Manufacturing Financial News

Nestle India, Pearl Global Industries, and Indian Link Chain Manufacturers will trade ex-split, while Allcargo Logistics and M Lakhamsi Industries will trade ex-bonus this week. Shares of Indian Link Chain Manufacturers (Rs 100 to Rs 10) on Wednesday, January 3, while Nestle India ( Rs 10 to Rs 1), 7NR Retail (Rs 1 to Rs 10), and Pearl Global Industries (Rs 10 to Rs 5) on Friday, January 5, will ex-split. A stock split is usually done to increase the liquidity of the stock in the market. On the ex-split date, investors who are holding the stock until the record date will receive the new shares in demat accounts, and the stock price will be adjusted according to the split ratio. Whereas, the record date for the right issue of LA TIM Metal & Industries is fixed on Tuesday, 2nd January 2024. A rights issue is a prevalent form of corporate action where the company invites existing shareholders to buy additional shares in the company at a discounted price within the said period (the cut-off date). However, as existing shareholders of the company, you do not have an obligation to buy additional shares.

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India firmed up defence procurement worth over Rs 3.50 lakh crore in 2023 as the lingering border standoff with China in eastern Ladakh as well as the crises and conflicts around the world kept the military focused on ways to enhance the country's overall combat prowess to firmly deal with any security challenges. India also went on an overdrive in expanding its military engagement with like-minded countries in its neighbourhood and beyond in the face of China's relentless attempts to become a regional hegemon and establish its primacy in South Asia.

₹3,910 crore and have garnered subscriptions between 12 and 173 times. 2023 has been the year of initial public offerings (IPOs), with 173 small and medium-sized enterprises (SMEs) and 52 mainboard listings to date, along with some outstanding debuts and subscriptions from both. “I believe that 2024 will continue to see a great number of IPOs—possibly even better than 2023—given the expectation of GDP growth, the India manufacturing story, and the feeling that the current ruling dispensation will return to power based on the recent state elections’ performance," said Venkatraghavan S., Managing Director, Investment Banking, at Equirus.

Prime Minister Narendra Modi on Saturday flagged off the Jalna-Mumbai Vande Bharat Express connecting the Marathwada city of Jalna with Maharashtra's capital. The train, flagged off by Modi virtually during a function in Ayodhya, started its inaugural run from Jalna, around 400 km from Mumbai, at 12.12 pm, and reached the Chhatrapati Shivaji Maharaj Terminus (CSTM) here at 6.55 pm. It was among the six Vande Bharat Express trains flagged off by Modi.

Also Read: FPIs pump ₹2.37 lakh crore in Indian markets this year; December clocks highest inflows at ₹66,135 crore Indian Link Chain Manufactures Ltd will undergo a stock split from ₹100 to ₹10. Shares will trade ex-split on January 3. Nestle India will undergo a stock split from ₹10 to ₹1.

President Biden’s climate policy contradictions keep piling up. Witness the family feud that blew up late last week between the renewables lobby and green groups over the Biden Administration’s new proposed rules for the Inflation Reduction Act clean hydrogen tax credit. The IRA created a new tax credit for producing clean hydrogen from low-emissions sources.

Gujarat became the first state to introduce its semiconductor policy in 2022, with several companies from Japan, South Korea, New Delhi and Bengaluru expressing interest in investing in the sector during events organised ahead of the upcoming Vibrant Gujarat Global Summit 2024, officials said. As per a government release, the state's semiconductor policy aims to play a significant role in the global realignment of supply chains in the strategic sector and raise India's economic position.

India’s еconomic ascеnt prеsеnts еxciting opportunitiеs for invеstors. Oncе rеliant on forеign manufacturing and tеchnology, thе country is еxpеriеncing a rеmarkablе transformation, spеarhеadеd by advancеmеnts in domеstic capabilitiеs and a thriving еntrеprеnеurial spirit. This articlе еxplorеs two kеy sеctors poisеd for robust growth: manufacturing and tеchnology.

₹1.21 lakh crore in 2022, foreign portfolio investors (FPIs) returned as buyers in 2023, buying Indian equities worth ₹1.65 lakh crore. This was the highest FPI inflow since 2020 when buying stood at ₹1.7 lakh crore. This came on the back of improving macros, markets on a record-high streak, declining inflation, hopes of a rate cut in 2024, and the possibility of the incumbent government returning for a third term in the general elections next year.

Penny stocks are considered risky and speculative, but they also offer tremendous opportunities for investors. Some of the penny stocks are backed by exceptional promoters who are owners with high stakes and have unwavering confidence with a track record of success. The promoters of these companies signify not just financial muscle, but also quality management, a clear vision, and unwavering commitment to shareholder value.

Waaree Energies, on Friday, filed its draft red herring prospectus (DRHP) with market regulator Sebi to raise ₹3,000 crore. The company will issue 3.2 million shares, with major shareholder Waaree Sustainable Finance (formerly known as Mahavir Thermoequip) selling up to 2.7 million shares.

The coveted and highly specialized software tool, known by its initials of OPC, is used in the design of many microchips and is crucial to the design of advanced chips.

By Nate Raymond

It was a tumultuous 2023 for the Chinese economy

South Korea’s top court has ordered a third Japanese company to compensate some of its former wartime Korean employees for forced labor

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Samsung for the first year — FY21 — of the smartphone production-linked incentive (PLI) scheme, officials told ET. The approval, granted after over two years, came after the smartphone major revised its claims as the government had found some discrepancies in the original paperwork. «The claims for the first year have been approved and the amount is likely to be disbursed in a couple of weeks,» an official said. The approved amount though is nearly half of the ₹900 crore that Samsung had initially filed for in August 2021, claiming to have achieved the target of ₹15,000 crore worth of incremental sales for FY21. To claim the subsidy, Samsung had to produce handsets with a factory cost of more than $200 (roughly ₹15,000). However, the ministry of electronics and information technology (Meity) found some discrepancies in the company's invoices and held back the incentives. While Samsung was the only company to have achieved the production targets in the first year of the PLI scheme, it is the last one to get the incentives due to the discrepancies and subsequent checks.

In an economic review for the first half of FY24, the ministry forecast continued growth in manufacturing, upbeat sentiments in the services sector, sustained rise in consumption expenditure buoyed by resilient urban and catching-up rural demand, and much-improved current account balance. It also expected a further moderation in headline retail inflation despite «temporary disruptions» caused by volatile food prices. Retail inflation hit a three-month high of 5.55% in November, driven partly by dearer vegetables and base effect, but remained within the central bank's 2-6% target. The review also flagged downside risks to growth arising from «smouldering inflationary pressures in advanced countries» and supply-chain disruptions re-emerging from persistent geopolitical stress.

Tata Steel, on Friday said it will invest Rs 1,787 crore for setting up a 3-lakh-tonnes-per-annum manufacturing facility in Jharkhand's Jamshedpur. The facility, an expansion project, is scheduled for commissioning in 2026, and is likely to generate about 600 direct and indirect employment opportunities, TCIL said.

defence synergy and trade links in 2024 and remain steadfast in securing a free and open Indo-Pacific region. In a statement issued on Thursday, Mukesh Aghi, the President and CEO of the US-India Partnership Forum (USISPF) also said that as the world moves into 2024, now the fastest-growing major economy and the most populous nation in the world has a «bolder vision.