Experts Financial News

Russian clients that UBS took on when it bought Credit Suisse, three people familiar with the matter said, heightening scrutiny of one of the world's biggest wealth managers. The U.S. sanctions enforcement agency, OFAC, has written to the bank as part of this inquiry, two people familiar with the matter told Reuters. A U.S. official, asking not to be named, said the Swiss bank and the enforcer have held discussions. OFAC, or the Office of Foreign Assets Control, the globe's most powerful sanctions agency, wrote to UBS in recent weeks, said one of the people.

Swiggy made a muted debut by listing at a small premium of 8% over its issue price. After listing, Swiggy shares jumped 9% to Rs 449 on BSE, with its market capitalization crossing the Rs 1 lakh crore mark. The issue, which opened on November 6, was subscribed 3.6 times the shares on offer driven by institutional investors on the third and final day. Retail investors subscribed to their portion 1.14 times while the portion reserved for employees saw 1.65x bidding. Non-institutional investors, which include corporates and high net worth individuals (HNIs), bid for only 41% of the shares reserved for them. Analysts had anticipated Swiggy's muted debut on the bourses as weakness in the broader market dampened appetite among individual investors for newly-listed companies. The grey market premium — the price in the unofficial market that investors pay for the unlisted shares before listing — was at Rs 2 for Swiggy on Tuesday, a 0.5% premium to the upper price band of Rs 390.

Naoki Hyakuta is facing severe backlash after making a controversial comment suggesting that women might need to «remove their uteruses» after 30 and help reverse the declining birthrate in Japan. Naoki Hyakuta, Japan's Conservative Party leader made the bizarre claim in a YouTube video where he discussed measures to increase the country's birthrate as part of a broader discussion on the challenges Japan faces due to its ageing population. According to a report in the South China Morning Post, the leader of the Japanese Conservative Party also said the solution to the nation’s population crisis would be to ban women from getting married after the age of 25. He did not stop there.

death, Julie McFadden, a hospice nurse in the US, explained the physical changes that occur in the human body after death. McFadden, who transitioned to hospice care after years in intensive care, has built a following by addressing common questions about dying, intending to remove fear and stigma associated with death. Her viral video, which has garnered over 590,000 views, describes the initial changes that occur as a body begins to decompose.

Jyotivardhan Jaipuria, Founder & MD, Valentis Advisors, says he typically tries to buy stocks following the three-U philosophy. He buys the undervalued, under-owned and underperforming stocks. So, for him, the valuation of food valuation and q-comm stocks has been a big constraint as at these valuations, the margin for safety is quite low. So, even though growth will come, there is not that much margin of safety. What is happening in the market? Can a conclusion be drawn that it is the disappointment on the earnings front that is leading to such a downtick in the markets? Or do you think there are a lot of moving parts that one needs to watch out for? Jyotivardhan Jaipuria: I guess the starting point was valuation. The valuations have been expensive for some time. A lot of us have been expressing concerns about that. So, when valuations are expensive, you need one trigger. The earnings were a little disappointing, that was one trigger. Also, probably the fact that China did a stimulus and there was a revival in interest in China. So to that extent, people are taking money off the table in some of the other countries that have done well. So, those would be the two points to think about in this correction.

Kalaignar Multi-speciality Hospital in Chennai was stabbed by a man on Wednesday morning at around 10:15 am in the Oncology department, TOI reported on Wednesday. The accused, a 26-year-old man, entered the hospital posing as a patient to meet Dr. Balaji Jaganathan, a medical oncologist. Upon entering the doctor’s room, the man attacked Dr. Jaganathan with a knife, stabbing him in the neck, head, and upper chest. The doctor also sustained injuries to his ear while defending himself. Hospital staff apprehended the attacker as he attempted to flee the scene and is currently in custody at the Guindy police station.

According to the agenda of the meeting, the panel on education, women, children, youth and sports headed by Congress MP Digvijaya Singh will also hear the WCD secretary on the functioning of various statutory and autonomous bodies such as the National Commission for Women, National Commission for Protection of Child Rights, Central Adoption Resource Authority, and the National Institute of Public Cooperation and Child Development. The Prohibition of Child Marriage (Amendment) Bill, 2021, which was introduced in the Lok Sabha in December 2021 was referred to the standing committee and got several extensions.

Donald Trump’s victory, driving the cryptocurrency to new all-time highs (ATH). Following Trump's win, Bitcoin surged over 30%, peaking at an ATH of $89,956 and maintaining a bullish trend since then. However, after reaching the record high of $89,956 on Tuesday, Bitcoin saw some profit-taking on Wednesday. As of 12:32 pm, the cryptocurrency was trading 3% lower at $86,740.

Dalal Street as Nifty is now 10% from its 52-week high of 26,277 while Sensex has lost over 8,000 points from its peak. While the headline indices will be treated in bear grip if they fall below 20% from the peak, retail investor portfolios are already reflecting signs of a bear market as more than 900 stocks above Rs 1,000 crore market capitalisation are down at least 20% from their 52-week high levels.

