Author: MM Desk

Four years after its global unveiling, IT and technology solutions giant Acer Group has introduced its consumer electronics brand Acerpure to the Indian market. The announcement was made at a launch event in Bengaluru, where Acerpure’s flagship product for India, a 65-inch television promising an immersive viewing experience, was unveiled. Andrew Hou, President of Pan-Asia Pacific Operations at Acer Group, explained the delay in the brand’s Indian debut. “It took time because India is an important market and required special strategy,” he said. The entry strategy centered around creating a manufacturing ecosystem in India, according to Acer India’s President and…

SGS, the world’s leading testing, inspection, and certification company, is set to host a complimentary webinar titled “Restricted Softlines Substances: Regulatory Updates and Recent EU, U.S., and Canada Recalls” on June 6. This webinar aims to address the complex and ever-evolving compliance environment faced by apparel and footwear businesses. The regulatory landscape for softlines, which includes apparel and footwear, is fraught with frequent changes and updates. Manufacturers and brands often find it challenging to stay abreast of these developments, which is critical for maintaining compliance with global standards. SGS’s webinar seeks to bridge this knowledge gap by providing a comprehensive…

Jindal Aluminium, India’s largest aluminium extrusion company, has set a new benchmark in the industry by achieving a record-breaking production of 1,15,920 metric tonnes (MT) of aluminium-extruded products in the fiscal year 2023-24. This remarkable feat represents a 10% increase over the previous fiscal year, reinforcing Jindal Aluminium’s dominance in the Indian market and its commitment to meeting growing demand. The company, renowned for its expertise in manufacturing intricate aluminium profiles, operates three state-of-the-art manufacturing plants located in Bengaluru, Dabaspet (Karnataka), and Bhiwadi (Rajasthan). These facilities boast a combined manufacturing capacity of 2.35 lakh tonnes per annum, including 160,000 tonnes…

Hewlett Packard Enterprise (NYSE: HPE) introduces a suite of new solutions within the HPE GreenLake cloud, streamlining enterprise storage, data, and workload management across on-premises and public cloud environments. Key offerings include:  HPE GreenLake Block Storage for Amazon Web Services (AWS), a new software-defined storage offering to seamlessly manage block storage across hybrid cloud environments.  New release of HPE GreenLake for Block Storage built on HPE Alletra MP now supports NVMe capacity scaling up to 5.6PB and HPE Infosight AIOps with cross-stack analytics to enable workload visibility, improved performance, higher availability and optimized resource utilization.  HPE Timeless…

Larsen & Toubro (L&T), the $27 billion Indian multinational enterprise, announced on Thursday the inauguration of a new manufacturing unit by its wholly-owned subsidiary, L&T Valves Ltd, in Saudi Arabia. The state-of-the-art facility is strategically located in Al Jubail, off the Dammam-Abu Hadriyah Highway. L&T Valves, a leading supplier of on-off valves to Saudi Arabia, aims to significantly enhance its local production capabilities with this new establishment. The move aligns with Saudi Arabia’s Vision 2030, a strategic framework aimed at reducing the country’s dependence on oil, diversifying its economy, and developing public service sectors such as health, education, infrastructure, recreation,…

ReNew, a leading energy firm, announced on Wednesday that it has signed an initial agreement with European banking giant Societe Generale for up to $1 billion in financing and advisory solutions over the next three years. This strategic move aims to bolster the development of ReNew’s diverse energy transition projects both within India and globally. The Memorandum of Understanding (MoU) between ReNew and Societe Generale marks a significant step forward in the financing and execution of utility-scale energy projects. These projects include solar, wind, complex renewables, green hydrogen, energy storage, and solar module manufacturing. Sumant Sinha, ReNew’s Chairperson and Chief…

Cipla, a leading pharmaceutical company, announced today its decision to further invest up to Rs 26 crore in Achira Labs, an associate company, to enhance their partnership and advance in the point-of-care (PoC) diagnostics sector. The definitive agreements were entered into on May 15, 2024, marking a significant step in Cipla’s strategic expansion. The follow-on investment, structured in four tranches and contingent on the achievement of specific milestones, aims to bolster Achira Labs’ capabilities in designing, developing, and manufacturing microfluidics-based PoC immunoassay and molecular assay technologies. Upon completion of the first tranche, Cipla’s stake in Achira will increase to 27.27%…

Auto major Mahindra & Mahindra Ltd (M&M) reported a robust 32% increase in standalone net profit for the fourth quarter ending March 31, 2024, driven by strong performance in its automotive segment, a favorable product mix, and benefits from operating leverage. The company’s net profit rose to ₹2,038 crore from ₹1,549 crore in the same period last year. M&M’s standalone revenue from operations grew by 11% to ₹25,109 crore in Q4FY24, compared to ₹22,571 crore a year ago. The homegrown automaker announced plans to invest ₹12,000 crore in its electric vehicle (EV) unit, Mahindra Electric Automobile, signaling a significant push…

Tembo Global Industries Ltd., a leading manufacturer and fabricator of metal products for industrial, commercial, utility, and OEM installations, has announced the acquisition of new orders worth ₹241 crores from the infrastructure sector. This significant achievement highlights the company’s robust position as a trusted provider of metal products and solutions across various industries. Listed on the National Stock Exchange (INE869Y01010), Tembo Global Industries Ltd. continues to demonstrate its commitment to excellence and corporate governance. This latest order acquisition adds to its already impressive industrial portfolio. Commenting on this milestone, Mr. Sanjay J Patel, Managing Director of Tembo Global Industries Ltd.,…

In a significant development for the Indian process instrumentation market, Micro Precision Products Pvt. Ltd. has officially rebranded as WIKA Process Solutions India Pvt. Ltd., effective today. This change reflects the integration and enhanced capabilities stemming from its association with the globally recognized WIKA Group, known for its reliability and quality in process solutions. Gaurav Bawa, Senior Vice President of WIKA India, commented on the transition: “By leveraging the expertise and experience of the WIKA brand, we aim to offer our customers even greater confidence in our products. The acquisition of Micro Precision by the WIKA Group in 2014 was…