Manufacturing Financial News

New Delhi: India's current account deficit (CAD) widened in the April-June quarter to $9.2 billion or 1.1% of GDP from $1.3 billion in the preceding three months. The September quarter is expected to see a substantial widening of the deficit as the trade balance has been worsening sequentially, oil and higher core imports are rising, and services exports are slowing further. Mint explains the relevance of the data in the context of the Indian economy The current account measures the flow of trade, including goods and services and investments in and out of a country.

₹16.84 crore from the primary markets. Sharp Chucks and Machines IPO is an SME issue that opened for subscription today, September 29. Sharp Chucks And Machines manufactures and exports of power chucks, Lathe chucks Drill chucks and machine tools accessories.

Emami shares climbed 5% to Rs 537.8 in Friday's trade on BSE after the company announced its entry into the health juice category with the acquisition of a 26% stake in Axiom Ayurveda, which markets a range of beverages under the brand name AloFrut. “We are delighted to announce our partnership with Axiom Ayurveda through a strategic investment in equity.

Karnika Industries IPO opened for subscription on Friday, September 29, and will close on Thursday, October 5. As per market sources, Karnika Industries IPO allotment is expected to be finalised on Tuesday, October 10, 2023.

₹537.80 apiece on the BSE. The FMCG major Emami acquired 26% equity stake in Axiom Ayurveda Pvt Ltd, which markets beverage products under the brand “AloFrut". Apart from AloFrut, which constitutes the key business of the Axiom Ayurveda, the company has a unique range of carbonated beverages that includes mocktails and energy drinks.

Gurugram district administration has banned the manufacture, sale and use of firecrackers to control pollution. This ban that comes into force from November 1 will be effective till January 31, 2024. District Magistrate Nishant Kumar Yadav said in the order issued that in the public interest, the manufacture, sale and use of all types of firecrackers except green firecrackers and barium salt have been banned. «In exercise of the powers conferred by Section 144 of CrPC, P.C.

quarter which brought back inflation concerns on Dalal Street did weigh on the performance of benchmark indices and its constituents, as less than 10 stocks that are part of the Nifty 50 have given double-digit returns in this period. The Nifty 50 net gained about 2% in the current quarter, compared to the 10% gains it clocked in the June quarter. Nine of its 50 constituents gave 10-26% returns in the September quarter.

Infosys, Wipro Infosys and Wipro ADRs slumped in trade on Thursday on the NYSE as peer Accenture Plc’s growth guidance left investors in dismay. Quick Heal Technologies American venture capital firm Sequoia Capital has exited Quick Heal Technologies Ltd, by selling its entire 3.4% stake in the company through the open market on Thursday. Read more: Here's the trade setup for today's session Adani Green Abu Dhabi-based International Holding Co said it plans to sell its investment in Adani Group firms – Adani Green Energy Ltd and Adani Energy Solutions Ltd. Asian Paints Asian Paints Co-founder and Non-Executive Director, Ashwin Suryakant Dani, on Thursday passed away at the age of 81. Cholamandalam Investment Cholamandalam Investment and Finance launched a qualified institutional placement up to Rs 2,000 crore. Piramal Pharma USFDA conducted a good manufacturing practices inspection of Piramal Pharma's Bethlehem facility and issued two observations. Uno Minda Uno Minda to increase stake in its JV with Westport to 76% to accelerate growth in growing CNG and other alternate fuel markets. SBI Life The Board has approved the appointment of Amit Jhingran as the MD and CEO of the company with effect from October 01. Emami Emami announced its foray into the juice category with AloFrut through strategic investment in Axiom Ayurveda and its subsidiaries. Navin Fluorine Radhesh R Welling has tendered his resignation as the Managing Director and a Director on the Board of the company for personal reasons.

Sun Pharmaceutical: The drug major will buy out local partner Indi Pharma from its Mexican arm for over ₹75 crore. The company has signed a binding letter of intent to acquire the balance 25% outstanding shares of Sun Pharma de Mexico, SA de CV, a subsidiary where it currently holds 75%. Adani Green & Adani Energy: Abu Dhabi conglomerate International Holding Company on Thursday said it will sell its stake in two of India's Adani Group companies, a move that comes as billionaire Gautam Adani's business continues its battle against fraud allegations, Reuters reported.

