Manufacturing Financial News

03.08 / 13:59

Manufacturing Platform country social ‘Is this just a coincidence?’, netizens ask as govt imposes import sanction on laptops days after JioBook launch

import restrictions on laptops, tablets, and certain types of computers, citing security concerns and the desire to boost domestic manufacturing. This measure will not only limit the influx of these products from countries like China and Korea but also require importers to obtain government permission or licenses for inbound shipments. As per a government notification, the import of restricted items will be allowed only against a valid license.

03.08 / 13:49

UPS Progressive Manufacturing Mobile cover electronic Cabinet secretary reviews progress of PLI scheme in certain sectors; another meeting likely soon

Cabinet secretary Rajiv Gauba on Thursday reviewed the progress of the production-linked incentive scheme (PLI) for sectors that are «generally doing very well» like pharma and electronics, a senior official said. Another such review is expected for the remaining sectors, the official said. The scheme was announced in 2021 for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones and pharma with an outlay of Rs 1.97 lakh crore.

03.08 / 13:23

UPS IPO Manufacturing band country Concord Concord Biotech IPO: GMP indicates strong investors' interest ahead of issue opening

IPO) of Concord Biotech will open for public subscription on August 4 and close on August8. Ahead of the issue opening, the company's shares commanded a premium of Rs Rs 325 in the unlisted market. The company is one of the leading global manufacturers of select fermentation-based APIs (F-APIs) across immunosuppressants and oncology with market share of over 20% by volume in 2022.

03.08 / 12:59

UPS Lowe's Manufacturing COMPOSITE country India needs to focus on manufacturing to achieve sustained 7-7.5 per cent growth until 2030: CEA V Anantha Nageswaran

manufacturing sector to achieve sustained growth of 7-7.5 per cent until 2030, Chief Economic Advisor V Anantha Nageswaran said. In an S&P Global report titled 'Look Forward: India's Moment', Nageswaran said that manufacturing should be a key growth area given the country's comparative advantage in terms of skilled labour, improved physical infrastructure, well-established industrial ecosystem and large domestic market.

03.08 / 12:39

UPS Cooper Manufacturing CEO Mobile Metro Govt to continue FAME subsidy, plans payment security mechanism for EVs: PMO advisor

New Delhi: The government is committed to driving the adoption of electric vehicles and will continue with the FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) subsidy to bridge the price difference in EVs, said Tarun Kapoor, adviser, Prime Minister’s Office, said on Thursday. Speaking at the national conference on electric mobility organized by Assocham, Kapoor emphasized the importance of finding ways to bring down the price of EVs, as government subsidies cannot be permanent.

03.08 / 12:37

COST UPS Provident Lowe's Waters Manufacturing performer Mind Heater Buying Guide: Tips to keep in mind before purchasing room heaters

Choosing the right heater for your needs can be a difficult task, so we've put together this guide to help you make the best decision. This guide will cover the different types of heaters, the features to look for and the potential benefits and drawbacks of each type. By the time you finish reading this guide, you'll have the information you need to make the right decision.

03.08 / 12:37

UPS Manufacturing CEO Platform Quess Corp headcount tops 525,000, profit drops 29% in Q1

Quess Corp has reported a profit after tax (PAT) of Rs 48 crore for the quarter ended June, recording a drop of 29% or Rs 20 crore over the same period last year. The company had reported a PAT of Rs 30 crore in the fourth quarter of FY23. As a result, the earning per share (EPS) has dropped from Rs 4.48 in the year-ago period to Rs 3.21 in the June quarter.

03.08 / 12:31

COST UPS Manufacturing Action Cummins cover Costs Cummins misses profit expectations on high manufacturing costs

(Reuters) — Engine maker Cummins (NYSE:CMI) reported a second-quarter profit on Thursday that missed analysts' estimates, hurt by high manufacturing costs.

03.08 / 12:17

COST Manufacturing Remark country Maruti Suzuki Alto achieves 45 lakh sales milestone

Maruti Suzuki India (MSI) announced on Thursday that its entry-level hatchback, Alto, has achieved a significant milestone of crossing 45 lakh sales. The model was initially introduced in the year 2000 and quickly gained popularity, becoming the highest-selling car in the country by 2004. Over the years, the Alto continued to soar in sales, hitting the 10 lakh mark in 2008, 20 lakh in 2012, and 30 lakh in 2016.

03.08 / 11:23

COST Manufacturing Strategy country Food industry impacted by high commodity prices: Britannia Ind

Britannia Industries Limited said that the food sector in which it operates has been significantly impacted by high commodity prices, rising interest rates and due to the fall out of the Russia-Ukraine conflict.The long term effects of these factors continue to be felt extensively, the company said in its annual report for 2022-23. It said that although commodity prices were volatile and inflation was at unprecedented levels, the post-COVID normalisation of economic activities supported growth throughout 2022-23.

03.08 / 11:17

COST Citi Provident Citizens Manufacturing Action Future How to address the current and future challenges in housing sector

Rapid urbanization and migration have been driving the growth of cities in India, attracting people with the promise of better employment, living standards, educational facilities, and infrastructure. While this trend has brought numerous benefits, such as an increase in the skilled workforce and technological advancements, the negative impact of migration and urbanisation cannot be ignored. The housing shortage in our cities has reached alarming levels, necessitating urgent action and futuristic planning to address the issue.

