Manufacturing Financial News

Wholesale prices in the United States picked up in July yet still suggested that inflationary pressures have eased this year since reaching alarming heights in 2022

Justin Cameron, the co-founder of online retailer SurfStitch, has snared $US27.5 million ($42.13 million) of funding from ABN AMRO in Europe for his ecological group of brands ranging from oat milk to cloth nappies.

According to a regulation by the top medical body, the doctors will have to prescribe generic drugs to patients, or else they will be penalised even if their license to practice may also be suspended for a period. In the latest notification by the National Medical Commission (NMC), doctors need to avoid prescribing branded generic drugs. Even though doctors are currently required to prescribe generic drugs only, there are no penal provisions mentioned in the regulations issued in 2002 by the Indian Medical Council.

Devang Mehta, Director-Equity Advisory, Spark Private Wealth, says “after a long hibernation, pharma has come out of its orbit. Probably, there is a lot more upside. Of course, one needs to be a little more specific in terms of whether it is US generic pharma or an MNC pharma or for that matter even a path lab but most of the businesses look interesting in terms of valuations.” Is there a bit of a chink in the armour of the entire thesis that the peak of the rate cycle is already over, inflation is under control? Or do you think the RBI step is very transient?It seems more like a transitory measure, Yesterday’s policy statement post the RBI policy also did not indicate any major concerns on the food inflation front.

Niger’s military officer and chief of presidential guard General Abdourahamane Tchiani carried out a coup and ousted President Mohamed Bazoum from power just a few days after China’s Ambassador to the West African country Jiang Feng met him to discuss building of an industrial park in the capital Niamey in what is a lesser-known fact. The proposed industrial park, it is said, will have a significant impact on sectors like food, manufacturing, mining, and real estate of Niger.

FIT Hon Teng's (Foxconn) board approved a $400-million investment in Telangana, Foxconn India representative V Lee said in a LinkedIn post. This is in addition to an earlier commitment of $150 million Foxconn had made in the state. «FIT Singapore intends to inject a capital sum of $400,000,000 into Chang Yi Interconnect Technology (India) Pvt Ltd, in which FIT Singapore holds 99.99% of the capital stock,» FIT Hon Teng said in a filing to the Hong Kong Stock Exchange on Friday that was posted by Lee.

The Department of Energy announced Friday it is awarding up to $1.2 billion to two projects that promise to remove carbon dioxide from the air in what officials said was the largest investment in “engineered carbon removal” in history

Wholesale prices in the United States picked up in July yet still suggested that inflationary pressures have eased this year since reaching alarming heights in 2022

sturdy ropes but its resin is a prohibited narcotic drug that can land you in jail? Startup companies who plunged into hemp, lured by its eco-friendly potential, are thrown by regulations that trip them at every step. Shalini and Jayanti Bhattacharya’s three-year-old company India Hemp and Co manufactures protein powder and cans of kombucha made with hemp seeds, but the sisters are at their wits’ end as they have been unable to sell their products on many ecommerce platforms. “It has been impossible to get the big ecommerce platforms to understand that hemp food products are approved by the Food Safety and Standards Authority of India (FSSAI) and are different from hemp-based medicinal products that require a prescription from an ayurvedic doctor,” says an exasperated Jayanti.

Taiwan-based Foxconn has revealed plans to increase their investment in India by ‘another $400 million’. Apple's biggest supplier is likely to use its upcoming Kongarkalan facility for the manufacture of AirPods and other digital accesories. The company had laid the foundation for a new electronics manufacturing facility in May this year as part of its USD 500 million investment in Karnataka "…FIT Singapore's proposal to make a capital injection of US$ 400,000,000 to Chang Yi Interconnect Technology (India) Private Limited, which is held by FIT Singapore as to 99.99 per cent of the capital stock," FIT Hon Teng informed the Hong Kong Stock Exchange on Friday.

