Manufacturing Financial News

Sensex gained 363.20 points, or 0.49%, to close at 74,014.55, while the Nifty 50 settled 135.10 points, or 0.61%, higher at 22,462.00. “The market is expected to continue its positive momentum but the journey could be volatile on the back of elections and Q4 earnings this month. Now all eyes will be on RBI monetary policy due this Friday where status quo is expected but commentary would be keenly watched," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Mint, Geoffrey Nagpal, Ebco’s managing director, confirmed the fundraising plans. “Ebco is currently running a process to invite large private equity funds to help it grow its business," said Nagpal, who is the second generation of the promoter family. “The promoters will remain significant partners along with the PE fund to drive growth in the business, through investments in manufacturing, branding and product development." Spokespersons of TPG, Kedaara Capital and KKR declined to comment.

India is drawing up near, medium and longterm goals in line with its target to become a developed economy by 2047, with a focus on electric mobility, digitisation of payments infrastructure and high-speed expressways, officials said. All central ministries will soon firm up plans indicating five-year budgetary requirements for better financial management, they said. Extended producer responsibilities for goods such as cars, recycling centres for electronic waste like cell phones, comprehensive soil surveys, measures to raise farm output, holistic skilling of the country’s youth, speedier production from auctioned mines and extensive assessment of Indian geology, and increased manufacturing output with lower emission intensity are some of the other key areas in focus.

multi-billion-dollar settlement over contamination with potentially harmful compounds used in firefighting foam and several consumer products, the company said. St. Paul, Minnesota-based 3M announced Monday that last year’s lawsuit settlement received final approval from the U.S.

NEW DELHI : Rural India emerged as the driving force behind the record-breaking sales of passenger vehicles in FY24, which crossed the 4-million-mark for the first time in a year, despite the demand for hatchbacks that have typically dominated car purchases in the countryside continuing to slide. In FY24, a total 4.23 million passenger vehicles were sold in India, rising 8.7% from 3.89 million units the previous year, which was also a record. One in every two of these vehicles sold last fiscal year was a sports utility vehicle, or an SUV, a segment that saw the sharpest growth of 28% in FY24, while sales of hatchbacks, or small, mini or compact cars, accounted for 28% of the industry’s total sales, declining 12% from the year before.

Obesity is one of the biggest issues for health care professionals, but for those companies at the forefront of tackling it, the returns could be phenomenal.

European and US equity futures rose Monday as US inflation figures did little to alter views that the Federal Reserve will cut interest rates this year.

₹5000 with a range of budget-friendly printers. They are designed to meet the needs of home users without breaking the bank. It includes compact and space-saving inkjet printers to reliable and cost-effective laser printers.

NEW DELHI : The credit quality outlook for Indian firms is positive for fiscal year 2025 (FY25), rating agency Crisil on Monday. This optimism stems from strong domestic demand, low corporate debt levels, and the ongoing benefits of infrastructure development. In the recently concluded fiscal year, Crisil Ratings recorded 409 upgrades for domestic companies and 228 downgrades.

Hindustan Aeronautics Ltd is the industry partner of the textiles ministry for this project. "With this, India will have its own technology and manufacturing units. The project will be completed in the next three years," the second official said.

NEW DELHI : Rating agency Icra Ltd credited the Indian government’s spending on infrastructure, apart from promising macroeconomic conditions and relatively stable commodity prices, for the country’s robust economic growth amid a sea of challenges. Icra joined the bandwagon of rating agencies predicting robust growth for India’s economy, which it said faced multiple challenges including inflation, rise in borrowing costs, sub-par monsoons, sluggish exports, the Red Sea crisis, and the effects of the Russia-Ukraine and Israel-Palestine conflicts.

Stock market today: Dixon Technologies shares have been in uptrend for nearly one year. In this time, Dixon Technologies share price has risen from around ₹2,893 to ₹7,626.90 apiece level on NSE, logging around 160 percent rally in this time. So, this electronic manufacturing services company share is one of the multibagger stocks in India.

