Manufacturing Financial News

The attacks on commercial vessels in the Red Sea by Yemen’s Houthi rebels have scared off some of the world’s top shipping companies and oil giants

The European Union is imposing sanctions on Russia over its war against Ukraine, targeting the lucrative diamonds industry as well as more than 140 officials, companies and organizations

Until recently, the Chinese manufacturer behind Elf Bar e-cigarettes was able to slip its products passed U.S. customs officials

Abhishek Basumallick, Founder & Chief Equity Advisor, Intelsense Capital, says: “In pure valuation terms, all the stocks or all businesses where you have earnings visibility have run up a lot. Valuations are not cheap by any means but even within that, we need to focus on quality businesses. This dialogue of whether we will have a largecap rally or a midcap rally or whatever cap rally – we need to take that out of our minds. Focus on good businesses irrespective of whether they are large cap, midcap, small cap.” Ching's Secret is an amazing brand. We all have tasted it sometimes. If it actually goes Tata Consumer's way, do you think it will really be an important addition because this category clearly is showing a lot of promise here in India? Whether the Ching's Secret deal materialises or not, if you look at what is happening with the Tata group after Chandra has taken over, is there a very specific focus on some of these large businesses that they have and consumer is one of them? There is a continuous process of coming out with new products, expanding the market, distribution etc. So Ching's Secret would actually be a good addition, I mean the products are excellent.

With the Bank of Japan being the last major central bank decision left for this year and the last important macro releases of the year to come this week, the USD/JPY is the featured currency pair of the week.

₹3,100 crore from the primary market. In addition to these, three small and medium enterprise (SME) IPOs will also be available for subscription, presenting investors with compelling investment opportunities in the market. Also Read: DOMS IPO allotment declared: GMP, how to check status as focus shifts to listing date Here are key details about the IPOs open today: The IPO of real estate construction company, Suraj Estate Developers, opened for public subscription on December 18 and will close on Wednesday, December 20.

Sailesh Raj Bhan, CIO, Nippon India Mutual Fund, says today with growth being back, PSU banks have the capital and capacity to lend which is not available or it is very tough to find in other pockets of the market, This is one space where valuations still are way reasonable. Most of them are one-time books and their ROEs have all started to improve and are now materially higher. So, some level of re-rating in this category does seem probable and certainly a better risk reward space within the available options today.” There was a time when PSU banks were bailed out. The government had to infuse capital because they were on the verge of an existential crisis. BOI has raised money via QIP route and J&K Bank has hit the market. So, the cycle has turned for PSU banks and these stocks are still trading way below their private sector counterparts. Do you think for PSU banks what started as a spark could ultimately be a very good rally for 2024 and beyond also? In public sector banks, the growth is still not there and it is likely to come in the next two or three years because the whole investment lending which will likely to happen and that growth is certainly going to be rewarded by markets because earlier the bigger issue was the banks have constraint for capital and we are not growing and hence any level of valuation was unjustified in the context of the market.

CK Venkataraman, managing director of Titan Co. Ltd, as Business Leader of the Year at The Economic Times Awards for Corporate Excellence 2023, recognising his contribution to keeping the nearly 40-year-old company young and buzzing. The State Bank of India, the country’s largest lender, bagged the coveted Company of the Year award in a unanimous vote for its spectacular turnaround from heavy losses a few years ago.

(Reuters) — Door maker Masonite International (NYSE:DOOR) said on Monday it will acquire PGT (NYSE:PGTI) Innovations, a manufacturer and supplier of windows and doors, for $3 billion in a bid to expand its business.

1) Happy Forgings IPO Dates: Happy Forgings IPO opens for subscription on Tuesday, December 19, and will close on Thursday, December 21. The IPO allotment is expected to be finalized on December 22.

Enphase Energy (NASDAQ:ENPH) announced today a significant workforce reduction of approximately 10%, affecting both contractors and employees, as part of its restructuring plan. This plan aims to enhance operational efficiencies, cut operating costs, and align the company's workforce and cost structure with the current market demands and strategic priorities. The company's stock is down 53% year-to-date.

(Reuters) — Global grains merchant Archer-Daniels-Midland said on Monday it will acquire Revela Foods, a Wisconsin-based developer and manufacturer of dairy flavor ingredients and solutions, to bolster the company's flavors portfolio.

NEW DELHI : The government in collaboration with the World Bank is working on a proposal to improve air conditioning technology—in anticipation of a spike in use over the next 20 years—to cut carbon emissions, said a senior government official. These super-efficient air conditioners will be 30-40% better than the 5-star ones available now.

NEW DELHI : The fourteenth round of free trade agreement (FTA) negotiations between India and the UK will start in January 2024, the ministry of commerce and industry said in an official statement on Monday. According to the government, India-UK free trade agreement talks completed 13 rounds of negotiations that took place from 18 September to 15 December. Negotiators of both the parties – India and UK – discussed complex issues, including goods, services, and investment, in person as well as virtually.

Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The transaction is worth about $14.9 billion when including the assumption of debt. The combined company will be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association.

The company allocated 21 lakh equity shares at Rs 100 per share to anchor investors. PGIM India Fund, BOFA Securities and Negen Undiscovered Value Fund among others were the buyers. The IPO is completely a fresh issue of 1 crore shares.

Amazon antenna on the Indian Ocean island of Mauritius made contact with both, but during a subsequent handoff to another station, only one vehicle checked in. Amazon scanned the sky behind the first satellite for a signal from the second one but heard silence. The incident threatened to kill the mood for employees who’d gathered to celebrate the launch at Postdoc Brewing, not far from Amazon’s Seattle-area space operation. The team had spent years building satellites from scratch and endured months of delays launching them. Now that they were aloft, Amazon needed to make contact to ensure their solar panels had deployed. If not, the batteries would run out and the satellites would fail, a major setback for the retail and cloud-computing giant, already a late entrant in the race to build a profitable business selling internet access from low-Earth orbit.

Biocon Biologics completes integration of Viatris' biosimilar business in 120 countries Biocon Biologics on Monday said it has completed integration of the acquired Viatris' biosimilar business in 120 countries, a year ahead of schedule. The company said over 10 emerging markets along with Japan, Australia and New Zealand have transitioned in this final phase of the integration of the biosimilars business acquired from Viatris. With the completion of this significant milestone, Biocon Biologics is now a fully integrated ‘lab to market’ biosimilars company committed to serving millions of patients across the globe. Around 70 emerging markets were integrated in July, the North America business transitioned in September and the European business in November. Biocon Biologics has made several key leadership appointments, built new capabilities and infrastructure from the ground up and set up dedicated teams to address the growing needs of patients and customers through self-led and partner or distributor-led commercial models. Biocon Biologics will now have a commercial footprint across 120 countries with a direct presence in the US, Canada, Europe and 9 key emerging market countries, namely India, UAE, Saudi Arabia, Morocco, South Africa, Brazil, Malaysia, Thailand, and the Philippines.

Meanwhile, China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery. Xu Tianchen, senior economist at the Economist Intelligence Unit, said the data would be alarming for policymakers and cited three main factors behind it: falling global energy prices, the fading of the winter travel boom and a chronic supply glut. Early this month, rating agency Moody's downgraded the outlook for China's economy from 'stable' to 'negative' owing to persistently lower medium-term economic growth and the ongoing downsizing of the property sector in the country. China is struggling with grave portends for its economy which has been for long the toast of the world. China’s economy will slow next year, with annual growth falling to 4.5% from 5.2% this year despite a recent recovery spurred by investments in factories and construction and in demand for services, the World Bank said in a report last week. While it was briefly seen to be emerging strongly out of the Zero-Covid policies, the hope was short lived. The ongoing real estate crisis has dampened the consumer spirit, huge debt is weighing down the economy, foreign investors are losing confidence and unemployment and deflation are dogging the world's second-largest economy. Add to that President Xi Jinping's crackdown on private business. While China is not heading towards a collapse, its miracle growth is now a thing of the past.

Asian Development Bank for two loans of $250 million each essentially for the country’s infrastructure sector. One of the ADB loans is for a project that supports India’s National Industrial Corridor Development programme and the other will part-finance the construction of the 82-kilometer Delhi-Meerut Regional Rapid Transit System (RRTS) corridor, according to the statements by the multilateral institution. The pacts were signed by Juhi Mukherjee, joint secretary in the finance ministry and Hoe Yun Jeong, deputy country director at ADB. Earlier, ADB had approved a $1.049 billion Multi-tranche Financing Facility (MFF) to support the construction of RRTS. The project will help the RRTS improve urban mobility, and women and the differently abled will benefit from its economic impact, Mukherjee said. Passing through the populated sections of the national capital region, the 82-km corridor is aimed at providing fast, safe, and high-capacity commuter transit services, expanding economic and job opportunities by cutting travel time from three-four hours now to about one hour, according to one of the statements. The other loan of $250 million will continue support to industrial corridor development to make manufacturing more competitive, bolster national supply chains and links with regional and global value chains, and create more and better jobs, according to another ADB statement. This loan builds on another financing of $250 million approved by the ADB in October 2021 that helped strengthen policy frameworks for India’s National Industrial Corridor Development Programme (NICDP) and develop 11 industrial corridors, it added. The latest loan will help in the integration of industrial corridors with transport,

Investing.com — U.S. futures largely edged higher Monday at the start of the final full trading week of the year, continuing the recent rally with more Fed policymakers due to speak.