Manufacturing Financial News

Torrent Power on Friday announced the incorporation of its wholly-owned subsidiary Torrent Green Hydrogen Private Limited. In a regulatory filing, the company said Torrent Green Hydrogen Private Limited (TGHPL) was incorporated to carry on the business of manufacture, assemble, purchase, purify, store, transport, experiment with, the supply, trade and generally deal in hydrogen, its byproducts and/or its derivatives like ammonia, chemicals, compressed natural gas and mineral substances.

NEW DELHI : Toyota Kirloskar Motor, the Indian subsidiary of Toyota Motor Corp, advocates for boosting demand for electric powertrains in India by promoting the adoption of hybrid vehicles alongside electric vehicles (EVs). The automaker believes that by fostering demand for both hybrid EVs (HEVs) and battery EVs (BEVs) India can achieve the scale to develop a competitive local production of electrified technologies, a top company official told Mint on Friday.

Wonder Cement Ltd. has marked another milestone with its announcement to establish a state-of-the-art cement manufacturing facility at Tulsigam, Gujarat. Tracing back to 2012, the foundation stone of Wonder Cement's journey was laid with the Nimbahera plant in Rajasthan, having a cement capacity of 3 MTPA.

By Michael Erman and Patrick Wingrove

micro-OLED displays. The forthcoming Vision Pro boasts impressive twin micro-OLED displays, with Apple asserting that they will surpass the pixel count of a 4K TV for each eye. As per information from market research firm Omidia, reported by The Elec (via MacRumors), the Apple Vision Pro 2 is set to feature an RGB OLEDoS display upon its debut in 2027.

The toy sector is a small part of the local manufacturing industry India is now trying to build to take advantage of global supply chains shifting from China, generate jobs for its huge youth population and become self-reliant in manufacturing as well as an export powerhouse. From telecom to auto to defence to semiconductors, India is subsidising local manufacturing in more than a dozen sectors. According to a BCG study on global manufacturing shifts, India enjoys a strong advantage in direct manufacturing costs as an export platform.

By John Shiffman and Joshua Schneyer

₹6.87 per litre for the 2023-24 supply season that started in November, marking the highest rise in over five years. The hike, announced by the oil ministry on Friday, sets the new price at ₹56.28 per litre, an increase from the previous season's ₹49.41 per litre. The move is aimed at enhancing ethanol production for blending with petrol.

Indian economy is at a long-term secular megatrend where the relationship with the historical is being muddled with distinct secular drivers creating inflection that is of greater prominence for the current investment landscape. The risks to the macro are skewed towards the global slowdown, and geo-political mayhem that seed intermittent periods of volatility in the Indian equities market.

mutual funds in one category tend to deliver varied returns, yet some of the high-performing sectors in 2023 are undoubtedly PSU, infrastructure and manufacturing. This is quite evident with the performance shown by some of the popular sectoral or thematic funds falling in these categories. For instance, Aditya Birla Sun Life PSU Equity Fund gave a whopping 59 percent return in the past one year and Nippon India Power & Infra Fund gave a high return of 57.44 percent in one year ending Dec 27.

South Korea's defense minister said, amid suspicions that the North may use it as a new source of fissile materials for nuclear weapons. Concerns about North Korea's nuclear program deepened recently as the UN atomic agency and foreign experts said they've detected signs indicating that North Korea had begun operating its light-water reactor at the Yongbyon nuclear complex. IAEA Director General Rafael Grossi said last week that his agency had observed increased levels of activity at and near the reactor and since mid-October, a strong water outflow from its cooling system.

Innova Captab made a tepid debut on the exchanges on Friday, listing just 2% above the issue price. The lackluster debut performance fell way short of expectations, which highlights the potential risks associated with the highly competitive market, regulatory environment, and currency fluctuations. However, the stock jumped 20% post the listing to hit the upper circuit. Innova Captab has some core strengths, including a strong market position, robust financials, and strategic growth initiatives. «Given the uncertain outlook, a cautious approach is warranted, and investors may exit their position; however, those who want to hold it should maintain a stop loss at the issue price,» said Shivani Nayti, Head of Wealth, Swastika Investmart. The IPO of Innova Captab received tremendous response from investors with 55.26 times subscription at close. The issue received bids of 50,16,58,245 shares against the offered 90,78,010 shares. Innova Captab is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution, and marketing and exports. Its business includes CDMO business providing research, product development and manufacturing services to Indian pharmaceutical companies, a domestic branded generics business and an international branded generics business. The number of CDMO products sold by the company has grown by 131.43% from 1,066 in FY21 to 2,467 in FY23.

loan repayment. Viral Bhatt, Founder, Money Mantra said, “2023 saw significant market volatility, with geopolitical issues, inflation, and interest rate hikes causing major fluctuations. This highlighted the need for investment strategies that could adjust to changing circumstances, rather than rigid approaches based on past performance." Mohit Ralhan, CEO, TIW Capital added, “2023 turned out to be a year of positive surprises on the macro front.

