Sunday, September 27
India's manufacturing activity accelerated to a 14-month high in June, driven by a substantial rise in international sales that boosted output and sparked record-breaking hiring, a business survey showed on Tuesday. The HSBC India Manufacturing Purchasing Managers' Index , compiled by S&P Global, climbed to 58.4 in June from May's 57.6 and in line with a preliminary estimate released last week. The PMI threshold of 50.0 separates growth from contraction in activity. "Robust end-demand fuelled expansions in output, new orders, and job creation," said Pranjul Bhandari, chief India economist at HSBC. Factory output grew at its fastest pace since April last year, supported by strong demand. Incoming new orders increased at the steepest rate in nearly a year, with international demand provi
Betting that the production of solar modules could trigger a re-rating similar to what occurred in 2017 after the launch of Reliance Jio, domestic brokerage firm Nuvama has issued the highest target price of Rs 1,801 for Reliance Industries (RIL).At its recent analyst meet, RIL announced the start of its first line of HJT module manufacturing facility with a capacity of 1 GW, which can be scaled up in phases to a fully integrated 10 GW by early CY26.Nuvama’s channel checks with key industry participants reveal that RIL has offered to sell its HJT modules in the lucrative domestic market, as the rollout of its power generation business is still some time away.“RIL’s modules business (20 GW capacity) yields an EV of $20 billion, which could trigger a valuation re-rating for RIL, simila
