Manufacturing Financial News

Anand Rathi, Chairman of Anand Rathi Group believes the markets are evenly poised on the valuations front. He does not see any risks to corporate earnings right now and expects earnings growth in the high teens for the next two years.

Tata Motors, India's leading commercial vehicle ma... moreTata Motors, India's leading commercial vehicle manufacturer, is intensifying efforts to regain lost market share by prioritizing profitability and strengthening its position in the pick-up truck segment.

Behind the deadly front lines where Ukrainian and Russian soldiers are locked in combat, a less-noticed life-or-death battle is raging to keep troops supplied with arms and ammunition. The side that loses that fight is the one that will lose the war. It is a lesson Washington is relearning.

TSMC, the world's largest contract chipmaker, said on Thursday it does not expect any direct impact on its production from China's decision to restrict exports of two metals widely used in semiconductors and electric vehicles. In a move that a top Chinese trade advisor warned was «just a start,» Beijing said on Monday it would limit exports of products made from the minor metals of gallium and germanium to protect national security.

₹104 per share, 19.5 percent higher than the issue price of ₹87 on the NSE SME exchange. The company set the price band in the range of ₹82 and ₹87 per share. The subscription period for the IPO began on Friday, June 23 and ended on Tuesday, June 27.

President Joe Biden is heading to South Carolina to make the case that his economic agenda is helping keep even red states humming

This 50-acre plot in Oradea, Romania, close to the border with Hungary, beat out scores of other sites in Europe to become the home of Nokian Tyres’ new 650 million-euro ($706 million) factory. Like an industrial-minded Goldilocks, the Finnish tire company had searched for the just-right combination of real estate, transport links, labor supply and pro-business environment. Yet the make-or-break feature that every host country had to have would not have even appeared on the radar a few years ago: membership in both the European Union and the North Atlantic Treaty Organisation.

Endefo, an electronics brand under the Ashtel Group of Companies, is looking to amplify its footprint beyond southern India to capture all corners of the country and eventually be a strong player in the government’s Make in India initiative. Aneef Tas, CEO of Endefo, told ET Online’s Gourab Das in an exclusive interaction that the company’s planned Rs 200 crore investment in India will go into ramping up R&D and product development in the country now, as it seeks to not only manufacture everything here for local consumption but also export products to the world. Tas also sheds light on product launches, pricing and marketing strategies.

Hindustan Times report cited that Bonne will engage in intense discussions with National Security Advisor Ajit Doval. Additionally, he is expected to meet with Prime Minister Narendra Modi before departing for France later that evening.  This series of meetings will lay the foundation for the bilateral talks between PM Modi and President Macron on July 13, as well as the grand celebration on Bastille Day, July 14.

“Most retail direct investors have missed the rally from April 2023 till date. And hence must avoid FOMO,” says Jiten Parmar, Co-Founder, of Aurum Capital. In an interview with ETMarkets, Parmar said: “Invest with a margin of safety and only in companies which have valuations on our side and where Corporate Governance is good” Edited excerpts:We are seeing some nervousness as we hit fresh record highs on the Sensex and record closing high for the Nifty. What is causing the nervousness? We have hit new highs.

MUMBAI — Even after 18 months of correction phase, Indian markets remain highly valued compared to other markets globally. However, there are a few pockets that offer value to investors, believes Siddhartha Bhaiya, managing director and fund manager, Aequitas Investment Consultancy. “There are certain sectors that have just experienced an inflexion point after a long period of headwinds where growth may continue going forward.

Samsung Electronics' June-quarter profit is expected to plunge 96% year-on-year to the lowest for any quarter in more than 14 years, as a chip glut continues to drive large losses in the tech giant's cash cow business despite a supply cut. Operating profit for the world's biggest maker of memory chips, smartphones and TVs likely fell to 555 billion won ($427 million) in the April-June quarter, according to a Refinitiv SmartEstimate from 27 analysts, weighted toward those who are more consistently accurate.

