UPS Financial News

WASHINGTON—President Biden’s announcement last week that his administration would seek to forgive billions of dollars’ worth of federal student loans was cheered by progressives, the latest in a string of actions he has taken to shore up support from the left—annoying the center in the process. That has some Democrats worrying he is making a big mistake.

renewable energy firm GPS Renewables has raised $50 Million (Rs 411.50 Crores) in debt financing from a clutch of private and public sector banks, and non-banking financial companies including Punjab National Bank, HDFC, Yes Bank, and HSBC Bank among others. The funds will be used for its nationwide execution of compressed biogas plants. GPS Renewables provides end-to-end solutions for the development, production, and distribution of biofuels.

Honda Motor plans to launch six next-generation electric vehicle (EV) models branded Ye in China by 2027, the automaker said on Tuesday. It added that it also planned to roll out a total of 10 Honda-brand EV models in China by 2027 in the race to ensure EVs make up 100% of its automobile sales in the country by 2035. Japan's second-biggest car maker has lagged behind European and U.S. competitors such as General Motors and Volkswagen in ramping up EV sales.

Naxalites in Chhattisgarh's Kabirdham district, a senior official said on Tuesday. Pamphlets with the announcement «suchna do inaam pao» (give information, receive a reward) were distributed in the Naxalite-affected villages of the district, which shares a border with Madhya Pradesh. «Anyone who helps in the arrest of Naxalites or provides inputs leading to their killing in encounters will be given a cash reward of Rs 5 lakh and a job in the police force. Cash rewards will also be given to persons who help in the surrender of Maoists,» the pamphlets stated. Talking to PTI, Kabirdham Superintendent of Police (SP) Abhishekh Pallava said, «We have distributed pamphlets and stuck posters of our new offer in Maoist-hit villages in the last two days. We have also sent messages on WhatsApp to mobile phone users in these villages.»

In the unlisted market, the company's shares are trading with a GMP of Rs 20. This compares with an offer price of Rs 80 apiece.

West Bengal, Chief Minister Mamata Banerjee on Tuesday said that PM Narendra Modi who accuses her TMC of corruption should look in the mirror first. Addressing an election rally at Moinaguri in Jalpaiguri district, Banerjee said it was the TMC which is fighting the BJP in the state, while the CPI(M) and Congress were working with it. «BJP had sent 300 central teams to Bengal to investigate the allegations of corruption but they didn't find anything. Now, PM Modi needs to answer the people of Bengal, what happened to the MGNREGA funds? Poor people worked under the scheme but were not paid,» she said, demanding a white paper into the investigations. «The PM says TMC is a corrupt party. He should look in the mirror first. His party is filled with dacoits,» she added.

The figure for the first quarter of the year, reported by the National Bureau of Statistics today (16 April), surpassed the expectations of Reuters analysts, who had predicted a growth rate of 4.6%. On a quarterly basis, GDP grew by 1.6%. Overall, China's GDP stood at CN¥29.63trn ($4.17trn) at the end of the period. Compared to the same period in 2023, China's industrial output was up 6.1%, with retail sales climbing 4.7%, according to the NBS. Fitch Ratings downgrades China's credit to 'Negative' as deficits 'erode fiscal buffers' Chinese residents' nominal disposable income wa...

The company said it believes the IPO will «provide an enduring long-term institutional structure to support the group's continued growth and evolution» and provide access to the public capital markets, increasing the firm's profile, and enable it to «invest in its people». The European private equity firm is targeting a minimum €1.25bn fundraise for the listing, after previously postponing its plans due to upheaval in the Middle East. RIT Capital Partners set for portfolio boost as two private holdings line up IPO and tender offer CVC has delayed its IPO twice in as many years due ...

The Swiss firm told Investment Week that the changes will come into effect on or around 6 May 2024, with no impact on the day-to-day management or the strategy. Hawtin currently leads the global growth equity team at GAM, having worked at the firm since September 2008. He became the sole manager of the $36.6m Star Alpha Technology fund in 2010.  Liontrust raids GAM for team heads as outflows persist According to FE fundinfo, the fund has gained 53.7% over the past five years, while the IA Specialist sector is up 29.7%. In the past year, it is up 23.5%, while the sector has returned...

