UPS Financial News

MUMBAI : Warburg Pincus has picked up a stake in Chennai-based Appasamy Associates Pvt. Ltd., a manufacturer of ophthalmic equipment and devices, in what is the US-based private equity firm's largest investment in the healthcare sector in India, a statement released by the two firms said. Though the firms did not disclose the financial details of the deal, people with knowledge of the matter said that Warburg has acquired around 65% stake in the company for nearly $300 million.

New Delhi: Only a handful of Indian goods such as mobile phones and drugs witnessed a rise in their annual export value during the first 11 months of FY24 in a year that saw high interest rates globally curb demand and geopolitical tensions hurt international trade. Goods that saw their exports value increase between April 2023 and February 2024 include agricultural produce, drugs and pharmaceuticals, cotton yarn and handloom products, electronic goods, iron ore, ceramic products /glassware and engineering goods, according to the latest commerce ministry data.

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₹100, indicating a potential upside of over 15 percent from today's (April 10) closing price of ₹84.71. "IDFC First Bank has built a well-rounded platform, arguably among the most improved deposit franchises. Operational efficiencies will play out from H2FY25, and over FY24-27 strong deposit growth will aid loan growth that should aid 28 percent EPS CAGR even as credit costs rise.

₹150-200 per day. The men are not interested. They would rather work at construction sites, where the wages are higher—upwards of ₹300 per day.

IPL 2024's official website. Suryakumar Yadav shared the difficult phase when he was facing multiple medical issues and injuries which forced him to stay out of the ground. The explosive batter emphasized the importance of keeping one's diet good and getting adequate sleep.

The Wall Street Journal chief economics correspondent Nick Timiraos says the central bank needs 'credible justification' for beginning rate cuts.

AUKUS security pact this week.AUKUS, formed by the three countries in 2021, is part of efforts to push back against China’s growing power in the Indo-Pacific region by focusing on military modernization through new technologies. The trio announced Monday it will begin consultations this year on collaborating with “prospective partners” around the world as part of its second phase, specifically mentioning Japan as an ally it is considering working with.Not mentioned was Canada, despite the federal government saying it is considering joining the pact Prime Minister Justin Trudeau in 2021 described as “a deal for nuclear submarines, which Canada is not currently or any time soon in the market for.”Speaking to reporters Monday as his government announced its long-awaited defence policy update, Trudeau said Canada was already talking with AUKUS members about working with the alliance and potentially even joining it as a member.“I think it’s really important that allies, particularly across the Indo-Pacific, work together in stronger and tighter ways, and those Canadian conversations with our partners will continue,” he said.But AUKUS members have already poured cold water on the idea of expanding the alliance beyond the core trio — and experts say even if that is possible, Canada is unlikely to be invited.“The United States and Canada are already so closely aligned that AUKUS could become CANAUKUS pretty easily, but it’s not.

UBS and three other systemically relevant banks must face tougher capital requirements to shield the country's wider economy, a year after the rescue of Credit Suisse. In 209 pages of recommendations on how to police banks deemed «too big to fail» (TBTF), the Swiss government pitched 22 measures for direct implementation. It stopped short of saying how far stricter capital requirements should go.

Tamil Nadu BJP chief K Annamalai on Wednesday took strong exception to Congress leader Digvijaya Singh's remark on Katchatheevu and Prime Minister Narendra Modi and demanded an unconditional apology. Accusing the Congress leaders of having «no guilt» for having compromised on our territorial integrity by ceding Katchatheevu to Sri Lanka and for putting the lives of Tamil Nadu fishermen at risk, he said the views expressed by the Congress leaders on the subject only displayed their mindset. «Not a Blade of grass grows there' for Aksai Chin & 'who lives there' for Katchatheevu reflects Congress' mindset,» Annamalai said in a post on 'X' referring to the earlier remark made by former Prime Minister Jawaharlal Nehru on Aksai Chin and now Congress leader Digvijaya SIngh's comments on the islet given to Lanka. Annamalai posted a video of Singh criticising Modi for raising the Katchatheevu issue.

froth in the broader market seems to have had an impact on mutual fund investors, too, who have started pulling out money from their smallcap investments for the first time after two and a half years. In March, the smallcap category saw an outflow of Rs 94.17 crore. The category saw its last considerable outflow of Rs 248.73 crore in September 2021. In FY24, the category received total inflows of Rs 40,188.56 crore with the highest seen in June 2023 at Rs 5,471.75 crore. During March, smallcap was the only equity category, which witnessed net outflows.

