UPS Financial News

Rajshree Sugars & Chemicals Ltd.(up 17.52%), Bajaj Hindusthan Sugar Ltd.(up 14.46%), Mawana Sugars Ltd.(up 11.73%), Shree Renuka Sugars Ltd.(up 11.64%), KCP Sugar & Industries Corporation Ltd.(up 11.42%), Sakthi Sugars Ltd.(up 9.18%), Simbhaoli Sugars Ltd.(up 8.54%), KM Sugar Mills Ltd.(up 8.13%), Rana Sugars Ltd.(up 7.68%) and Magadh Sugar & Energy Ltd.(up 7.54%) stood among the top gainers.

NTPC and Power Grid Corporation, which have delivered returns of up to 110% in a year. However, domestic brokerage firm Kotak Institutional Equities has cautioned that investors may be using incorrect valuation methodologies when assessing stocks like NTPC and Power Grid Corporation.Also Read: Mint Explainer: Why the surging use of AI may challenge India’s power sector"We do not agree with the way investors are valuing NTPC and Power Grid stocks, even as we agree with the view of new capacity creation in the power sector.

₹9,440.90. It has now soared 155 percent from its 52-week low of ₹3,708.50, hit on June 26, 2023.

Colgate-Palmolive (India) Ltd. slipped 0.21 per cent to Rs 2948.85 in Thursday's trade as of 01:49PM (IST). The stock hit a high price of Rs 2967.75 and low of Rs 2907.95 during the session. The return on equity (ROE) for the stock stood at 70.61 per cent. Traded volume on the counter stood at 01:49PM shares and turnover at Rs 2.47 crore around that time. The stock of Colgate-Palmolive (India) Ltd. quoted a 52-week high price of Rs 3068.95 and 52-week low prices of Rs 1620.05, respectively.

GAIL (India) Ltd. traded 0.06 per cent lower in Thursday's session at 01:39PM (IST). The stock opened at Rs 219.3 and has touched an intraday high and low of Rs 219.3 and Rs 214.3, respectively, during the session so far. The stock quoted a 52-week high of Rs 233.0 and a 52-week low of 103.2. About 1,479,286 shares changed hands on the counter so far.

Jubilant Foodworks Ltd. traded 0.33 per cent down in Thursday's trade at 01:28PM (IST). Around 31,154 shares changed hands on the counter. The scrip opened at Rs 537.35 and touched an intraday high and low of Rs 543.0 and Rs 532.1, respectively, in the session so far. The stock of Jubilant Foodworks Ltd. quoted a 52-week high of Rs 586.35 and a 52-week low of Rs 420.85.

Siddharth Oberoi, the founder of Prudent Equity, believes the Nifty 50 may give a double-digit return this year as the outlook for the market remains positive. In an interview with Mint, Oberoi shares his views on sectors he is positive about and how investors should navigate market volatility.

Mint takes a look at how recent proposals to increase royalty payouts fared in the consumer goods space in India. The Indian subsidiaries of major foreign fast-moving consumer goods, or FMCG, companies often pay a fee known as royalty to their parent companies. This grants them access to resources, including globally recognised brands, technology, research and development capabilities, and shared services used throughout the entire organisation.

Indian listed companies to say the least. The BSE Sensex saw an incredible rise of about 24%, outperforming past performance. In addition, a cohort of companies have been buzzing in the market due to their turnaround stories.

₹63."HCC’s 10-decade-old experience of executing in-house complex and marquee projects, 26 percent of hydropower capacity and 60 percent share of India’s civil nuclear power capacity positions it to capture on ₹1.5 lakh crore nuclear opportunity," said the brokerage.Once a prominent player in India's infrastructure sector, HCC faced a downturn after FY11 due to policy paralysis and delayed government decision-making, which severely impacted the entire construction industry. However, after a decade of challenges, including debt restructuring, dispute resolutions, and monetisation of non-core assets, the company is poised for a resurgence, noted Elara.

You have to hand it to Apple Inc. After a tone-deaf ad last month that made the company look oblivious to AI’s impact on the world, its marketing department has now rebranded AI as ‘Apple Intelligence.’ It’s a feat only the company could pull off. Customers of Macs and the latest iPhones will use it to rewrite emails, transcribe and summarize calls, generate images and cross-reference information from Apple apps.

