Manufacturing Financial News

«I doubt there will be any major changes, except for the saying that there has been challenges for FD immobilisation, which may need a tinkering, but may not be a drastic change in taxes. But if there are any of those things which you are talking about, then there can be a negative repercussions for the market,» says Pramod Amthe, InCred Capital. What is your take on the markets in run-up to the budget because we have seen most of these counters or sectors actually be abuzz in anticipation of what is likely expected in the budget. What is your view? Pramod Amthe: In terms of budget expectations, clearly what we are looking forward is some amount of relief to come through for the middle class and also looking at the election side relief for rural segment or the rural markets either in the form of looking at some direction for MSP or to that extent relief on exports of agri commodities so that should also give us some hints about sustaining the rural recovery which has seen initial signs of turnaround in the March and June quarter. So, those are the factors which we would look forward to for the budget expectations.

Varun Beverages (VBL), PepsiCo's bottling franchise partner, will set up manufacturing units in Zimbabwe and Zambia with an investment of $7 million (close to ₹60 crore), the company said in a regulatory filing on Monday. VBL said two of its subsidiaries plan to enter into an agreement with PepsiCo to manufacture, distribute and sell snacks brand Simba Munchiez in Zimbabwe and Zambia. These subsidiaries are VFZ Varun Foods (Zimbabwe) (VFZ) and Varun Beverages (Zambia) (VBZ).

high efficacy" malaria vaccine co-developed by the Serum Institute of India (SII) and the University of Oxford was officially rolled out on Monday when Cote d'Ivoire in West Africa became the first country to begin administering R21/Matrix-M. The vaccine, which was granted World Health Organisation (WHO) approval last year, is said to have undergone a rigorous regulatory process and clinical assessment and was found to be highly effective and affordable. As a low-dose vaccine, it can be manufactured at speed and scale which is seen as critical to stemming the spread of the mosquito-borne disease. «Reducing the malaria burden is finally within sight. Today's start of the R21/Matrix-M vaccine roll-out marks a monumental milestone after years of incredible work with our partners at Oxford and Novavax,» said SII CEO Adar Poonawalla. «At Serum, we believe that it is every person's right to have access to affordable and essential disease prevention. That's why we have committed to producing 100 million doses of R21, which will protect millions of lives and alleviate the burden of this deadly disease for future generations,» he said.

Adam Driver playing the role of car manufacturer Enzo Ferrari tells his son, 'In all life, when a thing works better, usually it is more beautiful to the eye.' On Sunday night, it wasn't an iconic Italian sports car we saw confirming Ferrari's wisdom of form following function, but the Spanish national team in the Euro football final against England. The 2-1 victory does justice to how the two sides shared momentum.

Niti Aayog has said. Niti Aayog, in a report titled 'Domestic Manufacturing Capacity & Potential Cyber Security Challenges in the Wind Sector and Way Forward', said wind turbines' capability to exchange information through power plant controllers (PPC) poses a significant cybersecurity threat. «The PPC software is of critical importance and associated with risks — used in the device which connects the wind farm directly to the national/state grid. »PPC OEMs of foreign origin, especially neighbouring countries, need to be examined, and a call needs to be taken for their suspension while not adhering to the protocol," it said.

Budget 2024, the spotlight is firmly on the Production-Linked Incentive (PLI) schemes, which have been instrumental in revitalizing the manufacturing sector and strengthening supply chains. The government's proactive steps in enhancing these schemes signal a commitment to bolstering India's economic growth, increasing employment, and positioning Indian industries on the global stage. In a significant move, the Indian government has hiked the allocation for the PLI scheme to ₹6,200 crore during the interim budget for FY25, marking a 33% increase from the previous year’s estimate of ₹4,645 crore. This substantial boost underscores the government's dedication to supporting manufacturing and supply chains across the 14 sectors currently covered, which include mobile phones, pharmaceuticals, automobiles, and electronic products.

Russian Army continues its operation in Ukraine, the soldiers march on using 'Made in Bihar' boots manufactured in Hajipur. Bihar's Hajipur city, known for its agricultural production, is writing its own story by manufacturing safety shoes for the Russian army, which has an acclaimed international presence. Hajipur-based Competence Exports, a private limited company, makes safety shoes for companies based in Russia and designer shoes catering to European markets.

India looks forward to being a prominent player in the global supply chain, Finance Minister Nirmala Sitharaman who will be presenting the Budget for record-seventh time, may have to look at introducing a host of measures to strengthen the manufacturing sector and an improvement in the delivery routes. “With the help of policies, India must increase its share in global manufacturing chains,” Finance Minister Sitharaman said recently, adding that India needs to have greater sophistication in product manufacturing, and the government needs to see how best this can be given policy support. «I also want to underline, much against the advice given by some economists who say India should no longer be looking at manufacturing or ramping up manufacturing, that the country must also increase, with the help of policies, its (manufacturing) share in the global value chains,» she said.

Varun Beverages Ltd, a franchise partner of PepsiCo, on Monday said its two subsidiaries plan to enter into an agreement with the multinational food and beverages major to manufacture, distribute and sell the snacks brand 'Simba Munchiez' in Zimbabwe and Zambia. The company plans to set up manufacturing units in Zimbabwe and Zambia entailing an investment of USD 7 million (around Rs 60 crore), according to a regulatory filing by Varun Beverages Ltd (VBL). Through its subsidiaries — VFZ Varun Foods (Zimbabwe) Pvt Ltd (VFZ) and Varun Beverages (Zambia) Ltd (VBZ), VBL has discussed with PepsiCo to further strengthen and expand the latter's footprint in the snacks portfolio. It has discussed with PepsiCo to enter into an exclusive snacks franchising appointment with Premier Nutrition Trading LLC, Dubai (a PepsiCo Inc. subsidiary) to manufacture, distribute and sell 'Simba Munchiez' in the territory of Zimbabwe and Zambia, the filing added.