₹3000 Crore, there will be an offer for sale of up to 3,200,000 Equity Shares having face value of ₹10 each. Also Read- Trident Techlabs share price lists at ₹98.15 on NSE SME- a stellar 180% premium over the issue price Of these 3,200,000 shares under the offer for sale, up to 2,700,000 Equity Shares are being offered by Waaree Sustainable Finance Private Limited (formerly known as Mahavir Thermoequip Private Limited), Promoter Selling Shareholder.

Gujarat has only about six per cent of India's geographical area and nearly five per cent of the population, the state has become an engine of the country's development with world-renowned firms coming here for business, according to officials. As per the official website of the Vibrant Gujarat Global Summit (VGGS), the state has over 200 industrial estates with close to 100 private industrial parks. The 10th edition of VGGS, the state's biennial investors' meet, is scheduled to be held next month in the capital Gandhinagar.

Hiren Ved, Director & CIO, Alchemy Capital, says: “ From Covid, 31st March 2020 to December 2023. We have gone up 3.25x as a broad market and in that Covid shutdown, Covid recovery, wars, interest rate, oil prices, you name everything. If you take the total aggregate profits of the top 500 companies in March 2020 was about Rs 3,63,000 crore, roughly around Rs 4 lakh crore. In the first half this year, we did Rs 6.5 lakh crore. If I annualise it – usually the second half is better in India – we are talking about Rs 13 lakh crores. So, aggregate profits of the top 500 companies have gone from Rs 4 lakh crore to Rs 13 lakh crore, that is 3.75x.” Ved also says: “Market cap growth in last three-and-a-half years reflects earnings power of India Inc.” What a fantastic year it has been. You have been investing for so many years, more than two-and-a-half decades now. I think 2023 in a sense has been a record year of all sorts. Hiren Ved: Yes, it does. 2022 was so tough, the smallcap index was down 14%, Nifty was up only 4% or 5%, so obviously when you come off a low base things look pretty good and the first quarter of this calendar year was not that great. We started Feb-March at a low and then from April we have seen a significant lift off. So, yes, I cannot complain. It has been a great year and I know there is this popular perception that people have that markets have run up very aggressively.

BSE Sensex delivered returns exceeding 18% over the course of the year. Notably, the broader markets displayed remarkable outperformance, with the Nifty Smallcap 100 index surging over 54% and the Nifty Midcap 100 recording a robust increase of more than 45% in 2023. As the financial landscape transitions into the new year, analysts at Standard Chartered have upgraded Indian equities to Overweight.

washing machines that fall within the reasonably priced range of Rs. 8000, meeting a variety of demands. Vijay Sales’ VISE brand delivers dependable washing machines while emphasising economy without sacrificing performance.

Keki Mistry, Former VC & CEO, HDFC, says “there is a massive potential to grow, not just for mortgages, but for every single financial service product. If you look at retail credit to GDP in India, we are at around 18%. If you look at credit card penetration in India, it is extremely low by global standards. So whichever way, whichever product you look at, the growth opportunities in the banking system are phenomenal.” Banking is a bit of a cyclical business, where do you think we are in this cycle? Are we past the peak or at least very close to the peak? What is your analysis? Keki Mistry: I do not think we are anywhere even remotely close to the peak. The growth opportunities which are there for the economy as a whole and the banking sector is obviously part of the economy is phenomenal. I do not think any country in the world today has the potential to grow the way India has the potential to grow. We have demonstrated that consecutively year after year.

NSE SME platform on Friday. The stock was listed at Rs 98 on NSE. Ahead of the listing, the company's shares were trading with a premium of Rs 31 in the unlisted market.

All the talk about autonomous automobility—self-driving cars—has me wondering: Why hasn’t the self-navigating concept been applied in other areas yet? I’ve been trying to master the guitar for 60 years, with no great success. I can’t read music, and I can’t play scales. My fingerpicking is oafish.