U.S. court denies Go First emergency arbitration in Pratt & Whitney dispute
Go First, had in May sought an emergency arbitration to prevent it from going out of business and blamed Raytheon Technologies-owned engine maker for its financial woes and bankruptcy filing. It alleged that the U.S. firm supplied faulty engines and failed to replace them on time, resulting in the grounding of half of its fleet. Key Points
Economic TimesMaruti 1st car company to cross Rs 1 lakh crore revenue mark
Maruti Suzuki has become the first passenger vehicle maker in India to cross Rs 1 lakh crore ($14.5 billion) in revenues, entering the league of top 30 automakers globally, as per Bloomberg data. This is the second Indian PV maker in the global ranking after Tata Motors to enter the league. Key Points
Economic TimesIndian shares set to rise as Fed triggers rise in global stocks
Indian shares are set to open higher on Thursday, tracking a rise in global stocks after the U.S. Federal Reserve kept rates unchanged and Chair Jerome Powell hedged on the possible end of the rate hiking cycle. Key Points
ReutersWall Street climbs on signs of easing inflation; chip stocks gain
U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s Key Points
Business TodayIndia's Bajaj, Mahindra post strong jump in Nov auto sales on festive demand
Indian motorcycle maker Bajaj Auto (BAJA.NS) and carmaker Mahindra and Mahindra (MAHM.NS) on Friday reported strong volume growth in November, helped by festive season-led demand. Key Points
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EV maker VinFast to buy majority stakes in its battery maker sibling
Electric-vehicle maker VinFast Auto said on Wednesday it would acquire a 99.8% stake in battery maker VinES from its founder Pham Nhat Vuong as it seeks to ramp up its integration in the production value chain and competitive advantage. Key Points
ReutersAmazon Great Indian Sale 2023: Get up to 70% off on waffle makers
Don’t miss the chance to buy your dream waffle maker at a huge discount. Check out the best offers on waffle makers from top brands in the Great Indian Sale 2023. Key Points
mintGerman battery maker Varta says five plants hit by cyberattack
(Reuters) -German battery maker Varta's five production plants were hit by a cyberattack on Feb. 12, the company said late on Tuesday, adding that the extent of the damage had yet to be determined. Key Points
ThePrintIndia's share-sale frenzy is seen continuing in 2024: Bankers
India offers “a much more constructive story for capital markets than the rest of Asia. It is as wide open as we have seen it for a while,” said Udhay Furtado, co-head of ECM, Asia Pacific at Citigroup Inc. “Bigger names could be potential candidates for 2024 listings.” Key Points
Economic TimesIndia's Samvardhana Motherson misses Q1 profit view as higher costs weigh
India's auto components maker Samvardhana Motherson International (SAMD.NS) on Thursday reported a smaller-than-expected jump in first-quarter profit, as higher expenses offset performance at its modules and polymer products division. Key Points
Reuters
Pratt & Whitney says pursuing its own legal recourse against Go First's claims
Engine maker Pratt & Whitney is pursuing its own legal action against budget airline Go First after the carrier blamed it for its poor financial performance. The move came after India's National Company Law Tribunal approved the no-frills airline's request for voluntary insolvency resolution proceedings. P&W denied it was responsible for Go First's financial position and said it had offered the airline support for many years, including during the Covid crisis. Key Points
Economic TimesNiranjan Gupta takes over as Hero MotoCorp CEO
Niranjan Gupta has taken over as CEO of Hero MotoCorp. Earlier, he was chief financial officer (CFO), Head of Strategy and M&A, the two-wheeler maker said. Dr Pawan Munjal will continue as executive chairman, the company said. TNS Key Points
The Tribune IndiaHindenburg Research discloses short position in server maker Super Micro; shares fall 5%
Hindenburg Research announced a short position in Super Micro Computer, alleging accounting manipulation. The server maker's shares dropped approximately 5% in early trading. Closely linked with Nvidia, Super Micro has benefited from the AI boom. Hindenburg's report also claims other issues like undisclosed related party transactions and export control failures. Key Points
Economic TimesCummins India posts 23% rise in Q2 profit on lower costs
Diesel and natural gas engine maker Cummins India (CUMM.NS) reported a 23% rise in second-quarter profit on Tuesday as lower expenses helped offset slowing engine demand. Key Points
