Manufacturing Financial News

NEW DELHI : JSW Group chairman Sajjan Jindal has always dreamt of making a car. Nevertheless, in August 2017, when the group announced its intention to enter the electric passenger vehicle market, it took everybody by surprise. The electric vehicle (EV) segment was at a very nascent stage at that time and none of the mass market carmakers had anything worthwhile to offer.

Sun Pharmaceutical Industries share price, having gained 56% in the last six months, declined 1.91% in intraday trades on Tuesday. Sun Pharma remains in focus over its plan to acquire 100% ownership in its US subsidiary Taro Pharmaceutical Industries. Sun Pharma, after having announced its strategic plan in May 2023 to acquire 100% ownership of Taro now has increased its bid to purchase the outstanding shares of Taro Pharma.

Apple and renowned for its Gorilla Glass technology, will invest ₹1,000 crore to set up a new manufacturing unit in Tamil Nadu, as per an Economic Times report citing sources. The company will collaborate with its Indian partner, Optiemus Infracom, for the new facility. While no specific timeline has been committed, sources said, adding that they estimate the construction phase to last approximately a year.

passenger vehicle segment achieved its highest-ever sales in November 2023, reaching 3.34 lakh units. This figure reflects a 3.7 percent year-on-year growth compared to November 2022 when sales were at 3.22 lakh units. The data, released by the Society of Indian Automobile Manufacturers (SIAM), indicates a positive trend in the automotive industry.

Hindalco Industrieswill set up a new battery foil manufacturing facility with an investment of ₹800 crore in Odisha. The manufacturing unit will be commissioned by 2025, said the aluminum rolling and recycling company in its stock filing on Tuesday. The plant located in Odisha's Sambalpur will initially produce 25,000 tonnes of the product which is crucial for the production of Lithium-ion, and Sodium-ion cells.

₹1,827.50 apiece. This downturn came after 3.01 crore shares of the company changed hands in a block deal window on Tuesday. The total worth of the transaction was around ₹5,550 crore.

Canada continues its work towards net-zero carbon emissions, including through its mandate for at least 20 per cent of car sales to be electric vehicles (EVs) by 2026, a new report showing a declining interest in the products is raising questions whether that goal is doable.On Monday, AutoTrader.ca released its 2023 top search data into some of the most popular vehicles searched on their marketplace this year and while it showed a rise in popularity of trucks, the number showing an intent to purchase an EV has declined from one year prior.In 2022, the data found about 68 per cent of car shoppers who did not own an EV showing an intent to purchase one amid the record high gas prices faced and the growing inflation.

₹6,765 per share during Tuesday's intraday trade. This surge followed the company's announcement that its wholly-owned subsidiary, Padget Electronics Private Limited, secured a manufacturing contract from Lenovo for IT hardware products, i.e., laptops and notebooks, under the Production Linked Incentive 2.0 Scheme (“PLI"). The finalisation of this agreement is expected through the signing of a definitive agreement.

equity market universe of India, mid-caps and small-caps have had a good run-up this year in terms of pricing or share value. This run-up presents both a threat and an opportunity. Mainly, if you can read the economic tea leaves and know your investment priorities, the shoals in the mid-cap and small-cap ocean can be navigated.

Also read- HUL share price underperform Nifty Sensex in 1year . Should you Buy Sell or Hold More than 70% of the company’s revenues (73%) are from contracted customers while less than 3% is on order-to-order basis. Agrawal does not expect any impact on margins and says the margins have stayed in 26-28% range and will continue to remain so.

Investors in Chinese stocks next year will be seeking out businesses with global reach or other insulation from an economic downturn, after three straight years of China underperforming world markets. Companies in defensive sectors such as health, medical innovation and exporters in the electric vehicles supply chain and advanced manufacturing, as well as multinationals such as e-commerce firm PDD Holdings, will top the list. That's despite sell-side analysts turning bullish on China's broader market for next year, with Morgan Stanley and Goldman Sachs forecasting Chinese equities to outperform the S&P 500. «Since economic recovery is slower than expected, we lowered exposures which are sensitive to macro cycles,» said Wang Qing, chairman at Shanghai Chongyang Investment Management. Chongyang is instead buying defensive high-dividend stocks, medical innovators with global competitiveness, and advanced manufacturing backed by Beijing, Wang said, declining to list any investments by name. This follows China's blue chip CSI300 index sinking to five-year lows and losing 12% over 2023 against a 15% gain for global stocks as the Chinese economy struggled with a property crunch and a slow recovery from COVID-19. Hong Kong's Hang Seng fared even worse, sliding more than 18% to trade on a forward price-to-earnings ratio below six, against 21 for the S&P 500. Performance over the last 10 months crushed the optimism that infused the beginning of the year, with four straight months of foreign outflows in the second half of the year totalling a net 138 billion yuan ($19 billion) withdrawn from Chinese equities via the Stock Connect scheme. «Investors (have) struggled to think what the next growth driver for China will be,»

