Manufacturing Financial News

MUMBAI : The objective of aligning India’s inflation with the 4% target on a sustainable basis is far from assured, according to an article in the Reserve Bank of India (RBI)’s December bulletin. It also cautioned against, what it called a case of hypermetropia or far-sightedness, among some of its stakeholders. In the article titled State of the Economy, it said that softer retail inflation figures for September and October 2023, along with a prolonged pause in the monetary policy stance, resulted in an irrational long-sightedness.

NEW DELHI : Vedanta Group company Runaya is planning to enter the mine tailings treatment space, as it seeks to expand its portfolio, Naivedya Agarwal, co-founder and CEO, said. Tailings are basically the leftovers or by-product of the mining process, which need to be managed or disposed after the valuable mineral is separated from the ore. Runaya has already ventured into recovery of materials from zinc and started a facility for smelting zinc waste to recover minerals like nickel, cadmium, cobalt, lithium, Agarwal said in an interview.

NEW DELHI : India’s auto parts makers generated a revenue of ₹2.98 trillion ($36.1 billion) in the first half this fiscal year, driven by robust demand from automotive original equipment manufacturers (OEMs) and a slight increase in exports despite high inflation in the western markets. The H1FY24 turnover marked a 12.6% increase from the same period a year earlier. Data released by Automotive Component Manufacturers Association of India (ACMA), the country’s apex body of auto parts makers, said that exports of auto components grew marginally by 2.7% to $10.4 billion ( ₹85,870 crore), while imports rose 3.6% to $10.6 billion ( ₹87,420 crore).

cargo across all transportation modes-land, rail, sea and air-through a single app. More than 700 companies have signed up on the app to be launched soon by the government. «A track and trace app is being developed wherein we will be able to track the movement of trucks, trains and air couriers.

It’s tempting to dismiss the outcome of COP28, the recent United Nations climate change conference in the United Arab Emirates, as mere verbiage, especially the “historic” UAE Consensus about transitioning away from fossil fuels. After all, this is the 28th such conference and the previous ones all pretty much came to nothing. On a chart showing the steady rise in global CO2emissions since 1950 you cannot spot when the 1997 Kyoto Protocol entered into force (2002), with its supposedly historic language binding developed countries to cap their CO2 emissions at five per cent below 1990 levels by 2012, which they didn’t do. The 2015 Paris Agreement also contained “historic” language that bound countries to further deep emission reductions. Yet the COP28 declaration begins with an admission that the parties are not on track for compliance.

Ottawa rolled out its timeline for the full transition to electric vehicles on Tuesday, but some industry watchers are concerned the path to get there is not realistic.

import of substandard car and bike wheels come Friday as it implements the quality control order for automobile rims. The move comes with riders as some manufacturers are being allowed to import limited quantities of non-Bureau of Indian Standards (BIS) compliant wheel rims after the latest amendment to the quality control order.

anchor investors ahead of its initial public offer (IPO), which opens on Thursday. The three-day issue will close on December 26, Tuesday, as markets will remain shut for trading on December 25, Monday, on account of Christmas. The anchor investors were allotted 3,816,963 shares to 17 investors, which included the likes of ICICI Prudential Pharma Healthcare and Diagnostics (PHD) Fund, Kotak Mahindra Trustee Co Ltd A/C Kotak Healthcare Fund, 360 One Special Opportunities Fund Series-9, Bandhan Smallcap Fund, Aditya Birla Sun Life Company, among others. As per the filing to the exchanges, six domestic mutual funds have applied through a total of eight schemes, accounting for 44.88% of the anchor investor portion. The amount raised through them is over Rs 76.74 crore, the filing said. About Innova Captab: Innova Captab is an integrated pharmaceutical company in India with a presence across the pharmaceutical value chain, including research and development, manufacturing, drug distribution and marketing, and exports. Innova Captab IPO Structure: The price band of this public issue is fixed at Rs 426-448, and at the upper end, the company plans to raise Rs 570 crore. Investors can bid for 33 shares in one lot and in multiples thereafter. About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors. Innova Captab IPO GMP today: According to market analysts, the current GMP of Innova Captab is Rs 210 in the unlisted market.

Considering the upper price band of Rs 660, the stock is likely to get a robust premium of 75% over the issue price. However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly. «Given the positive secondary market environment and ample liquidity along with strong subscription demand, Inox India is expected to see a solid listing premium over and above 75% gain,» said Prashanth Tapse of Mehta Equities. Also Read: DOMS Industries shares soar nearly 80% over IPO price. Should investors book profits? Despite valuations being fully priced into all near-term growth, analysts believe the solid listing is justified on the back of the company's strategic position in the niche market with global footprint. «With strong fundamentals and a growing market, Inox India has potential for long-term value creation,» said Shivani Nyati of Swastika Investmart. The IPO of Inox India was subscribed 61 times at close, driven by strong interest from qualified institutional buyers.

UK have initiated the first phase of trials for a revolutionary non-hormonal male birth control pill. YCT-529: A hormone-free innovation

Bain Capital-backed Emcure Pharmaceuticals has filed fresh preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO). The IPO comprises a fresh issuance of equity shares worth Rs 800 crore and an Offer of Sale (OFS) of 1.36 crore equity shares by promoters and existing shareholders, according to the fresh draft red herring prospectus filed last week.

high inflation is holding back consumer discretionary spending and corporate investments as well, hence the expectations of lowering of interest rates may be unrealistic. «Projections indicate that inflation will go up further from the September October 2023 average of 4.9% before it can come down. The objective of aligning inflation with the target on a durable basis is far from assured,» RBI researchers said in the state of the economy report. There have been clamours for interest rate cuts after RBI paused for five times in a row and following softer inflation prints for September and October.

₹6,000 and goes up to ₹25 lakh a piece, depending on the size and craftsmanship. “But many artists now use cheaper raw materials to cut costs. There is no monitoring or quality check to tell a fake from an original.

₹1,380, up 7% on Wednesday. BevCo holds franchise rights from PepsiCo Inc. in South Africa, Lesotho and Eswatini, and distribution rights for Namibia and Botswana.

₹1,400 apiece on the National Stock Exchange (NSE), a 77% premium over its issue price. It hit an intraday high of ₹1,434.25 before settling at ₹1,326.05, down almost 7% on the NSE. India Shelter listed at ₹620 per share on the NSE, a 25% premium over its issue price.

Also Read: DOMS IPO: Share listing date today. GMP, experts see up to 65% listing gain Overall, the IPO garnered bids for 5,63,65,650 shares on the second day as against the total offering of 79,00,000 shares, resulting in an overall subscription rate of 7.13 times, according to BSE data. Through the issue, the company aims to raise ₹100 crore via the issuance of fresh equity shares.

Jyoti CNC Automation said on Wednesday that it has received markets regulator Securities and Exchange Board of India (SEBI) approval to raise funds through initial public offering (IPO). The company had filed its Draft Red Herring Prospectus (DRHP) with market regulator in September 2023. The company’s IPO will comprise a fresh issue of ₹1000 crore.

Aurobindo Pharma were locked in at over four per cent upper circuit at ₹1,081.45 apiece on the BSE, hitting its new 52-week high mark on Wednesday, December 20. The surge in share price came after the US Food and Drug Administration (FDA) had conducted an inspection at a subsidiary of the pharma major earlier today.

Investing.com — U.S. futures slipped lower Wednesday, as investors paused for breath after a multi-week rally based on optimism of interest rate cuts from the Federal Reserve next year.

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