Manufacturing Financial News

V-Guard Industries Q2 performance, that failed to lift investor confidence as the share prices declined by more than 1% since results. The V-Guard stock after touching 52-week high in September, however, has been trading sideways ever since. V-Guard- Industries' key segments - Electronics and Electricals - reported a double-digit revenue growth.

Disclaimer: The text below is an advertorial article that is not part of  Cryptonews.com  editorial content.

Investing.com-- Gold prices rose on Thursday, encouraged by a weaker dollar and Treasury yields after the Federal Reserve struck a less hawkish tone than expected, although gains in the yellow metal were limited by increased risk appetite. 

Investing.com — European stock markets are expected to open higher Thursday, following strong gains on Wall Street on rising hopes that the Federal Reserve has completed its run of interest rate hikes.

Investing.com-- Most Asian currencies strengthened on Thursday, while the dollar fell sharply after mixed signals from the Federal Reserve ramped up bets that the central bank will not raise interest rates further. 

Skipper jumped 7.4% to Rs 252.3 in Thursday's trade on BSE after the firm won orders worth Rs 924 crore from Power Grid Corporation of India and for several other domestic T&D projects, including Telecom. Skipper said in an exchange filing that the firm won orders in the domestic T&D business of Rs 788 crore from Power Grid Corporation of India Ltd (PGCIL), and orders worth Rs 136 crore for several other domestic T&D projects including Telecom. At 11.22 a.m., the scrip was trading 3.2% higher on BSE. Meanwhile, Skipper has also given multibagger returns to its investors as the stock has gained nearly 110% in the last six months, while it has gained over 220% in the last two years and over 400% in the last three years. Sharan Bansal, Director Skipper, said, «We are pleased with the new order inflows of Rs 924 crore from PGCIL and other customers, the consistent order inflows in the T&D business have led to a total order in-flow YTD of Rs 2,727 crore, registering an impressive ~220% growth over last year till date.» Bansal further added, «Going forward, the marketplace looks exciting and ripe with opportunities.

Tata Motors Q2 Results: Tata Motors, the passenger cars and commercial vehicle manufacturer, is set to announce its financial results for the quarter ended September 2023 today. The automobile major is expected to remain profitable during the quarter as against reporting a net loss in the corresponding quarter of last fiscal.

Meanwhile, on a consolidated basis, net revenue went up 4% to Rs 3,905 crore, from Rs 3,764 crore in Q2FY23. EBITDA (Earnings before interest, tax, depreciation and amortisation) increased to Rs 597 crore, as against Rs 305 crore in the year-ago period. The margin for the quarter under review came at 15.11%, up from 7.91% in the year-ago period. The tyre maker also approved an investment of Rs 1,025 crore for manufacturing capacity expansion.

top wealth creators in the Indian share market. It had a rock-solid balance sheet, close to zero non-performing assets (NPA), and the company doled out consistent dividends even during times of distress. Not to mention its resilience stock price performance.

Hero MotoCorp share price rose over 1% in early trade on Thursday after the automobile company reported decent earnings for the quarter ended September 2023. Hero MotoCorp shares rose as much as 1.86% to ₹3,149.95 apiece on the BSE.

₹3,994 crore in the second quarter of FY24 led by lower commodity prices, operating leverage and volume ramp-up at Jaguar Land Rover (JLR), as per average estimates of six brokerages. The company’s India business performance was a mixed bag as commercial vehicle (CV) volumes grew 3.5% YoY while passenger vehicle (PV) volumes fell 3% YoY.

Investing.com-- Oil prices jumped from a one-month low in Asian trade on Thursday as weak U.S. economic readings and middling comments from the Federal Reserve saw traders pricing in a diminished chance of more interest rate hikes, denting the dollar.

Investing.com-- Most Asian stocks rose on Thursday, buoyed by a rally in the technology sector as somewhat middling comments from the Federal Reserve spurred bets that the central bank was done with its run of interest rate hikes. 

Treasury yields as markets grew more convinced the Federal Reserve was done with its aggressive monetary policy tightening cycle after it left rates unchanged. The Fed on Wednesday held interest rates steady as widely expected, as policymakers struggled to determine whether financial conditions may be sufficiently tight to control inflation. However, Fed Chair Jerome Powell acknowledged that a recent market-driven rise in Treasury bond yields, home mortgage rates and other financing costs could have their own impact on the economy as long as they persist. The decision lifted sentiment in Wall Street, which spilled over into the Asia day, giving a small boost to the risk-sensitive Australian and New Zealand dollars. The Aussie rose 0.5% to a three-week high of $0.6426, while the kiwi similarly jumped more than 0.5% to hit a two-week top of $0.58825. The dollar edged broadly lower alongside U.S. Treasury yields which touched multi-week lows in early Asia trade.

London | The federal government is reluctant to step in with a bailout for Tritium, the embattled maker of electric vehicle chargers, while the company’s managers and investors are still working out next steps, Industry Minister Ed Husic has said.

Dixon Technologies and Karbonn Group have been able to nearly equal the cost of manufacturing in India with that in China, executives said. They have been able to do so by learning from Chinese methods and will invest in automation to further pare expenses.

goods and services tax (GST) revenue rose 13% in October to ₹1.72 lakh crore, the second highest monthly collection since the levy was rolled out in July 2017, riding robust festive demand and improved compliance. However, the seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) slipped to 55.5 in October from 57.5 in September, its slowest expansion since February. Other fast-moving indicators remained robust. Auto companies dispatched a record 391,472 passenger vehicles to dealers last month, up 16.3% from 336,679 the year earlier. Indian Railways' freight loading rose 8.47% in October to 129.03 million tonnes.

Day trading guide for today: Domestic equity indices Sensex and Nifty 50 extended their losses into the second consecutive session amid mixed global cues. Nifty 50 closed at 18,989.15, down 90 points, or 0.47 per cent, while the 30-share pack ended 284 points, or 0.44 per cent, lower at 63,591.33. Midcap and smallcap indices also suffered losses but they still outperformed the benchmarks.

A jury in Illinois has ordered Chicago-based Conagra Brands to pay $7.1 million to a Pennsylvania woman who was badly injured in 2017 when a can of cooking spray ignited in a commercial kitchen at her workplace and set her aflame

Global Market Intelligence. Though the October PMI Manufacturing data was above its long-run average of 53.9, it was the slowest rate of expansion recorded since February. The 50-mark separates expansion from contraction.

NEW DELHI : Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina on Wednesday launched three India-assisted development projects, two of which are expected to boost trade and improve connectivity with the Northeastern states. “In this journey of nine years, the inauguration of the Akhaura-Agartala rail link today is a historic moment. This is the first rail link from India’s northeastern states to Bangladesh," said Modi at a joint press briefing.