ReutersZimmer Biomet beats quarterly profit estimates on knee procedure strength
Zimmer Biomet Holdings Inc (ZBH.N) on Tuesday beat Wall Street estimates for third-quarter profit, as a rebound in knee surgeries lifted demand for the medical device maker's products. Key Points
Reuters
Capex revival : 5 stocks from capital good and engineering sector; with upside potential of up to 35 %
Capital goods and engineering is a very broad term. From a company making small machinery parts to one making a large turbine for power generation all tend to get clubbed together. But they are all different, both in their ability to perform complex tasks and the industry they are catering. While a power turbine maker had tough times given the fact hardly any new power plant came up in the last ten years. Some others like the ones which were dealing with railways, had a good time given the expansion and modernisation of railways has been on fast track. Key Points
Economic TimesUK's CMA says examining Qualcomm's buyout of Israel's Autotalks
Britain's antitrust regulator on Friday said it was examining whether Qualcomm's (QCOM.O) purchase of Israeli auto-chip maker Autotalks would lessen competition in the UK market. Key Points
ReutersParacetamol maker Granules India' Q1 profit hurt by cyber attack disruptions
Granules India Ltd (GRAN.NS), the maker of paracetamol and ibuprofen pain relievers, reported a 62.5% fall in first-quarter profit on Wednesday, as a cyber security incident significantly disrupted operations. Key Points
ReutersHero MotoCorp receives over 25,000 bookings for India-made Harley-Davidson
Indian bike maker Hero MotoCorp (HROM.NS) on Tuesday said it received over 25,000 bookings for the world's cheapest Harley Davidson motorcycle, sending shares up over 3%. Key Points
ReutersIndia's TVS Motor beats Q1 profit view on two-wheeler demand
India's TVS Motor (TVSM.NS) reported a bigger-than-expected rise in first-quarter profit on Monday, helped by strong demand for its two-wheelers, including its flagship electric scooter. Key Points
Reuters
PlayStation Plus announces free games for April 2023. Check the list.
The company has announced its free games lineup for April on the PlayStation Blog. Additionally, the post also serves as a reminder to PS Plus subscribers to add the monthly free games for March to their game libraries before April 3. Key Points
mintRepublican lawmakers urge FTC to drop fight against Microsoft deal for Activision
Twenty-two Republican lawmakers urged the Federal Trade Commission to drop its fight against Microsoft's (MSFT.O) deal to buy video game maker Activision Blizzard (ATVI.O), calling it "an example of the FTC’s rejection of sound antitrust policy." Key Points
ReutersSingapore court tells Pratt & Whitney to supply engines to Go First
Go First stopped flying and appealed for insolvency proceedings in the National Company Law Tribunal (NCLT) on May 2 due to cash problems and after it had to ground more than half of its 54 planes because of supply issues from the American engine maker. Supply of engines will give it some hope to resume its grounded operations. Key Points
Economic TimesGo First backs emergency arbitration in Pratt & Whitney dispute in US
The Indian airline blames the Raytheon Technologies-owned engine maker for its financial woes and recent bankruptcy filing, arguing that the U.S. firm supplied faulty engines and failed to replace them on time, resulting in the grounding of half of its fleet. Key Points
Economic TimesGo First urges for emergency arbitration in Pratt & Whitney dispute
Go First has said it needs an emergency arbitration in its dispute with Pratt & Whitney. The airline had blamed the Raytheon Technologies-owned engine maker for supplying faulty engines and failing to replace the same in time. Key Points
India TodayNuvoco Vistas starts operations at ready-mix concrete plant in Bihar
New Delhi, Feb 22 (PTI) Cement maker Nuvoco Vistas on Thursday said it has commenced operations at a ready-mix concrete plant in Bihar. The plant marks the company’s continued commitment for providing building material to the Patna region, the company said in a statement. “The launch of the Patna-II plant underscores Nuvoco’s dedication to providing […] Key Points
ThePrintAshok Leyland secures supply order for 1,225 buses for Karnataka State Transport Undertakings
Mumbai, Jan 18 (PTI) Commercial vehicle maker Ashok Leyland on Thursday said it has secured a supply order for 1,225 buses from the Karnataka State Transport Undertakings. The fully built Viking buses will be delivered by April, the company said in a statement. The state government undertaking already has over 11,680 operational buses in its […] Key Points
ThePrintRangsons Aerospace signs pact with Boeing to supply tubes, ducts
