IT INDUSTRY PRODUCTIVITY
Rs 417.9-crore block deals in Godrej companies
Three trusts belonging to the Godrej Enterprises Group (GEG) - BNG Successor Trust, HNG Family Trust, and SNG Successor Trust - sold shares worth ₹101.84 crore, ₹136.7 crore, and ₹179.35 crore, respectively.
5 stock market myths in a raging bull market: Kotak Equities
Despite the ongoing bullish trend on D-Street with frequent new highs, Kotak Institutional Equities has cautioned investors by debunking five prevalent market myths in a recent note. Among these myths are beliefs that Indian markets are currently trading at reasonable valuations and that robust GDP growth guarantees high returns.
HDFC Bank leads financial sector rally, powering D-Street to all-time highs
The 30-stock S&P BSE Sensex reached a record high of 80,074.3 before closing the session at 79,987, up by 545 points or 0.69%. Meanwhile, the broader Nifty hit a peak of 24,309.15 before ending the day at 24,287, gaining 163 points or 0.67%.
Hindustan Zinc sees exponential growth in demand for silver going ahead
Hindustan Zinc projects a substantial increase in silver demand, targeting higher production levels this year. The company's focus on maximizing silver output aligns with the soaring demand and prices, driven by industrial applications, precious metal usage, and the solar RE transition.
Industry Season 3: Check out cast, teaser, plot, characters, premiere date, where to watch, production and creative team
HBO releases the "Industry" Season 3 teaser. The season features Kit Harington as a green tech leader. The plot revolves around ethical investing and the IPO of Lumi. Harper returns to finance with a new partner. The season premieres on August 11 on HBO and Max.
Adi-Nadir group buys out 12.5% in Godrej Industries from Rishad Naoroji
The Godrej family announced a settlement—according to which the Adi-Nadir and Jamshyd-Smita families would buy out each other’s stakes for zero consideration in each other’s companies. While the Adi and Nadir Godrej faction now known as Godrej Industries Group (GIG) controls Godrej Industries , Godrej Properties and Godrej Consumer Products, the Jamshyd Godrej family now Godrej Enterprises Group (GEG) controls unlisted Godrej and Boyce Mfg .
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Wild swings in Vashu Bhagnani stock raise eyebrows
Stock turmoil and financial rumours haunt Vashu Bhagnani Industries, as share prices plummet amid speculation of delayed salary payments and property sell-off.
Coffee waste being used as concrete for making pathways, here's what you should know
Being claimed as a 'giant leap for mankind', our everyday morning coffee's manufacturing waste is now being used as an eco-friendly building and construction material. A footpath was built using this 'coffee concrete' recently and now more avenues for its use will keep emerging.
Core infra sectors grow 6.3% in May, maintain 6%-plus expansion for fourth straight month
Core infrastructure industries maintained growth above 6% for the fourth consecutive month in May, with notable increases in power generation and coal output. However, sectors like fertiliser and cement production witnessed contractions. Overall, the growth trajectory in the first two months of the fiscal year remains positive.
India imposes anti-dumping duties on three Chinese products
On hydraulic rock breakers, the duty ranged between 4.55 per cent and 162.5 per cent of CIF (cost, insurance, freight) value in US dollars. The duty was also imposed on these goods coming from Korea. These breakers are used in the construction and mining industry for carrying out demolition, excavation, mining and boulder breaking activities.
9 smallcap stocks that connect Mukul Agrawal, Vijay Kedia, Ashish Kacholia & Dolly Khanna
The smallcap stocks held by renowned investors like Mukul Agrawal, Vijay Kedia, and Dolly Khanna have displayed varying performance levels over the past year. These investments in companies such as Neuland Laboratories, Prakash Industries, and Shankara Building Products have been closely monitored for their profitability and stability.
Sebi’s diktat on IPO-bound companies gives a jolt to PE investors
Sebi is intending to advance the timing of terminating special rights, from the date of listing of IPO shares to the date of filing of updated DRHP.
Force Motors partners with EY Parthenon India for digital transformation program
Force Motors has partnered with EY Parthenon India to undertake a digital transformation programme aimed at boosting innovation and productivity across its value chain. The collaboration will focus on redesigning Force Motors' digital landscape, implementing advanced digital platforms, technologies, and solutions for customers, and enhancing its capabilities and security.
Jamshyd Godrej, sister planning family council; Crishna & daughters plan family office too
The families of Jamshyd N Godrej and Smita V Crishna are establishing a family council following a business realignment in April. The Crishna branch will also establish a family office, headed by Nyrika, who is executive director at Godrej & Boyce. The conglomerate was split into two groups, the Godrej Enterprises Group (GEG) and the Godrej Industries Group (GIG).