Read here: Indian stock market ready for a dream run, target Nifty 50 at 25,816, says PL; bullish on Auto, Banks, Defence, FMCG In its High Conviction Picks, Prabhudas Lilladher’s top largecap stock picks include HDFC Bank, ICICI Bank, ITC, Larsen & Toubro, Max Healthcare Institute, Maruti Suzuki, Reliance Industries and Siemens.Here are top largecap stock picks by Prabhudas Lilladher:Prabhudas Lilladher believes replacement of HDFC’s liabilities over FY24-26E should lead to improving margins and better net profit CAGR. It has a ‘Buy’ rating on HDFC Bank shares with a target price of ₹2,000 apiece.The brokerage firm has maintained a ‘Buy’ rating and increased ICICI Bank share price target to ₹1,450 from ₹1,300 earlier.Also Read: Turnaround stocks to 2024: Top 5 shares that are potential multibaggersITC’s cigarette volumes rose 2.1% in Q4FY24 and the broking house expects returns to be driven by cigarette volume numbers and budget outcome in July while FMCG will continue to expand margins by 80 - 100 bps annually.

‘savvy investors’, which makes for a very interesting reading. It plots the net buying/selling carried out by retail investors from 3 June to 6 June. The chart shows that retail investors net sold stocks worth ₹8,588 crore on 3 June, the day the market rallied.

Trent Ltd. traded 0.1 per cent up at Rs 5021.85 at around 12:27PM (IST) on Thursday. The stock had closed at Rs 5027.0 in the previous session. Equity benchmark Sensex traded 266.55 points higher at 76873.12 around the same time.

AMCs have launched 34 thematic/sectoral funds since May 2023, which turns out to be an average of three schemes per month. From 128 such funds in May 2023, the tally went up to 162 in May 2022. During this period, the assets under management (AUM) shot up by 81% to Rs 3,37,280 crore in May 2024 from Rs 1,86,685 crore in the corresponding month of the last financial year. Meanwhile, the number of folios has increased 56% to 2,05,67,662 from 1,32,09,299 in May 2023.

Elon Musk's SpaceX sued the company and Musk on Wednesday, alleging they were «wrongfully fired» for raising concerns about "sexual harassment" and "discrimination" in the workplace, reported the New York Times. The employees were terminated in 2022 after circulating an open letter urging SpaceX executives to condemn Musk's comments on Twitter, later renamed X, which they deemed «a frequent source of distraction and embarrassment.»

Varun Beverages Ltd. traded 0.7 per cent up in Thursday's trade at 12:37PM (IST). Around 29,110 shares changed hands on the counter. The counter opened at Rs 1596.35 and touched an intraday high and low of Rs 1596.35 and Rs 1557.25, respectively, in the session so far. The stock of Varun Beverages Ltd. quoted a 52-week high of Rs 1596.35 and a 52-week low of Rs 754.35.

Fed chief Jerome Powell, gold prices on MCX for August futures contracts were down Rs 481 or 0.67% to trade at Rs 71,489 per 10 grams, while MCX July silver contracts dropped by nearly Rs 2,000 or 2.18% to Rs 88,469 per kg. Gold prices fell after three days of gains as investors reacted to the Federal Reserve's latest signals indicating only one interest-rate cut this year, instead of the three previously forecast.

Vedanta Ltd. fell 0.29 per cent to Rs 442.8 at 12:47PM hours (IST) on Thursday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 280,464 shares with a turnover of Rs 12.45 crore till 12:47PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 39.37, while the price-to-book value ratio stood at 3.29.

Insurance stocks were in buzz on Thursday, rising up to 3% after the Insurance Regulatory and Development Authority of India (IRDAI) significantly increased surrender values for non-linked products in the initial periods affecting insurers such as LIC, HDFC Life Insurance, and Max Life Insurance as they derive up to 52% of FY24 total APE from this segment. Shares of LIC, HDFC Life and SBI Life were up by 0.66% at Rs 1,005, 2.65% at Rs 587.50 and 0.02% at Rs 1,454.65 respectively around 10:30 on BSE today.

Tube Investments of India Ltd. rose 2.12 per cent to Rs 4169.0 in Thursday's trade as of 12:02PM (IST) even as the benchmark Nifty ruled at 23399.6, up 76.65 points. The scrip had closed at Rs 4082.15 in the previous session. The stock quoted a 52-week low of Rs 2729.1 and a high of Rs 4268.4. The company quoted a market-cap of Rs 80049.18 crore on the BSE.