SUN Financial News

wildfires in Alberta are coughing up clouds of smoke that are obscuring the sky and hazardous to health.However, there’s so much smoke that wildfires are being shaded from the sun and daytime temperature highs in some areas are cooler than forecast, leading to reduced fire activity.Wildfire officials say they are expecting “increased and significant fire behaviour” when the smoke clears as hot and dry weather continues.About 7,500 people in Alberta have been forced to flee their homes because of wildfires, with five communities under evacuation orders.That includes all three communities in the Little Red River Cree Nation, which is being threatened by an out-of-control wildfire complex that’s estimated to be more than 960 square kilometres in size.Environment Canada says cooler temperatures are expected to start moving into northwestern parts of the province starting Monday night, though hot conditions may persist through much of the week farther south.

Nirmala Sitharaman tabled the Economic Survey 2023-24 in the Parliament today. The Survey, authored by Chief Economic Advisor V Anantha Nageswaran and his team, highlighted the initiatives taken by India to address climate change and energy security.

Hiren Ved, Director & CIO, Alchemy Capital, says every bull market sees sector rotation. So, financial will have their time under the sun at some point in time. But am I very bullish on largecap private banks leading this bull market? The answer is no. I think they were leaders of the previous bull market and people have kept on harping that this is an area that is cheap and there is value but it has continued to underperform. Very seldom do leaders of the previous cycle lead in the next cycle. One feels FOMO about booking profits, but then the markets rally further and you feel that you have taken off money too early? How do you marry the two dichotomies? Do you stay put or book something off the table? Hiren Ved: Booking profits and then doing what with that money?

Shriram Properties has appointed Gopalakrishnan J as executive director and group CEO. He is currently serving as an executive director and Group CFO. As part of this transition, K R Ramesh will assume the role of executive director — strategy and corporate development, moving from his current position as ED-Operations. Gopalakrishnan, who joined SPL in 2018, has been instrumental in driving the company's transformation and played a vital role in the IPO process. With over 33 years of experience in corporate finance and capital markets, including tenure at Reliance Industries Limited (RIL) and the Aditya Birla Group, he brings extensive expertise to his new role.

Supreme Court has dismissed pharmaceutical major Sun Pharma's plea against a demand notice of Rs 4.65 crore raised by National Pharmaceutical Pricing Authority (NPPA) to recover the amount overcharged by the company for anti-bacterial infection drug Roscilox. Sun Pharma has challenged the NPPA's demand notices of 2005. The company was directed to deposit the overcharged principal amount of Rs 2,15,62,077 for the period April 1996 to July 2003 and the interest on this amount (Rs 2,49,46,256) for Roscilox, a brand of a Cloxacillin-based drug formulation The amount charged was more than that fixed by the government under the provisions of the Drugs (Price Control) Order, 1995 (DPCO). The pharma company has already paid a sum of Rs 1.25 crore towards the demand made by the NPPA.

Kylian Mbappe has had a stellar run in the Euro Cup 2024 with France and now his next journey promises to be a big one after he was unveiled as a new Madrid star before 85,000 fans, who gave him the best welcome possible. In a Cristiano Ronaldo-style move, Mbappe kissed the Real Madrid badge after being inducted into the legendary La Liga camp as thousands cheered him on.

Hong Kong’s innovation minister says the government is testing its own ChatGPT-style tool for its employees, with plans to eventually make it available to the public, after OpenAI decided to take extra steps to block access from unsupported regions lik...

Kitces.com, the namesake website of financial planning industry thought leader Michael Kitces, has announced a new virtual event to help investment advisor representatives get to grips with updated ethical requirements.

NASA's Parker Solar Probe has achieved a remarkable feat, solidifying its place as the fastest human-made object ever recorded. According to NASA, on June 29, the probe reached a remarkable speed of 635,266 km (394,736 miles) per hour, matching its own previous speed record set in 2018 since its launch.

mutual funds bought stocks worth Rs 282 billion in the Indian secondary market. Mutual funds always add or exit certain stocks in their portfolio to offer better returns. Here are the large, mid, and smallcap stocks that mutual funds bought and sold in June, according to the Mutual Fund Insights report by Nuvama Alternative & Quantitative Research. The key additions by mutual funds were Indus Tower, HDFC Bank, Mphasis. Meanwhile, the MFs reduced their stake from ICICI Bank, Hindalco, and Bharat Electronics. The new entry in the largecap segment was Hindustan Zinc. Mutual funds made a complete exit from Adani Green. The top additions in the largecap space were HDFC Bank, Infosys, Reliance Industries, ICICI Lombard, and Dr Reddy Laboratories while the top reductions were Hindustan Aeronautics, Bharat Electronics, Tata Motors, State Bank of India, and Sun Pharma Industries.

