Manufacturing Financial News

KRN Heat Exchanger which opened for subscription earlier today, sailed through on the first day of the bidding process. The issue has been subscribed 7.5 times so far, driven by strong demand from the non-institutional investors. As of noon, the issue was subscribed by 14.75 times by the NIIs while the retail category had subscribed the issue by 8.8 times. Meanwhile, the qualified institutional buyers (QIBs) attracted bids of 34,710 shares against the 31,07,455 reserved for them.

Jaishankar highlighted India's role as co-chair of Working Group 1 in global efforts to combat the illicit manufacture and trafficking of synthetic drugs. He was addressing the Summit for the Global Coalition to Address Synthetic Drug Threats on Tuesday (local time). Taking to social media platform X, Jaishankar stated that India had faced a lot of challenges due to the nexus between terrorist organisations, narco-trafficking and cross-border rackets.

Subscribe to enjoy similar stories. In a recent article, I told you about three lesser-known super investors who are making big moves and proving their mettle. These are not the usual suspects who are in the news almost round the year, but silent players who are making bank without making waves.

Subscribe to enjoy similar stories. New Delhi: Complaints against Ayurvedic products that make exaggerated, misleading or deceptive claims to be better than modern medicine can now be filed on a dedicated government portal, two people directly involved with the process said.

Donald Trump has pledged to stop U.S. businesses from shipping jobs overseas and to take other countries’ jobs and factories by relying heavily on sweeping tariffs

Subscribe to enjoy similar stories. Donald Trump is pitching himself as a national economic development recruiter, wooing foreign manufacturers with tax breaks and federal land while using tariffs to punish companies that don’t move production here. Trump, in a speech Tuesday in Savannah, Ga., is expected to say that in a second term he wants the U.S.

Competition Commission of India (CCI) on Tuesday approved the proposed acquisition of stakes in Home Credit India Finance by TVS Holdings, STPL, Premji Invest Group as well as other related transactions. The deal includes acquisition of 80.74 per cent, 8.47 per cent and 10.79 per cent of the issued and paid-up share capital of Home Credit by each of TVS Holdings Ltd (TVSH), STPL Trading and Services Pvt Ltd (STPL), and PI Opportunities Fund-II (PIOF), respectively. The regulator also granted its nod for the acquisition of 2.6 per cent, 4.3 per cent, 2.7 per cent, and 90.4 per cent of the equity share capital of STPL by K Gopala Desikan, Anuraag Agarwal, V Ganesh, and GWCF, respectively.

Pan Gongsheng unleashed one of the country’s most daring policy campaigns in decades. In what amounts to a massive adrenaline shot for an economy on the cusp of a deflationary spiral, the governor of the People’s Bank of China and other top financial officials unveiled a series of easing measures that market watchers had wanted for weeks at a rare, high-level press conference on Tuesday in Beijing. They include interest rate cuts, more cash for banks, bigger incentives to buy homes and plans to consider a stock stabilization fund. Markets on the mainland and in Hong Kong soared, with the CSI 300 Index — a benchmark of onshore Chinese stocks — posting its biggest gain since July 2020. US equity futures advanced and European stocks climbed on the back of sectors with heavy exposure to China, including manufacturers of automobiles and luxury goods.

shares in Exxaro Tiles Limited through its European subsidiary BofA Securities Europe SA on Tuesday at a price of Rs 6.4 crore via block deal. The price it paid for each share of this smallcap counter was Rs 96.22. The stock today ended at Rs 95.90 on the NSE, gaining by Rs 15.51 or 19.29% over the Monday closing price of Rs 80.39.

Last month, echoing a U.S. announcement three months earlier, the federal Liberals announced a 100 per cent tariff on the import of Chinese electric vehicles (EVs). China wasted no time striking back where it would hurt most, launching an anti-dumping investigation into Canadian canola exports. While there’s no evidence of dumping, there’s a very high likelihood the move is a procedural pretext to halting canola imports. China has long been the biggest canola buyer and was expected to purchase 70 per cent of this year’s bumper crop.

