sun Pharma and Moebius Medical announced that their intra-articular injection MM-II showed greater pain relief than placebo for up to 26 weeks in osteoarthritis (OA) patients, based on clinical trial data. The study demonstrated that from weeks 12 to 26, more patients on MM-II experienced significant pain improvement compared to those on placebo. MM-II, a novel non-opioid, uses a proprietary suspension of liposomes to reduce joint friction and pain. The companies plan to initiate a Phase 3 clinical program and seek a CE Mark for the product in the European Union.
Minda Corp joins hands with Taiwan firm to locally produce sunroof for PVs
HSIN Chong Machinery Works Chairman Roger Hsi said the company is looking forward to collaborate with Spark Minda to expand its footprint in India's growing vehicle market to develop and manufacture innovative integrated automotive sunroof and closure systems for next-generation vehicles.
SBI and Muthoot Microfin join forces to support women entrepreneurs
Muthoot Microfin partners with State Bank of India to provide financial services to women in rural and semi-urban areas. The co-lending initiative targets joint liability groups involved in agriculture and other income-generating activities, offering loans ranging from Rs 10,000 to Rs 3 lakh.
Uno Minda ties up with Chinese firm for production of EV components
Uno Minda has partnered with Suzhou Inovance Automotive Co to manufacture electric vehicle components, including charging control units, inverters, motors, and electric drive systems for passenger and commercial vehicles. The company plans to expand its electric four-wheeler portfolio and potentially establish a joint venture with Suzhou. Inovance, founded in 2003, specializes in providing products for rail transit and new-energy vehicles.
Brakes India forms JV with Japanese firm for advanced braking products
Brakes India and ADVICS announced a joint venture to develop and manufacture advanced braking products for the Indian light vehicle market, investing Rs 500 crore over three years. The partnership will focus on Electronic Stability Control (ESC) and leverage strengths in technology, localisation, and manufacturing processes. Products will initially target hybrid and electric vehicles, with plans to supply to the Indian market.
Renault, Geely create joint venture for hybrid, combustion engines
Renault and Geely's joint venture, HORSE Powertrain, aims to develop combustion and hybrid engines, bolstering competitiveness and addressing decarbonization challenges. With anticipated annual revenue of 15 billion euros and a production target of five million units. The venture, led by Matias Giannini as CEO and Daniel Li as chairman, signifies both companies' strategic partnership efforts.
ONGC to form an equal JV with EverEnviro to build 10 CBG plants
Oil and Natural Gas Corp (ONGC) and EverEnviro Resource Management Pvt Ltd are joining forces to construct 10 compressed biogas (CBG) plants, leveraging various feedstocks to reduce CO2 emissions by 7.5 lakh tons annually. ONGC, transitioning into the renewables sector, plans to establish solar, wind, and biofuel facilities alongside acquiring renewable projects. This strategic partnership signifies a pivotal step towards advancing renewable energy production in India.
Coal India incorporates new arm for coal-to-chemical business
Coal India's subsidiary BCGCL, with BHEL and GAIL, aims for coal-to-chemicals business with ammonia, nitric acid, and ammonium nitrate production, contributing significantly to domestic coal output.
Reliance Industries seeks CCI approval for Viacom18-Star India merger
Reliance Industries, led by billionaire Mukesh Ambani, has sought approval from the Competition Commission of India (CCI) for an $8.5 billion merger between Viacom18 and Star India Pvt Ltd (SIPL). The merger aims to combine the entertainment businesses of Viacom18, part of Reliance Industries, with SIPL, a wholly-owned subsidiary of The Walt Disney Company (TWDC). Post-merger, SIPL will become a joint venture held by RIL, Viacom18, and TWDC subsidiaries.
Full impact of capacity expansion will start coming in from FY26: JSW Steel MD
Jayant Acharya of JSW Steel discusses the company's capacity expansion plans, stable pricing trends, inorganic growth opportunities, and overseas operations performance, emphasizing the focus on value-added products for business stability. Acharya says in the last quarter, 62% of sales was from value-added and specials and 61% for the year as a whole. In terms of absolute volume, it has grown substantially.
After X-440, Hero and Harley-Davidson may bring more US models to India
Hero MotoCorp and Harley-Davidson Inc are expanding their India partnership. Hero is the third-largest seller in the premium segment after Bajaj Auto and Royal Enfield. Niranjan Gupta, CEO of Hero MotoCorp, highlights the growing market for roadsters.
Best collagen supplements for enhanced skin, joint, and overall health
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Devyani, PVR Inox form JV to develop food courts in malls
Devyani International has formed a 51:49 joint venture with multiplex operator PVR Inox to develop and operate food courts within shopping malls in India. The companies have no consideration exchanged and will invest in the proposed company's share capital in a 51:49 ratio. Existing food court businesses will not be part of the proposed company's business until the expiry, termination, or renewal of contracts.
DG Innovate joins hands with EVage Motors, forays into domestic EV space
UK-based advanced R&D firm DG Innovate on Wednesday announced its entry into the domestic electric vehicle space through a joint venture with electric commercial vehicle startup EVage Motors. The JV, which will be 60 per cent owned by DG Innovate and 40 per cent by the Indian partner, will produce electric motors for both domestic and overseas markets, EVage said.
Air India, Lufthansa deepen ties in 'rare' code-sharing pact
Lufthansa and Air India have deepened partnership with code-share expansions on India-Australia route. Experts note that it's unusual for Lufthansa to code-share with Air India on international routes.
KVS Manian resigns as Joint Managing Director of Kotak Mahindra Bank with immediate effect
KVS Manian resigned as the Joint Managing Director of Kotak Mahindra Bank, effective immediately. He had been re-designated to this position on March 1, 2024. In his resignation letter, Manian cited his decision to pursue other opportunities in the financial services sector. He expressed gratitude for his time with Kotak Mahindra Bank and highlighted his contributions to the group's success, particularly in expanding its retail banking division. Manian, an electrical engineer from IIT BHU Varanasi, joined the bank in 1995 and played a crucial role in its transformation from an NBFC to a full-fledged bank.
ReNew partners with Japan's JERA to evaluate joint development of green ammonia project in India
ReNew Energy and JERA collaborate on green ammonia project in Paradip, utilizing renewable energy for 100,000 tons production annually by 2030. The project aligns with India's hydrogen goals and Japan's clean energy transition.
Renault Nissan to launch four new products, expand product portfolio
Renault Nissan Alliance plans to launch four products, with India playing a crucial role in manufacturing. Senior officials celebrate the 25th anniversary in Chennai, emphasizing significant investments and global shipments from the plant.
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