Lowe's Financial News

rise in new orders and output pushed manufacturing activity to the second-strongest pace in three years. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose to 58.6 in August compared with 57.2 in July, according to data released Friday. «Robust and accelerated increases in new orders and production suggest that the sector looks set to provide a strong contribution to second quarter (fiscal) economic growth,” said Pollyanna De Lima, Economics Associate Director, S&P Global Market Intelligence. »The PMI results for India painted a vibrant picture of the nation's manufacturing landscape in August," De Lima further added. India’s economic growth strengthened to a four-quarter high of 7.8% in the first quarter, data released earlier this week showed, as the services sector pushed activity. The growth in manufacturing was less pronounced at 4.7% in Q1FY24, compared with 6.1% in the similar quarter last year. Demand strength pushed the new orders to the fastest pace since January 2021, helped by better export performance. «Not only did new export orders increase for the seventeenth month running halfway through the second fiscal quarter, but also to the greatest extent since November 2022,» the release stated, noting that members reported new work from Bangladesh, China, Malaysia, Singapore, Taiwan and the US. Buying levels rose to the fastest level in nearly 12 years, even as input costs rose faster. The increase in charge inflation, or selling prices, was not as fast as input prices as they tried to retain competitiveness.

Slowly and steadily, an overheated American job market is returning to room temperature

Marico Ltd. fell 0.46 per cent to Rs 568.0 at 11:11AM hours (IST) on Friday.

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Tube Investments of India Ltd. traded 0.38 per cent up at Rs 2914.05 at around 11:06AM (IST) on Friday.

LTIMindtree Ltd. rose 0.96 per cent to Rs 5246.0 in Friday's trade as of 10:56AM (IST) even as the benchmark Nifty ruled at 19331.0, up 77.2 points. The scrip had closed at Rs 5196.05 in the previous session.

Adani Power shares opened lower and went on to make intraday low of ₹312.25 apiece on NSE, logging over one per cent dip against its Thursday price. Similarly, Adani Enterprises shares are also swinging in gain and loss while Adani Green Energy, Adani Ports, Adani Total Gas, Adani Transmission, Adani Wilmar, etc.

Zimmerman has a new owner; so too does Seafolly. Bondi Sands was snapped up by a Japanese conglomerate for $450 million, and Aesop was sold for a record eight times that sum. Now the deal-making frenzy is pushing deeper into Australia’s consumer goods sector with smaller brands hoping to cash in on their businesses.

GAIL (India) Ltd. rose 2.43 per cent to Rs 117.85 in Friday's trade as of 10:20AM (IST) even as the benchmark Nifty ruled at 19314.9, up 61.1 points. The scrip had closed at Rs 115.05 in the previous session.

The counter opened at Rs 672.25 and touched an intraday high and low of Rs 687.6 and Rs 672.15, respectively, in the session so far. The stock of Indian Railway Catering & Tourism Corporation Ltd.

Shree Cements Ltd. gained 0.76 per cent to Rs 23989.15 in Friday's session as of 10:25AM (IST) even as the equity benchmark Sensex traded 82.55 points higher at 64913.96. Earlier in the day, the stock witnessed a gap up start to the session.

Fortescue Metals investors are split over whether Andrew Forrest is damaging its culture, with a former major shareholder selling down his stake over fears the company’s chairman might “wreck” the iron ore major.

Saugata Bhattacharya, Chief Economist, Axis Bank, says “manufacturing, if it actually stalls, in addition to the agricultural uncertainty, given the low rains that we have seen in August, might actually pull GDP growth even lower than the 6.2% that we have been expecting and forecasting for Q2. That is likely to pull down overall annual growth for GDP from our current estimates of 6.4% to 6.3 or 6.2%.”Is the GDP number, in line with your expectations?Very much in line with our expectations. We had expected 7.9%.

Bonus shares 2023: Shares of Kama Holdings will be in focus today as its board of directors are going to consider and approve issuance of bonus shares. The BSE listed stock with a market cap of ₹9,436 crore has informed Indian exchange about the proposal for bonus shares. The company board is going to consider this proposal in its board meeting scheduled on Friday, 1st September 2023 i.e.

dollar was on course to snap a six-week winning streak against major peers on Friday, as it headed into a pivotal monthly U.S. jobs report that is likely to inform the path for Federal Reserve policy over coming months. The U.S.

Nasdaq higher on Thursday after U.S. inflation data matched estimates, underscoring expectations the Federal Reserve could pause its monetary tightening, while Salesforce climbed following an up upbeat forecast. The Nasdaq reached its highest in over four weeks after a Commerce Department report showed the Personal Consumption Expenditures (PCE) price index, considered the central bank's preferred inflation gauge, climbed 3.3% in July on an annual basis, in line with expectations. Excluding volatile food and energy components, the core PCE price index rose 4.2% in July, year-on-year, also in line with estimates. Traders' expectations for a pause in rate hikes at the Fed's September policy meet remained at an 88.5% chance, while their bets on the central bank keeping rates unchanged in November stood at 51%, according to the CME Group's FedWatch tool. «Investors believe the Fed is data dependent, and the data is in the market's favor.

gold on auspicious occasions is a part of the Indian tradition. There is a heightened demand for digital gold investments during festive periods, primarily driven by customs and traditions, as well as the desire to commemorate special occasions with precious metals such as gold. Digital gold is a relatively new way to purchase gold online.

U.S. applications for unemployment benefits fell slightly last week as businesses continue to retain employees in an economy that has largely withstood rapidly rising interest rates for more than a year

An inflation gauge closely tracked by the Federal Reserve remained low last month, adding to signs of cooling price increases and raising the likelihood that the Fed will leave interest rates unchanged when it next meets in late September

Delta Air Lines says it has upgraded its entire fleet to protect the planes against radio interference from wireless signals

A Trump-era rule allowing railroads to haul highly flammable liquefied natural gas will now be formally put on hold to allow more time to study the safety concerns related to transporting that fuel and other substances like hydrogen that must be kept a...