Manufacturing Financial News

US Federal Reserve are fueling a record-breaking rally in precious metals. The precious metal could gain by another 10-15% from current levels, said experts. Silver contracts, which have risen by more than a tenth in a week, touched a lifetime high of ₹82,109 per kilogram on the MCX on Monday. Both gold and silver trying to breach their multi-year highs indicates that a bull market is in force for precious metals, and historically, silver has outperformed gold in such situations, said Sahil Kapoor, market strategist at DSP Mutual Fund. «Conditions are favorable. A breakout is happening after many years, and if you have already allocated to silver, stay put, and if not, you should allocate and wait,» he said. While the precious metal typically moves in tandem with gold prices, it also takes cues from base metal prices because of its usage across several industries including electronics, batteries and semiconductors. Base metal prices have seen a recent rally following encouraging manufacturing data from China. «Middle East tensions and China's heavy buying drove silver's demand, pushing prices up. Meanwhile Fed's Powell last week hinted at cautious rate cuts, influencing silver's long-term bullish outlook,» said Naveen Mathur, director for commodities and currencies at Anand Rathi Shares and Stock Brokers. The demand for silver is expected to grow 1% globally to 1.2 billion ounces in 2024, while supply is seen rising 3% to 1.02 billion ounces, the Silver Institute said in a report earlier this year.

Samsung next week to expand its chip output in Taylor, Texas, as it seeks to ramp up chipmaking in the U.S., two people familiar with the matter said. The subsidy, which will be unveiled by Commerce Department Secretary Gina Raimondo, will go towards construction of four facilities in Taylor, including one $17 billion chipmaking plant that Samsung announced in 2021, another factory, an advanced packaging facility and a research and development center, one of the sources said.

Recently, two international organizations published their assessment of India’s labour market and employment situation. Two weeks ago, the International Labour Organization (ILO), in collaboration with the Institute for Human Development (IHD), released the India Employment Report 2024, focusing on youth employment. Shortly thereafter, the World Bank released its South Asia Development Update (SADU), with a focus on jobs.

New Mexico's mandate for auto dealers to provide an increasing number of electric vehicles for sale across the state will remain in place pending a legal challenge

Treasury Secretary Janet Yellen says the Biden administration will push China to change an industrial policy that poses a threat to U.S. jobs

Japanese Prime Minister Fumio Kishida visited a new semiconductor plant for which his government has pledged more than $7 billion of support to secure a steady supply of chips

U.S. Treasury Secretary Janet Yellen says upcoming U.S.-China talks will tackle a top Biden administration complaint that Beijing’s economic model and trade practices put American companies and workers at an unfair competitive disadvantage

Boeing CEO David Calhoun is getting compensation valued at $33 million for last year, nearly all of it in stock awards

China’s burgeoning production of electric cars and other green technologies has become a flashpoint in a new U.S.-China trade fight

Discount carrier Spirit Airlines said it is deferring all aircraft on order from Airbus that were scheduled to be delivered in the second quarter of 2025 through the end of 2026

Procter & Gamble is recalling more than 8 million bags of Tide, Gain, Ace and Ariel laundry detergent packets sold in the U.S. and Canada

The northwestern Indiana city of Gary sued several big-name gun manufacturers and retailers in 1999, saying they could do more to prevent illegal firearm sales

₹401 trillion milestone. Meanwhile, the National Stock Exchange of India (NSE) declared that it will remain shut on May 20 on account of voting for the Lok Sabha Election 2024 in Mumbai. In another news, the Congress moved the Election Commission of India with six complaints, two of which were directed against Prime Minister Narendra Modi.

NEW DELHI : India and Brazil are putting together a list of two dozen defence products for possible co-development and production as part of efforts towards deepening security ties, according to persons aware of the matter. This follows a flurry of high-level defence delegations from Brazil visiting India recently.

Apple is reaffirming its commitment to India. Its contract manufacturers and suppliers, including Foxconn, Tata and Salcomp, are planning to build more than 78,000 homes for their employees, ET has reported. India's Central and state governments will partly fund the project. With this huge housing project, Apple is indicating it is deepening its roots in India. Housing for workers has been a key part of the Apple ecosystem in China. Also Read: Apple Awas Yojana: Apple ecosystem pivots to housing factory workers after job boom

Rajratan Global Wire have reasons to celebrate, as the shares of this company have surged sharply in recent years. The shares, which were valued at ₹156.70 apiece three years ago, are now trading at ₹638, resulting in a massive gain of 308%. They delivered even more stellar performance, as they skyrocketed 1780% since May 2020.

₹100 apiece. The IPO lot size for DCG Cables & Wires Ltd IPO is 1,200 shares.

₹110 crore in Biodeal Pharmaceuticals Ltd, a contract development and manufacturing organization. The company in a filing disclosed that the deal is being facilitated through convertible instruments from its performing credit fund and will be directed towards improving infrastructure and capacities, upgrading technology, and nutraceuticals manufacturing facility. Emkay Global was the exclusive financial advisor to Biodeal for this deal.

Also Read: Sun TV Network, Prima Plastics, among shares to trade ex-dividend today Electrosteel Castings is a market leader in India, with a 20% market share in the domestic DI pipe industry (in volume terms). It was the first company to introduce DI pipe products to the domestic market in 1994. The company stands as a major beneficiary of governmental initiatives such as the Jal Jeevan Mission and AMRUT 2.0, emphasising water projects.

Jay Kailash Namkeen listed on the BSE SME platform with a premium of 16.43% over the issue price. The stock debuted at Rs 85, compared with an offer price of Rs 73. Ahead of the listing, the company's shares traded with a premium of Rs 15 in the unlisted market.

₹90 apiece on NSE SME, a premium of 11.11% to the issue price of ₹81 per share. Yash Optics & Lens share listing price was below market estimates as the grey market premium, or Yash Optics IPO GMP today, ahead of the listing was more than 17% to the issue price. The initial public offering of Yash Optics & Lens opened on March 27 and concluded on April 3.