Manufacturing Financial News

Vijay Kedia has added 0.39% stake in smallcap stock Patel Engineering during the June quarter. According to the latest shareholding data available with the exchanges, Kedia Securities has raised stake to 1.68% in the June quarter, up from 1.29% in the preceding March quarter. The company is majority public owned with 55.79% stake, while promoters own the remaining 39.41%.

Ease of Doing Business for MSMEs: The Indian government held discussions, on Saturday, bringing together key domestic and international players in the toy industry in India to promote and explore opportunities in the Indian toy sector, as reported by the Press Trust of India.

Relative Strength Index (RSI) and explore 10 stocks that are currently in the overbought zone, potentially signaling overvaluation. The RSI is a widely used technical analysis indicator that helps measure the strength and momentum of a stock's price movements. RSI is represented on a scale of 0 to 100 and is calculated based on the average gains and losses of a stock over a specified time period, typically 14 days.

Tata Consultancy Services (TCS), the largest software services exporter in India, will announce its earnings for the first quarter of FY24 on July 12. The company will also declare an interim dividend along with the results.

1. Praj Industries Praj Industries, a leading provider of sustainable solutions for bioenergy and high purity process systems, showcased promising growth on July 7, 2023. The stock closed at Rs 397.35, surpassing the 50 SMA of Rs 373.18.2. GTL InfrastructureGTL Infrastructure, an Indian telecommunications infrastructure provider, experienced a positive market movement on July 7, 2023.

Vedanta Ltd that was set up to produce semiconductors from India. Foxconn and Vedanta signed a pact last year to invest $19.5 billion to set up semiconductor and display production plants in the western state of Gujarat, seeking to tap into the country's plans to become an electronics major.

The gas industry says the federal government is “taking control” of the market with its new mandatory code governing all sales of the fuel on the east coast and must now act to ensure new supply is opened up to head off looming shortfalls.

Relative Strength Index (RSI) is an important technical indicator and can be useful for investors to have reliable access to assess the movement and momentum in stocks. On Friday, July 7, StockEdge reported that 39 stocks were trading with RSI trending down, catching the attention of investors and analysts. In this article, we will explore the significance of RSI and delve into 10 stocks that have witnessed a decline in their RSI, potentially offering investment opportunities.

Godrej Aerospace said on Monday it will pitch to manufacture modules of GE 414 engines and become part of the supply chain to manufacture engines that will power the country's next generation indigenous fighter jets. Under the deal announced during Prime Minister Narendra Modi's state visit to the U.S.

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Hindustan Times report cited.  While details of the defense deals remain undisclosed, it is understood that India and France will sign a defense-industrial roadmap aimed at enhancing India's manufacturing of hardware platforms through indigenous engines and technologies. Furthermore, PM Modi and French President Emmanuel Macron are set to unveil a bilateral roadmap for the Indo-Pacific, outlining specific measures to ensure maritime security and freedom of navigation in the region, which has been a subject of contention with a rising China.

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China's producer prices fell at their fastest pace in over seven years in June, while consumer prices teetered on the edge of deflation, adding to the case for policymakers to use more stimulus to revive sluggish demand. The worsening factory-gate price deflation and the move by consumer prices towards deflation for the first time since February 2021 bode ill for China's economic growth. Momentum in China's post-pandemic recovery has slowed from a brisk pickup seen in the first quarter with demand for industrial and consumer products weakening, raising concerns about the health of the world's second-largest economy. «We think the more challenging deflation environment and sharp slowdown in growth momentum support our view that the PBOC has entered a rate-cutting cycle,» said economists at Barclays in a research note. The producer price index (PPI) fell for a ninth consecutive month in June, down 5.4% from a year earlier, the National Bureau of Statistics (NBS) said on Monday, the steepest decline since December 2015. That compared with a 4.6% drop in the previous month and a 5.0% fall tipped in a Reuters poll of analysts.

Last week China announced export curbs from August on gallium and germanium in retaliation to the US barring the export of high-end microprocessors and chipmaking equipment to China. The Chinese want to make it clear that they will fight back against attempts to curb their rise as a global power. Gallium and germanium are used in semiconductors, and if their availability shrinks as the superpowers vie for supremacy, all electronic products will become more expensive.

Olectra Greentech rallied 35% in the last two trading sessions on BSE after the company won an order worth Rs 10,000 crore. Meanwhile, in Monday's trade, the company's shares surged over 14% to Rs 1,409 on BSE. «Consortium of Olectra Greentech Limited and Evey Trans Private Limited (EVEY) received a Letter of Intent (LOI) from Maharashtra State Road Transport Corporation (MSRTC) relating to Supply, Operation, and Maintenance of 5,150 Electric Buses and allied Electrical and Civil Infrastructure on Gross Cost Contract Basis,» the company said in an exchange filing on Friday.

Indian stock market bourses. Cyient DLM IPO listed on BSE at ₹401 apiece and went on to hit intraday high of ₹424.40 apiece whereas on NSE, Cyient DLM shares opened at ₹403 on NSE and went on to hit intraday high of ₹425 apiece within few minutes of share listing. After this strong listing, Cyient DLM IPO delivered around 51 per cent listing gain to its lucky allottees against the Cyient DLM IPO prie band of ₹250 to ₹265 per equity share.

Olectra Greentech Ltd, the electric bus manufacturer, rallied over 13% on Monday to touch a fresh 52-week high of ₹1,394.40 apiece on the BSE. The stock witnessed a massive surge of 18% on Friday after the company won a huge order. Olectra Greentech share price has jumped more than 40% in the last three sessions, while the stock is up more than 107% in three months, doubling investors’ wealth.

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Cyient DLM: Cyient DLM IPO will be listed on the bourses on Monday. As per the BSE notice, effective from Monday, July 10, 2023, the equity shares of Cyient DLM Limited shall be listed and admitted to dealings on BSE and NSE in the list of 'B' group of securities. According to market observers, Cyient DLM's share price is trading at a premium of ₹140 in the grey market today.

Cyient DLM IPO listing: The initial public offering (IPO) of Cyient DLM Ltd is going to hit secondary market today as Cyient DLM IPO listing date has been fixed on Monday, 10th July 2023 i.e. today. As per the information available on the official website of BSE, the equity shares of Cyient DLM Limited shall be listed and admitted to dealings on the exchange in the list of 'B' group of securities.

Harley-Davidson, which last week began its second innings in India by launching its most affordable bike to date in partnership with Hero MotoCorp, might use the facilities here to sell in other global markets, its CEO Jochen Zeitz told ET. Zeitz, on his first visit to India after taking over as Harley-Davidson CEO, said the company's immediate priority, however, is to strengthen local sales with the HD X440, the bike Harley co-created with Hero. «We were manufacturing our 750cc also for the international market (here), so I am not ruling that out,» Zeitz said, referring to India's export potential for the company.