UPS Financial News

Torrent Pharma on Friday said its board has approved to raise funds up to Rs 5,000 crore for issuance of equity shares. «Recommended to the members to obtain enabling approval for issuance of equity shares including convertible bonds or debentures through Qualified Institutional Placement (QIP) and or any other modes for an amount not exceeding ₹5,000 crore in the upcoming Annual General Meeting (AGM),» the company said in a statement to stock exchanges.

United Spirits Ltd on Friday reported a two-fold increase in consolidated net profit to Rs 241 crore for the March quarter. The company had posted a net profit of Rs 102 crore in the year-ago period, United Spirits Ltd (USL) said in a regulatory filing. Its revenue from operations was up 12.41 per cent to Rs 6,511 crore during the quarter under review from Rs 5,792 crore a year earlier.

You may be saving more money for retirement — and not even know it.

Karnataka Chief Minister Siddaramaiah opened up to the public at an event here on Thursday night, recalling his failed 'love story' due to casteism in society. During an event on inter-caste marriage on the occasion of 'Buddha Poornima', the full moon night when Gautam Buddha was born, the chief minister went on a flashback to his college days. «I wanted to have an inter-caste marriage but it did not happen. The girl did not accept it,» Siddaramaiah said. Elaborating further, he said, «When I was studying I had fallen in love with a girl. Don't mistake me. I had thought of marrying her but her family and also the girl did not agree. Hence, the marriage did not happen.

UK Prime Minister Rishi Sunak's request for dissolving the Parliament and holding fresh General Elections, the UK citizens and parties are gearing up to go to polls sooner than expected. The voters will choose 650 members of the House of Commons, the lower house for a term of five years. The party that commands a majority of seats in the lower house, either alone or in coalition, will form the next government and its leader will be the prime minister. The center-left Labour Party under the leadership of Keir Starmer is considered to be in the strongest position. It will be pitched against the ruling Conservative Party under the command of Rishi Sunak. Polling will be held on July 4.

Uttar Pradesh on Saturday will determine the fate of several high-profile candidates, including former Union Minister Maneka Gandhi, who is contesting on a Bharatiya Janata Party ticket from Sultanpur, one of fourteen seats up for grabs in this phase. Gandhi is aiming for her ninth term in the Lok Sabha, and is up against the Samajwadi Party's Ram Bhual Nishad and the Bahujan Samaj Party's Uday Raj Verma. During a campaign event, Pilibhit MP and Maneka's son, Varun Gandhi, said,«Elections are going on everywhere in the country...but there is only one region in the country where people don't call their MP, Sansad ji, Mantri ji, or by her name, but call her mata ji.»

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As the Qualifier 2 match of IPL between Sunrisers Hyderabad (SRH) and Rajasthan Royals (RR) is scheduled for today at 7:30 pm in Chennai might get affected by a light rainfall in the city. If it happens as forecasted by the Regional Meteorological Department then SRH has a chance to qualify for the finals swiftly. 

Applying for your first credit card is a significant financial milestone. It can help you build your credit history, manage expenses, and even earn rewards. A credit card is a financial tool issued by banks that allows you to borrow interest-free money up to a certain limit to make purchases or withdraw cash. However, you must repay the borrowed amount within a stipulated period, usually with interest, if not paid in full by the due date.

Post office savings schemes: The government revises rates of small savings schemes, including post office plans, every three months. Interest rates were left unchanged for the April-June 2024 quarter for these small savings schemes. Despite no increase in rates of these savings instruments, these post office schemes are still giving better returns than most bank fixed deposits (FDs), especially those by public sector banks.  

An SIP (systematic investment plan) is an alternative method of investing in mutual funds which allows you to contribute a fixed sum on a regular basis, monthly or quarterly. The other one is lump sum investment. An SIP can be started with an amount as low as Rs 100 per month. Like a recurring deposit in banks, the SIP method of investment is hassle-free as your fund house gets your contribution through automated monthly deductions.

Best travel credit cards: It’s summer season, and schools are soon going to be closed for a long-awaited vacation in most parts of the country. During this time of the year, some people plan long holiday stays at their dream destinations, while some go for a quick getaway to the nearest tourist hotspots. Whatever may be your plans, if you have the right credit card with you, it can help you get the best deals and save money. There are hundreds of credit cards that offer exciting travel perks like free lounge access and hotel memberships.

