Manufacturing Financial News

Bharat Agri Fert & Realty Ltd plans to develop a 7-star theme-based resort on the outskirts of Mumbai with an investment of about Rs 55 crore. It plans to launch an additional 170 rooms, along with a banquet hall and enhanced amenities by 2025-2026, thus offering the perfect venue for destination weddings on the banks of a river within the 120-acre freehold land, the company said in a statement.

FMCG major Hindustan Foods (HFL) surged 15% today on BSE to Rs 582.50 after a likely equity stake sale of 11.1% via a block deal on Wednesday. The deal size is said to be approximately worth Rs 720 crore. Westbridge, Sixth Sense are among a few PE investors that are likely to be the sellers in the transaction. However, the official details of the buyers and sellers are not currently known.

JM Financial initiated coverage on small cap stock Shivalik Bimetal Controls (SBCL) with a target price of Rs 730 as they believe that the company is a niche player in the market and may be geared up to capture manufacturing opportunities. SBCL is predominantly a bimetal / electrical contacts manufacturer but ventured into the shunt resistor business from 2014-15. It has gained significant dominance in the domestic market and is now ready to further expand the export opportunity with capex already done and capacity in place.

Tata Steel aims at having a minimum of 25 per cent of its workforce made up of diverse groups, including gender minorities, marginalised communities, persons with disabilities and LGBTQIA+ individuals, within the next few years, a company official said. It is one of the first companies in the country to roll out a special recruitment drive for transgender talent, having recruited over 100 members from the community for various roles across different locations, the official claimed. «Continuing this drive, we aim to have 25 per cent of our workforce from diverse groups in the next couple of years,» the official said.

Bajaj Auto, India’s largest exporter of two and three wheelers has inaugurated its new manufacturing plant in Manaus, Brazil, it said in a statement on Wednesday. This will be the company’s first manufacturing facility outside India. In all the other markets in which it has a presence the company follows a distribution-led model – the distribution partners manage local operations, including assembly. Bajaj now sells vehicles in 100 countries. The Bairro Tarumã-based factory with an area of 9600 square meters has a capacity to produce engine assembly, vehicle assembly, and testing facilities has a production capacity of 20,000 units per annum on a single shift. It can be expanded further in due course to accommodate additional production capacity to up to 50,000 units per year. Initially, the plant will focus on manufacturing Dominar models and later Pulsar models when they become available for introduction. «With the establishment of our own plant in Brazil we have achieved a quantum shift in our local capability to fulfil demand. Our Dominar brand has received an outstanding reception since its launch 18 months ago. The new manufacturing capabilities will enable us to build a wider distribution network, introduce new products and meet growing expectations of our customers.” Rakesh Sharma, Executive Director of Bajaj Auto said in the statement.

Quant Mutual Fund, which is under Sebi’s investigation for a suspected front-running case, was sitting with around Rs 9,355 crore cash pile in May, an analysis by ETMutualFunds showed. This was around 12.41% of the total AUM. The total equity AUM of the fund house was Rs 66,052 crore. The fund house has around 21 equity mutual fund schemes. Of these 21 schemes, four schemes had more than Rs 1,000 crore cash in their portfolio. Quant Small Cap Fund had the highest cash allocation of Rs 1,607.37 crore. The total equity AUM of the small cap schemes is Rs 19,635 crore as on May 2024. Also Read | Why investors should not panic or stop SIP in Quant Mutual Fund after front-running crisis

₹537 crore initial public offering (IPO) of Stanley Lifestyles was available for subscription between June 21 and June 25 with a price band of ₹351-369. The issue saw overwhelming demand, being subscribed 97.16 times in the 3 days of bidding.

IPO) of Vraj Iron and Steel opened for subscription earlier today. The company plans to raise around Rs 171 crore through the issue, which closes on June 28. The IPO comprises only a fresh equity issue of up to Rs 171 crore.

Surana Telecom and Power, previously a penny stock, has delivered exceptional returns for long-term investors. Over the past four years, its stock price has surged by an impressive 796 percent, climbing from ₹2.95 in June 2020 to around ₹26.45. This remarkable growth highlights Surana's consistent value appreciation, making it a standout performer in the penny stock category and showcasing its potential as a high-return investment opportunity.Meanwhile, over the past 5 years, the stock has surged by an impressive 494 percent, rising from ₹4.05 in June 2019.

Star PMS fund manager Deepak Shenoy says he is investing in 5 strong megatrends in his Surge India Portfolio — manufacturing, energy independence, consumption, financialization of savings and infra growth. «It’s always difficult to find good companies, but there are enough tailwinds in a surging Indian economy to provide disproportionate growth in a few “maha” trends that we think are still very attractive,» he says. Edited excerpts from a chat with Deepak Shenoy, CEO and Founder, Capitalmind:

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, says fertilizers and agrochemicals is one sector where they have become bullish. He says last week's excitement was based on the fact that some GST concession was expected and that is, to an extent, unfounded. He does not think the GST Council has yet started deliberating on that at all. So, it will take a lot of time. Amara Raja has doubled this year already. Exide is up 80% and there are still buyers.

