Manufacturing Financial News

Rane Brake Linings Ltd, engaged in the manufacturing of auto-components including disc pads and brake linings, has projected a sustained growth momentum in the automotive industry during the current financial year, despite minor headwinds in the form of rising interest rates, the company said. Adoption of electric vehicles is expected to accelerate in the coming years as electric vehicles become more cost competitive backed by supportive government policies, enhanced charging infrastructure, and consumer willingness to move towards clean and sustainable mobility solutions, Rane Brake Linings noted.

Israel has approved the purchase of a third squadron of F-35 stealth fighter jets in a deal worth $3 billion, the Ministry of Defense said on Sunday. The additional 25 aircraft manufactured by Lockheed Martin will bring the number of F-35s in Israel's air force to 75, the ministry said, adding that the deal will be financed through the defense aid package Israel receives from the United States.

commerce ministry has called a meeting of exporters on Monday to take stock of the situation, as the country's outbound shipments have been contracting for the last four months, an official said. Exporters are expected to flag issues like extending greater support to participate in global exhibitions and fairs; expediting negotiations to conclude free trade agreements with the UK, Canada, Israel and GCC (Gulf Cooperation Council); and allowing industry double weighted deduction on salary to professionals to retain talent in India.

Tata Motors, Mahindra & Mahindra, Ashok Leyland and Hero MotoCorp are accelerating the drive to employ more women in shop floors as they press hard on the pedal to enhance diversity. Once outsiders but no longer, thousands of women are now rolling out from two-wheelers to popular SUVs and heavy commercial vehicles across different factories of these companies.

diesel sales dropped in June as demand in the agri sector was cut and vehicular movement reduced. Preliminary industry data, accessed by PTI showed that demand for diesel, fell 3.7 per cent to 7.1 million tonnes in June compared to the year-ago period. Diesel, the most consumed fuel in the country, accounting for about two-fifths of the total demand, had soared 6.7 per cent and 9.3 per cent in April and May, respectively.

technology firms are looking at relocating their manufacturing bases to India to bring down their exposure to the Chinese market, top policymakers in the Taiwan government have said, amid the self-governed island's increasingly tense relations with China. Deputy Minister for Taiwan's National Development Kao Shien-Quey said there is huge scope for collaboration between New Delhi and Taipei in areas of emerging and critical technologies including manufacturing of semiconductors and electronics equipment.

Comex gold prices moved between gains and losses during the week and are poised to close relatively flat near $1,975 per troy ounce. The yellow metal declined during the first half of the week, as investors remained wary ahead of the June FOMC meeting. Despite a 1% decline in the dollar index, gold prices have not risen, as US short-term treasury yields inched higher.

PKH Ventures, Global Pet Industries, Tridhya Tech, and Synoptics Technologies have already opened for subscription and will close this week.Senco Gold The initial public offering (IPO) of Senco Gold will open for public subscription on July 4. The issue closes on July 6. The company had set the price band of Rs 301-317 per share.

The Sensex and Nifty gained nearly 3% each in the week gone by, and market experts see room for more upside in the week ahead. “If global markets support further, we may see Nifty entering the next cluster of around 19250-19500,” said Sameet Chavan, head — technical and derivatives research, Angel One. On Friday, Nifty 50 and Sensex ended at record closing highs of 19189.05 points and 64718.56 points, respectively.

S Jaishankar’s proposed trip to Tanzania next week India and Tanzania have finalised a five-year roadmap to expand bilateral defence cooperation including in areas of infrastructure building and collaboration in military equipment and technology. Both sides agreed on the roadmap at the second edition of India-Tanzania Joint Defence Cooperation Committee (JDCC) meeting that was held in Arusha (Tanzania) on June 28 and 29.

Europe comes from Saxony. The state has pulled in billions in investment, and fabrication plants, or “fabs,” for companies such as Infineon, Bosch and Globalfoundries are all based in Saxony, which is rumored to be the site of a future TSMC plant. Yet a skilled labor shortage is weighing on the sector. Over 76,000 people in Saxony are employed in the local chip industry, thanks in part to nearby clusters of research institutes, semiconductor-related companies and technical universities. By 2030, lobbyists project, this number will grow to 100,000. That, however, isn’t enough – not for Germany, nor for Europe as a whole. By that year, the European Union wants to manufacture 20% of the world’s semiconductors, up from 10%. Dresden’s efforts to train talent and attract skilled workers may offer clues as to how that could happen.

While the technology-focused Nasdaq and the Japanese Nikkei 225 have had all the attention due to their impressive rallies this year, it's important to redirect our focus towards another category of stocks that have been performing exceptionally well, particularly in recent times.

Kia India on Saturday said its domestic wholesales declined 19 per cent to 19,391 units in June. The company dispatched 24,024 units to dealers in June 2022.

Covid-19 controls, roared back to help power global growth. Instead, halfway through 2023, it’s facing a confluence of problems: Sluggish consumer spending, a crisis-ridden property market, flagging exports, record youth unemployment and towering local government debt. The impact of these strains is starting to reverberate around the globe, impacting everything from commodity prices to equity markets.

Tesla technology in charging stations, saying it is «premature,» according to a document seen by Reuters and a source aware of the matter. Reuters reported last week that Texas would require charging companies to include both Tesla's North American Charging Standard (NACS) as well as the nationally recognized rival Combined Charging Standard (CCS) technology to be eligible for a state program to electrify highways using federal dollars.

electric vehicles, batteries, and hydrogen, the electroplating industry in the country is estimated to be at Rs 12,000 crore, a top industry official said. Homi Bhabha National Institute Vice-Chancellor U Kamachi Mudali said the electroplating industry globally was expected to grow to USD 30 billion.

Market participants keenly watched a panel discussion involving Federal Reserve Chair Powell, Bank of England Governor Bailey, ECB's President Lagarde and Bank of Japan's Governor Ueda wherein these leaders discussed the economy, interest rates and their respective outlooks. The key takeaways from their discussions and views are that except Bank of Japan, the rest of the three central bankers deem inflation to be way above their respective target levels. Inflation control is their priority and they will continue to remain hawkish to quell the inflationary pressure.

Consumer discretionary, realty, healthcare, automobiles, and capital goods sectors were the top five best-performing sectors in June. The S&P BSE Realty, Healthcare, and Capital Goods sectors have seen 9-10% upside in June. The S&P BSE Auto, Capital Goods, Bankex, and Industrials indices scaled record highs last month.

MSME sector, which contributes to 30% of India’s GDP and nearly 50% of India’s exports. As India aims to become a $5 trillion economy by 2026, it has never been more critical than now to expand support to the MSME sector, and particularly provide differentiated support for the micro-MSMEs.Institute new classification Micro-MSMEs are categorised as having less than Rs. 5 crores in turnover, however, over half of micro-MSMEs have less than Rs.

Are banks more prone to interest rate cycle or is it manufacturing business which is more vulnerable to higher interest rates. A software company with a net margin of 10 percent is probably not worth looking at but if an infrastructure and construction company has a net margin of 10 percent it is not bad at all.

Kirloskar Motor (TKM) on Saturday said its wholesales increased 19 per cent to 19,608 units in June as compared with 16,512 units in the year ago period. Domestic dispatches stood at 18,237 units while overseas shipments rose to 1,371 units last month.