UPS Financial News

₹164.95, a 21 percent premium to issue price of ₹136 on the NSE. Meanwhile, on the BSE, it debuted at ₹165, up 21.32 percent or ₹29 from the IPO price.The ₹130.15 crore initial public offering (IPO) of Kronox Lab Sciences was open for subscription between June 3-5 at a price band in the range of ₹129-136.

Mahanagar Gas with a target price of Rs 1565. The current market price of Mahanagar Gas Ltd. is Rs 1435.55. Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 13641.71 Crore) operating in Gas & Petroleum sector.

Ceat with a target price of Rs 2930. The current market price of Ceat Ltd. is Rs 2543.15. Ceat Ltd., incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 9934.74 Crore) operating in Tyres sector.

Sensex and Nifty50, opened with fresh record highs on Monday, led by index heavyweight Reliance Industries and banking stocks. The BSE Sensex was trading 321 points, or 0.42%, higher at 77,014. The Nifty50 was up 110 points, or 0.47%, trading at 23,400 around 9:19 am. This is the first time that Sensex has hit the 77,000 mark.

global demand remained comparatively muted in 2023 on account of lower consumer consumption and rising inflation in the main markets of Europe and the US. As a result, India’s merchandise exports also took a hit. However, experts now see a gradual revival in global demand because of the 11.86% year-on-year export growth (to $41.4 billion) in February 2024.

Emergency officials in Calgary say it’s still too early to determine when water restrictions will be lifted following a feeder main break in the city’s water system.

Motilal Oswal Financial Services Ltd, suggests that the market will remain volatile but with an upward trend, fueled by revived hopes of a US Federal Reserve rate cut in September and the allocation of key cabinet portfolios in the new Indian government. (Read the full story here.)Sensex Today Live : Indian markets were likely to be weighed down by the muted sentiment flowing from global peers as hopes of a sooner rate cut by the US Federal Reserve faded on the back of better-than-expected labour market data in the US.Notwithstanding the boost in sentiment from the formation of a new Union government in India, Gift Nifty futures was trading at 23,310, marginally ahead of Friday's Nifty 50 close of 23,290, indicating a muted to positive opening for India on Monday.Asian stocks sank on Monday as traders heavily pared back on bets for Federal Reserve rate cuts this year given a still-tight U.S.

There are many ways in which designing a monetary policy differs from drafting a Union budget. The budget is an account of money received and spent, overlaid with plans for how to structure expenditure over the next 12 months—depending on a combination of pressing political exigencies and economic imperatives—and proposals for raising money to meet this spending.

Israel, as hundreds of thousands of Israeli reservists rushed to join the ranks to fight Hamas, Benny Gantz said he felt it was his duty to join the war effort.

Oil prices nudged lower for a second straight session on Monday, weighed down by a firmer dollar as expectations of interest rate cuts were pushed out further following strong U.S. jobs data on Friday. Brent crude futures and U.S. West Texas Intermediate crude futures slipped 4 cents to $79.58 and $75.49 a barrel, respectively, by 0036 GMT.

«Of course, the pocket where we have seen the best combination of growth and value have been private sector banks, that remains a reasonably large allocation for us. Healthcare services remain a decent allocation, both across hospitals, diagnostics, and pharma,» says Pramod Gubbi, Marcellus Investment. How did you manage to kind of tap into this opportunity that the market threw up in terms of making money? What was the action like at Marcellus? We are known for our inaction. We are long-term investors. We rarely react to such events and that has been the case this week as well. We have barely changed any of our portfolio positions. But going into a volatile event, our style of investing and our sort of portfolio which is comprised of strong businesses fundamentally with strong balance sheets, always tend to do better in times of adversity.

Investors will closely watch next week's inflation numbers and Federal Reserve meeting for clues on whether the soft landing hopes that drove stocks to record highs are still justified. This year's rally has lifted the S&P 500 up more than 12% year-to-date, on expectations the Fed can cool inflation without hurting growth. Yet recent economic data have sent conflicting signals: U.S. employment numbers released Friday were far stronger than expected, while earlier reports showed a slowdown in manufacturing and a first-quarter growth rate revised lower.

