Manufacturing Financial News

₹1,000 crore and an offer for sale (OFS) of up to 8.56 million shares. Prabhat Agrawal, promoter, managing director, and CEO, will offload up to 534,082 shares; OrbiMed Asia III Mauritius Ltd, a private equity firm, will offload up to 7.5 million shares; Prem Sethi, promoter and whole-time director will offload up to 353,302 shares; and other shareholders will offload up to 170,213 shares.

LIC on Thursday said it has sold 2 per cent of its holding in Sun Pharma for Rs 4,699 crore via open market sale. Following the share sale, there is a decrease of 2 per cent in holding during the period from July 22, 2022 to September 13, 2023. «Corporation's shareholding in Sun Pharma has diluted from 12,05,24,944 to 7,22,68,890 equity shares decreasing its shareholding from 5.023 per cent to 3.012 per cent of the paid-up capital of the said company,» LIC said in a regulatory filing. The shares were sold at an average price of Rs 973.80 per share during the period through an open market sale in an ordinary course of transaction, it said. Sun Pharma is engaged in the business of manufacturing, developing and marketing a wide range of branded and generic formulations and Active Pharma Ingredients (APls). Shares of the country's largest state-owned insurer, LIC, closed at Rs 660.80 apiece on BSE, up by 0.27 per cent.

Hamleys, owned by Reliance Brands Limited has opened first retail store in Italy with franchisee Giochi Preziosi SPA (GP), a leading player in Italy's toy manufacturing and distribution industry. Under the terms of the franchise agreement, GP has the rights to operate Hamleys stores throughout Italy. The first store is situated in Milan, at the renowned Corso Vittorio Emanuele II, and will be followed by the launch of a flagship store in Rome. “Guided by our vision — crafting memories through the joy of play, we are looking forward to becoming a centerpiece store in the popular shopping and tourist destination of Corso Vittorio Emanuele II, Milan,” said Sumeet Yadav, CEO, Hamleys Global. Hamleys was founded in 1760 by William Hamley and acquired by Reliance Brands Limited (RBL) in 2019. Currently it has a footprint of 191 stores spread across 15 countries. Hamleys continues to expand into newer markets, most recently the Balkans, with its first store in Albania and Kosovo, and further its reach in existing territories like India and Middle East with a store in Qatar. Spread across 13,300 sq.

₹21,935 crore, the purchase will help refurbish the Indian Air Force’s aging Avro-748 transport fleet. Here’s why it matters In September 2021, India signed a deal with aviation giant Airbus for 56 such C295 transport aircraft. Under the terms of the deal, India would receive 16 aircraft assembled in Spain, while the remaining 40 would be assembled in India.

Pakistan appears to be intensifying its efforts to bolster its nuclear arsenal, according to a recent research report by the Federation of American Scientists. The nation's economy has been in turmoil, marked by widespread protests against skyrocketing fuel prices and exorbitant power bills.

Narendra Modi on Thursday elaborately spoke about the controversy surrounding the Sanatana Dharma remark made by Tamil Nadu minister Udhayanidhi Stalin. Addressing a massive gathering at Bina in poll-bound Madhya Pradesh, PM Modi said that the INDIA alliance has a “hidden agenda" to attack and end the Sanatana Dharma culture. Unleashing a no holds barred attack on the Opposition bloc — the Indian National Developmental Inclusive Alliance (INDIA) — PM Narendra Modi called it an “INDI alliance" that “does not have a leader".

₹400 crore in May via multiple funds of Convergent Finance LLP, an investment management company led by Harsha Raghavan, besides ₹30 crore from individual investors, Agilitas said. Its founding team comprises Ganguly, who quit Puma India in August, Atul Bajaj, Puma India’s former executive director for sales and operations, and Amit Prabhu, former chief financial officer, Puma India.

foreign exchange and fiscal revenues. Perhaps no company in the world is as closely linked to its country’s collapse as Venezuela’s state oil firm, PDVSA. At its peak in 1998, it provided 5% of global supply.

20-day SMA is a notable technical milestone for stocks, often indicating short-term positive trends. Investors and traders closely follow such developments as they make decisions in the dynamic stock market. However, it's essential to conduct thorough research and consider various factors before making investment decisions.

NMDC share price jumped over 5 per cent to hit its fresh 52-week high of ₹150 on BSE in intraday trade on Thursday after an upward revision in iron ore prices. The stock opened at ₹142.90 against the previous close of ₹142.25 and rose 5.45 per cent to its one-year peak of ₹150. In a BSE filing on Thursday (September 14), the State-owned company, which is also the country's largest iron ore miner, said that the prices of iron ore with effect from September 14, 2023, has been fixed at ₹4,950 per tonne for lump ore and at ₹4,210 per tonne for fines.

