Sensex tops 50,000-level in opening trade, Nifty above 14,800
The Hindu
Bengaluru-based Stove Kraft sets up automated cast iron foundry to manufacture cookware for global markets. Investing ₹55 crore, the company plans to hit markets by April 2024. Women entrepreneurs to operate 100 of 500 own outlets, with ₹300 crore invested in last 3 yrs & 5,500 employees, 70% women.
It is for the first time that India and Asia are hosting this prestigious global coffee event and Coffee Board is currently in the last leg of preparation to host the four-day coffee exposition that is commencing in the City on September 25.
ALL expects to continue all-round growth in CV industry due to Centre's focus on infra dev. Govt initiatives such as Scrappage Policy, Nat'l Infra Pipeline, dedicated freight corridors, and multimodal logistics parks to benefit CV industry. ALL plans to expand presence, enter sub-2.0 tonnes segment, and focus on profitability. Setting up e-bus facility with UP Govt support. Plant to produce e-buses with capacity of 2,500 units/annum, and flexibility to assemble vehicles powered by alternative fuels. Tamil Nadu to be cornerstone of ALL's growth.
SHFL opens new branch in Hyderabad, expanding presence in Tier-2/3 cities. MD expects real-estate growth to boost home finance biz in Andhra/Telengana. Disbursements of ₹400 crore last year, 20% growth expected this year. SHFL to foray into affordable-housing, open 10 branches & hire 50-75 people by 2024. June quarter net profit of ₹57 crore on disbursements of ₹1,104 crore.
JP Morgan’s decision to help lower govt.’s borrowing cost, free up liquidity: CEA Anantha Nageswaran
JP Morgan’s move to include Indian government bonds in its global emerging market bond indices could potentially lower the country’s sovereign borrowing costs, help finance the current account deficit and free up liquidity for domestic financiers to deploy in more productive assets, the Chief Economic Advisor V Anantha Nageswaran said on Friday.
TVS ILP to build warehouse in Pillaipakkam to support First Solar's solar-manufacturing facility. Ground-breaking ceremony recently held. Facility to be completed in Q1 2024, providing 200 job opportunities. Warehouse to reduce time, inventory and space utilisation costs for First Solar.
Regency Ceramics Ltd., Executive Director Narala Satyendra Prasad hopes to revive the Yanam manufacturing unit in three years time
The rupee finally settled 19 paise higher at 82.94 (provisional) against the previous close.
On a weekly basis, the BSE benchmark fell 1,829.48 points or 2.69%, and the Nifty declined 518.1 points or 2.56%.
Confident of 6.5% growth in FY24, Finance Ministry cites improved corporate profitability, private capital formation, bank credit growth, domestic demand, consumption, investment, services exports, resilience of banking sector, and government intervention to reduce core inflation.
US-based Micron Technology, Inc. to break ground on $2.75B semiconductor plant in Gujarat. Union and State govts providing 70% subsidies. Plant to start output by Dec 2024. Govt working to facilitate multinationals working with Indian startups. Draft of import management system for IT hardware to be shared with reps. Aim to increase local hardware demand from 8-10% to 65-70% in 4 yrs.