UPS Financial News

Bajaj Finance share price fell almost 6 per cent on Friday, April 26, a day the company released its Q4 result. Bajaj Finance share price opened at ₹7,008.60 against its previous close of ₹7,293.90 and soon fell as much as 5.8 per cent to the level of ₹6,872.55 on BSE.

₹3,825 crore, up from ₹3,158 crore in the same period last year. The consolidated figures encompass the operations of its subsidiaries, Bajaj Housing Finance and Bajaj Financial Securities.On an individual basis, the net interest income for Q4FY24 surged by 29% to ₹7,340 crore from ₹5,669 crore in Q4FY23. The net total income on a standalone basis for Q4FY24 increased by 25% to ₹8,904 crore from ₹7,105 crore in Q4FY23.As of March 31, 2024, the gross non-performing assets (NPA) were reported at 0.85%, a decrease from 0.94% in the same period last year.

polling booths across the state to avoid the anticipated hot weather later in the day. Long lines of voters were visible outside polling stations in every Lok Sabha constituency in Kerala. As voting began, there were reports of EVM malfunctions in several booths statewide, causing delays in the election process in those areas. However, the faulty machines were promptly replaced, and voting proceeded smoothly thereafter. The polling process took place under heavy security, with over 66,000 security personnel deployed and live monitoring of the election through an extensive webcasting system.

Macrotech Developers Ltd. with a target price of Rs 1415. The current market price of Macrotech Developers is Rs 1199.55. Macrotech Developers Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 124477.35 Crore) operating in Real Estate sector.

HDFC Bank, Reliance Industries and IT stocks. The BSE Sensex was trading 87 points or 0.12% higher at 74,424. Nifty50 was trading at 22,598, up 28 points or 0.12% at around 9.23 am.

Dalmia Bharat with a target price of Rs 2300. The current market price of Dalmia Bharat Ltd. is Rs 1815.8. Dalmia Bharat Ltd., incorporated in the year 2013, is a Mid Cap company (having a market cap of Rs 36744.33 Crore) operating in Cement sector.

IndusInd Bank with a target price of Rs 1850. The current market price of IndusInd Bank Ltd. is Rs 1493.1. IndusInd Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 114774.95 Crore).

Sandip Sabharwal, asksandipsabharwal.com, says the Axis Bank stock needs to get re-rated higher. It trades at 1.8 times book while most of the other large private sector banks are more near 2.7 to 3 times. It trades at valuations which are 35% cheaper than HDFC Bank while on most parameters it is doing maybe as well or better in terms of gross NPAs, net NPAs, provision coverage, return on equity across the board. Disadvantage Kotak is turning out to be advantage with good numbers from Axis and the entire PSB bank pack is also holding out very smartly. SBI had a solid 4.25% move, the smaller ones are holding out well. What is it that you have made of the RBI move on Kotak banning addition of credit cards as well as online accounts and Axis numbers as well?

Senior brokerage executives continued to shrug off the potential impact of the Department of Labor’s new fiduciary rule, which many believe may be legally contested by the insurance industry at some point.

Cantor Fitzgerald Chief Executive Officer Howard Lutnick expects the Federal Reserve to cut rates a single time this year, just ahead of the US presidential election.

Alphabet announced its first-ever dividend on Thursday and a $70 billion stock buyback, cheering investors who sent the stock surging nearly 16% after the bell. The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals on generative artificial intelligence. The dividend will be 20 cents per share.

In a fresh wave of enthusiasm sweeping the Solana blockchain, $SNUKE Coin announces its exciting presale, setting the stage for what could be the next major meme coin craze.

“Investors placed more bullish bets on the monthly F&O expiry day, which saw benchmark indices rally for the fifth straight session led by gains in frontline banking and metal stocks. Even the fall in other Asian and European indices and US Dow Futures witnessing a sharp fall too didn't deter local investors," Prashanth Tapse, Senior Vice President (Research) at Mehta Equities said.

Axis Bank and other banking stocks. While the S&P BSE Sensex settled at 74,339.44, up by 486.50 points or 0.66%, the broader Nifty closed at 22,570.35, gaining 168 points or 0.75%. In today's trade, shares of Maruti Suzuki, Bajaj Finserv, HCL Technologies, Eveready Industries, SBI Cards and Payment Services, SBI Life Insurance Company, Vedanta and Bajaj Finance among others will be in focus due to various related developments or quarterly earnings.

Tata Electronics is now working to internally develop «very sophisticated» and complex high-precision machines used to produce the casing of these iPhone, sources told ET. The company has tied up with two Indian manufacturers to develop capabilities for it and plans to also export these complex machines in the future. So far, the Tatas imported these from China.

Wibmo, a provider of authentication services for online digital payments, is building a complete payment gateway solution. By creating a prepaid issuance stack and a neo-banking solution for banks, Wibmo aims to support digital distribution capabilities of large banks and financial services firms.

Zomato senior executive Mohit Gupta and Myntra founder Mukesh Bansal have raised $26 million in seed money for their omnichannel fashion startup Lyskraft, making it one of the largest early-stage rounds for an Indian startup amid the ongoing funding crunch. The round was led by Peak XV Partners, formerly Sequoia Capital India, Gupta told ET, adding that the seed money will help the partnership take forward the plan of building an omnichannel play as a marketplace for premium brands, starting with women’s fashion and subsequently expanding into other lifestyle categories.

private equity fund Advent International is among investors in discussions to acquire a minority stake in Apollo 24/7, the digital healthcare platform of Apollo Hospitals, said two people aware of the development. The buyer is likely to invest about Rs 2,100 crore ($250 million), valuing the subsidiary at about Rs 17,000 crore ($2 billion). Apollo 24/7 is part of Apollo HealthCo, a subsidiary of Apollo Hospitals. HealthCo also houses the pharmacy distribution business and a 25.5% interest in Apollo Pharmacy. It accounts for about 40% of Apollo Hospitals’ revenue. The promoters have been in discussions with various investors to dilute a minority stake in the pharmacy subsidiary for the last couple of years. Talks were previously held with Amazon,

ARK Invest is betting big on private tech companies.

Microsoft has reported that its profit rose 20% for the January-March quarter as it tries to position itself as a leader in applying artificial intelligence technology to make workplaces more productive

Smokers in Minneapolis will pay some of the highest cigarette prices in the country after the City Council voted unanimously to impose a minimum retail price of $15 per pack to promote public health