UPS Financial News

Whether it’s another move up or a dive down, traders are bracing for added volatility wrought by Wednesday’s dual macroeconomic catalysts: a report on consumer prices in the morning and the Federal Reserve’s rate decision in the afternoon.

«Look at companies where growth is intact but are trading at reasonable valuations rather than chasing momentum and looking at companies where valuations are elevated,» says Shibani Sircar Kurian, Kotak Mahindra AMC. What part of this nervousness will you attribute to the uncertainty regarding the portfolio allocations at the cabinet level or do you think whoever gets whatever in terms of the various ministries, it does not really change the prospects at company level, at the index level and hence one should completely ignore the noise which is coming in from the political scene right now. Our belief is that now that the elections and the verdict is behind us, it is back to basics and back to fundamentals. So, for India as such and for the markets, if you look at the three factors that were driving markets so far are largely intact.

Patanjali Foods Ltd.(up 5.36%), Heritage Foods Ltd.(up 5.12%), Prataap Snacks Ltd.(up 4.81%), Honasa Consumer Ltd.(up 4.44%), Vadilal Industries Ltd.(up 2.58%), Nakoda Group Of Industries Ltd.(up 2.49%), Dodla Dairy Ltd.(up 2.43%), Nestle India Ltd.(up 1.83%), Varun Beverages Ltd.(up 1.81%) and Gillette India Ltd.(up 1.73%) stood among the top gainers.

Shares of Prestige Estates Projects Ltd.(up 4.57 per cent), Sunteck Realty Ltd.(up 3.32 per cent), Phoenix Mills Ltd.(up 3.17 per cent), Macrotech Developers Ltd.(up 2.9 per cent) and Oberoi Realty Ltd.(up 0.52 per cent) ended the day as top gainers in the pack.

Lada Guruden Singh has stepped down from his role as General Manager, Sony Pictures International Productions (SPIP), India, where he oversaw local production. Singh, who has turned a producer, will continue to work with the studio.

The Fertilisers and Chemicals Travancore Ltd.(up 14.67%), National Fertilizers Ltd.(up 11.69%), Paradeep Phosphates Ltd.(up 9.97%), Nagarjuna Fertilizers and Chemicals Ltd.(up 9.65%), Rashtriya Chemicals & Fertilizers Ltd.(up 8.84%), Madras Fertilizers Ltd.(up 8.66%), Sikko Industries Ltd.(up 8.42%), Southern Petrochemicals Industries Corporation Ltd.(up 8.38%), Zuari Agro Chemicals Ltd.(up 6.45%) and Gujarat State Fertilizer & Chemicals Ltd.(up 6.02%) stood among the top gainers.

₹845. This rally was followed by the company's announcement that it would hold a board meeting on June 14 to consider issuing bonus shares."The meeting of the Board of Directors of the Company will be held on Friday, June 14, 2024, to consider and recommend, interalia, capitalization of reserves by issuing Bonus Shares to the Equity Shareholders of the Company, subject to the approval of the Shareholders," said the company in a filing to the exchanges.Also read: Multibagger Stock: Torrent Power records 240% surge in 17 months, zooms 525% in 5 yearsOver the past year, the company's shares have risen by 61.3 per cent, and in the current calendar year, the stock has surged by 73.5 per cent.

Tyremaker Balkrishna's stock in top gear, but beware the bumps The company will focus on bite-size capital expenditure (capex) and maintaining a double-digit return on capital employed. Previously, Ceat had undertaken multiple capex programmes simultaneously, which made it harder to manage cash flows and debt. Its capex guidance is ₹1,000 crore for FY25 and ₹1,100 crore for FY26, and the company does not feel the need for greenfield capex in the next couple of years.

Baroda BNP Paribas Mutual Fund has launched Baroda BNP Paribas Manufacturing Fund, an open-ended equity scheme predominantly investing in manufacturing themes.

Retail investors bid for 17.6 million shares compared to the 7.9 million shares available, as of 11:42 AM on Monday, BSE data showed. The non-institutional segment subscribed 0.47 times, while the qualified institutional buyers (QIB) are yet to show significant activity.

