UPS Financial News

Subscribe to enjoy similar stories. On Saturday, the government converted ₹36,950 crore overdue spectrum charges from Vodafone Idea Ltd into equity, becoming the biggest shareholder in India’s third-largest telecom operator with a 49% stake. The original promoters of Vi, Aditya Birla group and British telecom company Vodafone Plc., will own a 25.7% minority stake but will continue to be classified as its promoters.

Subscribe to enjoy similar stories. India’s investment report card received a significant boost from high-cost government projects in the March-ended quarter, providing a potential last-minute push after a slow year, even as private sector appetite remained subdued. However, despite the upbeat performance in the final quarter, the momentum was not enough to shift the overall sentiment for the full year.

Subscribe to enjoy similar stories. Mumbai: In 1983, a teenaged Salman Khan boarded a yacht off the Andaman Islands with a group of young, happening folks and a red icebox filled with chilled glass bottles of Campa Cola. They pitch tents on a pristine beach, chanting ‘Campa Cola’ to an electric guitar.

Subscribe to enjoy similar stories. A group of technology companies is investing in a new form of carbon capture that aims to cut emissions from household waste in an effort to reduce landfill usage and to lower the amount of greenhouse gas emissions that are emitted into the atmosphere. Frontier, an umbrella group of tech companies including payments firm Stripe, internet giant Google and Instagram parent Meta is investing just under $32 million in a carbon-capture-and-storage project in Norway in the hope of removing 100,000 metric tons of carbon from the atmosphere between 2029 and 2030.

President Donald Trump is expected to unveil sweeping tariffs on major trading partners on Wednesday (2 April) in what he is calling ‘Liberation Day', with the president warning reporters last week that tariff plans «would start with all countries, so let us see what happens».  Goldman Sachs economists Ronnie Walker, Alec Phillips and David Mericle have consequently hiked the 12-month recession probability to 35%, up from their previous 20% estimate.  The Big Question: Can Donald Trump's stance on tariffs work alongside US stock market growth? According to the Goldman trio, their p...

Subscribe to enjoy similar stories. It is unreasonable to expect developing countries to commit to costly climate mitigation strategies when the only reason developed nations are where they are is that they used cheap polluting technologies to get there. Having said that, global warming is real, and unless all countries commit to a more climate-friendly approach, we will have no hope of fighting it.

National Highways Authority of India (NHAI) has hiked the toll charges by an average of 4-5% on tolled highway stretches across the country. The revised toll charges will be effective from April 1, 2025. Toll revision is an annual exercise and is linked to the changes in the wholesale price index based inflation. Every year, it is implemented from April 1. There are around 855 user fee plazas on national highway network on which user fee is levied as per National Highways Fee (Determination of Rates and Collection) Rules, 2008. Out of these, around 675 are public-funded fee plazas and 180 are concessionaire-operated toll plazas. The revised rates will affect the commuters of key routes across the country including Delhi-Meerut Expressway, Eastern Peripheral Expressway, Delhi-Jaipur highway among others. With average monthly collection of around Rs 6000 crore and 350 million monthly toll users, the NHAI is expected to garner nearly Rs 70,000 crore in toll collection in FY ’2024-25.

Supreme Court of India on Tuesday indicated that it would consider a petition filed by Ranveer Allahbadia, a popular YouTuber and entrepreneur, seeking the release of his passport. The top court, however, added that it would take up the matter after two weeks, in light of the ongoing investigation into the case. Allahbadia had approached the Supreme Court requesting a modification of the condition imposed on him, which required him to deposit his passport with authorities. His legal team argued that the condition was affecting his livelihood and professional commitments, as he frequently travels for business and work-related purposes. In response to Allahbadia’s plea, Solicitor General Tushar Mehta informed the apex court that the investigation in the case involving Allahbadia was likely to be completed within two weeks. He further stated that the authorities were actively working on the case, which has raised several concerns in the media.

Subscribe to enjoy similar stories. Gold’s latest quarterly gains now seriously rival the rise seen in 1986, the year of the Chernobyl disaster. The comparison is powerful, yet it pales against the performance of gold miners, which could keep gaining, acording to Wall Street analysts.

India and Chile on Tuesday decided to start negotiations on a mutually beneficial comprehensive economic partnership agreement as Prime Minister Narendra Modi hosted Chilean President Gabriel Boric Font for wide-ranging talks focusing on boosting bilateral ties in diverse areas. Boric is on a five-day state visit to India to explore ways to shore up bilateral cooperation in a number of areas, including trade and defence. «Today, we have directed our teams to begin discussions on a mutually beneficial comprehensive economic partnership agreement,» Modi said in his media statement after the talks. Partnership in the field of critical minerals will be explored, he said. The prime minister said work will also be done to establish resilient supply and value chains.

IPO comprises a fresh issue of equity shares aggregating up to Rs 500 crore and an offer for sale (OFS) valued at Rs 1,500 crore, according to the Draft Red Herring Prospectus (DRHP) filed on March 30. The OFS comprises sale of shares worth Rs 1,430 crore by promoter Kamlesh Jain and Rs 70 crore by shareholder Mayank Pareek.

