Manufacturing Financial News

Drug manufacturer Cipla on Saturday recieved a warning from the United States Food and Drug Administration (USFDA) after an inspection conducted by the agency, at the company's Pithampur facility, earlier this year. The American agency conducted a routine inspection at the facility in February. «We wish to inform you that on November 18, 2023, the company has received a warning Letter dated November 17, 2023 from [the] United States Food and Drug Administration (USFDA) for the routine current Good Manufacturing Practices (cGMP) inspection conducted at our Pithampur manufacturing facility between February 6-February 17, 2023,» Cipla said in an exchange filing.

Investing.com-- The People’s Bank of China kept its benchmark loan prime rate unchanged near record lows on Monday, as it continued to skirt the balance between fostering an economic recovery and preventing more weakness in the yuan. 

Exide Industries: Exide Industries Ltd has settled its trademark dispute with the UK’s Vertiv Company Group Ltd. and India's Vertiv Energy Pvt. VCGL and VEPL have agreed that the trademark Chloride and its variants in India are registered by Exide, according to an exchange filing issued on Friday.

Investing.com — US futures traded slightly lower on Sunday evening, following a three-week winning streak from major benchmark averages.

India offers to facilitate local manufacturing of electric vehicles will be equal for foreign as well as domestic investors, government officials said, amid concerns raised by automakers in India over possible concessions in import duty to American carmaker Tesla. Senior government officials in the know told ET that Tesla has sought provisional tariff concessions as a prerequisite for setting up a manufacturing facility in India, but New Delhi is not in favour of any company-specific exemptions. «The government's approach is for the industry as a whole and not for any specific company because we have very strong domestic companies in this sector,» said an official, adding that any incentives offered will be equal for domestic and foreign investors. The government is in the process of drawing up a policy to incentivise local manufacturing of electric cars, at a time when US EV maker Tesla and its relatively lesser-known Vietnamese rival VinFast are firming up their India entry strategy. While policy guidelines are yet to be finalised, local carmakers said offering concessional tariffs to Tesla will adversely impact investments that have already been made or are being made by them to produce electric vehicles.

₹50-300 crore, an increase from the ₹15-50 crore range observed in Fund I," he said. The fund managers will now primarily look at more matured, scalable companies with a focus towards profitability as a key factor for evaluation of a company.

Mint had reported earlier after speaking with several consultants including Aon, Mercer and Willis Towers Watson (WTW) that Indian companies are likely to offer median increments of 9-10% this time, with macroeconomic pressures pushing companies to be more prudent. In fiscal year 2023 (FY23), the median remuneration had risen 9.5% on average, the highest since FY20 (9.7%), a Mint analysis of Sensex companies showed. However, in 2019-20 (before covid), the average annual inflation was far lower, at 4.8%.

NEW DELHI : Hyderabad-based pharmaceutical company Dr Reddy’s Laboratories Ltd (DRL), will invest ab out ₹700 crore for capacity expansion during the second half of the fiscal, G. V. Prasad, co-chairman and managing director of DRL told Mint.

NEW DELHI : The Centre is exploring options such as increasing the deposit acceptance limit for eligible non-banking finance companies (NBFCs), introducing deposit insurance and creating a specific liquidity window for NBFCs, according to two officials. The goal is to lower funding costs, enabling NBFCs to offer loans to crucial sectors such as agriculture and micro, small, and medium enterprises, at more affordable interest rates, they added. Besides agriculture, MSMEs are a cornerstone of the Indian economy, contributing 30% to gross domestic product, 45% to manufacturing output, and 48% to exports.

Narendra Modi. The Biden administration drew up various schemes involving India in alliances with Israel and rich Arab countries, aimed in part at stemming Chinese influence. A European Council on Foreign Relations report echoed the new Western consensus: The West needed to woo friendly members of the Global South such as India and Turkey if it was to build a new world order.

By Dr Mukesh Aghi

Dabur India CEO Mohit Malhotra in an interview with news agency PTI. Dabur recorded a significant increase in its domestic sales from South India, now accounting for 20% of its total sales, and has witnessed a doubling of its business in the region over the past 5-6 years. In response to this growth, the company is actively identifying market-specific gaps and needs, aiming to introduce customized products tailored to the preferences of these markets.

In recent financial news, Bitcoin (BTC) has witnessed a significant fluctuation in its market value, drawing attention to its latest price movements and the implications for investors and the cryptocurrency market as a whole. Despite a recent decline that triggered the largest bull liquidation in three months, Bitcoin is showing signs of resilience.

FMCG and ayurvedic products maker Dabur is planning to set up a new factory in South India in less than a year's time, as its business scales in the region, according to company's CEO Mohit Malhotra. Dabur, which now gets 20 per cent of its domestic sales from South India with its business there doubling in the last 5-6 years, is identifying gaps and usages to launch products customised to the markets, he told PTI in an interview.

IPO) lane will be busy in November with five companies, including Tata Technologies and Indian Renewable Energy Development Agency Ltd, tapping the primary market next week to raise over Rs 7,300 crore collectively. The other three companies whose maiden public issues are ready to open are Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery India. Together, these five companies are expected to fetch more than Rs 7,300 crore through the IPOs, data from the stock exchanges showed.

Inflation eased in both the US and UK, prompting bets that central banks on both sides of the Atlantic will start cutting interest rates by the middle of next year. Meantime, expectations for growth across Europe are improving, but the rebound remains fragile in the European Union’s east. The economic recoveries underway in China and Japan are also shaky given slowing consumption, among other factors. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: US US inflation broadly slowed in October, which markets cheered as a strong indication that the Federal Reserve is done hiking interest rates.

global markets, easing US bond yields, and strong domestic institutional inflows suggest that the momentum in domestic equities is likely to continue this week. However, it’s the primary market that’s going to steal the limelight, as IPOs worth Rs 7,300 crore will be up for sale, led by Tata Technologies. Investors will be eagerly waiting for Tata Tech’s IPO, the first one from Tata Group in 20 years, and the fact that demand remains high, is reflected in the price as the stock is trading at a premium in the grey market. Two other major IPOs to look out for are Mini Ratna company Indian Renewable Energy Development Agency, and Fedbank Financial Services. As for the Nifty50, analysts expect the index to remain in a consolidation phase until it decisively breaches the 19,850 mark.

PTI. 5. Earlier on Saturday, Former Prime Minister Office (PMO) advisor Bhaskar Khulbe said that teams deployed at the Silkyara tunnel require a coordinated action for the rescue operation which is underway at the site adding that multiple options are being explored to save their lives. Speaking to ANI, Bhaskar Khulbe said, “We are exploring as many options as possible to rescue workers.

₹ 7,300 crore via initial public offering (IPO). Tata Technologies and Indian Renewable Energy Development Agency (IREDA) are among the biggest among six companies. ‘’In terms of the number of IPOs, India’s share in the global pie has increased sharply.

female workers during this campus recruitment season, as manufacturing firms strive to widen the talent pool and build a pipeline of women professionals by grooming them early, in a sector that is highly male-dominated. Companies are targeting female graduates at leading engineering and management schools (IITs, IIMs, NITs, etc) and undergraduate colleges such as St. Stephens, Lady Shri Ram College, Shri Ram College of Commerce, and St. Xavier's College for entry-level roles, top executives told ET.

Indian Air Force is working on a project to develop an indigenous jammer pod for the homegrown LCA Mark 1A fighter aircraft, IAF officials said on Saturday. «IAF's Base Repair Depots have been tasked to indigenise many of the equipment required on its fighter and transport aircraft and other weapon systems and cut down imports,» officials added.