Manufacturing Financial News

Heavyweight creditors, a pair of Asian private equity firms and a reclusive rich lister. Here’s a messy deal to sink your teeth into.

Treasury yields surged this week, sparking a broader selloff in global bond markets as investors brace for higher interest rates for longer. Longer-dated US government yields reached levels last seen in the financial crisis, fueled in part by strong job-market data. That culminated with a report at the end of the week showing employment unexpectedly surged last month, bolstering the case for another Federal Reserve rate hike. Governments took advantage of cheap borrowing costs during the pandemic to safeguard their economies.

U.S. investigators have confirmed that a mechanical issue caused the seaplane crash that killed 10 people off an island in Washington state last year

Starting next year, people who want to buy a new or used electric or plug-in hybrid vehicle will be able to get U.S. income tax credits at the time of purchase

Investor Charlie Munger, Warren Buffett’s right-hand man for more than five decades, has made a $40 million gift to a California museum he has supported in the past

Between January-August 2023, deals worth $1.2 billion were announced in the Indian EV (electric vehicle) ecosystem. That’s on track to overtake the funding announced during all of 2022, which saw 131 deals worth $1.9 billion, according to Tracxn, a data intelligence platform. The sector has witnessed a total of $302 million in funding in Q3 of 2023. That’s a 60% growth compared to the $188 million raised in Q3 2022. Funding has been on an uptrend since Q3 2022, according to Neha Singh, co-founder of Tracxn. MANY UNICORNS EXPECTED “We should expect to see the first of many unicorns being minted in the EV space in the next two years. We could also see bigger financial and strategic players checking into the top companies,” said Arpit Agarwal, director of Blume Ventures. There could be consolidation in the electric 2W space too. Overall, deal street is going to be busy, he said.

The Food Safety and Standards Authority of India (FSSAI) is analysing tea samples from various parts of the country to determine whether these were adhering to the safety standards, an official said on Saturday.

Taiwan is looking forward to joining hands with India and other like-minded partners to strengthen the global supply chain and safeguard peace and stability across the Taiwan Strait and Indo-Pacific, Taipei's de-facto Ambassador Baushuan Ger has said. Without naming China, the envoy said Taiwan, confronted by «unceasing cross-Strait military intimidation and grey-zone threats», has continued to strengthen its self-defence capabilities and has consistently strived to serve as a force for good.

In light of recent data showcasing a remarkable surge in US nonfarm payrolls, the cryptocurrency realm, particularly Bitcoin (BTC), seems to be set on a trajectory of its own. 

New Delhi: Ahead of festivals, the Food Safety Standard Authority of India (FSSAI) has directed sweet manufacturers to follow FSSAI guidelines, follow good manufacturing practices and purchase raw materials like milk, khoya and paneer from licensed vendors in FSSAI lists. The idea is to lower the risk of food adulteration commonly found in sweets during festivals. “Around 150 sweet manufacturers and associations attended the meeting held at FSSAI and directed them to ensure safety and good quality of edibles and raw materials especially milk and its products which are more susceptible to adulteration and contamination due to its high demand.

Investing.com — U.S. stocks were rising, erasing earlier losses after a stronger than expected jobs report for September.

(This story originally appeared in on Oct 06, 2023)

Fast-fashion giant Shein is expected to announce Friday new leadership overseeing its global growth initiatives as the company seeks to diversify its supply chain beyond China. Marcelo Claure, a former SoftBank Group executive, will serve as group vice chairman, a New York-based role that involves expanding manufacturing beyond China to be closer to Shein consumers, he said. “We’re not saying that we’re replacing China," Claure said.

Prada is collaborating with NASA through private company Axiom Space to create cutting-edge space suits for astronauts. These next-generation space suits are slated for use in NASA's Artemis Mission III will follow Artemis 2, which will involve flying a capsule around the Moon late next year or early in 2025. «Prada has considerable experience with various types of composite fabrics and may actually be able to make some real technical contributions to the outer layers of the new space suit,» Professor Jeffrey Hoffman told BBC.

Fast-moving consumer goods (FMCG) majors such as Marico Ltd., Godrej Consumer Products, and Dabur India Ltd. released their quarterly business updates, providing insights into demand trends. While signs of demand improvement were evident, companies highlighted challenges such as rising food prices and uneven distribution of rainfall, which hampered rural demand recovery.

LAM Research, a global provider of semiconductor equipment and services, has shown interest in setting up a new lab in Karnataka. LeoLabs, an operator in the satellite operations space, also intends to set up a centre of excellence (CoE) for research in space technology in Karnataka, while Tsecond, a growth-stage portfolio company backed by Boeing and Solar Industries India, has shown interest in setting up an R&D centre in Bengaluru.

Jonjua Overseas, Advance Lifestyles and RMC Switchgear — will trade ex-bonus next week. These three stocks have delivered multibagger returns to investors so far this year. Jonjua Overseas had earlier announced a bonus issue in the proportion of 9:50, which means for every 50 shares investors hold, they will be credited 9 additional shares. The Board of the company has fixed October 10 as the record date for the proposed bonus issue and the stock will go ex-bonus on the same date. A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

diamond prices has created a golden opportunity for individuals looking to own a piece of timeless beauty, as prices are now more affordable than they have been in years. This has also opened up new opportunities for Indian diamond businesses to attract customers from countries like the US, the UK, and China.

Valiant Laboratories had a decent listing at the bourses on Friday with a premium of around 21% over the issue price. The IPO was priced at Rs 140 at the upper end. The strong listing can be attributed to the company’s improving financial performance in the recent past, wherein revenues grew at a CAGR of 35% during the FY21-23 period. «Further, the paracetamol API industry is expected to clock a 5-7% CAGR between FY23 and FY27,» said analysts, while suggesting investors can hold the stock for the long term if they wish to. «With strong operational efficiencies, Valiant Laboratories has demonstrated high ROCE, positive operating cash flows, strong balance sheet, pursued growth opportunities and better managed unanticipated cash flow variations which will drive the company's performance going forward,» said Prathamesh Masdekar, Research Analyst, StoxBox. «We, therefore, remain optimistic on the company and recommend investors who have received allotment to hold their shares and consider buying on dips as well from a medium to long term perspective,» Masdekar added. The IPO was well-received by investors with a subscription rate of 29.76 times. Net proceeds from the issue will be utilised towards part-financing its capex, funding working capital requirements and other general corporate purposes. Valiant Labs is an active pharmaceutical ingredient (API/bulk drug manufacturing company, with a focus on producing Paracetamol.

US Treasury yields which hit a 16-year high. This has ignited a wave of risk aversion among investors. However, certain stocks have defied the odds and garnered bullish interest during Wednesday's trading session.

Russia’s government said on Friday it had lifted a ban on pipeline diesel exports via ports, removing the bulk of restrictions installed on Sept. 21.