Manufacturing Financial News

market breadth, volatility is back. As the valuations are still in high zone and even a small correction can lead to sharp cut in stock prices it would be better for any investor in a corrective phase that fresh investment should be made in large cap stocks as there is a possibility that they would see less damage in correction which might continue for some more sessions. In the near term some more profit booking cannot be ruled out in sectors on a rational basis, but over a period of time it is likely that underlying sentiment will remain bullish. Though the decider of the trend would be the election results. When markets are trading with strong bullish bias, some of the stocks tend to move off from the list of algorithm based stock buying lists. This includes even the best of long term wealth creators. The reason, the potential upside in them is less than the algo defined levels. As soon as the market corrects, some of them are back on the list. As they are back this week, stocks like Bajaj finance and Kotak mahindra bank, Hdfc banks are back on the list. Even some of the new age which after the recent run up had gone off the list are back on it.

After years of persistent shortages, Canadians can now access Wegovy, an on-label weight loss medication, made by the same manufacturers of Ozempic.

Mint's request for a comment on the story. With geopolitical and policy uncertainties influencing partnership strategies, Indian companies are opting for technology transfers from China instead of establishing joint ventures.

Lupin: The pharma company reported a 52% YoY increase in consolidated net profit, amounting to ₹359.43 crore, for Q4 FY24. Its revenue rose by 13% from the previous year to ₹4,895.11 crore. EBITDA for the quarter was ₹1,026.1 crore, a 66% increase from ₹615 crore in the same period last year.

Tata Electronics Ltd has started exporting limited quantities of semiconductor chips packaged at a pilot line at its Bengaluru-based research and development centre, people familiar with the matter told ET. These packaged chips are being shipped to some of Tata Electronics' partners in Japan, the US and Europe, the people said. This comes as the Tata group company lays the groundwork for its new chip packaging unit at Morigaon in Assam and a $10 billion chip foundry at Dholera in Gujarat.

electric cycle maker EMotorad, in which cricketer Mahendra Singh Dhoni invested an undisclosed sum last month, is set to complete the phase-1 build of its factory at Ravet, Pune. The 2,40,000-sq. ft. facility, scheduled to be inaugurated on August 15, will have the capacity to make 500,000 million e-cycles, founder and CEO Kunal Gupta told ET. It will also employ 300 more people, from the current 50, by then, he added.

infrastructure-led growth agenda, a report said on Monday. As per the data released by the Indian Construction Equipment Manufacturers' Association (ICEMA), the construction equipment (CE) industry had sold 1,07,779 units in the previous fiscal year. «With total equipment sales crossing 1,35,650 units as against 1,07,779 lakh units in FY23, the Indian Construction Equipment industry has recorded a 26 per cent increase in overall sales volume for the financial year 2023-24, surpassing all projections,» it said. The statement further said the government's infra-led growth agenda and pre-election impetus on projects in the pipeline triggered positive growth in all five major construction equipment segments.

Supreme Court on Monday refused to entertain a petition by traders’ associations, challenging the constitutionality of Section 43B(H) of the Income Tax Act that requires businesses to settle their dues with micro, small and medium enterprises (MSMEs) within 45 days to claim tax benefits. A bench led by Chief Justice DY Chandrachud instead asked the petitioners – Federation of All India Vyapar Mandal, Federation of Madras Merchants and Manufacturers Association, and Confederation of West Bengal Trade Associations – to move the high court for any relief. The new rule has come into force from April 1.

ABB, Schneider Electric and generator manufacturers Caterpillar and Cummins attribute rising electrical equipment sales to data centers’ expansion. Schneider last fall received a five-year, $3 billion contract from Dallas-based Compass Datacenters to provide prefabricated rooms with power management equipment that can be dropped into data centers under construction. Engine maker Cummins recently said it expects sales from its power-generation business to increase by 10% to 15% this year, up from its previously forecast 5% to 10% growth.

Balrampur Chini Mills, Dwarikesh Sugar Industries, Dhampur Sugar Mills , Shree Renuka Sugar share prices have not seen much gains during last one year. Bajaj Hindusthan Sugar prices though have risen significantly, the same have been led by turnaround in its operations. The concerns in the recent past have weighed on diversion of Sugar to Ethanol production.

European Commission President Ursula von der Leyen said on Monday that the EU would not shrink back from taking tough measures to protect its economy and security, amid tense trade relations with China. «China that plays fair is good for all of us,» she said following trilateral talks in Paris with Chinese President Xi Jinping and French President Emmanuel Macron. «Europe will not waver from making tough decisions needed to protect its economy and its security,» she said. «We will defend our companies, we will defend our economies.»

