Manufacturing Financial News

IndiGo makes long-haul foray, orders 30 wide-body aircraft "There is a linear decline in market share of Indian carriers in international markets beyond 5-6 hours. Indian carriers are signifiantly under-represented in wide-body, long-haul market. We should be able to compete with global aviation hubs," Elbers said in a conference call with analysts and journalists.

The Federal Trade Commission is challenging hundreds of pharmaceutical patent listings in an effort to smooth the path to more affordable alternatives to brand-name drugs—including blockbusters such as Ozempic and Victoza. The crackdown is the latest assault against what the agency regards as drugmakers’ patent ploys intended to stall generic competition. At issue is what is called the Orange Book, a document published by the Food and Drug Administration that lists patents relevant to brand-name pharmaceuticals.

UltraTech Cement: As per the brokerage, the expansion in infrastructure projects is fueling demand for cement, boosting UltraTech's revenue. The country’s largest cement manufacturer reported strong earnings for the January-March quarter as its consolidated net profit rose 36 percent to ₹2,258 crore from ₹1,666 crore year-on-year (YoY), beating estimates, led by a decline in fuel costs and double-digit volume growth. The company’s consolidated revenue from operations in Q4FY24 increased 9.4 percent YoY to ₹20,419 crore.

IDV calculators that can help you estimate the depreciation rate for your car. IDV add-ons can be valuable if your priority is to maximise coverage. For instance, zero depreciation insurance may increase the IDV to reflect the car's original purchase price.

BTC Layer2 project BEVM has officially disclosed an investment from Bitmain, the leading manufacturer of cryptocurrency mining servers globally. The precise amount of the investment remains undisclosed.

JNK India's stock had an impressive debut on the market today. Opening at ₹621 per share on the NSE, it marked a significant 49.63% increase from its issue price of ₹415. Similarly, on the BSE, the stock began trading at ₹620 per share.

MUMBAI : Triveni Engineering & Industries Ltd (TEIL) may have to pay up more for acquiring a controlling stake in Sir Shadi Lal Enterprises (SSLE) than its current open offer, or exit its investment, as transaction at the current price remains unlikely, proxy advisory firm InGovern said in a report on Sunday. Triveni Engineering had made an open offer of ₹262.15 per share for acquiring a controlling stake in SSLE in January. However, the SSLE scrip, which closed at ₹156.8 on the BSE on the day the open offer was announced, has since nearly doubled to open at ₹292 on the BSE on Monday.

₹48 apiece on the BSE SME, a premium of 9.09% to the issue price of ₹44 per share. Shivam Chemicals IPO listing was above market estimates as ahead of the listing, Shivam Chemicals IPO GMP today, or grey market premium today was ₹2 per share. This indicated Shivam Chemicals shares would list around ₹46 per share.

₹621 per share, 49.63% higher than the issue price of ₹415. On BSE, JNK India share price today opened at ₹620 apiece, up 49.40% than the issue price. Market experts anticipated JNK India share price to open in the range of ₹500 to ₹520 per share.

₹10,200 apiece on the BSE. UltraTech Cement Q4 results were announced on Monday and the stock had ended 2.7% higher during the session. The country’s largest cement manufacturer reported strong earnings for January-March quarter as its consolidated net profit rose 36% to ₹2,258 crore from ₹1,666 crore year-on-year (YoY), beating estimates, led by a decline in fuel costs and double-digit volume growth.

Medical device maker Philips will pay $1.1 billion to settle personal injury lawsuits in the U.S. over its defective sleep apnea machines

Birlasoft reported a net profit of Rs 180 crore in the March quarter of FY24, up 11.8% quarter on quarter (QoQ). The profit for the company grew by a whopping 60.5% on-year. The growth in profit in Q4 comes on the back of surge in non-core income, slight increase in operating margin and a decline in employee expenses. Operating margin jacked up by 33 bps (3.8% QoQ) to end at 14.7% in the final quarter of FY24.

XUV3X0, with a starting price of ₹7.49 lakh, is the most affordable option in the compact SUV category, and is set to compete with the likes of Maruti Suzuki Brezza and Hyundai Venue. Despite its low price, it boasts a range of features that make it an attractive choice for budget-conscious buyers. In comparison, Maruti Suzuki's Brezza starts at an ex-showroom price of ₹8.34 lakh, while Tata Motors' Nexon begins with an ex-showroom price of ₹8.15 lakh.

