Manufacturing Financial News

Varun Beverages Ltd, the manufacturer, bottler and distributor of PepsiCo products, which helps the American company stay nimble by keeping it free of burdens that come with manufacturing and selling FMCG goods. Steady growth of Varun Beverages in recent years, despite Covid disruptions, has made it a darling of the markets.

Sanjiv Bhasin, Director, IIFL Securities, says “Commodities are back. Steel prices are going to go through the roof. Tata Steel is a clear outperformer. Before the budget, you will see Rs 170 on Tata Steel. Second pick would be Ashok Leyland. On a year-on-year, there has been a 9% increase in their sales in commercial vehicles. Tata Steel and Ashok Leyland are my two favourites. On the trading side, HDFC and Reliance are now the big heavyweights which will drive the index back to 21,500 and beyond.” I have been observing your commentary for almost a fortnight now, you are positive, but at the same time, you are nudging the investors. If you are sitting on very fat profits, do take some profit off the table as well. So, what is the positioning right now in the market? Sanjiv Bhasin: We have been cautioning you that the midcap rally was unsustainable, it needed a sharp correction. And you got a sharp correction of 3.5% on a single day and beyond. But that is where the feeling of missing out is tremendous. Mutual funds are sitting on cash and they try to time the market which is unfortunate and that is why they are now latching on to any correction.

Rajesh Agrawal, Additional Secretary at the Ministry of Commerce, highlighted this projection on Thursday, emphasizing the accelerating popularity of Indian made spirits worldwide. In 2022-23, the export value of Indian spirits reached USD 325 million, and with the escalating global demand, experts anticipate this figure to surpass USD 1 billion in the near future. Speaking on the subject, Agrawal stated, «Global market of alcoholic beverages stands today at USD 130 billion and Indian exports of these products was USD 325 million in 2022-23. As the global demand for Indian spirits is growing, we expect that in a few years, exports of Indian spirits will cross USD 1 billion.

Ford may have abandoned the plan to sell the Tamil Nadu plant. What could have caused the rethink? This change in strategy could be due to several reasons. Ford could be seeking a better, higher bid from other Indian auto majors.

₹426 to ₹448 per equity share of face value of ₹10. Innova Captab IPO lot size is 33 equity shares and in multiples of 33 equity shares thereafter.

Sandip Sabharwal, asksandipsabharwal.com, says “the overall small and midcap universe is richly valued. On top of that, there is risk in the markets and globally also we have seen significant run-ups in markets, huge amounts of record inflows into funds in recent weeks. This typically indicates that some short-term top will be formed, which should give up in my view 5% to 7% from the top.” What have you made of this temporary blip that we saw yesterday and now the recovery thereof or was it really a temporary blip or do you think we have seen the peak in yesterday's high for this year? Sandip Sabharwal: This year it is very unlikely because it is just seven-eight days to go.

Azad Engineering IPO: The initial public offering (IPO) of Azad Engineering Limited opened for subscription on 20th December 2023 and it will remain open for bidding till 22nd December 2023. This means Azad Engineering IPO will close today evening and investors have just one day in their hand to apply for the public issue. The aerospace components and turbines maker company has fixed Azad Engineering IPO price at ₹499 to ₹524 per equity share.

At a time when major economies globally are facing growth headwinds, India is in a sweet spot, and foreign investors are looking to India for their growth portfolios, says Rajesh Bhatia, chief investment officer at ITI Mutual Fund. The key industries beckoning foreign investors in India in 2024 include healthcare and insurance, fintech, renewable energy, automobiles, real estate and infrastructure, among many others, Bhatia said in an interview with ETMarkets. “These have all been on a hot streak in 2023, as foreign direct investment (FDI) policies have relaxed in recent years, and production-linked incentive (PLI) schemes have promoted industry-wise capacity building,” he said. Edited excerpts: How has the year 2023 largely been for the funds managed by you? If we look at the financial year, then FY23 was a flat year for the indices. However, it was also a “stock-pickers” market, meaning analysts who could diligently assess the prospects of individual companies and businesses, did better.

