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Exclusive: Applied Materials under US criminal probe for shipments to China's SMIC-sources
Semiconductor equipment maker Applied Materials (AMAT.O) is under U.S. criminal investigation for potentially evading export restrictions on China's top chipmaker SMIC, according to three people familiar with the matter. Key Points
ReutersChina receives US equipment to make advanced chips despite new rules-report
Chinese companies are buying up U.S. chipmaking equipment to make advanced semiconductors, despite a raft of new export curbs aimed at thwarting advances in the country's semiconductor industry, a congressional report said on Tuesday. Key Points
ReutersUS to indefinitely extend waiver for S.Korean chipmakers to bring equipment into China -Yonhap
The U.S. is expected to indefinitely extend a waiver granted to South Korean chipmakers Samsung Electronics (005930.KS) and SK Hynix (000660.KS) on needing licenses to bring U.S. chip equipment into China, Yonhap news agency reported on Wednesday. Key Points
ReutersNokia, Ericsson say no to supplying 5G gear to Vi on credit
European telecom gear makers Nokia and Ericsson have refused to supply 5G equipment to Vodafone Idea (Vi) on credit, people aware of the matter said. Financially stressed Vi, which has yet to place an order for 5G equipment, was seeking relaxation in payment terms, they told ET. Key Points
Economic TimesGovernment asks heavy equipment manufacturers to produce locally to check imports
The Indian government is seeking to reduce imports of heavy mining equipment worth over INR 35bn ($465m) annually by encouraging domestic manufacturers to produce such machinery. Coal India alone imports high-capacity equipment with a customs duty of INR 10bn, the coal ministry said. India is trying to decrease its reliance on imported heavy equipment to boost domestic production and reduce down time as imports can remain broken down due to spares issues. Key Points
Economic Times
Rejuvenating the obsolete/discarded fleet of equipment
Russia has been able to capture some areas in the Eastern Region of Ukraine but the progress has been very tardy. There have been large scale casualties of both - soldiers as well as the equipment on the Russian side. Key Points
Financialexpress'India will soon make equipment for semiconductor manufacturing'
Union telecom and IT minister Ashwini Vaishnaw announced that India will start manufacturing equipment for semiconductor manufacturing. Applied Materials' India Validation Centre, an investment of $20 million, will have a workforce of 500 people and is the first private facility in India for processing 300 mm wafers. Key Points
Economic TimesMutual pullback of some troops from LAC on cards as Modi-Xi discuss Ladakh tensions at BRICS
There can be some forward movement on LAC front just before G20 meet, it is learnt. An option under discussion is pullback of certain troops, equipment for building confidence. Key Points
ThePrintPullback of some troops from LAC on cards as Modi-Xi discuss Ladakh tensions at BRICS
There can be some forward movement on LAC front just before G20 meet, it is learnt. An option under discussion is pullback of certain troops, equipment for building confidence. Key Points
ThePrintSupreme Power equipment IPO Day 3: Check GMP, subscription status, other key details as SME IPO closes today
Supreme Power equipment IPO size is ₹46.67 crore which is entirely a fresh issue of 71.8 lakh shares. The company has fixed the Supreme Power equipment IPO price band at ₹61 to ₹65 per equity share. Key Points
mint
Shriram Finance slows down farm equipment loans, sees recovery from Q3
The non-banking financial company on Thursday reported a 19.7% year-on-year (yoy) increase in assets under management (AUM) to ₹2.03 trillion Key Points
mint‘We plan to double the pace of chip commercialization’
Applied Materials Inc. plans to compress its research, development, and trial cycles of semiconductor production technologies by halving the current 10-15 year timeframe. Key Points
mintHow India Inc is boosting productivity by using intelligent technologies
Assembly lines are becoming less dependent on humans-the shop floor foreman's holler is headed toward extinction. Instead, data and intelligent technologies have taken charge of factory machines, instructing them on tasks that need to be completed. Key Points
Economic TimesRajnath Singh celebrates Vijayadashami with troops in Arunachal's Bum La
Defence Minister Rajnath Singh visited the India-China border at Arunachal's Bum La and extended his wishes to the troops on Vijayadashami. He commended the soldiers for securing the borders in sub-minus temperatures at an altitude of 15,000 feet above sea level. Singh emphasized the need to strengthen the country's security apparatus and highlighted the efforts being made by the government to enhance indigenous production of defense equipment. He also visited the 4 Corps Headquarters at Tezpur in Assam and reviewed the operational readiness of the troops. Key Points
