Manufacturing Financial News

Time Technoplast, a leading manufacturer of polymer products, saw its shares surge by 12.7% in early trade today, reaching a new all-time high of ₹335 apiece. This rally followed the company's announcement that it had received final approval from the Petroleum and Explosives Safety Organization (PESO) for the manufacturing and supply of high-pressure Type-IV composite cylinders for hydrogen.In mid-March, the company had secured prototype approval for these high-pressure Type-IV composite cylinders from PESO.

shipping sector, spelling trouble for businesses in the city-state. The bunching up of container vessels outside one of the world’s busiest maritime trade hubs — caused by ships avoiding the Red Sea due to Houthi rebels’ attacks — means there’s more cargoes trapped in shipyards for longer. That’s pushing freight rates ever higher, with no immediate end to the congestion in sight. For the manufacturers and exporters needing to get their finished products out of the city-state, that means there may be little choice other than to hold on to their inventories longer than they’d like to.

Stanley Lifestyles is the fourth-largest player in the home furniture market in India with its presence in super-premium, luxury and ultra-luxury furniture ranges. It is a manufacturing retail company that markets its products under the 'Stanley' brand. The Bengaluru-based company is rolling out a ₹537 crore initial public offer (IPO) comprising a fresh issue of ₹200 crore and an offer for sale of ₹337 crore. The IPO represents 25% of the post-issue paid capital of the company. The proceeds would be used to open new stores, renovate existing ones and fund capex for new machinery.

India has been grappling with the issue of manufacturing and marketing of different drugs with the same brand name for long, a person in the know told ET. For example, the brand name, 'Olvance' for the antihypertensive drug, Olmesartan, and 'Oleanz', a brand of the antipsychotic drug, Olanzapine. Likewise, the brand, IMOX for amoxicillin tablets for humans, and INIMOX for a combination of amoxicillin and cloxacillin10 as an injection for veterinary use.

U.S., Treasury Secretary Janet Yellen has announced new sanctions against members of La Nueva Familia Michoacana drug cartel, a notoriously violent group that wars for territorial control with a slate of other Mexican cartels

China's Commerce Ministry has accused the European Union of making unreasonable demands in its investigation into imports of Chinese electric vehicles before announcing it was raising tariffs by as much as 38%

Stocks that are trading heavily or have substantial price changes on Thursday: Accenture, KB Home rise; Snap, Jabil fall

EKA Mobility, which received a tranche of Rs 200 crore from Japan’s Mitsui & Company, is looking at commissioning a third manufacturing facility for rolling out electric buses and light commercial vehicles in the country the next 12-18 months. This strategic infusion of capital will be deployed to meet capital expenditures and working capital needs, supporting EKA Mobility’s expansion in the fast-evolving electric vehicle space in the country, Sudhir Mehta, Founder and Chairman, EKA Mobility told ET. EKA (Pinnacle Mobility Solutions) Mobility — one of the commercial vehicle manufacturers approved under the Champion OEM (Original Equipment Manufacturer) Scheme & EV component manufacturing scheme of the Rs 25,938 crore auto PLI policy — has a strategic partnership with Japan’s Mitsui and Netherlands-based VDL Groep to manufacture electric buses and light commercial vehicles.

exchange-traded fund (ETF) specialising in electric vehicles (EVs) and the emerging automotive sector, named the ‘Mirae Asset Nifty EV and New Age Automotive ETF’. This open-ended scheme is crafted to harness the sector’s promising long-term growth potential.

Milkfood Ltd Share Price: Shares of fast-moving consumer goods (FMCG) major Milkfood Ltd rallied 20 per cent on Thursday, June 20, after the company announced that it may consider announcing an interim dividend and a bonus issue soon. The FMCG major declared that it will conduct its board meeting on June 25 where it may consider approving the dual corporate action.In a regulatory filing to the stock exchanges, Milkfood said, ‘’We hereby inform you that a Meeting of the Board of Directors of the Company will be held on Tuesday, the 25th day of June, 2024 to inter alia, consider and approve the following matter:1.

Mint. The growing popularity of equated monthly instalments (EMIs), or the fixed sum that a borrower must pay every month towards a loan, has further dented the prospects of rental companies. “Today, we have affordable EMIs to buy furniture across all price points," he said.

