Manufacturing Financial News

New Delhi: India’s wholesale price index plunged deeper into deflationary territory in June, even as retail prices, especially food and vegetables, surged, official data showed. The wholesale price index experienced a 4.12% decline in June, driven by lower prices of fuel, textiles, and some food products, according to data released by the commerce and industry ministry on Friday. This decline follows a 3.48% fall in May, marking the third consecutive month of wholesale deflation.

₹894.10 crore,the company informed the stock exchanges on Friday. “This is to inform you that the company received a letter on 13 July from IPICOL informing that the State Level Single Window Clearance Authority in its meeting on 10 July has approved in-principle a proposal for setting up a food processing facility at Mundaamba, Block-Jankia, in the district of Khordha with an investment of about ₹894.10 crore, subject to fulfilment of the conditions by the firm." The proposed will be Nestlé’s tenth manufacturing facility in India. The announcement aligns with the firm’s plans to allocate ₹5,000 crore for constructing research centres and factories by 2025.

New Delhi: Declining demand and prices worldwide dragged down India’s exports and imports by more than 20% each in June, trade data released on Friday showed. Merchandise exports fell for the fifth consecutive month, registering a steep 22% decline to $32.97 billion from $42.28 billion a year earlier. The value of petroleum product exports plunged nearly 50% during the period, as prices of refined crude products fell.

Elista has signed an MoU with the Government of Andhra Pradesh to invest Rs 100 crore in setting up its second manufacturing plant in Andhra Pradesh. Elista recently announced setting up a modern 1.32 lakh sq ft facility in Andhra Pradesh with an investment of Rs 250 crore in March 2023. This will be the second consecutive plant from Elista in the state.

Defence Staff General Anil Chauhan said on Friday. Addressing the inauguration of the DRDO Directors' Conclave here, he also said theaterisation will ensure «effective response along the entire spectrum of conflict». Gen Chauhan stressed the need to perform, reform, transform, inform and conform to meet the emerging challenges, the defence ministry said in a statement.

Technologies India on Friday said it has collected Rs 189 crore from anchor investors days ahead of its Initial Public Offering (IPO). The company has allocated 37.8 lakh equity shares to 25 funds at Rs 500 per share, which is also the upper end of the IPO, according to a circular uploaded on BSE website. Nomura Funds, Goldman Sachs Funds, ICICI Prudential Mutual Fund (MF), HDFC MF, WhiteOak MF and Nippon MF, among others participated in the anchor round.

Like nearly everyone who boards a commercial airliner these days, Tina Dixon hates the tiny, uncomfortable seats. At 6-foot-6, she has a point. “They are a new form of a torture chamber," said Dixon, 62 years old, from Blackshear, Ga.

Union Finance Minister Nirmala Sitharaman said on Friday. Addressing an intellectuals' meet organised by the district unit of BJP in Udupi, she said the BJP rule was marked by «Seva, inclusion and improvement of Micro, Small and Medium Enterprises (MSMEs).» The reforms brought in by Prime Minister Narendra Modi-led union government in the financial sector has helped the ease of doing business, particularly in the small and medium sector in the country, she noted. She further said the Modi government has accorded priority to the growth of MSMEs by removing archaic laws and compliance burden.

Forget “energy transition” and “just transition” to describe the transformation of our energy systems. Call it the “boondoggle transition” because that’s what it is turning into.

Foxconn) as all legal hurdles for the transfer of land have been cleared, Karnataka’s Industries Minister MB Patil informed the legislative assembly on Friday. The Taiwanese tech giant has proposed to commission an assembly unit for Apple’s iPhones near Bengaluru’s international airport by April next year.

5G market share gains in India. Reported sales increased by 74% on-year. Ericsson flagged risks of being unable to supply equipment due to throttling of supplies of key ASIC and FPGA components, printed circuit boards, standard electronics or semiconductors (including foundry node availability) from very few suppliers, due to various reasons including natural disasters, conflicts or other potentially disruptive events.

Ahmedabad (Gujarat) [India], July 14: Shivalik Group, a prominent real estate developer based in Ahmedabad, has partnered with Stanley Furniture, the premier fully integrated luxury furniture manufacturer in India, to introduce exquisite furniture stores in Gujarat. Shivalik Group's first Stanley Furniture store, spanning an impressive 7,500 sq ft, was inaugurated on Sindhu Bhavan Road in Ahmedabad on Friday, July 7. The store showcases an extensive collection of top-tier sofas, wardrobes, beds, mattresses, cabinets, and more, offering buyers a comprehensive range of high-end home furniture and complete home solutions.

The Economic Times and CapGrid organised a roundtable and spoke to industry leaders to ideate on the future of automotive supply chain. Here are some key issues that were raised:Complexity: If there is one characteristic of automobile supply chains industry can do without, it is its complex nature. Manufacturing of trucks, cars and two-wheelers are increasingly dependent on a global supply chain, which can potentially be disrupted at the slightest impact.

Foxconn, for its mobile devices manufacturing unit near here is in «final stages». «Foxconn is coming up in about 300 acres. The process relating to handing over land is in the final stages.

New Delhi: India’s office real estate sector saw record institutional investments of $1.8 billion in second quarter of 2023, the highest for the past 10 quarters, according to Colliers’ data. The investment marks a 2.5 times year-on-year increase for H1 2023, bringing the total to $2.7 billion.Making up a substantial 74% of investment inflows for H1 2023, the office sector outstripped the residential sector, which attracted just 12%.

offer for sale (OFS), with up to 19.63 million shares being sold by the promoters, promoter group, and other selling shareholders. The offer for sale includes shares being sold by Kamal Khushlani, Poonam Khushlani, Sonakshi Khushlani, Andrew Khushlani, Concept Communications Ltd, Bela Properties Private Ltd, Jay Milan Mehta, and Sagar Milan Mehta.

Customs Commissioner Aarti Saxena of Lucknow informed reporters that six officials stationed in the border area have been summoned to headquarters pending further investigation. The seized consignment, valued at approximately Rs 4.8 lakhs, was originally handed over to Customs officials for proper disposal, as per regulations that dictate perishable items should be destroyed within 24 hours.

stocks reached new 52-week highs. Companies like Birlasoft and Can Fin Home showcased their market strength and growth potential, while others such as CCL Products, Esab India, Exide Industries, Great Eastern Shipping, Glenmark Pharma, JBM Auto, and KEC International also achieved notable milestones. The data was sourced from BSE at 1:40 pm, and the updates from the real-time data could come with a lag.

TATE 2.0 has become the latest new meme token to post ridiculous gains this year, with the coin gaining by more than 32,000% in the past 24 hours.

Citroen C3 achieved 12.21 points in adult occupant protection, 5.93 points in child occupant protection, 23.88 points in pedestrian and vulnerable road users protection, and 15 points in safety assist systems.  However, it remains uncertain whether the Indian and Brazilian versions of the C3 are identical, as the manufacturer has yet to confirm this information. As per the report from media publication, the tested vehicle was equipped with various safety features including Electronic Stability Control, dual front airbags, seatbelt load limiters, ISOFIX child-seat mounts, and seat belt reminders. In the Indian market, the C3 model comes with a set of standard safety features such as dual airbags, Anti-lock Braking System with Electronic Brake Distribution, rear parking sensors, rear door child locks, an engine immobilizer, and a high-speed alert system.

IPO Subscription Status: Service Care IPO opened for public subscription on Friday, July 14. The initial public offering (IPO) of the workspace administration services provider has seen decent response from the Qualified Institutional Buyers (QIBs). As per the latest subscription status, Service Care IPO has been subscribed 38% so far on July 14, the first day of the bidding process.