Manufacturing Financial News

Satish Menon, Executive Director of Geojit Financial Services underscores the exact nature of the Budget 2024 cannot be predicted at this stage. However, he expects new initiatives to boost manufacturing in India and government expenditure on Infra to flourish. In an interview with Mint, Menon also shares his views on the market and the sectors he is positive about. Edited excerpts: Our understanding is that the final budget will be after the general election, and the February Budget will act as a provisional one.

₹4.7 trillion, up 25% from the previous year. Though no firm estimates are available of the money spent overseas by Indians on weddings, since it’s the rich who go in for such lavish destination dos, we can assume a substantial amount could be captured locally if the ministry’s campaign succeeds. If ‘Make in India’ is about the creation of manufacturing jobs, ‘Wed in India’ could generate matrimonial jobs.

Azad Engineering will debut on the exchanges today. Ahead of the listing, the company's shares are trading with a premium of Rs 172 in the unlisted market. The company's shares are likely to list at a premium of 33%.

ALSO READ: Year 2024: What lies ahead for India's leading family-owned conglomerates There he learned trading, accounting, and other business skills. But, in 1958, he returned to India and settled in Bombay – now Mumbai. 1) In the 1950s, Dhirubhai began a business trading in spices and called his venture Reliance Commercial Corporation.

TOKYO (Reuters) -Japan's factory output fell 0.9% in November from the previous month, compared with the median market forecast for a 1.6% drop, data showed on Thursday.

Canada’s economy is still struggling to grow heading into the end of the year after contracting in the third quarter of 2023, according to Statistics Canada.

₹2,000 notes rang bells of demonetization some 7 years ago, as people rushed to change or deposit the same. Was it a measure to remove black money just before election time? Or was it a routine part of a ‘clean notes’ policy? Almost all the notes came back into the system and one could say all’s well that ends well. A nagging question is that if the policy of clean notes is pursued, will the ₹500 note see similar action next year? Shakespeare would say, ‘Give every man thy ear, but few thy voice.’ Ninth, just as news broke that India had lost the World Cup cricket final, a social media post went around claiming that India’s GDP had crossed the $4 trillion mark.

An economy produces two broad types of output: farm and non-farm. The non-farm sector comprises industry and services. As the economy develops, their expansion drives economic growth.

Vivek Joshi, Secretary, Department of Financial Services, Ministry of Finance. «The need of the hour is to think big and to think bold while ensuring that execution remains timely and robust. It is not easy but can be done and India is seeing this more frequently now,» Joshi said at a conclave organised by State Bank of India on Wednesday. Highlighting the government's focus on fostering capital expenditure and new investment in the economy, Joshi called for a pull in «one direction» from the three key players in capital expenditure and investment — private sector entrepreneurs, bankers, and the government. «Banks delivered very good performance in FY23 as also in first half of FY24, strengthening capital and other key ratios, gearing up to attain scale to finance multiple large value projects/capex and ambitious transition to clean/green energy and mobility,» SBI's chairman Dinesh Khara said. India's GDP growth surprised on the upside in Jul-Sep, clocking in at 7.6% versus the Reserve Bank of India's estimate of 6.5%.

According to officials aware of the move, the ministry of petroleum and natural gas had requested a general exception from provisions of the Domestically Manufactured Iron & Steel Products (DMI&SP) policy. The relaxation was to help speed up awarding of tenders floated by public sector undertakings such as Engineers India Ltd (EIL), Oil and Natural Gas Corporation (ONGC), Oil India Ltd (OIL) and Indian Oil Corporation Ltd (IOCL). «More evidence is required to say that steel items could not be domestically manufactured. There will be no general exception under DMI&SP to the companies,» a senior government official told ET. Under the DMI&SP policy, the Centre gives preference to domestically manufactured iron and steel products in procurement tenders floated by public sector undertakings.

By Kirsti Knolle

Attrition levels across India Inc dropped to 17% in 2023 from 19.7% in 2022 on the back of a subdued job market, macroeconomic headwinds, layoffs across sectors, and an uncertain future environment. As the tech industry faced a global downturn and employees hunkered down to hold on to their jobs, the biggest drop in attrition has been in the IT/ITeS sector, where employee turnover fell to 15.5% in 2023 from 21.3% in 2022, according to the Deloitte attrition survey shared exclusively with ET.

MUMBAI : Indian economy remained resilient amid global uncertainties, allowing the domestic banking sector to deliver strong performance in FY2023 and the first half of this financial year, said State Bank of India chairman Dinesh Khara. “The Indian economy has continued exhibiting robust resilience during the current year too, building upon the momentum initiated during 2022-23, notwithstanding the global turmoil as escalating multiple footprints of geopolitical tensions threaten to change the terms of trade, clocking growth rate of 7.7% in H1 of FY24, the highest among major economies in the world," said Khara, speaking at SBI’s banking and economics conclave.

Shri Balaji Valve Components IPO: The initial public offering (IPO) of small and medium-sized enterprises (SME) Shri Balaji Valve Components Limited received mixed response from investors on Wednesday, December 27, as the issue was subscribed 2.62 times on the first day of bidding. Shri Balaji Valve Components opened for subscription on December 27 and closes on Friday, December 29.

renewable energy at breakneck speed in 2023, a trend that if amplified will help Earth turn away from fossil fuels and prevent severe warming and its effects. Clean energy is often now the least expensive, explaining some of the growth. Nations also adopted policies that support renewables, some citing energy security concerns, according to the International Energy Agency. These factors countered high interest rates and persistent challenges in getting materials and components in many places.

Tesla Inc. (NASDAQ:TSLA) is gearing up to introduce an updated version of its highly successful Model Y from its Shanghai plant according to unnamed sources familiar with the matter. This move comes in response to heightened competition from domestic rivals, prompting an accelerated pace in product launches within the industry.

Hindalco Share Price Today: Shares of aluminum manufacturer Hindalco Industries were locked in at over four per cent upper circuit to hit 52-week high-mark of ₹607.65 apiece on the NSE after the company announced that it will acquire a 26 per cent stake in Seven Renewable Power Private Limited (SRPPL) on Wednesday, December 27. The Aditya Birla Group company said in a regulatory filing to the stock exchanges that it has signed shareholder’s agreement and power purchase agreement to acquire 26 per cent stake in SRPPL which would develop and operate captive power generation plant to supply 100 MW round-the-clock renewable energy to company’s smelter located in Odisha.

Rep. Andrew Clyde, R-Georgia, discusses his bill that would ban President Biden from mandating electric vehicles on 'The Bottom Line.' 

With just three trading days left in 2023, stocks on Wall Street are on track to end the year on an upbeat note with investors growing increasingly optimistic that the Federal Reserve is done with raising interest rates as inflation continues to cool.

Investing.com — U.S. stock futures traded largely flat Wednesday, with traders consolidating the year's strong gains in the final week of the year. SoftBank received a hefty windfall in the form of T-Mobile US shares, while Toyota detailed a record November for global sales. The Chinese economy showed signs of life, while the crude market continued to look at the turmoil in the Middle East.

Consumer advocate Ralph Nader profiles business leaders he actually likes in “The Rebellious CEO: 12 Leaders Who Did It Right.”