Manufacturing Financial News

ChrysCapital has invested about Rs 600 crore ($70 million) in Ahmedabad-based La Renon Healthcare, valuing it at $800 million. ChrysCap has acquired about 8% stake from the promoter family in a secondary transaction. Incorporated in 2007 by Pankaj Singh, La Renon is engaged in the manufacturing and marketing of branded generic formulations. ChrysCapital is close to acquiring a minority stake in La Renon Healthcare via secondary sale of shares, at a valuation of Rs 6,500 crore ($800 million), ET first reported on February 12. At present, promoter Pankaj Singh & family own about 80% stake in the formulations manufacturer while Peak XV Partners (formerly Sequoia Capital) owns 14% and domestic VC fund A91 Partners owns 6% stake in La Renon. In FY24, La Renon posted a revenue of Rs 1,400 crore and an Ebitda of Rs 300 crore, said sources. O3 Capital advised La Renon on the transaction.

₹71,500-72,500. The rising gold prices is leading to dwindling of demand in the country and prompting Indians to opt for recycling of their old jewelleries amid festive season. Also read: Silver prices likely to cross ₹1 lakh per kg in medium to long term: Motilal Oswal “We have seen higher investment demand for gold in India through various gold investment instruments.

The Indian real estate sector will grow over three times to reach an estimated USD 1.5 trillion by 2034, constituting 10.5% of the total economic output by then, according to a joint report by Knight Frank India and CII.

Indian Staffing Federation (ISF) said on Monday. ISF, the apex industry body representing manpower outsourcing industry, released the Flexi Staffing Industry Employment growth report for Q3 FY2024 (October-December 2023). The staffing industry witnessed a 3.6 per cent growth in December quarter FY24 in comparison to July-September period, recording a robust demand for flexi (contract) workforce, ISF said in a statement.

₹120 per share, with a face value of ₹10. 1,200 shares make up the IPO lot size for Grill Splendour Services Ltd. According to the prospectus, the company is a chain of upscale bakeries and patisserie with 17 retail locations, a centralised manufacturing plant, and a number of corporate clients.

Dr Ravi Singh, SVP - Retail Research, Religare Broking, sees Sensex breaching the 1 lakh mark in the next 5 years. In an interview, the expert believes that now is the time to book some profits considering the volatility we will be seeing in the coming time due to corporate results and Lok Sabha elections. He advised investors to allocate 40 percent of their portfolio to large-cap stocks for stability and 30 percent each to small and midcaps for alpha generation over a longer time horizon.

passenger vehicle sales grew 10 per cent YoY, but its electric vehicle (EV) sales nearly doubled to account for 2 per cent of the overall PV sales. This EV surge in EV sales can be can be attributed to factors like, government incentive schemes like PLIs, infrastructure development like more EV charging points, increasing urban consumer interest, and government push to meet green target. Now with reports of Tesla's entry in the Indian market, and its CEO Elon Musk India visit this month, experts say Indian EV market will see immense growth in next few years.

Mahindra Group will foray into the hybrid renewable energy segment with an investment of Rs 1,200 in a solar and wind project, the company said in a stock exchange filing on Monday. Mahindra Susten, its renewable energy platform, will develop the project along with Ontario Teachers' Pension Plan Board as a strategic partner. As a part of this project, the group will install ˜101 MW wind capacity and ˜52 MW solar capacity. The project will be one of the largest co-located solar + wind hybrid projects in Maharashtra to deliver clean energy to Commercial and Industrial (C&I) customers, it said.

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.

Investing.com-- Cable manufacturer Encore Wire Corporation (NASDAQ:WIRE) said on Monday it had entered a definitive agreement with bigger Italian peer Prysmian SpA (BIT:PRY) to be acquired for about $4.6 billion.

Tata Consultancy Services: TCS kicked off the earnings season on a high, concluding FY24 with a March quarter that surpassed expectations. For Q4FY24, it posted a net revenue of $7.36 billion, marking a sequential increase of 1.1%, which aligns with analysts' growth predictions of up to 1.5%. The net profit for the same quarter stood at $1.5 billion, reflecting a sequential rise of 6.4%.

Read here: Week Ahead: Q4 Results, macro data, Israel-Iran conflict, global cues among key market triggers this week On Friday, the Indian stock market indices ended a percent lower each dragged by selling across the board amid weak global cues. The Sensex plunged 793.25 points, or 1.06%, to close at 74,244.90, while the Nifty 50 settled 234.40 points, or 1.03%, lower at 22,519.40. “Indian equities could see temporary short-term headwinds from the US Fed easing being pushed into CY25 and hardening commodity prices due to adverse geopolitics.