Tata Consultancy Services (TCS) is looking to tap overseas markets, particularly the US, to promote locally developed and manufactured fifth generation, or 5G, radio network gear on the backdrop of Centre’s ambition to 'make in India for the world' to overcome supply chain disruptions. “The N78 5G radios designed by Tejas Networks may be qualified for all greenfield and brownfield 5G opportunities that present themselves to the company globally including that in the US,” TCS chief operating officer NG Subramaniam told ETTelecom. Developed by Saankhya Labs, the N78 radio, compatible with 3300 MHz spectrum band, is being currently manufactured by Bengaluru-based Tejas Networks, which acquired the telecom startup early last year. In 2021, Tata Sons acquired homegrown telecom gear maker Tejas Networks.

Wholesale price inflation remained in the negative territory for the fifth straight month in August at -0.52%. In July, the WPI inflation was at -1.36%. The negative rate of inflation in August this year is due to fall in prices of mineral oils, basic metals, chemical products, textiles and food products as compared to the corresponding month of previous year, according to the data by the Ministry of Commerce & Industry.

GST on generators and vehicles with diesel-powered engines. His words were meant to provoke, clearly, as is the minister's usual manner. The prospect of a tax on the fuel that powers all large trucks in India caused stock prices to plummet.

Cipla Ltd. is in jeopardy as potential buyers have balked at the 1.09 trillion rupee ($13.1 billion) valuation members of the founding family are targeting for the Indian firm in a deal, according to people familiar with the matter. Negotiations between the family members and prospective buyers, including companies in the industry and private equity firms, are no longer moving forward, as the founders are demanding about 1,350 rupees per share, the people said. The price represents a premium of about 10% over Wednesday’s close, according to Bloomberg calculations.

Anand Shah, Head- PMS & AIF Investments, ICICI Prudential AMC, says, this is a market which has strong legs of earnings and one needs to be very focussed, very careful and continue to buy the right businesses which will benefit from a multi-year growth which is a very clear possibility as the stars are aligned today.Where do you think the entire volatility of the election cycle would kick in? Today, we are not talking about it, but soon we will start talking about it. Historically, we have seen that the election cycle in India is always a swing event. It is not a binary event, but a swing event. What should one do?Our experience of the last 20-23 years is that notwithstanding the macro risks that exist in the market, focussing on stock picking, identifying the right businesses has actually paid off very well. To be very honest, many of the macro risks had a much larger impact than elections – be it the global financial crisis or more recently Covid. There would always be external forces which will push down markets and one needs to be cognisant of that and that is why the asset allocation of an individual is very important.

New Delhi: Adani Global Pte Ltd., Singapore, a wholly-owned subsidiary of Adani Enterprises Ltd., on Thursday announced a 50:50 joint venture (JV) with Kowa Holdings Asia Pte Ltd., Singapore, for sales and marketing of green ammonia, green hydrogen and its derivatives, the company said here in a statement. “The green hydrogen and its derivatives are to be manufactured in India under Adani New Industries Limited (ANIL). The JV will concentrate on marketing of products in Japan, Taiwan and Hawaii," the company added.

Nissan, are collecting and sharing deeply personal data, such as sexual activity and health information. The study found privacy and security flaws in car brands from the U.S., Germany, Japan, France, and South Korea. According to Mozilla, they conducted tests on 25 major car manufacturers, and all of them did not meet privacy standards.

Bombay Dyeing & Manufacturing Company (BMDC) hit 20% upper circuit to scale their 52-week high of Rs 166 on the NSE on Thursday following a nod from the Wadia Group's company's Board to the proposal to sell the land parcel of about 22 acres in Worli, Mumbai to Goisu Realty, a subsidiary of Japanese realty developer Sumitomo for Rs 5,200 crore. This is Mumbai's largest land deal in terms of value. The price action was accompanied with high volumes as over 1 crore shares traded on the NSE around 9:30 am. The whole transaction with Sumitomo will be completed in two phases including the first tranche of Rs 4,675 crore. The balance Rs 525 crore will be received upon completion of certain conditions by BDMC and execution and consummation of the definitive agreements for the second phase. The group has decided to monetise the land parcel to repay the debt that currently stands at Rs 3,969 crore.

₹5,200 crore. Bombay Dyeing share price opened at ₹164.80 apiece on BSE.

Apple Inc.’s true specialty isn’t consumer technology. It’s marketing. Few other enterprises in human history have managed to efficiently separate people from their money at such scale. So when this marketing juggernaut turns its prowess to selling its own green credentials, you should expect nothing less than, say, Oscar winner Octavia Spencer playing Mother Nature in a slick viral video. But the credibility of Apple’s environmental claims is a little fuzzier than the razzle-dazzle would have you believe. Tuesday’s Apple Event, the company’s annual celebration of mass consumerism, featured not only Spencer’s Mother Nature but a barrage of promises about all the ways Apple is looking out for her:

Robust demand outlook ahead of the upcoming festive season, improvement in semi-conductor supply, and declining raw material prices prompted fund managers to buy auto and auto-component stocks like Mahindra & Mahindra, Bharat Forge, Hero Motors, TVS Motors, and Samvardhana Motherson International. Fund managers also took fresh exposure to companies in the electronic manufacturing space. Analysts said global electronic manufacturing companies are diversifying their vendor base by giving orders to Indian companies.