UPS Financial News

«I think RBI has been building up the forex reserves which are essentially being invested in securities which are overseas sovereign securities. The bond yields generally have gone up. In US bond yields have remained in the range of about 4% to 4.5%, even up to 5% on a short-term has gone up to 5%,» says A Balasubramanian, MD & CEO, ABSL AMC. It is like a good birthday gift the economy has got. Nobody was expecting such a big fat dividend from RBI. And at least one lakh crore is something which has come as a surprise number. I mean 70,000, 80,000 crore is something which was anticipated and expected. Maybe one lakh crore was expected. But 2,10,000 crore, nobody was expecting. Why do you think Reserve Bank of India has given this dividend? I mean, what has changed on their balance sheet which has in a sense, prompted them to be so generous with the dividend payout? I think as you rightly put it, the average dividend declaration that used to happen every year somewhere in the range of about 65,000 to 80,000 crores numbers. And these are, of course, numbers, one, it came as a big surprise and second, there are reasons as well for that.

In its annual results published today (23 May), the firm reported a rise in funds under management of 5.5% for its South Africa operation to £20.9bn. In the UK, Investec Wealth & Investment is now part of the Rathbones Group, following completion of the merger in September 2023. Rathbones/IW&I UK funds under management stood at £107.6bn as of the end of March 2024, up from £40.7bn a year prior. Investec owns 41.25% of Rathbones. Rathbones and Investec W&I complete merger to create £100bn wealth manager The company also revealed it has set aside a provision of £30m for the «poten...

trading session, the following five stocks witnessed a build of fresh short positions. Let’s first understand how this conclusion is reached whether the stock has seen a buildup of fresh short position or not. To understand it we have to look at what “short selling” means. When a trader is expecting the stock prices to fall, he may sell the stock without owning that and buy at a lower price, for example, stock XYZ is trading at 100, a trader sells the stocks at Rs 100 and buys it back at Rs 90. He made a profit of Rs 10. Selling the stocks without owing the underlying stock is called short selling.

Page Industries Ltd. rose 1.53 per cent to Rs 35747.0 in Thursday's trade. It hit an intraday high of Rs 36500.05 and low of Rs 35640.05, respectively, during the day. The stock quoted a 52-week high price of Rs 42850.0 and low of Rs 33100.0.

Havells India Ltd. gained 0.26 per cent to Rs 1848.1 in Thursday's trade. It hit a high of Rs 1855.25 and low of Rs 1823.2 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 1414.81, while the 50-DMA was at Rs 1594.25. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

MG Motor India on Thursday said it has signed an initial pact to deliver 3,000 EVs to integrated fleet electrification platform Vertelo in a phased manner. Both the entities have signed a memorandum of understanding to this effect. The partnership will focus on providing sustainable mobility solutions to riders and will also work towards establishing a robust EV charging infrastructure in the country, MG Motor India said in a statement.

Maneka Gandhi, BJP candidate and sitting MP from Sultanpur, emphasized her primary concern for her son Varun Gandhi’s happiness amidst ongoing political speculations. Varun Gandhi, who has been seen as distancing himself from the BJP since 2019, was notably absent from the BJP ticket list for the 2024 Lok Sabha elections. I just want to see him (Varun Gandhi) happy: Maneka Gandhi Addressing the media, Maneka Gandhi said, «I just want to see him (Varun Gandhi) happy, and what more can one ask from life.» She clarified Varun's absence from the Pilibhit constituency race, a seat he has held three times, stating his commitment to supporting her campaign in Sultanpur.

SBI Cards and Payment Services Ltd. rose 0.6 per cent to Rs 712.25 in Thursday's trade as of 12:22PM (IST) even as the benchmark Nifty ruled at 22769.6, up 171.8 points. The scrip had closed at Rs 708.0 in the previous session. The stock quoted a 52-week low of Rs 678.8 and a high of Rs 932.35. The company quoted a market-cap of Rs 67447.44 crore on the BSE.

murder" of Bangladesh MP Anwarul Azim Anar revealed that one of his friends had paid around Rs 5 crore to kill the neighbouring country's parliamentarian, a senior police officer said here on Thursday. Anar, who went missing in Kolkata since May 13, was found murdered and three people have been arrested, Bangladesh Home Minister Asaduzzaman Khan had said on Wednesday. The West Bengal Police had said investigation of the case has been taken up by the state CID. «It was a well-planned murder. A huge amount of money, around Rs 5 crore was paid by an old friend of the MP to kill him,» the officer told PTI.

