Manufacturing Financial News

Tata Motors on Thursday said it plans to equip over 50 per cent of its overall workforce with new-age auto tech capabilities within five years as part of its strategy to develop skilled and future-ready staff focused on electric vehicles and other emerging technologies in the auto industry. The company, which has over 57,000 employees across different functions, has collaborated with organisations such as ARAI, Bosch, Mathworks, SAE, and Tata Technologies, among others to provide its employees with professional certification programmes in connected, electric, shared and safe (CESS) through its upskilling programme.

Sectorally, buying was seen in capital goods, IT, consumer durables, auto, and bank stocks while power, utilities, healthcare, and telecom stocks witnessed selling pressure. Stocks that were in focus on Thursday include names like Kaynes Technology (up more than 4%), Syrma SGS (rose more than 6%), and Cromandel International (that closed with gains of nearly 2%). Kaynes Technology and Syrma SGS rose over 40% in the last 3 months while Coromandel International also recorded gains of more than 20% in the same time period. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to a analyst Vivek Mashrani on how one should look at these stocks the next trading day entirely from an educational point of view. Here’s what the CFA and Director at Technofunda Ventures Private Limited had to say: Kaynes Technology Kaynes Technology has been forming continuous higher highs with excellent uptrend.

Citigroup Inc. raised its growth forecast for China to 5% this year, as promising data helps build consensus around the nation’s ability to achieve its official government target.

Foxconn to double workforce, investment in India by ‘this time next year’ Foxconn or Hon Hai Precision Industry, is the world's largest electronics maker. It is also a major supplier for Apple - whose newly launched iPhone includes an improved chip, titanium case and video game capabilities. Price however remains unraised, reflecting the global smartphone slump, the report notes.

Chinese tech giant. Huawei, a leader in 5G telecom equipment, has been at the centre of the intensifying US-China rivalry over advanced tech in recent years. The United States and its allies have curtailed its access to major markets and advanced tech — including chip making — over fears its products could allow China to spy on their networks. Taiwan's Minister of Economic Affairs Wang Mei-hua agreed on Wednesday — during questioning by lawmakers — to launch a probe into four tech firms that collaborated with Huawei on chip plants. The four Taiwanese companies are helping Huawei develop an «under-the-radar network of chip plants» in China, Bloomberg reported this week. The companies were identified by Bloomberg as Topco Scientific Co., L&K Engineering Co., United Integrated Services Co.

Hindalco Industries Ltd on Thursday said it will enter into a pact with the Odisha Mining Corporation for long-term supply of Bauxite ore. The company plans to secure Bauxite ore for its proposed 2-million tonnes alumina refinery and 150-MW captive power plant at Kansariguda, Rayagada district, in Odisha.

Chakri Lokapriya, CIO & MD, TCG AMC, says, “Swiggy is now focussing more on volumes given that the festive season is coming which means Zomato will also be forced to do so. Given that the stock has already run up now and given that its focus will have to shift again from profitability towards growth will kind of put a break to the stock.” Let us begin by discussing Bajaj Finance. Given the fact that Bajaj Finance is going to do a QIP, it will position itself well to maintain sufficient liquidity and maintain its margins in the upcoming festive season. So far, consumer demand has been weak across the board, except auto is a different ballgame. For the market, Bajaj Finance valuations will look more attractive. So, in spite of its high valuation, given its leadership position, Bajaj finance will do well as a stock.

agreement for an alliance involving MG Motor India, the Economic Times reported quoting sources. Morris Garages, is a fully-owned subsidiary of China-based SAIC. Legal documentation is on and a formal statement is likely around Diwali, the report said.

Polymatech Electronics, India’s first opto-semiconductor chip manufacturer, has filed its draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise funds through an initial public offering (IPO). According to the draft papers, the company’s offering comprises a fresh issue of equity shares (face value Rs 10 each), aggregating to an issue size of up to Rs 750 crore, through book building route. There will be no offer-for-sale component. Polymatech Electronics proposes to utilise its net proceeds from the issue to purchase new machinery to enhance its existing facility at Oragadam, Kancheepuram, Tamil Nadu. Headquartered in Chennai, Polymatech commenced its journey of designing and producing opto-semiconductor chips in 2019, using the latest European and Japanese technologies. The company is led by Eswara Rao Nandam, Managing Director and an alum of BITS Pilani, with more than three decades of experience in the manufacturing and assembling sectors in electronic components, automobile components, personal electronics and robotics. The company designs, develops, tests and manufactures its opto-semiconductor chips in-house at its state-of-the-art facility located at Oragadam, Kancheepuram, Tamil Nadu.

