UPS Financial News

—Name withheld on request When it comes to insuring your senior citizen parents, it's crucial to choose the right health insurance plan. Now, you might be considering a family floater plan that covers everyone under a single policy. It sounds convenient, right? Well, not always.

order inflow growth at 31% year-on-year in FY24 was ahead of its 20% growth guidance. This provides robust execution visibility. While order inflows in the March quarter at Rs56,050 crore fell 8% year-on-year, led by a fall in domestic orders due to the ongoing elections, the order book at ₹4.8 trillion was at a record high.

Uttar Pradesh: After a spirited roadshow featuring bulldozers in Mainpuri, the atmosphere at Wednesday's election rally in Aliganj sub-division of Etah district, under Farrukhabad Lok Sabha seat, reached new heights with an electrifying display of bulldozer "break dance." Scheduled to address the rally at DAV Inter College ground in Aliganj, UP CM Yogi Adityanath's arrival was preceded by the arrival of dozens of bulldozers. Amidst lively music, the operators of these heavy machines showcased their skills, performing stunts that enthralled the crowd. As 'Jai Shri Ram' slogans echoed, BJP workers adorned the dozer blades with party flags, adding to the festive atmosphere. With the operators rotating the machines 360 degrees and employing brake and engine thrust to simulate «break dance» steps, the spectacle captivated the audience. However, BJP's Aliganj MLA, Satyapal Singh Rathore, expressed discontent as the crowd seemed more engrossed in the bulldozer dance than the speeches from the stage.

BJP and the Opposition leaders about the reservation and minority quota, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy said 4 per cent of Muslim reservations will remain and that is YSR Congress Party's final word on it. Addressing a public gathering in Kurnool, the CM said, «On one hand, Chandrababu Naidu continues to join hands with the BJP which stands on removing the 4 per cent Muslim reservation, on the other hand, to seek minority votes, he comes up with new drama. Have you witnessed a chameleon-like Chandrababu Naidu? Come what may, 4 per cent of Muslim reservations will remain and that is YSR Congress Party's final word on it. My only question to Chandrababu Naidu is why does he continue the alliance with the NDA even after the NDA government pledges to cancel the 4 per cent reservation?» Commenting on the ongoing Lok Sabha election battle, Reddy said, «In the next 4 days, the battle of Kurukshetra is set to take place. This election is not to elect MLAs and MPs, this election will decide the future of ongoing schemes and the development of every household. If you vote for Chandrababu Naidu, you are stopping all the welfare that this government has brought to the doorstep of the household.»

Shares of TVS Motor Company Ltd.(up 3.36 per cent), Hero MotoCorp Ltd.(up 3.28 per cent), Tata Motors Ltd.(up 1.8 per cent), Tata Motors Ltd.(up 1.71 per cent) and Mahindra & Mahindra Ltd.(up 1.39 per cent) ended the day as top gainers in the pack.

Jewellers are expecting Akshaya Tritiya sales to pick up as the prices of gold have softened a bit from Rs 73,000 per 10 gm level and are currently hovering around Rs 71,650 per 10 gm. Demand for everyday wear diamond jewellery as well as solitaires is also set to pick up, the trade expects.

India is considering offering incentives to encourage private companies to set up lithium processing facilities, as New Delhi tries to develop its nascent lithium mining and boost supplies of the EV battery metal, three government sources said. It would offer incentives to companies to set up lithium processing plants under a new critical minerals policy that was being worked out by the mines ministry, the sources said. «The critical minerals policy will be comprehensive and will cover all aspects from exploration to mining to value addition,» one of the sources said. «It will also cover incentives for beneficiation and refining within the country,» the source said. The sources, however, said it was a little early to know the exact form of incentives the government would offer, but New Delhi would try to take a cue from countries such as Australia and Canada. Responding to Reuters queries, the Ministry of Mines said the government was taking various steps to ensure the availability of critical minerals for the downstream industry. It did not elaborate.

BEFE is creating a strong buzz in the crypto-sphere due to its robust community, unique value proposition, and potential for riding the post-Bitcoin-halving wave. Here’s why BEFE is the next meme coin on the rise:

₹68,373. Sales volume surged 9.6%, driven by a 10.3% increase in motorcycles, which made up 93% of total volumes, with the remainder coming from scooters. Consequently, overall revenue growth stood at 14.6% in Q4, totalling ₹9,519 crore.

₹13.70 per equity share. SBI’s provisions in Q4FY24 came down, while its asset quality also improved. The bank’s credit growth as well as deposit growth during the quarter ended March 2024 remained strong.

Muthoot Finance, and Manappuram Finance - were trading under pressure on Thursday after the Reserve Bank of India (RBI) sent the companies an advisory concerning cash disbursal of loans. The RBI has instructed Non-Banking Financial Companies (NBFCs) to strictly follow the provisions of the Income Tax Act regarding cash disbursement of loans. Specifically, NBFCs are not allowed to disburse loan amounts exceeding ₹20,000 in cash.