India’s economic ambitions, with industries from manufacturing to pharmaceuticals becoming more vulnerable as they digitize operations, according to a Google subsidiary. Attacks have spiked significantly in the past six months, said Amit Pradhan, India consulting leader for the cybersecurity firm Mandiant, which is owned by Alphabet Inc.’s Google Cloud. A breach at Suzuki Motorcycle India forced the company to halt production in May, and India’s largest drugmaker said in March a ransomware attack will have an impact on revenue.

backdoor entry to invest in the steel sector. HEG does not directly manufacture or trade steel, but it manufactures furnaces in which steel is manufactured. Hence, its performance is directly linked with the performance of the entire steel sector.

Joe Biden will announce a $60 million investment from Enphase Energy Inc, a manufacturer of solar-energy equipment when he travels Thursday to South Carolina, according to a report published by Bloomberg.  With this move, around 1,800 new jobs will be created across the United States including 600 in South California between Enphase and its partner multinational manufacturing giant Flex Ltd, the White House said in an official statement.  Enphase aims to open up six new manufacturing lines, bolstering clean-energy supply chains and helping power as many as one million homes per year with solar energy, Bloomberg reported.  The manufacturer's visit to South California comes as the US President is heightening his reelection campaign with a series of events to champion his administration’s accomplishments — in particular his economic agenda, which the White House has taken to calling Bidenomics.  He has been highlighting his efforts to create manufacturing jobs in the US as a centerpiece of his efforts, boosted in part by legislation he signed into law including the $370 billion Inflation Reduction Act and the $52 billion CHIPS and Science Act. Joe Biden argued that those laws will bring deep and lasting changes to the American economy, yet despite a boom in factory construction, many of those facilities won’t come online for years, a challenge for a president whose economic record will be central to his reelection prospects.

Europe's Ariane 5 rocket on Wednesday blasted off from French Guiana for the final time, carrying two military communications satellites and leaving its nations with a vacuum in autonomous access to space for the first time in more than four decades. The 53-metre-tall, three-stage launcher left the launchpad in the French spaceport of Kourou on its 117th and final mission at 7 p.m.

Google has confirmed that it is utilizing scraped web data to train its artificial intelligence (AI) systems, according to an update to its privacy policy. The search giant stated that its AI services, including Bard and Cloud AI, may be trained using publicly available data obtained from the web. Google spokesperson Christa Muldoon emphasized that the company incorporates privacy principles and safeguards into the development of its AI technologies, in line with its AI Principles.

China’s currency has weakened too far and too fast for its central bank. The onshore yuan, also called the renminbi, has lost around 4.8% of its value since the start of the year, according to FactSet. A dollar on Wednesday bought 7.2432 yuan in mainland China, a rate that is heading toward a 15-year low set last November.

PMI Business Activity Index to 58.5 in June, compared with 61.2 in May. This is the second month of decline after services PMI had scaled a 13-year high of 62 in April. A value of over 50 denotes expansion. Despite the easing, growth prospects strengthened as firms expected demand conditions to improve. “Demand for Indian services continued to surge higher in June, with all four monitored subsectors registering quicker increases in new business inflows,” said Pollyanna De Lima, economics associate director at S&P Global Market Intelligence. The 400 service firms highlighted healthy demand and marketing initiatives as major contributors for the uptick in new business. The better outlook bodes well for the economy, as manufacturing is expected to ease owing to the global slowdown.

Maruti Suzuki, Tata Motors, Hyundai Motor India and Hero MotoCorp rise, these companies are rewarding their employees with salary increases averaging more than 10%. «With the excellent efforts of employees, Maruti Suzuki has performed well in FY23,» said Rajesh Uppal, member executive board, HR, Maruti Suzuki, which recorded the highest-ever turnover of ₹1 lakh crore. «Our sales of 19.66 lakh units were the highest ever… the company recognises the efforts of employees and shares the fruit of their good work with them,» Uppal told ET.

Nifty finished close to the 19,400 mark. Gains were capped by weak global cues and moderate Service PMI data. Global investors' risk appetite was weakened by uncertainty around the upcoming release of FOMC minutes.