Manufacturing Financial News

UrbanMatrix Technologies on Thursday said it has raised Rs 6 crore from investors to fund expansion. «The funds will be allocated towards product development, team expansion and expanding into new markets,» the company said in a statement. The company said it has raised Rs 6 crore in a Pre-series A funding round led by Inflection Point Ventures.

major stocks demonstrated significant movements by surpassing their 200-day SMA, signifying potential changes in their stock trends. Let's explore the performance of these stocks. (Data Source: StockEdge) 1. Bata India Bata India Limited is a renowned footwear company.

electric vehicle (EV) maker Wardwizard Innovations & Mobility on Thursday signed an initial pact with the Gujarat government to invest Rs 2,000 crore to develop an EV ancillary cluster by 2024. The proposed investment will be on research and development of electric two-and three-wheelers, setting up a motor assembly unit at the company's Vadodara manufacturing facility, lithium-ion (li-ion) cell production and the development of ancillaries for raw material manufacturing, Wardwizard Innovations & Mobility said in a statement.

The initial public offer (IPO) of Blue Jet Healthcare was fully subscribed on the second day of the bidding process, led by NII and retail categories. The NII portion was subscribed the most at 2.1 times, followed by retail investors at 1.13 times. The QIB part was booked just 1% so far.

On day 1, Blue Jet Healthcare IPO was subscribed 69%, where the retail investors portion was subscribed 78%, NII portion was subscribed 1.37 times, and Qualified Institutional Buyers (QIB) portion was booked 1%. Blue Jet Healthcare IPO price band has been fixed in the range of ₹329 to ₹346 per equity share of face value of ₹2. Blue Jet Healthcare IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

Indian wedding industry was expected to cross $130 billion. Well, this won’t be astonishing to someone who knows that ‘trying the knot’ is the fourth biggest industry in India. In fact, it’s bigger than India’s auto and IT sectors…growing steadily every year.

Altigreen on Thursday launhced its all-new neEV Tez — an electric 3-wheeler. The commercial vehicle manufacturer's neEV Tez features 3-in-one charging that lets the user choose between normal, fast and rapid charging options.

Cement and asphalt group Boral, which has been pressured by some investment funds after dialling back its 2025 carbon emissions targets, averted a strike at its annual meeting on Thursday.

Stellantis says it plans to invest about 1.5 billion euros, or about $1.6 billion, in Leapmotor, a Chinese electric vehicle manufacturer

An Australia-based company is announcing plans to build a campus in New Mexico to expand its research into hydrogen as a source for producing heat for industrial applications

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “we are in for a correction and volatility in the broader market, but it is not because investors are turning risk averse. It is because FIIs are selling largecaps. Mutual funds, in order to buy those largecaps, need to sell mid and smallcaps. It is not necessarily a reversal of risk attitude as much as the opportunity to get good quality, large companies at much reasonable prices. So it is just a reallocation. For a long-term investor, in fact the on-going correction could be a good time to accumulate.” Crude prices have eased off a bit at the start of the week. How do you see this correlation between crude prices and the kind of consolidation that we are seeing on the Nifty play out from here? The spot crude prices may ease up based on local announcements but if you look at the forward crude expectations, they remain in a firm stage both because it is winter setting into the US and in Europe, when the energy heating demand for homes goes up. The Israel-Hamas conflict is adding to the statement by OPEC that there will be at least a three and a half million barrel shortfall for Q4. So in the short term, because of China's slowdown, there may be movement in the spot crude, but otherwise I expect a firm crude trend.

Tech Mahindra reported a weak set of results yet again. Shares of the IT major fell almost 5 percent on Thursday after it reported a sharp fall in its net profit in the September quarter (Q2FY24). It also failed to meet street expectations on both profit and revenue.

Ravi Dharamshi, CIO, ValueQuest Investment Advisors, says “in the older portfolios, we are sitting on probably 10-15% kind of cash. In the newer portfolios, we are sitting on almost 60-70% kind of cash. So again, this just coincides with the market's overall kind of exuberance level. So we will probably end up deploying when the market corrects itself or if the outlook changes.” Traditional investors always shied away from investing in the IPO market, but you have not done that. You bought into recent IPOs and this is public information. In Zaggle, the bulk deal data did indicate that you bought into it. You have bought into Kaynes, another stock. How come now you are saying do not buy, invest in IPOs? I have learned from Rakesh Jhunjhunwala that there is one rule in the market and that is there are no exceptions in this market. You have to understand in an early IPO cycle, there are some companies that come to the market which provide you that opportunity. The IPO market had dried up for almost two years. This was the first lot of the companies that are coming to the market. Yes, we understand the acronym, it is probably overpriced. No doubt about it.

S Krishnakumar, Director, Lion Hill Capital, says “water, capex and water chemicals are big areas where there is a huge amount of growth that is kind of coming through. In addition to that, if you look at the green energy transition, people talk about hydrogen etc. A lot of global companies in India have their foot into those areas and we should look at some of the Indian listed entities of global MSEs. Valuations are a little steep because we are factoring in a lot of the next decade and less of the current numbers which are not as good as supportive valuations. So, one should definitely look at good entry points to get into some of these new trends.” We are seeing the US 10-year bond yield retreat to 4.8%. We are seeing positive global cues, but we are also seeing the Indian index in retreat mode. How should one look at it? In the near term definitely the global construct is not positive. Definitely, rising tensions in the Middle East is creating a lot of uncertainty on how this could go in the next one or two months. Also, the US 10-year has been moving up and hitting a 10-5% and above kind of a mark, bringing into focus the kind of stiff interstates kind of ahead of us for the next six to six months and more.

(Reuters) -Stellantis NV on Thursday announced a 1.5 billion euro ($1.6 billion) deal to acquire a 20% stake in China's Leapmotor (HK:9863) Technology in a move that gives the European automaker a vital foothold in the world's largest auto market.

NEW DELHI : Domestic steel consumption grew strongly in the first half of the financial year in a clear signal that Indian manufacturing continues on a robust growth path despite global headwinds. According to the latest steel ministry data, steel consumption in the April-September period of FY24 grew 15% to 64 million tonnes from the year-ago period.

₹300 crore over three years to rebuild the brand in India, initiate R&D activities and stock products. In the first phase, the firm will manufacture lead acid batteries for automobiles as well as home inverter, uninterruptible power supply systems and voltage stabilizers. Once the Daewoo brand is established, say with 1.5 years, the company intends to introduce consumer durables, such as LED televisions, air purifier and speaker systems, besides offering e-bikes and electric cycles.

Billionaire Chris Ellison says governments must do more than offer debt finance to critical minerals projects, while pre-revenue explorers urged the Albanese government to avoid funnelling the $2 billion of new critical minerals funding to established miners who are already “printing money”.

More than 40 interested buyers have lined up for iconic frozen baked goods and desserts brand Sara Lee, which buckled after it struggled to pass through price increases to its customers from the higher cost of doing business.

The boss of one of Australia’s largest unions has cautioned investment funds against pushing too hard for large manufacturers in hard-to-abate industries to cut emissions faster than offshore rivals.

By Gilles Guillaume and Giulio Piovaccari