Manufacturing Financial News

₹162 to ₹171 per equity share of face value of ₹10. Platinum Industries IPO lot size is 87 equity shares and in multiples of 87 equity shares. 1.

Havells India Limited surged by 4 percent, reaching a 52-week high of ₹1,482. This notable increase came after Goldman Sachs upgraded the rating for the wires and cables manufacturer from "neutral" to "buy." Alongside the rating upgrade, the global brokerage also raised the price target for Havells to ₹1,660 from ₹1,540, indicating an upside potential of 17 percent from the previous session's closing price.

IG Drones, India’s leading drone tech company has announced that it has bagged a procurement order from the Defence Ministry to supply drones, for surveillance purposes. This is a landmark deal the drone manufacturer has secured, to assist the defence ministry in its operations. The order entails supplying drones and essential accessories to the Ministry of Defence. The selected drones have industry-first features and are enabled with 5G capability and have advanced features and exceptional performance, functioning effectively in extreme temperatures and high altitudes. The drone is capable of vertical take-off and landing and can be effectively used in defence and medical applications. By providing enhanced surveillance capabilities, these drones act as a crucial asset for defence forces, strengthening operational efficiency at the borders. With the advent of 5G services from Telecom Service Providers (TSPs), these drones now boast enhanced precision control capabilities, allowing them to be remotely operated from a command centre, eliminating the need for on-site presence.

accessible premium' is on the rise. The company is hoping that this new car will be the biggest volume generator for Škoda in India. Skoda Auto India is looking to increase its share in the Indian market to 5 per cent by 2030. With a mission to democratize European technology on Indian roads, the auto giant claims that the new car to will be the biggest volume generator for Skoda in India.

₹567.95. Meanwhile, it has rallied 364 percent in the last 3 years and 416 percent in the last 5 years. An investment of ₹1 lakh in this stock a year ago would have turned into ₹3.54 lakh today.

In line with the investor demand, the company's shares trading with a premium of Rs 102 in the unlisted market.

SIDBI ET MSME Conclave held in Rajkot saw a stellar turnout. From conversations around building financially resilient and competitive MSMEs to the challenges that need immediate solutions, the Rajkot edition aimed to understand the role of Gujarat in shaping a viable ecosystem for the MSME sector. Small and medium industries in the city are dominated by foundries, engineering & automobile works, and units that manufacture textiles, gold & silver jewellery, handicrafts, spices, medicines and wall clocks. Gujarat has the fourth-highest number of micro, small and medium enterprises in the country, after Maharashtra, Tamil Nadu and Uttar Pradesh, according to data provided by the Union government in Parliament last year.

Cost of Living LIVE Updates February 27: The cost of living is the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

multibagger superstars of last year are still holding their heads high and giving some of their largecap peers a run for money. Atleast seven smallcap stocks, which have seen a multifold rise in the value in 2023, extended gains further in 2024 and gave over 100% returns in just two months!

issue will be available for the public to bid till February 29. The IPO is a combination of a fresh equity issue worth Rs 329 crore and an offer for sale of 70.42 lakh shares. Ahead of the issue opening, the company mopped up about Rs 178 crore from anchor investors.

Platinum Industries opened for subscription today. The issue will be available for the public to bid till February 29. Ahead of the IPO, the company has garnered Rs 70.59 crore from anchor investors.

U.S. economic growth has been a «key driver» of better than expected global growth, U.S. Treasury Secretary Janet Yellen will tell a news conference on Tuesday ahead of this week's meeting of G20 finance officials in Sao Paolo, Brazil. In excerpts of her remarks released by Treasury, Yellen said the International Monetary Fund and other forecasters had projected a broad-based slowdown in the global economy in 2023 that did not happen.

Gold prices were steady on Tuesday, as investors awaited a key U.S. inflation reading due later this week that could provide more information on how soon the Federal Reserve might begin cutting interest rates.

Canara Bank: The public sector lender on Monday said its board has approved the split of each share into five shares, in an exchange filing. Canara Bank added that the move is aimed "to improve the liquidity of the Bank’s share and to make it affordable for retail investors and also to broaden the retail investors base". The expected time of completion for the stock split is 2–3 months, the public sector lender added.

WTO agreement on duty-free trade in digital services would appear to be self-damaging. India is a major beneficiary of growth in services trade, and within that, the rise of digital trade, which has been allowed free access through a quarter century of tax moratorium. Tax forgone on import of services such as ecommerce, entertainment and software would be a fraction of the volume of India's technology-enabled services exports that could face tariffs in retaliation.

nutraceuticals, health supplements and drugs in the same facility, said people with knowledge of the development. Under the revised Schedule M of Drugs and Cosmetics Act 1940, a manufacturing facility approved for drugs cannot be used for manufacturing other products. The Drugs Controller General of India (DCGI) has now directed the state authorities to take action against units that have licences to manufacture both drugs and food products and are flouting this norm, the people cited earlier told ET. According to the Federation of Pharma Entrepreneurs (FOPE), any clampdown in this regard will pose a significant challenge to the industry, affecting not only exports but also the domestic market. As per a recent notice by the DCGI, an enforcement and surveillance drive carried out by the Food Safety and Standards Authority of India (FSSAI) found that many units in Himachal Pradesh have dual licences under FSS Act 2006 and Drugs and Cosmetics Act 1940 for manufacturing nutraceuticals, health supplements and drugs in same factory.

By David Shepardson

When Diana Skakavac scrolls grocery store loyalty apps, she’s always looking for her “unicorn”: personalized offers for Tide laundry powder.

₹95,000 crore in investments that will create about 2.25 million new jobs in the next four to six years. The ministry is eyeing ₹25,000 crore in investments through the production-linked incentive scheme (PLI) and another ₹70,000 crore through the PM Mega Integrated Textile Regions and Apparel (PM-MITRA) parks scheme.

Also Read: Platinum Industries sets price band at ₹162-171 for its ₹235 crore IPO The production plant of Platinum Industries is situated in Palghar, Maharashtra, and has an area of around 21,000 square feet. Furthermore, the business is now constructing a new manufacturing plant in Palghar.

SUV segment, credit rating agency Crisil said on Monday. This anticipated growth is expected to come on the back of an estimated high base of 6-8 per this financial year even as demand for cars and exports remain muted, it said. A significant change in consumer preference has cranked up demand for SUVs leading to its market share doubling to around 60 per cent of total domestic volume this fiscal from around 28 per cent before the pandemic in fiscal 2019, the ratings agency said. This preference is expected to grow further, backed by a healthy pipeline of new model launches across price points, including electric variants, and normalised availability of semiconductors after a prolonged period of short supply, it said.