Manufacturing Financial News

Germany’s economy shrank 0.3% last year as Europe’s former powerhouse struggled with more expensive energy, higher interest rates, a lack of skilled labor and a homegrown budget crisis

Though all such data are quite encouraging, electric two wheeler sales slowed down significantly earlier this year after the govt reduced subsidies provided under the FAME Scheme which is an abbreviation for Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India. In FY24 till December, 6,42,048 units of electric two-wheelers were sold in the country. Considering average sales of more than 60,000 units per month, total sales in the financial year should comfortably cross FY23's sales figures. However, it would still miss Niti Aayog's ambitious target of 1.9 lakh per month sales. EV two-wheelers need more boost? The EV sector initially needed a huge push from the government in its infancy and it did get that. The Indian government brought the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-India) Scheme, under National Mission on Electric Mobility in 2011/National Electric Mobility Mission Plan 2020, in 2013 to give the sector the necessary boost.

renewable energy sector, which has attracted around 16.93 lakh crore of investment since 2014, Union minister R K Singh said on Monday. As much as 80 GW of thermal power generation capacity is under construction which we will have by 2030, Singh told reporters, adding that about 99 GW of renewable energy is under construction, at present. Briefing reporters on new rules called Electricity (Amendment) Rules 2024, Singh said that as much as Rs 16.93 lakh crore has been invested in power and renewable energy sectors so far.

Hyundai Motor is set to invest a substantial amount of Rs 7,000 crore to revamp its recently acquired second plant in India. The automotive giant successfully acquired the dormant factory from General Motors Co., marking a significant development in the Indian automotive landscape. The investment agreement is poised to be officially signed at the annual World Economic Forum summit in Davos, Switzerland.

Indian Railways industry is currently enjoying significant growth, driven by its vast network and the expected surge in demand for its services. As the fourth-largest railway network globally, Indian Railways operates over 22,593 trains daily, catering to 24 million passengers and transporting 204 million tonnes of freight across its 68,103 km route and 7,337 stations.

Also Read: Nifty 50 takes just 26 days to jump from 21k to 22k; Tata Consumer, Bajaj Auto, Wipro jump up to 21% in this period The growth of the manufacturing sector fell to 1.2% YoY in November 2023, sharply down from 6.7% YoY a year ago. Electricity output rose by 5.8% YoY, which is far lower than the 20.4% YoY growth seen in October 2023. Mining also slowed down to 6.8% YoY compared with 13.1% YoY growth in October 2023.

Polycab India Ltd’s shares are down 27%. Reports of tax evasion by the company have created an environment of uncertainty. A press release from the finance ministry has stated that the income tax department had initiated search and seizure operations of a group engaged in the manufacturing of wires and cables on 22 December.

Boeing Co. Chief Executive Officer Dave Calhoun sought to rally employees reeling from a manufacturing setback, this time involving wrongly drilled holes in a crucial aircraft section — yet another blow to a company that once enjoyed a sterling reputation for building awesome flying machines. “I have heard those outside our company wondering if we’ve lost a step. I view it as quite the opposite,” Calhoun wrote in a company memo, going on to tout the “rigor around our quality processes” at the US aircraft manufacturer. “I am proud of the team, and confident we’ll look back on this time period as when we took the necessary steps that set Boeing on the right course for the future.”

shipments from India declined 21% last year as many overseas markets continued to face monetary and geopolitical crises, as per the latest SIAM data. Overall exports stood at 42,85,809 units last year compared to 52,04,966 units in 2022. Passenger vehicle shipments rose 5% to 6,77,956 units last year from 6,44,842 units in 2022. However, other segments like commercial vehicles, two-wheelers and three-wheelers saw a decline in exports last year. Two-wheeler exports slipped 20% to 32,43,673 units last year from 40,53,254 units in 2022. Similarly, commercial vehicle shipments declined to 68,473 units last year from 88,305 units. Three-wheeler exports declined 30% to 2,91,919 units last year from 4,17,178 units. Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon said in 2023, passenger vehicle exports were driven by vehicle launches and pent-up demand in markets like South Africa and the Gulf. «The increase can also be attributed to a smoother supply chain as compared to the previous year, wherein there were supply-side disruptions, including that of semiconductors.

India works to become a developed country by 2047, it must not forget that quality of life, improved living standards and ease of living are parameters as important as, if not more than, per-capita income. This is the context in which the Supreme Court's stay on the post facto green nod for projects or mandatory implementation of good manufacturing practices 'Schedule M' must be understood.

