Manufacturing Financial News

Nvidia’s dream run in recent months. The company became the seventh member to join the trillion-dollar club earlier this year. The company defines itself as the world leader in artificial intelligence (AI) computing.

₹8,960 apiece, registering a 2.60% gain in today's trading session. This came after the company, in an exchange filing on Wednesday, said it had acquired 0.54 mtpa cement grinding assets of Burnpur Cement Limited, located at Patratu in Jharkhand, at a consideration of ₹169.79 crore.

Investing.com-- Most Asian currencies kept to a tight range on Thursday tracking weak economic signals from China, while the dollar steadied from recent losses as markets awaited a key inflation reading due later in the day.

generative AI lags behind consumer demand and employee usage, a new survey from Adobe suggests. Only 47% of respondents in India said the company they work for currently uses generative AI tools. A remarkable 94% of Indian employees said they had already used generative AI in marketing and customer experience campaigns in the workplace; 52% have employed large language models and 50% have used text-to-image generators to create promotional brand materials and content.

₹298 apiece on National Stock Exchange (NSE), a premium of 76.33% to the issue price of ₹169. The stock further jumped to ₹344 levels in minutes after hitting the secondary market, indicating a stellar premium of 103% over the issue price. The ₹500.69 crore IPO was open for subscription between November 22 and November 24, at a price band in the range of ₹160–169 per share.

Gandhar Oil debuted at a premium of 76% (up Rs 129) on NSE in Thursday's trade. The stock listed at Rs 298 on NSE, while on BSE it debuted at Rs 295.4, up 75% over the issue price of Rs 169. Ahead of the debut, the stock fetched a premium of Rs 72 in the unlisted market. Gandhar Oil received a better-than-expected subscription demand at 64x for its IPO, mainly on the back of reasonable valuations. The net proceeds from fresh issuance worth Rs 357 crore will be used towards financing the repayment/pre-payment of a loan facility, purchase of equipment and civil work, expansion in capacity of automotive oil, petroleum jelly, white oils by installing blending tanks, funding working capital requirements and general corporate purposes. Gandhar Oil is a leading manufacturer of white oils with a growing focus on the consumer and healthcare end-industries.

Consumption is a theme that has always been a play on India within the emerging market basket, given its enormous size of the population, favourable demographics, and changing preferences particularly among the lower- and middle-class segments. This is one theme that Arvind Kothari of Niveshaay Investment Advisory is extremely positive on, and within this, the smallcase manager prefers discretionary players. “The discretionary space looks interesting to us, and we are comfortable about investing in companies where valuations are more palatable,” Kothari, who is the founder of the investment advisory firm, said in an interview with ETMarkets. Besides consumption, Kothari is also betting on the manufacturing theme, and believes that a third term for the incumbent government in 2024 would back these two themes as it would signify political stability, and continuity of reforms. “If the Indian economy maintains the anticipated growth trajectory, these two themes are well-positioned to be influential in the journey,” he said. Edited excerpts: What’s your take on the current market trajectory as India seems to be outpacing most of its EM peers, notwithstanding the global risks.

By Joe Cash

Investing.com-- Most Asian stocks kept to a tight range on Thursday after data from China pointed to sustained weakness in the region’s biggest economy, although most indexes were nursing strong gains for November. 

“India, with its relatively superior economic and corporate earnings growth, could attract higher global flows than what we have seen historically," Rupen Rajguru, Head Equity Investments and Strategy, Julius Baer India. In an interview with ETMarkets, Rajguru who has over has over 19 years of experience in the Indian Capital Markets said: “While India remains an expensive market vs the EM peers, we believe that stronger earnings growth, macro stability and better visibility will help the country to enjoy the premium valuations,” Edited excerpts: We are approaching the last month of the year 2023. Where are markets headed? The Indian markets seem to be on a good wicket at the current juncture, albeit some near-term intermittent volatility which again could be driven more by global factors.

Neelkanth Mishra, Chief Economist, Axis Bank, says “construction is considered the biggest employer after agriculture. So if construction activity is so strong, it is very surprising to me that for staples companies, the volume growth has been so anaemic. I can think of three or four reasons for this. All of them are contributors, it is very hard to conclude on how long they are going to last. The first is that perhaps we are looking at the wrong metrics. Because remember that in the bottom 50% of the population, which is what we are tracking through such metrics, brands are a luxury.” The outsized bet that has worked so far this year is bet on urban India, the premiumisation trend. That K-shaped recovery has played out only for the uber rich, and it has not really played out for the rural economy per se. Even right now, the trends and the data points that you are seeing do not really point to a meaningful recovery in the rural end of the economy. Is that a worrisome sign? It is indeed worrisome.

Investing.com-- Chinese manufacturing activity declined further in November, as the sector saw increased headwinds from slowing overseas demand, while growth in the non-manufacturing sector also deteriorated. 

By Sam Nussey and Miho Uranaka

Investing.com-- Oil prices fell in Asian trade on Thursday tracking weak economic signals from top importer China, with traders now holding out for an upcoming OPEC+ meeting where the cartel is widely expected to announce more supply reductions. 

Gold prices consolidated in a tight range and hovered close to a near seven-month high on Thursday, as investors awaited key inflation print to gauge whether interest rate cuts in the U.S. would come sooner than previously expected. FUNDAMENTALS * Spot gold was flat at $2,043.69 per ounce by 0225 GMT, after hitting its highest since May 5 on Wednesday, and was poised for its second straight monthly gain. * U.S.

Oil prices fell in early Asian trade on Thursday on weaker-than-expected Chinese manufacturing data, but investors maintained caution ahead of an OPEC+ meeting where production cuts are expected. Brent crude futures fell 28 cents, or 0.3%, to $82.90 a barrel by 0024 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 24 cents, or 0.3%, to $77.68 a barrel. China's manufacturing activity contracted for a second straight month in November and at a quicker pace than expected, an official factory survey showed on Thursday, suggesting more policy support measures are needed to help shore up economic growth in the world's largest oil importer.

HCL Group is moving closer to setting up an Outsourced Semiconductor Assembly and Test (OSAT) facility — also termed as a chip packaging unit — in Karnataka, multiple people aware of the developments told ET. The facility will be «small-to-medium sized» with an estimated investment of about $400 million, they added. The group — best known for its $12.6 billion IT arm HCLTech — is in active talks with the state government, which has offered land both near the international airport in Bengaluru as well as in Mysuru.

Shares of most companies in the power space are at all-time highs helped by the recent uptick in demand, an improvement in pricing trends, and pick-up in industrial demand. Shares of Torrent Power, NTPC and Power Finance Corp hit their lifetime highs on Wednesday, while REC hit its lifetime high earlier this month. Renewable energy player Suzlon Energy is also at a multi-year high, while Tata Power was at its highest level in more than a month. «Given the scanty and dry monsoon, we are seeing power demand shoot up leading to a demand-supply deficit, along with an uptick in rates.

Gandhar Oil IPO: Listing date of the initial public offering (IPO) of Gandhar Oil Refinery Ltd has been fixed on 30th November 2023 i.e. today. As per the information available on BSE website, Gandhar Oil share price will hit Dalal Street during Thursday deals.

In Colorado, President Joe Biden has said Rep_ Lauren Boebert was wrong to describe his policies as “a massive failure."

Electric vehicles have proved far less reliable, on average, than gasoline-powered cars, trucks and SUVs, according to the latest survey by Consumer Reports, which found that EVs from the 2021 through 2023 model years encountered nearly 80% more proble...