India playing crucial role in advanced manufacturing: N Chandrasekaran
The Tata Sons chairman noted that companies are adjusting their supply chains to achieve a balance between resilience and efficiency. Additionally, Chandrasekaran emphasized the emergence of new global supply chain ecosystems, with India assuming a significant position in advanced manufacturing. Key Points
Economic TimesOil gains on possible shipping disruptions
HOUSTON (Reuters) - Oil prices rose in early U.S. trading on Monday on expectations of tighter supply and the risk of disruptions to shipping, analysts said. Brent crude futures were up 54 cents, or Key Points
ThePrintEcommerce cos step up diversity hiring for supply chain roles
Ecommerce companies like Flipkart, Meesho, and Jumbotail are fixing the gender balance in supply chain roles through various initiatives. These include creche facilities, gender-balanced sourcing, partnerships with womens campuses, and training programs. Recruitment firms have seen a surge in demand for female talent. Key Points
Economic TimesOil climbs over 2% as OPEC seen deepening cuts
International Business News: Oil prices rose over 2% on Monday in anticipation of further supply cuts by OPEC+ following their upcoming meeting. Brent crude settled at $82.32 a ba Key Points
Times Of IndiaKolkata's residential market, I&L sector supply poised to witness 5-year high in 2023
Kolkata, Nov 20 (PTI) The residential market and industrial and logistics (I&L) sector supply in Kolkata are poised to witness a 5-year high supply in 2023, real estate consultancy firm CBRE said on Monday. Officials said that the supply in the I&L sector is expected to nearly double to 5.2 million square feet in 2023, […] Key Points
ThePrint/cloudfront-us-east-2.images.arcpublishing.com/reuters/M6EFMZTRHZPJJBIVELXBZN5HNA.jpg)
Citi CEO Fraser touts 'clear benefits' of diversifying supply chains
Geopolitical tensions and macroeconomic shocks are spurring businesses and governments into reconfiguring their supply chains, and the increased focus on diversification is leading to "clear benefits", Citigroup (C.N) CEO Jane Fraser said on Thursday. Key Points
ReutersRules for co-location: CBIC clarifies on place of supply
In case of services delivered overseas from India or from outside the country, the Central Board of Indirect Taxes and Customs (CBIC) said the place of supply will be the location of the recipient, if the location is known. In case the recipient's location is not readily available in the regular course of business, the place of supply will be the service provider's location. The same principle will be applied to services provided by courier or mail. Key Points
Economic TimesAdvantage industrial recovery: 4 stocks from manufacturing sector with upside potential of up to 35%
B2B is normally associated with the digital world, but there are many companies whose products go as consumable or what is commonly called as raw material in the manufacturing sector. So for companies which are into supplying industrial consumables it is not an easy task. However there is an advantage to it also. Once the supply contract is settled, buyers also don’t disturb their relationship with suppliers. Key Points
Economic TimesUS sanctions three Chinese firms for ‘missile parts trade’ with Pakistan
The firms were identified as General Technology Limited, Beijing Luo Luo Technology Development Co. Ltd, and Changzhou Utek Composite Company Ltd. | World News Key Points
Hindustan TimesOil prices climb as investor risk appetite grows
By Yuka Obayashi TOKYO (Reuters) - Oil prices climbed on Monday, reversing some of Friday's losses, as investors focused on a tight global supply outlook and a last-minute deal that avoided a U.S. Key Points
ThePrintTVS supply Chain Solutions sells Circle Express for Rs 21 crore
