Manufacturing Financial News

Mike Cannon-Brookes’ investment partner in Sun Cable, Quinbrook Infrastructure Partners, plans to build a polysilicon plant in Queensland costing up to $10 billion to supply solar panel manufacturers.

By Dan Levine and Hyunjoo Jin

By Arathy Somasekhar

New Delhi: India is set to emerge as a design and manufacturing hub for semiconductors in the next five years, said Ashwini Vaishnaw, the Union minister for electronics and information technology, in a conversation with Hindustan Times editor-in-chief R. Sukumar during a virtual session that kick-started the 21st edition of the Hindustan Times Leadership Summit on Tuesday. India, Vaishnaw argued, has three core strengths that will power its growth in this sector.

Blue Jet Healthcare IPO is finalised on Tuesday. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

gross domestic product (GDP) was essentially unchanged in August, Statistics Canada said Tuesday, pointing to the impacts of extreme weather.Higher interest rates are weighing on economic growth as people and businesses pull back on spending. Drought conditions and forest fires raging through the month also helped to pull down economic growth.Resource extraction sectors such as mining and oil and gas saw growth in August, while manufacturing and the accommodation and food services industries faced declines.Retail trade also fell for the third month in a row.Air, rail and water transportation sectors all saw gains, with StatCan saying the latter’s rebound fully offsetting declines tied to the B.C.

Larsen and Toubro (L&T) is foraying into fabless semiconductor chip design by setting up a subsidiary, the engineering major said on Tuesday. The company has approved an investment of Rs 830 crore to set up a wholly-owned subsidiary that will be engaged in the business of fabless semiconductor chip design and product ownership and not manufacturing, said L&T chief financial officer, R Shankar Raman. «At the moment we are looking at fabless semiconductor chip design business as a less investment, high technology business. We will have an R&D center for fabless semiconductor chips that may be in the US,» said Shankar Raman post the company's earnings call on Tuesday.

Shaktikanta Das on Tuesday said the growth momentum in the economy continues to be strong, and that the GDP number for the second quarter will surprise everyone on the upside. Shaktikanta Das said that geopolitical uncertainty is the biggest risk to global growth but was quick to add that India is better placed to deal with any potentially risky situation.

wealth management companies — many of which had their origins as boutique city-based firms — are expanding to tier-2 and -3 cities, as wealth in these places has ballooned in the past two-three years, opening new markets for them. This is leading to a surge in demand for wealth managers, or private bankers, triggering a talent war and an all-time high churn at the top deck, said senior company executives. Emergence of new millionaires in towns such as Morbi, Vapi, Panipat, Ludhiana, Tiruppur, Raipur, Dehradun, Jamshedpur and Rajkot — among several other tier-2 and tier-3 locations — is prompting outfits such as Motilal Oswal Private Wealth, 360 ONE Wealth & Asset Management (formerly IIFL Wealth) and WhiteOak Capital AMC to open offices there and ramp up their teams, as they cater to clients worth Rs 2 crore to over Rs 1,000 crore, said the executives. “Wealth creation is no longer the forte of the top cities, neither is it confined to the coffers of the ultra-rich,” said Prateek Pant, chief business officer, WhiteOak Capital, which has set up offices in 50 new micro markets like Guwahati, Amritsar, Jalandhar and Trichy in the last one year.

The advisory applies to lubricating drops and it includes lubricating drops sold by six companies, including eye drops from CVS Health, Target, Rite Aid, and Cardinal Health. The FDA has asked consumers to stop using these products immediately and should avoid purchasing any of the remaining products that remain on pharmacy shelves.

₹122. Investors can bid for a minimum of 1000 shares and in multiples thereof.

The profit was higher than the ET Now Poll estimate of Rs 2,858 crore. Consolidated revenues for the second quarter rose 19% to Rs 51,024 crore, primarily aided by improved execution of the large order book and accelerated progress in the projects and manufacturing portfolio. The company received orders worth Rs 89,153 crore at the group level during the quarter ended September, 2023, registering robust growth of 72% year-on-year. More to come....

Key Industry Solutions to Drive Growth TMEIC provides various sophisticated solutions that power progress across a multitude of industries. From metals and mining to cement, renewable energy, oil and gas, crane systems, and many more. Here are the prominent solutions that help TMEIC stand out: TMEIC’s other core solutions and services include modernization, operations support systems, power quality, process control, production line innovation, and much more.

By Rania Gule

India’s V-Guard Industries reported second-quarter profit on Tuesday in line with analyst estimates, as more Indians bought air conditioner stabilisers and inverters in a quarter that saw the country’s driest monsoon in over a century.

Nifty 50 today: Snapping their two-day winning run, frontline indices Nifty 50 and the Sensex resumed their downward march on Tuesday, October 31, amid mixed global cues. Major Asian markets declined today as data showed Chinese manufacturing activity contracted. According to a Reuters report, data from the National Bureau of Statistics showed that China's official purchasing managers' index (PMI) fell to 49.5 in October from 50.2, dipping back below the 50-point level.

modern electric vehicles (EVs) with more advanced “solid-state" versions. These new types of superbatteries have long promised faster charging and much greater driving range. Finally, after years of technical problems, efforts to make them are coming to fruition, with the first solid-state Li-ion batteries due to go into production within the next few years.

kiranas, dominate with a 90% share of the Indian grocery retail market. Meanwhile, organized retail, or modern trade, introduced about two decades ago, has gradually expanded due to its vast product range, self-service, and shopping experience. The differences between modern and traditional retail centre on store formats, product range, technology, and digital integration.

Investing.com -- U.S. stock futures were mixed on Tuesday, with the Federal Reserve's all-important policy decision later in the week front and center. Elsewhere, economic bellwether Caterpillar (NYSE:CAT) is set to release its latest quarterly earnings, while hopes for a recovery in Chinese growth were dented by disappointing manufacturing activity data.

Investing.com — European stock markets edged higher Tuesday, as investors digested more corporate earnings ahead of the release of key regional growth and inflation data, overshadowing disappointing Chinese activity data.

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