Larsen and Toubro on Thursday announced that it was elevating R Shankar Raman as the Preaident of the engineering and construction conglomerate. Post the promotion, Raman will continue to hold the position of the whole-time Director and CFO of the company as well. The company's Senior Executive Vice President (EVP), Energy, Subramanian Sarma has been elevated to whole-time Director and President, Energy.

IPO) of TBO Tek sailed through on the second day of the bidding process, driven by strong interest from retail and non-institutional investors. The issue closes on Friday. The categories reserved for retail and NII investors were fully booked, while that of QIBs was subscribed only 3%.

Congress leader spoke at an election rally in Raebareli, Uttar Pradesh, where Rahul Gandhi competes in the general elections. Priyanka Gandhi harped upon the BJP and Prime Minister Narendra Modi's much-used terminology, 'Atmanirbhar Bharat,' and said that voters would choose employment over the "5kg ration" the BJP government promises them.

Asian Paints Q4 Results: Asian Paints announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Thursday, May 9, reporting a rise of 1.3 per cent in its net profit at ₹1,275 crore, compared to ₹1,258.4 crore in the corresponding period last year. The revenue from operations in the fourth quarter of FY24 dropped marginally by 0.6 per cent to ₹8,730.8 crore compared to ₹8,787.3 crore in the year ago period.

Also Read: Why is Indian stock market falling for five straight sessions? Amid this backdrop, the Nifty PSU Bank index saw a significant decline of 6.30% in a week, falling from 7,600 points to the current trading level of 7,108 points. Notably, stocks like Punjab National Bank and Canara Bank experienced the most substantial fall during this period, losing 12% and 11.4% of their value, respectively.

Amazon has introduced the Fire TV Stick 4K in India, offering fast-streaming of cinematic 4K content with Ultra HD picture quality, Dolby Vision, HDR10+, and Dolby Atmos audio. The Fire TV Stick 4K, priced at Rs 5,999, is touted to be the most powerful Fire TV device in India, boasting nearly 30% more power than its previous generations. “Our viewers’ preference is shifting to watching lifelike, ultra-cinematic video content from the comfort of their homes. Customers seek streaming options that offer fast performance, superior picture and audio quality, smart features, immersive graphics for games, and so much more," said Anish Unnikrishnan, General Manager for Amazon Devices India.

Delhi Traffic Police notices/challans will get a one-time opportunity to settle it with some reduction or complete waiver. Delhi State Legal Services Authority in coordination with Delhi Traffic Police is organising a National Lok Adalat on May 11, 2024, to settle a large number of pending claims. In this type of special court (Adalat), you can present pending payment of Delhi Traffic Police challans/notices and either get it settled at a lower amount or dismiss it. As per a social media post by Delhi Traffic Police, National Lok Adalat will take up cases including the settlement of compoundable traffic challans (applicable for commercial vehicles as well) that have been pending on the Delhi Traffic Police portal till January 31, 2024. According to IPS Hargobinder Singh Dhaliwal, special commissioner of police Zone 2, Delhi Traffic Police, «The initiative of Lok Adalat has proven instrumental in providing a more accessible avenue for individuals to address their pending traffic challans and associated legal matters. By offering a streamlined and informal process, it not only eases the burden on the traditional legal system but also expedites the resolution process for those involved in traffic violations.»

T20 World Cup will spread much-needed cricket awareness in the USA but eventually, it is the lure of competing in the 2028 Los Angeles Olympics that will attract local Americans to the game that is mainly played by expats, feels USA Cricket chairman Venu Pisike. USA is co-hosting the event alongside West Indies and the US team will also be making its World Cup debut when it faces neighbours Canada in the tournament-opener on June 1. The team is mainly made up of semi-professional cricketers of South Asian heritage with former New Zealand star Corey Anderson also switching allegiance to his adopted homeland of USA. Former Indian first-class cricketer Milind Kumar and former India U-19 player Harmeet Singh are also part of the squad. Speaking to PTI, Pisike agreed it is a major challenge to take cricket to the masses in USA.

United Spirits Ltd. dropped 2.62 per cent to Rs 1204.6 at 01:43PM (IST) in Thursday's trade. The stock hit a high of Rs 1244.95 and low of Rs 1200.05 so far during the session. The stock had closed at Rs 1237.05 in the previous session. The counter had a total traded volume of 01:43PM shares so far with a turnover of Rs 1.68 crore on BSE. The stock traded at a price-to-earnings multiple of 68.31 and a price-to-book ratio of 9.17.

The firm said its offer of $1.25 per SONG share, which values the trust at around $1.51bn, is «final and will not be increased». Blackstone ups offer for Hipgnosis Songs Fund to $1.57bn Concord's decision follows an increased bid by Blackstone of $1.3 per SONG share, valuing the fund at more than $1.57bn, on 29 April – a 4% increase from Concord's revised offer. At the time, SONG's directors said they would unanimously recommend Blackstone's counteroffer to shareholders, urging them to vote in its favour at the requisite court and general meetings. A date for the meetings is yet...