UPS Financial News

Action dates for all family-sponsored Green Card applications from India have shown progress. Noteworthy changes include the Final Action Date for the F2A visa, a Family Based Green Card tailored for spouses and unmarried children of US permanent residents/Green card holders. This date has moved from September 2020 to June 2021, indicating a slight advancement. The F2B visa, reserved for unmarried sons and daughters (21 years of age or older) of permanent residents are allotted 23% of the overall second preference limitation. The Final Action Dates for these applicants have moved up from November, 2015 to April, 2016.

Havells India Ltd. traded at Rs 1536.0 on BSE at 11:52AM (IST) on Friday, up 2.28 per cent. The stock quoted a 52-week low price of Rs 1158.5 and a high of Rs 1590.9. Earlier in the day, the stock saw a gap up opening.

DLF Ltd. traded at Rs 914.55 on BSE at 11:57AM (IST) on Friday, up 0.33 per cent. The stock quoted a 52-week low price of Rs 401.45 and a high of Rs 967.0. Earlier in the day, the stock saw a gap down opening.

Avenue Supermarts Ltd. gained 0.17 per cent to Rs 4760.85 in Friday's trade as of 11:41AM (IST). The stock hit a high price of Rs 4802.7 and low of Rs 4725.55 during the session. The return on equity (ROE) for the stock stood at 14.83 per cent. Traded volume on the counter stood at 11:41AM shares and turnover at Rs 2.3 crore around that time. The stock of Avenue Supermarts Ltd. quoted a 52-week high price of Rs 4831.0 and 52-week low prices of Rs 3353.05, respectively.

Sanjiv Bhasin, Director, IIFL Securities, says in October, when the FII short position was over 74%, that was when one had to be greedy. Now they have turned long on 18% and there is no short position. So, now, one should be fearful. You have to take it at your own risk reward. I see no risk reward right now till the earnings season is over as a large part of the positives of earnings are already priced in.” Bhasin says: “I continue to be positive on a buy on Vedanta on any decline and a buy on Nalco and SAIL. In specialty chemicals, UPL, Navin, Aarti are looking good.” You had earlier warned that this month could get a little volatile and looking at the CPI and the PPI print in the US and the way the markets panned out from there, it seems like we got to brace ourselves for a little bit of global volatility? Sanjiv Bhasin: That is very much on the cards. However, like you see in the US, the Magnificent Seven are again touted to have their best week in the last three. So, weak data or hotter than expected inflation is all getting absorbed. It is typical of a bull market which is ignoring bad news just on the pretext that people are feeling missed out.

MphasiS Ltd. traded 0.21 per cent up at Rs 2450.7 on Friday at around 11:31AM (IST), while the benchmark BSE Sensex declined 300.21 points to 74737.94. As many as 2,360 shares changed hands on the counter with a total value of Rs 0.58 crore.

Shree Cements Ltd. traded 0.65 per cent higher in Friday's session at 11:36AM (IST). The stock opened at Rs 25750.0 and has touched an intraday high and low of Rs 25851.85 and Rs 25605.0, respectively, during the session so far. The stock quoted a 52-week high of Rs 30710.15 and a 52-week low of 22601.3. About 202 shares changed hands on the counter so far.

With a population of IT capital exceeding 1.5 crore, water shortages have intensified in recent decades due to uncontrolled growth. Despite sporadic government initiatives, the city’s growth has outpaced its infrastructure development, leading to a failure to adequately address the looming crisis. Furthermore, the destruction of lakes has exacerbated the challenges faced by the tech capital of the country. A prominent resident welfare association (RWA) of south Bengaluru said successive govts since independence were aware that Bengaluru would eventually face a water crisis. “None took up the responsibility to prepare the city for such a catastrophe,” the RWA lamented.

India VIX, a measure of volatility in Nifty, was reported at 11.36, up 2.29% over Wednesday's closing. Indian equity markets were closed on Thursday on account of Eid-Ul-Fitr (Ramzan Id).

Steve Englander, Forex Strategy, Standard Chartered Bank, says: “We do not think they are going to be cut in May. We used to think they would be cut in June. I would say it is still possible, but it has gone below 50% in our calculation. So, we see July as the first possible easing.” Just wondering how to dissect the PPI as well as CPI data because the Fed pivot is quickly disappearing it seems and that I guess is going to be higher for longer? Steve Englander: We think so. We changed our Fed forecast from cutting four times this year beginning in June to cutting twice, probably with the first cut in July. The issue is that inflation is staying up. We initially thought it was an aberration. It still might be an aberration, but we are less sure. The last three months of inflation are higher than the corresponding three months the year before and it is the first pickup in a while.

