India's manufacturing sector growth climbs to four-month high in Jan on sharper upturn in new orders
New Delhi, Feb 1 (PTI) India’s manufacturing sector growth climbed to a four-month high in January as a sharper upturn in new orders boosted output growth amid mild cost inflation, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) recovered from an 18-month low of 54.9 in December […] Key Points
ThePrintGovt to come up with 65 quality control orders to stop imports of sub-standard goods
Government will soon issue 65 quality control orders (QCOs) which will cover over 500 products to contain imports of sub-standard goods and boost domestic manufacturing. Under these orders, items cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. Violation of the law can attract a penalty of up to two years of imprisonment or a fine of at least Rs 2 lakh for the first offence, which increases to Rs 5 lakh minimum for the second and subsequent offences. Key Points
Economic TimesQuick-commerce, food-delivery firms register massive order surge on New Year's Eve
Food delivery and quick commerce platforms like Zomato, Blinkit, and Swiggy Food and Instamart witnessed an unprecedented surge in orders on New Year's Eve, according to senior industry executives. The top executives took to microblogging site X (formerly Twitter) to share updates on the order trends for the evening. Key Points
Economic TimesBEL’s FY24 margin guidance of 21-23% is intact; exceeded sales guidance: Bhanu Prakash Srivastava
“Challenges are there, supply chain challenges. Semiconductor continues to be a challenge. Though there was easing up, there are devices where OEMs are putting long delivery times. Similarly, the impact of the Israel war is still there. So, we are working out to mitigate these challenges.Exports, whatever we committed this financial year around $90 million, we will be able to achieve.” Key Points
Economic TimesMastek MD on what’s driving IT resurgence & why AI’s not bad for all IT cos
“All the IT companies really have booked a large number of orders over even the last two or three quarters. Although the performance on the revenue was not high, the order booking performance was quite good and some of that will now get translated into the revenues in the coming quarters.” Key Points
Economic Times
Pedalling towards ambition: ITI student who delivers Swiggy orders aims for IAS
Sourav Bhardwaj cycles for around 40 km daily while delivering Swiggy orders from 4 pm to 11 pm. His aim is to become an IAS officer. | Trending Key Points
Hindustan TimesGovt to come up with 60 quality control orders this year to stop imports of sub-standard goods
Violation of the law can attract a penalty of up to two years of imprisonment or with fine of at least Rs 2 lakh for the first offence which increases to Rs 5 lakh minimum for the second and subsequent offences. These orders are issued by the department in consonance with the WTO (World Trade Organization) Agreement on Technical Barriers to Trade (TBT) for industries falling under its domain. Key Points
Economic TimesTalbros Automotive Components secures multi-year orders worth ₹400 crores, including significant EV orders
Talbros Automotive Components has secured multi-year orders worth Rs. 400 crores from local and foreign customers for gaskets, heat shields, forgings, and chassis. Key Points
mintHC junks Twitter’s plea on takedowns
The Karnataka high court has dismissed a petition filed by Twitter challenging content and account takedown orders issued by the Indian government. The court also fined Twitter ?50 lakh ($67,000) for failing to act on time. This decision holds significant implications for the government's powers to order online content to be made inaccessible. It is the first time a social media company has been fined in this manner. The judge ruled that blocking orders are "reasoned decisions" and that there was "wilful non-compliance" by Twitter. | Latest News India Key Points
Hindustan TimesS&P Global PMI signals Indian manufacturing hit a four-month peak in April
For India’s manufacturing sector, new orders and production levels recorded their strongest growth so far in 2023 during April as per the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI), which rose to 57.2 from 56.4 in March. Key Points
The Hindu
India's manufacturing PMI at 4-month high in April on output & new orders' growth
India's factory activity expanded at its quickest pace in four months in April, driven by solid growth in new orders and output, a private survey showed on Monday, signaling resilient demand and an encouraging outlook. The survey results suggest India will continue to be one of the fastest-growing major economies despite slowing global growth that has undermined momentum across several other countries. Key Points
Economic TimesL&T power distribution business secures orders worth Rs 1,000-2,500 cr
New Delhi [India], April 25 (ANI): The power transmission and distribution business of Larsen and Toubro (L&T) Construction has secured “significant” orders in India and overseas. According to a company statement, a significant project means those costing between Rs 1,000 crore and Rs 2,500 crore. It has secured orders to develop distribution infrastructure in two […] Key Points
ThePrintAirbus books record India orders, confirms higher deliveries
Record demand from India sharply increased Airbus (AIR.PA) orders in June to leave the European planemaker with 1,044 net orders in the first half of the year, data showed on Friday. Key Points
ReutersJune factory activity eases, but confidence up
The increase in new orders was the fastest since February 2021, owing to favourable demand conditions. The 400 respondents to the survey also indicated that advertising and new product releases were also a factor in rising new orders. The continuing uptick in manufacturing activity also lifted growth prospects. The index has averaged 57.9 in the first quarter of FY24. Key Points
Economic TimesBharat Electronics at all-time high on fresh orders; shares up 82% in 2023
New Delhi [India], December 26 (ANI): Shares of state-owned defence and aerospace company Bharat Electronics hit an all-time high on Tuesday, after a series of orders the firm received over the past week. At the time of filing this report, the shares were 4.5 per cent higher at Rs 182.7, against its all-time high of […] Key Points
ThePrint
L&T receives orders worth ₹1,000 to ₹2,500 crore for power business
The company won orders worth nearly Rs. 2,30,000 crore during FY23 and has provided an order intake guidance of 10-12% for FY24. L&T is a $23 billion firm that operates in more than 50 countries and is involved in EPC projects, high-tech manufacturing, and services. Key Points
mintFarmers protest: X complies with Indian government's order to suspend accounts but says We disagree...
