Manufacturing Financial News

Citi analysts said in a note Thursday that they now expect the Fed's first cut to occur in June, one month earlier than before.

EPACK Durable IPO: EPACK Durable has raised ₹192 crore from from marquee investors in anchor round on Thursday, January 18, ahead of its IPO subscription opening for bidding. EPACK Durable IPO opens for subscription on January 19, 2024 and closes on January 23, 2024. The EPACK Durable IPO price band is set at ₹218 to ₹230 per equity share of the face value of ₹10 each.

China’s BYD, the largest electric vehicle manufacturer globally, introduced three battery electric vehicle models in Indonesia on Thursday as the company aims to establish itself as the market leader in Southeast Asia's largest economy.

Taiwan Semiconductor Manufacturing (NYSE:TSM), the Taiwan-based chipmaker, has announced quarterly net profit figures surpassing market expectations in its Q4 financial results unveiled today.

India will be the fastest growing major economy in the world for the next three years. China's growth has been estimated to slow to 5.4% in 2023 and to 4.6% in 2024 and edge slightly higher at 4.8% in 2025 before settling at 4.6% in 2026-dragged down largely by its property market woes and slowing demand. S&P said it expects Asia-Pacific's growth engine to shift from China to South and Southeast Asia. The decline of China, and at the same time the rise of India, has one common factor: population. Chinese are shrinking in number and aging, which is bad for the manufacturing powerhouse which needs young labour to stay in the leadership position. India, on the other hand, has more than 50% of its population below the age of 25 and more than 65% below the age of 35. SO many young people at work will propel economic growth if the government policies align. Shifting population numbers make India's rise and China's decline inevitable. China's baby problem As per the Chinese government, the population dropped by 2 million people in 2023 in the second straight annual drop as births fell and deaths jumped after the lifting of COVID-19 restrictions, AP has reported.

IndiGo and 250 from Air India, adding that the aircraft manufacturing giant has delivered 75 units to Indian carriers — 41 to Indigo, 19 to Air India, 14 to Vistara and one to Go First. “India is a force that will power global aviation over the next decades...the forecast is that India will require 2,840 new aircraft over the next 20 years to serve the needs of its growing aviation market," PTI quoted Maillard as saying.

EPACK Durable IPO: The mainboard initial public offering (IPO) of air conditioner (AC) manufacturer EPACK Durable will open for subscription tomorrow, January 19, 2024. The company is the second largest room air conditioner (RAC) original design manufacturer (ODM) in India in terms of the number of units (indoor + outdoor) manufactured in fiscal 2023 through the ODM route, according to EPACK Durable's red herring prospectus (RHP).

Ramkrishna Forgings Ltd on Thursday posted a 43 per cent rise in consolidated net profit to Rs 86.86 crore during the December quarter on the back of higher income. The company had posted a net profit of Rs 61.04 crore in the year-ago period, the company said in an exchange filing. The company's total income in the third quarter of the current fiscal also rose to Rs 1,059.32 crore from Rs 778.22 crore in the year-ago quarter.

In the fast-paced world of industrial manufacturing, a digital revolution is underway, reshaping the traditional landscape and redefining the way businesses source their essential components. The integration of ecommerce into B2B transactions has become a game-changer, and leading this transformation is the innovative approach of MISUMI, an industrial component manufacturer committed to efficiency, customization, and global accessibility. MISUMI, today has carved a niche for themselves by consistently delivering cutting-edge solutions that redefine industry standards and elevate operational efficiency.

(Reuters) — Fastenal (NASDAQ:FAST) surpassed fourth-quarter profit and revenue estimates on Thursday, as higher demand from manufacturers for its onsite products boosted sales of its products, such as safety gloves, power tools and other industrial equipment.

Investing.com -- U.S. futures edged slightly into the green on Thursday, but remained muted as hopes for Federal Reserve interest rate cuts early this year continued to recede. Elsewhere, Google boss Sundar Pichai reportedly warns employees of more impending job cuts at the tech behemoth, while chipmaker TSMC says demand for artificial intelligence will fuel a year of «healthy growth.»

