Manufacturing Financial News

12.07 / 12:51

UPS Digital Manufacturing Platform Continental TCS TCS Q1FY24 earnings: Six key highlights from the IT major's June-quarter scorecard

₹11,074 crore in Q1FY24 which was up 16.8 per cent YoY while the company's revenue for the quarter stood at ₹59,381 crore, rising 12.6 per cent YoY. The company's revenue growth in constant currency terms rose 7 per cent YoY. The operating margin during the quarter under review expanded modestly by 0.10 per cent YoY to 23.2 per cent.

12.07 / 12:51

COST Manufacturing Mobile Icra expects domestic tyre demand to grow 6-8% in FY24

Icra Ltd on Wednesday said it maintains its year-on-year (YoY) growth forecast for domestic tyre demand for the current financial year (FY24) at 6-8%. This projection, it said, is supported by favourable demand from original equipment manufacturers (OEM) and an expected revival in the replacements market .

12.07 / 11:55

COST Provident Manufacturing stake dutch Greenhouse builder Apex sells minority stake to Dutch player

Apex Greenhouses, the largest builder of commercial greenhouses in Australia and New Zealand, has agreed to sell a minority stake in the business to Dutch aggregator GreenV BV to strengthen its ability to compete against bigger players.

12.07 / 11:41

UPS Reuters Manufacturing India's Vedanta to enter the chip market this year after Foxconn split

BENGALURU (Reuters) -India's Vedanta (NYSE:VEDL) will enter the market for the manufacturing of chips and displays this year, group chairman Anil Agarwal said on Wednesday, days after its joint-venture partner Foxconn pulled out of the $19.5 billion chipmaking project.

12.07 / 11:05

COST Manufacturing Vehicle loans outstanding rise 22 pc in May despite high interest rates

RBI data, the total vehicle loan outstanding climbed from Rs 3.65 lakh crore in May 2021 to Rs 4.16 lakh crore in May 2022, and further to Rs 5.09 lakh crore as of May 19, 2023. The annual rise in loan outstanding was only 14 per cent in May 2022.

12.07 / 10:35

UPS Manufacturing Gap Mobile HON Vedanta has lined up partners for semiconductor venture: Chairman Anil Agarwal

India's Vedanta has lined up partners for its semiconductor manufacturing venture in the country, group chairman Anil Agarwal said on Wednesday, days after its joint-venture partner Foxconn pulled out of the chipmaking project. Foxconn withdrew from a $19.5 billion semiconductor joint venture with the metals-to-oil conglomerate earlier this week.

12.07 / 10:29

Manufacturing Enterprise Future Reliance Retail among prospective buyers for Future Enterprises

Three companies, including Reliance Retail Ventures Ltd (RRVL), have been selected as ” prospective” buyers for Future Enterprises, which is currently undergoing the Corporate Insolvency Resolution Process. The resolution professional of Future Enterprises Ltd (FEL) has finalised a provisional list of three Prospective Resolution Applicants (PRA), an exchange filing from the debt-ridden company said.

12.07 / 10:29

UPS Manufacturing Strategy Align NIFTY Problem of plenty for funds as smallcap kitty swells

Record inflows into smallcap funds in the past few months may create a problem of plenty for fund houses as deploying the amount in the right stocks at the right price is likely to become increasingly difficult.

12.07 / 09:41

Provident Booking Manufacturing CEO Metro Power Q4 Sterlite Power got orders worth ₹1,400 crore in Q4 FY23

₹1,400 crore from domestic and international customers in the March ended quarter. The orders were received by its solutions business that caters to products and specialized EPC (engineering, procurement and construction), the company said in a statement. The set of orders, won across domestic and international markets, strengthened the company’s solutions business unit’s order book to ₹5,200 crore during FY23, it added.

12.07 / 08:33

Provident Manufacturing Enterprise Nike Canadian watchdog probes Nike, Gold Mining company over allegations of Uighur forced labour

The Canadian human rights watchdog is conducting a probe into the subsidiary of a prominent global sportswear company, Nike, as well as a gold mining company. As per media reports, the investigation stems from claims that either their supply chains or operations in China are involved in utilizing or profiting from the forced labour of Uighur individuals.

12.07 / 08:33

COST UPS Provident Manufacturing A new world order seeks to prioritise security and climate change

Climate change was a distant threat. Allowing countries like China or Russia into the global economy was widely seen to be beneficial for both them and their Western trading partners. As the two countries grew they would surely adopt market economics and, ultimately, democracy.

12.07 / 08:33

Ripple Manufacturing HSBC NIFTY CAD Global recession fears: What sets India's economy apart from the rest?