Economic TimesZTE receives government security clearance to supply gear to Vodafone Idea
The approval for Vi's deal with ZTE from NSCS came after the Indian telco submitted documents and specified that it's an expansion/upgradation of the existing network, and not a fresh contract, a government official told ET. The networks in the circles also have equipment from Huawei, but the expansion work will be done only by ZTE. Key Points
Economic Times
After gaining over 560% in 1 year, multibagger stock sets record date for 2:3 bonus issue
Small-cap firm Sprayking Agro equipment Ltd has a market valuation of ₹93.21 Cr at today's close. Key Points
mintAgriculture dept distributes over 13,500 farm equipment
Officials said the farm equipment was distributed among farmers during a programme at the residential training centre ‘Matigantha’ in the district. 365 trainees have successfully completed the training programme at Matigantha till March 31, they added. Key Points
The Indian ExpressCash-strapped Vi holds out hope for struggling 5G gear companies
Vodafone Idea (Vi) is set to benefit from a slump in demand for 5G network gear globally, including India, which has impacted earnings at companies like Nokia and Ericsson. Despite the Indian telecom operator's financial precariousness, global network equipment vendors are likely to prefer working with Vi, which still has over 200 million users but needs to expand 4G network capacity and start 5G rollouts to compete effectively with rivals Reliance Jio and Bharti Airtel. Key Points
Economic TimesBHEL gets 2,400 MW greenfield power project from NLC India in Odisha
New Delhi, Jan 17 (PTI) State-owned BHEL on Wednesday said it has bagged an order to set up a 2,400 MW supercritical thermal power project (STPP) from coal PSU NLC India Ltd. This is the largest power sector order won by the company through competitive bidding, BHEL said in a statement. “BHEL bags an order […] Key Points
ThePrintInox India to launch IPO on December 14. Check details
The issue is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO. Under the OFS, Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, Ishita Jain, Manju Jain, Lata Rungta, among others, will offload shares. Key Points
Economic Times
Green Channel to move machinery created
The PMO is coordinating the movement of these heavy machinery and has been in touch with officials from state and central agencies. Principal Secretary to the PM, PK Mishra, held review meetings with the stakeholders and enquired about the status of rescue mission. Key Points
Economic TimesCisco slumps after cutting annual profit, revenue forecasts
Cisco (CSCO.O) tumbled 11% on Thursday after cuts to its annual forecasts raised fears that excess inventory with customers was sapping new orders in its mainstay networking equipment business. Key Points
ReutersPiyush Goyal to chair meet to decide fate of 3 PSUs
Commerce and industry minister, Piyush Goyal, will chair a meeting next week to discuss the closure of three state-owned companies: Metals and Minerals Trading Corporation of India (MMTC), State Trading Corporation (STC), and Project & equipment Corporation of India. These companies were denotified as nominated agencies for imports and exports of goods. A decision on the closure, particularly strategic disinvestment of MMTC, is expected to be made. The government had previously decided to shut down several public sector units in 2019 after reviewing investments to ensure they were not burdened with unrelated ventures or loss-making firms. Key Points
Economic TimesSouth Korean firms get waiver on US chip gear supplies to China
Samsung Electronics (005930.KS) and SK Hynix (000660.KS) will be allowed to supply U.S. chip equipment to their China factories indefinitely, without separate U.S. approvals, Yonhap news agency quoted South Korea's presidential office as saying on Monday. Key Points
ReutersUS curbs on chip tools to China nearly finalized, government posting shows
An updated rule curbing exports of U.S. chipmaking equipment to China is in the final stages of review, according to a government posting and a source, a sign the Biden administration is poised to soon tighten restrictions on Beijing. Key Points
Reuters
India's Escorts Kubota posts 93% jump in Q1 profit on railway, construction demand boost
Indian tractor maker Escorts Kubota (ESCO.NS) reported an almost 93% jump in first-quarter profit on Tuesday, led by the increased demand for its construction and railway equipment. Key Points
ReutersIndia's astrophotographers club growing. But where do they go for clear skies?
