Manufacturing Financial News

By Joice Alves and Rae Wee

Investing.com — The U.S. dollar retreated from the previous session’s three-week peak in early European trade Thursday as traders digested the minutes of the Federal Reserve’s December meeting ahead of weekly jobless data.

Penny stock under ₹10: After the announcement of capacity expansion and acquisition of new land, Vikas Lifecare shares witnessed strong buying interest in early morning deals on Thursday. Vikas Lifecare share price today opened upside and went on to touch an intraday high of ₹6.10 apiece levels on NSE, logging an intraday gain of around 18 per cent against its Wednesday close of ₹5.15 per share.

Sanjiv Bhasin, Director, IIFL Securities, says “I am amazed at the strength in midcaps. Yesterday, the midcap index was up. So, we are not complaining. All we are saying is that there will be a sectoral churn. Now it is time for banks to come back and if you are looking for an opportunity, then use the next few days’ weakness in metals as a proxy to the dollar to buy.” It is time to definitely tread with caution. I want you to drill the point home that there is no harm in the market consolidating at this juncture, it is only but healthy. Sanjiv Bhasin: Yes, the market consolidation is there and we had run up maybe irrationally and that has seen a little bit of a climax. We have corrected about 400-500 points on the Nifty, which is healthy for the market. I would expect this to end today. There is an up move of about 200-300 points which can come today or tomorrow.

AI) taking centre stage in all industries, ITC is focusing on technology to revolutionse its dairy and beverages supply chain in several ways. Sanjay Singal, COO, Dairy & Beverages, ITC Foods, says digital technologies, including AI-powered sensors and machine learning algorithms, can help monitor and maintain product quality throughout the production process.

By Lewis Jackson

Investing.com-- Most Asian currencies kept to a flat-to-low range on Thursday, while uncertainty over the Federal Reserve’s plans for interest rate cuts in 2024 saw the dollar rebound to a three-week high. 

Updated at 23:27 ET (04:27 GMT) with more details on China.

At the interbank foreign exchange, the rupee opened at 83.30 against the dollar and then touched a low of 83.32, registering a fall of just 2 paise over its previous close. On Wednesday, the rupee settled at 83.30 against the dollar. The rupee rose on Wednesday on flows from a Hong Kong-based bank amounting to USD 500 billion.

At some point American economic growth will disappoint expectations. For now, though, it appears to have ended 2023 much as it passed the previous few years, with yet another expansion that defied forecasts. Recent data suggest that the economy grew at an annualised pace of 2.5% or so in the final three months of the year, more than twice the median expectation of analysts at the start of the quarter.

NEW DELHI : The Centre is considering a proposal to provide interest-free loans to 15,000 tobacco farmers in Andhra Pradesh, impacted by cyclone Michaung, two officials aware of the matter said. The tenure of interest-free loans, varying between ₹10,000 and ₹20,000, will be six months and will support replanting of tobacco, the officials said. The commerce ministry is considering the proposal forwarded by the Tobacco Board and it is expected to be finalized soon, they added.

Investing.com-- Most Asian stocks fell on Thursday, extending declines after a weak start to the year as persistent doubts over the timing and scale of the Federal Reserve’s interest rate cuts saw investors lock-in more profits.

Investing.com-- China’s service sector grew past expectations in December, a private survey showed on Thursday, as continued stimulus measures helped push up local demand, while a rout in overseas orders also eased. 

Investing.com-- Oil prices rose slightly in Asian trade on Thursday, extending strong gains from the prior session as the shutdown of Libya’s biggest oilfield fueled more concerns over tight supplies.

NEW DELHI : India should explore alternatives to lithium-ion batteries for scaling up electric mobility, the government’s principal scientific advisor Ajay Kumar Sood said, amid a global scramble for critical minerals. Sood, who also chairs the Prime Minister’s Science, Technology, and Innovation Advisory Council specifically mentioned sodium-ion and aluminium air batteries as alternatives to lithium. Mining lithium is yet to take off in India although reserves found in Jammu and Kashmir and Rajasthan make India among the top 10 holders of the mineral.

metal companies were among the top losers Wednesday as fresh concerns over the economic prospects of China, one of the largest consumers of commodities like steel, aluminium, and copper among others, prompted traders to cut their bets. The Nifty Metal index fell 1.81% Wednesday. Among steel producers, JSW Steel, SAIL and Tata Steel slumped 3-4%.

Adidas is setting up its first and only global capacity centre (GCC) in Asia outside China in Chennai, to focus on 'key processes', sources aware of the developments told ET. The athletic footwear and apparel giant’s move reinforces the recent boom of multinationals investing in India in large numbers to set up their GCCs to harness the abundant software skills in the country.

Until the rise of online retail, you might have been forgiven for thinking that all apparel was shipped in burlap sacks. Today, garment spending can be made sustainable by using re-usable wooden hangers, paper shopping bags and recycled fibres. The only glimpse of plastic in many fashion stores is the electronic equipment at the checkout.

The Darien Gap, a 106km expanse of dense and dangerous jungle that straddles Panama and Colombia, has become the unlikely route for migrants seeking to get into the US illegally from Latin and Central America. Few roads to El Dorado could be more challenging. Last year, a New York Times reporter Julie Turkewitz and a photographer undertook the journey for a week.

By Lucia Mutikani

Amber Group company, has acquired 60% stake in Ascent Circuits Pvt. Ltd.