Diamonds (LGDs) exports are expected to witness a revival in FY25, with exports expected to grow by 7-9% to reach a value of~US$1500-1530 million, according to CareEdge Advisory. LGD exports have been declining in recent time, and have seen around 16.5% decline y-o-y for FY24. While the sales volume of LGDs have been growing, the declining prices have impacted the exports. Nevertheless, the depreciating rupee is likely to act as a cushion for the industry, believes CareEdge Advisory. Going forward the demand for LGD exports are expected to revive in FY25, as demand for naturally mined diamonds may remain sluggish. This is attributed to its price point, environmental sustainability, and intensified competition from India against other leading LGD-producing nations.

price band at Rs 131-138 per equity share for its initial public offering which will hit the capital market on Thursday to raise around Rs 41 crore. The public issue of Energy Mission Machineries (India) will open on May 9 and conclude on May 13, and the shares will be listed on NSE SME's platform, Emerge, the company said in a statement. The public offer is entirely a fresh issue of 29.82 lakh Equity shares of Rs 10 face value and no Offer for Sale component, according to the red herring prospectus (RHP).

China's third aircraft carrier, Fujian, embarked on its maiden trials last week, marking a significant moment in China's naval expansion efforts aimed at challenging the US's global presence. Named after the Fujian province, the carrier is the largest and most advanced Chinese aircraft carrier ever built. Testing Reliability and Stability The Fujian carrier set sail from Shanghai's Jiangnan Shipyard, with the trials primarily focused on testing the reliability and stability of its propulsion and electrical systems, as reported by state news agency Xinhua.

₹8,370.65, up 1.08% on the BSE. Questions also linger regarding the execution of a deal announced by Linde last year with Indian Oil to supply hydrogen, nitrogen, and compressed dry air to its Panipat facility. Although the deal was announced by parent Linde plc, there has been no confirmation from Linde India on its involvement in the project.

Investors can expect significant growth in the capex, manufacturing, and infrastructure development in this financial year, says Sneha Poddar, AVP, Motilal Oswal in an email interview with MintGenie.

Delhi Police has uncovered a massive racket involving the production and sale of adulterated spices in northeast Delhi's Karawal Nagar area. Two factories were raided, leading to the seizure of a staggering 15 tonnes of spurious spices. Three individuals, including the owners of these processing units, have been arrested in connection with the case. «Acting on this information, a team was formed, resulting in raids on May 1. During the operation, Singh was found operating one of the processing units, where he was producing adulterated turmeric using non-edible and banned substances such as spoiled leaves, rice, millets, wood dust, chilli heads, acids, and oils.» said the DCP. Despite their attempts to flee, both Singh and Sarfaraj were apprehended and interrogated. Singh confessed to be the owner of the manufacturing unit, while Malik admitted to supplying these adulterated spices, the officer said.

space sector will help attract foreign players as well as startups and will boost demand for high-tech jobs, experts say. The government has eased FDI norms in the sector by allowing 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment. The provisions were notified last month.

Dividend paying stock: Shares of John Cockerill India Ltd will be in focus when the stock market opens on May 6 (Monday). The Board of Directors of the company has declared a final dividend of ₹7.00 per equity share for its eligible shareholders. The record date by the company to ascertain the eligibility of shareholders for final dividend has been fixed on May 6.

After 3 years, Auto Expo holds promise for emerging technologies Bharat Mobility Global Expo, which was anchored by the Ministry of Commerce's Engineering Export Promotion Council of India (EEPC) and automotive industry bodies SIAM and ACMA among others in its first edition in February this year, will expand to three venues next year from 17 January to 22 January, in a bid to position the show as a bigger global mobility event in India. Roadshows to attract international buyers for the auto components show are set to begin soon, while the construction equipment expo is expected to see a footfall of builders, developers, and urban planners among others, the people cited above told Mint.

Samsung 653 L, 3 Star side by side refrigerator The Samsung 653 L 3 Star Frost Free Double Door Refrigerator is a spacious and energy-efficient appliance suitable for large families. Its 5-in-1 convertible modes, digital inverter compressor, and smart features like Wi-Fi connectivity make it a convenient and reliable choice for modern homes. LG 655 L Frost-Free Inverter Side-By-Side Refrigerator The LG Side-by-Side Refrigerator offers a spacious 655-liter capacity with advanced features like an inverter compressor for energy efficiency, tempered glass shelves, and multi-air flow for even cooling.