Manufacturing Financial News

In 2021, the Texas-to-New York Colonial Pipeline suffered a ransomware attack. The pipeline carries 55% of the gasoline, diesel and jet fuel consumed on the US East Coast. It resumed only after a $4.4 million ransom was paid in bitcoins in exchange for a decryption tool.

Investing.com — U.S. stocks traded in a mixed fashion Friday in thin trading, at the start of a shortened trading day.

Investing.com -- U.S. futures edged mainly into the green ahead of a truncated trading day. American shoppers will be on the hunt for deals this Black Friday as retail companies warn that inflation-squeezed consumers may be more careful about spending big this holiday season. Elsewhere, Amazon (NASDAQ:AMZN) workers and activists in Europe plan protests and strikes aimed at disrupting the e-commerce giant's massive delivery network during its ongoing ten-day sales event.

Indian Coast Guard and the Navy will acquire 15 C-295 transport aircraft that are being manufactured in India in a joint venture between Tata Advanced Systems and Airbus. The proposals for the acquisition of these 15 aircraft are at an advanced stage in the defence ministry, in which nine planes would be procured by the Navy while six would be taken by the Indian Coast Guard. The transport aircraft would be equipped with the required radars and sensors and turned into a maritime patrol plane by the Defence Research and Development Organisation's Centre for Airborne Systems (CABS), defence officials said. Speaking about his force's projects, Indian Coast Guard Chief Director General Rakesh Pal told ANI, «There are plans for acquiring long-range maritime surveillance aircraft, which the Air Force has taken, and the contracts will be signed with TASL (Tata Advanced Systems Limited), wherein we are about to get six C295 transport aircraft.» He said, «The Ministry of Defence is giving us adequate funds to ensure that our acquisition processes are all fast-tracked.» The Coast Guard chief informed that shortly his force was also set to sign contracts for nine more advanced-light helicopters, the ALH Dhruv manufactured by Hindustan Aeronautics Limited. The Indian Air Force recently inducted the first C-295 transport aircraft manufactured in Spain. While the first 16 will come from Spain in fly-away condition, the remaining 40 will be produced in India at a Tata facility in Vadodara, Gujarat. The order from the Navy and Coast Guard, if approved by the government, will take the Tata Airbus order book to 71 from the existing 56. The C-295 is being used by some of the operators of the plane in maritime patrol roles.

Gold Price Today, Gold Price Outlook, Gold Price Forecast: MCX gold prices are trading higher on Friday, while Silver rates traded flat. On the Multi Commodity Exchange, gold December futures were trading at Rs 61,150 per gram, up Rs 78 or 0.13%. Silver December futures are trading flat at Rs 72,900 per kg, up merely Rs 2 on the MCX.

Black Friday sales provide hefty discounts on a variety of products. As for Indians, it is a great opportunity for those who missed the Diwali sales bus. An increasing number of brands are jumping on the bandwagon, seeking to tap into an Indian populace that finds itself more connected with Western culture. However, more than anything, it is just another opportunity sandwiched between Diwali and Christmas spirit that typically takes consumer item sales to new highs. This year it also comes at a time when Indians at large are riding the premium wave and are ready to shell out a lakh of rupees for a mobile or TV. “Black Friday is becoming a global phenomenon for giving a chance for consumers to buy aspirational products at good deal pricing. This also helps retailers get a better stock turn at reduced margins,” Kumar Rajagopalan, CEO of the Retailers Association of India (RAI) told ET Online. Offers are up for grabs on products ranging from clothing, footwear, beauty & personal care to consumer electronics, appliances and jewellery with players like Amazon, Myntra, Croma and Vijay Sales catering to the rise in demand. “Many lifestyle products including consumer durables, IT products, garments and wearable accessories seem to be getting a sales boost. Generally, this is seen as being very useful for omnichannel retailers,” Rajagopalan added.

Multibagger stock: Shares of Rattanindia Enterprises Ltd are one of the multibagger stocks that Indian stock market has produced in current financial year. After bottoming out at around ₹33 apiece levels at the end of March 2023, this drone maker stock has risen to a new high of ₹81.60 apiece levels on NSE during Friday deals, delivering around 150 per cent return in FY24. RattanIndia share price had hit new high on Thursday session as well.

PI Industries' share price gained more than 1% on Friday adding to its gains of around 15% that the stock has seen since October lows. While concerns around most chemical manufacturers stay elevated pertaining to inventory destocking, demand slowdown in developed countries, rise in China Exports, PI Industries with patented molecules and niche product range remains better placed compared to peers feel analysts. The Q2 performance held testimony as the financial performance of PI Industries remained strong amidst favorable demand momentum while many peers saw pressure on the performance.