Mumbai, Jan 18 (PTI) Rangsons Aerospace said on Thursday it has signed a contract with US aircraft maker Boeing to supply tubes and ducts for aerospace systems. This marks Boeing’s first such collaboration of this nature with an Indian supplier, the company said. The five-year contract consolidates its position as a key contributor to the […] Key Points
ThePrintHow companies are responding to attacks on ships in the Red Sea
The attacks, targeting a route that accounts for about 15% of the world's shipping traffic, have pushed several shipping companies to reroute their vessels. The U.S. and Britain launched dozens of air strikes against Houthi military targets overnight on Jan. 11 and 12 in retaliation for the attacks, widening regional conflict stemming from Israel's war in Gaza. Key Points
Economic TimesReady for another round of outperformance? 4 tile and ceramic product maker stocks with upside potential o
Like many industries, home building products like ceramic tiles got a sharp re-rating in the last couple of years. Any company with a strong brand got to valuations which were much higher than average valuation they got in years. As it happens, when valuations reach an extreme high zone, self correction sets in. Stocks move in a broad range, they tend to under perform in a bullish market, but at the time in a bearish market they outperform by falling less as compared to another. Essentially, they witness a time wise correction for a period where earnings reach a level that their valuations become normal. After becoming normal, the probability of another round of strong upward movement increases. Key Points
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CEO says Bayer is looking into break-up, will cut management jobs
Bayer (BAYGn.DE) said on Wednesday it was looking into splitting off either the diversified group's Consumer Health or Crop Science division, but ruled out a three-way split. Key Points
ReutersIndian battery maker Eveready posts rise in Q2 profit on lower costs
Battery maker Eveready Industries India (ERDY.NS) on Tuesday reported a more than 72% rise in second-quarter profit, helped by diminishing costs. Key Points
ReutersJapan's JSR slashes profit forecast on chip recovery weakness
Japanese chip materials maker JSR Corp (4185.T) on Monday slashed its operating profit forecast for the current financial year by 62%, citing a weak recovery in demand for semiconductors and a slowdown in the biotech market. Key Points
ReutersIndia's Prism Johnson posts Q2 profit on one-time gain
Indian building materials maker Prism Johnson (PRIS.NS) reported a second-quarter profit on Friday, compared to a loss a year ago, helped by a one-time gain from the sale of some assets. Key Points
ReutersIndia's Orient Electric posts Q2 profit on one-time gain, steady demand
Appliances maker Orient Electric (ONTE.NS) on Friday reported a second-quarter profit, aided primarily by a one time gain from land sale and buoyed by steady demand for its consumer durables business. Key Points
Reuters
Zebra Technologies beats quarterly profit expectations, sees soft demand
Barcode scanner maker Zebra Technologies Corp (ZBRA.O) beat third-quarter profit and revenue estimates on Tuesday but forecast a bigger-than-expected drop in the fourth-quarter net sales due to slowing tech spending in a tough economy. Key Points
ReutersComputer parts maker Logitech appoints Hanneke Faber as CEO
Computer parts maker Logitech International (LOGN.S) named Hanneke Faber as its new chief executive officer on Monday, effective Dec. 1. Key Points
ReutersEU regulators set new Feb 14 deadline on Amazon/iRobot deal
European Union (EU) antitrust regulators will decide by February 14 next year on whether to clear Amazon's (AMZN.O) $1.4 billion acquisition of robot vacuum maker iRobot (IRBT.O), according to a regulatory filing. Key Points
ReutersNestle keen on acquisitions; moving fast to mitigate local competitors: Nestle India MD
Nestle India is actively seeking acquisitions that align with its existing portfolio and meet valuation expectations, according to the company's managing director, Suresh Narayanan. The food manufacturer, known for brands such as Maggi noodles and KitKat chocolate, has expressed interest in acquiring Capital Foods. Narayanan also addressed competition from local rivals in categories such as noodles. Key Points
Economic TimesFirst semicon fab expected within a year, focus on components where India can lead: Vaishnaw
