UPS Financial News

capital hit an all-time high on Monday and jumped Rs 350 to Rs 71,700 per 10 grams following a pick-up in safe-haven demand for the precious metal, according to HDFC Securities. The yellow metal prices have seen remarkable gains so far in 2024, becoming costlier by over Rs 7,700 per 10 grams. In the previous session, gold had ended at Rs 71,350 per 10 grams.

Kotak Alternate Asset Managers Limited announced that its iconic fund has successfully raised Rs 2,000 crore. Kotak Iconic Fund, an open-ended fund, has been conceptualised as an equity multi-advisor portfolio solution. The fund has maintained a flexible approach by adopting diversified active and passive strategies across market capitalisation and tactical allocations, according to the press release. Kotak Iconic Fund solves this with its disciplined framework-based investing and risk management to deliver a smooth investing journey.

foreign portfolio investors (FPIs) would have an impact on the movement of rupee against the US dollar bringing it to the downside on occasion. While the USD-INR pair is expected to remain in a range between 82 and 84 for FY 2025, in the near term 83.50 looks like a strong resistance for the pair while 82.50 acts as a strong support. These aforementioned support and resistance levels will remain sacrosanct for the Reserve Bank of India (RBI) and the Central Bank will likely keep the pair within this range to ensure all-round stability.

finance companies (NBFC) are nearing Rs 1 lakh crore after more than five years since the model came into being, Crisil Ratings said on Monday. A study of about 100 NBFCs, accounting for over 90 per cent of the sector's AUM, showed that personal loans alone account for about a third of the AUM, followed by housing loans at 20 per cent and unsecured MSME loans and gold loans each making up 13 per cent of the pie. Secured MSME (including loan against property) and vehicle loans comprise the rest 20 per cent of the current overall co-lending book, Crisil said. «Co-lending assets under management (AUM) of non-banking financial companies1 (NBFCs) is nearing Rs 1 lakh crore after more than 5 years since the model came into being,» Crisil said.

Prestige Estates Projects Ltd on Monday reported a 63 per cent annual increase in sales bookings during the last financial year at Rs 21,040 crore — an all time high, on strong demand for its residential properties and higher average per square feet realisation. The company's sales bookings stood at Rs 12,931 crore in the financial year 2022-23. Among listed players, Prestige Estates is likely to become the largest real estate developer in the country in terms of sales bookings. DLF, Godrej Properties, Macrotech Developers, Prestige achieved sales bookings of more than Rs 10,000 crore in 2022-23. In a regulatory filing, Bengaluru-based Prestige Estates informed that the company achieved the highest-ever annual sales.

The cost of housing in the United States today is pressuring household budgets with many weakening their long-term financial security to keep a roof over their heads.

Gold set a fresh record above $2,350 an ounce before paring gains, as investors shifted focus to a key US inflation reading later this week. 

Lexus Granito(India)Ltd.(up 3.70%), NMDC Ltd.(up 2.85%), Oriental Trimex Ltd.(up 2.54%), KIOCL Ltd.(up 2.19%), Sandur Manganese & Iron Ores Ltd.(up 0.80%), MOIL Ltd.(up 0.15%) and Coal India Ltd.(up 0.11%) stood among the top gainers.

Magadh Sugar & Energy Ltd.(up 1.25%), Triveni Engineering & Industries Ltd.(up 0.64%) and Dalmia Bharat Sugar and Industries Ltd.(up 0.18%) stood among the top gainers.

India's silver imports surged by 260% in February to a record high, as lower duties encouraged large purchases from the United Arab Emirates (UAE), government and industry officials told Reuters, adding they were on track to increase by 66% this year. Higher demand in India, the world's biggest silver consumer, could support global prices trading near their highest in three years. India imported a record 2,295 metric tons of silver in February, up from 637 tons in January, said a government official, who declined to be named as he was not authorised to talk to the media.

(This story originally appeared in on Apr 08, 2024)

Nakoda Group Of Industries Ltd.(up 8.60%), Sheetal Cool Products Ltd.(up 3.04%), Godrej Consumer Products Ltd.(up 2.99%), Parag Milk Foods Ltd.(up 2.35%), Tata Consumer Products Ltd.(up 1.96%), Marico Ltd.(up 1.87%), LT Foods Ltd.(up 1.82%), Emami Ltd.(up 1.76%), Adani Wilmar Ltd.(up 1.20%) and Britannia Industries Ltd.(up 0.29%) stood among the top gainers.

Lupin on Monday said it has received approval from the US health regulator to market a generic medication to treat involuntary movements caused by tardive dyskinesia. The company has received approval from the US Food and Drug Administration (USFDA) to market Valbenazine Capsules in strength of 40 mg and 80 mg, the Mumbai-based drug firm said in a statement. The company's product is a generic equivalent of Neurocrine Biosciences, Inc's Ingrezza Capsules, it added. Lupin is one of the first abbreviated new drug application (ANDA) applicants and is eligible for 180 days of shared generic exclusivity, the company said.

Shares of IDFC First Bank Ltd.(up 2.3 per cent), Axis Bank Ltd.(up 1.61 per cent), IndusInd Bank Ltd.(up 1.03 per cent), State Bank of India(up 0.47 per cent) and ICICI Bank Ltd.(up 0.35 per cent) ended the day as top gainers in the pack.

Mergers and acquisitions (M&A) financing activities in the cryptocurrency sector through the first quarter of 2024 are up 22% compared to the previous quarter, according to a research note from Architect Partners.

Rajratan Global Wire have reasons to celebrate, as the shares of this company have surged sharply in recent years. The shares, which were valued at ₹156.70 apiece three years ago, are now trading at ₹638, resulting in a massive gain of 308%. They delivered even more stellar performance, as they skyrocketed 1780% since May 2020.

Breakout stocks: Amid Bank nifty index rising for the four straight sessions, four banking stocks listed in the index have given breakouts either on a closing basis or daily. According to stock market experts, those four breakout stocks listed in the Bank Nifty index are HDFC Bank, Kotak Mahindra Bank, ICICI Bank, and IndusInd Bank. They said that the market has taken an interest rate cut cue from the RBI monetary policy as the RBI Monetary Policy Committee is waiting for the US Fed to initiate a rate cut.

₹100 apiece. The IPO lot size for DCG Cables & Wires Ltd IPO is 1,200 shares.

Tomorrow's IPL Match: Punjab Kings (PBKS) and Sunrisers Hyderabad (SRH) will clash on April 9 at the Maharaja Yadavindra Singh Cricket Stadium in Mohali. Both Punjab and Hyderabad will look to continue their winning run and move up the points table. SRH and PBKS are at number 5 and 6, respectively.

Electric vs Petrol: Ather launches new family e-scooter ‘Rizta’, CEO Tarun Mehta says continuation of subsides vital Contrastingly, fuel demand for FY24, ending in March, reached a record high of 233.276 million tons (4.67 mbpd). This figure surpassed the previous year's consumption of 223.021 million tons (4.48 mbpd).

Stock to buy before Q4 results 2024: Shares of Tata Consultancy Services (TCS) witnessed sharp selling after Tata Sons stake sale news hit the headlines in mid-March 2024. However, TCS share price witnessed strong buying at lower levels ₹3840 to ₹3850 per share. After ending at ₹3,840 apiece on NSE on 27th March 2024, TCS share price has been ascending after every small profit-booking.