Manufacturing Financial News

“In our base case, we foresee the Dec '24 Nifty Target at 23,000. We assume the continuation of the political stability and consequent visibility on the policy continuity after the 2024 General Elections,” says Neeraj Chadawar, Head — Fundamental and Quantitative Research, Axis Securities. In an interview with ETMarkets, Chadawar said: “These bull and bear phases of the markets are driven by sentiments in the market. When sentiments are positive, the market will continue to do well. In a fear scenario, the market will fall,” Edited excerpts: We were cruising nicely but suddenly COVID, freight concerns, and potential geopolitical tension struck D-St. What is your take – is it profit booking or will any of the above factors have a material impact? Neeraj Chadawar: The year 2023 was interesting, not only for the Indian equity market but also on the global markets front. We commenced the year with restrained expectations and witnessed notable volatility in the initial months.

Wall Street started 2024 with a slump, giving back some of its powerful gains from the year before

Investment guru Warren Buffett topped The Chronicle of Philanthropy's annual list of the biggest charitable donations in 2023, with his $541.5 million gift to the Susan Thompson Buffett Foundation, named for his first wife, who died in 2004

Oil prices rose in the first session of the new year, boosted by potential disruption to Middle Eastern supply after the latest attack on a container ship in the Red Sea, and by Chinese demand hopes. Brent crude was up 49 cents, or 0.6%, to $77.53 a barrel at 1432 GMT. U.S.

Sensex fell 379.46 points to close at 71,892.48, while the Nifty 50 ended 76.10 points, or 0.35%, lower at 21,665.80. Nifty 50 formed a reasonable negative candle on the daily chart with minor lower shadow. The smaller range movement of the last 3-4 sessions has been broken on the lower side.

Motilal Oswal Financial Services Ltd. Also Read: Day trading guide for today: Six stocks to buy or sell on Wednesday —January 3 Here are key global market cues for Sensex today: Asian markets traded lower on Wednesday tracking overnight weakness on Wall Street indices. Japan’s markets are closed until January 4.

Adani Group stocks: The Supreme Court will pronounce judgement on a batch of petitions seeking court-monitored investigation into the allegations made by made by US-based firm Hindenburg Research against the Adani group of companies regarding stock market violations. Last January, Hindenburg had accused the conglomerate of “brazen stock manipulation and accounting fraud", allegations that the Adani group has vehemently denied. Hero MotoCorp: Sold 3,93,952 units of motorcycles and scooters in December, down 0.05% from 3,94,179 units dispatched in the year-ago period.

funding winter and an increase in the number of companies looking to raise cash, says Deepak Padaki, president of Infosys founder NR Narayana Murthy’s investment firm, Catamaran Ventures. The family office has backed around 27 private firms including Acko, Udaan, PaperBoat and Elon Musk’s SpaceX. In an interview with ET’s Beena Parmar, Padaki, who joined the company last August, also talks about its investment exits, deal sizes and corporate governance at startups. Edited excerpts: Private investments have slowed down. Where is growth coming from for Catamaran?

Markets opened the year on a cautious footing as mounting tensions in the Red Sea drove oil prices higher and weak Chinese data weighed on Asian shares. 

Quiver Quantitative — Rivian Automotive (NASDAQ:RIVN) faced a challenging close to 2023, missing fourth-quarter delivery targets and witnessing a sharp decline in its share value. The electric vehicle (EV) maker delivered 13,972 vehicles in the quarter, falling short of the anticipated 14,430 units. This underperformance, attributed to heightened competition and soaring interest rates in the U.S., prompted a nearly 10% drop in Rivian's stock.

Quiver Quantitative — Tesla (NASDAQ:TSLA) wrapped up 2023 with a record-setting fourth quarter, delivering 494,989 electric vehicles, yet it couldn't retain its position as the leading EV manufacturer, surpassed by China's BYD (SZ:002594). Despite achieving a remarkable annual production of 1.85 million units, Tesla fell short of CEO Elon Musk's goal of 2 million. In comparison, BYD, bolstered by Warren Buffett's backing, surpassed Tesla with 526,409 deliveries in the fourth quarter, reflecting a consumer shift towards more affordable EV options in an economy burdened by high interest rates.

