Manufacturing Financial News

₹235.5 crore, as per a regulatory filing made by the Mumbai-headquartered agro-business company on September 26. As per the agreement, Shree Renuka will purchase around 5 crore equity shares for ₹47.05 apiece. Post-completion of the acquisition, Anamika will become a wholly-owned subsidiary of the company.

breached $1 trillion in market capitalization, making it the first US chipmaker to join the trillion-dollar club. The chip manufacturer stunned investors by reporting a quarterly profit of more than $2 billion and revenue of $7 billion in May 2023, both exceeding Wall Street expectations. Nvidia is possibly most widely known for its GeForce range of PC components, such as graphics cards and drivers, and the GeForce NOW cloud gaming service.

The current GMP of Valiant Laboratories is Rs 0 in the unlisted market. The offer, which is priced at Rs 133-140 apiece, is completely a fresh equity issue of Rs 1.08 crore shares. Investors can bid for a minimum of 105 shares in one lot and in multiples thereof. About 50% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors and 35% for retail investors. 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.

Wall Street is back to falling as its September swoon worsens

Investing.com — U.S. futures fell Tuesday, with investors dealing with the fallout from the Federal Reserve's hawkish policy update last week as well as a potential government shutdown.

Bank of America (BoA) reinstated coverage of Fisker Inc. (NYSE:FSR) with a Buy rating and set a 12-month price target of $8.00 on the automotive stock. According to BofA analysts, Fisker is poised for robust growth, driven by significant trends within the automotive industry and the recovery of the global auto sector. Nonetheless, the competitive landscape is intense, and the ability of companies like Fisker to maintain their technological superiority and offer compelling products will be pivotal for their long-term success.

(Reuters) — The U.S. FDA is cracking down on lax testing practices by dozens of makers of healthcare products following hundreds of deaths overseas from contaminated cough syrups, a Reuters review of regulatory alerts found.

refrigerators, it's essential to compare them with conventional refrigerator models. While traditional refrigerators have served us well, side-by-side models offer a range of advantages. With their double doors, these refrigerators provide separate compartments for fresh and frozen foods, ensuring optimal storage conditions for both.

Tesla (NASDAQ:TSLA) and other European car manufacturers that export vehicles from China to the European Union (EU) will be included in the EU's investigation into whether China's electric vehicle industry is benefiting from unfair subsidies, according to the Financial Times.

MAGDEBURG, Germany—Intel says it needs 3,000 people to staff the semiconductor factory it plans to build in eastern Germany by the end of the decade. This year, the local apprentice program for chip-making technicians is training two. The German government trumpeted Intel’s planned development as a game changer, backed by federal subsidies totaling 10 billion euros—equivalent to $10.59 billion—that would help the economy pivot toward new industry.

China: Tesla Inc. During the evidence-gathering that precipitated this month’s surprise announcement of an EU anti-subsidy probe into Chinese EVs, the US carmaker was among the companies found to have likely benefited, according to people familiar with the matter. Tesla shares fell 1.6% in premarket trading at 5:58 a.m.

The 30-share BSE benchmark Sensex declined 78 points or 0.12% to settle at 65,945. The broader NSE Nifty dropped 10 points or 0.05% to end at 19,665. From the Sensex pack, Tech Mahindra, Infosys, Asian Paints, ICICI Bank, and Kotak Bank closed with cuts, while Nestle, Tata Steel, M&M, Bajaj Finance, and HUL closed higher. Eicher Motors closed 2.6% higher after global brokerage firm Jefferies raised its price target to Rs 4,150 from Rs 4,000. Shares of Strides Pharma fell 2% after the company announced plans to spin off its CDMO (Contract Development and Manufacturing Organisation) and soft gelatin businesses into a new entity, OneSource. Nifty IT index fell 0.54% on fears of a delayed demand recovery in the US due to higher interest rates.

major stocks showcased noteworthy performance by surpassing their 100-day SMA.Let's explore the performance of these stocks. (Data Source: StockEdge)1. SISSIS Limited is a prominent security services and facility management company.

Apple supplier Pegatron's India iPhone factory is expected to extend into Wednesday and disruptions could last longer as authorities investigate a fire at the Taiwanese firm's only India plant, four sources said. Pegatron described the Sunday fire as a «spark incident» which caused no injuries and said has «no financial or operational impact to Pegatron Corporation», but called off all assembly shifts for Monday and Tuesday, Reuters previously reported. Four sources briefed on the matter said Wednesday shifts were also unlikely. One of them said damage was being repaired at the plant in Chengalpattu area near the southern city of Chennai in Tamil Nadu state, and in the worst case the shutdown could last the entire week. One of the sources said Apple representatives were collaborating with Pegatron after the incident. Apple and Pegatron did not respond to requests for comment. Pegatron has asked independent surveyors to assess the fire damage, a fifth source said. The disruptions are the latest to impact Apple suppliers in India, a country where the U.S.

market sentiment and identifying potential investment opportunities. One such indicator is the 200-day Simple Moving Average (SMA), often regarded as a long-term trend signal. On September 25, several significant stocks demonstrated noteworthy movement by crossing their 200-day SMA. Let's explore the performance of these stocks.

By Nandita Bose, Nathan Layne and Jarrett Renshaw

Chinese trade officials say the country’s manufacturers are vital in preventing an annual shortfall of 270 wind towers in Australia as they urge the federal government to scrap anti-dumping duties.

IPO) of Valiant Laboratories will open for subscription on September 27. The issue closes on October 3.

EV motorcycle startup Raptee on Tuesday said it has raised USD 3 million in a pre-Series A funding round. The all-equity funding round led by deep-tech VC fund BlueHill Capital, also saw participation from industry stalwarts as well as HNIs, Raptee said in a statement. The funds will be utilised for augmenting the manufacturing facility, acquiring machinery, tooling for the soon-to-be launched motorcycle, and to scale up the team, it said. «This is our first institutional round.

Strides Pharma Science fell over 3% to Rs 518 in Tuesday's trade on BSE after the company announced plans to spin off its CDMO (Contract Development and Manufacturing Organisation) and soft gelatin businesses into a new entity, OneSource. The company intends to «build a one-of-a-kind specialty pharmaceutical contract development and manufacturing powerhouse with capabilities in biologics, oral soft gels, complex injectables, sterile injectables, and other complex drug delivery systems», according to an exchange filing. Strides Pharma shareholders will get one share of OneSource with a face value of Re 1 apiece for every two shares of face value Rs 10 each held in Strides Pharma. There is no cash consideration involved.

₹549.00 apiece hit on September 25. In a regulatory filing on Monday, the company said its board has approved a scheme of arrangement among group entities to combine identified CDMO business of Strides, the identified CDMO business of Steriscience and the soft gelatin business under Stelis under one entity called OneSource.