Union Budget as it can act as a pool of employment generation. «India's workforce is predominantly engaged in agriculture and the informal sector. Agriculture growth depends on rural infrastructure, private sector involvement, and waste reduction. Accelerating reforms in agriculture and food processing, coupled with increased public investments in agricultural infrastructure, can spur employment,» PHD Chamber Of Commerce And Industry said in its pre-Budget recommendations. «Increase public investments in agri-infrastructure such as cold chain infrastructure to store and transport agriculture products to strengthen agriculture supply chains,» PHDCCI added.

Election Commission has received eight applications from aggrieved candidates, including those from the BJP and the Congress, for verification of tampering or modification in micro-controller chips embedded in the EVMs post declaration of Lok Sabha election results on June 4. Terming the suspicion of manipulation of the electronic voting machines «unfounded», the Supreme Court had on April 26 rejected the demand for reverting to the old paper ballot system. But at the same time, the top court had opened a window for the aggrieved unsuccessful candidates securing second and third places in the poll results and allowed them to seek verification of micro-controller chips embedded in five per cent EVMs per assembly constituency on a written request upon the payment of a fee to the poll panel. BJP's Ahmednagar (Maharashtra) candidate Sujay Vikhe-Patil has sought verification of the machines from 40 polling stations.

The Astra Collection’s new diamond and gold jewellery is a tribute to the vibrant traditions of Kutch. The intricate designs inspired by Lippan art motifs such as the peacock, the Tree of Life, and mesmerizing geometric patterns reflect deep cultural meanings and ancient traditions.

Modi 3.0 administration, with a pronounced emphasis on boosting economic growth across various sectors. The government's proactive policies and initiatives are creating a ripple effect, positively impacting industries from infrastructure to technology. Among the most notable sectors experiencing robust growth is defence, spurred by announcements aimed at fortifying India's military capabilities.

French President Emmanuel Macron is joining African leaders to kick off a planned $1 billion project to accelerate the rollout of vaccines in Africa

Navneet Munot, MD & CEO, HDFC AMC, says liquidity flow particularly from domestic investors have been very robust. A lot of this positive news on the macro front, on the corporate front and because of the positive sentiments from the investors is also built into the price. So, valuations in parts of the market may be running ahead of the fundamentals. The way it will get corrected is by earnings growth over a long period of time. What can we look forward to in the next 15 years?

India has emerged as the most attractive consumer market across the globe with trends in consumption in smaller markets likely to merge with large cities, said a report by venture platform and accelerator Fibonacci X, adding that India is poised to grow in the range of 6-10% over the next few years, barring any black swan event. This will help attract higher investments across sectors. The services sector is likely to continue to drive strong economic growth in the country. “Going by economic growth trends, India is poised to be a global hotspot for economic growth. India is not insulated from world risks, but can overcome them faster. We are expecting a growth fuelled future for Bharat,” Kulmani Rana, Founder and CEO, Fibonacci X, said.

₹800 crore and an Offer of Sale (OFS) of 1.36 crore equity shares by promoters and current shareholders.The proceeds of the new issuance will be used to pay off debt and for other company purposes. In the OFS, the selling shareholders are Satish Ramanlal Mehta (up to 1,730,000), Sunil Rajanikant Mehta (up to 40,000), Namita Vikas Thapar (up to 1,408,600), Pushpa Rajnikant Mehta (up to 1,150,000), Bhavana Satish Mehta (up to 531,400), Kamini Sunil Mehta (up to 125,000), BC Investments IV Ltd (up to 7,234,085), Arunkumar Purshotamlal Khanna (up to 300,000), Berjis Minoo Desai (up to 144,642), and Sonali Sanjay Mehta (up to 125,000).The book-running lead managers for the offer are Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India.

Uno Minda rallied 12% to its all-time high of Rs 1,180 in Thursday’s session on BSE after the global brokerage firm Goldman Sachs increased its target price to Rs 1,350 as it maintained a ‘buy’ call on the stock. The brokerage firm predicts that localization in high-margin alloy wheels will support profit growth visibility. It further added that early product portfolio on E2Ws represents kit value optionally.

Specialty chemicals platform Distil has raised $3.1 million in a seed funding round led by Jungle Ventures and India Quotient, with participation from other investors and operators. This marks Jungle Venture’s first seed investment in India since the launch of its First Cheque@Jungle, a programme which aims to invest at least $2 million in early-stage startups from idea to seed stage, according to a statement on Thursday.