Mahindra to Boost South Africa Plant Output by Two-Thirds
Mahindra & Mahindra Ltd. is set to expand capacity at its South African assembly plant by two-thirds, targeting rising demand for budget vehicles in the continent’s largest economy. The facility, located near the port city of Durban, currently produces the Mahindra Pik-Up and will see output rise to 1,500 units a month from 900, according to Rajesh Gupta, CEO of the local unit. The company is also considering assembling additional models such as the Bolero and Veero pick-ups.Economic stagnation in South Africa has fuelled demand for more affordable cars, with Mahindra, Suzuki Motor Corp...
GIFT City, GTU Partner to Boost IFSC and Fintech Education
Gujarat International Finance Tec-City (GIFT City) on Tuesday signed a memorandum of understanding with Gujarat Technological University (GTU) to enhance collaboration in International Financial Services Centre (IFSC) education, fintech innovation, and research.Under the agreement, both institutions will jointly develop specialised courses, training programmes, and certification modules, while establishing a dedicated centre of excellence focused on opportunities within GIFT IFSC and emerging trends in financial technology.“This collaboration with GTU will help create a future-ready talent p..
Cement Sector Posts Strong Q1 on Price Hikes, Demand
Cement companies ended the June quarter on a strong note, supported by higher realisations from price hikes and robust volume growth. Most players reported double-digit gains in volumes, aided by last year’s low base during the election period, rising commercial activity, and faster execution of government projects. Lower operating costs also lifted EBITDA per tonne sharply.Volume growth was led by Ambuja (up 16.5 per cent), UltraTech Cement (15.3 per cent), JK Cement (14.3 per cent), and Sagar Cements (11.5 per cent), reflecting a rebound in demand. Shree Cement’s volumes fell 7.2 per cen..
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