Manufacturing Financial News

Building China-free supply chains is tough. Sometimes it means dealing with lizards that don’t have legs and sands that are radioactive. That is the case with making rare-earth magnets—a powerful piece of tech that is as crucial to jet fighters and wind turbines as it is to smartphones and electric cars.

The Pradhan Mantri Mudra Yojana (PMMY) is one of the flagship schemes of the Union government to encourage self-employment. Under PMMY, collateral-free institutional credit up to ₹10 lakh is provided by Member Lending Institutions (MLIs) i.e. Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs). 

Prateek Pant, Chief Business Officer of WhiteOak Capital Asset Management, does not expect major announcements in this budget. The government will likely maintain a path of policy, continuity focusing on higher capex growth, he said in an interview with MintGenie. Infra, housing, real estate, and home improvement sectors are likely to be in focus in this upcoming budget.

This series, the Class of 2024, aims to simplify the way to navigate the world beyond the campus by talking about the sectors with opportunities, ways to use online platforms and preparing resumes, among other things. This is the third of the 10-part series, offering a look into how the job market is shaping up in the immediate future. It is no secret that the idea of going to college for most people is to find a job. But that is a vague goal. Your aim becomes sharper only when you narrow the search by using parameters such as skill sets, requirements, remuneration and growth prospects, among others. The first step is to look at which sector suits you the most. Let us start with technology as it has over the past few decades fuelled the dreams of millions of youngsters. This year, though, the talent demand in the sector has been muted when compared with previous years.

Texmaco Rail and Engineering jumped over 10% to hit a 52-week high of Rs 188.80 on the NSE after the company informed the exchanges about receiving an order for manufacturing and supply of 3,400 BOXNS wagons worth Rs 1,374.41 crore. The price action was supported by strong volume action with over 1.09 crore shares changing hands on the NSE around 10:10 am. Today's rally in Texmaco stock is its fourth in a row witnessing a rally for the fourth straight session. The multibagger railway counter has given returns of over 220% in the last 12 months, significantly outperforming the Nifty which has given returns of 15% during this time.

IPO) of Happy Forgings will open for subscription on December 19. The issue closes on December 21.

Cost of Living LIVE Updates December 15: The cost of living is the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.

Texmaco Rail & Engineering, the engineering and infrastructure company, rallied 10.7% in Friday's early trade to reach an all-time high of ₹188.80 apiece, driven by the company's new order win. The Ministry of Railways has awarded an order to the company for the manufacturing and supply of 3,400 BOXNS waggons valued at ₹1,374.41 crore, the company informed through an exchange filing on Thursday. Also Read: Sensex surging: Will this be the new normal? The company operates in the business of manufacturing rolling stock, including wagons, coaches, EMUs, loco shells and parts, hydro mechanical equipment, steel castings, rail EPC, bridges, and other steel structures.

Investing.com-- Most Asian currencies steadied after a recent rally on Friday, while the dollar languished at four-month lows as traders positioned for deeper-than-expected interest rate cuts by the Federal Reserve in 2024.

Nilesh Shah, MD, Kotak AMC, says “India today is trading at a premium valuation to others as the Spider Man movie said “with great power comes great responsibilities.” With higher valuation, comes higher expectations. Our headwind will be to deliver on those expectations. We are like Suryakumar Yadav or Virat Kohli, we are supposed to score a century every time we come to bat; a 10-run, 30-run cameo is not good enough.” Just taking a cue from your last tweet, who is going to win the race? Valuation or past performance? That is a very-very tough question.

Crompton Greaves, listed as CG Power and Industrial Solutions, has entered into an agreement with realty developer K Raheja Corp to jointly develop its headquarter CG House spread over more than an acre in Mumbai’s plush Worli locality. The headquarter of the company, which is engaged in design, manufacturing, and marketing of products related to power generation, transmission, and distribution & rail Transportation, is built on leasehold land. As per the term sheet signed by both the companies, the developer will be granted rights to develop the land parcel by demolishing the existing structure and thereafter constructing thereon one or more buildings. The exact development potential will be elaborated under the development agreement based on the regulatory guidelines. The development agreement is expected to be signed within 45 days of the execution of the term sheet or such extended period as may be agreed, CG Power and Industrial Solutions said in a regulatory filing. CG Power and Industrial Solutions and the developer will be entitled to 50% share of the leasehold right and the developed building.

stocks that have given multibagger returns of upto 412% in 2023 so far, saw retail investors increase their holdings for three consecutive quarters. These 12 stocks are Anand Rathi Wealth, Control Print, Gravita India, IRCON International, Jupiter Wagons, KDDL Ltd, Kilburn Engineering, KSolves India, Saksoft, Shilchar Technologies, Sky Gold, and Som Distilleries Breweries. Stocks in the smallcap segment have had a dream run this year, backed by the relentless buying, particularly by retail investors.

