Manufacturing Financial News

GSM Foils IPO Allotment Update: After receiving a stellar response from investors during the bidding period from May 24 to May 28, attention now turns to the allotment procedure for the GSM Foils IPO.The allotment for the GSM Foils IPO is expected to be finalised today. Investors can monitor their allotment status through the registrar, Bigshare Services Pvt.

TPG Asia is reportedly selling its entire stake in wire and cable manufacturer RR Kabel through block deals. According to media reports, TPG Asia will offload about 5% stake or just over 56 lakh shares at around Rs 1,718 apiece. This values the deal at around Rs 1,000 crore.

Asian Development Bank (ADB) committed USD 2.6 billion (about Rs 21,500 crore) in sovereign lending to India in 2023 for various projects. The fund is aimed to strengthen urban development, support industrial corridor development, promote power sector reforms, build India's climate resilience, and enhance connectivity. ADB also extended USD 23.53 million in technical assistance and USD 4.1 million in grants under the sovereign portfolio. In addition, ADB committed over USD 1 billion for private sector projects during the past year, the Manila-based multi-lateral development bank said in a statement.

What are buyers saying on Amazon?Buyers are satisfied with the pain relief it provides and its attractive appearance. However, opinions vary when it comes to the portability and length of the cord.Why choose this product?The Dr Physio Electric Full Body Massager is an excellent choice for those seeking a versatile and portable solution for pain relief and relaxation. Its various massage heads and ergonomic design make it suitable for a wide range of uses.

Cummins India, one of the leading power solution providers, have consistently exhibited a robust upward trajectory. Out of the last 24 months, the stock has only recorded losses in five, and those losses were minor.Also Read: NBCC shares rise 5%, surge over 233% in last one year; what’s behind the rally?During this period, the shares have grown from ₹1,030 apiece to the current market price of ₹3,834 apiece, resulting in massive gains of 272%.

Steel pipes maker Man Industries on Wednesday said it has secured new orders worth Rs 490 crore in the domestic and international markets. With the latest win, the order book stands around Rs 2,600 crore, the company said in a statement. The new orders worth Rs 490 crore are from both domestic and international clients, and are scheduled for delivery in the next six months, it said. Man Industries Managing Director Nikhil Mansukhani said, «The start of the year is proving exceptionally strong. We expect the momentum to continue.»

Pakistan's key ally China has been actively bolstering the defence capabilities of the Pakistani army along the Line of Control (LoC) in Jammu and Kashmir over the past three years which includes the construction of steelhead bunkers and the provision of Unmanned Aerial and Combat Aerial Vehicles, officials said on Wednesday. Chinese assistance also extends to the installation of highly encrypted communication towers and the laying of underground fibre cables along the LoC. Moreover, advanced radar systems of Chinese origin, such as the 'JY' and 'HGR' series, have been deployed to enhance medium and low altitude target detection capabilities, providing crucial intelligence support for army and air defence units, they said. Additionally, the presence of the SH-15, a 155 mm truck-mounted howitzer gun manufactured by a Chinese firm, has been noticed at various locations along the LoC.

₹1 lakh a month. Yes, this is a silly number, but bear with the exercise. It will be useful, pinky promise.

In the 1970s, President Jimmy Carter placed solar panels on the roof of the White House as a symbol of his commitment to developing energy from the sun. In the 1990s, Japan offered homeowners groundbreaking subsidies to install photovoltaic panels. And in the 2000s, Germany developed an innovative program that guaranteed consumers who adopted a solar energy system that they would sell their electricity at a profit. But no country has come close to matching the scale and tenacity of China's support. The proof is in the production: In 2022, Beijing accounted for 85% of all clean-energy manufacturing investment in the world, according to the International Energy Agency.

GSM Foils is likely to finalise the share allotment process today. Investors can check the status of GSM Foils IPO allotment by logging in to the official website of the registrar, which is Bigshare Services in this case. Follow the step-by-step process mentioned below to check the status of allotment.

inflation.As we know, India is an agricultural economy. The country has a unique competitive advantage with the largest arable land area and is the second-largest wheat and rice producer. Most farmers still depend on the monsoon rain to cultivate food.

Investors are increasingly allocating more money to thematic funds, a category with 161 schemes having assets under management of Rs 3.06 lakh crore as of April. WHAT ARE THEMATIC FUNDS? Thematic funds are a category of equity funds which invest at least 80% of total assets in stocks of a particular theme. Some popular themes launched by fund houses in the last few years are public sector undertakings (PSU), infrastructure, MNC, business cycle, and manufacturing funds. For example, a PSU fund has a portfolio of PSU stocks like NTPC, Power Grid, SBI, HPCL, Hindustan Aeronautics, Bharat Electronics etc. A manufacturing fund will own companies in sectors like capital goods, engineering, cement, materials etc and exclude sectors like IT and core banking.

