Manufacturing Financial News

capital expenditure or capex as popularly known. Capex is crucial for companies' growth as it signifies investment in their future. With that in mind, let’s look at the companies that spent the most in capex in FY23 and are also investing heavily for the years to come.

Mineral Resources is in talks with car makers about joining forces in lithium after ditching battery chemicals giant Albemarle as a partner in processing as it tries to divert its mineral output away from China.

Mukesh Ambani a centi-billionaire — they may well determine the hold of the family-run conglomerate on India’s broader economy when control passes to the next generation. That transition could arrive by 2028. At Reliance Industries Ltd.’s annual general meeting Monday, the 66-year-old announced that his three children would be joining the board, even as he continues as chairman and managing director for five more years. Reliance’s sway has grown following a $150 billion investment spree over the past decade.

By Khanh Vu and Phuong Nguyen

SoftBank-backed British semiconductor and chip manufacturer Arm will start investor meetings next week, ahead of what is slated to be the year’s biggest initial public offering.

Gulf Oil Lubricants is on a lookout for more acquisitions in India and globally within the charging EV ecosystem as it seeks to strengthen its presence in the electric mobility segment where it’s a new entrant. This is even as the company plans to continue to focus on its core lube business. The Hinduja Group company announced acquiring a controlling stake in Tirex Transmission for Rs 103 crore on Monday.

clinical trial registries. They also acknowledged the potential of evidence-based T&CM practices in public health delivery systems, provided they are rigorously and scientifically validated to be safe and effective as per WHO TM Strategy 2014-23, extended till 2025," said an official.

Given the longer-term growth story of Indian markets and current reasonable valuation levels, investors have an opportunity to accumulate quality stocks at the current juncture, said Karan Doshi, Fund Manager and Senior Equity Research Analyst of LIC Mutual Fund, in an interview with Mint. He underscored one should invest in companies with good corporate governance, a healthy balance sheet, strong growth potential over the next three to five years and valuations at reasonable levels. Edited excerpts: Indian economy is at an inflexion point that marks the start of a new virtuous growth cycle.

Gokaldas Exports share price were locked at 20% upper circuit at a 52-week high on Tuesday after the company announced the acquisition of Dubai-headquartered Atraco Group (Atraco). Gokaldas Exports shares jumped as much as 20.00% to a 52-week high of ₹736.30 per share on the BSE. Gokaldas Exports through its wholly owned subsidiaries has entered into an agreement to acquire Atraco Group (Atraco), a leading manufacturer of apparel with a strong market position across US and Europe.

Noumi, the manufacturer of MilkLab and other plant-based dairy products which formerly traded as Freedom Foods, posted a narrower annual net loss of $46.9 million as it advances a turnaround for the business having nearly went under two years ago.

₹470.25 crore in Fiscal 2022 to ₹569.54 crore in Fiscal 2023, primarily driven by increase in revenue from sale of goods and from sale of services, whereas profit grew to ₹49.69 crore in Fiscal 2023, as compared to ₹49.65 crore in Fiscal 2022. Also Read: Mono Pharmacare IPO opens today. GMP, price, review, other details in 10 points There are no comparable listed firms in India or overseas that conduct business in a manner similar to that of the company, according to the RHP of the company.

Reliance Industries Ltd (RIL) chairman Mukesh Ambani said his three children — daughter Isha and sons Akash and Anant — will be inducted on the board as non-executive directors. He will continue as chairman and managing director for another five years, he announced at the RIL annual general meeting (AGM) on Monday. Additionally, wife Nita Ambani resigned from the RIL board, making way for her children and to focus on the Reliance Foundation philanthropic arm, of which she's chairperson. She will continue to attend all the RIL board meetings as a permanent invitee. The announcement comes a year after the billionaire chairman said his children would have significant roles in the businesses of India's most valuable private sector company. «I am happy to report to you that earlier today, the board met and recommended the induction of Isha Ambani, Akash Ambani and Anant Ambani into the board of directors of RIL,» Mukesh Ambani said in his address to shareholders at the 46th AGM held virtually. «I can proudly say that they have earned their stripes through dedication, commitment, and hard work.»'Will mentor Akash, Isha and Anant'

(Reuters) — Lordstown Motors is formulating a debt repayment plan and is hopeful that it will find buyers in Chapter 11 for all or parts of its business, Bloomberg News reported, citing the electric truck manufacturer's attorney Thomas Lauria.

Rishabh Instruments, a maker of a wide range of electrical measurement instruments and process optimisation equipment, plans to raise ₹491 crore from an initial public offer. It comprises a fresh issue of ₹75 crore that would be used for capacity expansion at its Nashik facility and an offer of sale of ₹415 crore from promoters and investors. The promoter holding would drop to 70.6% post-IPO from 80.67%.

India has a tremendous opportunity to expand its manufacturing base due to the current supply chain relocation triggered by geopolitical situation, and the country should grab the opportunity with both hands, says Punit Renjen, CEO-emeritus of Deloitte Global and the incoming chairman of SAP. In an interview to ET's Surabhi Agarwal & Bodhisatva Ganguli, he also talks about his «second innings» at SAP, and how the enterprise software major will significantly expand its India base from the current 17-18% of workforce. He believes that this is India's century and AI will help India further bridge the skills and education gap. Edited Excerpts:How has the transition been from an audit/consultancy business to SAP, which is a storied enterprise software company? I'm a big cricket fan.

Exxon Mobil sees the world failing to reduce emissions fast enough to limit global warming to 2C (3.6F) above pre-industrial norms by 2050 due to soaring economic growth, particularly in developing countries.

By Arriana McLymore

Stocks that traded heavily or had substantial price changes on Monday: 3M, Boston Scientific rise; Abcam, NovoCure fall

Rising trade barriers

Terry Gou, the founder of Apple supplier Foxconn, plans to run as an independent in Taiwan's presidential election next year, ending months of speculation

By Svea Herbst-Bayliss and Maggie Fick