Manufacturing Financial News

The new tariffs President Biden announced last week aren’t economically significant. Symbolically, they are huge. The U.S.

May when S&P BSE Sensex has slipped 566 points or 0.75%, silver has outsmarted not just the headline index but also its shinier peer gold, and Bitcoin. The white metal has jumped by nearly 11.29% or over Rs 9,580 per kg in this month so far as its industrial appeal returns along with renewed hopes of at least two interest rate cuts, this year. Silver's rally over the first fortnight in the ongoing month accounts for nearly 60% of the gains it has recorded in 2024 so far. It is up by 21% or Rs 16,000 per kg. On Friday, July silver futures on the MCX hit a lifetime high of Rs 90,391.

Boeing shareholders have approved CEO David Calhoun’s $32.8 million compensation

Taiwan is reducing its reliance on the Chinese mainland as it seeks to insulate itself from pressure from Beijing and forge closer economic and trade ties with the United States

Numbers show that the economy during Donald Trump’s presidency has never lived up to his own hype

₹86,000 a kg mark. On the other hand, spot gold prices have risen about 16 per cent this year so far, trading near ₹73,000 per 10 gram mark. Indian stock market benchmark Nifty 50 is just 3.5 per cent up for the year.

Stock Market News: The domestic benchmark indices, the Sensex and the Nifty 50, finished the special live trading session on Saturday, May 18, with gains, extending their current three-day rally driven by fresh foreign capital inflows and encouraging cues from across the globe. The small and mid-cap indexes outpaced the benchmark indices, and all sectoral indices finished in the green. The 30-share BSE Sensex closed at 74,005.94 in the second special trading session, up 88.91 points, or 0.12%.

Also Read: Lok Sabha Elections 2024: Polling in Mumbai today! Know what's closed, what's open On Tuesday, May 21 at 9:15 IST, the stock market will resume regular trading, but, following a fifteen-minute pre-opening session that begins at 9:00 IST, according per the BSE and NSE websites. The fifth phase (Phase 5) of the general elections for 2024 is slated to take place on Monday, May 20, and voting will take place in as many as 49 Lok Sabha seats, which are spread across six states and two Union territories (UTs).

₹2.6 trillion in assets. In fact, he believes periodic corrections are healthy as they eliminate excesses, and create fresh investment opportunities. Moreover, Gupta noted that investors seem to favor equities, aiming to allocate a greater portion of their portfolios to stocks.

Hero MotoCorp and Harley-Davidson Inc are set to expand their partnership to bring more models of the iconic US motorcycle maker to India, riding on the overwhelming response to the X-440, multiple people aware of the negotiations told ET. The two companies are close to finalising an agreement to broaden their existing partnership, which is limited to a single model, the sources said. The pact could also include manufacturing of Harley-Davidson models for export to other markets, they said. An announcement is likely within weeks, they added. Hero MotoCorp and Harley-Davidson did not respond to ET's queries until press time on Sunday.

HTech, the newly formed smartphone company which has a licence to sell Honor-branded handsets in India, is looking to raise about $100 million from investors to diversify into manufacturing, co-create India-specific products and improve customer experience, a top executive said. «We've already ploughed in $10 million into the business and are now looking to raise another $100 million, of which $20 million will be raised in the next six months,» Madhav Sheth, chief executive officer of HTech, told ET. The smartphone player will be looking to dilute equity in the company — in which Sheth is now a majority shareholder — to raise the funds. «When you are doing something for the first time, having an equity partner will ensure the scale of growth is much faster,» the executive said. Since inception in August 2023, HTech has launched two handsets across the mid-premium and budget segments, and is looking to launch six more by the end of 2024, targeting the fast-growing premium segment which contributes 20% in volume terms to the smartphone market, according to Counterpoint Research.

government panel has held that companies knowingly violated Faster Adoption & Manufacturing of Electric Vehicles (FAME) subsidy scheme guidelines that were 'very clear', officials said. The report, submitted by the panel earlier this month, counters findings of an earlier probe by a joint secretary in the Ministry of Heavy Industries (MHI) that said some key terms in the FAME were not clearly defined. The December 2023 report by the joint secretary was not accepted by the Centre, which ordered a fresh probe in February.

