Manufacturing Financial News

manufacturing sector whose share in India's GVA continues to languish at about 17.4% which is less even than the share of agriculture. The government's persistent efforts to invigorate this crucial segment have led to the introduction of various initiatives, and at the forefront is the Production Linked Incentives (PLI) scheme under the flagship Atmanirbhar Bharat Abhiyaan. The PLI scheme, conceived with the aim of overhauling domestic manufacturing, seeks to amplify capacity and competence and create global champions.

India Electronics & Semiconductor Association (IESA) and the India SME Forum- have supported the continuation of prohibition of imposing customs duties on electronic transmissions at the World Trade Organization (WTO), citing it to be important for supply chain resilience post Covid. The two industry bodies made this submission to the global trade watchdog as part of a consortium of around 170 global associations. The submission comes amid India and South Africa pushing hard for the prohibition to end as it leads to revenue loss and are keen on an outcome on the issue before the WTO's 13th ministerial conference (MC13) later this month. The moratorium on customs duties on electronic transmissions is in place since 1998. Around 105 countries, including the US, the UK, Australia, China, and Japan favour this prohibition. «Continuation of the moratorium is also important to supply chain resilience for manufacturing and services industries,» the associations said.

₹75,000 crore of capex for new energy business. Recently, oil producer ONGC and power firm NTPC entered into a joint venture agreement to set up offshore wind energy projects. The SBI fund will be benchmarked against the Nifty Energy Index, which has delivered 20% annualized returns over a five-year period (as of 31 January), as against 14.9% annualized returns delivered by Nifty 50 Index in the same period.

₹500 crore, alongside a secondary offering of 1.57 crore shares by two promoters – namely, Suresh Tyagi and Jimmy Tyagi – in addition to shares from Premji Invest-owned PI Opportunities Fund I and Kotak Special Situations Fund. Also read: Vibhor Steel Tubes raises ₹21 crore from anchor investors ahead of IPO PI Opportunities Fund, an affiliate of Premji Invest, serves as the private equity and venture capital investment branch of the Premji Foundation, overseen by Azim Premji.

OpenAI Chief Executive Sam Altman’s plan to reshape the global semiconductor industry envisions pouring vast sums into a challenge that is far more complicated than money. Manufacturing chips is enormously capital intensive. It is also one of the most intricately complex industries in the world with a history of sharp cyclical swings that have made companies wary of radical expansion.

₹2 lakh. “QCOs are issued in the interest of consumers, so that end-users should get a quality product and manufacturers should comply with prescribed standards.

Mumbai (Maharashtra) [India], February 8: Skillmine, a leading IT Services and Product Engineering company, has proudly completed a decade of innovation and excellence. With a relentless focus on problem solving and making technology better, faster and cheaper, Skillmine is emerging as a challenger within technology enterprises. Taking its cutting-edge services and solutions further in AI/ML Engineering, manufacturing 2.0, Data, Cyber and Regulatory challenges, Skillmine's products not only address significant business challenges but also provide scalable solutions at competitive and value-driven pricing.

₹21.5 crore from anchor investors a day ahead of its initial public offering (IPO). The anchor book round saw participation of only three investors - Saint Capital Fund, Chhatisgarh Investments Limited and Neomile Growth Fund - Series I. Also read: Vibhor Steel Tubes IPO: Check issue dates, price band, GMP, among 10 key things to know The company allocated 14,24,907 equity shares at a price of ₹151 per share to its anchor investors.

Retail inflation eased to a three-month low of 5.1% in January compared with 5.7% in December, reversing course from the previous two months, according to data released Monday. Another data release showed that industrial output rose back again in December to 3.8% compared with 2.4%, indicating improving prospects. Experts point out that moderating inflation coupled with strong growth provides further policy space for RBI to cut rates in the latter half of the year.

Samsung has started pre-booking for the Galaxy Book 4 series in India ahead of the expected launch of these laptops later this month. The Galaxy Book 4 series could include Galaxy Book 4 Pro, Galaxy Book 4 Pro 360 and Galaxy Book 4 Ultra models. Prior to the India launch, the Galaxy Book 4 series was launched in South Korea in December.

₹38.15 per share on February 12, against previous close at ₹42.35 per share. The sugar manufacturer posted a standalone net loss of ₹4265.61 lakhs for the quarter ended on December 31, 2023, against a net profit of ₹1946.84 lakhs last year same period. Also read: MCX share price plunges 9% on weak Q3 results; here's what the analyst says Sequentially, the sugar company reported a 171% year-on-year rise in its net loss from ₹1570.67 lakhs in the second quarter, according to the exchange filing.

Also Read: Multibagger railway stocks IRFC, RVNL and 3 others fall up to 11.5%. Here's why The company's shares have shown a steady growth trend over the past four years, increasing from approximately ₹20.25 apiece to the current value of ₹629 apiece, resulting in a stunning return of 3006%. Remarkably, the stock has achieved multibagger returns in three of the last four years.

Decades after automation began taking and transforming manufacturing jobs, artificial intelligence is coming for the higher-ups in the corporate office. The list of white-collar layoffs is growing almost daily and include jobs cuts at Google, Duolingo and UPS in recent weeks. While the total number of jobs directly lost to generative AI remains low, some of these companies and others have linked cuts to new productivity-boosting technologies like machine learning and other AI applications.

₹762 in February 2019 to around ₹6,500 currently. This implies a return of over 753 percent for its investors. Meanwhile, the stock has also given multibagger returns in the last 3 years as well as in the last 1 year.

By Aditya Kalra and Munsif Vengattil

BSE Sensex has dropped 1.5% year-to-date (YTD), while the Nifty 50 is down more than 0.4% since the beginning of 2024. The drop in the Indian stock market has been largely led by the outflow of foreign institutional investors’ (FII) money amid rising bond yields in the US. However, despite the volatility in the market, some penny stocks registered whopping gains so far this year.

Stock market today: Despite heavy selling in mid-cap and small-cap stocks, Gensol Engineering shares witnessed strong buying interest on Monday. Gensol Engineering share price today opened upside at ₹1,170 apiece on NSE and went on to touch an intraday high of ₹1,199 per share on NSE, logging around 8 percent rise against its Friday close of ₹near ₹1,112 apiece.

air taxis, reminiscent of ground-based rideshare services like Uber and Ola, are set to redefine urban transportation dynamics. Speaking at the Bharat Mobility Global Expo, Kento Ogura, Assistant Manager at Suzuki Motor, revealed the company's strategic plans to TOI. The debut of the SkyDrive, featuring 12 units of motors and rotors, is slated for the 2025 Osaka Expo in Japan.

Cummins India Ltd’s robust performance in the December quarter (Q3FY24) propelled its shares up by over 8%. The engine manufacturer’s operating revenue rose 16% to ₹2,534 crore, with net profit rising by 26% to ₹455 crore. Besides, Cummins maintained double-digit sales growth forecast for FY24.

In Curb Your Enthusiasm, a series created by Larry David, he plays a melodramatic version of what he claims is his real self. Once, he encounters a large woman in a shelter for battered women and he suspects she is lying about her trauma because she is so physically imposing no man could have battered her. Another day, he appoints an African-American man to behave poorly with Caucasians, on his behalf.

Tesla (NASDAQ:TSLA) announced a $1,000 discount on select Model Y variants purchased in February 2024, as it pursues «continuous production for efficiency.»