Manufacturing Financial News

BJP era, Union Home Minister Amit Shah declared on Wednesday. Speaking in Alappuzha, Kerala, on the last day of campaigning before the state goes to LS polls on Friday, he said the Communist party was finished in India, just as it had been ended all over the world, and so was the Congress. “This Lok Sabha election is the one to make India the world’s third-largest economy. Giving Narendra Modi and the BJP a third time will make India number one in the world in the fields of agriculture, manufacturing and technology,” he said. With a dismal performance in the 2019 general elections where the party was unable to win even a single seat in the state, the BJP is sparing no effort to turn people’s opinions in its favour in Kerala this year, an uphill task in a state that has historically swung ideologically left.

Moderna is expected to announce a partnership Wednesday with artificial-intelligence heavyweight OpenAI, a deal that aims to automate nearly every business process at the biotechnology company and boost the ChatGPT maker’s reach into the enterprise. As part of the transaction, some 3,000 Moderna employees will have access to ChatGPT Enterprise, built on OpenAI’s most advanced language model, GPT-4, by the end of this week. Further integration of AI into more of its processes could help Moderna outpace its plan to roll out 15 new products within the next five years, the Cambridge, Mass., company said.

ILO) and the Institute of Human Development (IHD), India’s youth continue to face high unemployment rates, with nearly 83% of the jobless population belonging to this demographic. The report underscores a concerning trend where the proportion of educated young people with at least secondary education among the total unemployed youth has nearly doubled from 35.2% in 2000 to 65.7% in 2022.

pharmaceuticals has decided to expand the committee to oversee efforts to reform drug and medical device pricing by bringing in more industry participants, according to an order issued by it. As per the order seen by Mint, it has invited at least seven industry associations to the committee that has been tasked with striking a balance between pricing and availability of essential medicines, while offering incentives to the industry to foster growth and exports.

Some of the world’s biggest energy trading companies are returning to metals, years after getting burnt in the notoriously difficult markets.

Anand Athreya, CEO & MD and Arnob Roy, COO & ED, Tejas Networks, in conversation with ET NOW. Though BSNL has given the biggest order, a significant amount of the order book is for other customers and for Tejas’ wireline products. The order book is mainly the business and tenders that they have won and which they have to execute. A good part of the business is run rate business which are purchase orders that come in a quarter and which are executed throughout the year in the next quarter.

HSBC Flash India Composite PMI output index rose to a near 14-year high of 62.2 in April from 61.8 in March. The composite index is a weighted average of manufacturing and services business activity index. A reading above 50 indicates expansion.

pharmaceuticals exports increased 9.67 per cent year-on-year to USD 27.9 billion in 2023-24, even as the total exports dipped by 3 per cent in the last fiscal. According to the commerce ministry data, pharma exports in March grew by 12.73 per cent to USD 2.8 billion. In 2022-23, the exports stood at USD 25.4 billion. The top five export markets, for the sector during the last fiscal, are the US, the UK, the Netherlands, the United Kingdom, South Africa and Brazil.

Mazagon Dock Shipbuilders shares extended gains from a 4% rally in the previous session which was coupled with heavy volumes. Brokerage firm Anand Rathi has named Mazagon Dock Shipbuilders as its ‘Pick of the month’ and expected the stock to give a decent near 11% upside. Technical charts suggest that Mazagon Dock Shipbuilders stock has seen a breakout after a consolidation.

Also Read: Axis Bank, Hindustan Unilever, among 23 companies to report Q4 results today The recent uptrend in Indian equities has been attributed to favorable global cues and a decline in crude oil prices, with the oil market seemingly unaffected by the potential impact of additional sanctions on Iranian oil. Moreover, concerns have eased as both Iran and Israel have indicated a reluctance to escalate tensions further, following limited exchanges of strikes earlier this month. In March, small-cap stocks suffered as concerns over high valuations prompted regulatory scrutiny, leading mutual fund houses to conduct stress tests every 15 days.