«FMCG is a default play, you would want to kind of, because many of the staples, etc, have not done anything for many years now. But that said, it is not as if the volume growth will pick up in a big way and overall these are very expensive stocks,» says Anand Tandon, Independent Analyst. What is the view on IT and FMCG? Would you be a buyer in select IT and FMCG? Well, FMCG perhaps more than IT. There is no doubt both of the sectors have been under-owned and have underperformed quite considerably. Right now, I think the market is looking for areas to rotate into given the fact that the sectors that have actually led the rally so far, which has been mostly PSUs and so on may take a breather for a while and therefore, even though there are no great upticks that are likely in IT at least, one is still looking for sectors which have not moved so far.

Asian stocks sank on Monday as traders heavily pared back on bets for Federal Reserve rate cuts this year given a still-tight U.S. labour market, while a snap election call in France sparked wider political concerns and weighed on the euro. Trading was thinned in Asia with Australia, China, Hong Kong and Taiwan out for public holidays, but MSCI's broadest index of Asia-Pacific shares outside Japan still slumped 0.46%.

Narendra Modi and his team of 71 took oath in a grand ceremony at the Rashtrapati Bhavan, the record-equalling Modi 3.0 retained key faces from the outgoing govt while inducting many new ones. All eyes are now on who gets what portfolio.

MUMBAI:Small-cap stocks had a spectacular rally the previous fiscal year, much of it driven by foreign portfolio investors (FPIs) betting on smaller Indian companies even as the surge sparked fears of a bubble caused in part by some murky transactions.In the financial year 2023-24 (FY24), about 35% of the total ₹2.08 trillion of FPI equity investments in India were channeled into the top 100 companies of the BSE Smallcap index, totalling ₹71,631 crore and making up 70% of the overall investment into smallcaps, according to BSE shareholding data analysed by Mint.This influx of investments contributed to both the Nifty Smallcap 250 and the BSE SmallCap index, which comprises 946 companies, outpacing returns from the benchmark Nifty and Sensex indices last year.And while the shareholding data for the first quarter of the current fiscal won't be available before 30 June, the BSE SmallCap has already outperformed the Sensex by over 6% since 1 April 2024, with a return of 9.6%, compared to Sensex returns of 3.6%.However, the rapid rise has not gone unnoticed by regulators. In March, Madhabi Puri Buch, chair of the Securities and Exchange Board of India, warned of “pockets of froth" in the overheated small-cap and mid-cap markets.Mint previously reported (here, here, and here) about the potential involvement of Dubai-based hawala operator Hari Shankar Tibrewala in funnelling illegal proceeds from the Mahadev online betting scandal into Indian small-cap stocks.Nevertheless, the surge of foreign investors into India’s small-cap market has provided a semblance of stability.“FPIs could continue to invest in fundamentally sound small caps which are reasonably valued," said SK Joshi, executive director at Khambatta Securities.

Mint explains: With the advent of 5G, ultra-high speed networks will be used by not only people owing mobile phones but also by internet of things (IoT), devices that will talk to each other, better known as machine-to-machine communication. And sooner rather than later satellite communications will come directly to our phones. With this backdrop, having spare capacity of telecommunication identifier (TI) resources is crucial for meeting any requirement that could come up in the years ahead.

₹45,000 crore in assets, Waterfield is currently India’s largest registered investment adviser. The firm is majority-owned by Rajan but has minority stakes held by the Patni Family Office and Zephyr Management, its overseas partner. Excluding her stake in Waterfield, the bulk of Rajan’s money is in the public markets.

₹4.17 trillion) over the next 10 years to become a true energy company from just a generator of power, according to two people aware of the company's plans. The people said that India's biggest power generation company will spend $5 billion each year over 10 years to foray into production of various clean fuels and also towards increasing its power generation capacity.

Ujjwala scheme, Jal Jeevan mission, Swachh Bharat Abhiyan, and Housing for All initiatives. In Q4, the management of most FMCGs had noted action plans regarding enhancing prospect with distribution expansion." The forecast is in line with the findings of consumer intelligence firm NielsenIQ (NIQ), which reported that rural FMCG demand had outpaced urban markets for the first time in 15 months in the March quarter, although urban shoppers more than made up with increased spending on packaged items.Meanwhile, in their March quarter earnings commentary several large companies maintained a positive outlook on demand for the ongoing fiscal year.

Lok Sabha is likely to have its first sitting soon, the question is who will become protem Speaker. Since this role usually goes to the seniormost MP, the focus was on Virender Kumar of BJP and Kodikunnil Suresh of Congress — the two leaders belonging to the Dalit community, with both in their eighth term. But with Kumar now becoming a minister, will the ruling side let Kodikunnil act as protem Speaker or pick a comparatively junior one from the NDA side for the job?