Manufacturing Financial News

leasing across 9 cities increased by 33% Y-o-Y and touched 15.8 mn. sq.

Promises of money today create expectations of more money tomorrow As in the 1990s, government attempts to boost their chip industries are running into trouble. Morris Chang, the founder of tsmc, a big Taiwanese producer, told Nancy Pelosi, a senior Democrat, that American efforts to rebuild chip manufacturing at home were doomed. The firm says that production at its first plant in Arizona will be delayed until 2025 due to a shortage of specialist workers.

Also Read: Stocks to buy this week: L&T, Exide, Aurobindo Pharma, BHEL among 12 technical picks; do you own any? Hindustan Aeronautics has a monopoly-like position in India’s defence aerospace sector. Along with this, the government’s push to procure indigenously designed & developed defence aircraft, the company is likely to be in a sweet spot to benefit from a long-term demand opportunity.

Maruti Suzuki, Hero MotoCorp, Tata Motors, Bajaj Auto fell anywhere between 1% to 3%. Decline in auto stocks dragged Nifty Auto index over 1% lower. The index was also the top sectoral loser on NSE.

fundamentally strong small-cap stocks that could thrive in 2024. Dhanuka Agritech is one of India’s leading agri-input (pesticides and chemicals) companies. The company’s portfolio spans a wide range of crop protection products such as herbicides (accounting for 39% of the total revenues in 2023), insecticides (29%), fungicides (20%), and plant growth regulators (12%).

Such practices assume importance as the information and communication technology (ICT) sector accounts for 1.8%-3.9% of global greenhouse gas emissions, and data centers take up 3% of annual energy consumption, a rise of 100% in the last decade. Sustainable computing or green computing is a practice of maximising energy efficiency and minimising the negative impacts on the environment. It involves green practices in the ways computer chips, data storage systems and software are designed and used. According to a report published by the Association for Computing Machinery, “The energy demands and carbon output of computing and the entire ICT sector must be dramatically moderated if climate change is to be slowed in time to avoid catastrophic environmental damage.” Sudhir Goel, Chief Business Officer of Acer India, says, “We have joined the global RE100 initiative, pledging to utilise 100% renewable energy by 2035.

India's factory activity expanded at the slowest pace in five months in September but remained solid, with strong demand driving business confidence to its highest level this year, despite increased inflationary pressures, a private survey showed. The Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell to 57.5 last month from 58.6 in August, missing the Reuters poll forecast for 58.1. That marked the 27th straight month of the index being above the 50-mark separating expansion from contraction. «India's manufacturing industry showed mild signs of a slowdown in September, primarily due to a softer increase in new orders which tempered production growth,» said Pollyanna De Lima, economics associate director at S&P Global Market Intelligence. «Nevertheless, both demand and output saw significant upticks, and firms also noted gains in new business from clients across Asia, Europe, North America and the Middle East.» New orders and output rose sharply despite the sub-indexes easing from August, driven by both domestic and foreign demand. International demand grew for the 18th month in a row. That bolstered optimism and pushed business confidence to a nine-month high. It also prompted firms to increase headcount.

JSW Infrastructure: The initial public offering (IPO) of India’s second-largest commercial port operator JSW Infrastructure received a strong response from investors and will make its debut on the Indian stock market exchanges on Tuesday, October 3. JSW Infrastructure shares are likely to list with a decent premium on stock exchanges given the strong subscription numbers and healthy prospects of the company. JSW Infrastructure IPO listing will take place within the T+2 timeline (IPO closing date + 2 working days).

equity markets witnessed decent gains on Friday with both the benchmark indices ending around half a percent higher. The Nifty 50 ended the month of September with a gain of 2% while the Sensex rose 1.5%. Investors will now focus on the Reserve Bank of India’s (RBI) monetary policy outcome this week and the upcoming quarterly earnings.

JSW Cement, the building-materials business of steelmaker JSW Group, is in initial talks with Germany's Heidelberg Materials to acquire the latter's 13.4 million-tonne-a-year cement businesses in India, industry sources aware of the talks told ET. The people cited above said the discussions, currently bilateral, began after the JSW Group made an unsolicited offer to acquire Heidelberg's local entities that primarily have capacities in peninsular India. The world's second-biggest cement market, both by capacity and consumption, India has a highly regional and freight-intensive building-materials industry where manufacturing proximity to the end consumption market often determines profitability-linked enterprise valuation multiples in mergers and acquisitions. To be sure, Heidelberg is yet to take a final call on its India exit strategy and according to the people cited above, it is possible that it may eventually decide to opt for a bidding process for the assets to allow other potential buyers to participate and increase competitive intensity for the plants. A Heidelberg Materials spokesperson declined to comment, while the JSW Group did not respond to ET's email seeking comments. Holcim Exit If concluded, it will mark the exit of a second global cement manufacturer from India after Swiss building materials company Holcim Group exited India in 2022, selling Ambuja Cements and ACC to the Adani Group in a closely contested bidding in which JSW Group had also participated. Heidelberg has more than 13 million tonnes per annum (MTPA) cement making capacity in India, of which 6.3 MTPA is with the listed entity HeidelbergCement India, and 7.1 MTPA is with the closely held Zuari Cement.