BAE Systems, a defence contractor, will receive the first federal grant from a new program aimed at shoring up American manufacturing of critical semiconductors. The company is expected to receive a $35 million grant to quadruple its domestic production of a type of chip used in F-15 and F-35 fighter jets, as well as satellites and other defense systems. The grant is intended to help ensure a more secure supply of a component that is critical for the United States and its allies.

Nifty50 hitting a record high on Tuesday, following gains in Asian peers ahead of key inflation data and the US Federal Reserve policy decision. The BSE Sensex was trading 76 points or 0.11% higher at 70,005, while Nifty50 was trading at 21,028, up 31 points or 0.15% at around 9.23 am. The current rally is bolstered by strong macroeconomic data, a decline in crude oil prices, favourable global interest rate outlook, the resurgence of foreign inflows and sustained inflows from domestic mutual fund investors. From the Sensex pack, Tata Steel, JSW Steel, M&M, ITC, and Asian Paints opened higher, while Infosys, L&T, Bharti Airtel, Titan, and NTPC opened with cuts. Dixon Technologies shares rose over 6% after the company's unit secured a manufacturing contract from Lenovo to make laptops and notebooks under the production-linked incentives (PLI) scheme. Rail Vikas Nigam (RVNL) also surged 4% after the joint venture of the company emerged as the lowest bidder for a project worth Rs 543 crore. Mankind Pharma shares fell nearly 5% amid reports of a block deal executed on the counter. Sector-wise, Nifty Media surged 2.34% and Nifty FMCG gained 0.7%. Nifty Bank and Nifty Financial Services also opened higher.

₹750 to ₹790 per equity share with a face value of ₹10. DOMS IPO lot size is 18 equity shares and in multiples of 18 equity shares thereafter.

Avoid Maintaining Full Charge: Electric vehicles are equipped with a battery management system that safeguards against extreme charging levels. Maintaining the state of charge between 0% and 100% enhances both battery life and overall vehicle performance. While a full charge may provide maximum operating time, consistently keeping the battery at this level is not advisable for its long-term health. Limit Fast Charging: While fast charging is convenient for quickly replenishing batteries, it places significant stress on the EV battery.

Infosys: India's second-largest IT services company on Monday said Nilanjan Roy, its chief financial officer has tendered his resignation. Jayesh Sanghrajka, a member within the company, will be taking over the role. Roy chose to resign to pursue personal ambitions beyond the scope of the company.

Infosys Infosys on Monday said its CFO Nilanjan Roy has resigned from the company to pursue other personal aspirations.

New York Democrats say the state will spend $1 billion to expand research into chip technology in an effort to turn upstate New York into a global center of semiconductor research and manufacturing

The Biden administration is announcing the first allocation of incentives from last year’s bipartisan CHIPS and Science Act

Nat Habit, a direct-to-commerce beauty and wellness brand, has raised $10.2 million in a series B funding round led by Bertelsmann India Investments. The round also saw participation from existing investor Fireside Ventures, along with other investors including Amazon India Fund, Mirabilis Investment Trust and Sharrp Ventures, the company said in a statement on Monday.

Apple supplier and American Gorilla Glass maker, Corning Inc., is investing Rs 1,000 crore to set up a manufacturing facility in Tamil Nadu, multiple sources aware of the development told ET. The facility will be set up at Pillaipakkam, near Sriperumbudur, on a 25-acre plot, which can be expanded if the need arises and will employ around 300 people. This marks the formal entry of another Apple supplier into India, bolstering the expanding ecosystem of Apple as well as electronic component manufacturers in the country.