Manufacturing Financial News

Uttar Pradesh International Trade Show- a first of its kind event being held in UP to showcase products manufactured in the state to B2B and B2C buyers from India and abroad. The show being held at the India Expo Mart in Greater Noida was inaugurated on Thursday by president Droupadi Murmu. Murmu pointed out that the G20 New Delhi Leaders' Declaration included the goal of local value creation and identifying the challenges faced by MSMEs and connecting MSMEs at the international level and said the trade show would «advance India's national and international priorities in line with the goals of the G20». CM Yogi Adityanath in his address at the inaugural ceremony said in the last six years UP has moved from being a Bimaru state to becoming a prosperous state.

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New Delhi: Micron Technology, Inc. will have the groundbreaking of its $2.75 billion assembly, testing and packaging plant (ATMP) in Sanand, Gujarat, on Saturday, Rajeev Chandrasekhar, minister of state for electronics and IT said today.

The Proxperts has announced its expansion plans aimed at empowering MSMEs (Micro, Small, and Medium Enterprises) across the country. The business consulting company headquartered in Surat, Gujarat plans to support manufacturing companies in India and contribute towards 'Make in India' initiatives, The Proxperts says that it is planning to inspire 100,000 business owners thereby transforming 1000 business enterprises to create an impact of good profit for them by 2030. The Proxperts' expansion encompasses two pivotal facets:Online Consultation Model: The Proxperts plans to harness the power of technology to provide consulting services online.Franchise Model: The Proxperts is introducing a franchise model to expand their footprint into diverse regions, starting with Rajkot and Jamnagar in Gujarat, and Mumbai with other Tier-2 cities in Maharashtra.

LONDON (Reuters) — The euro zone economy will likely contract in the third quarter and won't return to growth anytime soon, a survey showed, even though a downturn in the bloc's business activity eased slightly in September.

DuckDuckGo Gabriel Weinberg said in federal court. On Thursday, Weinberg spoke in court during the government's antitrust trial involving Google's parent company, Alphabet Inc. The Department of Justice says that Google pays over $10 billion annually to other tech companies, phone manufacturers, and wireless service providers.

BERLIN (Reuters) — German business activity fell for the third consecutive month in September due to a sustained decline in demand for goods and services, pointing to a «deep» economic contraction in the quarter, a preliminary survey showed on Friday.

RR Kabel shares were listed on September 20 at a 14% premium to issue price. RR Kabel share price began trading at ₹1,179 on BSE and ₹1,180 on NSE as compared to the issue price of ₹1,035 per share. The stock has been rising since listing and is up more than 15% from the issue price.

iPhone 15 series, launched on September 12, 2023. Long queues of people were seen outside the Apple store at Mumbai's BKC and Delhi's Select Citywalk Mall as the much-awaited iPhone series went on sale in India on Friday (September 22). «It was a great experience. I was in the queue since 4 am and then purchased the phone. I have always had top phones with me. I have an iPhone 13 Pro Max and an iPhone 14 Pro Max. After the 15 series was announced, I wanted to get the iPhone 15 Pro Max — that too before everyone else,» ANI quoted Rahul, the first customer today at the Apple Store at Select Citywalk Mall in Saket, as saying. A customer outside the Apple store at Mumbai's BKC said, «I have been here since 3 pm yesterday. I waited in the queue for 17 hours to get the first iPhone at India's first Apple store. I have come from Ahmedabad...»

Tesla's India entry being a question of when, not if, Dalal Street investors have found another reason to turn bullish on auto stocks, and ancillaries in particular. Tesla, which was looking to source $1.7-1.9 billion worth of auto parts from India this year, is said to be exploring the possibility of bringing its auto parts and electronics chain to India. Wherever Tesla sets up a base, it does so with its entire supplier base. “Tesla already last year bought $1 billion of components I think… this year the target is $1.7 or $1.9 billion," commerce and industry minister Piyush Goyal had said last week. Earlier in June this year, Tesla CEO Elon Musk said the company could soon be setting up a manufacturing base in India.