The figures released today (16 April) by the Office for National Statistics came in well ahead of economist expectations of a 4% print.  Wage growth was also higher than expected during the period. Average regular earnings growth excluding bonuses fell to 6%, compared to the 5.8% predicted. Including bonuses, average earnings remained stagnant at 5.6%, against the 5.5% forecast. UK out of 'short and shallow' recession as GDP grows 0.1% in February «This may raise further concern among some Monetary Policy Committee members over the persistence of inflationary pressures,» said Micha...

DLF Ltd. traded 0.88 per cent down in Tuesday's trade at 01:49PM (IST). Around 75,940 shares changed hands on the counter. The stock opened at Rs 874.1 and touched an intraday high and low of Rs 883.45 and Rs 868.4, respectively, in the session so far. Shares of the company of DLF Ltd. quoted a 52-week high of Rs 967.0 and a 52-week low of Rs 402.0.

Federal Bank Ltd. traded 1.54 per cent down at Rs 152.65 on Tuesday at around 01:39PM (IST), while the benchmark BSE Sensex declined 657.69 points to 72742.09. As many as 435,939 shares changed hands on the counter with a total value of Rs 6.67 crore.

interest rate cut according to analysts. The UK unemployment rate rose to 4.2 percent in the three months to the end of February, up from 3.9 percent in the three months to January, the Office for National Statistics (ONS) said in a statement.

Shriram Finance Ltd. rose 0.15 per cent to Rs 2411.9 in Tuesday's trade. It hit an intraday high of Rs 2423.3 and low of Rs 2355.7, respectively, during the day. The stock quoted a 52-week high price of Rs 2605.0 and low of Rs 1296.55.

Cholamandalam Investment & Finance Company Ltd. traded 1.85 per cent down in Tuesday's trade at 01:54PM (IST). Around 7,552 shares changed hands on the counter. The stock opened at Rs 1155.1 and touched an intraday high and low of Rs 1162.45 and Rs 1131.05, respectively, in the session so far. Shares of the company of Cholamandalam Investment & Finance Company Ltd. quoted a 52-week high of Rs 1309.75 and a 52-week low of Rs 819.0.

Dolly Khanna portfolio: Selan Exploration Technology share price has been on an uptrend since mid-March 2024. After bottoming out at ₹410 apiece level on 14th March 2024, Selan Exploration share price has been rising to new peaks regularly. This Dolly Khanna latest portfolio entrant today opened upside at ₹599 apiece and went on to touch an intraday high of ₹683.70 per share on NSE within an hour of the stock market's opening bell.

Hardik Pandya should not be selected for T20 WC. But, he will be there." Another one said, “Remove Hardik Pandya from that 15 please." “Picking best side is the primary job to ensure the trophy. I don't think we should include Hardhik Pandiya in our team.

₹300 crore, and an offer-for-sale (OFS) of up to 8,421,052 equity shares of a face value of ₹2 each by the promoter selling shareholders, Goutam Rampelli (up to 1,122,807), JNK Global Co. Ltd (up to 2,432,749), Mascot Capital and Marketing Private Limited (up to 4,397,661), and individual selling shareholder Milind Joshi (up to 467,835).

₹10.9 in March 2021 to currently trade at ₹430.25. Meanwhile, it rallied almost 849 percent in the last 1 year, rising from ₹45.35. In 2024 year-to-date (YTD), the stock has jumped 56 percent, giving positive returns in 3 of the 4 months so far.

NEW DELHI : Against the backdrop of economic fluctuations and a prolonged downturn in consumer demand, India's smartphone market—the second-largest globally—is showing early signs of a resurgence. Per Mint's research, based on data gathered from four industry analysts, smartphone shipments in India likely ranged from 32.5 million to 35 million units in the first quarter of 2024, signalling a modest revival amid muted consumer sentiment. The Indian smartphone market had peaked in the January-March quarter of 2021 with 38 million units shipped, according to data from International Data Corporation (IDC) India.

Narendra Modi's 'sultan of tukde-tukde gang' jibe against Congress at a rally in Karnataka, former Union Minister P Chidambaram said on Tuesday that the BJP's manifesto, especially on the Uniform Civil Code, will create divisions between communities in India. «Every time they (the BJP) are faced with a concrete set of plans and programmes from the Congress, they will accuse the Congress of being a gang that is trying to break up the country,» Chidambaram told ANI. «In fact, it is the BJP's manifesto, especially on the common civil code, that will create divisions between one community and another, and these divisions will eventually lead to hate speeches, resentment, anger and conflict,» he added.