Manufacturing Financial News

As party manifestos go, the Bharatiya Janata Party’s (BJP) manifesto for the upcoming general elections is fairly standard, with promises about its plans if re-elected. However, what stands out in this year's BJP manifesto is its significant emphasis on the civil aviation sector, which is mentioned 11 times in the 76-page document.

Raghuram Rajan said, adding that it is important for the country to enhance its human capital and skillsets, PTI reported. Speaking at a conference titled "Making India an Advanced Economy by 2047: What Will it Take" at George Washington University in the United States, Rajan expressed concern over India's current growth rate. "I think we are in the midst of it (demographic dividend), but the problem is we are not reaping the benefits," he stated.

Australia will boost defence spending by A$50.3 billion ($32 billion) over the next decade and reshuffle its weapons programs to emphasise missiles, drones and warships as it looks to the possibility of a Pacific conflict between China and the U.S. The bulk of the new spending, part of a A$330 billion decade-long budget, will only kick in after five years, and ultimately take defence spending to 2.4% of GDP by 2034 from just over 2% today. Announced by Defence Minister Richard Marles on Wednesday, the new funding reflects new priorities, such as long-range missiles, that Australia believes are necessary in a world where a potential conflict between China and the United States could upend the region.

₹64.3 crore while in 2021 it was over ₹1,000 crore. Recovery of such fines has only been 0.4% over the past five years. The current framework for fine imposition and recovery must be made more enforcement-oriented.

Apple CEO Tim Cook said Tuesday that he wants to further increase investment in Vietnam a day after the company announced it would spending on suppliers in the Southeast Asian manufacturing hub

Apple contributed 65%, or about $10 billion, double the $5 billion of phone exports from India in FY23, when the US major became the first smartphone brand to achieve this feat. India’s fledgling mobile electronics manufacturing ecosystem has helped create more than 1.2 million jobs, while producing goods worth $50 billion, in FY24, show the data.

Competition Commission of India (CCI) said on Tuesday it has cleared the acquisition of additional stake in Thyssenkrupp Industries India by Protos Engineering Company and Paharpur Cooling Towers. Thyssenkrupp Industries India mainly provides engineering, procurement and construction services to execute turnkey projects in various industries and after-sales services, the antitrust regulator said in a statement. Protos acts as an agent for companies that manufacture equipment, machinery and raw materials in sectors, including steel, cement and sugar. It is also the sole selling agent of Thyssenkrupp Industries India.

Elon Musk's satellite venture Starlink is under process, and the government is examining the security aspects, according to sources. The FDI and financial aspects are in sync with the requirements and conditions, sources said, adding that the ownership 'declaration' has also been received from Starlink.

Rekha Jhunjhunwala, who inherited the portfolio of Rakesh Jhunjhunwala, has made some significant changes to the investments during the quarter ended March. Jhunjhunwala, who owned about 1.8% stake in recently listed Tata Communications towards the end of December quarter, pared the stake in the company by 0.3%, bringing the overall holding to 1.6% at the end of March quarter.

Hyderabad, a Lamborghini Gallardo, estimated to be worth nearly Rs 1 crore, was deliberately set on fire. «The sports car was reduced to ashes,» said the report. «The incident comes as a fallout from a business dispute between two car resellers,» added the police officials. According to the police officials, «a complaint was filed by Neeraj,» a car reseller who had bought the luxury car from its original owner. The accused, identified as Ahmed, «decided to meet Neeraj on Saturday to resolve their dispute,» but the argument escalated, resulting in the former «setting the car ablaze.» «By the time fire department vehicles arrived at the scene,» the car was engulfed in flames and severely damaged. «A video of the burning Lamborghini has also been doing the rounds on the internet,» confirmed the witnesses. The burnt remains of the Lamborghini Gallardo have become a grim reminder of the lengths to which disputes can escalate. «Now speaking of the car that got burnt,» clarified the expert, «it was the Gallardo Spyder.» «Although this is a substantially older gen model and could only be found in the resale markets,» he added, «it used to house a powerful 5-litre NA V10 engine that made 513 hp and 510 Nm of peak torque.»

Rahul Singh, CIO-Equities, Tata Mutual Fund, says: “So far, we are not seeing any green shoots of recovery in the FMCG space. My own sense is that if the urban economy continues to outpace rural economy, because there are a lot of interlinkages in the way the economies work, sooner or later the rural economy will recover but not necessarily due to agricultural income or monsoons, but purely because of the amount of capex and construction activity which we are undergoing and which is likely to continue post elections.” The main point which is in the mind of the market right now and that there will be either delayed cuts in the US or even Chetan Ahya of Morgan Stanley this morning has put out a note saying no rate cuts this year in India. So, the whole narrative around some rate cut in the second half of this year, seems to have been challenged and as a result, yields have rallied. What is your own hypothesis? Rahul Singh: There are two factors at work in the market. One obviously is the rate cut and whether that gets delayed and by how much and whether we have a rate cut this year or not – those discussions have started again and this is not the first time that there is a flip-flop in terms of the consensus view on the rate cuts, so I am not entirely surprised.

The Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas

Also Read: Nifty Metal index bounces back 3.4% from day's low amid strong spike in metal prices China has set an ambitious economic growth target of around 5% for 2024, a goal that analysts view as requiring additional stimulus measures to achieve. In addition to the GDP data, China's release of March indicators—property investment, retail sales, and industrial output—underscored the persistent weakness in domestic demand.

In the unlisted market, the company's shares are trading with a GMP of Rs 20. This compares with an offer price of Rs 80 apiece.

₹300 crore, and an offer-for-sale (OFS) of up to 8,421,052 equity shares of a face value of ₹2 each by the promoter selling shareholders, Goutam Rampelli (up to 1,122,807), JNK Global Co. Ltd (up to 2,432,749), Mascot Capital and Marketing Private Limited (up to 4,397,661), and individual selling shareholder Milind Joshi (up to 467,835).

Polycab India, a leading manufacturer of electrical wires and cables, has seen its shares grow gradually year after year, rewarding its long-term investors handsomely. The company is a market leader in the cables & wires sector, with a 26% share in the organised market and an 18% share in the overall market. It focuses on in-house manufacturing with a high degree of backward integration and has 25 manufacturing facilities.

₹10.9 in March 2021 to currently trade at ₹430.25. Meanwhile, it rallied almost 849 percent in the last 1 year, rising from ₹45.35. In 2024 year-to-date (YTD), the stock has jumped 56 percent, giving positive returns in 3 of the 4 months so far.

₹648 apiece. Brokerage firm Motilal Oswal believes the stock can rise further by as much as 34 per cent. The brokerage firm has reiterated its buy call on the stock with a target price of ₹1,100, based on 45 times FY26E earnings per share (EPS).

₹90, which is 10% lower than the issue price of ₹100. DCG Cables and Wires IPO opened for subscription on Monday, April 8, and closed on Wednesday, April 10.

The Economic Times reported on April 16. If a deal is struck, it will mark a gradual shift in Apple's operations from China to India, the report further added. Titan shares closed down 0.50 per cent at ₹3,601.55 on April 15, on the Bombay Stock Exchange (BSE).

Murugappa Group and Tata group’s Titan Company to assemble — and, possibly, manufacture — sub-components for iPhone camera modules, people aware of the matter told ET. If talks fructify, the Indian supplier ecosystem will deepen for the Cupertino company as it shifts more of its operations away from China.