The facility would focus on equipment for the energy sector, besides aviation and health areas.
"Initially we would invest $50 million for setting up the manufacturing facility... total investment will be $200 million, including after expansion, and the company will take a call in the next 3-6 months," GE Chairman and CEO Jeffery R Immelt said.
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
'If private capex has to kick in, there should at least be 2-3 years of visibility.'
As the curtain falls on the campaign for the Thiruvananthapuram Lok Sabha seat on Wednesday, April 24, a ringside view of the closing ceremonies.
GE is selling the shares to "an affiliate of a limited partner in one of Genapct's other shareholders," the companies said in statement. Genpact, one of India's largest business process outsourcing firms by revenue, started out in 1997 as the India-based BPO division of GE Capital.
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
The Tata Group has been named the world's eleventh most reputed company, according to a study compiled by United States-based Reputation Institute.
China accounts for 90% of imports of mobile phones to India.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
Several Indian units of American technology companies have filed more than 1,000 patent applications with the US Patent and Trademark office, a media report said on Tuesday.
Jeffrey R Immelt, chairman and chief executive officer of GE kickstarted the initiative.
Contrary to perception, the cost of nuclear power based on imported fuel and equipment will be "comparable" to that from the conventional power plants, says Shreyans Kumar Jain, chairman and managing director of the Nuclear Power Corporation of India.
GE Commercial Finance, an arm of the US conglomerate General Electric, on Monday announced its plan to invest Rs 1,000 crore to expand operations in India.
At a meeting convened by Power Secretary VS Sampath later this evening with a team of officials from General Electric, the US-based company, which has supplied six gas turbines at Dabhol, has agreed to start negotiations on the Contractual Service Agreement of the project, according to official sources. The Dabhol power plant has three blocks with six gas turbines. However, only three turbines are functioning at present.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
India does not have the facilities needed for developing advanced aerospace products. There is only one wind tunnel in the country, the almost six decade old one in the National Aeronautics Laboratory.
A broken system is driving our best-educated foreign workers -- talent desperately needed by U.S. companies -- to Europe, India, and China.
This was decided at a meeting between State Energy Minister Dilip Walse-Patil and executives of General Electric, which had supplied power equipment to the erstwhile Dabhol Power Company. During the meeting, GE executives assured the minister that by the end of this month, the Block-I, currently lying defunct, would start generating around 600 Mw.
Tata Power declared encouraging results for the April-June quarter (Q1) of the 2023-23 financial year (FY24). The firm's revenue rose 5 per cent year-on-year (Y-o-Y) to Rs 15,210 crore. It was driven by higher sales to distribution companies (discoms) and capacity addition in renewables. Company's adjusted profit after tax (PAT) rose 3 per cent to Rs 906 crore with reported PAT at Rs 1,100 crore on a one-time gain of Rs 235 crore.
'India is an equity market with a breadth and depth of companies to invest in.'
Infosys Technologies has been inducted into the Global Most Admired Knowledge Enterprises (MAKE) Hall of Fame.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
In a recently published report the New York Daily News said that mega American companies like Microsoft Corp, General Electric and American Express are moving thousands of customer service call-centre jobs to India.\n\n\n\n
General Electric company plans to convert its two arms in the country into wholly-owned subsidiaries even as it will expand activities of a third company, GE Power Controls India.
India's largest two-wheeler maker by volume - Hero MotoCorp (Hero) - posted a better-than-expected operating performance in the January-March (fourth quarter, or Q4) quarter of 2022-23 (FY23). Riding on higher average selling prices which were up 5 per cent year-on-year (YoY) and volume growth of 7 per cent, the company registered a 12 per cent growth in revenue to Rs 8,306 crore. The company sold 127,000 units in the quarter, largely driven by domestic sales which were up 11.6 per cent, while exports saw a sharp fall of 57 per cent over the year-ago quarter.
In 1937, a hydrogen-powered German airship flying into New Jersey caught fire and crashed, killing 35 passengers on board. It was sort of a man-made disaster as some 100 people were loaded on to a balloon filled with the most flammable material in the universe. The airship was named Hindenburg. Eight decades later, in 2017, a graduate of international business management from the University of Connecticut founded a "forensic financial research" firm to specialise in spotting wrongdoings and frauds, or what it calls man-made disasters, at companies around the globe and take market bets against them.
It is alleged that the company floated 32 subsidiaries in several tax haven countries to bring foreign funds to India through sham transactions.
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