UPS Financial News

3P Land Holdings, Advanced Enzyme Technologies, APL Apollo Tubes, ATV Projects India, Banswara Syntex, Bridge Securities, CCL Products (India), Control Print, Dharani Finance, DJ Mediaprint & Logistics, D-Link (India), Dolphin Offshore Enterprises (India), Gayatri Bioorganics, Gold Coin Health Foods, Gujarat Containers, Hi-Tech Pipes and India Tourism Development Corporation will release their Q4 results today. Jaiprakash Associates, Meghmani Organics, Panchmahal Steel, Progrex Ventures, RAS Resorts & Apart Hotels, Shalimar Agencies, Scan Steels, Sheetal Cool Products, Siyaram Silk Mills, Savita Oil Technologies, TVS Srichakra and Vishwaraj Sugar Industries are also among 29 companies scheduled to post their Q4FY24 earnings on May 11.

money was deposited into your bank account? Be cautious, as this could be a scheme by cybercriminals aiming to take your money. A techie from Bengaluru has recently took to social media to share such an incident. Aditi, a tech entrepreneur based in Bengaluru, shared in a detailed post on X (formerly known as Twitter) how she narrowly avoided falling prey to a new financial scam. The scam involves using deceptive SMS messages to cause confusion and steal money.

Analysts at most top brokerages raised or retained share price targets on State Bank of India after the lender reported strong March quarter results. The stock fell 0.36% to close at ₹816.85. Analysts said the state-owned lender's results, which beat estimates, were driven by better net interest margins (NIM) and other income, but deposit growth was lagging. However, the management guided for loan growth of 13-15%, prompting analysts to raise estimates.

earnings season and blockbuster reports from tech industry titans fueled a U.S. stock market rebound from the first real swoon of 2024. Next week's inflation data could determine whether the good vibes continue. The benchmark S&P 500 index is up over 9% for the year, up near its late-March record high, following a 5% pullback that occurred last month.

optimism around increased industrial usage of the metal have fuelled a rally in the shares of Hindustan Zinc, which surged nearly 19% intra-day Friday to hit a lifetime high of ₹540.95. With Friday's gains, the shares have gained more than a staggering 80% since April, with a rally in zinc prices also contributing to the gains. While the stock remains in a positive momentum, experts are cautioning against buying the stock at current levels, and in fact, recommend taking some profits off the table given that valuations are expensive after the recent gains.

On a warm summer night in 1973, real estate developer Peter Demeter pulled a Mercedes full of visitors into his Mississauga, Ont. driveway after a shopping trip.

The United Auto Workers is aiming for a key victory at Mercedes-Benz in Alabama

Novak Djokovic, who was accidentally hit on the head by a falling water bottle at the Italian Open on Friday, informed that he was “fine" and reassured his fans that he would be playing on Sunday. “Thank you for the messages of concern. This was an accident and I am fine resting at the hotel with an ice pack," Djokovic posted on X.

Federal Reserve officials and looked ahead to crucial inflation data next week. The S&P 500 and the Dow were modestly higher and the Nasdaq ended essentially unchanged. All three indexes were up for the week with the blue-chip Dow nabbing its largest Friday-to-Friday percentage advance since mid-December.

University of Pennsylvania and the Massachusetts Institute of Technology, hours after police tear-gassed demonstrators and took down a similar camp at the University of Arizona. Philadelphia and campus police at Penn took action around daybreak to remove protesters from an encampment in place for more than two weeks. School officials said protesters were given warnings and the chance to leave without being detained.

Zerodha, Motilal Oswal and Kotak Securities have begun seeking self-declarations from clients stating that such positions are taken only against unhedged exposure within the $100 million limit across all foreign exchange contracts stipulated by the Reserve Bank of India (RBI). On 5 January, the RBI said while users could take exchange-traded currency derivatives (ETCD) positions in dollar, yen, euro and pound with rupee as the other pair up to $100 million across all recognized exchanges, without having to establish underlying exposure, the exchanges must inform them that they should be able to establish the existence of a valid underlying exposure which has not been hedged.

In Praise of Shadows, says, “In making for ourselves a place to live, we first spread a parasol to throw a shadow on the earth, and in the pale light of the shadow we put together a house." He goes on to cite the example of Western houses, which he says are built to create as few shadows as possible and “to expose the interior to as much light as possible". Tanizaki’s piece is essential reading on aesthetics and the psychology behind design decisions; many designers and architects swear by it.