While Jason Ladouceur family’s needs have not gone up, he says the cost of living basics have doubled or sometimes tripled.

GMP: The company's shares in the grey market are trading at a healthy premium of ₹76, indicating a 45 percent premium at listing. However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly. The ₹501 crore IPO of Gandhar Oil opened for subscription on November 22 and will close on November 24.

Tata Motors’ subsidiary, Tata Technologies Ltd, has received strong investors’ response with a record number of IPO applications. The Tata Technologies IPO, which opened for subscription on November 22, will close today, November 24. Read Tata Technologies IPO LIVE Updates here Amid huge interest from investors across the board, Tata Technologies IPO got oversubscribed heavily within hours of opening.

Maruti Suzuki on Friday said its board has approved the allotment of 1,23,22,514 equity shares of the company to Suzuki Motor Corporation on a preferential basis as consideration for the acquisition of a 100% stake of SMC in Suzuki Motor Gujarat (SMG). The decision to allot shares at a price of Rs 10,420.85 per equity share for a total consideration of Rs 12,841.1 crore was taken at a board meeting this morning. Maruti shares were trading 0.3% higher at Rs 10,525 on BSE in the opening session. Following the preferential allotment, Suzuki Motor Corporation Japan's stake in Maruti Suzuki India will increase from 56.48% to 58.19%. Back in August, Maruti Suzuki said it would acquire parent Suzuki Motor's manufacturing facility in Gujarat to ensure better management control over the unit.

Investing.com-- Asian currencies kept to a tight range on Friday, while the dollar moved little as a U.S. market holiday made for scant trading, although focus now turned to key business activity readings due later in the day. 

After a strong rally in midcap and smallcap stocks in the last one year, one might on the face of it, tend to believe that switching to largecaps is ideal. But, from a valuation standpoint, the midcap and smallcap indices are still trading well below their historical averages, says Pawan Bharadia, managing director, Equitree Capital Advisors. While there is exuberance in some pockets of mid and smallcaps, there are enough and more opportunities within the smallcap space where valuations are reasonable and may continue to generate alpha returns even from hereon, Bharadia said. Edited excerpts from an interview with ETMarkets: Is it time to switch to largecaps, or is there more steam left in the midcap and smallcap space? Midcaps and smallcaps indices have had a good run over the last year, delivering 40-44% returns, whereas the Nifty has given a somber 9% return only over the same period.

Andrew Ng, the founding lead of the Google Brain team and former chief scientist at Baidu, juggles multiple roles as a teacher, entrepreneur, and investor. He is currently the founder of DeepLearning.AI--an edtech company, founder & CEO of Landing AI--a software provider for industrial automation and manufacturing, general partner at AI Fund, and chairman and co-founder of Coursera, besides being an adjunct professor at Stanford University’s Computer Science Department. In an interview, he shares his views on the OpenAI fracas, loss of jobs to generative artificial intelligence (AI), the heated debate around artificial general intelligence (AGI), and global regulation of AI, among other things.

₹3,127-crore Landmark Cars, the only listed car dealership chain in India, is looking to expand its business through acquisitions and by leveraging new partnerships with companies such as MG Motor India and Mahindra & Mahindra (M&M). The acquisition route is not new for Landmark. A quarter of its 117 outlets consists of dealerships it has bought out from previous owners.

The committee also had representatives from Singareni Collieries Company Ltd, West Bengal Power Development Corporation Ltd, Bharat Earth Movers Ltd, Caterpillar India Pvt Ltd, Tata Hitachi, Gainwell India and industry associations, according to a government release. The committee has suggested the standardisation of equipment in line with Coal India's existing equipment standardisation effort, the government said. It has also said that tender clauses should promote the use of indigenous equipment.

By Jonathan Cable

Supreme Court order that rejected a petition put forward by the Firecracker Manufacturers Association to include Barium compound in Green crackers. These states include Mizoram, Delhi, Haryana, Punjab and West Bengal. Most states have imposed a blanket ban while others allowing bursting of green crackers within a short window in view of worsening air pollution situation.

ACC) production-linked incentive scheme with a 20-GWh capacity by December, an official in the know said. The move offers an opportunity for applicants who did not qualify in the initial round, or couldn’t apply to avail the incentives for creating battery storage capacity in India. The heavy industries ministry is likely to conclude consultations with the ministry of new and renewable energy by December.

CEVA Logistics, one of the largest third-party logistics (3PL) companies in the world, expects India to be among its top five revenue generating markets within the next three years, led by the market’s growth potential and the government’s policy initiatives including programmes like ‘Make in India’, said a top company executive. “India is the place to be. The economy is firming up and showing solid transformation through growth.