UPS Financial News

Indian regulators are pro-actively driving a dynamic and multifaceted transformation within the real estate sector. A wave of progressive regulatory reforms including implementation of the RERA Act (2016) for enhancing developer responsibility, GST for streamlining taxation, REIT regulations (2014) for paving a new asset class have all helped in fostering accessibility, transparency and stability for discerning investors.

Bibhav Kumar. A reporter posed a question about the episode during Kejriwal’s joint press conference with Samajwadi Party chief Akhilesh Yadav in Lucknow. Bibhav Kumar was reportedly spotted with Arvind Kejriwal at Lucknow airport on Wednesday night.

It’s a measure of the strategic importance of the Indian Ocean Region (IOR) archipelago of the Maldives that India recently chose to host its new foreign minister, Moosa Zameer, despite the hurly-burly of Lok Sabha elections. With the Maldives’ President Mohamed Muizzu-led government already in China’s tight embrace, and the consequent turbulence in bilateral ties, India can ill-afford to cede further space to Beijing.

As a competitive rower in my long-ago prime I sometimes used a racing strategy called fly and die. Sprinting to an early lead often yielded a fast overall time, even if I couldn’t hold my torrid pace through the finish line. Some professionals take a similar approach to their desk jobs, starting their workdays with a 5 a.m.

Cholamandalam Investment & Finance Company Ltd. gained 1.54 per cent to Rs 1250.0 at 11:00AM (IST) in Thursday's trade. The scrip has hit a high of Rs 1252.0 and low of Rs 1232.7 so far during the session. The stock had closed at Rs 1230.95 in the previous session. The counter has had a total traded volume of 10803 shares so far with a value of Rs 1.34 crore on the NSE. It traded at a price-to-earnings multiple of 30.13 and a price-to-book ratio of 4.96.

Aam Aadmi Party's national convenor Arvind Kejriwal continued to maintain his silence on Thursday on the issue around the assault on Rajya Sabha MP Swati Maliwal by his aide. Addressing a press conference with Samajwadi Party's Akhilesh Yadav, Kejriwal seemingly evaded journalists' questions on the Maliwal incident. «There are other important topics as well,» Yadav said, sitting next to Kejriwal. However, AAP's Sanjay Singh said that politics should not be done over the Maliwal incident.

Indian Oil Corporation Ltd. traded 0.55 per cent up at Rs 162.85 at 10:55AM (IST) on Thursday, even as BSE benchmark Sensex dropped 114.83 points to 72872.2. The scrip had settled at Rs 161.95 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 196.8 and Rs 84.8, respectively.

Lupin Ltd.(up 2.1 per cent), Natco Pharma Ltd.(up 1.72 per cent), Torrent Pharmaceuticals Ltd.(up 1.15 per cent), Alkem Laboratories Ltd.(up 0.92 per cent) and Laurus Labs Ltd.(up 0.83 per cent) were among the top gainers.

initial public offering (IPO) of office sharing startup Awfis Space Solutions is set to open for subscription on May 22. The company has fixed a price band of Rs 364-383 apiece for the upcoming share sale. The subscription for the issue will conclude on May 27, with the anchor book opening on May 21. The firm is anticipated to list on stock exchanges on May 30.

«I think healthy correction has already happened at the index level and the broader market level and it will be a great time to kind of start accumulating the companies which have reported good numbers,» says Hemang Jani, Independent Market Expert. A lot of news data points and especially a lot of midcap earnings. We were looking at Mankind Pharma, for instance, and then, of course, the new listing and Akash Bhansali now checking into this one as well, Aadhar housing that is. Just wanted to understand what is it that you are making of some of the news flow this morning? After volatility and turbulence that we have had last two weeks, things are settling down. Numbers, by and large, have been good. Have not really seen any major disappointments. In fact, when I looked at the earnings detail, I think far more number of companies are reporting a much better margin profile versus market expectations, which is great news. Globally, also, things are settling down. In fact, US is making new highs and the CPI print surely will held the sentiment.