Times of India. In the letter, Viswam wrote, as quoted by TOI, "I am writing this to express my concern about the plight of over 3,000 employees of Heavy Engineering Corporation (HEC) who have not received their salaries for the past 20 months. HEC is one of India's oldest and ablest Public Sector Units which has played a crucial role in India's space program with years of critical service to the nation, including manufacturing of the launch pad for the much celebrated Chandrayaan-III." ALSO READ: India-China Space Race: Top Chinese Scientist disputes Chandrayaan-3's claim to south pole Moon landing Apart from this, Viswam also mentioned the struggles the employees of HEC are facing.

MUMBAI : Ashwin Dani was central to the development of Asian Paints over the 1980s and 90s. He was central in bringing the application of modern chemistry to Asian Paints’ products. Asian Paints, under his watch, applied increasing amounts of computer technology.

No matter how you slice and dice it, one thing is clear: the reflexive stock market rally that began last October (and ended this past August) never had much in the way of fundamental underpinnings. Momentum, yes. Technical picture, yes. Sentiment and emotion, yes. Fundamentals and valuations, sorry, no. And this is why we never bit despite all the external pressure to do so. Everyone loves a bullish narrative.

₹30 crore, taking the total production scale to 600 million devices. CDIL started making silicon chips and devices in 1964 in collaboration with Continental Device Corp. of Hawthorne, California, which was later called Teledyne Semiconductor Co.

Plaza Wires IPO: Plaza Wires has raised ₹20 crore from anchor investors a day ahead of its IPO subscription opening for bidding. Plaza Wires initial public offering (IPO) will open for subscription on Friday, September 29 and close on Wednesday, October 4. Two anchor investors - Chanakya Opportunities Fund I and Astrone Capital UCC-Arven, participated in the anchor book.

Medizintechnik GmbH against the use of its 'VBM' mark by another entity, the Delhi High Court has nixed the claim of a company which was using the initials claiming they denoted the 'Holy Trinity' of Hindu gods 'Vishnu, Brahma and Mahesh'. Justice C Hari Shankar, while dealing with a lawsuit by VBM Medizintechnik, observed the defendant was running 'VBM India Co' while dealing in equipment manufactured by the plaintiff as its distributor as well as those produced by third parties.

Realty firm Wave Group on Thursday said it will invest around Rs 100 crore to expand its film exhibition business by adding 35 screens. Wave group, which operates 10 multiplexes and 42 screens under the Wave Cinemas brand, on Thursday opened a seven-screen multiplex Wave Cinemas at the M3M Urbana Premium, Sector 67, Gurgaon.

Continental Device India Private Limited (CDIL) became the nation's first to manufacture silicon carbide devices with the establishment of their Surface Mount Semiconductor Packaging Line with an investment of around Rs.30 crore at their Mohali plant on Thursday. The expansion of assembly lines will increase CDIL’s total capacity at the facility to 600 million units annually. With the anticipated surge in electric vehicles (EVs), power management devices and solar-powered panels, globally as well as in India, and their increased reliance on wide band gap electronics, CDIL said it has identified and laid focus on Silicon Carbide (SiC) products.

By Supantha Mukherjee and Divya Rajagopal

The world of virtual reality (VR) is currently witnessing a surge in investor enthusiasm, sparked by recent developments. Apple's (NASDAQ:AAPL) highly anticipated Visio Pro VR headset, set to launch in early 2024, has created significant anticipation.

Ashwin Dani, whose father co-founded one of Asia's biggest paint companies, Asian Paints, where Dani was the non-executive chairman, India's industry has lost an innovative entrepreneur and yoga a tireless evangelist. Dani, a steadfast disciple of legendary Yoga guru BKS Iyengar, had set up an Iyengar Yoga studio at his home in Mumbai. According to Forbes India, Dani's real-time wealth currently stands at $7.7 billion. With Dani's technological expertise and entrepreneurial zeal, Asian Paints lived up to its name and became Asia's second-biggest paint company after decades of leadership in the Indian market.

Auto retail is finally shifting from a seller’s market to a buyer’s market: Dealers’ car lots are looking fuller, while high interest rates are making consumers choosier. That spells opportunity for online marketplaces such as Cars.com, CarGurus and TrueCar that stand to do well when manufacturers and dealers become more desperate. CarGurus and Cars.com are among the largest online platforms that consumers use to shop for cars.