UPS Financial News

Mahesh Patil, CIO, Aditya Birla Sun Life AMC, says the market has a tendency to continue with its inherent trajectory based on fundamentals. “Hence, we would not try to time election outcomes and rather focus on stock picking while reducing risk in the portfolio to navigate the volatility due to election outcomes,” he says. Edited excerpts from a chat:

Brij Bhushan Sharan Singh in the national capital, the situation is a far cry from that in Kaiserganj, where the former Wrestling Federation of India president is still viewed as a diety. «Hamare maalik, hamare bhagwan, mananiya saansad Brij Bhushan Sharan Singh ko janmdin ki shubhkamnayein’ — Nivedak, ‘saansad bhakt’ Samrat Gupta. (Heartfelt birthday wishes to our master, our god, honourable MP Brij Bhushan Sharan Singh — from a devotee, Samrat Gupta),» reads a poster in the Paska Bazaar area, according to a Times of India report. Singh stronghold A six-time Member of Parliament, 67-year-old Singh has been accused of sexual harassment by wrestlers following a long period of protest against him. Earlier this month, a Delhi court ordered that charges be levied against him, marking a big moment in the wrestlers' fight to be heard.

New Delhi: India is looking to fortify its imports of LNG, a crucial ingredient in industrial applications and partly in transportation, through long-term contracts with overseas exporters. This week, state-run Indian Oil Corporation Ltd signed a long-term contract with French energy giant TotalEnergies in France for supply of LNG (liquefied natural gas), two people aware of the development said. Under the contract, TotalEnergies would supply 1 million metric tonne per annum (mmtpa) of LNG to IOCL for a period of around 10 years.

₹1,800 crore) in 2025 from only $15.44 million in 2017, registering a growth rate of 39.79%. UNLOCK CONVENIENCE At their core, smart locks do not enhance security compared to mechanical locks, but they add a layer of convenience that in turn, leads to better access control and raises the security posture. Arindam Paul, chief business officer at Atomberg, an Indian company which manufacturers and retails smart locks, says, “Some people feel smart locks are safer than traditional locks as they can remotely monitor and track every entry and exit." Smart locks make it easy to get in and out without the need to juggle keys or have someone lock/unlock the door.

The price change in 24 carat gold in the last one week has been -0.19% .whereas in the last month it has been 0.65%. The cost of silver is Rs.86460.0 per kg up by Rs.60.0 per kg. Gold Price Today in Delhi is ₹75731.0/10 grams.

Balkrishna Industries share price were locked in 5% upper circuit and touched 52-week high following strong Q4 results. The company's profit after tax (PAT) for the quarter ended March (Q4FY24), jumped 88% year-on-year to ₹481 crore from ₹256 crore. Sequentially, the PAT grew 56%, as per the exchange filing.

Bring out your designer sunglasses, because this show is about Korea’s super rich. About men who flash their black cards to buy an apartment that costs 991,442,000.00 rupees (16 Billion Won). About a woman who will do anything to get that front row seat at the Paris Fashion Week. About limited edition designer bags, watches, clothes that’s hollower than a show called Dubai Bling which showed up on Netflix a while ago.

«If you just go over the last six months, one year, two years, three, five, it is very consistent that India and the US, these are the only two parts of the world which actually have growth and you have momentum in the markets,» says Ashi Anand, Founder & CEO, IME Capital .

rebound that has taken the U.S. stock market to record highs this week may have further to run, if history is any guide. Fresh signs of a cooling economy calmed inflation worries in May, helping all three major U.S. stock indexes rise to records this week. The benchmark S&P 500, which fell over 4% in April, is now up 11% year-to-date.

global markets, the Indian stock market on Saturday opened on a positive note with Sensex reclaiming the 74,000 level and Nifty crossing the 22,500 mark. Volumes are expected to be low in the market on Saturday as it is a special trading day as part of a disaster recovery exercise. The session is divided into two parts — from 09:15 am to 10 am and 11:45 am-12:40 pm.

elections, the primary market continues to remain vibrant with the public offer of Awfis Space Solutions set to open next week. Apart from the sole mainboard IPO, one other SME issue of GSM Foils will be launched on May 24. Apart from the new issues, D-Street will see as many as 8 listings including that of the Go Digit General Insurance, which opened for subscription in the week gone by and generated significant enthusiasm among investors, reflecting the broader positive market sentiment.

While thefocus for the moment is — rightly, on the long working hours of juniors investment banking divisions after the death of Leo Lukenas (whom Bank of America says didn't work long hours, but whom a headhunter now says was seeking to find a new job for that very reason), there were reminders yesterday that young bankers aren't alone in being expected to grind. 

Jain Global, the hedge fund founded by Bobby Jain, the former co-chief investment officer at Millennium, is finally launching in July. 

If UBS had concerns about theintegration of Credit Suisse earlier this week, it may have even bigger concerns as we slide towards the weekend: the woman running its group integration office is understood to have resigned unexpectedly.

If you want to work for afamily office that was previously a hedge fund and that’s run by a mysterious figure from Preston in Lancashire who’s kind to his mother, then good news: Mike Platt is hiring at BlueCrest. The Financial Times reported earlier this month that Platt intends to hire 30 portfolio managers, to add to the 170 “pods” it has already. The new hires, some of whom are already in process, will reportedly focus on areas like macro, commodities and systematic strategies. 

One of the most annoying things that can ever happen to a banker is to suspect, halfway through an interview process, that the decision has already been made and you are just being put through the hoops.  Consequently, although the search consultants retained by HSBC to find a replacement for Noel Quinn are being asked to consider external candidates “to benchmark” the merits of Nuno Rato and George Elhedery, they might find it difficult to persuade many senior global bankers that it’s worth their while to update a resume.

It’s always a question worth asking yourself when you take on a project with a defined end date or completion condition – what’s my endgame here?  When I finish the project, what will happen to me? There are all too many sad stories of bankers who worked allhours to achieve a goal, then found out that once the thing was done, they weren’t needed any more.  Conversely, there are plenty of cases where getting a deal across the line created so much tension and bad blood that it was impossible for the executives involved to go on working together.

It's a new era at Citigroup. Five layers of unnecessary management have been cut, and so too — as of today — have surplus executive assistants.

As banks compete hard for work in the Middle East, Dubai is emerging as one of the most grueling places to work. Juniors at Rothschild, which is expanding in the UAE, claim they are being driven to the point of exhaustion.

As we noted a few weeks ago, Eisler Capital the self-proclaimed «intellectually honest hedge fund» that's on a hiring spree is having some issues with a headhunting firm, which says it's owed £389k ($492k) after placing a portfolio manager there. 

Stefano Murdaca might have been expected to stay at Barclays. Since joining the British bank as a summer intern five years ago, sources say he'd distinguished himself and was seen as up-and-coming talent on the European government bond (EGB) trading desk.