Manufacturing Financial News

₹61.70 crore which is amongst one of the most expensive deals in the Nizamuddin area, according to sale deed documents, reported Moneycontrol. The buyer, Renu Khuller, who is a director at GlobalDent Aids, paid a stamp duty of around ₹3 crore for the property. The bungalow was sold by Bharat and Janak Garg to the director of the company that manufactures interdental brushes.

electric vehicle batteries, the company said in an official statement. Earlier in May this year, Hyundai Motor Co announced to investment of around 2 trillion won ($1.51 billion) in Ulsan, South Korea to build a designated electric vehicle (EV) factory.

Amidst a dynamic landscape in the cryptocurrency realm, Bitcoin's price has taken center stage. 

Indian market. On the other hand, the Nifty IT pack is set to buck the trend. While the majority of sectoral indices are in the red, the Nifty IT pack is up about 4 per cent this month against a nearly 2 per cent loss in the Nifty index.

The Russian currency has stabilized after dipping below 100 rubles to the U.S. dollar — but that doesn't mean the pressure is off Russia's economy

Cryogenic tank maker Inox India Ltd has filed preliminary papers with capital market regulator Sebi to mop up funds through an initial public offering.

«In fact, August numbers in the industry predicted to be just around the 355,000 mark which could make it the highest ever month also. Last was September 2022, which was 3,55,400 odd vehicles. So, yes, it has been a great run so far,» says Shashank Srivastava, Maruti Suzuki India.Industry channel checks have been indicating that in the month of August, the passenger vehicle demand was actually up 9% and Maruti sales were higher than the industries. What has been your analysis, whether this is a trend which is here to stay?So far this year has gone very well for the auto industry. So, we have seen a record April, highest ever April, the highest ever May, highest ever June, highest ever July, looks like the highest ever August. In fact, August numbers in the industry predicted to be just around the 355,000 mark which could make it the highest ever month also. Last was September 2022, which was 3,55,400 odd vehicles. So, yes, it has been a great run so far. And now we are into the festive season, the beginning in Onam festival in Kerala, that is where the festive season starts, has been pretty good, almost a 25% jump in retails. So, I think so far going is good. We have those couple of question marks though going forward. But yes, it has been good so far for the auto industry this year.

India is preparing to start the auction process for some 100 critical mineral blocks in the next four months, as part of plans to secure domestic supplies of the raw materials needed to fuel the green energy transition. The blocks are for minerals including nickel, lithium, cobalt and platinum, along with rare earths, Mines Secretary Vivek Bharadwaj said in an interview in New Delhi. “The legal framework has been laid out and the blocks have been identified,” Bharadwaj said. The tender seeking bids is expected to be out by December and auctions may start three months later, he added. The South Asian nation is racing to ensure critical minerals security to power its ambition to make the country a key battery and electric vehicles manufacturing hub and help attain a net zero goal.

BEIJING — U.S. Commerce Secretary Gina Raimondo has left Beijing with a few deliverables: plans for formal discussions on export controls and tourism.

Melbourne-headquartered fashion label Nobody Denim – founded by well-known rag trader John Condilis – has axed 40 garment workers at its owned manufacturing facility leaving questions over the viability of the premium denim maker’s production in Australia.

Nilesh Shah, MD, Kotak AMC, says “when smallcap starts trading at a premium to largecaps, when micro caps and mini caps start trading at the premium to largecaps, then there is a need to be a little bit cautious. Many of the micro caps and mini caps are today trading at valuation which looks excessive. They are trading there because floating stock is limited. There is a herd mentality in buying what moves and maybe distribution is already happening. There is no harm in being cautious when making money is easy.”I used to think that we are the only two bulls in the town. But when I look around, everybody suddenly is the India bull. Everybody is excited with what is happening in the midcap space, the smallcap space and the SME space. Now should one turn bearish for the sake of turning bearish or stay with the market?If you are a long-term investor, you can stay bullish. If you are a trader, especially in micro caps, mini caps and small caps, this is time to be cautious.

reliance on China and Taiwan. Following his participation in the inaugural Republican primary debate, where his popularity saw a notable upswing, Ramaswamy articulated his foreign policy stance and proposed strategies on Tuesday. Ramaswamy criticized Nikki Haley, a fellow Indian American Republican presidential candidate, who had previously criticized him for his lack of experience in matters of foreign policy.

Laurus(up 2.65 per cent), Gland Pharma(up 1.99 per cent), Ipca Laboratories(up 1.22 per cent), Glenmark Pharmaceuticals(up 1.19 per cent) and Granules India(up 1.03 per cent) were among the top gainers. Sanofi India(down 0.32 per cent), Natco Pharma(down 0.32 per cent), Pfizer(down 0.1 per cent), Abbott India(down 0.05 per cent) and Divis Laboratories(down 0.05 per cent) were the top losers on the index. The Nifty Pharma index was up 0.52 per cent at 15199.1 at the time of writing this report. Benchmark NSE Nifty50 index was up 94.8 points at 19437.45, while the BSE Sensex was up 334.32 points at 65410.14. Among the 50 stocks in the Nifty index, 40 were trading in the green, while 10 were in the red. Shares of Zomato, Suzlon Energy, Reliance Power, BHEL and JP Power were among the most traded shares on the NSE. Shares of Pritika Engineering, P E Analytics, Ameya Precision Engi, Delta Manufacturing and Menon Bearings hit their fresh 52-week highs in today's trade, while Penta Gold, Proventus Agrocom, Rajnandini Metal, Rajesh Exports and Shrenik hit fresh 52-week lows in trade.