₹6,200 crore from ₹4,645 crore in 2023-24 (budget estimate). Similarly, the allocation for the Modified Programme for Development of Semiconductors and display manufacturing ecosystem was more than doubled to ₹6,903 crore for 2024-25 (BE) from ₹3,000 crore in 2023-24 (BE).

Earlier this month India — that already has punitive duty barriers of close to 50% for importing solar modules and cells from overseas — came up with its own set of non-tariff barriers to predominantly block Beijing. This coincided with US treasury secretary Janet Yellen’s heightened political pitch around overcapacity in Chinese steel, solar, EV, lithium-ion batteries and other clean tech products, as a precursor to a crackdown on imports. The updated docket or roster of vendors who can supply solar panels to our large scale power developers is an 82 page document, with 83 vendors and predictably has no Chinese candidates. As per this Approved List of Models and Manufacturers (ALMM) order for solar photovoltaic modules, domestic module manufacturers will also have to register their sub-contractors and vendors with the renewable energy ministry.

₹40,000 per candidate over and above their regular fees if they manage to make senior candidates join in less than 30 days. The urgency to get experienced employees in programs like Flutter, Windchill, Workday, and SAP, among others, is a sign that markets are opening up for the IT services firm.

₹375 crore from ₹170 core in the interim budget presented on 1 February. The key objective behind the plan is to make tooth implants a cost-effective process, the second person cited above said, adding the research for developing medical textiles will require a significant budget allocation. The technology will be shared with private players for manufacturing to make it economically viable, the person added.

Read more about other Home Improvement items on the Top Trending Products page. Check out the best hindware faucets below. 1. Hindware Italian Collection Health Faucet for Bathroom Hindware Italian Collection F160181RGD Health Faucet for Bathroom | Made of Brass | Comes with 1.25-Meter Long Stainless Steel Hose Pipe & Wall Hook | Bathroom Jet Spray | Color — Rose Gold₹4,950Buy Now Add something new to your bathroom's aesthetic with the unique Hindware Rose Gold Bathroom Faucet. Designed for wall mounting, this faucet exudes modern elegance with its polished finish and sleek lever handle. Crafted from a combination of stainless steel and brass, it ensures durability and longevity. The rose gold color adds a touch of sophistication to any bathroom decor. Easy to install with inclu

Additionally, setting up a USB-connected gamepad is straightforward—all you need to do is plug it into your computer or gaming console, and you're ready to start playing. This simplicity adds to the overall appeal of USB gamepads, making them a popular choice among gamers seeking hassle-free and reliable gaming experiences.

Glenmark Pharmaceuticals is recalling 6,528 bottles of a medication used to treat high blood pressure in the American market due to failed dissolution specifications, the US health regulator said. The US-based arm of the Mumbai-headquartered drug firm is recalling the affected lot of Diltiazem Hydrochloride extended-release capsules, the US Food and Drug Administration said in its latest Enforcement Report. The affected lot has been produced in India and is being recalled by New Jersey-based Glenmark Pharmaceuticals Inc for «failed dissolution specifications», the USFDA said. «Out of Specification (OOS) was reported in a test of dissolution at the 12th month time point in long-term stability study,» it noted.

Godrej Locks has said it aims to increase market share from 30 per cent to 50 per cent in three years, riding on a new range of affordable products and reduced prices of existing ones. Shyam Motwani, business head for Godrej Locks and architectural and systems, said the company's newly-launched products are over 50 per cent affordable than the existing locks, while efforts have been undertaken to make the existing locks cheaper by 7-8 per cent. The company will rely on new affordable range and price cuts in the existing locks to achieve the objective of having the dominant market share in around three years, Motwani told PTI. The target is to grab 50 per cent market in the segment from the current 30 per cent, Motwani said, adding that the company sees a massive opportunity for its products in the tier-2,3, 4 cities and towns.

Stock Market News: The banking and information technology (IT) stocks prompted the domestic benchmark indices, the Sensex and Nifty 50, to decline 1% each on Friday in reaction to high US inflation statistics earlier this week that dimmed prospects of an early interest rate cut by the Federal Reserve. With both finishing in red, the Pharma Index and the Healthcare Index exhibited most severe hardship among all the sectoral indices.