Subscribe to enjoy similar stories. Shares of Amber Enterprises India Ltd hit a new lifetime high of ₹5,361 on Tuesday before ending the day 4% lower. The company is known for its contract manufacturing of consumer durable products, particularly air conditioners (AC).

Subscribe to enjoy similar stories. German companies are feeling ever less confident, adding to concerns that Europe’s largest economy could be slipping back into recession. The Ifo Institute’s business-climate index slipped to 85.4 in September from 86.6 a month earlier, the think tank said Tuesday.

Subscribe to enjoy similar stories. Intel has never been this cheap. That doesn’t make the storied chip maker a great deal.

Subscribe to enjoy similar stories. In the world of alternative proteins, August was a month of milestones. India’s government approved the Biotechnology for Economy, Environment and Employment (Bioe3) Policy, with manufacture of “smart proteins" as a key focus area.

Donald Trump will pledge to personally recruit foreign companies and outline new incentives — including an offer of federal land — designed to lure operations to the US during an economic address on Tuesday in Savannah, Georgia. The Republican presidential nominee will outline a carrot-and-stick approach, according to a senior Trump adviser who requested anonymity to detail the proposal, luring those who sell into the US with a more favorable business climate while also threatening harsh tariffs on imports. The speech is the latest effort by Trump to cast himself as the best steward of the economy, seeking to seize on a top issue for voters with less than 50 days before the election. Trump’s Democratic opponent, Kamala Harris, is expected to outline her own economic vision during a campaign appearance in Pittsburgh on Wednesday.

U.S. stock indexes reached new heights after drifting higher in a quiet day of trading

The Caisse de dépôt et placement du Québec is launching a new investment platform through which it plans to build a portfolio of forestland in the Pacific Northwest region of the United States.

Indian Navy drone in the Bay of Bengal last week, preliminary reports indicate. The high-value drone was lost last Wednesday in a 'controlled ditching' at sea following a technical glitch. Sources said that the crash took place after the battery of the drone that powers up its electrical systems got depleted during flight. This, they explained, took place after a reported double generator failure, a recurring problem with the MQ9 fleet in service with the US. Officials said the drone most likely disintegrated on crashing into the sea and will be difficult to recover given the depths involved. It is being described as a total loss, though the Navy will not have to bear the costs as the drone has been taken on lease and was being operated by its manufacturer, General Atomics. The manufacturer has also been asked to submit a report on the accident by the Navy.

Samsung's Sriperumbudur plant in Tamil Nadu is escalating and it poses a serious risk to the manufacturing ecosystem in the region, think tank GTRI said on Monday. It said the Centre and Tamil Nadu governments need to intervene immediately in the matter. «If the strike at Samsung's Sriperumbudur plant is not resolved soon, India risks losing significant ground in its quest to become a global manufacturing powerhouse,» the Global Trade Research Initiative (GTRI) said in a statement. It added that the strike is quickly becoming a major crisis, and it will threaten the state's position as a leading electronics manufacturing hub.

PLI) scheme for white goods such as AC and LED lights is likely to see muted response as several large manufacturers are not going to file fresh investment proposals under it, industry executives said. This third round was opened on July 15 and will close on October 12 to attract additional investment for production of components. Chief executives of five large manufacturers, who are exiting beneficiaries of this PLI scheme, said the tenure of the scheme for availing incentives remains same till 2028-29 for the third round applicants as those in the earlier two rounds, which does not make it worthwhile since it takes almost two years to start a factory after approval. Also, the third round has also not changed the clause for PLI applications that a single company may apply for any one category. The chief executives said to make a fresh investment commitment, they need to change their corporate structure which makes no sense since most of the technological collaborations are already with the existing entity.

Subscribe to enjoy similar stories. Two chip-making giants have discussed building huge factory complexes in the United Arab Emirates that could transform the industry in the coming years and become a cornerstone for artificial-intelligence investments in the Middle East. Top executives at Taiwan Semiconductor Manufacturing Co., the world’s largest chip maker, have visited the U.A.E.