Honda Motor Co. Ltd.’s announcement last week that it’s building a $15-billion “vertically integrated” electric-vehicle and battery-cell manufacturing complex in Ontario has opened a new chapter in the country’s industrial strategy for the energy transition.

Indian economy's recent performance has been strong, with promising signs for the future, according to the National Council of Applied Economic Research (NCAER). In its April 2024 Monthly Economic Review (MER), the NCAER highlighted several key indicators showing the economy's resilience. The Purchasing Managers' Index (PMI) for manufacturing, for example, reached a 16-year high, indicating robust growth. Additionally, the Unified Payments Interface (UPI), a leading digital payments system, recorded its highest volume of transactions since its inception in 2016. Goods and Services Tax (GST) collections also saw a significant increase, reaching Rs 1.8 lakh crore in March, the second-highest since its introduction in 2017. Similarly, UPI transactions in March 2024 totaled 13.4 billion, marking a substantial 55.3% year-on-year growth. The NCAER report also highlighted positive global economic forecasts by the International Monetary Fund (IMF) and the World Trade Organization (WTO), which are expected to benefit the Indian economy in the current year.

base metal are unlikely to gain much from current levels, said experts. Shares of Hindalco, Vedanta and National Aluminium Co ended higher on Friday even as the Nifty Metal index, and benchmarks Nifty 50 and Sensex ended in the red. “Those holding the shares of these companies can continue to do so, but I would not suggest buying these shares at the current levels, except for Vedanta, where investors need to maintain a strict stop loss,” said Aditya Welekar, analyst at Axis Securities. “We are at a level where a large part of the rally has already happened,” he said.

Tesla CEO Elon Musk's surprise visit to China has proven to be a strategic move yielding significant results. The Tesla boss has managed to get a key clearance from China that will be a big shot in the arm for the behemoth EV maker's efforts to resurrect declining sales and win trust in China where their own automakers such as BYD have threatened Tesla's dominance. Tesla's cars made in China passed key data security and privacy requirement in China, handing Musk a major win who visited Beijing to seek approval to introduce driver-assistance software. This is according to the China Association of Automobile Manufacturers. Before, some places in China banned Tesla cars because they were worried about how they collected data. Meanwhile, Reuters reported citing sources that Baidu, a prominent Chinese internet search company, has reportedly struck a deal with Tesla, allowing the car manufacturer access to its mapping license for gathering data on public roads in China.

₹12,966 apiece on the BSE with its market capitalisation surpassing ₹4 lakh crore. Maruti Suzuki India, the largest passenger car manufacturer in India, reported a net profit of ₹3,878 crore in Q4FY24, registering a sharp growth of 48% from ₹2,623 crore in the corresponding period last year. The company’s revenue from operations during the quarter rose 19.3% to ₹38,235 crore from ₹32,048 crore, YoY.

Q4 results today: A total of 35 companies will announce their financial results for the fourth quarter of FY24 today, April 29. Also Read: Q4 results: 211 companies to declare earnings this week UltraTech Cement, Trent, UCO Bank, KPIT Technologies, Poonawalla Fincorp, Tata Chemicals, Gillette India, PNB Housing Finance, Birlasoft, KFinTechnologies, Can Fin Homes, Vesuvius India, Shoppers Stop, Spandana Sphoorty Financial, eMudhra, Tips Industries, Jana Small Finance Bank, and Fedbank Financial Services will announce their Q4 results today. Rossari Biotech, LG Balakrishnan and Brothers, Shipping Corporation of India Land And Assets, Indostar Capital Finance, Satin Creditcare Network, Veefin Solutions, Aurum Proptech, Ador Fontech, Quest Capital Markets, Lagnam Spintex, CNI Research, Sumeru Industries, and Jumbo Bag are also scheduled to release their Q4 FY24 earnings during the day.

Edited excerpts: Indian investors predominantly stick to a market capitalization-based investment approach; a bulk of it focussed on large, mid, or small-cap stocks. However, the concept of investing in various styles or themes hasn't gained much traction yet. Themes have demonstrated long-term growth potential in India.

Gurpratap Boparai CEO of Mahindra's automotive businesses in Europe, Mahindra Trucks & Buses (MTB) and construction equipment has resigned from the company, according to a company's internal circular undersigned by Rajesh Jejurikar, executive director and CEO auto and farm sectors. He joined Mahindra in 2022 taking charge of its European operation — overseeing Peugeot Motors and Automobili Pininfarina. Boparai has «decided to pursue opportunities outside the Mahindra Group,» it stated. His last working day will be May 31, 2024.