Manufacturing Financial News

Marico Ltd expects household demand to improve in the second half of FY24, provided no major global headwinds impact the commodity cycles. On Monday, Marico reported a 3% jump in domestic volumes for the September quarter. Demand for fast-moving consumer goods was broadly in line compared to the preceding quarter, the company said.

A business group that advocates for clean energy estimates that 403,000 jobs will be created by the 210 major energy projects announced since the Inflation Reduction Act took effect in mid-2022

By Leroy Leo and Mariam Sunny

WASHINGTON (Reuters) — U.S. construction spending increased in September, but momentum is slowing as the factory building boom fades.

Larsen and Toubro (L&T) is following in the footsteps of other Indian conglomerates like Vedanta and Tata Group, foraying into fabless semiconductor chip design. The company plans to invest Rs 830 crore through a wholly-owned subsidiary which will be engaged in the business of fabless semiconductor chip design for the automotive as well as industrial sector. L&T chief financial officer, R Shankar Raman tells Kalpana Pathak and Romita Majumdar, that as part of the company's strategic plan, it has always been looking for alternate sources of business for future.

ASUS [SmartChoice] Vivobook 16X (2022), 16-inch (40.64 cms) WUXGA, AMD Ryzen 5 5600H, Thin and Light Laptop (8GB/512GB SSD/Integrated Graphics/Win 11/Office 2021/Quiet Blue/1.8 kg), M1603QA-MB502WS The ASUS [SmartChoice] Vivobook 16X (2022) offers a 16-inch WUXGA display powered by an AMD Ryzen 5 5600H. With 8GB RAM, 512GB SSD, and Windows 11, it's a top-tier choice for both performance and aesthetics. Acer Aspire 3 Intel Core i5 12th Generation Laptop (Windows 11 Home/16GB/512 GB SSD/MS Office) A315-59 with 39.6 cm (15.6") Full HD Display, 1.7 Kg, Silver The Acer Aspire 3 is a value-packed laptop with a 12th Gen Intel Core i5, 16GB RAM, and 512GB SSD.

In July, when worries about China’s economic recovery were first beginning to percolate more widely, analysts fixated on a curious bit of language from the Politburo: the recovery was developing in a winding, “wave-like" manner. Nearly half a year later, that characterization is looking more and more apt. After a better third quarter, the first two key reads on China’s economy in October both landed with an audible thud.

Indian equity indices fell for the second day in a row on Wednesday on selling in metal, power, auto and banking stocks. Foreign institutional investors (FIIs) on Wednesday sold stocks of Indian companies worth ₹8,491.17 crore and bought stocks for ₹6,674.26 crore, resulting in an outflow of ₹1,816.91 crore, according to NSE data. Domestic institutional investors (DIIs) bought equities worth ₹7,617.09 crore and offloaded shares worth ₹5,995.04 crore, resulting in an inflow of ₹1,622.05 crore, the exchange data showed.

Boeing has tried for years to turn itself around. Its new best hope is a former executive who had a front-row seat to the jet manufacturer’s struggles. Pat Shanahan, a 30-year Boeing veteran and engineer by training, has taken over as interim chief executive officer of one of Boeing’s biggest and most problematic suppliers.

By Lawrence White

Investing.com -- Attention is fixed on the Federal Reserve's interest rate announcement on Wednesday, with investors expecting the central bank to keep borrowing costs steady. Comments from Fed Chair Jerome Powell will be in the spotlight following the decision as markets attempt to gauge where officials see policy heading in the future. Elsewhere, Advanced Micro Devices (NASDAQ:AMD) unveils its projection for 2024 sales of its key AI-optimized chip.

JK Tyre Q2 Results: JK Tyre announced its July-September quarter results for fiscal 2023-24 (Q2FY24) on Wednesday, November 1, reporting a surge of 371 per cent in consolidated net profit at ₹242 crore, compared to ₹51.31 crore in the corresponding period last year. The leading tyre manufacturer's revenue from operations in the second quarter of current fiscal came in at ₹3,897.53 crore, registering a rise of 3 per cent, compared to ₹3,756.52 crore in the year-ao period.

Mr. Vimal Kumar, Managing Director of Best Agrolife Ltd, expressed his enthusiasm for this milestone, stating, “Weed management has always been a critical factor in optimizing rice crop yields. Successful weed control is essential for obtaining optimum rice yields.

Hero Motocorp Chairman Pawan Munjal received approval for his proposed 20% reduction in his salary. Earlier, he had volunteered for a salary cut after the separation of roles of Chairman and CEO of the company. Also Read: Hero Motocorp Q2 results: Net profit jumps 47% to ₹1,054 crore; revenue up 4% The Board of Directors of the Company, on Wednesday, announced the quarterly earnings of the company for the September quarter.

JM Financial has initiated coverage on the wire and cable manufacturer RR Kabel with a ‘buy’ call. The brokerage is bullish on the stock on the back of its industry-leading revenue growth track record, strong outlook, industry tailwinds, and healthy performance. It has a target price of ₹1,650 for the stock, implying an upside of over 21 percent in 12 months.

The report cited tighter labour markets and rising inflation as some of the major concerns influencing salary increase budget changes in companies for next year. However, compared to 2022, more than half of companies have increased their salary budgets this year, while a quarter have raised their budgets above the projections they made in December 2022, the survey showed. Technology, media and gaming, financial services and retail sectors are expected to see the highest salary increase of 10% in 2024. Companies in the banking, financial services and insurance (BFSI) sector (10% vs 9.8%), retail (10% vs 9.9%) and captives (9.9% vs 9.8%) have projected marginally higher increases for 2024 as compared to the actual salary increase in 2023 due to the continued demand for talent. “Companies across industries are still closely monitoring their cost structures,” said Rajul Mathur, consulting leader, work and rewards, WTW India. The Salary Budget Planning Report was conducted in April and May 2023 with around 32,512 sets of responses from companies across 150 countries. The survey had 708 participants from India.

Ambuja Cements, the Adani Group cement manufacturing company, reported a four-fold jump in its standalone net profit for the quarter ended September 2023. The company’s net profit in Q2FY24 surged to ₹643.84 crore from ₹138.9 crore, in the same quarter of last fiscal.

The Adani Group-owned cement manufacturing company Ambuja Cements on Wednesday posted profit for the second quarter of FY24 at Rs 792.96 crore, up 751.0 per cent as against Rs 93.18 crore during the same period last year, surpassing estimates. It posted revenue from operations at Rs 7,423.95 crore, up 4.1 per cent in comparison to Rs 7,131.39 crore during second quarter of FY23. According to a CNBC TV18 poll, Ambuja Cements was expected to post Q2 profit at Rs 515 crore and revenue at Rs 4,099 crore for the quarter ended September 2023. The company EBITDA, meanwhile, was up 106 per cent from Rs 1,438 crore to Rs 2,969 crore. 

Toyota’s profit in the latest quarter jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings

Toyota will invest an additional $8 billion in the hybrid and electric vehicle battery factory it’s constructing in North Carolina

Thousands of garment factory workers have taken to the streets of Bangladesh’s capital, Dhaka, and the industrial district of Gazipur to demand better wages