The latest Boeing uproar belies the potted story line. Instead of bringing shame by abandoning the glories of American manufacturing, in its 787 factory Boeing was inventing new manufacturing to build airliners from carbon fibers rather than traditional aluminum. A whistleblowing engineer testifies that in fitting together these planes, Boeing departed from its estimated tolerances and force limits as it struggled to gain experience in assembling carbon-fiber airliners.

Moroccan officials are aiming to turn the country into an aviation hub, luring investors aiming to spread out their supply chains to more nations with available and affordable workers

Employees of the company tasked with rapidly personalizing jerseys for each first-round NFL draft pick as they are announced don’t need to travel very far for this year’s player selections in Detroit

Two executives of the bitcoin mining rig maker Canaan intend to jointly purchase at least $2 million worth of company shares, claiming the company is “deeply undervalued,” despite revenue decline.

Spirit AeroSystems said Boeing would give it advance payments of $425 million and help it address issues like higher levels of inventory and lower cashflows after the U.S. aviation regulator capped the planemaker's 737 MAX production. The agreement announced by Spirit on Tuesday comes amid talks between the two for Boeing to buy the fuselage supplier, a former subsidiary, and as the planemaker tries to get control of a sprawling crisis sparked by a mid-air panel blowout in January on a new Alaska Airlines 737 MAX 9.

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says: “ I would play the whole infra, defence story through corporate banks on the one side and through a diversified pick of EPC contractors and all of that and generally building materials, cement, steel and all of that should form part of your portfolio. Having a good diversified portfolio within the infra, capital goods and banks is important. Second, having a slightly longer term, do not expect massive wealth creation to happen in the next few months or years, give it a bit more space and time.” Markets have made a roaring comeback. Now, on the global front, news has deteriorated. On the liquidity front, FIIs have turned net sellers. But if one looks at the market strength purely based on price, for the smallcap, midcap and the largecap, the strength is quite amazing. What is causing this constructive price action in the market? Sunil Subramaniam: I think it is the SIP book flow.

Elon Musk makes multiple promises to investors, analysts for Tesla: Electric vehicle (EV) manufacturer Tesla saw its first-quarter net income plummet by 55 percent, in results released on April 23, AP reported. The stock has however soared 11 percent in after-trading hours after CEO Elon Musk announced plans to accelerate the production of new, more affordable vehicles, the report said. Notably, this boost comes amid a challenging year for Tesla, with its stock declining by over 40 percent since the beginning of the year.

Tata Consumer Products: On Tuesday, April 23, the company reported a 22.5% decrease in net profit, at ₹267.7 crore in Q4FY24, down from ₹345.6 crore recorded in Q4FY23. However, the company's operational revenue for the quarter increased by 8.5%, to ₹3,927 crore in A4FY24 from ₹3,619 crore in Q4FY23. From an operational standpoint, the company's EBITDA for the March quarter was ₹629.6 crore, marking a 23% growth from the ₹511.7 crore reported in the same period last year.

₹18,100 crore. However, after initial allocation of the 50 GWh capacity, one of the selected applicants in the first round, Hyundai Global withdrew as the South Korean automobile major Hyundai Motor Company and its Indian arm Hyundai Motor India Ltd (HMIL) clarified that they had nothing to do with the company.

Starbucks heads to the Supreme Court on Tuesday in a bid to limit a government labor board that has been eager to support union drives, a case that comes as other top companies are mounting aggressive defenses against the agency. In the Biden-era, the National Labor Relations Board has pursued the boldest enforcement agenda in recent memory to bolster worker protections. The board, which referees disputes between employers and workers, has expanded pathways for forming a union and made it easier for employees to challenge workplace practices.

HDFC Asset Management Co Ltd, the investment manager to HDFC Mutual Fund (HDFC MF), has announced the launch of HDFC Manufacturing Fund. This open-ended equity scheme aims to unlock the potential of India’s manufacturing sector by investing predominantly in equity and equity-related securities of companies engaged in manufacturing activities.