As India’s economy grows, the population of ultra-high-net-worth individuals (UHNWIs) — those with a net worth exceeding $30 million — is projected to surge by 58.4%, from 12,069 in 2022 to 19,119 by 2027. UHNWIs, who often have assets in multiple countries, face intricate financial and family situations. Due to complex asset portfolios and the need for strategic legacy planning, estate planning is becoming particularly crucial for UHNWIs for the following reasons:

STRESA, Italy—The U.S. and its allies are moving toward an agreement on a novel financing plan that would provide Ukraine with up to $50 billion, though Western officials are still working through important details on the use and structure of the funds. The idea relies on the investment returns—mainly interest payments—generated by the roughly $300 billion in Russian sovereign assets that the U.S.

NTPC Q4 Results: NTPC announced its January-March quarter results for fiscal 2023-23 (Q4FY24) on Friday, reporting a drop of two per cent in standalone net profit at ₹5,556.4 crore, compared to ₹5,672.3 crore in the corresponding period last year. The state-owned power generator's revenue from operations in the fourth quarter of FY24 stood at ₹42,532 crore, registering a growth of three per cent compared to ₹41,317 crore in the year-ago period.The PSU's board recommended a final dividend of ₹3.25 per equity share for FY24.

Manchester City will be taking on Manchester United at Wembley Stadium on May 25 in London. The British capital is already reeling under intense summer and will see the temperature go up a couple of notches as football fever has gripped the city. All roads lead to the Wembley stadium. This is a repeat of last year’s Premier League final in which Manchester City beat Manchester United by a margin of 2-1 in the finals to lift the cup. Road to the finals

Walking Dead: Dead City" offers fans an exciting glimpse into the highly anticipated second season while also confirming its release window. Season 2 of «Dead City» picks up the story of Maggie and Negan amidst the dystopian backdrop of New York City, following their daring rescue mission to save Maggie's son, Hershel, from the clutches of the Burazi. However, this heroic act comes with a twist as Negan finds himself entangled with the nefarious group, compelled to assist their leader, the enigmatic Dama, in her quest to dominate the city's fractured communities, as mentioned in a report by Screenrant.

Anand Mahindra is known for backing creative endeavors. On Thursday, the Mahindra Group Chairman revealed that the Mahindra Research Valley’s Chennai team helped the crew of the upcoming Prabhas-starrer ‘Kalki 2898 AD’ come up with a Bujji, a custom-made robotic vehicle. Sharing a teaser that introduced Bujji, a robotic car who is a sidekick of Prabhas’s character Bhairava, the billionaire wrote, “Fun stuff does, indeed, happen on X … We’re so proud of @nagashwin7 and his tribe of filmmakers who aren’t afraid to think big…and I mean REALLY big… Our team in Mahindra Research Valley in Chennai helped the Kalki team realise its vision for a futuristic vehicle by simulating the powertrain configuration, architecture and performance. In fact, the vehicle runs on two Mahindra e-motors powering the rear spherical wheel! And Jayem Automotives put it all together… Let the games begin!”

Manappuram Finance reported a better-than-expected fourth-quarter profit on Friday, helped by strong loan growth at both its gold and non-gold segments. The company's consolidated net profit attributable to owners of parent rose about 36% to 5.62 billion rupees ($67.7 million) for the three months ended March 31, above analysts' expectations of 5.59 billion rupees, according to LSEG data.

Torrent Pharmaceuticals Ltd on Friday reported a 56.45 per cent jump in consolidated net profit to Rs 449 crore in the March quarter, riding on higher revenue. The company had posted a consolidated net profit of Rs 287 crore in the same period of the previous fiscal, Torrent Pharmaceuticals said in a regulatory filing. Consolidated revenue from operations in the fourth quarter of FY24 stood at Rs 2,745 crore as against Rs 2,491 crore in the year-ago period, it added.

automotive supplier Robert Bosch GmbH, reported a 41.5% climb in fourth-quarter profit on Friday, helped by better demand for its automotive products and consumer goods. Net profit rose to 5.65 billion rupees ($67.99 million) in the quarter ended March 31 from 3.99 billion rupees a year earlier for the company, which makes auto parts and accessories for cars, two wheelers and railways among others.