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TDS typically at 1% of property value before making payment to any seller. However, there is an exception to this rule which may require you to deduct higher tax deducted at source (TDS) and it is linked to the status of the PAN of the seller. Before buying property, you need to check the status of PAN-Aadhaar linkage of the property seller. This needs to be checked both at the time of paying token money and at the time of making the final payment for the property. Chartered Accountant Mihir Tanna, associate director-direct tax, S.K. Patodia LLP, shares the experience of one of his clients who bought a property.

Bharat Electronics Ltd. rose 1.87 per cent to Rs 233.1 in Friday's trade as of 10:10AM (IST) even as the benchmark Nifty ruled at 22640.55, down 113.25 points. The scrip had closed at Rs 228.8 in the previous session. The stock quoted a 52-week low of Rs 98.85 and a high of Rs 235.2. The company quoted a market-cap of Rs 168709.7 crore on the BSE.

ICICI Prudential Life Insurance Company Ltd. traded 1.57 per cent up at Rs 636.7 at 10:25AM (IST) on Friday, even as BSE benchmark Sensex dropped 451.5 points to 74586.65. The stock had settled at Rs 626.85 in the previous session. The stock quoted a 52-week high price of Rs 638.75 and 52-week low of Rs 420.1, respectively. As per BSE data, total traded volume on the counter till 10:25AM (IST) stood at 14091 shares with a turnover of Rs 0.9 crore.

Indian Hotels Company Ltd. gained 1.64 per cent to Rs 606.0 at 10:20AM (IST) in Friday's trade. The scrip hit a high of Rs 607.1 and low of Rs 597.0 so far during the session. The stock had closed at Rs 596.2 in the previous session. The counter had a total traded volume of 10:20AM shares so far with a turnover of Rs 1.46 crore on BSE. The stock traded at a price-to-earnings multiple of 72.72 and a price-to-book ratio of 5.77.

Kwatra is here this week for a series of meetings with senior officials from the US Government and interaction with industry leaders to advance bilateral cooperation in areas like defence and technology. Kwatra held separate meetings with Richard Verma, Deputy Secretary of State for Management and Resources and Kurt Campbell, Deputy Secretary of State at the Foggy Bottom headquarters of the State Department. «Productive catch up with Indian Foreign Secretary Kwatra on advancing ongoing US-India cooperation and the need for our countries' close partnership for regional security and prosperity,» Verma said in a post of X. Earlier in the day, Kwatra was hosted by the US India Business Council over a breakfast meeting with its Board Chair and NASDAQ Executive Vice Chairman Ed Knight.

Lupin Ltd. traded 1.8 per cent up at Rs 1634.55 at around 10:15AM (IST) on Friday. The stock had closed at Rs 1605.5 in the previous session. Equity benchmark Sensex traded 444.9 points lower at 74593.25 around the same time.

₹755 per share, 32.5% higher than the issue price of ₹570. On BSE, Bharti Hexacom share price today opened at ₹755.20 apiece, up 32.49% than the issue price.

IPL 2024: Not very long ago, Mumbai Indians (MI) captain Hardik Pandya was booed by his home crowd. The MI fans, unhappy with Rohit Sharma being replaced by Hardik Pandya as captain, reacted with hostility at the Wankhede Stadium. Things went so out of hand during the toss against Rajasthan Royals (RR) on April 1 that Sanjay Manjrejar, while supervising the toss, had to ask the crowd to “behave".

High demand for ₹1 crore homes; Over 10,000 units sold in Delhi-NCR in Q1 2024 In December 2023, the Uttar Pradesh government asked Noida development authorities to register within 90 days all flats that are mire in legal cases. Under the UP government policy, registration of stalled flats can start after the builder pays 25% of dues and the remaining 75% to be paid in the next one to three years.

Tesla gets ready to import German-made EVs to India Stellantis, which was formed after the merger of Italian-American conglomerate Fiat Chrysler Automobiles and French PSA Group, currently sells its Jeep and Citroen brands in India. "It is also important for us as a player in the Indian automotive space to be competitive. We want to leverage India as a 'best cost country', which is what we call 'India for the world," Stellantis India CEO & MD Aditya Jairaj said.