Manufacturing Financial News

Budget 2024 indicate an intention to have a multiplier effect for uplifting the poor, youth, women, and farmers. Some key themes emerge out from this year.

Fewer Americans filed for unemployment benefits last week, but applications remained at recently elevated, though not troubling levels

New Century Advisors chief economist Claudia Sahm and Piper Sandler chief investment strategist Michael Kantrowitz discuss whether the economy is on the cusp of recession on 'Making Money.'

Apple's smartphone shipments in China fell by 6.7% in the second quarter of 2024, as the tech giant faced intensifying competition from rivals like Huawei, according to data from market research firm Canalys.

Nokia smartphones are dying a slow death with brand licensee HMD Global now focused on promoting its own brand alongside exploring partnerships and white-label manufacturing with established brand names like Mattel's Barbie and Dutch beverages company, Heineken.

apparel and footwear may become a larger part of the global sourcing for brands like Zara, H&M, Marks and Spencer and Gap with finance minister Nirmala Sitharaman announcing a lot of exemptions on import duties of raw materials for apparel and footwear only when they are further exported. Local manufacturers said this will make the Indian produce price competitive in the global market compared to Bangladesh, Vietnam, Cambodia, China, and Southeast Asian nations.

Jupiter Wagons reported a standalone net profit of Rs 89.23 crore for the quarter ended June 30, 2024 which was up by over 40% over Rs 63.60 crore reported by the company in the year ago period. The total income for the reported quarter stood at Rs 902.19 crore versus Rs 755.41 crore in the corresponding quarter of the previous financial year. This translates into a 19.4% uptick. Company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) surged by over 32% YoY to Rs 128.86 crore as against Rs 97.34 crore in Q1FY24. Meanwhile, EBITDA margin improved to 14.4% in Q1FY25 taking a 150 bps lead over the corresponding quarter of the last financial year.

₹5,615 crore in the June quarter (Q1FY25), slightly above Street estimates. Profitability was led by robust execution of international projects, while domestic ones remained subdued. The strong pipeline of orders worth ₹4.9 trillion – three times the trailing 12 months revenue of L&T’s core projects & manufacturing (P&M) business – should aid the growth momentum.

JK Cement have reinforced analysts’ optimism about the company’s ability to perform better than its peers. The company’s first quarter numbers were in line with analysts’ estimates. In a quarter where demand was affected due to slow down in construction activities, heat wave and labour shortage, the company’s net sales grew by 1% year-on-year to Rs2,719 crore. Net profit grew by 67% to Rs185 crore. A focus on expansion and tighter cost control are the two major factors that set JK Cement apart from mid-tier peers. Capacity expansion has helped the company gain market share in various geographies. At present, over 60% of its cement capacity caters to the northern region followed by 19% and 16% to the central and the southern regions respectively. The remaining 5% capacity is sold in the western region. In its post earnings’ conference call, the company announced a plan to increase capacity two-folds by FY30 from the present capacity of 24MT.

BPEA Credit has committed Rs. 250 crore worth of funds to DMW Group which is engaged in the niche precision manufactured components space, according to a statement from the private credit investor. The funding includes a green shoe option.

Sanstar will debut on the exchanges on Friday. Ahead of the listing, the company's shares are trading with a GMP of Rs 30 in the unlisted market. Considering the upper price band of Rs 35, the stock is expected to list with a premium of 32%.

Mankind Pharma, India’s fourth largest pharma company by market share, is all set to acquire BSV Group, formerly Bharat Serum & Vaccines, from Advent International for around Rs 14,000 crore ($1.67 billion), people aware of the development told ET. Mankind will be trumping a rival bid from a consortium of EQT and Abu Dhabi Investment Authority (ADIA).

Production has halted at a Missouri General Motors plant that manufactures trucks and vans, the result of a strike at the company that supplies seats for the vehicles

BEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla, according to CNBC analysis of the four automakers' first-quarter earnings.

Vietnam has passed a decree radically loosening the Communist Party-ruled state’s control on how electricity is sold to private companies

₹9 trillion by the end of this fiscal from ₹4.9 trillion at the end of Q1on the back of a stronger-than-ever pipeline of large projects, in a reflection of the rising activity in the infrastructure and energy space in India. The company's consolidated order book grew 19% year-on-year (y-o-y) in the June quarter, with the share of international orders at 38%. “We see a very strong order pipeline—60% of this is from domestic opportunities and the rest from overseas," R.

polymer fume fever cases underscores the importance of using cookware responsibly and being aware of potential risks associated with nonstick coatings. In the past twenty years, according to a Washington Post report, poison centers across the United States have documented over 3,600 suspected cases of a condition known as «polymer fume fever.» This flu-like illness has been associated with the fumes released from certain nonstick coatings used in cookware.

budget underscores the government's steadfast commitment to growth without compromising on fiscal discipline. The overarching message is clear: progress for all segments of society through equal opportunity. This blueprint addresses critical sectors such as manufacturing, services, agriculture, and startups, while providing targeted support for women and job seekers. An unwavering resolve to elevate India to a 'developed economy' status by 2047.

Private sector activity in India rose to a three-month high of 61.4 in July from 60.9 in the previous month, the HSBC Flash India Composite Output Index showed Wednesday. Backlogs of work rose further, prompting the best upturn in employment in over 18 years, according to the survey report.

₹18,100 crore production-linked incentive (PLI) scheme for advanced chemistry cells (ACC) is nearly exhausted. Early gainers may include companies already approved under the ACC PLI such as Ola Electric Mobility, Reliance New Energy and Rajesh Exports.

Budget Allocation for Northeast Frontier Railway for the FY 2024-25 is Rs. 14183.69 crores. The allocation for North-eastern states is Rs. 10,376 crores which is about five times higher than the average allocation of Rs. 2,122 crores made during 2009-14.