— Should one write off this rally as just a dead-cat bounce, or see it as a serious rebound?

domestic passenger vehicles sales at 48,048 units in March, as compared to 40,631 units in the same month last year. For the fiscal 2024-25, the total domestic passenger vehicles (PV) sales were at 5,51,487 units, as against 4,59,877 units in 2023-24, a growth of 20 per cent, Mahindra & Mahindra (M&M) said in a statement. The company said its overall PV sales in March was at 50,835 units, including exports. The domestic sales for commercial vehicles stood at 23,951 units last month, it added.

Kalpraj Dharamshi, Veteran Investor in conversation with Ravi Dharamshi, CIO, ValueQuest Investment. Kalpraj says to keep up with Rakesh Jhunjhunwala, one had to eat, breathe, and live in the markets. He did not suffer fools gladly. He could attack one’s opinions viciously and one had to be able to stand one’s ground. He did not like yes-men around him and till the end, there were no yes-men around him. Kalpraj says Radhakishan Damani is a rarest of rare gems. He has been a successful speculator on the long side as well as on the short side. He figured out all the concepts of investing which we read about from Warren and Charlie and all these Peter Lynch's of the world and in a very desi earthy way. Ravi Dharamshi: How was the market when you joined back in the 1980s? Kalpraj Dharamshi: I joined the market in mid-80s, late 80s, the market. There was only one exchange, which worked for two hours. There was only one index, which was the Sensex. And the day I joined, the Sensex was around 550 or something. As soon as I joined, there was a bear market. VP Singh came out with the Budget and from February of 1986 to the end of 1987, we had a bear market and the Sensex went down to 390.

finished steel imports during the first 11 months of the financial year, which began in April, stood at 8.98 million metric tons, marking a 15.8% year-on-year increase, according to provisional government data reviewed by Reuters on Tuesday. India, the world's second-biggest crude steel producer, became a net importer in 2023/24, a trend that has continued with rising shipments from China, South Korea and Japan. Last month, India recommended a 12% temporary tax on certain steel products for 200 days, known as a safeguard duty, in an attempt to curb imports. South Korea was the biggest exporter of the alloy to India during April-February, with shipments reaching 2.6 million metric tons, up 7.1% year-on-year, the data showed. Finished steel imports from China totalled 2.4 million metric tons, down 5.3% year-on-year, while imports from Japan reached 1.9 million metric tons, marking a nearly 70% year-on-year increase, the data showed.

In the letter, the co-founder addressed the changing and ever demanding state of global markets and economics up top, stating that from virtually «every client, nearly every leader – nearly every person – I talk to, they are more anxious about the economy than any time in recent memory». The Big Question: How are you managing concentration risk? His words come just days before US President Donald Trump is set to enact a swathe of currently unknown tariffs, adding to the long list he has already brought out against his country's major trading rivals and allies. Th policies have swep...

Subscribe to enjoy similar stories. US equity indices have been in the red for the past month as recession fears take centre-stage. Add to that the US President’s steep spending cuts and tariff hikes and it’s no wonder investors are getting jittery, preferring to shift their stock bets to other countries.

An atmospheric river is bringing a significant amount of moisture from the tropics, fueling a low-pressure system and potentially causing flooding and slips. Buller and Tasman districts in the South Island could receive a month's worth of rain in 48 hours. The heavy rain is expected to impact the western and northern regions of both islands. MetService and NIWA have advised residents to clear drains, avoid low-lying areas, and drive cautiously. The warning have been issued for the Westland District ranges, Buller district, Tasman northwest of Motueka, Nelson Lakes, Bryant Range, Rai Valley, and Marlborough ranges northwest of the inland Kaikoura Range. “Many areas probably in these regions seeing a couple of hundred millimetres or more of rain over 48 hours, so yeah this’ll be some pretty beefy rain for that region.” The rain is expected to move up over the North Island later in the week," said NIWA principal scientist Chris Brandolino.

The Atlantic magazine being inadvertently added to a private group chat with high-level officials of the Donald Trump administration. The officials, including Defence Secretary Pete Hegseth and National Security Advisor Mike Waltz, were discussing a strike on Yemen in bare bones detail on the chat, revealing crucial operational details. The media blitz around the scandal has driven people to download the app for the first time.

Khaitan Chemicals & Fertilizers Ltd.(up 5.47%), Rama Phosphates Ltd.(up 4.22%), Paradeep Phosphates Ltd.(up 3.88%), Krishana Phoschem Ltd.(up 3.62%), Agro Phos India Ltd.(up 3.18%), Madras Fertilizers Ltd.(up 3.02%), Southern Petrochemicals Industries Corporation Ltd.(up 2.25%), Zuari Agro Chemicals Ltd.(up 2.23%), Madhya Bharat Agro Products Ltd.(up 2.18%) and Gujarat State Fertilizer & Chemicals Ltd.(up 1.92%) were among the top gainers.

Lightmatter, a startup valued at $4.4 billion, on Monday released two pieces of technology aimed at speeding up the connections between artificial intelligence chips. Instead of moving information between computer chips as electrical signals, Lightmatter's technology uses optical connections and what are known as silicon photonics to move the information using light. Mountain View, California-based Lightmatter has raised $850 million in venture funding to date as such optical technologies have kicked off a wave of investments in Silicon Valley amid a search for better ways to string together chips to power chatbots, image generators and other AI applications.