The BSE Sensex was trading 194 points, or 0.24%, higher at 80,712. The Nifty50 was up 85 points, or 0.35%, trading at 24,587 around 9:17 am.

solar particle event" might have a catastrophic effect on Earth, according to scientists. Experts predict that these occurrences, which happen around every thousand years, could happen shortly. The ejection of protons into space by the sun is known as solar particle events or solar storms. If these particles get to Earth, they have the potential to do serious damage, as per the reports of Daily Star.

inner core of the Earth which is as hot as the core of the Sun and keeps on rotating to help maintain the planet's magnetic field, has reversed its motion? According to the study that scientists carried out based on the earlier collected data, the inner core has reversed its rotational direction, a phenomenon called 'backtracking'. According to 'Business Insider', the change in the direction of rotation took place in 2010. Scientists are yet to know what triggered the backtracking. They also wonder if and when the rotation of the core will change back. Also Read: Copa America 2024 latest updates: These are the teams that qualified for the quarterfinals

Foram Parekh, Associate V-P,Sharekhan By BNP Paribas, says from the domestic pharma side, he likes Torrent and from the US side, Lupin and Sun Pharma. Zydus Life is also there. They like Sun because despite all the plant problems that this company is facing, its US specialty drug is doing good and it will continue to do good. Even it has new product launches coming up next month in the specialty side. Zydus got the US FDA approval for an Edarbi drug. The stock is sitting at a one-month high level. The updates that we have got concerning the Q1 domestic as well as the import data suggest that this quarter is going to be strong. What are your expectations concerning Zydus Life and the stock movement going forward? Foram Parekh: We like Zydus Life and we also believe that this quarter is going to be healthy for Zydus because its US business is doing good. Also, it has launched Mirabegron in the US market which is a very big product and almost has a market size of $1 billion. Zydus has launched it in two strengths – 25 and 50 mg and it is the sole player to launch in 50 mg.

Madras Fertilizers Ltd.(up 8.43%), National Fertilizers Ltd.(up 4.07%), Mangalore Chemicals & Fertilizers Ltd.(up 2.20%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.37%), Rama Phosphates Ltd.(up 1.06%), Rashtriya Chemicals & Fertilizers Ltd.(up 1.05%), Madhya Bharat Agro Products Ltd.(up 0.66%), Zuari Agro Chemicals Ltd.(up 0.46%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.29%) and Aries Agro Ltd.(up 0.07%) stood among the top gainers.

Earth and the moon on Saturday. This was the second close miss in three days after an asteroid passed 4 million miles away on Thursday. The occasion, which emphasized persistent worries about space threats, took place on Sunday in conjunction with Asteroid Day, commemorating the Russian explosion of 1908, as reported by Yahoo News.

National Stock Exchange of India Ltd (NSE India) has appointed Amber Gupta as senior vice president and head of legal. An alumnus of the University of Lucknow and also a member of the Institute of the Company Secretaries of India (ICSI), Gupta was head of corporate legal, company secretary and compliance officer at the Aditya Birla Capital before joining the stock exchange.

On the BSE, Natura Hue Chem(down 12.96 per cent), Mega Nirman & Ind(down 9.92 per cent), Integrated Hitech Ltd.(down 9.50 per cent), Sun Tech Over(down 9.43 per cent) and Otco Intnl(down 8.20 per cent) were among the stocks that plunged over 5 per cent during the session.

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«Even if the markets go through a bit of a correction, pharma and FMCG will stand out. So, almost 14% to 15% of your portfolio at this point of time should be in pharma,» says Gautam Shah, Goldilocks Premium Research. What would you like to get into in pharma? What are you riding there? Gautam Shah: Well, pharma has been a brilliant story for the last one year. For the last four months, it has actually got into a consolidation patch. Now it saw a breakout last week and we like stocks like Dr Reddy's which could be setting up for possibly a Rs 1,000 rally from here. Sun Pharma has been a structural story for a couple of years now. Cipla has been doing well. Stocks like Divi’s Lab and Laurus Lab have completed their underperformance, so they are also likely to move up. So, this entire pack has a lot more upside and we have seen what Wockhardt Pharma and Zydus Life have done in the recent past. And these are in some sense low beta or negative beta. So, even if the markets go through a bit of a correction, pharma and FMCG will stand out. So, almost 14% to 15% of your portfolio at this point of time should be in pharma.