Manufacturing Financial News

Asian manufacturers seem to be on firmer ground, with the latest survey data signaling stronger output and orders, but building cost pressures could stoke concerns about inflation. Purchasing managers index data from S&P Global showed improvements in industrial powerhouses like South Korea and China midway through the second quarter. “Asia’s manufacturing recovery looks to be firming by the month," said Maybank economist Erica Tay.

Poll of Polls: 10 exit polls predict 350+ seats for BJP-led NDA, three 400+; INDIA bloc to get less than 200 seatsThe Indian stock market experienced high volatility last month due to the Lok Sabha election. While most experts expected the NDA to retain power at the Centre, the market was nervous amid speculations that the ruling alliance might not secure a strong majority. With exit polls indicating a solid majority win for the NDA, the stock market appears to have shrugged off election-related jitters.Also Read: Exit Poll 2024: How to trade keeping Lok Sabha Election results in mind?Experts are optimistic about the Indian stock market's medium—and long-term prospects.

Also Read: Stock market today: Nifty 50, Sensex hit all-time highs. Exit polls 2024 to GDP data - 4 reasons why market is soaringIf the present government retains power, Sen expects macroeconomic and financial stability is likely to be prioritized, which he believes is vital for continued macro growth and corporate earnings.

will win at least 350 Lok Sabha seats in the just-concluded national election, making for a clear majority in Parliament that would allow for policy and fiscal continuity. When the Election Commission of India announces the voting results on 4 June, the markets will be tracking the margin of victory for the NDA, and not wondering about a possible loss, said Nirmal Jain, founder of financial conglomerate IIFL Group. The government that takes charge once the results are officially announced has its task cut out, Jain said.

Read the full story here.)Sensex Today Live : Indian shares are set to open higher on Monday with analysts expecting gains in infrastructure, capital goods and manufacturing stocks, after exit polls over the weekend projected a third term for Prime Minister Narendra Modi's government.The Gift Nifty was trading at 23,353 points as of 7:05 a.m. IST, indicating that the Nifty 50 will open higher than its Friday's close of 22,530.70.The Nifty 50 and S&P BSE Sensex dropped about 2% each last week ahead of the election result, which is due on June 4.Exit polls released on Saturday projected the Bharatiya Janata Party-led National Democratic Alliance will likely get a two-thirds majority in the 543-member lower house.Indian stock futures jumped early on Monday and the rupee rose as exit polls pointed to a third term and sizable mandate for Prime Minister Narendra Modi, whom investors hope will spend on infrastructure and manufacturing to keep economic growth going.NIFTY 50 index futures were up about 2.7% in early trade and, at 23,350, indicated the index could touch new peaks when the cash market opens.

Narendra Modi plans a raft of business-friendly measures if he wins a third term this week, including pushing through regulations making it easier to hire and fire workers, according to two government officials familiar with the matter.

China's manufacturing activity in May grew at the fastest pace in about two years with strong production and new orders, a private sector survey showed on Monday, indicating the sector remains robust amid supportive industrial policies.

Indian shares are set to open higher on Monday with analysts expecting gains in infrastructure, capital goods and manufacturing stocks, after exit polls over the weekend projected a third term for Prime Minister Narendra Modi's government. The Gift Nifty was trading at 23,353 points as of 7:05 a.m. IST, indicating that the Nifty 50 will open higher than its Friday's close of 22,530.70.

Gold prices steadied on Monday as investors looked forward to more U.S. economic data for clues on when the Federal Reserve might start its monetary policy easing this year. FUNDAMENTALS

Mint in an interview. The commentary comes as the construction materials platform raised $50 million from Mars Unicorn Fund last week. The company is valued at $2.5 billion, as per its official website.

NEW DELHI : Car dispatches to dealers rose moderately in May, as India's automobile market enters a period of seasonally slow sales. During the month, wholesale shipments grew a modest 4.4% to cross 350,000 from a year earlier, data released by manufacturers showed. As intense heat waves in May kept potential buyers at home and the nation got busy with the general election, retail sales fell from April, but were flat from a year earlier.

Real Madrid can crow about. The club’s 15th Champions League is the first they have won at Wembley.

Zeda Holdings, which uses 3D printing to manufacture orthopaedic implants, is planning to raise up to $200 million in capital for its India foray, its chief executive officer, Shri Shetty, told ET.

