Manufacturing Financial News

global demand remained comparatively muted in 2023 on account of lower consumer consumption and rising inflation in the main markets of Europe and the US. As a result, India’s merchandise exports also took a hit. However, experts now see a gradual revival in global demand because of the 11.86% year-on-year export growth (to $41.4 billion) in February 2024.

Dr Reddy’s Laboratories: The pharmaceutical company has reported that the US FDA issued a Form 483 with four observations at its API manufacturing facility (CTO-6) in Srikakulam, Andhra Pradesh on June 7. The company has stated that it will address these issues within the stipulated timeline.Mphasis: BCP Topco IX Pte, a Singapore-based private limited company linked to Blackstone, is set to sell a 10.6% stake in Mphasis at a base price of ₹2,350 per share.

Investors will closely watch next week's inflation numbers and Federal Reserve meeting for clues on whether the soft landing hopes that drove stocks to record highs are still justified. This year's rally has lifted the S&P 500 up more than 12% year-to-date, on expectations the Fed can cool inflation without hurting growth. Yet recent economic data have sent conflicting signals: U.S. employment numbers released Friday were far stronger than expected, while earlier reports showed a slowdown in manufacturing and a first-quarter growth rate revised lower.

FPIs have been paring their holdings of defensive stocks instead of those with more growth potential. This shows they remain bullish on the sustained earnings potential of growth stocks in industries like discretionary spending and manufacturing. Data from NSDL shows the weight of defensive stocks such as FMCG, IT, and healthcare fell to a multi-year low of 19.72% as of May-end.

Open access solar installations rose two-fold in India to 1.8 gigawatts during January-March this year supported by several factors, including reduced module cost, US-based Mercom Capital has said. Solar power through open access is an arrangement where a power producer establishes a solar power plant to supply green energy to consumers.

manufacturing services (EMS) industry revenues are set to more than double to reach $55 billion by FY27, driven by increased sourcing of components locally, with Apple, Samsung, Lenovo and other global companies expected to expand their presence in India.

Volvo cars has started to shift production of Chinese-made electric vehicles to Belgium in the expectation that the European Union will drive ahead with a crackdown on Beijing-subsidised imports, the Times reported on Saturday.

budget is likely to bake in higher-than-expected growth in the previous year and an unexpected bounty in central bank profits to aim for speedier fiscal correction. This course would support growth by lowering interest rates. If the budget sticks to the medium-term budgetary roadmap, it would be on account of pushing ahead with capex, which is serving as a ballast to slow consumption growth. The desired crowding-in of private investment is in evidence, although widespread capacity expansion is held back by rural consumption. A middle path — and the most probable scenario — would be a somewhat quicker fiscal consolidation in the budget alongside a delayed tapering of capex.

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Anil Ambani promoted Reliance Infrastructure plans to raise USD 350mn (Rs 3000 crore) through foreign currency convertible bonds (FCCB) to repay its rupee debt and start new businesses such as electric power generation. Reliance Infrastructure, which is in the construction of roads, metro rail, and generating power, also approved plans to float four companies last week, according to the disclosures made by the company to the stock exchange.

Mint in an interview. Close to 40% of Dana India's production in India is exported for global trucks and off-highway equipment markets.

aircraft manufacturer, has faced a cascading quality crisis since 2018, which escalated this year after a door panel blew off one of the company's planes mid-flight, prompting multiple FAA investigations and a criminal inquiry from the Justice Department. And it's not just Boeing — a New York Times investigation last summer found that understaffing and overscheduling led to an alarming number of unreported near misses on American runways.

automotive industry has entered a fiercely competitive phase in the electric vehicle transition, and it’s producing an intriguing result for US car buyers: the first long-range EVs that are cheaper to buy than the average gas-powered car.

Also Read: Narendra Modi to take oath as PM: From guest list to security arrangements, here’s all you need to knowTDP chairman Chandrababu Naidu and JDU's Nitish Kumar have emerged as kingmakers of National Democratic Alliance (NDA at this critical time, shares of companies based in Bihar and Andhra Pradesh have been soaring. Some companies based in Bihar or with facilities there may gain even more from the political climate.

GST Network (GSTN) has rolled out a special form for manufacturers of pan masala and tobacco products to report inputs and outputs procured with tax authorities to check evasion. This new form GST SRM-II came within a month of GSTN rolling out form GST SRM-I for registering machines of such manufacturers.

Elon Musk has congratulated caretaker Indian Prime Minister Narendra Modi for his party and alliance winning the 2024 Lok Sabha Elections in India,“Congratulations Narendra Modi on your victory in the world’s largest democratic elections!" Musk, the chief of Tesla and SpaceX, and owner of social media site X (formerly known as Twitter) wrote.He added that he looks forward to doing “exciting work" in the country, stating: “Looking forward to my companies doing exciting work in India."Track | Lok Sabha Election Results 2024 LIVE Updates hereAlso Read | Elon Musk puts off India visit to ‘later’, Internet says, ‘No rush! We’ll hold off on chai-samosa plans’Earlier in April this year, Musk had delayed his much anticipated visit to India due to “very heavy Tesla obligations". In an April 20 post on X, the billionaire wrote: “Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year."At the time it was speculated that Musk was likely to announce nearly ₹3 billion worth of investment in the Indian market, primarily earmarked for the establishment of a new Tesla manufacturing facility in the country.Also Read | ‘Biggest loser’: US entrepreneur slams Elon Musk’s choice of China over India for Tesla manufacturing unitThe next week however, Musk was in China on April 28, Reuters reported.

Reserve Bank of India (RBI) Friday maintained policy interest rates and its monetary stance for the eighth straight review meeting amid concerns of a likely spike in food prices, but cracks in Monetary Policy Committee widened with two of the six panel members favouring easier money.

research has indicated increasing incidents of sudden ‘heart attacks’ among those who consume these drinks. This has once again raised questions related to food labeling. This has also caught the notice of the Indian food regulators who had earlier asked companies to desist from labeling drinks as ‘energy drinks’ after it found large-scale irregularities in the ingredients used to manufacture these energy drinks. This has been reported by the New York Post.

labour shortage as thousands of migrant workers who went back to their homeland to cast votes in the just-concluded Lok Sabha elections are not willing to return. The crisis comes at a time when export enquiries from the US are showing early signs of recovery.

Department of Revenue Intelligence (DRI) has clarified that input components attached to display assembly of a mobile phone shall attract a combined import duty of 10%, clearing the ambiguity surrounding duty calculations for over four years now.

India to increase its manufacturing weight and capacity in the coming years will be crucial, and the collaboration with Italy in advanced manufacturing could play a significant role in it, Vincenzo de Luca, Italy's outgoing Ambassador to India, who is credited with turnaround in the partnership, told ET's Dipanjan Roy Chaudhury.