Manufacturing Financial News

BSE website. Manoj Ceramic IPO registrar is Purva Sharegistry India Pvt Ltd. Applicants can find out if they have been issued shares and the number of shares allotted through the basis of allotment.

₹179.65 apiece on the BSE. The commercial vehicle (CV) manufacturer Ashok Leyland registered a 10% drop in total sales during December 2023 at 16,324 units as against 18,138 vehicles sold in December 2022.

The hottest technology of 2023 had a busy last few weeks of the year. On November 28th Abu Dhabi launched a new state-backed artificial-intelligence firm, AI71, that will commercialise its leading “large language model" (LLM), Falcon. On December 11th Mistral, a seven-month-old French model-builder, announced a blockbuster $400m funding round, which insiders say will value the firm at over $2bn.

Vodafone Idea Ltd’s stock rose to a 52-week high on New Year’s Day to ₹18.42, amid news reports claiming that the government could sell its 33% stake in Vodafone Idea to tech-billionaire Elon Musk and his satellite internet venture Starlink collaborating with the carrier. Securities and Exchange Board of India (Sebi) sought a clarification from India’s third-largest telecom service provider on the development. Though the stock saw huge delivery based buying over the two sessions , the Vodafone Idea futures contract didn’t witness much of a change in positions, indicating that traders in the futures segment might not have been as euphoric as those in the cash segment.

₹11.5 lakh in 2023, 40% more than ₹8.2 lakh in 2019, and 9.5% higher than ₹10.5 lakh in 2022. Apart from higher production costs due to costlier inputs and mandatory safety tech, a higher share of costlier SUVs and customer preference for top models have also been driving up average purchase prices in 2023. A total of 287,904 passenger vehicles were dispatched from factories to dealerships in December, Srivastava said, the highest ever for the month, crossing the previous record of 276,000 units in December 2020.

Bharti Airtel Services, a wholly-owned subsidiary of Bharti Airtel, has entered into an agreement for the acquisition of 49.45 lakh shares or 97.1 per cent stake in Beetel Teletech, another Bharti Group company, according to a filing. Pegging the cost of acquisition at Rs 669 crore, the filing said this acquisition is a part of the company's strategy to enable indigenisation initiatives within its own ecosystem of telecom products in line with the Government's policy of 'Make In India' and add distribution and service capabilities (including system integration) largely for the enterprise business.

Microsoft India president Puneet Chandok has set for himself, to accelerate the Seattle-headquartered technology giant's cloud and artificial intelligence push in the country. “The plan in the next 90 days is to do 100 boardroom conversations with top enterprises in India and demystify AI,” Chandok told ET in his first media interview after joining the company in September. He added that he had already met 100 customers over the last 100 days.

The Nifty50 continues to trade at 19.8 times its 1-year forward P/E based on the consensus earnings. On a 10-year basis, the index is still trading 10% above its 10-year mean valuation, says HSBC Mutual Fund. Valuations in the midcap and smallcap space are much more elevated.

Tata Motors, a leading global automobile manufacturer, Monday reported that its total domestic sales increased by 4% to 76,138 units in December 2023 The Mumbai-based automaker dispatched 72,997 units to its dealers in December 2022. The company has reported a 9% increase in its total Passenger Vehicles (PV) sales, including electric vehicles, in the domestic market at 43,470 units in December 2023 as compared to 40,043 units in December 2022.

Shri Balaji Valve Components IPO allotment finalised: Latest GMP, here's how to check allotment status The IPO exclusively involves a fresh issue of up to 98,47,000 equity shares, each with a face value of ₹10, as outlined in the draft red herring prospectus (DRHP) filed on December 27. According to the draft documents, the funds raised from the offering will be allocated by the company for the expansion of its current manufacturing facility and the establishment of a new manufacturing facility in Maharashtra. Also read: Kay Cee Energy & Infra IPO: Check GMP, subscription status on day 3, other key details The generated funds will also be allocated to meet working capital needs and support general corporate objectives.

TEXMACO Rail & Engineering Ltd., a leading railway infrastructure and engineering sectors, has announced the appointment of Sudipta Mukherjee as its new Managing Director. Mukherjee’s appointment is effective from January 1 (today), who previously served as the Deputy Managing Director in the company. He has played a pivotal role in the company's success and growth through his strategic acumen and dedication, the company said.

Diffusion Engineers has filed preliminary papers with the capital markets regulator Sebi to raise funds through an initial share sale. The initial public offering (IPO) is purely a fresh issue of up to 98,47,000 equity shares with a face value of Rs 10 each, according to the draft red herring prospectus (DRHP) filed on December 27.

