Manufacturing Financial News

grey market premium (GMP) for the company’s shares is currently pegged at Rs 12-13, indicating a potential premium of 16% above the issue price. The price band for the IPO has been fixed at Rs 72-76 a share.

«If you look at the broad market, it is up more than 1% overall. So, there is a lot of buying pressure in this market. Perhaps the fundamentals you could argue have been frothy for over six months now but the market continues to have run higher,» says Deepak Shenoy, Founder, Capital Mind. What do you make of the market mood right now because there are people who are waiting for dips to come by. They are calling the markets a bit more frothy, expensive, difficult to find ideas but the liquidity gush really continues and the market continues to trend higher. Deepak Shenoy: Indeed, in fact, people who have been waiting from pre-election times for the market to dip, they got one, they thought there will be another bit of a dip after that and then the market went up. Last week we saw, what, it is less than a week now and we have seen capital gains tax increase and still the market seems strong. Though today I think the Nifty is kind of lacklustre.

by Dave Fazekas and Brendan McCurdy

Few industries do well when their products keep breaking down. Jet-engine makers are currently an exception—and this is raising eyebrows. Shares in RTX Corporation hit a record high last week after the aerospace conglomerate significantly beat second-quarter earnings forecasts.

Steel products maker Goodluck India on Monday posted a 22 per cent rise in consolidated net profit to Rs 34.99 crore during the June 2024 quarter, helped by higher income. It had clocked Rs 28.59 crore profit in the year-ago period, the company said in an exchange filing. The company's total income rose to Rs 917.73 crore from Rs 859.05 crore in the April-June period of FY2023-24.

Tata International has planned to increase the share of its sustainable leather from 27% of its total production in FY24 to 50% in the next four years.

AIA Engineering via a filing on Monday announced that the company’s board might consider a buyback of its shares in its upcoming meeting. Following this announcement, the shares of the company jumped 7% to its new all-time high of Rs 4,690 on the BSE. “The meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, August 07, 2024, to consider a proposal for buy-back of equity shares of the company and other matters incidental and necessary thereto, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended, and other applicable laws,” said the company in a filing to the exchanges.

More U.S. manufacturers are rethinking their plans as they brace for an extended slump in demand. Higher interest rates, rising operating costs, a strengthening U.S.

Asian shares bounced on Monday ahead of a week packed with earnings and a trio of central bank meetings that could see the United States and UK open the door to easing, while Japan might lift borrowing costs in a step toward «normality». Also due is the U.S. jobs report for July, closely watched surveys on U.S. and global manufacturing, along with Eurozone gross domestic product and inflation data.

Ola Electric Mobility as the valuation of the electric two-wheeler maker's initial public offering (IPO) approaches $4 billion, down from earlier expectations. The IPO is set to open August 2. Domestic investors, including SBI AMC, HDFC AMC, Nippon Life India AMC and UTI AMC will bid about $200 million each, while international ones such as Fidelity, Nomura and Norway's Norges Bank will bid in the range of $75-100 million each.

patient assistance programme (PAP), which is designed to provide free access to drugs which are otherwise expensive, should be kept outside the scope of trade margin rationalisation (TMR).

medical devices in the country, the government may do away with the requirement of clinical investigation of those devices approved in the European Union (EU), people aware of the proposal told ET.

Mint's emerging markets (EM) tracker for a seventh straight month, thanks to a stellar performance by the stock market, whose average monthly capitalization rose by 5.3%, the best among all other emerging market peers in the league table. Apart from India, Malaysia was the only other country to witness a rise in its stock market capitalization during the month. Strong GDP growth and Purchasing Managers’ Index manufacturing also played a role in keeping India on top.

foreign direct investments from China, and the government can consider FDI applications from Beijing in sectors involving high-end technologies like electric vehicles and batteries, which are not available in other nations, an official said. China has some modern capital equipment of different types, which can be important for India.

foreign direct investment norms in the tobacco sector to check promotional activities and curb smuggling in the segment as firms are trying to circumvent norms, an official said. At present, foreign direct investment (FDI) is prohibited in the manufacturing of cigars, cheroots, cigarillos and cigarettes of tobacco or its substitutes.

Mint spoke to founders and investors to understand the evolution of the luggage industry, the attributes of the new entrants, barriers to entry and scaling, and the industry’s outlook. India’s organised luggage market is led by companies such as VIP Industries, Samsonite and Safari. The organised sector accounts for about 40% of India’s ₹15,000-crore luggage industry, according to a report by global analytics firm Crisil last year, and it is mainly this segment that has boomed in the wave of the pandemic.

Nifty cross 25,000 this week? Fed meeting & 5 other factors to watch out for Driven by positive US GDP data, expectations of improved global demand and unflinching faith of domestic investors, the stock market has recovered all its post-Budget losses to leave many market veterans surprised.

gold prices have shown ferocious moves compared to equities. Investors and traders need to be calculative while making investment decisions at this time. Gold had given 16% return in year-to-date 19 July 2024, compared to the 14% return given by the Nifty 50 index – the most widely tracked gauge of stock market performance. However, Union Finance Minister Nirmala Sitharaman announced a sharp cut in import duties to 6% from 15% earlier on gold, in Union Budget 2024. This pulled down the price of yellow metal. Compared to Rs 72,718 per 10 gram on MCX on 22 July 2024 the gold prices went down to Rs 68,510 by end of 23 July 2024 – the day of budget announcements, and then went to hit a low of Rs 67,462. Equities on the other hand tanked for a while due to increase in taxation of capital gains, but quickly recovered to go higher. These price gyrations baffled many investors. A look at the drivers of price change however should help to take a more informed decision.

Elon Musk unveiled his audacious aspirations for the company's future during Tesla's second quarter earnings call in 2024. Musk maintained his optimism while outlining numerous important projects, even after the revelation caused a 45% drop in net income and a 10% drop in the price of Tesla's stock. These six statements are arranged according to how likely they are to come true in 2019, as per the reports of Yahoo finance.

drug that is used by medical practitioners as an anesthesia to curb extreme levels of pain before and after surgeries? What if this particular drug is responsible for killing 70% of more than 112,000 drug related deaths in the US? Yes, it has its positive uses but its overdose can kill people instantly. Fentanyl, an opioid is what is being discussed here.