Manufacturing Financial News

Hindustan Aeronautics (HAL) revenues are linked to service income to past product sales and recurring. Product business should rise faster as the government is encouraging domestic aircraft manufacturing. GE's tie-up shows the potential of moving up in the OEM status among global defence companies.

Astra Microwave Products zoomed 14.25% in today's early morning trade to record a new lifetime high of ₹914 apiece following the company's announcement of its best performance on both a quarterly and full-year basis in terms of revenue and profitability.For Q4FY24, the company reported a revenue of ₹354 crore as compared to ₹258 crore in Q4FY23, with 76% of the total revenue attributed to India and the remaining 24% to exports. PAT for Q4FY24 stood at ₹54 crore, a 315% YoY increase from ₹13 crore in Q4FY23.

Also Read: FPO lock-in expiry: Vodafone Idea share price to gain focus today as anchor investors' 30-day lock-in period endsThe Hyundai Motor India IPO is likely to be purely an OFS (offer for sale) by the parent and slated to be India’s largest IPO, as the South Korean auto major plans to raise between $2.5 billion to $3 billion via the issue, the report added.The IPO is likely to value the Indian arm at around $20 billion and the OFS figure as part of discussions currently is 15% which hasn’t been frozen yet, it said.However, the valuation and IPO size haven’t been finalized which may vary depending on the company strategy and market conditions, the sources told Moneycontrol.Also Read: Upcoming IPOs: Five SME issues and two new listings scheduled for this week; check full list hereAt present, the Life Insurance Corporation of India (LIC) IPO is the largest IPO in India which raised $2.7 billion in May 2022.In FY24, Hyundai Motor India was India’s second largest carmaker after Maruti Suzuki in terms of passenger sales volumes.

Modi — then chief minister of business-friendly Gujarat state — rode an electoral wave to the prime ministership in New Delhi, many expected that he would be far more supportive of the private sector than previous Indian leaders. As a candidate, Modi was quoted as saying: “I believe government has no business to do business,” and one of the many slogans of that 2014 campaign was “minimum government, maximum governance.” That seemed as close to laissez-faire Thatcherism as one could reasonably expect in India. Nobody who looked closely at Modi’s tenure in Gujarat, however, believed this easy narrative. His proudest achievement there was turning around the state government’s own public-sector companies, particularly in the energy sector. And that’s been his focus in national office as well. In one recent interview, when asked to cite an example of how the markets should react to his expected re-election, he pointed specifically and solely to how he had revived the stock prices of public-sector companies. Modi wasn’t wrong. State firms have done better than India’s benchmark Sensex index for three years straight, and look likely to do so again this year. They have regularly traded at a premium to their private peers.

India's six-week long national election, the world's largest, has entered its final stage with votes scheduled to be counted on June 4, and investors are gearing up for Prime Minister Narendra Modi's widely expected third term in office. However, the margin of victory may be smaller than earlier expected, analysts and informal betting markets are speculating.

electronics manufacturing industry is urging the government for a ₹30,000-₹35,000 crore production-linked incentive (PLI) scheme for components and sub-assemblies, along with capital expenditure backup to support surging exports of mobile phones and other electronics. «The incentive scheme is needed to support growing demand for electronics components to the tune of $75-$80 billion by 2026, and $300 billion by 2032 to support $300 billion worth of electronics products manufacturing by 2026 and $1.2 trillion by 2032,» the India Cellular & Electronics Association (ICEA), which represents top smartphone brands and manufacturing companies, said. The scheme's objective is to boost domestic value addition, especially in mobile phone manufacturing to 35-40%, from 18% now, said ICEA, adding component manufacturing should run parallel to the development of semiconductor ecosystem, currently underway in India. «In confronting its burgeoning semiconductor demand, we must recognise the emergent necessity to pivot from heavy reliance on imports towards fostering an indigenous semiconductor ecosystem, underpinned by localised PCBA operations, focused circuit design, and deepened value addition across product manufacturing,» the industry body said.

Gemini is designed to assist with drafting messages, brainstorming, event planning, or simply engaging in entertaining conversations. Its responses are optimized for brevity. Unlike Google Assistant in the now-defunct Google Allo, Gemini is strictly for one-on-one interactions and cannot be incorporated into group chats.The feature supports Gemini Extensions such as Workspace (@Gmail, etc.), @YouTube, and @GoogleMaps, though the YouTube Music extension is notably absent.

₹4.1 trillion ($49.16 billion) in FY24, marking a 17% increase year-on-year (YoY). Amid this surge, Dixon Technologies Ltd, an Indian contract manufacture, stands as the biggest success story, producing handsets for six of the top seven global brands. In this business since 2015-16, Dixon has scaled its production to 45 million smartphones and 40 million feature phones annually.

A promotional NÜTRL branded tumbler that was recalled in Canada earlier this month caused multiple reports of adverse health effects, an updated notice said Friday.

FSSAI has also advised that all activities related to the commercialisation of human milk and its products should be stopped.In an advisory dated May 24, titled ‘Advisory on Unauthorized commercialization of human milk and its products’, the FSSAI said that it is in “receipt of representations from various registered societies regarding commercialization of human milk and its products".It added that the FSSAI “has not permitted the processing and / or selling of human milk under FSS Act, 2006 and rules/regulations made there under."“Therefore, it is advised that all such activities related to the commercialization of human milk and its products should be immediately stopped.