business strategies that involve imports of crucial raw materials and machinery from China. Last week, S Jaishankar obliquely questioned the patriotism of firms that source material from China that could be bought or manufactured locally. 'If peace and tranquillity in border areas are disturbed, would you do business with someone who has just barged into your drawing room and is trying to make a mess of your house fencing? It's common sense that if a country has gone back on written agreements and is doing something on our borders, how can we then say that the business world will continue as normal and other things won't,' the foreign minister said at the CII annual business summit in New Delhi last Friday. The timing of this statement is significant for two reasons. One, it comes just 17 days before EC is due to announce the results of the ongoing parliamentary elections that will lead to the formation of the next government. Two, China has just emerged as India's biggest trading partner surpassing the US, according to figures released by Global Trade Research Initiative (GTRI).

₹24,541 crore in January-March, against ₹23,905 crore in the same period of FY23. The company’s consolidated Ebitda, or earnings before interest, tax, depreciation, and amortization, dropped 15% sequentially to ₹6,124 crore. Its operating margin stood at 13.2% during the quarter.

Uttar Pradesh's Azamgarh, Chief Minister Yogi Adityanath hailed the Bharatiya Janata Party and launched a scathing attack against the Opposition, saying that the Congress and the Samajwadi party get tensed whenever we talk about crossing 400 seats in the ongoing Lok Sabha elections. «Only one voice is resonating in the whole country… 'Phir ek baar Modi Sarkar, Ab ki baar 400 Paar'… Whenever we talk about crossing 400 seats, Congress and the Samajwadi Party get tense. They think, how can someone cross the mark of 400 seats?,» said Yogi Aditynath. He further stated that the people will only vote for the BJP over Ram Mandir in Ayodhya. «A voice comes from people who say that we will bring those who brought Lord Ram. This whole election is between 'Ram Bhakt' and 'Ram Drohi'...» he added.

India cannot have individual EV policies for every company, Amitabh Kant told on being asked why Tesla did not come to India after the CEO announced an India visit in April but cancelled it at the last moment. Kant says that India has drafted an EV policy and all the companies have to follow only that policy. India will not change its EV policy according to some specific companies. He said, «So the policy has been announced. You can't have policies for individual companies. The policy for EVs has been announced».

Amit Shah on Saturday highlighted Uttar Pradesh's transformation from a state known for producing country-made pistols to one now manufacturing cannon balls. Addressing an election rally in Lalitpur in favour of BJP's Jhansi candidate Anurag Sharma, who is eyeing a second term, the Union home minister said the state started developing only after Narendra Modi became the Prime Minister and Yogi Adityanath the Chief Minister. «There was a time when country-made pistols were produced in Uttar Pradesh. But PM Modi built a defence corridor in Bundelkhand, and now cannon balls are made here,» Shah said. He added that «if Pakistan makes any mistake», the shells made in Bundelkhand will be used to «destroy» the country.

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India's structural reforms, Amitabh Kant, India’s G20 Sherpa and former Niti Aayog chief, said such reforms have moved the country from the fragile 5 to the top 5, leading to a growth rate of about 8.4% in the last 3 quarters. «Analysts are correct in saying that 30% of the global GDP growth will come from India between 2035-2040,» said Kant while addressing the CII Annual Business Summit 2024. Kant urged India Inc to work with the states to accelerate their development. He added that the government needs to collaborate with the states as we need to focus on building 12-13 champion states growing at 10-11% per annum.

Shares of Balkrishna Industries (BKT) surged 5% on the BSE on Saturday to its fresh 52-week high of Rs 2,798.95 after reporting a net profit of Rs 481 crore for the fourth quarter of financial year 2024. BKT’s net profit shot up 88% YoY while revenue jumped 16% to Rs 2,697 crore backed by a sales volume of 82,085 MT — up 13% compared to the same period last year.

Cement maker Dalmia Bharat Ltd has commenced production at its new mill in Ariyalur manufacturing unit in Tamil Nadu, according to a regulatory filing by the company. With the commencement of commercial production of this 1 MTPA cement unit, the total cement manufacturing capacity of the company stands at 45.6 MTPA, it said. «With an investment of Rs 204 crore, this strategic brownfield expansion is aimed at strengthening its market presence in the South and meeting the growing demand for cement in the region,» the company said in a statement. This is in line with the company's long-term growth strategy aimed at increasing its total installed capacity to 110 -130 MT by 2031, it said.