Manufacturing Financial News

Niti Aayog is looking at tax-related issues, including inverted duty structure in three sectors of engineering, leather, and textiles, an official said on Monday. The issues are likely to be taken up with higher authorities for their resolution to promote the growth of these sectors, the official said. Industry representatives of leather and engineering sectors said that they have shared a list of GST (Goods and Services Tax) and inverted duty structure-related issues with the Niti Aayog. «We expect the government to resolve those issues as it would help in promoting manufacturing and exports from the country,» an industry official said. The leather sector has recommended the reinstatement of basic customs duty on the import of wet blue, crust and finished leathers. The exercise assumes significance as these three sectors are labour-intensive and contribute significantly to the country's merchandise exports.

Warning bells are ringing for US stocks from signs that high fiscal spending, which underpinned economic growth this year, is unsustainable, according to Morgan Stanley’s Michael Wilson.

TikTok and other social media, are deciding their work lives shouldn’t unfold inside factory walls. Demographic shifts are playing a role. Young people in Asia are having fewer children than their parents did, and at later ages, which means they are under less pressure to earn a steady income in their 20s.

manufacturer of solar panels, has raised Rs 1,000 crore in a funding round led by investment firm ValueQuest. The latest funds raised will be used for a 6 GW capacity expansion, adding to the existing capacity of 12 GW, the company said today. The additional capacity is intended for the manufacturing of solar ingots and wafers, cells and modules.

semiconductors. These so-called strategic, emerging industries now account for over 56% of Hefei’s industrial output, compared with less than 27% in 2013. Whatever local officials have been doing, it appears to be “the right mix of industrial policy and private-sector mojo," says Robin Xing, an economist at Morgan Stanley and a Hefei local.

Suresh Soni, CEO, Baroda BNP Paribas MF, says “in the last three-four months, there have seen about Rs 125,000-150,000 crore of foreign flows, which is more than the entire outflow from FIIs last year. As the Indian growth story remains strong, we believe that foreigners who are relatively under-owned in India might invest more money. Domestic flows have remained strong.

India Cements reported a standalone net loss of ₹75.27 crore in the first quarter of FY24 as compared to a net profit of ₹76.09 crore in the same period last year. The company’s revenue from operations during Q1FY24 declined 3.7% to ₹1,393.04 crore from ₹1,446.23 crore, YoY. Operating performance in the June quarter weakened as earnings before interest, taxes, depreciation and amortization (EBITDA) decreased 83.7% to ₹5 crore from ₹30.9 crore, while EBITDA margin compressed by 170 basis points (bps) to 0.4% from 2.1%, YoY.

semiconductors, from this month. Trade tensions between China and the US don’t look like easing any time soon despite the Biden administration’s overtures to Beijing, including visits to China by top US officials such as Yellen. This has inescapable consequences for global trade.

₹1,000 crore in a funding round led by investment firm ValueQuest, known for its strategic focus on sustainable and progressive ventures. In an earlier round, Waaree Energies had raised around ₹1,040 crore from a clutch of investors including family offices and high net-worth individuals (HNIs), the company said in a statement. The latest funds raised will be used for a 6 GW capacity expansion, adding to the existing capacity of 12 GW.

customs duty on certain items, banning import of used or old equipment, and introduction of performance linked incentive scheme for value-added production will help India's medical devices industry touch USD 50 billion by 2030, a report by think tank GTRI said. Suggesting six action points for the government and industry for accelerating growth of the sector, the Global Trade Research Initiative (GTRI) also asked the government to not allow input tax credit (ITC) for the IGST paid on import of items where basic customs duty is zero; combatting foreign influence; and encourage local sourcing for essential Make in India products.

trading at their 52-week lows. Investing in a falling stock is akin to catching a falling knife that has burned many, with investment values plummeting further. Therefore, buying the dip demands careful consideration.

As the US-China trade war intensifies, China wield... moreAs the US-China trade war intensifies, China wields its control over rare earth minerals as a potent tool against American pressure.

Bharti Airtel, telecom giant on Monday announced its plan to launch ‘Airtel Xstream AirFiber,’ India’s first fixed wireless access (FWA) offering 5G for consumers in Delhi and Mumbai, said the company in its exchange filling. All Xstream AirFiber devices will be manufactured in India under the “Make in India” programme, said the company. Airtel's new launch will be India’s first 5G wireless Wi-Fi solution that will offer internet to consumers in fiber-dark areas. The company hopes to address the last-mile connectivity issue present in both rural and urban India where access to fiber infrastructure is a challenge. At present, fiber-to-home internet services are only connecting only 34 million homes in India, and a very large number of customers struggle for fiber access. The company said that the AirFiber service will be available at a plan starting at Rs 799, which offers up to 100Mbps speed. The plan can be availed for a duration of six months with a one-time refundable security deposit of Rs. 2500.

SBFC Finance and Concord Biotech, currently open for subscription. While both the issues have received thumbs-up from analysts, they clearly prefer SBFC Finance over the other if investors had to pick one.SBFC Finance IPO, which closes on Monday, is reasonably priced, offering room to investors for healthy listing gains. The unlisted market trends validate the reasoning as the GMP for the company's shares is around Rs 38, as against the upper price band of 57.

“We currently have an overweight position in India in our EM portfolio. But that wasn’t always the case. We launched the portfolio 5 years back with a marginally underweight position in India,” says Nikhil Rastogi, Portfolio Manager at Kabouter Management which has an AUM of $1.6 bn.

Moreover, the remaining months of 2023 are not expected to see NFO numbers anywhere close to those of 2022 or 2021, SAS Online founder and CEO Shrey Jain said. The reasons behind the decline in NFOs could be a combination of the factors as the mutual fund industry's dynamics are influenced by various internal and external factors.

Q1 results today: Key benchmark indices Dalal Street snapped its three days losing steak and ended higher on Friday. This upside at Indian stock market has triggered trend reversal speculations as well. However, for intraday traders who believe in stock specific strategy, Q1 results 2023 announced on weekend would be crucial but they are expected to remain equally vigilant about the Q1 results getting announced today.

Gabriel India, Karur Vyasya Bank, Navneet Education, RITES Ltd, and three others will be in focus on Monday as they will trade ex-dividend today. A total of seven stocks will trade ex-dividend today. The ex-dividend date is the day on which the price of an equity share adjusts to reflect the next dividend payout.

Bank of BarodaBank of Baroda's net profit rose 88% to Rs 4,070 crore in the June quarter. The Net Interest Income grew by 24% YoY to Rs 10,997 crore.Reliance IndustriesJio Financial is expected to listed soon, RIL said in its annual report as it seeks to propel its recently carved out unit into India’s largest non-banking lenderDelhiveryLogistics services provider Delhivery Ltd saw its losses narrow significantly in the quarter ended June.

There’s more Asian capital hunting local vitamin and supplements brands.

Praising Tamil Nadu for the place its people hold at the top of companies across sectors globally, Vedanta Group’s founder-chairman Anil Agarwal on Sunday said that in Silicon Valley people do not want a ‘John’, people want a ‘Raghavan’. He said that the people of Tamil Nadu were thriving across sectors. “For me to come to Tamil Nadu, it is a dream come true.