Manufacturing Financial News

Ratnaveer Precision Engineering reached a new all-time high of ₹167 per share in today's session, gaining 3.2%. Over the past 8 sessions, the stock has surged 32%, and it has increased by 39% in the current month so far.In its recent note, domestic brokerage firm ICICI Direct Research has initiated coverage on the stock, assigning a 'buy' rating with a target price of ₹200 apiece, which indicates an upside of 24.22% from the stock's previous closing price.The Gujarat-based stainless steel (SS) product manufacturer offers a diverse portfolio, including SS finished sheets, washers, solar roofing hooks, pipes, and tubes, which are widely used across numerous industries.

Whirlpool of India rose 19% on BSE to its fresh all-time high of Rs 2,190 as German engineering group Robert Bosch is reportedly weighing a bid for the parent company Whirlpool Corporation. The privately held German industrial firm has been consulting with potential advisers about a possible bid for Whirlpool Corporation, Reuters said, citing three people familiar with the matter

demat accounts.Also Read: Visaman Global Sales IPO price band set at ₹43 per share; SME IPO to open on June 24The initiation of the refund process will start on Monday, April 29, for individuals not given shares. Those allotted will receive their shares in their demat accounts on Monday.Visaman Global IPO listing date is scheduled for Monday, July 1.If you have applied for the Visaman Global Sales IPO, you can do a Visaman Global IPO allotment status check on the website of the IPO registrar, which is Link Intime India Private Ltd.

Jefferies maintained an underperform rating on Dr Reddy’s Laboratories, Equirus recommended a Long on PI Industries, Morgan Stanley initiated coverage on Go Digit with an Equal Weight rating and Jefferies has a hold rating on Bharti Hexacom. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on Dr Reddy’s Laboratories: Underperform | Target Rs 5010

₹51 crore from anchor investors.Also Read: Vraj Iron and Steel IPO: GMP, subscription status, price, review, other details. Buy or not?The initial public offering of Vraj Iron and Steel has set aside a 15% of its shares for non-institutional institutional investors (NII), 50% of its shares for qualified institutional buyers (QIB), and 35% of its shares for retail investors.Under the Vraj brand, the firm produces sponge iron, M.S. Billets, and TMT bars.

One of President Joe Biden’s signature laws aimed to invigorate renewable energy manufacturing in the U.S. It will also help a solar panel company reap billions of dollars

NEW DELHI : The Union budget in July is likely to restore the concessional 15% corporate tax rate for new manufacturing facilities, a scheme introduced in 2019 that expired on 31 March this year, two persons aware of the matter said. The plan now is to extend this scheme by one to two years to facilitate fresh manufacturing investment, which is a priority for the National Democratic Alliance (NDA) government, one of the two persons cited above said on condition of anonymity. The Centre wants to give a strong thrust to the manufacturing sector as it could generate well-paid employment to a large number of people currently engaged in low-paid farm activities.

Canada’s decision to provide billions of dollars’ worth of incentives to companies building battery plants could bolster the manufacturing sector, but may not be the ideal move to boost the country’s overall productivity levels that have been on the decline, says a new report by the Conference Board of Canada.

ice cream manufacturer has recalled multiple products, media outlets reported quoting the Food and Drug Administration. The decision taken by Totally Cool, Inc. of Owings Mills was owing to «possible health risk», as per the FDA. In a relief, there has been no report of illness due to these products, FDA has stated.

A mechanic for a Boeing subcontractor claims he was fired after complaining about poor repair work on planes in a Boeing factory near Seattle

Electric vehicle manufacturer BGauss has launched its latest EV, the BGauss RUV 350. This new e-scooter comes in three variants: RUV 350i, RUV 350 EX, and RUV 350 Max. Prices start at Rs 1.10 lakh for the base model, going up to Rs 1.35 lakh for the top-spec variant. Deliveries will begin in July through BGauss's network of 120 dealerships across India. The RUV 350 features a 3.5kW electric motor, delivering a peak torque of 165 Nm and a top speed of 75 kmph. It is powered by a 3 kWh lithium LFP battery. The top-spec model boasts a range of up to 120 km on a single charge, while the RUV 350 EXi and RUV 350 EX variants offer ranges of up to 90 km. The e-scooter is built on a micro-alloy tubular frame with suspension duties handled by a telescopic fork at the front and twin shock absorbers at the rear. Braking is managed by drum brakes on both ends, and it rides on 16-inch wheels with tubeless tyres.

