Manufacturing Financial News

Krishna and other deities, in anticipation of Janmashtami. As per a TOI report, business owners in the region have reported a surge in demand this year, with bulk orders pouring in from over 40 countries, including the US, Australia, New Zealand, the UAE, and several European nations. Some projections suggest that Janmashtami sales could exceed a staggering Rs 200 crore. Anil Agarwal, hailing from a family with a rich history in apparel manufacturing, told TOI, «In the run-up to the festival, we've shipped costumes worth crores to overseas destinations and various states across India.

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₹778 crore to set up its first food-focussed manufacturing plant in Assam, easing access to markets in the north-east region. The manufacturing facility, spread over 44.2 acres in Nalbari, is proposed to be operational in 2025. It will provide direct and indirect employment opportunities to 500 people.

China has ordered officials at central government agencies to not use Apple's iPhones and other foreign-branded devices for work or bring them into the office, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The orders were given by superiors to their staff in recent weeks and it wasn't clear how widely the orders were being distributed, the WSJ said.

India’s manufacturing purchasing managers index (PMI) rose to a three-month high in August, following an increase in orders and output. However, India’s services-sector growth slowed down in August after hitting a 13-year high in July. Mint explains the significance of PMI data.

New Delhi: Drugmaker Abbott India has voluntarily recalled several batches of antacid Digene Gel after the Drug Controller General of India (DCGI) issued an advisory against using the product. The regulator said that the impugned product, manufactured at the company’s Goa unit, may be unsafe, and could result in adverse effects when consumed.

trade pacts with certain G20 countries and diversifying exports to regions like Brazil and Mexico could help India boost outbound shipments and manufacturing in the years to come, Chairman, CII national committee on EXIM, Sanjay Budhia, said on Wednesday. He said that tapping into opportunities in G20 countries is crucial for India's economic growth and global influence. India should diversify its export markets within the G20 countries, Budhia, who is also Managing Director of Patton Group, said. He added that while traditional partners like the United States and the European Union remain important, exploring emerging markets within the G20, such as Brazil, South Africa, Indonesia, and Mexico, can open up new avenues for Indian goods and services. «Negotiating and implementing trade agreements and bilateral deals with G20 member countries may be helpful to tap potential between India and G20 countries.

TSMC, the world's largest contract chipmaker, will decide this week whether to invest in chip designer Arm Holdings' blockbuster initial public offering (IPO), Chairman Mark Liu said on Wednesday. Speaking on the sidelines of the SEMICON Taiwan summit, Liu said his company was still evaluating the matter and, when pressed on when a decision may come, he added «this week».

₹31 apiece, a premium of 3.33% to the issue price of ₹30 per share. Sahaj Fashions IPO had received a decent response from investors. The public issue was subscribed 7.75 times in total during its subscription period from August 25 to August 29.

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₹1 lakh to FMCG major ITC. A Chennai-based consumer forum directed ITC Limited to pay ₹1 lakh for packing one biscuit less in a 16-biscuit "Sun Feast Marie Light" pack. A Chennai-based resident bought ‘Sun Feast Marie Light’ biscuits to feed stray dogs.

Alliance launched the Green Hydrogen Innovation Centre earlier this year, and India itself approved $2.3 billion for the production, use and export of green hydrogen. Global cooperation on green hydrogen manufacturing and supply is expected to be discussed by G-20 leaders at this week's summit in New Delhi. WHAT IS GREEN HYDROGEN? Hydrogen is produced by separating that element from others in molecules where hydrogen occurs.

Jio Financial Services: Jio Financial Services Ltd, the demerged non-banking financial services unit of Mukesh Ambani-led Reliance group, will be dropped from Nifty50, other indices, on September 7, the stock exchange NSE said on Tuesday. Shares of JFSL got listed on the stock exchanges on August 21 due to its spin-off from parent Reliance Industries. During the AGM, RIL announced that JFNSL will enter the insurance segment to offer life, general and health insurance products.

Investing.com-- The Australian economy grew a touch above expectations in the second quarter, data showed on Wednesday, as strong exports and infrastructure spending helped offset the impact of sticky inflation and high interest rates.

BEIJING (Reuters) -China's exports likely contracted at a slower pace in August, a Reuters poll showed on Tuesday, highlighting that manufacturers remain under pressure after outbound shipments recorded their worst performance since February 2020 last month.

The U.S. government is taking a big step toward forcing a defiant Tennessee company to recall 52 million air bag inflators that could explode, hurl shrapnel and injure or kill people

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

DETROIT (Reuters) — General Motors (NYSE:GM)' global head of manufacturing, Gerald Johnson, said in a video statement released on Tuesday the demands received from the United Auto Workers union have “significant costs attached that would threaten our ability to maintain our manufacturing momentum.”

Family-owned printing, packaging and labelling business Winson Group has its sell-side adviser PwC telling potential buyers to think about $208 million revenue this financial year as its founding family looks for an exit.

When the leaders of the G20 countries meet on the 9th and 10th of this month, a primary concern will be accelerating the energy transition to address climate change. There is unanimous acknowledgement of the immediate threat posed by climate change, as well as the urgent need to shift from fossil fuels to non-fossils at an accelerated pace to curb CO2 emissions and strive to limit the global temperature increase to 1.5°C from pre-industrial levels.India has one of the lowest per capita emissions in the world. Our per capita emission is 2.40 tCO2e (tonne carbon dioxide equivalent), whereas the global average is 6.3 tCO2e.

Blackstone, Carlyle, PAG, CVC Capital, BPEA EQT, Brookfield Asset Management and Apax Partners, have evinced interest in acquiring Hyderabad-based pharmaceutical company Sai Life Sciences, said multiple people aware of the development. At present, private equity investors TPG Capital holds about 43.3% stake and Swiss-healthcare fund HBM Private Equity India holds 6% stake, while promoter Kanumuri family owns the rest of the stake in Sai Life. The promoter is looking for a valuation of $800 million (₹6,500 crore) for the company, said sources. However, the company is likely to be valued in the range of $500 million (₹4,000 crore), said a PE fund manager who is keen on the buyout.