Pramod Gubbi, Founder, Marcellus Investment Managers, says “I expect significant flows to come into India largely through India-dedicated funds. Maybe on the other side of elections perhaps because that is the only bit of uncertainty, maybe the last week's state elections has ironed out that uncertainty a little bit. Allocators would like to see some political stability. So, maybe the big ramp up might come on the other side of the election, but we have already seen the beginnings of those starting with last week's flows. ” We are trying to map the factors which are at play; the sudden change of stance from the Fed last evening has triggered a big global risk-on moment. India is also participating. Is it really something which the market is surprised about or was it largely in the direction the market was expecting? Three rate cut possibilities are now on the table starting mid-next year. I reckon it is not a total surprise. Pretty much at the beginning of April of this year, the best indication has been either the dollar index or FII flows into India as well. We have bottomed out in terms of FII outflows sometime in March 2023. And I think it was the 25th March 2023 Fed meeting which triggered that. In sum, the market started factoring in that we are close to the peak of the interest rate cycle, if not foreseeing some cuts. That has been at play for quite some time.

Native Americans of the Pacific Northwest until its rapid demise following European colonization, a study in Science showed Thursday. The new research was based on a genetic analysis of 'Mutton' one of the last surviving Coast Salish woolly dogs whose pelt was sent to the nascent Smithsonian Institution in 1859, only to be largely forgotten until the early 2000s. Interviews contributed by Coast Salish tribal co-authors, meanwhile, revealed the dogs occupied a previously underappreciated high-status in Indigenous societies, which revered the animals as members of the family and adorned their most treasured items with their emblem. The dogs' fleeces were shorn like sheep, with Coast Salish weavers using the wool to craft blankets and baskets that served ceremonial and spiritual purposes. «I was always curious about why and how the pre-colonial indigenous dogs in the Americas had gone extinct after the arrival of the Europeans,» lead author Audrey Lin, a molecular biologist currently at the American Museum of Natural History, told AFP. Where and when dogs were first domesticated remains murky, but it's clear that some of the first people who settled in the Americas brought their canine companions with them from 15,000 years ago. Within the span of a few centuries of Western settlers, however, these breeds were all but wiped out — and modern American dogs contain exceedingly little genetic material of their lost cousins.

Investing.com-- Chinese industrial production grew more than expected in November, indicating that manufacturing output remained steady even as local and overseas demand continued to trend lower. 

BharOS, an indigenously developed mobile operating system, is considering providing its technology for routers, said Karthik Ayyar, the founder of JandK Operations, an IIT Madras incubated non-profit organisation that has built BharOS. “We are looking at different variants of our operating system for different purposes,” Ayyar told ET.

Vedanta A Board meeting of Vedanta is scheduled on December 19 to consider issuance of non-convertible debentures (NCDs) on a private placement basis. BHEL BHEL and CMTI have signed a memorandum of understanding (MoU) for collaboration on technology development in the areas of Hydrogen value chain and IIoT solutions for predictive maintenance of machines and manufacturing processes. Hero MotoCorp The company has appointed Vivek Anand as Chief Financial Officer (CFO) and Rachna Kumar as the Chief Human Resources Officer (CHRO).

By Tim Hepher

Mint in the week gone by. The Sensex closed above 70,000 for the first time on Thursday, taking 551 days to add the last 10,000 points, while inflation rose to a three-month high. Meanwhile, funding slowdown continued for India's tech start-ups, falling to a five-year low.

Ashok Leyland’s ieV series of electric trucks in the sub-3 tonne segment. The market for small and light electric commercial vehicles, though at a nascent stage, is rapidly expanding as large fleet operators are seeking emissions-friendly technologies for last-mile deliveries. This shift is driven by mandates to phase out polluting commercial vehicles, evolving emissions-related regulations, and as the fleet operators pursue improved cost efficiencies.

Mint explains: Investors across the spectrum—retail, institutional, domestic and foreign—have been pouring money into Indian equities. Foreign investors who were on a selling spree in September and October, have begun buying in November and December. Analysts say this is largely fuelled by the BJP’s victory in recent state elections, which is seen as a sign of continued economic reforms.