Difacto Robotics and Automation has secured Rs 40 crore (about $4.8 million) from private equity firm Stakeboat Capital in its first financing round. Ajay Gopalswamy, founder and chief executive of the Bengaluru-headquartered company, told ET that the money will be used to expand across sectors such as cars, home appliances and electronics, as investment and volume in manufacturing go up.

New Delhi: India and Vietnam are gaining the most from the China plus one strategy, which is also expected to unlock new growth opportunities for Asian economies, according to Nomura. India's exports will likely surge to $835 billion by 2030 from $431 billion in 2023 with its large domestic market helping attract firms looking for supply chain alternatives to China, Nomura said in a report on Tuesday. «Firms in electronics, apparel & toys, automobile & components, capital goods and semiconductor manufacturing are looking to invest in India. Given India's large domestic consumer market, firms setting up shop in India are attracted also because of the captive domestic market,» Nomura said, predicting a 10% annual growth over the period.

₹95,000 crore.This expected fund flow is projected to create about 2.25 million new job opportunities in the next 4-6 years. The ministry anticipates ₹25,000 crore in investments under the Production Linked Incentive Scheme (PLI) and an additional ₹70,000 crore investment under the PM-MITRA park scheme in the next 4-6 years.“Workers are the key drivers of the manufacturing sector, and their prolonged non-availability would impact production, ultimately creating an imbalance in industrial growth," said Abhash Kumar, assistant professor, economics, Delhi University.Queries sent to spokespersons of ministries of textiles, labour and commerce remained unanswered till press time.

₹1,542 and reach a day's low of ₹1,431.25.BDL stock closed at ₹1,454 on May 28, against previous close at ₹1,544 per share on May 27. Over the past 10 days, the stock has soared by nearly 70 per cent, and in the last six months, it has risen by 150 per cent.Bharat Dynamics recently announced a stock split, dividing one equity share with a face value of ₹10 into two equity shares with a face value of ₹5 each.

Shakti Pumps, the country's leading manufacturer of solar pumps and motors, have been on an upward roll over the last 13 months, producing a stellar performance and significantly enhancing shareholder wealth in a relatively brief timeframe.The company, primarily focused on the production of pumps and motors of various types, has witnessed a consistent uptrend in its stock price since April 2023, starting at ₹404.40 and currently trading at ₹2,492, yielding an impressive return of 515%.This outstanding growth is largely attributed to Shakti Pumps' substantial order wins and strong financial performance, instilling investor confidence and driving the stock price to unprecedented levels. On March 22, the stock reached a new pinnacle, touching an all-time high of ₹2,955 apiece.Also Read: Mauritius-based FII buys stake in this small-cap stock during Q4FY24Zooming out, the stock's long-term performance has been even more impressive as it registered a remarkable gain of 1694% over the last four years.Recognised as a leading domestic manufacturer in the Indian pump industry, Shakti Pumps holds a dominant market position with a 26% share in the domestic solar pump market under the PM KUSUM scheme - an initiative to transform the Indian agriculture sector.The company boasts a diversified customer base comprising government entities, solar original equipment manufacturers (OEMs), and industries, ensuring a low customer concentration mix, with over 1 lakh pumps installed, according to the company's recent exchange filing.

air ticket prices in India spiked 9 per cent in the first quarter of 2024, primarily on account of general increase in travel demand and «much stronger» economic growth, according to Australian Securities Exchange-listed FCM Travel. At the same time, FCM Travel said there was a 20 per cent jump in the premium class bookings in the January-March period compared to the same period last year, driven by sectors such as manufacturing IT as well as conglomerates. «Domestic air capacity has increased more than 3 per cent but due to the demand in travel, we have seen average ticket prices increase by 9 per cent which is attributed to a much stronger economic growth and a general increase in demand for travel,» said Sunny Sodhi, Managing Director of FCM Travel India. Popular domestic routes for business travel include Delhi to Mumbai, Mumbai to Delhi, and Bengaluru to Mumbai, he added.

Japanese automaker Toyota introduced plans to cast a futuristic spin on the traditional internal combustion engine

French startup Ledger has finally begun shipping its latest Ledger Stax devices, nearly 18 months after their initial announcement.

The estate of a 25-year-old dancer who died after eating a mislabeled cookie containing peanuts has filed a wrongful death lawsuit