Manufacturing Financial News

Varun Beverages on Monday reported robust earnings for the quarter ended September, with the consolidated net profit rising nearly 32% year-on-year (YoY) to Rs 501 crore, on the back of strong topline and operational performance. Consolidated revenue, net of excise duty, grew by nearly 22% YoY to Rs 3,871 crore, led by a healthy growth in volumes and realisations. Despite the strong earnings growth, the stock wiped the gains and fell 0.7% to Rs 946.10 due to profit-booking. Ahead of the earnings, the stock had touched a one-month high of Rs 965.70. Consolidated sales volumes grew by 15.4% in the third quarter of the calendar year to 220 million cases, led by a double-digit growth in both Indian and international markets, the company said. Varun Beverages, which is PepsiCo’s second-largest franchisee outside the US, follows the calendar year. Net realization increased by 5.6% to Rs 176.3 per case, driven by an increase in realization per case primarily in the international markets. Operating profit, calculated as earnings before interest, taxes, depreciation, and amortisation (EBITDA), increased by 26% on year to Rs 882 crore. Gross margins improved by 163 bps to 55.3% in the quarter, primarily due to the softening of PET chip prices.

KPMG, the auditor of British industrialist Sanjeev Gupta’s InfraBuild, has warned of “material uncertainty” for the Australian steel distribution group if it is unable to complete a $US350 million ($544 million) financing offer to replace debts that fall due late next year.

BSE and NSE at stellar 28 per cent premium during Monday deals. Cello World shares listed on BSE at ₹831 per equity share and went on to hit intraday low of ₹781.50 apiece within few minutes of stock listing.

TOKYO (Reuters) — Japan's services activity expanded at the slowest pace this year in October, a business survey showed on Monday, reinforcing concerns that the key sector propelling economic growth is continuing to soften.

₹88.90 apiece on the NSE SME, a premium of 27% from its issue price of ₹70 per share. Transteel Seating Technologies IPO opened for public subscription on October 30 and closed on November 1. The IPO share allotment was finalised on November 3.

Pashupati Advani, Founder & Chairman, Global Foray, says “I unfortunately bailed out of Paytm a little early, so I am kind of watching it go up and missing it. Zomato is okay and with the World Cup, definitely the numbers have been good and the stickiness is also going to be there. So it is the way India is moving and it is new patterns that are coming up and we actually have to predict those to make money.” How is your portfolio shaping up? What have you been busy analysing and adding in your portfolios? I am a little bit reluctant to add aggressively simply because we are not at highs. But there is a lot of turmoil. I find it very difficult to believe that even though people are slaughtering each other in Israel and Gaza and in Ukraine and Russia, markets continue to trade up sort of quite interestingly. But there obviously seems to be money around. But I am a little surprised at where things are going. I have actually not been so aggressive.

global currencies were steady early on Monday but seemed poised to extend last week's uptrend as the dollar nursed its losses after the Federal Reserve dialled down its hawkish rhetoric. The dollar index was flat at 105.11, with the euro at $1.0726. The dollar index declined more than 1% last week, its heaviest fall since mid-July and hit a six-week low. World stocks too had their strongest week in a year as expectations the Fed was done raising rates gathered steam.

Tata Group will one day become a case study for Indian industrial policy. The conglomerate has a high chance of success through buying its way into iPhone manufacturing, offering rival empires like mining group Vedanta Ltd. a lesson on the better path toward industrial expansion. Wistron Corp., a Taipei-based maker of computers, servers and smartphones, is slowly exiting its business of assembling Apple Inc.’s marquee product. Two years ago, it sold a Chinese unit that makes iPhones to Luxshare Precision Industry Co. for 3.35 billion yuan ($457 million). On Oct. 27, it announced the sale of Wistron InfoComm Manufacturing (India) Private Ltd., known as WMMI, to Tata Electronics Private Ltd.

employee productivity of India Inc — measured as revenue per employee — has steadily gone up in the past five years, even as staff cost as a proportion of total revenues has largely been maintained at 10%. Data compiled by ET Intelligence Group shows the cumulative revenue per employee of ET-500 companies — the top 500 listed companies based on their revenues — has climbed 36% from ₹1.46 crore in FY19, to almost ₹2 crore in FY23.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Tesla wins autopilot court battle; BP Pulse makes $100M deal; and China EVs report October delivery numbers.

NEW DELHI : Green mobility solutions provider GreenLine is planning a big-ticket expansion of its two-year-old logistics services operations, investing about ₹850 crore to add 1,000 liquefied natural gas (LNG) trucks to its fleet in this financial year. It will further invest over ₹4,000 crore in FY25 to raise LNG truck deployment by any another 5,000 units, while also exploring options for deploying electric trucks on short-haul operations.

The U.S. labor market experienced a slowdown in October, with job growth significantly underperforming, according to the Labor Department's report. A total of 150,000 jobs were added, marking the smallest gain since June and falling short of the expected 180,000. Concurrently, the unemployment rate rose to a two-year high of 3.9%, reflecting a cooling labor market.

Ola Electric? Is he serious? Well, his reaction was triggered by a video that recently surfaced online. The video clip showed a man, donning a helmet, and riding a rental bike (Ola Electric bike maybe) at a constant speed, without holding the accelerators — as if the bike had the cruise control feature. Cruise control is a feature that allows a person to maintain a speed, set by the driver, without using the accelerator.

Modi-led BJP government came to power. “Earlier, India used to appeal to the world for help after terror attacks. But now those countries behind the attacks request to the world to save them," PM Modi said, without naming Pakistan, as quoted by Hindustan Times. “These obstacles kept India from growing to its full potential after independence," he said, adding that India is now leading in mobile manufacturing, and in the top three in startups.

Havells India, a leading manufacturer of electrical goods and appliances. DRI acts as the lead agency to check smuggling and cases of commercial fraud.

Mike Cannon-Brookes’ Sun Cable, the $40 billion project aiming to transport solar power from the Northern Territory to Singapore, said it planned to manufacture the power cables itself at a specialised new facility in Tasmania.

By Brenda Goh

DUBAI (Reuters) — Growth in non-oil business activity in Saudi Arabia accelerated for a second consecutive month in October, a survey showed on Sunday, with new orders supporting an overall expansion in activity which led to a sharp rise in employment levels.

India is unlikely to go in for hyperloop technology for ultra high-speed trains in the near future as the technology is at a 'very low level' of maturity and may not be economically viable at the current juncture, NITI Aayog Member V K Saraswat said on Sunday. Saraswat, who is heading a committee to explore the technological and commercial viability of the Virgin Hyperloop technology, further said some foreign companies have shown interest to bring the technology in India. «Hyperloop technology as far as we are concerned, we found that the offer which came from foreign countries are not very viable options.

how to drive. He said that no one had dreamed that the pharma company would gift them a car which surprised the employees. One of the employees who received the new car, Shilpa said, "I have completed eight years here...

Economic Times, Sweden's Saab will set up a new facility in the country that will manufacture shoulder-fired rockets. Citing sources, the English daily added that the ₹500 crore FDI proposal was cleared last month. Mint could not independently verify the report.