As per the official Global Government Affairs account of X, the platform is acting under potential threat of significant fines and imprisonment. However, in a move to challenge the governments demands, X has filed a writ appeal, which is currently pending. Key Points
Economic TimesConsumer goods orders swell as brands bet big on festive season
Most companies undertake their festive season stock planning in May-June and place orders so that production can commence in June. I feel in the forthcoming quarters...in a month or two, things are going to look up significantly, said Atul Lall, managing director of Dixon Technologies India, one of the largest electronic products contract manufacturers. Key Points
Economic TimesWe can consider share buybacks once every few years: R Shankar Raman, CFO, L&T
We have surpluses beyond our requirements, not for all times to come, but at least for some time to come. Given that, we thought that it is a good way to create value back to shareholders. One way to create value for shareholders is to keep distributing dividends. So we decided not to interrupt with that but to go for a buyback. Key Points
Economic TimesOnline deliveries in deep water after heavy rains as monsoon lashes northern India
Heavy rains in urban areas, including Delhi and the National Capital Region, have severely affected online deliveries. The flooding of roads and the overwhelmed drainage system caused delivery services such as Swiggy, Zomato, Zepto, and Milk Basket to stop accepting orders. Many consumers, especially those in need of daily essentials, food, and medicine during the pandemic feel cut off. Restaurants are also facing severe disruption, with kitchen operations, supplies, and dine-ins being hampered as well. Key Points
Economic Times
Manufacturing activity rises to four month high of 56.5 in January
HSBC India Manufacturing Purchasing Managers' Index rose to a four-month high of 56.5 in January, recovering from the previous month's 18-month low of 54.9. The rise in production was driven by robust domestic demand, with current output expanding and domestic orders growing faster than export orders. Key Points
Economic TimesBharat Electronics bags orders worth Rs 848 crore
International Business News: Bharat Electronics Ltd (BEL) secured orders totaling Rs 847.84 crore, including a significant project from the ministry of finance worth Rs 665.84 cro Key Points
Times Of IndiaCisco slumps after cutting annual profit, revenue forecasts
Cisco (CSCO.O) tumbled 11% on Thursday after cuts to its annual forecasts raised fears that excess inventory with customers was sapping new orders in its mainstay networking equipment business. Key Points
ReutersZerodha demat account holders hit with another technical glitch
Due to an intermittent issue, some of our users are not able to see executed orders in the orderbook. However, the executed orders are updated on the positions page. The holdings and funds page is also not loading. We're working on fixing this and regret the inconvenience caused, Zerodha said in a note to clients. Key Points
Economic TimesIndia’s manufacturing sector activity falls to 8-month low in Oct on softer rise in new orders: PMI
The seasonally adjusted S&P Global India Manufacturing Purchasing Manager’s Index (PMI) slipped from 57.5 in September to 55.5 in October, the slowest rate of expansion since February. Manufacturing activities in India decelerated in October as new orders increased at the slowest pace in a year, triggering a softer rise in output and employment, a monthly survey said on Wednesday. Key Points
The Tribune India
India's manufacturing PMI hits 31-month high, as factory orders surge on robust demand conditions
Manufacturing sector in India continues to grow from strength to strength as data showed that factory output expanded at the quickest pace in the last 31 months on strong demand and output. The Manufacturing Purchasing Managers' Index, compiled by S&P Global, rose to over a 2-1/2 year high of 58.7 in May from April's 57.2. Key Points
Economic TimesElon Musk's X claims 'executive orders' from Centre to withhold accounts, posts
Elon Musk's X has claimed it got government orders to withhold specific accounts and posts. However, it said such posts should not be withheld on the grounds of freedom of expression. The government has not reacted to X's claims yet. Key Points
India TodayManufacturing activity slows to 57.5 in September; sentiment improves
India's manufacturing activity slowed down in September, with the Purchasing Managers' Index falling to its lowest level in five months. The decline was primarily due to a softer increase in new orders, although export orders remained strong. Despite this, firms in the sector remain optimistic and expect output levels to increase in the next twelve months. Key Points
Economic TimesSebi sends notice to NSE on alleged misuse of trading software
