Manufacturing Financial News

Dhanuka Agritech Ltd following its latest meet with the company's MD, M K Dhanuka and executive director Harsh Dhanuka. The brokerage firm stated in its report that it expects total profitability to increase with a rise of volume growth and margins. However, an inadequate monsoon in September–October could have a negative effect on demand.

Exide Industries Ltd Thursday said it has invested over ₹100 crore in its wholly-owned subsidiary Exide Energy Solutions Ltd, which is into manufacturing of advanced chemistry battery cells. In the regulatory filing, the Exide Industries said the company has made the investment by way of subscription in the equity share capital of Exide Energy Solutions Ltd (EESL) on rights basis. The Exide Industries said there is no change in the shareholding percentage of the company in EESL pursuant to such an acquisition.

1) Company overviewJiwanram Sheoduttrai Industries initially started manufacturing industrial safety gloves and gradually expanded its presence in the industrial garment sector. Its business is classified under three product verticals — manufacturing and export of industrial leather gloves, industrial garments and work and casual wear.2) Industry overviewThe global personal protective equipment market (PPE Market) was $68.5 billion in 2022 and is projected to reach $64.2 billion by 2027, at a CAGR of -1.3% from 2022 to 2027.3) Issue sizeThe IPO is entirely a fresh issue of up to 74.2 lakh equity shares aggregating to Rs 17.07 crore.4) Price bandThe company will offer its shares at a price band of Rs 23 apiece, and investors can bid for 6,000 shares in 1 lot.5) Financial performanceFor the period ended March 2023, the company has recorded revenues of Rs 42.23 crore and net profit of Rs 4.02 crore.6) Objects of the offerThe net proceeds from the public offer will be used to fund working capital requirements, repayment of debt, and other general corporate purposes.7) Lead managers and RegistrarAffinity Global Capital is acting as the lead manager to the issue, while Cameo Corporate Services is the registrar.8) Issue structureAbout 50% of the offer is reserved for retail investors, and the rest for other investors.9) Important datesThe IPO opens on September 8 and closes on September 12.

The number of Americans applying for unemployment benefits last week fell to the lowest level in seven months, another sign that the labor market remains largely unaffected by higher interest rates

Defying U.S. sanctions on semiconductor tech shari... moreDefying U.S.

Indian market. This model will mark Kawasaki's most budget-friendly four-cylinder motorcycle offering in India, with its official release set for September 11th. Notably, it is anticipated that Kawasaki will exclusively offer the base trim of the ZX-4R in the Indian market, and there are no plans to introduce the SE and R versions.

Investing.com -- U.S. stock futures pointed to a mixed open for equities on Wall Street, as investors examine how recent services sector data and a closely-watched Federal Reserve survey could impact the central bank's monetary policy. Elsewhere, China's exports contract in August in a sign of mounting pressure on the manufacturing industry in the world's second biggest economy, while a report that Beijing is barring government officials from using iPhones at work weighed on Apple (NASDAQ:AAPL) shares.

G20 summit in New Delhi is expected to bring substantial challenges for gig workers and retail businesses in select areas of the city. According to a report from the Forum for Internet Retailers, Sellers & Traders (FIRST), approximately 9,000 gig workers are facing the possibility of losing their daily earnings due to the suspension of commercial activities within certain areas governed by the New Delhi Municipal Council (NDMC) for a period of three days, commencing on September 8, as reported by ToI. These gig workers represent a diverse range of sectors, including food services, consumables, and those operating within fulfillment centers located within NDMC zones.

Hinduja group flagship Ashok Leyland on Thursday said its aiming to be among the top 10 global commercial vehicle manufacturers in the near future. According to company chairman Dheeraj Hinduja, the heavy commercial vehicle maker is looking at exploring newer markets. Top officials of Ashok Leyland were in Chennai to mark the 75th anniversary celebrations of the city-headquartered company. «You know our vision is clear and we have discussed it many times, that is to be a global Top 10 commercial vehicle player. Currently, we are at No 20...» Hinduja told select reporters. Elaborating, he said the company's sales volume was growing in the Indian market and the 'Avtar' product developed by Ashok Leyland was a modular product, and such products have been developed with a mindset to serve international markets. «What is critical for us is to create the right network outside of India, find appropriate distributors in markets where we are currently not present,» he added. In the last 16 months, the company appointed 13 distributors in the African market with some of them having their own Assembly facility. «We are constantly looking at newer markets..» hinduja said. On the products offered by the company, Ashok Leyland Managing Director and CEO Shenu Agarwal said the country's first hydrogen fuel bus developed by them would be commercially plying on the road by December. On the Hydrogen fuel bus developed by the company for state-owned NTPC, he said, "… it is going to be the country's first hydrogen fuel bus that would be commercially plying on the road.

Foxconn Technology Group is teaming up with STMicroelectronics NV for a bid to build a semiconductor factory in India, seeking state backing to broaden its footprint in the South Asian country. Taiwan’s Foxconn and Franco-Italian STMicro are applying for state support for a 40-nanometer chip plant, people familiar with the matter said, asking not to be identified as the plan isn’t public. Such mature chips are used in cars, cameras, printers and a wide variety of other machines.

India towards a higher 8% growth, which will help overtake China as the biggest contributor to global growth, according to the latest Barclays research. “India is set to remain the fastest-growing major economy for some time. However, post general elections, the policy may tilt towards even faster economic expansion… targeting 8% could see it overtake China as the biggest contributor to global growth,” said Rahul Bajoria, Head of EM Asia (ex-China) Economics, Barclays. The study pointed out that India is likely to become an $8 trillion economy by 2030 if it achieves a higher growth rate, compared with the $6.6 estimated at 6.1% growth by the IMF.

Stocks declined, while Treasury yields climbed after a stronger-than-estimated reading on the US services industry bolstered speculation the Federal Reserve will keep interest rates higher for longer.

Stocks closed lower on Wall Street as traders return from a long holiday weekend

Access to electricity remains a major challenge for over half a billion people in sub-Saharan Africa, and power outages are common even for those who are hooked up to the grid

A lawsuit seeking class-action status accuses nine mobile home community management companies and a mobile home market data provider of conspiring to fix and inflate lot rental prices at more than 150 locations across the U.S. The lawsuit filed last we...

Most major car brands admit they may be selling your personal data — though they are vague on the buyers, and half say they would share it with the government or law enforcement without a court order

Green hydrogen is being touted around the world as a clean energy solution to take the carbon out of high-emitting sectors like transport and industrial manufacturing

Drug Controller General of India (DCGI) has issued a cautionary advisory to doctors and healthcare professionals, urging them to inform patients about discontinuing the use of Digene gel in the event of an adverse drug reaction (ADR). As per a TOI report, this move follows a recent complaint received by the DCGI regarding a batch of Digene gel produced by Abbott India in Goa. The complaint highlighted unusual characteristics, including an off-white color, a bitter taste, and a pungent odor in the mint-flavored variant of the popular anti-acidity formulation.

The Drugs Controller General of India (DCGI) is intensifying oversight to ensure safety and transparency. Recently, it issued advisories to discontinue the use of Abbott's Digene Gel, a popular antacid medication, and Takeda's Adcetris Injection for cancer treatment, citing safety concerns. Mint takes a closer look at the developments.

₹2.25 lakh. Bookings for the 42 Bobber Black Mirror are now available at Jawa dealerships. In addition to cosmetic updates, the manufacturer has also enhanced and reintroduced the engine.