Manufacturing Financial News

funding round, which was led by Chiratae Ventures and Qualcomm Ventures. The company says it will use the funding to expand its product portfolio, enhance its research and development capabilities, and widen its international presence.

«All these flows have really supported and whenever you have these strong flows, you also need some very strong supply of paper and the block deals from whether it is promoters or the private equity investors give you that window,» says V Jayasankar, Kotak Investment.First up, we have, of course, seen the June number for block deals being at the highest level over the last three to four years, the question is how long do you see this supply and these block deals really continuing in the market?I would say the block deals have been quite prevalent for the last 18 months, so even if you look at calendar 22, we had about $14 billion of blocks, so the last transactions that happened in the previous year where Max Healthcare sell down by KKR and CPPIB have been selling down in Kotak. We are involved in both of these transactions and the first one is about $1.5 billion in two tranches.

The S&P Global India services Purchasing Managers' Index (PMI) fell to 58.5 last month from 61.2 in May. Data on Tuesday showed that India's manufacturing PMI fell to 58.7 in June from 57.8 in May. As a result, India's composite PMI reading retreated to 59.4 in June from 61.6 in May.

Also read: Indian economy may slow down in the second half, RBI may cut rates in Q4, says Jahangir Aziz of JP Morgan Among the sectors, the professional services industry experienced the highest growth, with a doubling of headcount compared to last year. Companies have been increasingly seeking external expertise to expedite business operations and navigate global uncertainties. This trend is particularly evident in areas such as taxation, business consulting, risk advisory, deal advisory, technology services, and ESG services.

₹90.61 apiece on BSE. The stock touched intraday high of ₹92.50. “A strong gap up opening is seen followed by some volatility in initial trades, the momentum is definitely on the positive side, with the bullish gap range 86 - 88 to act as support whereas the momentum has potential to push prices towards 3 digit i.e.

" I think it is less to do with the Chinese domestic economy. Eventually, I think that has to find its own path because we need to understand it has a base of 15 to 18 trillion, depends on what estimates you take," says Anurag Singh, Managing Partner, Ansid Capital.Do tell us, as far as Chinese curbs go on these metals, on gallium and germanium, it seems like a tit-for-tat move because it came close on the heels of America deciding that it is not going to pass on advanced technology to China as easily as it did in the past. Technology that would help develop artificial intelligence for one. But as far as Chinese curbs go on these two metals, how much could it actually hurt a Chinese economy that's struggling to find its feet after the pandemic? I think it is less to do with the Chinese domestic economy.

20 SMA is a popular technical indicator used to assess recent price trends. When a stock crosses its 20 SMA, it often attracts the attention of traders and investors looking for potential opportunities. Let's delve into the stocks that crossed their 20 SMA on July 3, 2023, and provide a brief overview of these companies.

“We expect equities to be the best-performing asset class during the next three years,” says Nirav Sheth, CEO, Institutional Equities, Emkay Global Financial Services. In an interview with ETMarkets, Sheth said: “We anticipate a long cycle for Capital Goods, as Manufacturing deepens, and Infrastructure investments continue to get traction” Edited excerpts:Markets at record highs amid global and domestic headwinds. What is your take? The volatility index reflects calmness rather than the nervousness that one alludes to, with the market achieving new highs.

Pacific Equity Partners is considering a tilt at New Zealand-listed engineering business Scott Technology, which is 53 per cent owned by Brazilian meat processor JBS and has Macquarie Capital running a strategic review.

Reuters. If restrictions targeting China's high-technology sector continue then countermeasures will escalate, Wei said.  Meanwhile, according to Wall Street Journal, China set export restrictions on two minerals the US says are critical to the production of semiconductors, missile systems and solar cells, a show of force ahead of economic talks between two rivals that increasingly set trade rules to achieve technological dominance.

Ukrainian leaders lashed out at Unilever this week as a new Russian law compelled it to contribute to ongoing war efforts. The Ukraine Solidarity Project led protests against the company on Monday, placing it on a 'sponsors of war' list alongside Procter & Gamble and the French supermarket group Leroy Merlin. The developments came after it was revealed that Unilever had paid Moscow $331 million in taxes last year.

Strides Pharma Science on Monday said it has entered into a binding agreement to sell biologics Unit-3 manufacturing facility of its associate company Stelis Biopharma (SBL) to Syngene International on a slump sale basis for ₹702 crore in an all cash deal. The sale will help Strides in paring its debt.

Central Texas residents are gearing up to celebrate Independence Day with dazzling displays of fireworks. However, before igniting those fuses, it's crucial to ensure compliance with local regulations in both cities and counties. Travis County permits fireworks in its unincorporated areas, but a 5,000-foot distance from city limits must be maintained.

Supreme Court judgement regarding a company owned by the West Bengal government. The Directorate General of Goods and Services Tax Intelligence (DGGI) sent notices to at least 17 such companies in the last 45 days alone with total tax demands of over ₹1,200 crore, said people close to the development. Officials said the amount could go up further as more notices will be sent.

Effective 1 August, exporters of gallium and germanium in China will need a licence to ship these two precious metals used in the manufacture of semiconductors. Considering that China produces 60% of the world’s germanium, according to Europe’s Critical Raw Materials Alliance, and 80% of all gallium, Beijing’s move could hamper chip-making outside China.

The Manufacturing Purchasing Managers’ Index (PMI) shows India as the only large economy whose factory output is growing significantly. How are the other global economies doing, and what is driving India’s manufacturing? How credible is PMI as a measure? Mint explains. It is robust.

Edited excerpts: How did the PM’s visit push the US-India relationship forward? I think what we are seeing is a relationship which has basically moved a few steps further, broader and deeper. You can divide the visit into three broad parts. One is the ceremony like the White House welcome, the Joint Session of Congress and other events taking place.

New Delhi: Hewlett Packard Enterprise has partnered with original design equipment maker VVDN to begin manufacturing high-volume servers in India under the revised production linked incentive or PLI scheme. The US-headquartered computing technology and solutions provider will make servers worth over $1 billion over next five years from VVDN’s plant in Manesar, Haryana, the company said on Tuesday.

NEW DELHI : The SUV market in India, particularly in the popular mid-SUV category, is experiencing a surge in competitive intensity, triggering a price war, Kia India chief executive and managing director Tae Jin Park said on the sidelines of the launch of the new, mid-life facelift of its best-selling SUV Seltos. Kia is investing heavily to expand its capacity, sales network, as well as product development, in India, and is ready to take a hit on profitability to grow its market share to counter a series of launches of aggressively-priced vehicles by Japanese and Indian automakers. Kia is betting on doubling its market share from 5% to 10% within five years, and launch hybrid products in the next two years.

Also Read: Samvardhana Motherson to buy 100% stake in France-based Cirma Entreprise for 7.2 million euros ‘’The company has entered into a partnership with Honda Motor under which it will form an 81:19 strategic partnership with the latter where both partners will drive the company towards a strong and sustainable future and be fully prepared for next-generation products and technologies, said SAMIL. The acquisition requires approval from authorities in China, Brazil, United States, as well as the Reserve Bank of India, said SAMIL in the exchange filing.

NEW DELHI : Epsilon Advanced Materials (EAM), a battery material firm based in Mumbai, is planning to enter the US market with financial support from the car manufacturers it will be supplying its products to, said Vikram Handa, managing director, EAM. The company is also looking for a strategic partner and may look at tapping the equity market after 2025, he added. Elaborating on its strategy to fund a large capital expenditure plans, Handa said a firm like Epsilon enter long-term contracts with key automobile manufacturers, who fund the capex plan.