Warren Buffett created Berkshire Hathaway Inc.’s Class B shares almost 30 years ago to stymie money managers who sought to split the high-priced conglomerate’s stock. One of South Korea’s largest retail brokerages now plans to package the Class B shares into an exchange-traded fund turbocharged with derivatives, another move that Buffett might not like.

Tube Investments of India Ltd. traded 2.16 per cent in Wednesday's session at 01:37PM (IST). The stock opened at Rs 3562.10 and has touched an intraday high and low of Rs 3580.70 and Rs 3470.00, respectively, during the session so far. The stock quoted a 52-week high of Rs 4807.05 and a 52-week low of 3130.50. About 10,611 shares changed hands on the counter so far.

Rahul Gandhi took a break from campaigning for the Wayanad by-election on Tuesday to explore the region and promote its tourism potential. The LoP in the Lok Sabha posted a video of himself trying out Kerala’s longest zipline in Wayanad’s scenic hill district, donning an “I love Wayanad” T-shirt. During the visit, he also jokingly challenged his sister, Priyanka Gandhi, to join him on the zipline in her saree. The region, which has suffered from a decline in tourism following devastating landslides in July, has been struggling with economic hardships, particularly for locals in the tourism and hospitality sectors. However, Gandhi praised the resilience of the people, noting that despite the challenges, they’ve worked hard to create new attractions, such as South India’s largest giant swing and a thrilling drop tower.

Zinka Logistics, which opened for subscription earlier today, has been subscribed by 21% so far on the first day of the bidding process. Around 1:15 pm, the issue had attracted 46,70,514 bids out of the total 2,25,67,270 available for subscription. The highest demand was driven by the retail investors subscribing to the issue by 35%, followed by the qualified institutional buyers (QIBs)

Dogecoin surged over 10% to $0.3869 in the early Asian trading hours on Wednesday after U.S. President-elect Donald Trump said on Tuesday Elon Musk and former Republican presidential candidate Vivek Ramaswamy will lead the newly created Department of Government Efficiency (DOGE). The acronym “DOGE” is a nod to Musk's favorite cryptocurrency, dogecoin. Trump said in a statement that Musk and Ramaswamy will work from outside the government to offer the White House “advice and guidance” and will partner with the Office of Management and Budget to “drive large scale structural reform, and create an entrepreneurial approach to Government never seen before.” He added that the move would shock government systems.

Zomato chief executive officer Deepinder Goyal took to social media to congratulate rival food delivery platform Swiggy on its stock market debut on Wednesday. The Sriharsha Majety-led company listed on the bourses with an 8% premium over its IPO price. «Congratulations @swiggy! Couldn't have asked for a better company to serve India with,» his post on X read. This came after the official handle of Zomato posted an illustration of the BSE, showcasing the listing of Swiggy.

Speaking to ANI, Sule said «Joint Parliamentary Committee is a huge thing. Are they going to end that too? This is a democracy and the country runs on a Constitution, not on any invisible force.» Shah had said that Maha Vikas Aghadi (MVA) is against the changes, but the bill to amend the law regarding the Waqf board will soon be passed in the Parliament.

Tata Power Company Ltd. traded 2.22 per cent in Wednesday's session at 12:36PM (IST). The stock opened at Rs 413.45 and has touched an intraday high and low of Rs 416.20 and Rs 404.40, respectively, during the session so far. The stock quoted a 52-week high of Rs 494.85 and a 52-week low of 251.40. About 905,336 shares changed hands on the counter so far.

SRF Ltd. traded at Rs 2211.25 on BSE at 12:46PM (IST) on Wednesday, 1.74 per cent from previous close. The stock quoted a 52-week low price of Rs 2088.55 and a high of Rs 2697.45.

GAIL (India) Ltd. 1.85 per cent to Rs 190.45 at 12:41PM (IST) in Wednesday's trade. The scrip has hit a high of Rs 194.70 and low of Rs 189.85 so far during the session. The stock had closed at Rs 194.05 in the previous session. The counter has had a total traded volume of 315400 shares so far with a value of Rs 6.04 crore on the NSE. It traded at a price-to-earnings multiple of 10.88 and a price-to-book ratio of 1.55.

Lupin Ltd. traded 2.31 per cent in Wednesday's trade at 12:51PM (IST). Around 8,814 shares changed hands on the counter. The scrip opened at Rs 2111.95 and touched an intraday high and low of Rs 2111.95 and Rs 2036.75, respectively, in the session so far. The stock of Lupin Ltd. quoted a 52-week high of Rs 2312.00 and a 52-week low of Rs 1153.55.

Swiggy surged 9% to Rs 449 on BSE in Wednesday's trade after making its Dalal Street debut at Rs 412. Meanwhile, the company’s market capitalization crossed Rs 1 lakh crore mark. Swiggy’s muted debut on Dalal Street was marked by a small premium of 8% over its issue price. Investors are refraining from making bold bets on the stock since the company is currently loss-making at the consolidated level and is believed to be at least 2-3 years away from PAT level break-even.