Manufacturing Financial News

commercial vehicles, a barometer of economic activity, are expected to hit an all-time high in FY24, fetching record revenue for companies such as Tata Motors, Ashok Leyland and VE Commercial Vehicles. Pricier heavy-duty vehicles are driving demand amid record government spending on infrastructure and increased freight movement.

₹700 crore on our battery assembly plant in Chennai, Tamil Nadu, which will have a capacity of 75,000 battery packs annually in the first phase by 2025," Gopala Krishnan, chief manufacturing officer, HMIL, added. Unsoo Kim, the carmaker’s chief executive in India told Mint that while the world is currently depriortizing an EV transition, it is a temporary phenomenon.

NEW DELHI : JSW One Platforms Ltd, the tech venture of the JSW Group, aims to achieve break-even within two years, after having quadrupled its gross merchandise value (GMV) since last year, said chief executive Gaurav Sachdeva. “So, we will break-even...somewhere closer to FY26. When we say break-even, it is not Ebitda (earnings before interest, taxes, depreciation, and amortization) break-even, but PBT (profit before tax) break-even.

NEW DELHI : Spanish transport firms are interested in building high-speed railway networks in India, said the country’s ambassador Jose Maria Ridao Dominguez in an interview with Mint. Spain, which has the second largest network of high-speed trains in the world after China according to Dominguez, is interested in exploring the sector for its private sector companies. He mentioned Talgo, a Spanish manufacturer of high speed passenger trains, as an interested party in the high-speed rail sector. Besides this, defence is a key focus for Spain, Dominguez said.

₹2.5 lakh, it will never be a mass market product. But the purpose of the event was to showcase its technology, create a brand halo, and underline the company’s global ambitions. Indeed, the word technology trips off the tongue freely for TVS’s top management.

The EUR/USD pair is likely to be among the more active currency pairs this week, which I am expecting to potentially rise to the 1.10 handle amid improved risk sentiment and recent falls in US yields and the US dollar. Although the economic situation in the eurozone remains far from convincing, the market may have gotten ahead of itself with regard to ECB rate cuts being priced in as early as April.

A handful of temporary workers from South Korea have arrived in Windsor to staff up a new Stellantis electric vehicle battery manufacturing plant, according to officials with the Ontario government, raising concerns that massive taxpayer subsidies could be used to employ international auto workers over Canadians.

Bajaj Auto, a leading two-wheeler manufacturer and the flagship company of Bajaj Group, saw its shares perform exceptionally well on the exchanges this year, gaining 57.3% so far. This marks the stock's best yearly performance since 2010. The company's shares have been on a continuous uptrend since January 2023, with no significant pullbacks.

Investing.com — U.S. futures edged higher Monday, at the start of a holiday-shortened week that includes the keenly-awaited release of the minutes from the most recent Federal Reserve meeting.

By Katherine Masters

Oil and Natural Gas Corporation Ltd ) gained up to 1.1% in intraday trades on Monday, the day when benchmark indices traded in the red. The Brent crude prices also have been softening. Analysts nevertheless maintain a positive outlook for upstream oil producers and expect stable net realisations for ONGC.

Also read: Xiaomi reveals its first electric car SU7 Xiaomi is emerging from a years-long funk, when global demand for smartphone and other electronics cratered and rivals from Huawei Technologies Co. to Apple Inc. and Oppo encroached on its once-dominant position.

The IPO offer of this state-owned company will close on November 23. It is the first IPO by a public sector enterprise after Life Insurance Corp's public issue in May last year. The Mini Ratna company is actively promoting, developing, and extending financial assistance for new and renewable energy projects as well as energy efficiency and conservation projects with a strong track record of growth, geared towards high-quality assets and diversified asset book and stable profitability, SMC said in an IPO note. Government's push towards renewable energy projects is expected to increase, SMC said even as it maintained that the company could suffer if it is unable to maintain and effectively manage the quality of its growing asset portfolio and NPAs. The IPO with a face value of Rs 10 consists a fresh issue of up to 40.3 crore equity shares and an offer for sale (OFS) of up to 26.8 crore equity shares by the government. About 50% of the IPO will be available for allocation on a proportionate basis to qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors. The proceeds from the fresh issue will be used for augmenting its capital base to meet its future capital requirements and onward lending. IREDA has an impressive track record spanning over 36 years in the field of fostering and providing financial support for fresh and sustainable energy (RE) projects, as well as energy efficiency and conservation (EEC) initiatives. The company is India's largest dedicated green financing non-banking financial company (NBFC). The organization offers a comprehensive array of financial products (fund and non-fund-based) and associated services, from project inception to post-completion,

Suzlon Energy Ltd. share price snapped their five-day gaining streak by falling over 5.4% on Monday’s trading session amid weak market sentiment. On November 20, the Suzlon stock opened at ₹42.

₹778 compared to the issue price of ₹587 apiece. Later, it finished the first day with a 17.5% gain at ₹690. The stock has experienced a one-way spike since its listing, and it is now up by 321% at ₹2,474 apiece as against its issue price.

rules of origin for the medical devices sector remains a sticking-point in the proposed free-trade agreement (FTA) between India and the UK and the talks are on to iron out the differences, an official said. Huge potential is there in the medical devices sector in India, as it imports about 80 per cent of its requirement, with the US, Germany, China, Singapore and Netherlands being top exporters of such devices to the country. «In the medical devices sector, a lot of issues related to rules of origin are still there. Demand for customs duty concessions is also there,» the official said, adding negotiations are going on between the two countries to resolve the differences in both goods and services sectors. The government has taken steps to promote domestic manufacturing of medical devices/equipment and attract large investment in the sector.

Torrent Pharmaceuticals (up 0.58%), GlaxoSmithKline Pharmaceuticals (up 4.65%), Aurobindo Pharma (up 0.02%) touching 52-week high levels, while shares of Sanofi India (up 0.57%) , Cipla (down 0.12), Zydus Lifesciences (flat at 0.05%) hovering near its 52-week high levels. According to technical analysts, there's no major reason for Pharma sector to make record high, but since last couple of weeks this space have showed signs of outperformance breaking multiple month highs.

Aurobindo Pharma Ltd lifted investor sentiments and the share prices gained of Aurobindo Pharma gained more than 1% in morning trades on Monday, on a day when benchmark indices were trading in red. Aurobindo Pharma in its filing on the exchanges said that United States Food and Drug Administration (US FDA) conducted a Pre-Approval Inspection (PAI) at Unit-I & III, Formulation manufacturing facility, of APL Healthcare Ltd., a wholly owned subsidiary of the Company, situated in the Mahabubnagar District, Telangana,, from November 13 to 17, 2023. The inspection closed with zero observations and a classification of “No Action Indicated" (NAI).

Sydney private equity firm Next Capital is ready to take artisanal bread maker Noisette out of the oven.

Renault Duster from the new generation has had its image leaked online, providing a glimpse of the car's silhouette. While still bearing a resemblance to the original Duster, the compact SUV now exudes a more stylish and sophisticated appeal. As per the publication, the new generation Renault Duster features a distinct design, diverging significantly from its original iteration.

₹83422 crores through the exchanges. During this period DIIs alone bought stocks worth ₹77995 crores.