Directorate General of Civil Aviation (DGCA) has sought a timeline from airlines as to when they can implement the new pilot rest duty rules. DGCA’s move comes after the Delhi High Court, last week asked the regulator for a tentative date for implementation of the revised duty time norms for pilots. The court was hearing a writ petition filed by multiple pilot unions, challenging the DGCA rules on pilot’s duty hours. Prominent among them is a case filed by the Federation of Indian Pilots, which has more than 5,000 members.

yen weakened on Wednesday, pushing the dollar to its highest against the Japanese currency since 1990, with markets alert to any signs of intervention from the Japanese authorities to prop the yen. This followed latest US. inflation data.

New Delhi, Auto components maker Uno Minda on Wednesday said it has commenced construction work on a passenger vehicle alloy-wheel plant in Haryana, entailing an investment of Rs 542 crore. The facility is located at IMT Kharkhoda in Haryana, and it will have a production capacity of 1.2 lakh wheels per month. The plant, with a capital outlay of Rs 542 crore, will be set up in a phased manner over the next five years, with the first phase expected to be commissioned in the second quarter of FY26, Uno Minda said in a statement. Uno Minda secured a land parcel of 94.32 acre at IMT Kharkhoda, Haryana HSIIDC, to fuel its ongoing and future expansions.

Shares of Biocon Ltd.(up 2.59 per cent), Abbott India Ltd.(up 2.28 per cent), Laurus Labs Ltd.(up 1.21 per cent), Ipca Laboratories Ltd.(up 0.66 per cent) and Zydus Lifesciences Ltd.(up 0.52 per cent) ended the day as top gainers in the pack.

Domestic benchmark index NSE Nifty ended 111.05 points up at 22753.8, while the BSE Sensex closed 354.45 points up at 75038.15.

The firm downgraded RIT Capital Partners to ‘Sell' in March 2023 over concerns of late-stage VC investments pushing up its risk profile and a lack of transparency around its payments to senior employees amid lacklustre returns for investors. Sell-side analysts Alan Brierley and Ben Newell went as far as calling the trust «uninvestable» on cost grounds alone after its VC exposure resulted in a sharp increase in the KID cost.  However, in a research note today (10 April), they said the «brutal de-rating» of the trust, which has seen its discount collapse to nearly 30% despite buybacks, ...

A former longtime executive in Donald Trump’s real estate empire is set to be sentenced for lying under oath in the ex-president’s New York civil fraud case

Shares of Phoenix Mills Ltd.(up 4.13 per cent), Sobha Ltd.(up 2.73 per cent), Macrotech Developers Ltd.(up 2.26 per cent), Swan Energy Ltd.(up 0.19 per cent) and Brigade Enterprises Ltd.(up 0.18 per cent) ended the day as top gainers in the pack.

currency's gains after it touched the strongest level in nearly three weeks. The rupee closed at 83.1850 against the U.S. dollar, up 0.16%, compared with its previous close at 83.3150. The currency rose to an intra-day high of 83.16, its strongest level since March 21.

Samajwadi Party general secretary and party nominee from Budaun Lok Sabha seat, Shivpal Singh Yadav, on Wednesday alleged that some officials of the district are working at the behest of the BJP leaders. He accused these officials of threatening the village heads, block development committee (BDC) members and others to work for the ruling party and said he has complained about it to District Magistrate (DM) Manoj Kumar. If the DM does not take action in this connection, we will complain about this to the Election Commission, he said. To a question on Prime Minister Narendra Modi's statement that the union of two boys is a flop show, Yadav said the two boys he is referring to are leaders, not artists.