RBI) recent analysis of employment data for the pandemic year 2020-21 has revealed significant increases in employment within agriculture and allied activities, construction, health, and social welfare. This report, which measures productivity across 27 sectors, has sparked debate due to the unexpected rise in employment during a year marked by severe economic downturns, resulting from COVID-19. According to RBI's report released last week, there was an 18.5 million increase in employment in agriculture and allied services, while the construction sector saw a 4.8 million rise. These figures align with the real gross value added (GVA) in agriculture, which grew by 4%, against an overall GVA contraction of 4.1%. On Saturday, Prime Minister Narendra Modi referred to the report, stating, «80 million new jobs were created during the last three-four years,» adding that this should silence those perpetuating false narratives about the lack of job creation.

The IPO, which is entirely a fresh equity issue of 29.2 lakh shares, received bids for 65 crore shares as against just 20.96 lakh shares on offer.

Budget expectations: Finance Minister Nirmala SItharaman will present the full Union budget after nearly a week. She presented an interim budget in February. Equity investors are keenly watching the budget for its impact on different sectors and stocks as well as for larger policy goals that impact the market in the long term. While the Budget is likely to set the priorities for the third five-year term of the Narendra Modi government, it is also likely to present a roadmap for the period up to 2047, the hundredth anniversary of India's independence, In her interim budget speech, she said, «In the full budget in July, our Government will present a detailed roadmap for our pursuit of ‘Viksit Bharat’.» The budget is expected to lay emphasis on infrastructure, manufacturing, fiscal discipline, creation of jobs and social spending as well as economic reforms. Below are the sectors which are expected to be the main themes in the budget.

New Delhi: Early Monday morning, a major fire erupted at a multi-story building situated in Mayur Vihar Phase 2, Delhi. The blaze primarily affected a uniform manufacturing shop and a nearby cafe located close to Neelam Mata Temple. The fire caused significant damage to both establishments, resulting in the destruction of internal belongings. Visuals from the scene depicted extensive damage to the property, with interiors ravaged by the flames.

The IPO is a combination of a fresh issue of 4.18 crore shares and an Offer For Sale (OFS) of 1.19 crore shares by selling shareholders.

BUTLER, Pa.—The assassination attempt on former President Donald Trump occurred in a largely rural slice of western Pennsylvania that in many ways typifies the regions Trump is leaning on for strong support in the coming election. Butler County, the site of Saturday’s Trump rally, and the surrounding area are home to an economy that has swung significantly in recent decades. The shift, from the decline of steel and manufacturing jobs to the rise of the natural-gas fracking industry, has left many workers displaced and unsettled.

Mint. “Besides the domestic market, we are also looking at exports to the Middle East, Asia, Africa, Europe and the U.S. These exports contributed to 14% of our revenues in FY24 from 4% a year earlier," Sany’s managing director Deepak Garg said.

BEIJING — China's National Bureau of Statistics on Monday said the country's second-quarter GDP rose by 4.7% year on year, missing expectations of a 5.1% growth, according to a Reuters poll.

₹1.6 trillion from ₹2.42 trillion during the corresponding period of 2023-24, show data from BSE and NSE. The total number of issues fell to 247 from 287. The total amount of corporate bonds raised through the EBP also saw a sharp decline sequentially.

visa regime for expats — including those from China — on a par with that for companies in the 14 sectors under production-linked incentive (PLI) schemes. They cited project execution difficulties due to delays in processing visas for foreign experts, people aware of the issue told ET. This has emerged as a bottleneck amid signs of a pickup in private capital formation. The manufacturers have flagged these issues to their administrative ministries.

hybrid vehicles in Uttar Pradesh may not be able to immediately take advantage of benefits under a promotional scheme that was announced July 5. The state transport authority has informed manufacturers in a July 9 letter that the benefits under the state scheme would apply to vehicles certified under the central government’s flagship Faster Adoption and Manufacturing of Electric Vehicles (FAME II) incentive programme. ET has seen the letter. Senior industry executives said the state is considering linking incentives on hybrid and electric vehicles (EVs) to guidelines outlined in FAME II. Some car makers had raised objections to the incentives for hybrids announced by Uttar Pradesh as they feel any state policies not aligned with those of the Centre will be ad hoc and create confusion. “The state transport authority is unlikely to give a blanket exemption and is considering specifying a price cap incentivising only certain categories of strong hybrids,” a person aware of the discussions told ET. “The eligibility criteria for these vehicles and the guidelines for implementation are likely to be linked to FAME II.”

pharmaceutical industry has sought exemption from the government on fixation of ceiling prices for all low-priced formulations or those that are priced at up to ₹5 per unit. At a meeting last week, the Federation of Pharma Entrepreneurs (FoPE) lobby group also asked for the exemption of patented drugs from price control for 10 years instead of the existing five. According to FoPE, in the absence of a 10-year exemption, many companies are conducting research outside the country. «All formulations sold at ₹5 per unit i.e. per tablet, capsule, ml, gm may be exempted from provisions of ceiling price,» FOPE said in its presentation to the secretary, department of pharmaceuticals (DoP). «The industry has been asking for this exemption for a long time. It would be desirable to allow...small manufacturing units to be kept outside the Drug Price Control Order (DPCO) provisions,» said a person in the know. Earlier, the Indian Pharmaceutical Alliance (IPA), which represents the country's biggest drug manufacturing companies, along with other lobby groups had asked for exemptions from price ceiling regulations for low-priced formulations. The National Pharmaceutical Pricing Authority (NPPA) fixes the ceiling price of essential Schedule I drugs under the DPCO.