Manufacturing Financial News

construction chemicals and building finishing products to the industry, India’s infrastructure push could not have come at a more opportune time. In a conversation with ET Digital, Mahesh Bhanushali, Managing Director & Chairman, MCON Rasayan India Ltd.

₹288 to ₹304 per equity share of face value of ₹5. Flair IPO lot size is 49 equity shares and in multiples of 49 equity shares thereafter.

UltraTech Cement Ltd, the country's largest cement manufacturer has seen its share price gain by around 29% in last one year. While the stock is trading near 52-week highs it scaled ,recently analysts see more upside. The strong Cement demand in the country is helping all Cement makers including UltraTech see a good volume growth.

WARANGAL: Two decades ago, Damera Yakamma's husband, a cotton farmer in a southern Indian village, committed suicide by consuming pesticide because of his mounting debts, leaving his widow in charge of their two acres of land. After that, the mother of four — then in her mid-twenties — decided she did not want any more chemicals entering her home. With the help of a non-profit in Telangana state's Warangal district, Yakamma and some other local farmers grew their first organic cotton crop in 2005 using natural manure and bio-pesticides. They benefited from lower costs, better health and soil, and premium market prices as buyers sought their higher-quality cotton. But they lost their organic certification in 2015 after a genetically modified cotton variety known as BT, promising higher yields and pest resistance, spread so widely across India that they could no longer buy indigenous seeds from dealers. Still the farmers stuck with natural growing methods to produce cotton sustainably, in a bid to meet growing demand from fashion brands that are increasingly adopting targets to cut climate-heating emissions in their value chains. According to the Confederation of British Industry, in 2020 sustainable cotton accounted for nearly 20% of the global cotton supply.

The Access to Nutrition Initiative (ATNI), a global independent non-profit organization on Wednesday launched its third edition of the India Index, in partnership with Consumer Voice and Confederation of Indian Industry.

Nifty closed above 19,800 for the first time since October 17, while the Sensex closed above 66,000. The Nifty is now up nearly 1,000 points from its October 26 low of 18,837.When Asian market opened on Thursday, there was cautious activity following a slight rise in US stocks and a decline in Treasuries, triggered by data indicating a sustained expectation of inflation among US consumers.

Gold prices edged higher on Thursday, hovering close to a key $2,000 per ounce level, as an overall weaker dollar and lower U.S. Treasury yields buoyed demand for bullion. FUNDAMENTALS * Spot gold was up 0.1% at $1,992.59 per ounce, as of 0143 GMT, after hitting a three-week high of $2,007.29 on Tuesday. * U.S. gold futures were steady at $1,993.30. * The dollar was down 0.1% against its rivals after gains in the last two sessions and making gold less expensive for other currency holders.

markets were lulled by holidays in Japan and the United States on Thursday, leaving the U.S. dollar revelling in its gains after data that cast doubts over market projections for peak Fed rates. With markets shut in Japan and the United States for the Thanksgiving holiday, currencies barely moved and cash U.S.

Cars24, Spinny, CarDekho and CarTrade Tech have increased efforts on generating revenue from ancillary sources such as auto financing, insurance and classifieds, after witnessing a palpable slowdown in growth last fiscal year. According to people tracking the sector, these firms faced the slowdown as the “growth-at-all-costs” push by venture-backed companies took a backseat and they started focusing on improving unit economics by controlling expenses. Tweaking of business models continued into the current fiscal 2024 as well.

Adani Wilmar Ltd for $2-2.2 billion, two people aware of the development said. No single entity is expected to acquire the stake on offer, and the Adani group may farm out shares in the edible oils maker to multiple buyers, the people cited above said on condition of anonymity. “Apart from Wilmar, there are at least four global funds who are keen to buy Adani’s stake in Adani Wilmar, and the plan is to finalize the deal before the end of FY24," the first person added.

₹650 crore through an initial public offering (IPO). The proposed issue is entirely an offer for sale (OFS) of equity shares by promoters and other selling shareholder, according to the company's Draft Red Herring Prospectus (DRHP). The OFS comprises the sale of shares worth up to ₹100 crore by Bipinbhai Vithalbhai Hadvani, up to ₹540 crore by Gopal Agriproducts Pvt Ltd, and up to ₹10 crore by Harsh Sureshkumar Shah.

Investing.com — U.S. futures edged higher Wednesday, rebounding after the previous session’s weakness in the wake of minutes from the Federal Reserve’s last meeting which suggested interest rates could stay elevated for longer.

fall economic statement (FES), which is effectively a supplement or update to the vision laid out in the federal budget.“That is why we are making generational changes to competition law in Canada, including by cracking down on predatory pricing and other tactics that big corporations use to raise costs for Canadians,” Finance Minister Chrystia Freeland said.The FES discusses measures taken earlier this year, including Innovation Minister Francois-Phillippe Champagne calling on Canada’s major grocers to find ways to stabilize prices. Like Champagne’s prior comments, the FES says further actions are not ruled out, including tax measures for the grocery sector.The document also emphasizes in-progress work on Competition Act reforms, including honing in on “predatory pricing” by large companies.

BSE. While Non Institutional Investors had bid for 7.70 times the Number of shares offered or reserved, Retail investors had bid 6.92 times. Gandhar Oil Refinery will remain open for bidding till 24th November, 2023.

Moneycontrol, the same electric car will also be launched in India subsequently. Though Musk's Tesla is yet to make an official announcement on its India foray, the firm is all set to commence imports of some of its models from 2024 onwards. However, Tesla hasn't revealed any more details or the name of the model yet.

The leaders of Britain and South Korea are seeking to strengthen trade and defense ties between their countries during a state visit to the U.K. by President Yoon Suk Yeol

Elon Musk's social media company X has filed a lawsuit against liberal advocacy group Media Matters for America

Read here: Q2 Results: Godrej Consumer, ITC, Dabur, Tata Consumer among top analyst picks After strong revenue growth momentum in FY22 and FY23, Axis believes IT services may face challenges on demand and margin fronts on account of the economic slowdown and macroeconomic uncertainties. It has a skeptical near-term outlook for North America (40 percent of revenue). It further pointed out that deal wins remained resilient even during the difficult times, which gives us confidence that automation spending will rebound strongly in two to three quarters.

Tata Technologies, the third-biggest IPO (in terms of issue size) in 2023, opened for subscription today and will conclude on November 24. The company aims to raise ₹3,042.51 crore through the IPO, which is a complete offer for sale (OFS). The company has set the price band in the range of ₹475–500 apiece.

₹500.69 crore from the public offer. The company had filed its draft red herring prospectus in December 2022 and received market regulator Securities & Exchange Board of India’s (SEBI) approval in June this year. Gandhar Oil Refinery India has a leading market share in the Indian white oil market with significant overseas presence.

BSE Midcap index rising 38.8% and S&P BSE Smallcap Index rising 47.5% during the fiscal year 2024. The same is being supported by the earnings growth being clocked by these companies. The declining commodity prices have benefitted small and mid-cap stocks that saw strong margin expansion drive earnings growth.