UK companies a 4 billion pound ( USD 4.9 bn) contract to design and manufacture a nuclear-powered attack submarine as part of the country's AUKUS programme with Australia and the United States, Al Jazeera reported. The first of the submarines will be delivered into service in the UK in the late 2030s and the first Australian ones will follow in the early 2040s. The SSN-AUKUS program aims to enhance the capabilities of the UK, Australia, and the US to counter regional security challenges, particularly from China in the Asia-Pacific region, Al Jazeera reported. UK's Defence Ministry in a statement on Sunday said that the contract with BAE Systems, Rolls-Royce and Babcock «represents a significant milestone for both the UK and the trilateral AUKUS programme as a whole». It said that the new submarines, known as SSN-AUKUS, «will be the largest, most advanced and most powerful attack submarines ever operated» by the Royal Navy and will «combine world-leading sensors, design and weaponry in one vessel». The plans for SSN-AUKUS were unveiled in March by the leaders of Australia, the UK and the US and came as the three countries ramped up their efforts to counter China in the Asia Pacific region. The nuclear-powered vessels — which have far greater stealth and range and mark the first time Washington has shared nuclear-propulsion technology with a country other than the UK — represent a significant upgrade to Australia's current diesel-powered fleet, as per Al Jazeera. Previously, Australian Defence Minister Richard Marles described the AUKUS deal as «the biggest step forward in our military capability that we've had since the end of World War II». Through the AUKUS, Washington intends to sell Canberra up to five of its

Auto stocks Shares of auto companies including Maruti Suzuki, Tata Motors, Ashok Leyland, TVS Motor among others will be in focus following the announcement of monthly sales numbers. Hindustan Zinc The company has reported highest-ever first half year mined metal production at 509kt, up YoY on account of higher ore production largely at Rampura Agucha supported by better overall metal grades. Read more:Here's the trade setup for today's session Ultratech The company's consolidated sales volume rose 16% year-on-year to 26.69 million tons, while India sales volume jumped 15% year-on-year to 25.66 million tons in the second quarter. SRF The company's capital expenditure for establishing 220 KV grid connectivity for the plant at Dahej, Gujarat has been commissioned and capitalised at a cost of Rs 147 crore. PNC Infratech PNC Infratech announced the revision of 'eligible disputes' to NHAI under the contractual disputes scheme by PNC Raebareli Highways, a subsidiary of the company for'one time settlement. Ramkrishna Forgings Ramkrishna Forgings Board has approved raising of funds up to Rs 1,000 crore by way of issuance of equity shares through qualified institutional placement (QIP). Godrej Agrovet Godrej Agrovet's palm oil business announced the company will be setting up an integrated palm oil complex in Telangana. Bluedart Bluedart to implement a general price increase from January 1, 2024.

Godrej Group, the ₹1.76-lakh-crore conglomerate that began its industrial journey five decades before Independence selling locks to the citizens of a then crime-prone Bombay, is reportedly in advanced stages of crucial negotiations to conclude the formal division of its diverse businesses, top industry executives familiar with the matter told ET. The two factions of the Godrej family — Godrej Industries & Associates led by Adi Godrej and his brother Nadir, and Godrej & Boyce Manufacturing Company (G&B) involving cousins Jamshyd Godrej and Smitha Godrej Crishna — are likely to finalise soon the formal split of business verticals as diverse as engineering, appliances, security solutions, agricultural products, real estate, and consumer products, said the officials cited above. The family council is ironing out some important specifics involving two critical points — usage of the Godrej brand name after the split, including possible royalty payments, and land valuations currently held by G&B.

Federal Reserve officials typically gather many of their insights and observations about the economy from some of the top Ph.D. economists in Washington

Advent could rope in new investors into its planned combination of Suven Pharma and Cohance Life Sciences, as it looks to create a top three contract development and manufacturing organisation with a diversified shareholder base by combining the portfolio companies, according to sources in the know. «A few investors have been sounded out. They are looking to induct new investors as part of the merger plan of Suven Pharma with Cohance. The idea is to have a diversified shareholder base in the merged entity and bring in investors who could add value to the business,» a person in the know said.

Su 30MKI fighter jet fleet is set to be upgraded under a plan that will include completely new avionics, radars and electronic warfare suites. Close to 100 of the fighters are to be upgraded in the first tranche that will be conducted entirely in India. Sources said the upgrade plan is valued in excess of Rs 60,000 crore and will touch all aspects of the fighter jet except for its airframe and engines.

malaria vaccine jointly developed by University of Oxford and Serum Institute of India (SII), leveraging Novavax's adjuvant, has been recommended for use by the World Health Organization's Strategic Advisory Group of Experts and the Malaria Policy Advisory Group, paving the way for a global roll-out soon. The R21/Matrix-M malaria vaccine is an easily deployable vaccine that can be manufactured at mass scale at a modest cost, enabling as many as hundreds of millions of doses to be supplied to countries which are suffering a significant malaria burden, according to a news release posted on the Oxford University website.

All models of Onewheel self-balancing electric skateboards are under recall after at least four deaths and multiple injuries were reported in recent years, federal regulators say

The cannabis company Tilray expanded its position in the craft brew industry, completing the acquisition of eight beer brands from Anheuser-Busch that it had announced over the summer

New Delhi: Akash Tripathi, chief executive of the Centre’s citizen engagement platform MyGov, is set to become the new CEO of India Semiconductor Mission (ISM), starting 9 October, people familiar with the matter said on Monday. ISM functions as an independent, specialized division under the Digital India Corp. Established in 2021 with a financial commitment of $10 billion ( ₹76,000 crore) under the ministry of electronics and information technology, its primary mission is to cultivate a robust semiconductor and display ecosystem, besides positioning India as a leading global hub for electronics manufacturing and design.

U.S. auto safety investigators have expanded a probe into Ford Motor Co. engine failures to include nearly 709,000 vehicles