«I think these are, let us say times of tipping point so you would see sudden shifts and you would see lots of improvements and almost every day is going to be an exciting day,» says Jairam Sampath, Kaynes Technology.First HNI investors, then institutional brokerages and now retail brokerages, are you surprised with how suddenly everybody is excited about the EMS space?Yes, so in our journey for the country from a low income group to a reasonably sized income, I think one of the things which was lacking in our country was the impetus to manufacturing and I think it looks like electronics manufacturing is going to be the flag bearer of the emergence of manufacturing. I would not say resurgence because we always had not too much of manufacturing on our plate. So yes, I am not surprised that across the board, people are excited and they are lending their support both morally and physically.Your big deal wins in last three months, which give you the confidence that the renaissance moment has arrived?I think these are, let us say times of tipping point so you would see sudden shifts and you would see lots of improvements and almost every day is going to be an exciting day.

By Nicoco Chan and Yelin Mo

In a show of support to Delhi government's ban on use of firecrackers, Supreme Court refused to interfere in to the matter. It also rejected plea seeking the manufacture and use of firecrackers using barium.

₹162 apiece on the BSE, a discount of 1.22% to the issue price of ₹164 per share. Zaggle Prepaid share price opened at ₹164 apiece on NSE. Zaggle Prepaid IPO received strong response from investors during IPO subscription period from September 14 to September 18.

“Market movements reflected that the bulls are in control at the moment and if this bull run continues then the market climbing to some new highs during Diwali cannot be perhaps ruled out,” says Ajit Banerjee, CIO of Shriram Life Insurance Company. In an interview with ETMarkets, Banerjee said: “Space and Defence sector in view of the government focus on developing these sectors and strive towards attaining Atma Nirbhar Bharat will propel the growth” Edited excerpts:What a week for Indian markets – 20,000 and counting – what next? The NSE (Nifty -50) reached the 20,000 milestone early last week and continued in the 20 K territory during the week and closed at 20,192 at the weekend.

India in itself is an asset class in the global arena, and equities are well poised to deliver superior returns compared to all other asset classes, saysJiten Doshi, co-founder and chief investment officer of Enam Asset Management. “We feel we are amidst a once-in-a-lifetime phase of India registering its presence of being a break-out nation,” says Doshi, who oversees close to $4 billion of assets. Doshi believes it’s time to allocate a sizeable part of incremental income in equities to create generational wealth, as this growth phase will ride multiple megatrends like digitization, financialization, premiumization, manufacturing renaissance, and benefit multiple sectors. Edited excerpts from an interview with ETMarkets:Many money managers believe that valuations are stretched across market cap. Do you also believe so or contradict?We feel there are two plays in the markets — value and price. When we contend valuations are expensive — it means that prices are high. Our core premise in investing is to own a good business, which presents long growth visibility, and generates better business returns. As things stand, prices are high, but has the value changed? Not necessarily.

connected vehicles is likely to spur demand for embedded sims (e-sims) by as much as 3 million over the next 12-18 months. This, industry experts said, would drive growth in enterprise business for telecom operators. Experts predict the widespread adoption of e-SIMs in automobiles will quadruple the demand for semiconductor chips by 2025. “We believe that the number of OEM (original equipment maker) fitment connected vehicles could increase by around 2-3 million over the next 12-18 months,” a spokesperson for Bharti Airtel said, adding that demand for e-sims is led by manufacturers’ focus on launching internet-enabled vehicles with connectivity and smart features at the core of the product offering. Currently, the e-sim market for telcos is just less than 1% of enterprise revenues of telcos, according to industry estimates.

Apple Store in Delhi and Mumbai and other retail stores are unboxing locally made iPhone 15 and iPhone 15 Plus models, a first for the company since it started manufacturing iPhones in India in 2017. Industry executives said the entire local demand for the base and plus models will be served by India-made iPhones. The locally made units have also been exported to other regions. All four in the iPhone 15 series, launched earlier this month, went on sale Friday, with customers queuing up in hundreds since early morning at the stores.

Investing.com-- Most Asian stocks moved in a flat-to-low range on Friday as markets continued to fret over rising interest rates, while Japan’s Nikkei tumbled amid uncertainty before a Bank of Japan meeting. 

TOKYO (Reuters) — Japan's factory activity contracted for the fourth straight month and the service sector growth slipped to an eight-month low, a survey showed on Friday, highlighting the challenges facing the economy as it struggles to mount a strong recovery.

Hiranandani Group, has submitted revised proposals for an assembly, testing, marking and packaging (ATMP) facility and a compound semiconductor unit, along with other companies, officials told ET. «Apart from an ATMP proposal, they have also submitted one for compound fabs,» one of the officials told ET.