New Delhi, Sep 29 (PTI) TVS supply Chain Solutions Ltd on Friday said its wholly-owned arm RICO Logistics Ltd has sold the entire stake in subsidiary Circle Express Ltd, UK, for 2.1 million pounds (about Rs 21.32 crore). The move is designed to boost the company’s profitability and sharpen its focus on core offerings to […] Key Points
ThePrintEU in talks with Moderna over new deal for COVID vaccines - FT
The European Union is in talks with Moderna (MRNA.O) over a new supply deal for the company's COVID-19 vaccines amid concerns over a rise in infections in the region, the Financial Times reported on Tuesday, citing two people familiar with the matter. Key Points
ReutersTVS supply Chain IPO: What GMP signals as process for share listing begins
TVS supply Chain IPO listing is likely to take place on August 23, Wednesday. A notice on BSE said that the shares of TVS supply Chain Solutions shall be listed in due course. Key Points
mintPlay on Industrial recovery: 4 stocks from B2B of manufacturing sector with upside potential of up to 35%
It might surprise many, for a company which intends to supply selected raw materials to a tyre company, it might take anywhere two to three years to get approvals in testing and another process before it is able to sell its product to that particular tyre maker. But then once approved, the relationship between them remains forever, until rocked by something major. Similarly, many companies which supply only to large industries have its own advantages. Key Points
Economic TimesETPWLA 2023: Announcing the nominees for the Operations Leader of the Year Award
As we await the curtain raiser to the much-anticipated ETPrime Women Leadership Awards (ETPWLA) 2023 Grand Finale, the Economic Times is thrilled to announce the final contenders for the coveted Operations Leader of the Year Award. These exceptional women leaders have established groundbreaking standards and accomplished extraordinary milestones in the realm of operational excellence and management over the past year. Key Points
Economic Times
Intel, Micron spending spree shows chip diplomacy bearing fruit
Intel Chief Executive Officer Pat Gelsinger flew to Wroclaw, Poland, to announce a new $4.6 billion chip facility in the 1,000-year-old university town, marking a record US investment in the country. Micron is close to an agreement to commit at least $1 billion toward setting up a semiconductor packaging factory in India, people familiar with the matter said. Key Points
Economic TimesProposed supply chain agreement under IPEF to help India mitigate risks of economic disruptions
The agreement would help India to reduce its dependence on China. The pact also assumes significance as the COVID outbreak had severely disrupted the global supply chain as most of the countries were dependent on China for various products, like pharma raw materials. IPEF was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23 last year in Tokyo. Key Points
Economic TimesIPEF members power ahead on supply chain agreement, three new bodies likely
The 14-nation Indo-Pacific Economic Framework for Prosperity has made significant progress in the negotiations on the proposed supply chain agreement, according to the commerce and industry ministry. The agreement seeks to improve the resilience, productivity, transparency, and security of the supply chains through collaborative activities and individual measures taken by each partner. The IPEF aims to establish three new supply chain bodies to promote and cooperate with sustainable trade and investment including the establishment of labour rights advisory boards. The IPEF member countries will prepare a final text for the proposed supply chain agreement before ratification, acceptance or approval. Key Points
Economic TimesOil flips to a loss as traders weigh US economy against supply
Oil swung to a loss as traders weighed worse-than-expected US economic data against an improving inflation outlook and supply constraints..West Texas Intermediate slumped below $72 a barrel, after rising as much as 1.3% in earlier trading Key Points
mintWill BMC lift 15% water cut after April 30?