Mitshi India on December 21 informed the exchanges that it has accepted the resignation of Rinku Niket Patel from the post of Chief Financial Officer (CFO) in the company. The company also enclosed Patel's letter which was written on school notebook paper in its official statement.

equities. These institutional investors typically take a long-term view of target markets. Their investment horizon may also offer a perspective to investors concerned over the rising benchmark indices and whether the rally can be sustained in the medium to long term. SWFs typically search for a macro opportunity in an economy. A case in point is India’s electronic manufacturing services (EMS) sector.

government’s policies to promote domestic manufacturing and create an ecosystem for indigenous defence procurement as well as green energy have helped energise shares of public sector undertakings (PSUs). A rush to own PSU stocks that have reported earnings growth above the benchmark index growth has resulted in their rerating. The share of government-owned companies in India’s total market capitalisation rose to nearly 10% in November from a low of 5% in 2020.

Toyota Motor Co. said Wednesday it is recalling 1 million vehicles over a defect that could cause airbags not to deploy, increasing the risk of injury

Music is a deeply personal subject. There are those who swear The Beatles are the greatest band of all time, but others who would consider that claim utter malarkey. Some don’t care about music at all, so they don’t stay abreast of who is currently hot or not, perhaps because they are too busy to kick back and crank tunes.

As we near the conclusion of 2023, it's worth noting that December 21 has historically been a bullish day for the past 35 years, showcasing the highest daily gains across all major US indexes. The average rise on this day is as follows:

MUMBAI : A new and more scientific way of calculation has put India’s logistics cost much lower than before. How sharp is this drop? Mint explains the reduction, where India stands globally when it comes to the cost of logistics, and what more needs to be done. A study by the National Council for Applied Economic Research (NCAER) commissioned by the ministry of commerce and industry has put India’s logistics cost at 7.8% to 8.9% of GDP.

NEW DELHI : Mumbai-based Waaree Energies will invest up to $1 billion in setting up a solar module manufacturing plant in Texas, US. The facility, to be located in Brookshire, will have an initial capacity to manufacture 3 gigawatts (GW) of solar modules annually by the end of 2024.

Swan Energy Limited (SEL) has received a one-year extension from NCLT for the payment of second tranche due to the lenders of Reliance Naval and Engineering Limited (RNEL). As per the resolution plan, an amount of Rs. 312 crore is due to the lenders of RNEL on 23rd December 2023. However, as per recent order, NCLT has approved the extension of paying that amount for a period of one year i.e. 23rd December 2024 along with applicable interest. SEL has recently received approval from the NCLT-appointed monitoring committee of RNEL to constitute its own board, paving the way for a formal handover of management control.

Council of Economic Advisers Chair Jared Bernstein tells ‘FOX News Sunday’ that ‘real wages’ are rising and the job market is 'as tight as it’s ever been.'

Noting that India’s trade basket is sensitive to changes in world GDP and relative prices., it said: “Trade elasticities estimated for India’s exports during 1991-2022 show that for a percentage increase in world GDP, India’s exports have grown by 4.92%”. They also show that for a percentage increase in relative prices, exports have declined by 1.15%. Over the years, there has been a shift in the composition of export baskets from labour-intensive products (e.g., textiles) to capital-and skill-intensive ones (e.g., engineering goods and jewellery). As per the essay, the competitiveness of complex product exports has improved with time.

Tiago EV later discovered it to be a faulty car just days after taking delivery. The buyer, identified as Chitrabhanu Pathak, shared his unfortunate experience in a viral Twitter post. He tweeted, «Received a 'gift' from Tata Motors, an underprepared Tiago EV XZPLUS TECHLUX car.

A rapid test importer landed an estimated $2 billion in federal contracts in 2021 and 2022, despite giving regulators incomplete data about its product’s accuracy, Global News has found.