03.08 / 11:17

Citi Progressive Manufacturing Dreams Metro Tapestry Adore Group to develop Rs 600-cr luxury housing project in Faridabad

NCR-based real estate company Adore has ventured into luxury real estate. The group has purchased 5.5 acres of land in Sector 76 in Faridabad from the Haryana government for Rs 124 crore. It will develop a luxury housing project with an aggregate saleable value of Rs 600 crore.

03.08 / 11:05

Provident Digital Manufacturing Strategy Mobile Actor country Indian Indian economy's size to double by FY31, growth to average 6.7%: S&P Global

economy to average 6.7% growth between FY24 and FY31 and double the size of the economy to $6.7 trillion within the next eight years, S&P Global Ratings stated in its report released on Thursday. S&P stated that India can capitalise on this moment when the world faces unprecedented transition and uncertainty.

03.08 / 10:11

UPS Lowe's Manufacturing Action shootings week KSB shares shoot up 13% to 52-week high on strong Q1 earnings

KSB shares jumped nearly 13% on the NSE to hit their 52-week high of Rs 2,597.95 in Thursday's trade following a 32% year-on-year (YoY) jump in its consolidated June quarter net profit. The results triggered strong buying action on the counter with a combined volume of over 10 lakh shares on both the NSE and BSE. The company posted a profit after tax (PAT) of Rs 62.8 crore in the June 30 ended quarter versus Rs 47.4 crore posted in the year-ago period.

03.08 / 08:59

COST UPS Target Manufacturing Enterprise country open After Sanghi Industries, Ambuja keeping its options open on acquiring other cement companies: Karan Adani

Karan Adani, Director, Ambuja Cements, says: “ We keep looking at opportunities. If it comes at the right price which is very strategic, we will keep our options open.” Coming to Sanghi Industries, with its location advantage and unique marine infrastructure, Adani says “the idea is that we want to make its Kachchh plant the lowest cost clinker production plant in the country and the target is to manufacture clinker at around Rs 1,500-1,600 per tonne.”Ambuja Cements has acquired a majority stake in cement maker Sanghi Industries at an enterprise value of Rs 5,000 crore. Can you explain the logic behind this move?First of all, there are a lot of location advantages in this transaction.

03.08 / 08:59

Manufacturing Tesla show track New car sales hit July record, electric vehicles jump

New vehicle sales in Australia hit a monthly record in July as the supply of new cars accelerated after pandemic backlogs and buyers of electric vehicles injected fresh impetus.

03.08 / 08:59

Provident Manufacturing performer Technical Breakout: KEI Industries, Quess Corp, 2 other counters cross 50-day SMA

KEI Industries, Prism Johnson, Quess Corp, and Balaji Amines showcasing strong performance in their respective sectors. Let's explore the performance of these stocks. (Data Source: StockEdge)1. KEI IndustriesKEI Industries, a leading manufacturer of power cables, demonstrated a positive market trend by crossing its 50-day SMA at Rs 2283.42, and its closing price on August 2 was Rs 2372.75.2. Prism JohnsonPrism Johnson, a major player in the building materials industry, exhibited promising market performance as it surpassed its 50-day SMA at Rs 126.04, with a closing price of Rs 129.35 on August 2.3. Quess CorpQuess Corp, a leading business services provider, displayed strong market momentum by crossing its 50-day SMA at Rs 428.58, with a closing price of Rs 428.95 on August 2.

03.08 / 08:57

UPS Lowe's Manufacturing NIFTY HAL country dividend 3 High Dividend Stocks Up More Than 30% in 2023

make money in stocks. There’s the popular way - capital gains (i.e. growth) and there’s the not-so-popular way - dividends (i.e.

03.08 / 07:49

UPS Target Manufacturing CEO Platform track Holdings stake Temasek Holdings to invest Rs 1,200 crore in Mahindra Electric, acquire up to 3% stake

Temasek Holdings and Mahindra & Mahindra have executed a binding agreement whereby the former will invest Rs 1,200 crore in the latter’s subsidiary Mahindra Electric Automobile Ltd. Temasek will invest the money by subscribing to compulsorily convertible preference shares at a valuation of Rs 80,580 crore, M&M said in a release. This investment will result in Temasek holding a 1.49-2.97% stake in Mahindra Electric Automobile.

03.08 / 07:39

UPS Extreme Manufacturing Edison Inside week Prepare to flick off your incandescent bulbs for good under new US rules that kicked in this week

Thomas Edison's pioneering incandescent light bulb, which cast illumination by heating a filament until it glowed, is fading into history

03.08 / 06:49

Manufacturing COMPOSITE show services India's services PMI growth at 13-year high of 62.3 in July

Also Read: Morgan Stanley upgrades India to Overweight citing ‘less extreme’ valuations; downgrades China to Equal-weight "The resilience of the service sector underscores its vital role in fuelling India's economy, with the PMI results for July so far pointing to a notable contribution from the sector to overall GDP for the second fiscal quarter," noted Pollyanna De Lima, economics associate director at S&P Global Market Intelligence. Meanwhile, the manufacturing sector PMI dipped to 57.7 in July, data released on Monday showed.

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