Manufacturing Financial News

ring blower technology, also known as regenerative blowers. These innovative machines are transforming how industries manage airflow, offering unmatched efficiency and reliability across various applications. Yash Blowers, a pioneering name in industrial equipment manufacturing since 1998, stands at the forefront of this revolution.

defence capabilities over the past decade under the leadership of Prime Minister Narendra Modi's government, according to NITI Aayog member VK Saraswat. Speaking to PTI, Saraswat, a former chief of the Defence Research & Development Organisation (DRDO), highlighted that the country now relies on arms imports only for immediate military needs. Strengthened Indigenous Defence Manufacturing Saraswat noted that currently, 60% of India's arms and ammunition are domestically produced, reflecting a substantial increase in indigenous manufacturing. He mentioned that major corporate entities like the Adani Group, Tata Group, and L&T are now manufacturing radar systems and guns within the country, further bolstering India's self-reliance in defence production.

Aarti Industriesshare price declined more than 5% in intraday trades on Wednesday while Gujarat Fluorochemicals share price declined more than 2%. Share prices of PI Industries and Navin Fluorine International also saw intraday corrections of more than 1% hile global concerns persist, positive is that UBS Research has initiated coverage on these chemical companies with a positive view on the sector. While they remain Bullish on PI Industries Ltd and Navin Fluorine International Limited, though they have sell ratings of Aarti industries and Gujarat Fluorochemicals.

₹193 crore. Also read: ChrysCapital invests $100 million in eyecare chain Centre for Sight The firm has had tremendous success in its pharmaceuticals portfolio, having booked profits on investments in firms such as Torrent Pharma, Curatio Healthcare, GVK Biosciences, Cadila Healthcare and IPCA Laboratories. Its pharma portfolio is overseen by Partner Sanjiv Kaul, a former Ranbaxy Laboratories executive.

manufacturing have boosted the demand for logistics in India, with a staggering 13.5 million square feet in January to March 2024 compared from 11 million square feet in the year-ago period, say a recent Savills India report. The data revealed that leasing of industrial and warehousing spaces in Tier-I cities increased 25% to 10.5 million square feet during January-March 2024 from 8.4 million in the year-ago, while Tier II and III cities witnessed a 20% growth to 3 million square feet from 2.5 million square feet during the given period.

ArcelorMittal Nippon Steel (AM/NS) India, a prominent steel manufacturer with an integrated steel plant at Hazira in Gujarat. “The apprehension is that other mills from FTA countries and China may also get a renewal of their licences for exporting to India," analysts at market intelligence & consulting firm BigMint said, adding that this was a worrisome factor for Indian mills. AM/NS’s Dhar added that with India now available as an option, Vietnamese steelmakers will see the country as a lucrative avenue to dump excess production.

demand in the European Union, West Asia and the US has boosted export order books by at least 10% from six months before, companies said, signalling a possible recovery from last year. Leather goods, footwear, and apparel are driving demand but engineering goods shipments for new projects are facing a challenge due to geopolitical tensions, exporters said. «Overall, compared to the last six months, the order position has improved 15-20% for leather footwear especially from the US and partially Europe,» said Rafeeq Ahmed, chairman, Farida Group, one of India's largest shoe manufacturers and exporters. «The demand for non-leather footwear is also coming up.» India's total goods exports in FY24 fell 3.1% to $437 billion from $451 billion in the previous fiscal. Apparel exporters cited an increase of over 10% in orders starting February, mostly from the UK, US and the EU. «The decline in demand has slowed and there are obvious signs of improvement. Industry has an ambitious target of $20 billion apparel exports in FY25,» said Mithileshwar Thakur, secretary general, Apparel Export Promotion Council.

Canadians shopping for a new vehicle this spring and summer might find a bit of relief from recent years of tight supply and high prices.

Car sales in the local market rose 1.3% to 335,629 units last month. Automakers attributed the tepid pace of growth to tapering off of the post-pandemic pent-up demand that sustained for the last two financial years. A high base due to the strong growth in the last two years weighed on the year-on-year comparison, resulting in the tepid pace of growth in April. Though the growth rate moderated in April, it was the fourth consecutive month in CY24 when sales volume in the local market set a new record, as per data from Society of Indian Automobile Manufacturers (SIAM).