Pre-Budget Consultation with experts from the employment and skill development sectors to take suggestions for the forthcoming General Budget 2024-25, in New Delhi, on Tuesday. Leading names in the sector of skilling and employment such as Anshuman Magazine, Suchita Dutta, Sarvesh Agrawal, and Gayatri Vasudevan were present in the meeting. After the meeting, Anshuman Magazine, former Chairman of CII Northern Region and CEO-India, South East Asia, Middle East and Africa, Global Commercial Real Estate Services, said that the experts conveyed the need for skilled people. He said, «Basically the discussion was centered on skilling and employment generation. People from different sectors tabled their suggestions during the meeting. Considering the huge number of graduates coming out from the colleges, the experts suggested how can we make them job ready.»

One Piece episode 1110 as the Egghead Arc nears its conclusion. The popular series, adapted from Eiichiro Oda's manga, continues to thrill viewers.

Exporters sought the creation of an Indian shipping line, duty cuts on import of products like wet blue leather, extension of a key scheme for small exporters to avail pre- and post-shipment rupee export credit, and duty drawback for platinum jewellery at their pre-budget meeting with finance minister Nirmala Sitharaman on Tuesday. Highlighting the need for an Indian shipping line, the Federation of Indian Export Organisations president Ashwani Kumar said that India's outward remittance on transport services is increasing with rising exports. «We remitted over $109 billion as transport service charge in 2022. As the country moves towards the goal of $1 trillion, this will touch $200 billion by 2030. A 25% share by the Indian shipping line can save $50 billion on a year-on-year basis,» he said.

Air-conditioner manufacturers such as Voltas, Daikin and Godrej Appliances are focusing on developing and selling models that can operate at high outside temperatures, some even up to 55-56C, after this year's intense heatwave and instances of poor cooling from ACs especially in North where temperatures crossed 45C in many places. The companies are going to increase the proportion of models in their line-up which can operate above 42-44C. In the North, they plan to offer ACs that can work at 50C and above. The move comes after the average temperatures this summer have been 4-6 above normal in most places, with the eastern and southern regions too recording over 40C in many places. «The industry is looking at developing some models which can live up to the extreme summer temperatures which were recorded this year,» said Pradeep Bakshi, managing director at Voltas, the country's largest AC brand.

Bugatti has unveiled its latest model which is said to be the world’s fastest car that can travel at a speed of approximately 250 mph. This is faster than the Shinkansen bullet train in Japan. There will be a limited number of cars of this model that are being manufactured. It will cost $4.1 million. The company has announced that the booking for this car is open and can be done online. Bugatti which had a record for manufacturing the world’s fasters cars, the Chiron Super Sport and the Veyron hopes to reclaim this title with the launch of this new model called “The Tourbillion”.

₹51.29 crore from its anchor round ahead of its initial public offering (IPO) on Wednesday, June 26.According to an exchange filing, the metal manufacturer allocated 24,78,259 equity shares to anchor investors at ₹207 per share.Volrado Venture Partners, Ashika Global Securities, Capri Global Housing Finance, Rajasthan Global Securities, Leading Light Fund, and Astorne Capital were the anchor investors who participated in the round.According to the filing, no mutual fund has applied through any scheme for any of the 24,78,259 equity shares allotted to the anchor investors.Volrado Venture Partners and Ashika Global Securities got the most equity share allocation at 48.74 per cent and 12.28 per cent, respectively.The metal manufacturer's IPO will open for retail subscription on Wednesday, June 26, and close on Friday, June 28. The price band for the IPO has been set at ₹195 to ₹207 per equity share, with a face value of ₹10 per share.The Vraj Iron and Steel IPO is valued at ₹171 crore.

CNG systems during manufacturing, Honda will reportedly provide these kits through its dealerships as aftermarket add-ons. This approach allows flexibility for customers to retrofit CNG capabilities onto both manual and CVT transmission versions of the aforementioned models.Reportedly, the CNG conversion is likely to be priced between ₹75,000 to ₹85,000 inclusive of installation, and will include a one-year warranty from Honda dealerships, ensuring peace of mind for buyers.

Sanghi Industries' promoters Ambuja Cements and Ravi Sanghi will sell stakes in the company via offer for sale (OFS), the cement manufacturer said on Tuesday in an exchange filing. The promoters proposed to sell 90,92,000 shares representing 3.52% of the total issued and paid-up equity share capital. The two-day OFS will open on June 26.

MUMBAI : A crucial and much-awaited trigger for battery maker Amara Raja Energy & Mobility Ltd has played out—a technology tie-up for lithium-ion. Its subsidiary Amara Raja Advanced Cell Technologies entered into a technical licensing agreement with GIB EnergyX Slovakia, a subsidiary of China-based Gotion High Tech Co. The partnership will help the battery maker get access to GIB’s LFP technology for lithium-ion cell manufacturing.

Beetel Teletech on Tuesday said it has signed a deal with Alcatel-Lucent Enterprise to distribute the French company's product portfolio, including its networking and communications solutions such as network switches, wireless access points and routers. «By combining Alcatel-Lucent Enterprise's world-class product portfolio with our deep understanding of the Indian market, we are well-equipped to deliver unmatched value to enterprises across various critical sectors,» said Sanjeev Chhabra, managing director at Beetel, said in a joint statement.