Also Read: Stocks to buy: HAL, Bharat Electronics, Mazagon Dock among top defence stock picks by Antique Broking Here are top railway stocks to have in your portfolio: IRCON International (IRCON) is engaged in railway EPC works and the railways garner the lion’s share of around 73% of its order book. The company’s order book stands at ₹324 billion as on June 30, 2023. It wishes to foray aggressively in high speed rail, semi high speed, solar and road projects.

Asandas and Sons has moved the Delhi High Court against the government in a dispute pertaining to the Rs 10,900-crore production-linked incentives (PLI) scheme for food processing industries, people in the know said. Asandas and Sons, which manufactures and exports products like French fries and potato wedges under HyFun brand, has alleged that the government arbitrarily amended the terms of the scheme without prior consultation. This, after companies had already submitted their applications. Further, the company said the government has not allowed it to change the terms of its own application despite a change in the nature of the scheme.

Punjab National Bank: The lender said it has recorded a 9.7% year-on-year surge in its total deposits during the September quarter, reaching ₹13.1 trillion compared to ₹11.9 trillion in the previous year. The bank also saw a year-on-year uptick in its current account savings account which grew 2.6%. Marico: The consumer goods manufacturer said it saw a slight dip in second-quarter revenue due to rising food prices and below normal rainfall affecting rural demand.

medical devices such as ventilators, nebulisers, and x-ray equipment to continue production for “a limited period” amid a delay in issuing new regulatory licences, a senior official said. With the Central Drugs Standard Organisation (CDSCO) missing the October 1 deadline to provide licences to them, it is likely that those manufacturers that have already applied may get an extension for a limited period, the official said.

The ASX says it will not allow Magnis Energy Technologies to trade on the exchange after auditors raised concerns about the company’s finances.

Former BHP finance boss Peter Beaven says better technology will play a role in improving productivity but will not alone solve the cost challenge that sends many start-ups overseas and undermines Australia’s ability to add value to its critical minerals.

WASHINGTON (Reuters) — New orders for U.S.-made goods increased more than expected in August and shipments accelerated, supporting views that economic growth strengthened in the third quarter.

ALSO READ: China Evergrande shares suspended, China may have some learnings from US, India says Uday Kotak Earlier, Kotak surprised all by stepping down from his executive role four months ahead of the end of the term. He said many corporates are not going ahead with investments and added that we are witnessing 'significant consolidation and concentration' because of this. The concentration can deliver in the short term, but it is in India's long-term interests to have many businesses flourish, he said.

MUMBAI : The Securities and Exchange Board of India (Sebi) on Wednesday said it is statutorily empowered to lift the corporate veil and find out the truth whenever the interests of the investors are affected or likely to be affected. Sebi’s comments came while arguing in the Bombay Dyeing matter before the Securities Appellate Tribunal (SAT). A bench led by Justice Tarun Agarwala was hearing Bombay Dyeing’s petition challenging Sebi’s October 2022 order against the company.

₹8,043 on Wednesday, before closing about 1% lower. The latest business update of the non-banking financial company for the three months ended September (Q2FY24) suggests it is set to see yet another strong quarter performance. This, in turn, could pave the way for earnings upgrades.

Uday Kotak on Wednesday rued corporate investments getting concentrated in a few groups, and urged the government to «encourage many flowers to bloom». Speaking at India Today Conclave here, the richest Indian banker also said that policy is not skewed, clarifying that he respects the work done by big corporations in creating world-class businesses and specifically named Mukesh Ambani-led Reliance Industries. «I am saying something which is close to my heart, there is a significant concentration of new investments happening only by a few groups,» Kotak said.

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