A U.S. appeals court says that Smith & Wesson must comply with a subpoena from New Jersey officials investigating whether the gun-maker engaged in any deceptive advertising

Bharat Heavy Electricals Ltd (Bhel) and Larsen & Toubro."MEIL emerged as the lowest bidder, demonstrating its exceptional technical capabilities and cost-efficiency by submitting the lowest bid of ₹12,799.92 crore," the statement said.Ch Subbaiah, director, MEIL said, "This contract represents the most significant project for MEIL and our strategic entry into the nuclear energy sector." MEIL has its presence in a number of sectors including hydrocarbons, electric buses, defence, telecom, power, transport, manufacturing, general and social infrastructure, irrigation, and drinking water.It also has a global presence and in September last year it bagged a deal to construct a crude oil refinery plant valued at $648 million from Mongol Refinery State Owned LLC.MEIL's foray into the nuclear power space comes at a time when the Union government is looking at increasing India's nuclear power capacity in line with the ambitious target to install 500 GW non-fossil fuel capacity by 2030.On Tuesday, Union minister Jitendra Singh said that India’s nuclear power generation capacity is likely to increase by 70% in the next five years.

Centre fixes price of drugs for diabetes, hypertension, multivitaminsThe primary task of the committee is to strike a balance between pricing and availability of essential medicines, while offering incentives to the industry to foster growth and exports. Prices of drugs in India are regulated as per provisions of Drugs (Prices Control) Order, 2013, by the NPPA, under the aegis of the Department of Pharmaceuticals (DoP), that fixes the ceiling price of scheduled medicines.

America’s insatiable demand for weight-loss medications is minting vast fortunes—and not just for the makers of GLP-1 drugs such as Ozempic. Shares of Hims & Hers Health, the telehealth provider better known for its trendy commercials for erectile-dysfunction medications, are up more than 150% this year. The company said last month it would start offering compounded forms of the injections that use the same active ingredients as the popular drugs Ozempic and Wegovy.

New Delhi, India – June 26, 2024 –Flychem is a leading manufacturer and distributor of high-quality ingredients for personal care, home care, pharmaceuticals, food and beverages, agriculture, and nutraceuticals while prioritizing quality and sustainable practices. Flychem is proud to announce the launch of the world’s most advanced high-purity Encapsulated Salicylic Acid under the brand name KOSAVATM.

manufacturing giant Boeing is facing a huge crisis, having received orders for only four new planes in May. Orders for its once-best-selling 737 Max have almost dried up since an incident in January, in which the side panel of an Alaska Airlines aircraft blew out mid-air. The crisis, however, was not entirely unexpected.

Lumax Auto being a notable performer. The company's shares have been on a consistent winning streak, concluding the last 17 months with impressive gains.Also Read: Amara Raja shares gain 108% in CY24 so far; what lies ahead for this battery stock?From their January 2023 trading price of ₹224 apiece, they have surged by a remarkable 147% to trade at the current price of ₹554 apiece.

Taratala factory in Kolkata last week, and speculation is now rife that the biscuit-maker may fully exit West Bengal.The FMCG major on June 20 informed the exchanges that all permanent workers at its Taratala factory in Kolkata accepted a voluntary retirement scheme (VRS), leading to whispers of a possible shutdown of one of the company’s oldest units in India.On social media and in media reports, the Britannia news has led to comparisons with the departure of Bata and Tata Nano from the eastern Indian state.However, Amit Mitra, special advisor to the Chief Minister of West Bengal on finance, on June 25 told reporters that Varun Berry, MD of Britannia Industries has assured him the company is committed to stay and will maintain its registered office in Kolkata, PTI reported.“It's registered office will stay in Kolkata. The shareholders meeting will continue to be in Kolkata.

India's space ambitions: Market forces are with us“While Australia has partnerships with multiple nations for space ventures, we are taking our engagement with India to the next level. The partnership will lead to Australian satellites being launched into orbit from Indian soil," Green said at the inaugural keynote at the Indian Space Congress 2024.The partnership will involve several stakeholders in India's private space economy including domestic space-engineering firm Ananth Technologies, which has supplied components and engineering services to Isro in many previous missions.Pawan Goenka, chairman of the Indian National Space Promotion and Authorisation Centre (In-Space), a government-affiliated space promotions agency, confirmed that the SSLV was being privatised and that the bidding process was still ongoing.

By Deepak Pahwa