Beauty secrets: Inside India's booming beauty industry that relies on hundreds of contract manufacturers
Nishit Dedhia, the MD and cofounder of Kain Cosmeceuticals, is leading a tour of his cosmetics manufacturing facility in Khopoli, Maharashtra. The facility produces a variety of beauty products for the growing direct-to-consumer market in India.
Aircraft lessor DAE sees China's COMAC breaking Airbus, Boeing duopoly
Airbus and Boeing are the main suppliers of aircraft to airlines, but the European planemaker is struggling to boost production amid record orders and Boeing is under scrutiny from regulators after a mid-air panel blowout on a new plane in January.
India-US advance talks on joint production of Stryker armoured combat vehicles
India and the US are in advanced negotiations to co-produce the latest generation of Stryker armoured infantry combat vehicles (ICVs). This three-phase project includes initial purchases, joint production in India, and co-development of future versions, supporting India's "Atmanirbhar Bharat" mission. Customization for Indian terrain, high-altitude areas, and significant technology transfer are key aspects. This collaboration, promoted by the US as part of their strategic defence partnership, aims to modernize India's mechanized infantry, replacing over 2,000 outdated BMP-II vehicles. The Stryker offers advanced capabilities, enhancing India's defence industry and military readiness.
Reliance Industries wants petroleum product pipeline tariff linked to rail freight
Reliance Industries has opposed annual escalation in petroleum products pipeline tariff, preferring it to be linked to railway freight rates instead. Stakeholder meeting hosted by PNGRB saw discussions with major players like Indian Oil, Hindustan Petroleum, GAIL, and Reliance BP Mobility Ltd. Draft regulations aim to balance pipeline entities' interests and consumer protection, with differing opinions on tariff escalation rates.
Industrial production declines to a three-month low of 5% in April
India's Index of Industrial Production (IIP) slowed to 5% in April, a three-month low from 5.4% in March, according to data from the Ministry of Statistics and Programme Implementation (MoSPI). The growth rate was 4.6% in April 2023, a decrease from the previous high of 11.9% in October 2023. The three sectors with the highest growth rates in April 2024 were Mining, Manufacturing, and Electricity.
Aim to make Viksit Bharat by 2047: Commerce and industry minister Piyush Goyal
Commerce and industry minister Piyush Goyal aims to make India a Viksit Bharat by 2047, emphasizing new opportunities for youth. Goyal, who recently took charge for the second time, is focused on promoting economic growth and addressing challenges ahead.
Production and manufacturing sector emerges as top hiring industry in tier-II cities: foundit
The findings shows that tier-II cities are seeing stronger growth rates in sectors like production and manufacturing (29%), IT-software & services (17%), real estate (8%) and education (8%), where recruiters are seeking diverse talent with specialised skill sets.
Electronics cos charged up for big revenue boost, set to double revenues to $55 billion by FY2027
India's EMS industry revenues are projected to double to $55 billion by FY27, driven by local component sourcing. Apple, Samsung, Lenovo, and other global firms are set to expand operations in India.
Midcap IT companies in India poach talent from industry majors
Midcap IT companies in India are attracting more employees from larger rivals in the past two years. This trend is seen in the technology services sector amidst macroeconomic challenges and a focus on hiring deployable talent.
TBI Corn shares list at 111% premium on NSE SME platform
TBI Corn Share Price: TBI Corn IPO, which was completely a fresh equity issue of 47.8 lakh shares, received a bumper response from investors with an overall subscription of over 200 times at close. The company is a prominent player in the corn milling industry.
Pharma industry raises concerns over new Schedule M's impact on cosmetic manufacturing
The pharmaceutical industry, represented by the Federation of Pharma Enterprises (FoPE), has expressed concerns over the government's new Schedule M, which prohibits the manufacture of any product other than drugs in units licensed for drug production. FoPE argues that setting up a separate plant for cosmetic manufacturing is financially unviable for medium and small-scale enterprises. They are requesting permission to manufacture cosmetics in the area designated for topical products like creams and lotions.
Nisaba Godrej quits VIP Board over differences
Nisaba Godrej resigned as independent director from VIP Industries board due to differences in leadership accountability and succession planning, effective June 3rd, 2024. In a letter to Chairman Dilip Piramal, she praised the company but expressed diverging views. VIP Industries, a luggage category leader in India, faces challenges amidst reports of potential promoter stake sale, competition from Samsonite and Safari Industries, and declining profits despite a 10% rise in net sales last fiscal.
The unexpected boon for the otherwise boring industrial products from AI boom
Stocks in the utility space are no longer the sedate ones that are reserved for defensive investors seeking steady returns. They have now caught the fancy of momentum investors and traders. With the successful spinning of the AI story to the power and industrial stocks, they have become the most trending ones that are vying for the top spot, albeit behind tech stocks.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
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