Mark Mobius, Chairman, Mobius Emerging Opportunities Fund, says that there are lots of steam left in the global market, and we are seeing a lot more interest in equities globally, particularly in the US, and that helps India as well because if people are making a lot of money in the US, they want to diversify globally. They want to put their eggs in more baskets. And one of the most important baskets now is India. Mobius further says that India is a huge market and there are lots of opportunities for global investors.They are going to take advantage of that opportunity. I wanted to glean out a bit because overall we have seen that there has been a shift towards China as well because the valuations there were fairly comfortable. For you, I see that it is still one of the least preferred countries in terms of your geographical portfolio breakdown. What is the thesis there? Are you looking at perhaps increasing the weights in China and even the US for that matter is fairly underweight at just 9%? Mark Mobius: Yes, we are looking at China again now and you have seen that the Hong Kong market has had a pretty good recovery.

Ravi Kota said that after tea and oil, Assam should be globally known for its precious wealth – agarwood.

Gold recorded its worst weekly slump this year in the week ending May 24 on hawkish FOMC minutes and robust US PMIs. Now, markets largely look for just one rate cut this year as traders readjust their rate expectations in the wake of the US data and the Fed's stance. Spot gold closed with a gain of 0.24% at $2334 Friday. The gains came on subdued US yields as the ten-year US yields eased by 0.26% to 4.467% Friday. However, the metal tumbled nearly 3.30% on the week after hitting its fresh record high of $2450 on May 20.

ANI. Following this, Chhattisgarh CM Vishnu Deo Sai ordered a probe and announced to provide financial assistance of ₹5 lakh to the family of the deceased and ₹50,000 to the injured.Chhatisgarh CM Vishnu Deo Sai took to X and wrote, "Orders have been given for a magisterial inquiry into the explosion at the gunpowder factory in Borsi village of Bemetara district and to provide financial assistance of ₹5 lakh to the family of the deceased and ₹50,000 to the injured.

Mumbai: The rise of artificial intelligence in digital transformation will present more opportunities, and looking at the right kind of upskilling avenues will transform AI’s impact on job redundancies, concurred a panel of senior industry executives at Mint Digital Innovation Summit 2024 on Friday. Speaking at the Summit, in a panel titled 'Macro View: What it means to become a Digital and AI leader’, Jayashree Satagopan, corporate president and chief financial officer of Coromandel International, said, “There will be job redundancies that will happen because of AI. But this is nothing new.

Novavax will only be able to offer a COVID-19 vaccine in the United States this autumn if regulators accept the shot it has started manufacturing that targets a variant that was dominant earlier this year, the company said.

USTR) office on Friday announced a further extension of all China Section 301 tariff exclusions on 352 Chinese import and 77 pandemic-related categories through June 14, and said some would be extended through May 31, 2025.

economic activity in FY25 and the growth momentum is expected to continue through the first quarter, the finance ministry said on Friday, flagging, however, risks from volatile global oil and other commodity prices. In its monthly economic report for April, the ministry said the industrial activity is rising and fixed investment is gathering strength on the back of elevated government capital spending that is also crowding in private investment. «Major pillars of India's macro-economic strength, including growth, price stability and fiscal management, are directionally positive and mutually reinforcing,» it said.

security advisor Ajit Doval on Friday said India would have progressed at a much faster pace if its borders had been more secure, defined and not in «adversarial dispossession» while underlining that the country's power has grown immensely in last 10 years. Delivering the Rustamji Memorial Lecture organised by the BSF on its 21st investiture ceremony, he said, «In the foreseeable future, I don't think our borders are going to be as secure as we will require for our fast economic growth. So, the responsibility on border guarding forces has become very, very heavy. They have got to remain on alert 24X7 in perpetuity. They have got to see that our national interests and country are protected.» Borders are important because that is the limit which «defines our sovereignty», he said. «Zameen par jo kabza hai wo apna hai, baaki to sab adalat aur kachehri ka kaam hai, us se fark nahi padta (The land which is in our possession is ours, the rest is the matter of courts and that is immaterial),» Doval said. He said the government has paid «very, very high attention» to border security during the past 10 years, a period in which «our comprehensive national power has grown immensely».

Mint Digital Innovation Summit 2024.“AI and Gen AI hyper-personalize the journey and offer significant value to the customer," he said, elaborating on how this fusion has revolutionized sectors, notably the automotive industry, where connected intelligent vehicles have become a standard, ensuring safer rides.Highlighting a significant shift in lead generation dynamics, he said: “While previously, 50-60% of leads originated from walk-ins at car dealerships, now, only 20% begin with physical visits." Highlighting the impact of AI in product innovation, Kapoor cited the launch of the XUV700 three years ago. "It was almost the first car in its segment to feature layer level two autonomy, enabling the car to anticipate and react to potential hazards." Such advancements, powered by AI and vision technologies, have significantly enhanced both safety and driving experiences, he added.Kapoor elaborated on AI's diverse applications, including financial inclusion initiatives, and underscored Mahindra's dedication to responsible lending practices.

Adani Solar on Friday said it will be expanding its business in Kerala as the southern state has huge potential in the solar energy market. As part of its expansion plans, the company, which is the solar PV manufacturing arm of Adani Group, signed an MoU with Kochi-based Almiya group, a reputed solar distributor, as its official partner in the state. Adani Solar said it will be installing a 225 MW solar power plant in Purapura in one year and has set up a warehouse in Coimbatore for faster delivery of the panels in Kerala and Tamil Nadu. «We are expanding our business in Kerala. In 2023 alone we could establish solar panels for 70 MW in Kerala. Kerala has a huge potential in the solar energy market and Adani Group has very big plans for Kerala,» Cecil Augustine, National Sales Head of Adani Solar said at a press conference.