It can cost Rs 3-10 lakh for all-rounded basic equipment because almost everyone imports them. There is also the customs fees, an astrophotographer's biggest nemesis. Key Points
ThePrintAmbani’s Jio in talks to raise about $1.6 billion for equipment from Nokia Oyj
Indias Reliance Jio Infocomm Ltd. is in talks to raise a loan for about $1.6 billion to fund the purchase of equipment from Nokia Oyj. Banks involved in the discussions with billionaire Mukesh Ambanis telecoms company include Citigroup Inc., HSBC Holdings Plc. and JPMorgan Chase & Co. Key Points
Economic TimesMSME ministry invites bids from CPSEs to procure machines, equipment for its technology centres
Technology for MSMEs: “The major portion of goods to be procured include machinery, plant & equipment with due installation, commissioning, training, warranty, annual maintenance services etc.," as per RfP document. The last date for submission of bids is April 20, 2023. Key Points
FinancialexpressHappy Forgings shares list at 18% premium over IPO price
Happy Forgings shares fetched a premium of Rs 282 in the unlisted market ahead of listing. The issue received a strong subscription of 82 times at close. The massive subscription of the IPO was driven by institutional investors. The categories reserved for retail investors and NIIs were subscribed 15 times and 62 times, respectively. The QIB portion has been booked 220 times. Key Points
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Applied Materials forecasts upbeat first-quarter revenue on resilient demand
Applied Materials (AMAT.O) forecast first-quarter revenue above analysts' estimates on Thursday, but the company's shares fell more than 7% after the bell following a report that the semiconductor equipment maker was under investigation. Key Points
ReutersIndian Army orders Rs 7,300 cr emergency buy from desi companies to counter China
A range of equipment was ordered mainly from the private sector. They include drone and counter drone systems, armaments, simulators, communication systems and vehicles, according to people in the defence establishment. Key Points
Economic TimesBSNL to award Rs 1,000-crore contract to Nokia, homegrown vendors fume
State-run BSNL is likely to award a Rs 1,000-crore order to Nokia for optical transport network (OTN) equipment and deployment via a local system integrator. Financial bids have been opened, and the advance purchase order is expected to be issued to the successful bidder soon. The contract, part of BSNL's Phase-4 project, involves supplying, installing, and commissioning OTN on a pan-India scale. Key Points
Economic TimesJio likely to sign 5G gear deal with Nokia for $1.7 billion
Reliance Jio Infocomm is set to sign a $1.7bn deal with Nokia this week to purchase 5G network equipment. This follows the $2.1bn worth of equipment ordered by the Indian telecom operator from Ericsson in its attempt to roll out 5G across India this year. The company has already purchased 5G spectrum and plans to invest $25bn in 5G infrastructure, making its standalone mode the sole holder of the 700 MHz band in the country. Key Points
Economic TimesAfter House panel's push, govt opens doors for used diagnostic devices
The union environment ministry has made the decision in consultation with the health ministry after inter-ministerial deliberations of more than a year. Allowing import of 'high-end and high-value medical equipment', not just by actual users and original equipment manufacturers but also by third-party traders, is expected to considerably open up the Indian market for these devices. Key Points
Economic Times
Right-to-Repair Advocates Question John Deere’s New Promises
The tractor maker is accused of blocking farmers from fixing their own equipment. A new agreement offers concessions—but campaigners say it’s not enough. Key Points
WIREDAmazon Global Sports Festival: Attractive discounts of up to 91% on sports equipment to stay fit
Amazon Global Sports Festival brings you the chance to indulge in your favourite sports and outdoor activity with the best in class equipment with whopping discounts up to 91%. Go through all the best deals here and make a choice. Key Points
mintThe logistics of war: How Washington is preparing for a Chinese invasion of Taiwan
As worries about a Taiwan contingency rise, the U.S. military is addressing vulnerabilities, considering Australia as a secure location for equipment storage. However, critics argue that more urgency and funding are needed to enhance the dispersed logistics approach in the face of evolving geopolitical challenges. Key Points
Economic TimesFocus on 113 home-grown, affordable medical devices to cut down import dependence, says govt
Medical devices planned for promotion include specific equipment across 8 segments. Products are slated to be manufactured by both Indian firms & MNCs with manufacturing units. Key Points
ThePrintUS NSA Jake Sullivan set to visit India this month
The proposed visit comes in the backdrop of the US government last week approving sale of 31 MQ9B drones to India. The Defence Security Cooperation Agency said the US state department gave the approval for drones and related equipment worth $3.99 billion. The agency said it had also delivered the required certification notifying Congress of the sale. Key Points
Economic Times
Inox India IPO: What GMP indicates ahead of subscription on Thursday
The issue is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO. Key Points
Economic Times