The Securities and Exchange Board of India (SEBI) has issued a show-cause notice to the National Stock Exchange (NSE) regarding allegations that certain high-frequency traders manipulated its software to execute many orders undetected and displace other users from the system. The TAP software scandal was detected in 2013, but the authority caught up to it during an investigation into the co-location scam by income tax authorities four years later, leading to SEBI's recent intervention. Key Points
Economic TimesSAT may have to hear afresh many important cases
The Supreme Court, headed by Chief Justice DY Chandrachud, disposed of a petition filed by SAT advocates and noted that the government is taking steps for fresh appointments. Lawyers believe that the continued pendency of appeals in SAT creates legal uncertainty and does not present a healthy image internationally. Key Points
Economic Times
Bharat Electronics shares jump over 7% in intraday trade. Here’s why
Bharat Electronics Limited shares jumped sharply on Friday after the company announced recent orders received from the defense ministry. Here is all you need to know. Key Points
India TodayIndia's March manufacturing PMI rises to 16-year high as output and orders jump to highest since October 2
India's manufacturing sector ended FY24 with remarkable performance, as reflected in the HSBC India Manufacturing PMI hitting a 16-year high of 59.1 in March. Strong output and new orders prompted increased hiring, yet concerns over inflation caused overall sentiment to dip to a four-month low, despite optimism in certain areas. Key Points
Economic TimesVolatility is temporary, fundamental tailwinds are permanent: 6 stocks from engineering sector with an ups
If one looks at how one sector after another has been recovering, engineering which overlaps in some part with capital goods has been one of the last ones to see a recovery in real business sense. It is only in the last few months that one would these companies announce that either they have got orders or any other sort of other contracts. If one looks at the orders or contract wins, a number of them are showing quarter on quarter increase for almost the three quarters. There is a reason why these companies were last on the list to show revival. Only when the user industry which in this case ranges from chemical, and sugar railways to literally everyone else involved in manufacturing and utilities embarks upon a capacity expansion only then these engineering cum capital good companies would get orders and show an improvement. In the first phase of economic recovery, it was more of repairing both balance sheets and policy framework that took place. It is only recently that we have seen companies get confident and a new capex cycle getting started. Probably that is why some of the mid-sized players have been able to outperform even a volatile market. Key Points
Economic TimesManufacturing activity climbs to five-month high of 56.9 in February
In February, manufacturing activity in India reached a five-month high due to increased new export orders and sustained domestic demand. The HSBC India Manufacturing Purchasing Managers Index rose to 56.9, with new export orders hitting a 21-month high. External demand was driven by countries like Australia, Bangladesh, Brazil, Canada, China, Europe, Indonesia, the US, and the UAE. Key Points
Economic TimesSignificant headwinds continue to prevail : RBI flags trade risks yet again
The Reserve Bank of India (RBI) has highlighted the challenges faced by Indian trade, citing a contractionary zone in PMIs for new export orders in December.The RBI also noted that retail inflation in India has gradually descended closer to the target, despite growth beating expectations. The central bank attributed India's growth to strong domestic demand. Key Points
Economic Times
PAC calls for stricter measures while undertaking railways maintenance works
The Public Accounts Committee (PAC) of India calls for strict safety measures and adherence to Joint Procedure orders (JPO) by Indian Railways, following procedural lapses during maintenance works that led to cable faults. The PAC report also highlights that the recent derailment of Coromandel Express is a reminder of the severe consequences of such incidents and requires immediate action, including investing in advanced technology. Key Points
Economic TimesDoorDash lifts core profit target for second time on rising orders
DoorDash (DASH.N) raised its annual core profit forecast for a second time and beat quarterly revenue expectations on Wednesday as orders for groceries and food surged despite higher prices, sending its shares up nearly 6% in extended trading. Key Points
ReutersIndia’s manufacturing PMI hits 4-month high in April on new orders, favourable market conditions
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) increased from 56.4 in March to 57.2 in April, indicating the fastest improvement in the health of the sector so far this year. Key Points
Financialexpress