Manufacturing Financial News

China announced plans on Wednesday to better measure the carbon content of its products — a key step in reaching its own climate goals and meeting tougher carbon standards overseas.

New Delhi: Torrent Pharmaceuticals Ltd has entered into a non-exclusive patent licensing agreement with Takeda Pharmaceuticals to commercialize Vonoprazan in India, which is used to treat and prevent the return of ulcers (sores in the lining of the stomach or intestine) caused by certain types of bacteria, the company said in a statement on Wednesday.Vonoprozan is a novel potassium-competitive acid blocker (P-CAB), used for the treatment of acid-related disorder gastroesophageal reflux disease (GERD). Torrent will market Vonoprazan under its own trademark, Kabvie, it stated."We are delighted to commercialize this novel treatment for Indian patients.

BENGALURU , MUMBAI : In a rare case of a business family scion exiting the board of another family-owned company, Nisaba Godrej has resigned as an independent director from the board of VIP Industries Ltd. The development comes over differences in succession planning with Dilip Piramal, the founder-chair of the country’s second-largest luggage maker, which had a market capitalization of $830 million on 5 June. “As discussed, due to my differing view on leadership accountability and succession planning, I will be resigning from the Board effective June 3rd, 2024," Godrej, who is the executive chairperson of Godrej Consumer Products Ltd (GCPL), said in her resignation letter to Piramal, according to a disclosure made by the company to the exchanges.

₹661 crore due to a slowdown in key verticals. Net revenue for the full year declined 5% to $6.27 billion, while net profit plummeted 52.2% to $284 million, down from $598 million a year ago. To be fair, the last 12 months have been tough for the industry as a whole.

Uno Minda on Wednesday said it has tied up with China's Suzhou lnovance Automotive Co for production of electric vehicle components. The company has entered into a technical licence agreement with Suzhou for manufacture and sale of select high voltage category electric vehicle products for both passenger and commercial vehicles, Uno Minda said in a statement.

Brakes India on Wednesday announced its plans to develop and manufacture advanced braking products for the domestic light vehicle market in a 51:49 joint venture partnership with Japanese AISIN Group company ADVICS at an investment of Rs 500 crore over the next three years. The joint venture entity will focus on developing these products in a phased manner of which Electronic Stability Control (ESC) will be among the initial products to be rolled out, Brakes India said in a statement.

Lok Sabha Election results 2024: What does lack of BJP majority mean for market, economy? Foreign brokerages weigh inThe wild swing in the market was mirrored by the volatility index, India VIX, which plunged 15 per cent on Monday, surged 28 per cent on Tuesday, and then fell 29 per cent on Wednesday.While government policies can shape economic outlook and market dynamics for the long term, historical trends show election outcomes are short-term triggers for the market. Experts believe there may be some shift on the policy front after the new government is formed, but they do not see a material impact on India's macroeconomic landscape.Also Read: A weaker mandate for NDA may trigger a shift in policies, but the macro backdrop may not change materially: Emkay GlobalWhile no major impact on the macro parameters is expected, the market is expected to closely observe government policies and the Union Budget in the near term.Rahul Singh, CIO - Equities at Tata Asset Management, believes the election result may lead to a more balanced market."Risk-reward in large caps and underperforming sectors like banking and consumer appears more favourable.

Read here: Dabur India, Godrej Consumer Products & others hit 52 week high today ; Do you own any?In the near term, the brokerage expects a reset in the market’s hitherto cavalier investment stance toward ‘narrative’ stocks."We have struggled with the implied growth and profitability assumptions embedded in the market cap. of several ‘narrative’ stocks (capital goods, electric utilities and PSUs).

election-induced volatility to Modi's ultimate victory... a lot has changed in the past two trading sessions. On Monday this week, Indian benchmark Nifty 50 surged topped the 23,000 level, while the BSE Sensex crossed the 76,000 level.

As Prime Minister Narendra Modi embarks on his third term, let’s call it ‘Modi 3.0,’ expectations run high of transformative policies aimed at solidifying India’s position as an economic powerhouse. Modi’s letter to the nation after his 45-hour meditation in Kanyakumari suggests Modi 3.0 plans to hit the ground running.

Stock market today: After a solid bounceback in the Indian stock market today, shares of Davangere Sugar Company witnessed a sharp rise during Wednesday's deals. Davangere Sugar Company share price today opened flat at ₹9 apiece and touched an intraday high of ₹9.90 per share mark on NSE, recording an intraday rise of 10 percent against Tuesday's close price of ₹9 per share.

valuations like industrials, PSU, defence and banking may turn attractive again from a risk-reward perspective, domestic brokerage firm Motilal Oswal said today while giving out a list of 18 large and midcap stock ideas following election results. From the large cap category, the brokerage firm has picked stocks like ICICI Bank, ITC, HCL Tech, Coal India, L&T, M&M, Ultratech, CIFC and Hindalco.

Hiring in tier-2 cities has shown consistent growth compared to metropolitan areas, with cities such as Kochi, Coimbatore and Jaipur emerging as key hiring locations, according to Insights Tracker of talent platform foundit.

Also Read: NFO Alert: Mahindra Manulife Mutual Fund launches Mahindra Manulife Manufacturing Fund; all you need to knowThis is an open-ended equity scheme investing in the financial services sector. Speaking on the launch, Samir Arora, Founder, Helios Capital, said, “Helios Financial Services Fund serves as an avenue to benefit from the robust growth potential of the Indian financial services sector and is suitable for investors looking for long-term wealth creation or investment in equities of companies engaged in financial services".The investment objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity-related securities of companies engaged in financial services.

Mahindra Manulife Manufacturing Fund. This is a thematic fund focused on the long-term opportunities that will emerge as manufacturing continues to gain impetus from policy actions and become a significant driver of the economic transformation agenda.

Hindalco Industries: Novelis Inc., a subsidiary of Hindalco Industries, has delayed its IPO due to market conditions. The company, which had planned to raise $810 million to $945 million, will reassess the offering’s timing.

Axos Financial drops after Hindenburg Research shorts stock U.S. stocks ended a shade higher on Tuesday following softer-than-expected labor market data that reaffirmed expectations of an interest rate cut by the Federal Reserve.

Also read: Lok Sabha election results: Basant Maheshwari warns PSU stock holders of downtrend, says to 'analyse shares'Nifty 50 plummeted 8.5 percent to reach its intraday low of 21,281.45, opening at 23,179.50, on Tuesday. The Sensex began trading at 76,285.78, and it fell 8.2 percent to reach 70,234.43.Sensex concluded the day at 72,079.05, down 4,390 points, or 5.74 percent, while Nifty 50 finished the day at 21,884.50, down 1,379 points, or 5.93 percent.“Indian equities plunged after the vote counting trends suggested a lower seat count for the ruling NDA government.

growth rate for the coming decades and increasing percapita income.

Britannia Industries Ltd, Hero Motocorp Ltd, and Tata Consumer Products Ltd not just stayed afloat but settled about 2-6% higher.This is in contrast to Shriram Finance Ltd, Power Grid, Larsen & Toubro, BPCL, Adani Enterprises and Adani Ports Special Economic Zone stocks that crashed 10-21%. What spooked investors was a negative surprise in India’s general elections results, with the ruling NDA set to return albeit with a less than expected majority.

U.S. stocks are mixed after a report suggested the job market is cooling, which could make the cuts to interest rates that Wall Street desires so much more likely