The Brihanmumbai Municipal Corporation (BMC) is unlikely to lift the 15% water cuts in Mumbai on 30 April as planned due to repairs to a major water supply tunnel. A source said the repairs would be completed by the end of April, but it would take a week for pressure to stabilise and a month to regularise supply. The tunnel was damaged when a developer allegedly dug a borewell. | Mumbai news Key Points
Hindustan Times
Negotiations on supply chain agreement under IPEF substantially concludes: Commerce Ministry
The 14-nation bloc IPEF partners representing 40% of global GDP and trade output will establish three new supply Chain bodies to facilitate cooperation. The proposed agreement, following finalisation and domestic consultations, will be subject to signature, ratification, acceptance or approval by IPEF partners. Key Points
Economic TimesTVS supply Chain IPO: What does the latest GMP signal as focus shifts to allotment
The basis of allotment of TVS supply Chain IPO shares is expected to be finalised on August 18, Friday. The company will then initiate refunds on August 21 and credit the shares to the demat accounts of eligible investors on August 22. Key Points
mintTVS supply Chain IPO: Issue subscribed 1.03 times on day 2 ; retail portion booked over 3 times
TVS supply Chain IPO subscribed 1.03 times on day 2, with retail investors showing strong interest. Key Points
mintAfter tomatoes, humble banana may pinch your pocket; Prices cross Rs 100 in Bengaluru
The price of bananas in Bengaluru has climbed to Rs 100 per kilo due to fluctuations in demand and supply. Bengaluru is largely reliant on Tamil Nadu for much of its banana supply and a fall in availability has resulted in hike in wholesale prices.. A rise in demand is anticipated due to forthcoming religious festivals. Some farmers have suggested middlemen and traders are driving up the price. Key Points
Economic TimesThe Auto Strike Threatens a supply Chain Already Weakened by Covid
A prolonged autoworker strike would be especially painful for smaller players inside the complex auto supply chain. It could also impact thousands more workers and push up car prices. Key Points
WIRED
TVS supply Chain Solutions makes a muted debut; shares list with 5% premium at ₹207.05 apiece on NSE
On BSE, TVS supply Chain Solutions shares were listed at 4.72% premium to the issue price at ₹206.30 apiece. Key Points
mintTVS supply Chain Solutions shares list at 5% premium over IPO price
Although TVS supply Chain Solutions is a leading supply chain management company, it operates in a highly competitive industry and has reported losses in the past two years. Additionally, the valuation of the IPO was also very high, said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart. Key Points
Economic TimesCrude Oil edges up on supply worries, G7 pledge to enforce Russian price caps
Brent crude futures climbed 14 cents, or 0.2%, to $75.72 a barrel by 0018 GMT while U.S. West Texas Intermediate crude for July delivery, the more actively traded contract, was at $71.84 a barrel, up 15 cents, or 0.2%. Key Points
FinancialexpressWherehouse? Spice, dry fruit importers facing GST heat
The Goods and Services Tax (GST) authorities have issued notices to around 50 importers of spices, dry fruits, processed food, and poultry for storing products at warehouses different from the actual place of supply. They seek additional tax payments of approximately Rs 1,000 crore. Some importers have also been warned of registration cancellation. Key Points
Economic TimesOil pares gains ahead of Fed Reserve comments
By Paul Carsten LONDON (Reuters) - Oil prices pared gains after earlier climbing $1 on Monday, with questions around supply and global demand and ahead of comments from the U.S. Federal Reserve chair Key Points
ThePrint
TVS supply Chain IPO: Issue subscribed over 2 times on day 3 so far; retail investors steal the show
TVS supply Chain IPO subscribed 2.78 times on day 3 so far, receives overwhelming response from retail investors. Key Points
mintIndia to chip in after pact with US, may fill world's semiconductors gap
India and the US on Friday inked a memorandum of understanding (MoU) on semiconductor supply chain and 'innovation partnership'. This could help India realise its long-nurtured dream of becoming a hub for electronic goods. Key Points
India TodayVande Bharat sleeper trains plan hits a snag
A top executive of Russia's leading rolling stock manufacturer TMH Group told ET that the company has reached out to top Indian government officials as venture partner state-owned Rail Vikas Nigam Ltd is now pressing for a higher stake in the joint venture formed to supply the coaches. This, he said, is in violation of an irrevocable and binding agreement between the two entities. Key Points