North Korea will equip its military with a new 240mm multiple rocket launcher starting this year, state media said Saturday, adding a «significant change» for the army's artillery combat capabilities was under way. Leader Kim Jong Un on Friday oversaw a live-fire test of the «technically updated» rocket system, Pyongyang's official Korean Central News Agency said. The announcement comes as analysts say the nuclear-armed North could be testing and ramping up production of artillery and cruise missiles before sending them to Russia for use in Ukraine.

interstate drug syndicate, the Narcotics Control Bureau (NCB) has arrested two accused at Kalyan Railway Station in Thane and seized from them 3,600 Nitrazepam tablets and 270 bottles of Codeine syrup. According to the NCB, the network has its tentacles spread across multiple states, including Maharashtra, and Karnataka. «In a closely coordinated operation, NCB has successfully delivered yet another cracking blow to the interstate drug syndicate, which has led to the seizure of 3600 Nitrazepam tablets & 270 bottles of Codeine syrup for which two persons, including the local distributor and his key associate, have been arrested,» said Additional Director NCB (Mumbai) Amit Ghawate in a press statement on Friday.

solar storm in more than two decades struck Earth on Friday, triggering spectacular celestial light shows in skies from Tasmania to Britain — and threatening possible disruptions to satellites and power grids as it persists into the weekend. The first of several coronal mass ejections (CMEs) — expulsions of plasma and magnetic fields from the Sun — came just after 1600 GMT, according to the National Oceanic and Atmospheric Administration (NOAA)'s Space Weather Prediction Center. It was later upgraded to an «extreme» geomagnetic storm — the first since the so-called "Halloween Storms" of October 2003 caused blackouts in Sweden and damaged power infrastructure in South Africa. More CMEs are expected to pummel the planet in the coming days.

United Nations General Assembly just before it passed a resolution for supporting full membership of Palestine. The UNGA on Friday voted overwhelmingly for a resolution asking the Security Council to make Palestine, which has UN observer status, a full member. The resolution was passed by a resounding majority of 143 votes in favour including by India while 25 countries abstained, and nine nations, including the United States and Israel, voted against it.

Ecommerce firm Meesho has closed a $275 million funding round through a mix of primary and secondary share sales, two people aware of the matter said. A regulatory filing with the US Securities and Exchange Commission (SEC) also indicated share transfer at Meesho’s US parent firm without offering further details.

saffron supplies from Iran amid increasing geopolitical tensions in West Asia is benefitting Indian producers and traders of the spice, one of the costliest in the world. Prices of Indian saffron, which is cultivated in parts of Jammu and Kashmir, have increased by more than 20% at the wholesale level and about 27% in retail stores in the past month, producers and traders said. The best quality Indian saffron is now selling for Rs 3.5-3.6 lakh a kg in the wholesale market, compared with Rs 2.8-3 lakh before the start of the latest strife in West Asia, they said. It can cost as high as Rs 4.95 lakh a kg in retail, or the price of nearly 70 grams of gold at Friday’s rate of Rs 72,633 for 10 grams.

collaboration deals have been signed by various cricketers amid rising viewership numbers for the ongoing Indian Premier League (IPL) over the last two-three weeks, executives said. A similar number of pacts are in the process of being finalised, they said. Chennai Super Kings star player MS Dhoni has been signed by nutrition startup Explosive Whey, in which he'll also be investing, French carmaker Citroen and Emcure Pharmaceuticals. Appliances maker Philips has collaborated with Virat Kohli for a limited-edition, co-designed beard trimmer. Wearables brand boAt has signed Yashasvi Jaiswal. Shikhar Dhawan has been signed by eyewear start-up QUE as investor and ambassador. Dhoni said the partnership with supplements maker Explosive Whey was «a natural fit» for him. French car maker Citroen, a Stellantis Group brand, is learnt to have signed him for a two-year, ₹7-crore deal. The deal, according to executives, is aimed at improving brand awareness and market share since it's a relatively new entrant.

Chinese smartphone brands are seeing volumes go up once again after falling from a peak in 2020, despite continuing government scrutiny. But their cumulative revenue share is falling amid the strengthening premiumisation trend as iPhones and Samsung devices are favoured by customers at the top end. The cumulative market share of Chinese smartphone brands — Xiaomi, Vivo, Oppo, Realme, Transsion, Motorola — rose to 75% in the March quarter, after hitting a low of 61% in the July-September period, according to Counterpoint Research. This was achieved on the back of a shipment rebound by the top brands such as Xiaomi and Vivo after a few tepid quarters in 2023 due to low demand and inventory bottlenecks, the research firm said. It added that smaller brands such as Motorola and Transsion have also expanded their footprint in the market.

Lightweight jewellery, along with gold and silver coins, accounted for the bulk of the demand on Akshaya Tritiya this year, according to industry executives, as gold prices hovered about 20% higher year-on-year for the day that is considered auspicious to buy gold. Market leader Tanishq said it expects up to 20% year-on-year increase in Akshaya Tritiya sales value, driven primarily by lightweight jewellery priced between ₹50,000 and ₹1 lakh, similar to other jewellers such as Joyalukkas, Senco Gold & Diamonds and Malabar Gold & Diamonds. Quick commerce platforms such as Blinkit, Zepto and Swiggy Instamart also cashed in on the opportunity, delivering gold and silver coins within 10 minutes. Most of them claimed demand was surging but declined to mention absolute or growth figures.