Manufacturing Financial News

Alok Industries rallied almost 16 percent in trade on Friday, spiking for the 3rd time this week, after Reliance Industries invested ₹3,300 crore in the company by subscribing to preferential shares. The stock jumped as much as 15.8 percent to its 52-week high of ₹31.45. Before this, it rose 7 percent on January 3 and hit its 20 percent upper circuit on January 2 (when the announcement was made).

AAP MP Sanjay Singh, arrested in a money laundering case related to the alleged Delhi excise scam, to sign forms and documents for his Rajya Sabha renomination. Special Judge M K Nagpal passed the order on an application filed by the politician, who submitted that his present term as a member of the Rajya Sabha is expiring on January 27 and the Returning Officer has issued a notice on January 2 for conduct of the election and nominations for the same are to be submitted by January 9.

Indore has been seeing a steady demand for the apparel category in the festive and wedding season over the last few months. The city, as per estimates, is home to over 2500 small and medium-sized garment manufacturers. As per a report in The Times of India, demand for the city’s readymade garments in December 2023 saw a jump with dispatches to Andhra Pradesh and Tamil Nadu up by more than 10 per cent amid the boom witnessed during the wedding season. So, what is it that makes Indore such a viable garment manufacturing hub for a host of SMEs in the city? Devroop Dhar, Co-Founder, Primus Partners says the garment hub in Indore is thriving and experiencing consistent growth given its rich heritage and tradition.

HAL with a buy rating, and CLSA is positive on financial stocks like Bajaj Finance, ICICI Bank and Mahindra Financials. Motilal Oswal has a buy rating on IIFL Finance. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: UBS on HAL: Buy| Target Rs 3600 UBS initiated coverage on HAL with a buy rating and a target price of Rs 3600.

“We expect Nifty50 to give a further return of 5,000 points and Nifty50 is expected to reach 26,000 in the year 2024,” says Shailesh Saraf, smallcase Manager & MD — Dynamic Equities Pvt Ltd. In an interview with ETMarkets, Saraf who has over 3 decades of experience in capital markets said: “We believe that 2024 will continue to see a great number of IPOs—possibly even better than 2023—given the expectation of GDP growth and the India manufacturing story where capital spending by the Government is significant ($120bn),” Edited excerpts: We were cruising nicely but suddenly COVID, freight concerns, and potential geopolitical tension strike D-St. What is your take – is it profit booking or will any of the above factors have a material impact? Shailesh Saraf: The Indian market has crossed 4 trillion USD in terms of market capitalization. With 25% gains this year India has outperformed the major global markets like the US, China, Japan, and Europe.

growth in the manufacturing and services sectors, the United Nations has said. The UN World Economic Situation and Prospects (WESP) 2024 report, launched here on Thursday, said that gross domestic product in South Asia is projected to increase by 5.2 per cent in 2024, driven by a robust expansion in India, which remains the fastest-growing large economy in the world.

By David Shepardson

By Max A. Cherney and Abhirup Roy

₹1.97 trillion (over $26 billion) to enhance manufacturing capabilities. The 14 sectors enjoying the benefits of PLI schemes include telecommunication, white goods, textiles, medical devices manufacturing, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones, and pharma. Since then several other sectors have approached their respective ministries asking to be included under the PLI scheme.

A less flashy Chinese electric vehicle maker is fast closing the gap with Tesla, the longtime, market-leading pioneer

American consumers bought 15.6 million new vehicles last year

Starting this month, some new personal computers that run Microsoft’s Windows 11 operating system will have a special “Copilot key” that launches the software giant’s AI chatbot

potential to become the world’s largest gems and jewellery exporter, commerce and industry minister Piyush Goyal said at the inaugural event of the five-day India International Jewellery Show on Thursday. The country can be a proficient lab-grown diamond maker, impeccable design centre and technologically advanced machinery manufacturer, he said. “It’s time we embark on the journey to realise our true potential and show our prowess to the world,” said Goyal. The five-day exposition comprises about 1,500 exhibitors and 3,000 stalls. The largest jewellery trade show in the country kicked off against the backdrop of a consistent surge in gold prices in the domestic market and a sluggish exports market. Sharing his outlook on the market, Vipul Shah, chairman, Gem & Jewellery Export Promotion Council said gold prices are set to skyrocket further due to a combination of factors, the most important being the “de-dollarisation trend” which is prompting people across the world to invest in gold as an asset class. Geopolitical factors will also contribute to the prices going up further, he said. Meanwhile, exports which fell 20-22% year-on-year in the first nine months of this financial year, are likely to end the fiscal with almost a 25% decline year-on-year, said Shah. Goyal said massive investments are being made to create a world-class infrastructure, including the 20-acre India Jewellery Park in Navi Mumbai and a common facility centre in SEEPZ Mumbai with modern machinery and equipment.

Piyush Goyal said Thursday. The planned ‘Bharat Park’ will facilitate other countries of the world to buy Indian goods, he said during and event organised by the Synthetic and Rayon Textiles Export Promotion Council (SRTEPC). Expressing concern on Free Trade Agreements (FTAs) with Japan, Australia, UAE, and South Korea, he said that utilisation of benefits are very poor in India.

Prominent Bitcoin (BTC) mining firm Cipher Mining has acquired 16,700 new mining rigs, aiming to position itself as one of the leading players in the industry following the anticipated Bitcoin halving event in April. 

telecom equipment maker Nokia said on Thursday it had signed a 5G patent agreement with one of China's leading smartphone makers Honor, but its legal battles with other Chinese companies over patents continue. Nokia, once the world's number one mobile phone maker, holds a significant patent portfolio of some key technologies needed in phone manufacturing and the resulting licensing revenue represented 39% of operating profit in 2022.

toy manufacturing in the country through import duties and quality control orders. Addressing journalists in New Delhi, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Rajesh Kumar Singh said the proposal of having a PLI scheme on toys has been put on hold and a third-party audit of the white goods PLI will be conducted. Responding to a query on the decision to put the toy PLI proposal on hold, he said, “Currently we are focused on getting these 14 PLI schemes up and running in a good way.

The US dollar is under pressure as the pound, and euro attempt a recovery, raising doubts about its upward trajectory.

Investing.com — U.S. private employers added far more roles than expected in December, pointing to lingering resilience in the labor market that may impact how Federal Reserve policymakers approach potential interest rate reductions this year.

hiring this year is expected to grow 8.3 per cent this year with the job market showing signs of recovery in December, a report said on Thursday. December witnessed a 2 per cent growth in hiring, the foundit Annual Trends Report said. It projected an overall hiring expansion of 8.3 per cent for 2024, with Bengaluru expected to see an 11 per cent surge. Key sectors that will experience increased hiring include manufacturing, BFSI, automotive, retail, and travel and tourism, it said.

Citi Global Wealth Investments chief economist Steven Wieting discusses the impact of the Fed's inflation strategy on the labor market and overall economy on 'Making Money.'