Economic TimesOil climbs as tensions escalate in Middle East
By Florence Tan SINGAPORE (Reuters) -Oil prices climbed on Monday after a drone attack on U.S. forces in Jordan added to worries over supply disruption in the Middle East as Houthi rebels stepped up Key Points
ThePrintManipur: Blockade of vital National Highway continues, hits supplies in tribal areas
A police officer in Imphal confirmed that movement of vehicles along NH-37 with essential items have been ensured. Strict security measures have been taken in all vulnerable locations and security convoy has been provided in the sensitive stretches in order to ensure free and safe movement of vehicles, the officer said. Due to the blockade on the NH-2, the supply of essential items and food grains were affected in many parts of the tribal-dominated areas. Key Points
Economic Times
Tata Motors Q4 Results: Automaker clocks profit of Rs 5,408 crore; revenue jumps 35% YoY
The company announced a final dividend of Rs 2 per equity share and Rs 2.1 per share for DVR shareholders subject to approval by the shareholders at the AGM. Key Points
Economic TimesINI Farms gets Rs 16 crore investment from ESG First Fund
INI Farms, a leading exporter of fruits and vegetables in India, has received a $1.95m investment from the ESG First Fund managed by Aavishkaar Capital. ESG First Fund is a $250m fund focused on investing in Asia and Africa to generating ESG outcomes and financial returns alongside positive social impact. INI Farms is working with AgroStar, an agri-tech firm, to provide end-to-end services to farmers from advisory and input to output offtake to leverage mutual supply chain capabilities. Key Points
Economic TimesIndia’s January-March housing demand up 14% on year, supply grew 1.9%, Magicbricks
“Given the under-served demand for home-ownership in the affordable and mid-range segment, we are optimistic about the growth trajectory for residential demand in the coming quarters as well. We anticipate that the market will stabilise, supplemented by new projects and expedited delivery of under-construction properties, which will open up new avenues for investment and innovation,” said Sudhir Pai, CEO, Magicbricks. Key Points
Economic TimesTVS SCS bags contract from the UK Ministry of Defence for supplying spare parts for Land Rover
The Land Rover Wolf fleet has been in service with the UK MOD since the mid-1990s. TVS SCS along with the Post Design Services contractor, will continue to address to support the availability and upkeep of the platform. Key Points
FinancialexpressRetail tomato prices surge to Rs 70-80 per kg in Delhi
Retail prices of tomatoes in Delhi have surged to around Rs 70-80 per kg on lower supply due to recent heatwave... Key Points
The Tribune IndiaOil gains over $1 on possible shipping disruptions
HOUSTON (Reuters) -Oil prices gained more than $1 by midday on Monday on expectations of higher demand and the risk of disruptions to shipping, analysts said. Brent crude futures were up $1.06, or Key Points
ThePrintOil climbs as Middle East tensions fester
By Natalie Grover LONDON (Reuters) -Oil prices rose on Monday after a drone attack on U.S. forces in Jordan added to supply disruption concerns in the Middle East and Houthi militants stepped up Key Points
ThePrintTraders don't expect a big crude shock just yet
Crude traders don't expect a massive price surge as there's no immediate threat to supply. But all eyes are on Iran, a major oil producer and key backer of the Hamas group that launched this weekend's offensive on Israel. Key Points
Economic TimesAustralia's EcoGraf considers battery anode material facility development in Vietnam
Australia's EcoGraf (EGR.AX) said on Monday it would evaluate prospects of developing a battery anode material (BAM) facility in Vietnam in collaboration with local lithium-ion battery manufacturer VinES Energy Solutions (VinES). Key Points
ReutersTVS supply Chain shares to list on Wednesday. What GMP signals
The qualified institutional buyers (QIB) portion was subscribed 1.35 times, while the non-institutional investor (NII) segment was subscribed 2.35 times. The retail individual investor category saw bids for 7.61 times the shares set aside for them. The issue was sold in the price band of Rs 187-197 per share Key Points
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Philippines must import rice as El Nino looms, may look to India - Marcos
Philippine President Ferdinand Marcos Jr. said on Saturday his country must start importing rice to prepare for the impact of El Nino dry weather conditions on the local harvest, and may seek a supply deal with India. Key Points
Reuters