Indian airlines to get more business from global firms such as Airbus and Boeing. And they also want a helping hand from the government through a policy push. «We have to be in line with what our procurement of aircraft is. If India has a 10% share of the order book, it should also have a 10% procurement share — it's a fair ask,» said Aravind Melligeri, chairman of components maker Aequs Aerospace, which is one of the top suppliers to Airbus. IndiGo, Air India and Akasa currently have an order book of close to 1,700 aircraft from Airbus and Boeing, aviation consultancy firm CAPA said. That will increase to as much as 2,000 by March 2025.

European carmaker Stellantis says it will begin selling electric vehicles from its Chinese partner Leapmotor in nine European countries later this year

Boeing is losing more aircraft orders than it is taking in

Federal grants can be a huge boost for small businesses

Energy, railways, data centres may drive Siemens’ growth Earlier, ABB India Ltd had structured the demerger of its power transmission business similarly, mirroring the shareholding of investors in the new entity before selling its stake to Hitachi. "Demerging the company and mirroring the shareholding of minority investors is a much cleaner way to do this transaction," said Shriram Subramanian, the managing director of proxy advisory firm InGovern. Siemens Ltd has earlier faced shareholder ire in India when the company proposed to sell its low-voltage motors and geared motors to group company Siemens Large Drives India Private Limited.

brought a large number of forces to our border and they did it at the time when we were under Covid lockdown." To the Galwan clash, "India responded by counter deployment of forces", he said. Four years since the clash, that left 20 soldiers dead, forces have been deployed ahead of the normal base positions at Galwan Valley. “We responded by counter-deploying our forces.

Car sales in the local market rose 1.3% to 335,629 units last month, and automakers attributed the tepid pace of growth to tapering off of the post-pandemic pent-up demand that sustained for the last two financial years. Though the growth rate moderated in April, it was the fourth consecutive month when sales volume in the local market set a new record, as per data from industry body Society of Indian Automobile Manufacturers (SIAM). Two-wheeler sales posted strong growth, increasing 30.8% from a year earlier to 1,751,393 units. Three-wheeler sales rose 14.5% to 49,116 units.

Alexey Pertsev, the developer behind Tornado Cash, has been convicted of money laundering by a Dutch judge at the s-Hertogenbosch court.

Shares of Apar Industries surged 8% on the BSE on Tuesday to hit a new 52-week high of Rs 8,398.95 after the company posted its revenue at Rs 4,455 crore, up 9% YoY. Its PAT declined 3% YoY to Rs 236 crore. The board of directors also announced a dividend of Rs 51 per share for FY24. “Board of Directors of the company at its meeting held on 14th May, 2024, recommended final dividend for the financial year ended 31st March, 2024, at Rs. 51/- per share (face value Rs.10/- per share) on 4,01,68,315 Equity shares aggregating to Rs 204.86 crore. This will be paid after approval by members at the ensuing Annual General Meeting,” the filing read.

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, crossed the ₹5,000 mark in today's trade to hit a new all-time high of ₹5,045 apiece by gaining 3.2%. The stock's surge today has propelled it to achieve a 93% gain over the past year and 105% increase over the past two years. Starting from its low of ₹2,146 per share in March 2022, the stock is currently trading at a remarkable 134% increase.

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd, says in the manufacturing space, with the capital goods players collected, railways could be the biggest influencer as far as the growth output is concerned for many of the capital goods companies. Though they are adequately priced today, in case of a dip, one should grab the opportunity and buy into the portfolios. Choksey further says that among midcap stocks although Polycab is quoting at a high valuation, business growth ther will double every two-and-a-half, three years from now on. Supreme Industries and Astral are the other two stocks he will definitely buy fresh on every correction.

Finolex Industries surged 9.6 percent in intra-day deals on Tuesday to their record high of ₹297.55 apiece after the firm announced its March quarter (Q4FY24) results. The firm posted about a 2 percent year-on-year (YoY) rise in its standalone profit after tax to ₹161.43 crore in Q4FY24 on the back of higher revenues as against ₹158.35 crore in the corresponding period last year. Meanwhile, its total income from operations during the quarter under review also rose 8.27 percent to ₹1,235.42 crore versus ₹1,141.06 crore in the year-ago period.