Crompton Greaves Consumer Electricals Ltd. gained 0.32 per cent to Rs 390.45 in Thursday's trade as of 12:27PM (IST). The stock hit a high price of Rs 391.75 and low of Rs 386.15 during the session.

Pidilite Industries Ltd. slipped 0.99 per cent to Rs 2979.85 in Thursday's trade as of 12:16PM (IST). The stock hit a high price of Rs 3027.15 and low of Rs 2970.05 during the session.

Opposition parties have been critical, of course, about the Bharatiya Janata Party and Prime Minister Narendra Modi for the recent electoral discourse, which they say is 'communal and polarising'. Yet, India’s top leader remains unfettered. The BJP stalwart believes he is merely showing the INDIA bloc a mirror. In an interview with The Economic Times, PM Modi spurned the allegations of the 2024 Lok Sabha campaign turning communal, polarising. «Perhaps, you find it polarising because you have not examined the crux of the matter. What is truly communal and polarising is the Congress party’s manifesto, their issues and their intent. It is my duty to expose them. Just because I am exposing them, you think it is polarising,» Modi said.

Mint takes a closer look at the rules in the UK and the US. One cannot access pension funds before the retirement age. It has to be either transferred to Qualified Recognised Overseas Pension Scheme (QROPS) in India or one can continue holding it till retirement in the UK.

Also Read: Awfis Space Solutions IPO opens today. Check GMP, subscription status, should you subscribeThe initial public offer of co-working space operator got booked 2.03 times on the first day of bidding led by the retail portion.

Uttarakhand BJP has lodged a police complaint against the Aam Aadmi Party, accusing it of tarnishing the image of Chief Minister Pushkar Singh Dhami and the party by posting an edited video of him on social media. On the complaint of Pradesh BJP IT cell co-convenor Praveen Lekhwar, an FIR was filed at the Dalanwala Police Station in Dehradun in the matter on Wednesday, state BJP media in-charge Manveer Chauhan said. Click here to participate in our Lok Sabha Elections Survey to gauge the mood of the nation A video of Dhami was tampered with and circulated on Instagram by AAP's social media cell as part of a conspiracy to tarnish the image of Dhami and the BJP, Lekhwar alleged in his complaint.

GAIL (India) Ltd. traded 0.32 per cent up in Thursday's trade at 11:16AM (IST). Around 724,870 shares changed hands on the counter. The scrip opened at Rs 202.35 and touched an intraday high and low of Rs 203.25 and Rs 199.55, respectively, in the session so far. Shares of the company of GAIL (India) Ltd. quoted a 52-week high of Rs 213.7 and a 52-week low of Rs 103.2.

Tata Power Company Ltd. traded 0.2 per cent down at Rs 446.7 on Thursday at around 11:26AM (IST), while the benchmark BSE Sensex advanced 359.09 points to 74580.15. As many as 284,369 shares changed hands on the counter with a total value of Rs 12.77 crore.

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Sikko Industries Ltd.(up 8.29%), Krishana Phoschem Ltd.(up 2.10%), Aries Agro Ltd.(up 1.54%), Madhya Bharat Agro Products Ltd.(up 0.88%), Mangalore Chemicals & Fertilizers Ltd.(up 0.81%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.59%) and Zuari Agro Chemicals Ltd.(up 0.38%) were among the top gainers.

services and expansion of new export orders led to India’s private sector activity picking up in May, recording the third strongest increase since July 2010, according to the preliminary results of a private survey released Thursday. The HSBC Flash India Composite Output Index rose to 61.7 in May compared with 61.5 in the previous month. “The latest data showed strength in new export orders for both sectors, which rose at the fastest pace since the series started in September 2014,” said Pranjul Bhandari, chief India economist, HSBC.

Domestic benchmark index NSE Nifty gained 99.25 points to 22697.05, while the BSE Sensex traded 349.39 points up at 74570.45.