Budget 2024: EzeRx, a medtech company, on Thursday urged policymakers to prioritise preventive health infrastructure, local manufacturing, and mass anemia reduction in the Interim Budget 2024.

Investing.com — The U.S. dollar slipped lower during early European trading Thursday, but remained near a one-month high after robust U.S. retail sales data spurred more doubts over early rate cuts by the Federal Reserve.

Investing.com-- Taiwan Semiconductor Manufacturing Co (TW:2330) (NYSE:TSM) logged a smaller-than-expected decline in its fourth-quarter profit as revenue was buoyed by increased sales of its most advanced chips.

₹5,000 crore giant with 15-20% growth potential, needs a clearer regulatory framework to flourish," Tushar Bhandari, Whole Time Director, AABL, opined. Also Read | Alco-bev industry in tight spot over shrinking margins as states keep MRP constant: ISWAI's Nita Kapoor The alcobev industry currently faces a challenge where it pays Goods and Services Tax (GST) on the procurement of raw materials, packing materials, and services.

Emkay Global Financial Services, said, “With index setting at long-term mean valuations, we expect 11% return for the Nifty in 2024. The current composition of the Nifty is predominantly defensive. The India story is largely a capex-driven, industrials-led earnings bounce-back.

Mihir Vora, veteran fund manager and the Chief Investment Officer (CIO) of TRUST Mutual Fund believes the Interim Budget 2024 will unlikely have big-bang announcements but the government may announce the continuation of the current initiatives and schemes. He expects capital expenditure for infrastructure like roads, railways, water, power and defence to increase and there may be some tweaking of the slabs for income tax to boost consumption. In an interview with Mint, Vora also shared his views on the markets and sectors to watch.

Taiwan's TSMC will formally open its new chipmaking foundry on Japan's Kyushu island on February 24, its chairman said Thursday, which is part of their plan to expand its global manufacturing footprint. Taiwan Semiconductor Manufacturing Company — whose clients include Apple and Nvidia — controls more than half the world's output of silicon wafers, used in everything from smartphones to cars and missiles.

India is yet to decide on the lower import taxes on imported electric vehicles, news agency Reuters quoted Rajesh Kumar Singh, a top bureaucrat at the Department for Industry and Trade Promotion as saying at the ongoing World Economic Forum in Davos. The issue of the Elon Musk-led company's entry and lower EV import taxes has also faced resistance from the domestic industry, the official said. Additionally, India has continued its demand of wanting firm commitments from Tesla on investment and manufacturing should the government opt to lower taxes.

land deals for over 2707 acres closed in 2023 across the country up from 82 deals for 2508 acre a year ago. Backed by strong residential sales momentum across cities, at least 72% of the total land area closed in 2023 is slated to be used for residential development. “In terms of transaction size, Ahmedabad was the front-runner with the biggest land transaction in 2023.

Budget expectations: According to a report by the World Gold Council, India is the second largest consumer of gold jewellery in the world and the interim Budget with strategic moves can give the industry a shot in the arm. The World Gold Council report said much of the Indian gold market was very traditional, reflecting important cultural and religious ties. This can be seen in the long-standing preference for 22-carat jewellery and the dominance of bridal jewellery. But the gold market is evolving, with changing tastes and designs. In recent years, for example, demand has grown for lightweight and studded jewellery. These stones and jewellery are considered as the power, success, and reputation for the Indian women thus providing them social and economic security, the value of which can never be undermined. Also Read: A bold Budget can pave way for India to be Global South's voice Budget boost for India — a jewellery factory of the world India today is the factory for the world in jewellery segment and has potential to become the market for the world. The Gems and Jewellery industry has become one of the largest businesses in India, playing an important role in the Indian economy. If we consider the statistical data, it is seen that it contributes to almost 7% of the country’s total GDP, and 15.71% of India's total merchandise exports.