Manufacturing Financial News

stock market, several midcap stocks achieved significant milestones by reaching new 52-week highs on October 13, reflecting positive market sentiment and the growth potential of these companies. These notable performances offer investors a diverse range of opportunities in the midcap segment. The data was sourced from StockEdge at 1:30 p.m., and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.

euro zone’s economy is increasingly falling behind America’s. As we report, the worst-suffering European economies are grappling with inflation of over 10%, rapid ageing, high public and private debts and exposure to autocracies. This week the IMF said the euro-zone economy would grow by only 0.7% in 2023.

Stock market today: Shares of Servotech Power Systems Ltd has been in uptrend after ushering in new year 2023. This NSE listed stock has delivered over 360 per cent return to its positional shareholders in year-to-date (YTD) time and it looks that some more steam is still let in this small-cap stock.

Fletcher Building has accused Western Australia’s largest homebuilder BGC of blame-shifting and making unfounded allegations over plumbing pipe leaks in 11 per cent of new houses built in WA between 2017 and 2022 which used a specific Fletcher product.

monetisation opportunities for operators such as Bharti Airtel and Reliance Jio as they complete one year of service launch this month, said Qualcomm India president Savi Soin. He told ET that the first year of 5G has been a great success, with prices of smartphones coming down and operators rolling out networks at a fast pace. “It’s a great success. The original equipment manufacturers (OEMs) and operators are bringing new use cases.

The independent directors of ailing packaging group Pact Group have told shareholders to reject a takeover bid by Rich Lister Raphael Geminder, who already owns just over 50 per cent of the company.

medical devices can continue to import and manufacture the devices for another six months if they have applied for licences, the government said on Thursday, providing a major relief to the industry. The Central Drugs Standard Control Organisation (CDSCO) had set the October 1 deadline for bringing ‘class C’ and ‘class D’ medical devices under regulation as part of quality control efforts. To obtain the licences several manufacturers had submitted applications, but the government failed to provide them on time.

Piyush Goyal on Thursday asked the domestic industry to accelerate production activity and make India a global manufacturing hub. He was addressing industry leaders at a chintan shivir (brainstorming session) where issues related to creating a manufacturing ecosystem, maintaining quality standards, promoting domestic value addition, government policies and support, and fostering industry agility were discussed. «He (Goyal) asked the industry to accelerate production activity and contribute to making India a global hub for manufacturing,» the commerce and industry ministry said in a statement. Representatives from industry bodies CII, FICCI and Assocham, and the automobile sector, along with knowledge partners BCG and McKinsey, participated in the deliberations. «The focus was to understand and deliberate on increasing manufacturing capacities across various sectors and enhance contribution to GDP by 2030,» the ministry said. The discussions took place on 12 sectors, including textiles, capital goods and defence.

The Internal Revenue Service says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus penalties and interest

The White House has selected the Philadelphia area and West Virginia for two regional hubs to produce and deliver hydrogen fuel, which is an important part of the Biden administration's clean energy plan

electric cars, a move aimed at laying a level playing field for the industry. Local manufacturing will also boost employment generation while bringing down overall car prices. The Department for Promotion of Industry and Internal Trade (DPIIT), which operates under the aegis of the ministry of commerce & industry, has commenced discussions to put in place a scheme for subsidising electric four-wheeler makers linked to investments made by these companies for producing vehicles in the country, senior officials in the know told ET.

Ola Electric, Ather Energy, TVS Motor Company, and Hero MotoCorp have collectively deposited ₹129.30 crore with IFCI Ltd, a state-run non-banking finance company. This is part of the ₹312.42 crore in total refunds these companies need to make to electric two-wheeler (e2w) buyers following allegations of mispricing and wrongful claims of government subsidies. According to a top official at the heavy industries ministry, a sum of ₹183.15 crore has been paid back to e2w buyers so far.

₹10,000 crore to set up a 3 million tonnes per annum (mtpa) steel manufacturing unit for group entity Vulcan Steel in Andhra Pradesh."Exciting news! Mint is now on WhatsApp Channels

₹1.25 trillion ($15 billion) to its China headquarters from India since 2014, while not paying any taxes in India. Rai is accused of helping set up Vivo’s India operations. Lava International is a beneficiary of the Centre’s production-linked incentive (PLI) scheme for domestic smartphone manufacturing.

NEW DELHI : The board of Maruti Suzuki India (MSI) Ltd, the country’s largest carmaker, will meet on 17 October to consider issuing preferential shares to parent Suzuki Motor Corp. to acquire its entire stake in Suzuki Motor Gujarat (SMG), the Indian carmaker told exchanges on Thursday. SMG, a contract manufacturer for Maruti Suzuki since 2014, has an annual production capacity of close to 750,000 units.

JPMorgan’s equities desk was looking for buyers for $165 million worth of Ingenia Communities Group after the market closed on Thursday, representing about 10 per cent of the company.

Electric bus outfit TrueGreen Mobility is set to hit the fundraising trail again, setting the scene for investors to cross-check punchy growth forecasts from previous pre-IPO rounds.

NEW DELHI : The full-year budget, to be presented in Parliament after the national elections, will likely focus on expenditure reforms and encourage businesses and individuals to shift to the new simplified and exemption-less tax regime, said Bibek Debroy, the chairperson of Prime Minister Narendra Modi’s Economic Advisory Council (EAC-PM). In an interview, Debroy said by the time the full-year budget is presented, the terms of the Sixteenth Finance Commission to decide on the sharing of the Centre’s divisible pool of taxes with states for the five years from 2026-27 will come out, indicating overall expenditure reforms needed at central and state levels. India’s economy is expected to grow in the range of 6.5-7% in the medium term, Debroy said.

NEW DELHI : India’s economy received a dual boost as retail inflation cooled in September, retreating within the central bank’s comfort zone. Simultaneously, factory output surged into double-digit growth territory in August, scaling a 14-month high, indicating an upswing in economic momentum. Consumer Price Index (CPI)-based inflation eased for the second consecutive month in September to 5.02%, aided by a slower rise in vegetable prices, official data showed on Thursday.

NEW DELHI : Qualcomm intends to build its China model in India where it will support the local semiconductor ecosystem by licensing technologies to local companies and startups, and bring volumes for production at semi conductor fabrication units that are expected to come up in the country in the long run, Qualcomm’s newly-appointed India president Savi Soin said in an interaction with Mint. “Our CEO has said that if fabs or Outsourced Semiconductor Assembly and Testing (OSATs) come to India, we are going to bring business here. Any conversation we’re having with partners or government is that we bring tech and volumes.

NEW DELHI : A united front of mothers combatting the menace of vaping addiction among Indian youth has written to women parliamentarians, including Nirmala Sitharaman and Smriti Irani, flagging the easy accessibility of vaping devices and urging them to join their cause. In their letter, the 'Mothers Against Vaping' highlighted that despite the ban on e-cigarettes and vaping devices, their use among children and youth has surged to alarming proportions.