Manufacturing Financial News

₹6,341.90 apiece after the global brokerage firm UBS in its latest report lifted the target price on the stock to ₹7,550 apiece from an earlier price target of ₹5,380, citing a high double-digit growth across domestic and export orders from motion and low-voltage EP segments with a steady ramp-up in OPMs. It expects order inflow growth of 23% during 2023–26E, with revenue growth of around 21% on a 23% earnings CAGR.

Gold prices held firm on Wednesday, supported by lower U.S. Treasury yields, although bullion traded in a narrow range as investors stayed on the sidelines awaiting more cues on the Federal Reserve policy. FUNDAMENTALS * Spot gold was steady at $2,178.31 per ounce, as of 0125 GMT, following two session on gains. * U.S. gold futures edged 0.1% lower to $2,173.70 per ounce.

NEW DELHI : Actis Llp’s BluPine Energy, Singapore’s Sembcorp Industries Ltd, Edelweiss Infrastructure Yield Plus Fund’s Sekura Energy, Torrent Power and JSW Group are exploring to buy Brookfield Renewable’s 1.6 gigawatt (GW) portfolio in India, two people aware of the development said. The deal is expected to have an equity value of around $800 million. JP Morgan is running the sale process for the 1.6 GW capacity, of which 1 GW is operational, while the balance 600 MW is under execution.

capital formation in the economy, accompanied by various government measures, will generate more job opportunities in this decade than the previous one, chief economic advisor (CEA) V Anantha Nageswaran said on Tuesday. Speaking at an event, he said the decline in fixed investment and the moderation in credit expansion, which had hurt economic growth prospects in the previous decade, were hopefully «a thing of the past». «Non-food credit growth is now running close to 20%, balance sheets of companies and banks are in good shape and hiring (is improving),» Nageswaran said. Citing the 2021-22 data he said jobs in the farm sector had declined about 1.5 million but manufacturing and services added 3.7 million each and the construction sector created 1.9 million jobs.

import of solar module import called the approved list of module manufacturers (ALMM), beyond March 31, people aware of the development said. The Ministry of New and Renewable Energy, in a meeting with solar project developers and module manufacturers Tuesday, took a stock of the capacity additions and commissioning timelines, one of the persons said, adding that overall view was that a further relaxation is not required as adequate time had been given to the industry. A final call on the issue would be taken shortly after taking into account all considerations, another person said, adding that some concession for commissioning could be given for modules that have reached the site before March end.

There’s a comforting but erroneous explanation for why solar panels, home batteries and electric vehicles (EVs) are increasingly likely to be made in China. With an economy awash in easy money, its renewable manufacturers are undercutting rivals across the world; ergo, China’s comparative advantage isn’t scale, cost efficiency or innovative prowess, but cheap government subsidies. In the EV industry “everybody has an endless supply of loans and support from the local government," the Financial Times quoted Jörg Wuttke, former president of the European Union Chamber of Commerce in China, as saying in a recent article.

Mumbai has displaced Beijing as Asia's city with the largest number of billionaires, according to Hurun Global Rich List 2024. This ticker-tape news comes as Indian stock markets powered ahead on a robust post-Covid recovery, while China is struggling to raise economic growth. The reordering is unlikely to be permanent, because India's market capitalisation-to-GDP ratio is in overvalued territory, while it is undervalued in China.

Musk surely knows how to control the narrative and the noise. His relentless honking at Raisina Hill’s policy making precinct for the last 4 long years did electrify the imagination of the government bureaucracy. That is why the auto industry executives in private see Narendra Modi government’s recently announced new electric vehicle policy, the last business before the announcement before the 2024 elections, predominantly as a red carpet rollout for just one eccentric billionaire: Musk. Even then to straight jacket the initiative as ‘The Tesla policy’ is a cynical response: The timebound and ceiling based 55-85% import duty cut on electric cars above a certain value, linked to specific localisation and investment milestones to boost domestic manufacturing would benefit incumbents Tata Motors, Hyundai, VW Group as much as it would Musk or accelerate the plans of Phat Nhat Vuong, founder of Vietnamese OEM VinFast, that has been looking to set up base in Tamil Nadu. Predictably therefore, the initial outrage of local players has evaporated post the announcement!

