Author: MM Desk

The UNITED GRINDING Group unveiled a cutting-edge automation solution in tool machining at this year’s GrindingHub, held under the theme “Stay Connected.” The highlight of their presentation was the introduction of an innovative mobile transport robot, showcased to an eager audience on the first day of the trade show. At 10 a.m., the covers came off the WALTER innovation, revealing a mobile transport robot that autonomously moves between the HELITRONIC VISION 400 L high-end tool grinding machine and the fully automatic HELICHECK PLUS measuring machine. Dubbed “Automated Tool Production” (ATP), this new system enables automatic loading and unloading of cylindrical…

In the wake of the myriad challenges since 2020, the manufacturing industry has stood resilient, navigating through supply chain disruptions, geopolitical tensions, talent scarcities, and economic uncertainties. However, thriving in such an environment necessitates a departure from solitary endeavors towards collaborative ventures within the supply network. An Era of Learning The significance of knowledge-sharing in manufacturing has never been more pronounced. The recognition of AI as Collins Dictionary’s Word of the Year for 2023 underscores the heightened awareness surrounding technological advancements. Yet, despite the acknowledgment of AI’s transformative potential, many businesses grapple with the practical implementation. Cisco’s AI Readiness Index…

JSW Steel, a prominent player in the Indian steel industry, is set to deliberate on long-term fundraising initiatives during its forthcoming board meeting on May 17, 2024. The decision, announced on Wednesday, May 8, underscores the company’s strategic approach towards bolstering its financial capabilities and capitalizing on growth opportunities in the market. In addition to deliberating on fundraising strategies, the board will also review the financial results for the January-March quarter, along with the possibility of declaring dividends for its stakeholders. While the specifics of the fundraising methods remain undisclosed, the company has indicated that options may include but are…

Lam Research Corporation, a Fortune 500 company, has unveiled its strategic initiative to broaden its global semiconductor fabrication equipment supply chain, with a significant inclusion of India. The move highlights Lam Research’s commitment to strengthening its presence in key markets and leveraging India’s burgeoning semiconductor ecosystem. The company’s expansion plan involves a comprehensive assessment of capabilities across various supply chain segments. Lam Research is actively exploring partnerships with India-based suppliers capable of delivering precision components, custom parts, high-purity gas delivery systems, and other essential assemblies crucial for semiconductor wafer fabrication equipment. According to industry experts, the global semiconductor industry is…

The fight against counterfeit drugs and medical devices receives a significant boost as the Authentication Solution Providers’ Association (ASPA) initiates a comprehensive consumer awareness campaign, with a particular focus on the pharmaceutical sector. Recognizing the urgent need to tackle the escalating threat of counterfeit products, ASPA is at the forefront of efforts to educate consumers and empower them to make informed choices. By raising awareness about the serious risks posed by counterfeit medications, including potential health hazards and treatment inefficacies, ASPA aims to safeguard public health and well-being. ASPA’s proactive engagement with key stakeholders in the pharmaceutical industry, such as…

The Energy Mission Machineries initial public offering (IPO) valued at Rs 41.15 crores will be open for subscription today. This IPO entails an entire fresh issue of 29.82 lakh shares. Investors have the opportunity to subscribe during the period from Thursday, May 9 to Monday, May 13, 2024, with allotment anticipated on May 14, 2024. Priced between Rs 131 to Rs 138 per share, the IPO presents an enticing investment opportunity, with a minimum lot size of 1,000 shares. Retail investors are required a minimum investment of Rs 1,38,000, while High Net Worth Individuals (HNIs) need to acquire 2 lots…

UltraTech Cement, one of India’s leading cement manufacturers, has reported a robust performance in the fourth quarter of FY24, with a significant surge in net profit beating estimates. The company announced a 35 percent increase in net profit, reaching Rs 2,258.58 crore in the January-March period, compared to Rs 1,670.10 crore in the same period last year. UltraTech Cement’s revenue also witnessed a notable uptick, rising by 9.4 percent to Rs 20,418.94 crore. On a sequential basis, revenue increased by 21 percent, while profit surged by 27.3 percent. The company’s board has recommended a dividend of Rs 70 per share…

Waaree Energies Limited has clinched a substantial deal with Gujarat Industries Power Company Limited (GIPCL) for the supply of 400 MW solar PV solar PV modules, marking a pivotal step in bolstering renewable energy infrastructure. Hitesh Chimanlal Doshi, Chairman & Managing Director of Waaree Energies Limited, lauded the collaboration with GIPCL, highlighting the project’s significance in advancing India’s renewable energy objectives. He remarked, “This initiative underscores our dedication to promoting domestic manufacturing, fostering employment opportunities, and supporting the nation’s ambitious renewable energy targets while upholding standards of excellence.” As part of the agreement, Waaree Energies Limited will furnish solar PV…

In a stark warning about the growing influx of steel imports, Tata Steel CEO T V Narendran has expressed deep concerns regarding India’s steel trade dynamics. The country, previously a net exporter of steel, has witnessed a staggering 38% surge in imports, reaching 8.319 million tonnes in the fiscal year 2023-24. Narendran emphasized the need for vigilance and caution, stating, “It would be a pity if the situation continues in the long run. We have to be watchful about imports.” His remarks come amidst mounting apprehensions within the industry over the adverse impacts of heightened imports. Data provided by BigMint, formerly known as…

Glenmark Pharmaceuticals has achieved a significant milestone with the receipt of approval from the US health regulator to market a generic version of an anti-inflammatory drug in the American market. In a statement released on Monday, the Mumbai-based pharmaceutical company announced that it has obtained approval from the US Food and Drug Administration (USFDA) for Acetaminophen and Ibuprofen tablets (250 mg/125 mg). The approved product by Glenmark Pharmaceuticals is the generic version of Haleon US Holdings, LLC’s Advil 2 Dual Action with Acetaminophen Tablets, 250 mg/125 mg (OTC). Glenmark Therapeutics Inc, USA, will spearhead the distribution of the drug in…