Indian equities have been upbeat as foreign institutional investors have remained net buyers of local shares since March. The Indian economy seems relatively better placed than peers amid fears of a global recession and more interest rate hikes by central banks of developed economies. A series of high-frequency indicators, such as manufacturing data, capex from state and central governments, and tax receipts, both direct and indirect, have seen an uptick recently. These all bolster the health and promise of India's economic landscape, but what makes it outperform other Asian markets? “We believe there is a key driver at the heart of this exuberance - lower commodity prices.

12.07 / 08:33

Lowe's Progressive Manufacturing Toyota Hyundai Utility Passenger vehicle sales rise 2% YoY in June 24, on the back of demand for utility vehicles

Hyundai Motor India Ltd increased its UV production to 91,206 in Q1Fy24 from 81,100 in Q1FY23. Kia Motors witnessed a fall in its production to 80,272 units in Q1FY24 from 84,161 units in Q1FY23. Mahindra & Mahindra witnessed a significant rise in UV production to 98,145 units in April-June quarter against 74,298 in the same period.

12.07 / 08:33

Provident Target Cooper Manufacturing Platform Orange Bubble in defence and drone stocks?

a heat map for defence stocks. So, are defence stocks in Indiacurrently overvalued? To understand this, let's take a look at Israel. When the state of Israel was founded, the country desperately needed trading partners.

12.07 / 08:27

Provident Manufacturing 7 stocks crossed 100 SMA: Indiamart Intermesh, and more shine with impressive performance

Indiamart Intermesh, Hikal, Aptus Value Housing Finance India, Finolex Cables, Ipca Laboratories, Aditya Birla Fashion and Retail, and V-Mart Retail demonstrated impressive growth by crossing their 100 SMA. Let's explore the performance of Indiamart Intermesh, Hikal, Aptus Value Housing Finance India, Finolex Cables, Ipca Laboratories, Aditya Birla Fashion and Retail, and V-Mart Retail. (Data Source: StockEdge)1. Indiamart IntermeshIndiamart Intermesh is India's leading online marketplace, connecting buyers with suppliers.

12.07 / 08:15

UPS Target MET Manufacturing Toyota Browser net zero Threat Net zero targets under threat unless mining is stepped up, warns IEA

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12.07 / 06:05

UPS Target Manufacturing Mobile Remark Tesla Future Green technology and the future of the automotive industry

automotive industry. From production to disposal, the industry's contribution to climate change and CO2 emissions remains a pressing concern. Undoubtedly, moving towards a greener, more ecological solution presents an ideal business move for automobile manufacturers, offering significant potential to drive a more sustainable future. Resultantly, companies are actively seeking to launch their electric vehicle in the market. Recent statistics highlight the transformative impact of green energy on the automotive industry, with electric vehicle (EV) sales witnessing remarkable growth.

12.07 / 05:25

Citi FIVE Manufacturing CEO Strategy Metro Sony Shark Tank India sees over ₹100 crore investments in the deals so far: Redseer

reality show, that first aired in 2021 on Sony Television has witnessed more than ₹100 crore of investment in the deals, including seasons 1 and 2. Redseer Strategy Consultant's latest report mentioned that 27 startups successfully secured funds from external investors with a current valuation of 2.5X that of Shark Tank season 1 valuation. "Most startups that appeared on the show secured deals 6 times greater in value from outside investors within a span of 1.5 years.

12.07 / 05:25

Provident Target Manufacturing Ather Energy set to launch 450S electric scooter, bringing affordable innovation with LCD instrument console: Report

electric scooter, marking the brand's comeback in the competitive price segment. Reportedly, the Ather 450S will be the manufacturer's most budget-friendly electric scooter, based on the popular 450X model but with some feature and cosmetic adjustments. According to HT Auto, the 450S will be equipped with an LCD instrument console instead of the touchscreen unit found in the flagship 450X.

12.07 / 04:59

COST MET Manufacturing Nutrien World's top fertiliser producer cuts output on 12th day of Canada port strike

fertiliser producer Nutrien Ltd cut production on Tuesday, citing the impact of a 12-day-old strike in Canada's Pacific ports whose cost has now ballooned to an estimated C$6 billion ($4.5 billion). Some 7,500 dock workers represented by the International Longshore and Warehouse Union (ILWU) walked off on July 1 after failing to agree a new wage deal with the British Columbia Maritime Employers Association (BCMEA).

12.07 / 04:35

Lowe's Manufacturing Apple NVIDIA Taiwan chip exports plunge 21% as device makers clear inventory

Taiwan’s exports of integrated circuit chips dropped for a sixth consecutive month in June on slowing global demand. Exports decreased 20.8% from a year earlier to a four-month low of $12.6 billion, according to data from Taiwan’s Ministry of Finance.

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