Lupin announced on Sunday, January 14, that it has received approval from the US health regulator to market a generic drug to treat migraine and hypertension. The Mumbai-based company has received the nod from the US Food and Drug Administration (USFDA) for Propranolol Hydrochloride extended-release capsules in multiple strengths, said Lupin Ltd in a regulatory filing to the stock exchanges today. The company's product is the generic version of ANI Pharmaceuticals' Inderal LA extended-release capsules, it added.

NEW DELHI : Automobile shipments from India declined 21% last year as many overseas markets continued to face monetary and geopolitical crises, as per the latest Society of Indian Automobile Manufacturers (SIAM) data. Overall exports stood at 42,85,809 units last year compared to 52,04,966 units in 2022. Passenger vehicle shipments rose 5% to 6,77,956 units last year from 6,44,842 units in 2022.

₹25 crore debt from Northern Arc Capital. Launched in 2017, Amit Gupta along with R. K.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Tesla cuts more than prices as EPA updates standards and pay for workers in the U.S. goes up. In addition, VinFast enters India with a big investment.

The good news is the probability of a recession is down sharply, according to The Wall Street Journal’s latest survey of economists. The bad news is that, for a lot of people, it is still going to feel like a recession. Business and academic economists surveyed by the Journal lowered the probability of a recession within the next year, to 39% from 48% in the October survey.

(Reuters) — Alaska Airlines has begun preliminary inspections on some of its Boeing (NYSE:BA) 737-9 MAX aircrafts this weekend, adding that up to 20 planes could undergo inspection, the company said on Saturday.

IPO) of Epack Durable will open for subscription on January 19 and will be available for the public to bid till January 23. The IPO comprises a fresh equity issue of up to Rs 400 crore and an offer for sale (OFS) of up to 10,437,047 shares by selling shareholders. Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, Ajay DD Singhania, Pinky Ajay Singhania, Preity Singhania, Nikhil Bothra, Nitin Bothra, and Rajjat Kumar Bothra are the promoter and group entities selling part of their stake in the company. Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, and Ajay DD Singhania, collectively hold 42.90% in the company. India Advantage Fund and Dynamic India Fund, the two funds managed by ICICI Ventures, will also sell stake in the company.

tablets after evaluating the import data, which it is monitoring, an official said. In October last year, India put in place an import management system under which importers of these products have to seek authorisation from the government. The system is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime.

Is the Indian Market Index expensive? The easiest answer which comes to ones’ mind is “Yes”. Nifty is at all-time high and trading at ~20x one year forward, hence on an absolute basis in line with its last five years’ average. On a relative basis, it trades at a premium of ~88% to MSCI EM and 26% to MSCI World index, making India arguably one of the costlier markets. However, a) The Quality of Earnings and macro situation is not similar to India’s past b) Indices are not comparable to their historic past. The Indian economy is going from strength to strength with most economists increasing their estimates from 5-6% to 7-8%. If one were to add 4-5% as inflation, Nominal GDP could grow at 11-13%. India is adding US$ US$ 1 trillion in 3 years so assuming a MCap to GDP ratio it can add >US$ 1.25 trillion incrementally every 2-3 years, for the broader markets or over 10-15% p.a. The PAT as % of GDP to has increased from 1.9% lows in F2020 to over 5% currently and we will not be surprised if it doubles in the next 5 years if the profit growth is twice the GDP growth in a blue sky environment. Then one could argue of a higher MCap to GDP multiplier of 1.5-1.75 x. Our bottom up analysis in JM PMS estimates NIFTY 50 to grow at 15% plus p.a., with broader base contribution from many industries as against the financial industry historically. The indices have had material changes in the last decade, almost 17 stocks or 35% of the no. of stocks have been reshuffled in the Nifty 50, and in most cases the stocks which have entered are much higher PEs.

overseas markets continued to face monetary and geopolitical crises, as per the latest SIAM data. Overall exports stood at 42,85,809 units last year compared to 52,04,966 units in 2022. Passenger vehicle shipments rose 5 per cent to 6,77,956 units last year from 6,44,842 units in 2022.

Panasonic Electric Works India (PEWIN) — a subsidiary of Panasonic Life Solutions — aims to capture 50 per cent market share of India's wiring devices market by 2030, a top company official said. «Over the next five years, our focus in India will be on significantly expanding our market share,» Toshinobu Kawasaki, Joint Managing Director, Panasonic Electric Works India, told PTI.