₹2.1 trillion worth of new projects were announced across the country in the December-ended quarter, up nearly 15% from the preceding three-month period, showed data from the project-tracking database of the Centre for Monitoring Indian Economy (CMIE). While capital expenditure proposals were still sharply weaker than the year-ago period, when projects worth ₹9.5 trillion were announced, the latest figure marks a sharp turnaround after two quarters of precipitous decline. The data is provisional, and may be updated later.

₹1,665 apiece on the BSE after media reports said that the company aims to deliver 2,000 electric buses in fiscal 2023-24. The leading manufacturer specialising in auto systems and buses has also outlined plans to introduce an additional 3,000 electric buses by the first half of the upcoming year, demonstrating a determined push towards a cleaner and greener future for public transportation, according to a report by CNBC-TV18. Also Read: Bajaj Auto December sales grow 16% YoY to 3.26 lakh units; two-wheeler sales up 15% Stock exchanges BSE and NSE have asked for clarifications regarding these plans from JBM Auto.

Hyundai Motor India achieved the highest-ever domestic sales in the calendar year 2023, surpassing the six lakh sales milestone. The automaker recorded sales of 6,02,111 units, registering a 9 per cent increase over the previous year's 5,52,511 units. Additionally, Hyundai Motor India elevated its export performance by 10 per cent, shipping 1,63,675 units in 2023 compared to 1,48,300 units in the previous year. In December 2023, Hyundai Motor India achieved total sales of 56,450 units, comprising 42,750 units in domestic sales and 13,700 units in exports. «HMIL has not just kept pace but surpassed industry growth (estimated at around 8.2%), a testament to customers choosing brand Hyundai as their preferred mobility brand,» said Tarun Garg, Chief Operating Officer, Hyundai Motor India. «Also, in 2023, we proactively expanded our annual production capacity by 50,000 units to meet the increasing demand from our customers.» The automaker presently operates from 1,366 sales points and 1,548 service points across India. The model line-up consists of 13 car models across segments: Grand i10 NIOS, i20, i20 N-Line, AURA, EXTER, VENUE, VENUE N-Line, VERNA, CRETA, ALCAZAR, TUCSON, KONA Electric and all-electric SUV IONIQ 5. Its fully integrated, state-of-the-art manufacturing plant near Chennai boasts advanced production, quality, and testing capabilities.

Shri Balaji Valve Components IPO is an SME IPO which opened for subscription on December 27, 2023, and concluded on December 29, 2023. Shri Balaji Valve Components IPO allotment date is fixed on Monday, January 1, 2024. The shares will list on BSE SME, with a tentative listing date fixed on January 3.

Tesla Model X was recently spotted in Bengaluru's traffic, creating a buzz among social media users, who engaged in a guessing game as to whether the vehicle was privately owned or if the Elon Musk-led company was conducting test drives in Bengaluru. The ultra-red Tesla SUV was reportedly spotted in Bengaluru's Minsk Square area near the Cubbon Park metro station.

The year 2023 has been marked by major global economic shocks such as the Russian-Ukraine war, NATO tension, stressed US-China relations, energy and food crisis, cyber-attacks, and climate risk. These shocks have led to significant geo-political reorientation. It has also resulted in an impending economic downturn in western economies, placing the global economy in a very vulnerable position. COVID-19 is another polarizing issue with many economic and social ramifications. India’s GDP and economic growth rate have also been adversely affected by these global tensions.

Hero MotoCorp, known for its budget-friendly commuter and mid-range motorcycles, is making a significant shift towards the premium, sporty motorcycle segments. The company has recently teased its upcoming release, a 440cc motorcycle, scheduled for launch on January 22.

BSE SME, with a tentative listing date fixed on January 3. Investors can check Manoj Ceramic IPO allotment status on the IPO registrar’s website as well as on the BSE website. Also Read: Manoj Ceramic IPO: A look at GMP, subscription status and other details Manoj Ceramic IPO registrar is Purva Sharegistry India Pvt Ltd.

Cipla, Torrent Pharma, Eris Lifesciences, and JB Chemicals, among others) have increased their chronic presence, focused on new product launches, and entered into new therapies. API (Active Pharmaceutical Ingredient) companies are undergoing capex, which will aid in further top-line growth; a healthy product mix and softening input costs are likely to sustain higher operating margins of ~20-30% in CY24.