ALSO READ: RBI Policy: Repo rate cut expectations pushed back to December quarterOn June 3 (Monday), data on the S&P flash US manufacturing PMI for May and ISM manufacturing for May will be released.TBA Auto sales data for May is also due on the same day.On June 4 (Tuesday), factory orders data for April will be declared.June 5 (Wednesday) will see the release of reports on ADP employment for May, ISM services for May, US productivity (final revision) for first quarter, US trade deficit for April, and S&P flash US services PMI for MayOn June 7 (Friday), a report on consumer credit for May and data on US employmenand unemployment for May will be released.Following companies are due to report quarterly earnings in the week ahead— GitLab, Science Applications, CrowdStrike, PVH, Hewlett Packard Enterprise, Bath & Body Works, Lululemon, Dollar Tree, Brown-Forman, Campbell Soup, and Five Below, Samsara, DocuSign, J.M. Smucker, and NIO.US stocks rallied on Friday after a report showed the Federal Reserve’s preferred inflation was flat.ALSO READ: OPEC to extend cuts till 2H; Crude oil seen at $70-$90 in 2024: Kaynat ChainwalaThe Dow Jones Industrial Average rose 574.84 points, or 1.51%, to 38,686.32, the S&P 500 gained 42.03 points, or 0.80%, to 5,277.51 and the Nasdaq Composite lost 2.06 points, or 0.01%, to 16,735.02.The yield on the 10-year Treasury fell to 4.50% from 4.55%.

India's economic growth of 8.2% in 2023-24 is notable on three counts. First, it surpasses the 8% hurdle rate seldom breached in India's post-Independence history. Second, it reinforces a strengthening of India's economic momentum after the Covid shock.

JPMorgan CEO Jamie Dimon was responding to a question posed at the Economic Club of New York in late April on the resilience of the US economy. But he could as well have been talking of India. National Statistics Office (NSO) data released last Friday show the Indian economy is, well, booming. At 8.2%, GDP growth for 2023-24 is streets ahead of the most optimistic estimates, and far, far ahead of RBI's estimate of 7% till as late as December 2023. Sure, there could be distortions due to the way the GDP deflator is computed, as this is then used to arrive at the real (from nominal) GDP numbers, and also because of changes in the 'net taxes' figure — GDP is GVA (gross value added) plus taxes less subsidies. But whichever way you dice the numbers — nominal or real GDP growth, GDP or GVA — there's no getting away from the fact that the Indian economy is shining. The news has, of course, been greeted with 'ra-ras' from the ruling BJP and nitpicking by the Opposition, even as it has left the aam janta cold. This is for two reasons.

NEW DELHI:Food Safety and Standards Authority of India (FSSAI), in consultation with the Union Ayush ministry, has drafted licensing and logistics norms for businesses that can manufacture and sell food products under the Ayurveda Aahara category, and will shortly release the guidelines, two topofficials said.Ayurveda Aahara (diet) food products don't contain drugs or medicinal products, but have ingredients that are believed to promote health. Ayurveda Aahara was notified in 2022 and includes five categories and around 800 ayurvedic recipes, and the norms governing their manufacture will be launched post elections, one of the officials said.The regulations define “Ayurveda Aahara" as food prepared in accordance with the recipes or ingredients or processes as per methods described in the authoritative books of Ayurveda, and listed under ‘Schedule A’ of the FSSAI regulations.“Ayurveda is now a global matter and there’s huge value to it. We must look at it from the commerce perspective.

₹5,000-crore package is being worked out through a new VGF scheme to incentivise construction of inland vessels, with plans to later extend the support for entities manufacturing sea-bound vessels including cruise ships.One of the two persons said that under SBFA, the incentives in the form of 20% capital support may be reinstated for all kinds of shipbuilding, with the period of incentives being extended by four years from present sunset period of 2026 to align it with Maritime India Vision 2030. Under the Maritime India Vision, India aims to develop world-class mega ports, transhipment hubs and infrastructure modernization of ports.The SBFA scheme may be considered for further extension by another six years till 2036, in line with new targets set under the recently formulated The Amrit Kaal Vision 2047, the person quoted above said.Also Read: What an ‘Indian Club’ means for the country's shipping industryIn addition, a new VGF scheme may be launched to encourage the construction of inland vessels and ships with plan to extend this support in addition to any other incentive programmes for manufacturing commercial blue water ships.Under SBFA, financial assistance is provided to domestic shipyards for shipbuilding contracts signed between 1 April 2016 and 31 March 2026 with the rate of financial assistance starting at 20% in 2016 and diminishing to 11% in 2026.

election verdict on June 4, exit polls already have a resounding majority for the Modi government, bringing much-needed cheer to market participants. NDA is forecasted to win 370 seats, according to the average of all exit polls and the markets are likely to react positively to pollsters' predictions.

heatwave, incidents of AC blasts are becoming more prevalent. Here are some reasons behind these occurrences and precautions to ensure safety and prevent such incidents: Ensure the thermostat is set to an appropriate temperature.

exit polls indicate a clear majority for the BJP-led NDA coalition for the 18th Lok Sabha, analysts from various brokerage houses have identified a range of stocks that stand to benefit from the formation of a Modi 3.0 government. After the 7th phase of elections on Saturday, almost all exit poll surveys showed that the BJP is likely to win the Lok Sabha election on June 4. The average of all major exit polls indicates that the BJP-led NDA will secure 374 seats in this election, while the INDIA alliance may get 137 seats and others may get 30 seats.