India is set to establish its first electronic chip manufacturing plant within a year, with a government incentive of $10 billion. The focus will be on developing and manufacturing chips for the telecom and electric vehicle sectors, as these are emerging areas with potential for global leadership. The success of US-based storage chip maker Micron's investment in India has boosted confidence in the country's capabilities. Key Points
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U.S. antitrust enforcer says pressing on with fight against Microsoft/Activision deal
The U.S. Federal Trade Commission said on Friday it remained focused on its appeal opposing Xbox maker Microsoft's (MSFT.O) now-closed $69 billion deal to buy Activision (ATVI.O) but would "assess" the company's agreement with Ubisoft (UBIP.PA). Key Points
ReutersMicrosoft-Activision: Ubisoft deal helps win Britain's nod
Britain's antitrust regulator on Friday cleared Microsoft's (MSFT.O) acquisition of "Call of Duty" maker Activision Blizzard (ATVI.O) after the restructured deal substantially addressed its earlier concerns. Key Points
ReutersInsulet CFO to step down, join 3M's healthcare business
Insulet Corp (PODD.O) said on Tuesday Wayde McMillan would step down as the medical device maker's chief financial officer, effective Oct. 20, to join 3M's (MMM.N) healthcare business. Key Points
ReutersGovt calls meeting of states, bank officials on 'PM Vishwakarma' on Monday
The Indian government has called a meeting to discuss the implementation of the PM Vishwakarma scheme, which aims to support traditional artisans and craftspeople. The scheme, to be launched on September 17, will provide training and loans to skilled workers, with a target of enrolling 3 lakh beneficiaries in the current fiscal year. Key Points
Economic TimesPlay 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
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Indian shares set to open flat as cooling US inflation offsets domestic concerns
Indian shares are set for a muted start on Friday, as optimism over moderating U.S. inflation offset near-term domestic price concerns. Key Points
ReutersIndia's Pidilite Industries posts Q1 profit rise on strong demand, easing costs
India's Pidilite Industries (PIDI.NS), maker of adhesive brand Fevicol, reported a more than 32% rise in first-quarter profit on Thursday, aided by strong demand and reduced input costs. Key Points
ReutersLogitech raises sales forecast for first half of 2024
Logitech International (LOGN.S) on Tuesday raised its sales outlook for the first half of its 2024 financial year, in the first set of results since longstanding CEO Bracken Darrell quit the computer peripherals maker last month. Key Points
ReutersNikola says damaged truck reignites at its headquarters
An electric truck which was previously damaged reignited at Nikola's (NKLA.O) Phoenix, Arizona headquarters on Sunday afternoon but there were no injuries, the electric-truck maker said in a statement. Key Points
ReutersRoper Technologies raises 2023 profit forecast on increased software adoption
Industrial software maker Roper Technologies (ROP.O) raised its annual profit forecast on Friday on robust demand for software, as automation adoption grows across industries grappling with labor shortages. Key Points
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U.S. appeals court refuses FTC request to pause Microsoft deal for Activision
A U.S. appeals court on Friday rejected the Federal Trade Commission's request that it order Microsoft (MSFT.O) to temporarily hold off on closing its $69 billion purchase of "Call of Duty" maker Activision Blizzard (ATVI.O). Key Points
ReutersFactbox: What's next after US judge rules in favor of Microsoft-Activision deal?
Microsoft (MSFT.O) cleared a major hurdle in its planned $69 billion purchase of videogame maker Activision Blizzard (ATVI.O), as a judge gave a thumbs-up to the proposed deal a week before the July 18 termination date. Key Points
ReutersRising volume, market share gain augur well for Maruti Suzuki
The operating margin before depreciation and amortisation (EBITDA margin) of the maker of Baleno and Brezza rose by 70 basis points sequentially to an 28-quarter high of 10.5% in the March quarter. This is the fourth quarter in a row when the margin has expanded sequentially. A mix of improved realization due to price increase, lower discount per car, better economies of scale on higher production, and cost control supported margin expansion for the company. Key Points
Economic TimesLG Energy Solution Q1 profit more than doubles, in line with forecast
South Korea's LG Energy Solution on Wednesday posted a 145% jump in quarterly profit, as the battery maker factored in subsidies from the U.S. Inflation Reduction Act and solid sales of electric vehicles (EVs) in U.S. and European markets. Key Points
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