Manufacturing Financial News

Nissan has reported its profit sank in October-December to about half of what it earned in the same period the year before

Honda has reported its profit rose 3.5% in the October-December quarter from a year earlier on the back of solid demand in the U.S. and Europe and a recovery in its home market

The recently announced interim budget resonated with the government’s aim of making India a developed economy by 2047. Instead of going for populist policies, the budget focus on infrastructure and R&D will go a long way in making India a manufacturing hub.

We knocked on the doors of Hell’s darker chamber/ Pushed to the limit, we dragged ourselves in—Decades, Joy Division A decade is a good time-frame to take stock of just how much we pushed the limits, how far inside the darker chambers we dragged ourselves to, and finally, how much changed as an outcome. As the Narendra Modi government completes a decade, it’s not a bad idea to take stock of economic policymaking from a bit of Joy Division lens. A dispassionate analysis of the last decade throws up this point: the government has managed to check almost every major box on the “reforms wish-list’ of India since 1991.

Baweja Studios IPO: Issue subscribed 21% so far on day 1; check GMP, other key details of SME IPO Megatherm Induction Limited manufactures induction heating and melting products using electrical induction such as induction melting furnaces and induction heating equipment. Megatherm Induction is a subsidiary of Megatherm Electronics Private Limited. The company also manufactures upstream and downstream equipment and machinery for steelworks, such as transformers, ladle refining furnaces, continuous casting machines, fume extraction systems, etc., as well as electric arc furnaces for the alloy and special steel industry.

By Abhijith Ganapavaram and Valerie Insinna

Gautam Adani's sprawling conglomerate is core to India's ambitions to become the world's third-largest economy by 2030, as it plays a key role across the infrastructure sector, US-based Cantor Fitzgerald & Co said in a note. Adani Enterprises Ltd, the group's flagship company, can deliver a gain of more than 50 per cent, analysts Brett Knoblauch and Thomas Shinske wrote in a note dated January 28, initiating coverage of the company. «India is now the most populous country in the world and has ambitions to be the world's third-largest economy by 2030. To get there, India needs to invest in both digital and physical infrastructure, in addition to increasing its energy production, as energy consumption will be meaningfully higher,» the US-based broker said.

Samsung is set to begin manufacturing laptops at its Noida plant this year, TM Roh, president and head of the MX business, said Monday, adding that India was a key production manufacturing «We will start manufacturing laptops this year at the Noida factory. Preparations are already underway,» said Roh, who is visiting India.

Rolls-Royce Plc has formalized a pivotal seven-year agreement with Azad Engineering, based in Hyderabad, aimed at the production and supply of intricate components crucial for its defense aircraft engines. Azad Engineering's disclosure to the bourses on Monday underscored the strategic significance of this collaboration, positioning the company within the global supply chain for the intricate components essential to Rolls-Royce’s cutting-edge aero engines. Expanding Global Footprint: Under the seven-year commitment, Azad Engineering will play a key role in manufacturing and supplying critical engine parts designed for Rolls-Royce’s defense and military aircraft engines.

Nationally Determined Contributions (NDC) to reduce emissions intensity. the construction and operation of buildings, responsible for approximately 40% of global carbon emissions become particularly significant in this regard.

By Joe Cash and Christoph Steitz

investing in the stock market in January 2024, would have noticed that the market has been slightly volatile of late. This has led to discussion around the prospects of the stock market in this election year. Given that it might be another tough year for the stock market, investors are looking towards “experts" now more than ever to tide over the rough times.

ITC share price opened at ₹456.00 apiece as compared to its previous close of ₹455.45 on the BSE. ITC shares has gained just 5% in the past three months, while the stock is up more than 34% in one year.

Budget expectations: There can't be a more apt time for India's budget to show how to 'strike while the iron is hot' as its larger neighbour and fierce rival China's economy goes through testing times amid a property crisis. While China is suffering an economic plight largely with the failure of its biggest real estate developers that shows no sign of abatement in the downward spiral, India, which has emerged as the fastest growing major economy, is seeing adding many feathers even on the property sector ducking global woes. India is chasing ambitions to be the third largest economy by 2030 while it ramps up infrastructure and invests trillions.

Government of India (GoI) will present the Interim Budget 2024-25 on 1st Feb’24 (Thursday). Although the Budget presentation is only one part of managing public finances, it attracts significant attention. Based on provisional data available for 8MFY23 (Apr-Nov’23), our calculations suggest that gross taxes can exceed budget estimates (BEs) for the third consecutive year, by as much as INR1.3t in FY24. Due to higher non-tax revenue receipts, such as dividends, coupled with higher devolution to states and an expected shortfall in divestments, there is a projected over-achievement of INR1.1t in total receipts in FY24. According to the first supplementary demands presented on 6th Dec’23, the GoI has sought to authorize an additional cash outgo of INR584b in FY24, largely because of higher subsidies and defense services.

interim budget, since the exercise comes just ahead of the general elections, an ET poll showed. The government will likely increase the amount of money transferred under its flagship direct benefit transfer scheme — Pradhan Mantri Kisan Samman Nidhi or PM-Kisan — by about 50% to ₹9,000 per year from the current ₹6,000, said some of the economists polled. A new iteration of the housing scheme and a push for jobs is also expected in the upcoming interim budget, the ET poll of economists indicated. Six of the 10 economists polled by ET say higher allocation for PM-Kisan is one of the three social sector interventions expected.

Mint showed. The study - Market Moves Insights 2020-2023 , showed that 85% of the top hires in 2023 were made by established companies, and 15% by companies backed by private equity (PE) and venture capital (VC). In the previous year, the figure for the startup sector stood at 29%.

₹20 crore Osamu Suzuki made in the company in 1981, ‘staking his reputation’ on a company that was almost ‘guaranteed to fail’, according to Bhargava, because he was one of the few people who believed in the potential of India’s car market. Suzuki also helped Maruti break out of the mould of a traditional PSU and prioritize profitable growth and competitiveness.

₹53.91 crores. The issue is entirely a fresh issue of 49.92 lakh shares. Also read: IPOs next week: Six new issues, 10 listings to keep primary market busy Megatherm Induction IPO price band is set at ₹100 to ₹108 per share.

₹15 trillion mark soon after the Supreme Court judgement. The Adani group has already invested close to $1 billion in the Navi Mumbai airport to operationalize the first of the four planned passenger terminals by December 2024.

By Jamie McGeever