Samajwadi Party leader Mohd Azam Khan by clearing his name in a case related to loot and indulging in violence by forcing people to vacate their dwellings in Dungarpur area eight years ago. MP-MLA court judge Vijay Kumar cleared Khan and five other accused in the case related to 2016, said Khan's lawyer Jubair Ahmad.

Torrent Power, one of the largest companies in the country’s power sector.In the last four sessions, Torrent Power shares gained nearly 10% after the BJP came to power for the third consecutive time, albeit this time as a coalition government for the first time in ten years. Analysts anticipate policy continuity and ongoing infrastructure investments under the potential third term of Prime Minister Narendra Modi.Also Read: BSE Power records 107% surge in a year, 9 stocks including NTPC, Tata Power jump between 100% and 400% – here's why Investors remain optimistic about the government's focus on enhancing the power sector, a cornerstone of its development agenda.

Rural consumption was hit by inflation and low wage growth, and it was the urban consumers who kept the spending ship afloat. No wonder, the Reserve Bank of India’s consumer confidence index is back at pre-pandemic levels: it is based on an urban survey. But digging deeper into the data made some fault lines apparent.

Motilal Oswal Financial Services (MOFSL) soared 18.7 per cent on Monday on the BSE, hitting a new all-time high of ₹719.95 as the stock began trading ex-bonus from Monday’s session.In May, the financial services company announced a bonus share issue for its shareholders who are eligible in a 1:3 ratio. This means that the shareholders are entitled to receive three bonus or free shares for every share.With Monday's surge, the stock is now up 113 per cent for 2024, marking its best calendar year performance since 2017, when it nearly tripled with gains of 186 per cent.

The Kerala Story may not have had any takers in the southern state but the agenda wrapped in it could gradually resonate with its so-far bipolar electorate, Lok Sabha Election Results 2024 reveal.And that may not be a once-in-a-blue-moon bloom, as the top political fronts–the ruling CPM-led Left Democratic Front and the Opposition Congress-led United Democratic Front—would like to believe.If you dig deep into the poll data, A-Plus seats, where the BJP-led NDA considers the probability of its candidate emerging victorious, have mounted to 20. Of the 140 assembly segments, the NDA led in 11 seats and came second in nine LS constituencies of Thiruvananthapuram, Attingal, Alappuzha, Palakkad and Kasaragod.

Air India chief executive officer and managing director Campbell Wilsonsaid at the CAPA India aviation summit. Sensing an opportunity, several foreign airlines have firmed up plans to approach the government with their requests. “Today we have not exhausted the bilaterals, in terms of number of seats per week but we have hit the limit in terms of number of stations," Sanjiv Kapoor, executive vice-president, strategies of the Saudia Group told Mint.

Tata Steel as its 'top pick of the week'. This is due to reduced costs in Europe, increased capacity in India, lower coking coal prices, and strong operations in India.The brokerage has a ‘buy’ call on the stock with a target price of ₹179, implying a potential upside of 10 percent.Tata Steel Group is one of the world’s largest steel companies with a steel production capacity of 35 mtpa.

FOX Business' Lauren Simonetti reports on the latest market and political news surrounding Target, child care costs and rapper Cardi B.

Marico, one of India’s leading consumer products companies in the hair and wellness market, have shown a strong upward trend since April, rebounding from a steady decline between September 2023 and March 2024.In April, the stock made a robust comeback, ending the month with a 4.18% gain and extending its rally into May with an additional 15% increase. So far this month, shares are up nearly 10%, resulting in a cumulative gain of 31.60% in less than three months, trading at ₹654.60 apiece.

market sentiment and investor confidence in Mufin Green Finance. Mufin Green Finance share price today opened with an upside gap at ₹129 on NSE and soon touched an intraday high of ₹131.34 apiece, logging an intraday gain of 10 percent against the Friday's close of ₹119.40 per share.

Mint takes a look at some of the key policy changes brought in by Nirmala Sitharaman, an influential voice in the new cabinet, during her first five years as FM. Sitharaman is tipped to retain the finance portfolio in the new government. The union budget for FY24 raised the tax-rebate ceiling under the new personal income tax regime from ₹5 lakh to ₹7 lakh, easing the burden on the middle class.