Sanofi India and Sanofi Healthcare India Private Limited, and Cipla on Tuesday announced an exclusive distribution and marketing partnership for the sale and promotion of Sanofi India's Central Nervous System (CNS) product line in India on March 26, according to an exchange filing. As part of this collaboration, Cipla will handle the distribution of Sanofi India's six CNS brands, including the industry-leading Frisium brand of anti-epileptic drugs. According to the joint statement, Cipla will utilise its skills and solid India-wide network of distributors, institutions and market outreach programmes to expand access to these treatments for patients.

Japan’s Cabinet has approved a plan to sell future next-generation fighter jets that it’s developing with Britain and Italy to other countries

Japan’s Cabinet OK’d a plan to sell future next-generation fighter jets to other countries on Tuesday, its latest step away from the pacifist principles the country adopted at the end of World War II

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NEW DELHI : Recent increases in the prices of essential raw materials, including crude oil, palm oil, coffee, and cocoa, could halt the “meaningful" expansion in gross margins that makers of fast moving consumer goods (FMCG) have witnessed over the last few quarters. Faced with such cost pressures, companies are poised to tread carefully before transferring these increases to consumers, mindful of the competitive landscape and the imperative to sustain sales volumes.

pioneering vaccine technology to BioMed Pvt. Ltd., a manufacturing company specializing in high-quality vaccines. This technology entails a recombinant vector vaccine designed specifically for combating the classical swine fever virus in pigs and wild boars, filling a significant gap in India's vaccine landscape. This first recombinant virus-based vaccine for pigs harnesses a reverse genetic platform pioneered and refined at IIT Guwahati. Swine fever, a highly contagious disease among pigs, poses a severe threat with a very high mortality rate, although it does not affect humans. In India, instances of this disease have been frequently observed in northeastern states, as well as in Bihar, Kerala, Punjab, Haryana, and Gujarat, among others.

Investors looking to ride the artificial-intelligence wave have turned their eyes to a sleepier corner of the market—companies that own and operate power plants. Is the run-up justified? AI hype has helped lift Vistra stock 85% year to date. That falls short of Nvidia’s eye-watering 92% surge, but is far greater than the 12% lift that Microsoft has seen over that time.

Investing.com — Wall Street trades positively Tuesday, even as tech giant Apple grapples with more lawsuits and Boeing starts the search for a new CEO. WeWork could be back in play, following reports former boss Adam Neumann has submitted a bid.

BENGALURU (Reuters) -Indian budget carrier SpiceJet said on Tuesday it agreed with Export Development Canada (EDC) to settle liabilities worth around $91 million, allowing it to take ownership of 13 of 15 Bombardier (OTC:BDRBF) Q400 aircraft financed by the Canadian trade finance agency.

SEOUL/BEIJING (Reuters) — Chinese state-owned planemaker COMAC's first wide-body jet is in its «detailed design stage», an executive said on Tuesday, following a report from the jet's fuselage manufacturer aiming to deliver the first fuselage section by September 2027.

₹2,994 on Tuesday. Despite concerns of competition from paint companies and unorganised manufacturers, some favourable factors could help Pidilite retain its edge and keep investors glued to the stock. However, sky-high valuations could be a sticking point.

elections significantly capture public attention. Politicians, political analysts, stock market experts, and even families are all abuzz about the electoral process, making it a pervasive topic of conversation. As the nation is engrossed in election discussions, it's an opportune moment to reflect on how the stock market has fared since the previous election.

A look at the day ahead in European and global markets from Tom Westbrook