Andhra Pradesh CID has arrested five people for allegedly misusing the digital signatures of senior officials in the Chief Minister Office's to create fake Chief Minister Petitions (CMP) and illegally making money through this process. The CID took Kanamarla Srinu, Gutthula Sitaramayya, Nalajala Sai Ram, Bhukya Chaitanya Naik and Abdul Razzak into custody, police said on Saturday. «For some time, the digital signatures of CMO officials have been used to generate CMPs. Based on a complaint from the CMO officials, we have registered a case,» said a CID official in a press release. Incidentally, the accused persons were using the e-office login username and password of CMO secretaries to create CMPs by using requests of MLAs and MPs without the authorisation of the officials concerned and sending them across to various departments for implementation. Police identified Srinu to be the prime accused in this case who used to work in officer Revu Muthyala Raju's office as a junior employee.

Microsoft is bringing generative AI to frontline field workers by incorporating its Copilot AI assistant into its field services platform, which not only streamlines workflows but also allows supervisors to see what technicians are doing on the job. Copilot will be added to the Dynamics 365 service, that will be used by field workers such as cable technicians and electricians, as well as a wide range of other jobs in facilities, manufacturing and healthcare, according to a report in the tech publication The Verge.

generic drugs, failing which they will be penalised and even their license to practice may also be suspended for a period, according to the new regulations issued by the National Medical Commission. The National Medical Commission (NMC) in its 'Regulations relating to Professional Conduct of Registered Medical Practitioners" also asked doctors to avoid prescribing branded generic drugs. Even though doctors are currently required to prescribe generic drugs only, there are no penal provisions mentioned in the regulations issued in 2002 by the Indian Medical Council.

NEW DELHI: India's industrial production growth dipped to 3.7% in June, from 5.3% in May. Mint explains why. The growth fell during June primarily due to weaker manufacturing growth.

Servotech Power Systems will invest Rs 300 crore to set up an EV charger manufacturing plant in Uttar Pradesh as part of an agreement with the state government. The manufacturing facility is being set up under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022, the company said in a statement on Saturday.

Telangana, V Lee, Foxconn India representative said in a social media post. Taiwan-based contract manufacturer Foxconn is Apple's biggest supplier. "...FIT Singapore's proposal to make a capital injection of US$ 400,000,000 to Chang Yi Interconnect Technology (India) Private Limited, which is held by FIT Singapore as to 99.99 per cent of the capital stock," FIT Hon Teng informed the Hong Kong Stock Exchange on Friday.

defence technology exhibition, showcasing latest weapons, vehicles and other equipment, will be held for the first time in the Northeast, with Assam's largest city Guwahati gearing up to host the event in October. A meeting to review the preparations was held between the state government and top Army officials here on Friday, Assam Industries and Commerce Minister Bimal Borah said.

Small-cap multibagger stock below ₹100: Servotech Power shares are one of the multibagger stocks that Indian stock market has produced in last 2023. In fact, in last one year, this small-cap stock below ₹100 has risen from around ₹2.50 to ₹86 apiece levels on NSE, logging over 3300 per cent rise in this time. So, the penny stock turned a multibagger penny stock in last two years, turning ₹1 lakh of its positional investors to ₹34 lakh in mere two years time.

₹5140 crores, a growth of 30% on a YoY basis. Profit After Tax of ₹1087 crores was more than double of last year’s base and grew by 110%. EBITDA saw a significant jump of 81% YoY at Rs1505 crores, with EBITDA margins of 29.3% vs 21% in corresponding previous quarter.Revenue growth was led by significant growth in US business, which grew by 57% YoY at ₹2454 crores.

Steel is one commodity that has held a top position among metals for a long time. It continues to do so because steel is both a raw material and an intermediary for several industries. This could be why the production and consumption of steel are used as a parameter to gauge a nation's economic progress.

Tata Technologies IPO: After a gap of near 19 years, a Tata group company is going to list at Indian stock market and this new Tata group company is Tata Technologies Ltd, a Tata Motors subsidiary. Tata Technologies Ltd has received nod from the market regulator SEBI (Securities and Exchange Board of India), Dalal Street observers are eagery awaiting for the Tata Technologies IPO subscription opening date. According to stock market experts, Tata Technologies IPO date can be expected by the end of August 2023 or by mid-September 2023.