For the first time in a decade, the number of installed Bitcoin ATMs worldwide fell in 2023.

Best refrigerator in India: Top 8 choices for modern kitchens As households navigate the options available, the choice of a washing machine becomes a pivotal decision. The LG 7kg top load washing machine, with its distinctive features and user-friendly design, stands out among its competitors. Its 7kg load capacity strikes an optimal balance, catering to the demands of contemporary lifestyles without compromising on efficiency.

Washing Machine against these competitors, we aim to highlight the distinctive qualities that set it apart, whether it be in terms of innovative technology, energy efficiency, or overall performance. In the following sections, we will get to know the key aspects of the LG 10kg Top Load Washing Machine and its counterparts, providing a comprehensive guide to assist you in making a well-informed decision for a laundry appliance that not only meets but exceeds your expectations.

A strong pick-up in private investment is yet to materialise, and the desirable overall investment rate of 35% is still “some distance away”, says TT Ram Mohan, member, Prime Minister’s Economic Advisory Council. In an interview with Priyansh Verma, Mohan says that India’s economy in FY25 will grow at a slower rate than the projected 7% in the current fiscal. “It may be appealing to talk of taking our growth rate to 8% but such talk will not take us anywhere,” he notes. On RBI’s monetary policy, Mohan says that India is not in a position to sacrifice growth in order to reach the 4% inflation target in the short-term.

medicines produced by small companies in India failed to meet quality standards compared with the national average of about 2%, says a government report on a recent survey. In the government's latest risk-based inspections of micro, small and medium enterprises (MSMEs), which have been on since December 2022, of the 271 samples analysed, 41 (15.1%) were declared to be not of standard quality (NSQ), says the report, which has been reviewed by ET. A person in the know said 30% of the MSME units inspected were issued a stop production order (SPO). «A strong correlation has been seen between the NSQ and MSME units,» the person said. The Central Drugs Standard Control Organisation (CDSCO), along with state drug inspectors, has been carrying out inspections as part of a nationwide crackdown on spurious and substandard drugs. At present, phase IV of risk-based inspections is on. «Monthly NSQ data shows repeat failures for a company with the same product, and same product with multiple companies month-on-month,» another person said. India's drug regulator had earlier pointed to an urgent need to review the good manufacturing practices (GMP) regulations and quality management systems being followed by pharmaceutical companies during the inspections. In August last year, health minister Mansukh Mandaviya had announced that companies with a turnover of '250 crore and more will have to implement the revised GMP within six months. Medium and small-scale enterprises with a turnover of less than '250 crore will have to implement it within a year.

power generation and distribution company Torrent Power is planning to raise up to Rs 650 crore through the issuance of non-convertible debentures (NCDs), as per officials aware of the development. The company is considering issuing the NCDs in tranches of two years, three years, and five years, market sources said. Torrent Power is expanding operations in the green energy segment and may use the proceeds to fund the same. Axis Bank and Barclays are likely the arrangers of the issue, they added.

The numbers represent both an opportunity and a challenge: India has 63 million micro, small and medium enterprises (MSMEs), contributing almost a third of the country’s GDP and half of its exports, with an equal spread between rural and urban areas, that are mostly short of credit. Given the tailwinds behind India’s economy, the MSME sector will keep growing in size, especially as it is formalized. However, for the sector to reach its true potential, qualitative growth is important.

₹190.6 crore from ₹168.8 crore in the previous financial year, India Ratings said in a report in June based on the company’s provisional financials. Aizant broadly operates four segments–clinical research, formulations, internal products, and contract manufacturing operations (CMO), which includes services from drug development to manufacturing.

₹3,390 per share resulting in a 1.44 per cent stake in the company. The Avenue Supermarts' promoter through his investment vehicles Derive Trading and Bright Star, already holds 30.7 per cent stake in the company. Along with Damani, SBI Mutual Fund (SBI MF) also acquired 2.25 lakh shares of VST Industries today, at an average price of ₹3,390 per share, according to BSE.

The elections year: 2024 is going to be the year of elections. An estimated number of over 4.1 billion people out of the total global population of over 8 billion are living in countries that will go to polls in 2024. According to Bloomberg, countries that contribute 80% of the world market cap and 60% of global GDP will be voting.