SBI FD rate hike: The State Bank of India (SBI) has raised its fixed deposit interest rates for certain tenures on retail deposits (up to ₹2 crore). According to the bank's website, the new FD rates are effective today, May 15, 2024.

One of the biggest worries of elders (above 60), who don’t have the security of a pension, is how to generate regular income for the rest of their lives. The other big problem is to ensure that the portfolio continues to grow (and beat inflation) and increase the portfolio longevity.

Biocon with a target price of Rs 370. The current market price of Biocon Ltd. is Rs 311.55. Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 37404.69 Crore) operating in Pharmaceuticals sector.

Aveek Mitra, Aveksat Financial Advisory, says they have taken out some money and not invested fresh money and are nibbling into areas where they are investing at present based on the sectors that have gone down over the last two-three years. They have also built up most likely scenarios and most unlikely scenarios and based on that will see what best they can do with the cash after the 4th June result. A quick view on the construct of the market because the election is a very big event and if it does not pan out the way the market expects it to, then you will get even juicier bargains. But if it does, what happens then? How are you analysing the overall construct right now? Aveek Mitra: Last year, we generated excellent returns till March 2024. So, we are a bit cautious and we have not put in new money for the last one or two months except bits and pieces here and there and raised the cash a little bit. We are just waiting for that day to pass because that is an uncontrollable, unknowable event for an investor. So, it is like hedging a portfolio.

BEML with a target price of Rs 4004. The current market price of BEML Ltd. is Rs 3782.45. BEML Ltd., incorporated in the year 1964, is a Mid Cap company (having a market cap of Rs 15729.34 Crore) operating in Engineering sector.

Gold prices edged higher on Thursday, supported by a softer dollar and lower Treasury yields after data signalled cooling U.S. inflation, bolstering bets for an interest rate cut by the Federal Reserve.

Office sharing startup Awfis Space Solutions on Thursday announced a price band of Rs 364 to Rs 383 per share for its initial public offering (IPO), which will be launched on May 22. The total size of the offering will be Rs 576 to Rs 599 crore. At the upper end of the price band, this values the company at Rs 2,659 crore (or around $318 million at current exchange rates). Awfis last raised funds in 2022 at a valuation of $110 million.

Indian Americans in elected offices is not reflective of their growing population, US Vice President Kamala Harris said on Wednesday, urging the members of the minority ethnic community to run for elected offices increasingly. Harris, who is of both Indian and African heritage, was speaking at "Desis Decide" — the annual summit of Indian American Impact, a democratic party think tank, that supports and funds Indian Americans running for elected offices across the country. «Over the years, we've had so much more participation by Indian Americans in the electoral process running for office. But the numbers are still not reflective of the size of the growing population,» Harris, the first-ever Indian American, African American, and a woman to be elected as the vice president of the US told a packed room of Indian Americans in the national capital. Currently, there are five elected Indian American members of the Congress — Dr Ami Bera, Raja Krishnamoorthi, Ro Khanna, Pramila Jayapal, and Shri Thanedar. Impact believed that in 2024, the Indian American strength in the Congress will increase to 10 members.

The first month of 2024-25 has been a mixed bag for India’s trade. Exports edged up 1.1% from a year earlier to nearly $35 billion in April, but imports grew faster at 10.3% to $54.1 billion, widening the trade deficit to a four-month high of $19.1 billion. It’s clearly a relief that exports have held up despite geopolitical tensions and trade disruptions globally.

Professional investors with a bullish or bearish conviction on artificial-intelligence stocks and looking to magnify their profits with leverage can now do so with two new exchange-traded funds.

What makes an ideal vacation bag? The foundation, set up as a public charitable trust, has been protecting and preserving this space, and ensuring it remains open to everyone, for 17 years. Since every visitor would not know the names of all the plants, the foundation has planned to introduce ebooks and conducts regular tree-cum-heritage walks to introduce visitors to special specimens as well as to unique heritage structures.