₹55.95 apiece on NSE Emerge, a premium of 7.59% to the issue price of ₹52 per share. Crop Life Science is engaged in the business of manufacturing, distributing, and marketing agrochemical formulations. The SME company had launched its initial public offering (IPO) on August 18 to raise ₹26.73 crore from the primary market.

China for computer chips, solar panels and various consumer imports amid growing concern over Beijing's security threats, human rights record and dominance of critical industries. But even as policymakers and corporate executives look for ways to cut ties with China, a growing body of evidence suggests that the world's largest economies remain deeply intertwined as Chinese products make their way to America through other countries. New and forthcoming economic papers call into question whether the United States has actually lessened its reliance on China — and what a recent reshuffling of trade relationships means for the global economy and American consumers. Changes to global manufacturing and supply chains are still unfolding, as both punishing tariffs imposed by the administration of former President Donald Trump and tougher restrictions on the sale of technology to China imposed by the Biden administration play out. The key architect of the latest restrictions — Commerce Secretary Gina Raimondo — is meeting with top Chinese officials in Beijing and Shanghai this week, a visit that underscores the challenge facing the United States as it seeks to reduce how much it depends on China at a moment when the countries' economies share so many ties. These reworked trade rules, along with other economic changes, have caused China's share of imports into the United States to fall as the share of imports into the U.S.

Ahead of the IPO opening, the company raised Rs 147 crore from anchor investors, where marquee funds, including HDFC MF, Nippon MF, Quant MF and Tata MF among others participated. Analysts advised investors to subscribe to the issue for the long term as the company is backed by strong manufacturing capabilities, diverse product portfolio and solid financials. «Rishabh Instruments stands as a global leader in manufacturing and supplier of analog panel meters and low voltage current transformers. We recommend a 'Subscribe' to the issue from the view of listing gains as well as for the long term,» said Hensex Securities. The Rs 491 crore IPO comprises a fresh equity issue of Rs 75 crore and an offer for sale (OFS) of up to 94.28 lakh shares, which comes to about Rs 416 crore. The issue is priced in the range of Rs 418-441, where investors can bid for a minimum of 34 shares in one lot and in multiples thereafter. About 50% of the offer is set aside for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors. Rishabh Instruments is a global energy efficiency solution company focused on electrical automation, metering and measurement, precision-engineered products etc., with diverse applications across industries including power, automotive and industrial sectors. The company is a global leader in the manufacturing and supply of analog panel meters, and they are among the leading global companies in terms of manufacturing and supply of low voltage current transformers. «At the upper price band, the company is valuing at P/E of 34.3x FY23 earnings with a market cap of Rs 1674 crore post issue of equity shares and return on net worth of 11.67%.

₹418 to ₹441 per equity share of face value of ₹10 each. The IPO lot size is 34 equity shares and in multiples thereafter. The public offer comprises a fresh issue of equity shares worth ₹75 crore and offer for sale (OFS) portion aggregating to 9.43 million equity shares of ₹415.78 crore.

Russia has informed Brazil's aircraft investigation authority that it will not probe the crash of the Brazilian-made Embraer jet that killed mercenary boss Yevgeny Prigozhin under international rules «at the moment», the Brazilian agency told Reuters on Tuesday. Prigozhin, two top lieutenants of his Wagner Group and four bodyguards were among 10 people who died when the Embraer Legacy 600 crashed north of Moscow last week. He died two months to the day after staging a brief mutiny against the Russian defense establishment that posed the biggest challenge to President Vladimir Putin's rule since he rose to power in 1999. Brazil's Center for Research and Prevention of Aeronautical Accidents (CENIPA), in the interests of improving aviation safety, had said it would join a Russian-led investigation if it were invited and the probe held under international rules. Russia's aviation authority was not obligated to say yes to CENIPA, but some former investigators said it should, as the U.S. and other Western governments suspect the Kremlin of being behind the Aug.

U.S. officials say the FBI and its partners in Europe infiltrated and seized control of a major malware network that was used for more than 15 years to commit a gamut of online crimes including crippling ransomware attacks

Medicare, taking aim at some of the most widely used and costliest medicines in America. At stake is arguably the government’s strongest effort to date to tackle high drug costs—if drugmakers can’t persuade courts to scuttle the negotiating powers that Medicare was granted last year. On the list of targeted medicines announced by the Biden administration Tuesday are treatments for cancer, diabetes and heart disease that can cost tens of thousands of dollars a year or more, including blood thinner Eliquis and diabetes treatment Jardiance.

The dealmaking interest in ASX-listed lithium miners has spilled over to their unlisted counterparts.