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Tata's chip making plan may hit roadblocks on global shortage: Report

The Tata Groups' reported plans to set up a $300- million semiconductor manufacturing facility on a wartime basis is likely to face some headwinds given the absence of raw materials in the country and its scarce availability outside due to the ongoing shortage globally since the pandemic, says a report. The pandemic and its after effects on increased demand for data and consumer electronics have left semiconductor makers unable to keep up with supplies. Adding to the pains are the extreme weather and natural disasters in many producing countries such as the Taiwanese drought; hurricanes, extreme cold weather and flooding in the US; and a major fire at the Renesa's plant in Japan, which have all put further pressure on supply chains, according to a note by Fitch Solutions, an affiliate of Fitch Ratings.

Aurobindo Pharma, Unichem Laboratories recall products in US market

Aurobindo Pharma and Unichem Laboratories are recalling different products in the US market, the world's largest market for medicines, due to manufacturing issues. As per the latest enforcement report issued by the US Food and Drug Administration (USFDA), Aurobindo's US-based unit is recalling 7,296 containers of hypertension drug Carvedilol tablets.

Mahanadi Coalfields to set up 50-MW solar plant in Odisha's Sambalpur

Mahanadi Coalfields Ltd (MCL) will set up a 50-megawatt solar power plant in Odisha's Sambalpur district at a cost of Rs 301.92 crore as part of its goal to achieve carbon neutrality by 2024. This project will reduce carbon dioxide emission by 91,020 tonnes per annum and carbon offsets of around 24,824 tonnes per annum, the public sector unit said in a release on Saturday.

FMCG distributors warn firms of 'non-co-operation', seek price parity

The apex body of distributors of fast-moving consumer goods (FMCG) has written to companies against the price disparity between traditional distributors and other organized business-to-business (B2B) distribution firms, both online and offline, which have entered the sector in the last few years. The higher margins (or lower pricing of products) offered by FMCG companies to players such as JioMart, Metro Cash & Carry, and Booker, and to e-commerce B2B companies like Udaan and ElasticRun, are hurting the business of traditional distributors, said the All India Consumer Products Distributors Federation (AICPDF), which has over 450,000 members. It has sought a meeting with FMCG firms to resolve the issue.

Discoms' outstanding dues to gencos rise 1.3% to Rs 113,227 cr in December

Total outstanding dues owed by electricity distribution companies (discoms) to power producers rose 1.3 per cent year-on-year to Rs 1,13,227 crore in December. Discoms owed total Rs 1,11,762 crore to power generation firms in December 2020, according to portal PRAAPTI (Payment Ratification And Analysis in Power procurement for bringing Transparency in Invoicing of generators).

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