₹21,083 crore in financial year 2023-24 with a 32.5% growth in FY24 compared to previous financial year, said Defence Minister Rajnath Singh on Monday. Underlining the strong growth of private sector and DPSUs over the years, Defence Minister Rajnath Singh said “defence ministry has taken several initiatives to spur India’s defence manufacturing and exports." “Delighted to inform everyone that the Indian Defence Exports have scaled to unprecedented heights and crossed ₹21000 crore mark for the first time in the history of Independent India," wrote Rajnath Singh in a post on X.

Some of the biggest U.S. companies in artificial intelligence have asked their Taiwanese manufacturing partners to step up production of AI-related hardware in Mexico, seeking to diminish reliance on China. Taiwan-based Foxconn, the world’s largest contract electronics manufacturer, and other Taiwanese companies are heeding the call and investing more in Mexico, according to industry executives and analysts.

Hi-Tech Pipes, a leading player in Indian piping, were ecstatic with its stock performance in recent years. The stock began its upward rally in June 2022 and has maintained the same momentum to date, yielding a fabulous return of 250%, climbing from ₹40 apiece to the current level of ₹139.75 apiece.

Crisil Ratings on Monday said the credit quality outlook for Indian corporates remains positive for the April-September period of the 2024-25 fiscal year with upgrades continuing to outpace downgrades. In the last fiscal year, Crisil gave 409 rating upgrades and 228 downgrades. Some export-linked sectors, such as textile and seafood, saw a higher downgrade rate due to subdued global demand or high-cost inventory that impacted profitability. «India Inc's credit quality outlook is positive for the first half of fiscal 2025 with upgrades expected to outnumber downgrades. Multiplier effect of government capex will continue to drive infrastructure and linked sectors. Healthy balance sheets will continue to support the credit quality outlook, with capex funding seen prudent,» Crisil Rating said. It said the outstanding bank credit is expected to cross Rs 200 lakh crore by March 2025, from Rs 172 lakh crore a year ago, even though there would be moderation in the rate of credit growth.

production-linked incentive (PLI) scheme for smartphones in August 2021, as per an Economic Times report. The majority of those employed are first-time time job seekers aged between 19 and 24 years, it added citing estimates from government officials and experts. Companies that get PLI benefits are required to report employment data to the government.

Nifty Next 50 index has emerged as a star performer in financial year 2024. This index is specifically designed to track the performance of 50 promising young companies, which could be the next contenders to enter the Nifty 50 index. In February 2024, the index surged 6.68%, leaving all other major indexes in the dust.

Aurobindo Pharma on Monday said it has commissioned four state-of-the-art manufacturing facilities for Penicillin-G, 6-Amino Penicillanic Acid (6-APA), Injectable products and Granulation, through its wholly owned subsidiaries. Penicillin-G (Pen-G) facility, located in a SEZ at Kakinada in Andhra Pradesh, has a production capacity of 15,000 tonne per annum and also 1.8 lakh tonne of gulcose, while 6-Amino Penicillanic Acid plant has a capacity to produce 3,600 tonne annually, the drug maker said in a press release. The Rs 2,400 crore Pen-G plant is expected to start trial production in April and commercial production in a couple of months and the ramping up of the production will happen during the second quarter of the current fiscal, a senior official of the city-based drug maker had earlier said. The plant was approved under the Production Linked Incentive (PLI) Scheme for Promotion of Domestic Manufacturing of Critical Key Starting Materials (KSMs)/Drug Intermediates and Active Pharmaceutical Ingredients (APIs) in the country.

China's manufacturing activity expanded at the fastest pace in 13 months in March, with business confidence hitting an 11-month high, driven by growing new orders from customers at home and abroad, a private survey showed on Monday. The Caixin/S&P Global manufacturing PMI rose to 51.1 in March from 50.9 the previous month, above analysts' forecasts of 51.0 and marking an expansion for the fifth consecutive month. The 50-point mark separates growth from contraction.

IDFC First Bank, Indian Oil, Infosys, Zomato, JSW Steel will be in focus due to various news developments. Bank Of India Bank Of India has received a demand notice of just over Rs 1,000 crore from the assessment unit, Income Tax department, pertaining to AY 2016-17.