UPS Financial News

asset, with second-ranked Ether hints at a possible waning of risk appetite in crypto. The ratio scaled 20 this week and reached the highest level since April 2021, reflecting more resilient demand for the oldest cryptocurrency rather than the smaller rival.

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, says: “The way I look at it, infra will come back with a strong set of numbers and so will defence. Apart from that, I am looking at a good set of numbers from BFSI as well as real estate. These are the four-five sectors which definitely will come back with good numbers. As far as other sectors are concerned, IT and FMCG will be a mixed bag. I do not think we will see a major pickup in earnings in IT. Cement, again, will be a little subdued.” What are you making of the resilience of India equity markets? The fact that crude is already at $91, but the Indian markets are not really absorbing that hit so far and even the central bank seems not perturbed by the sudden spike that one has seen. Sudip Bandyopadhyay: Crude at $91 does not augur well for India. However, this has just happened and crude prices have been benign for a very long time and this sudden shooting up is predominantly on the back of two things. One is what is happening in Russia and the Gulf and also the Chinese demand suddenly picking up with possible economic recovery in China. Now, the combined effect of all these factors and somewhere I am sure the calculations are that geopolitical tensions will ease and production in Russia as well as the Gulf will stabilise.

Mark Matthews, MD, Julius Baer, says: “China is not a good market to invest for the long term and if you put $100 into India 30 years ago, it would be about $1,800 today, which is remarkable considering what the rupee has done over that period of time. $100 in China would be about $150 today. So, it has been a destroyer of capital. However, there are opportunities that come along in every market, including China, and I think this is one, firstly, because their economy is bottoming out and it is not only cheap, it is abnormally cheap. I think China will be about 20% to 30% higher between now and 12 months from now. But beyond that, I would not hold it.” After how long have you come to India and what is the staggering change that you have felt? Mark Matthews: It has been around two years since I was last in India and it is great to be back.

₹2,075 crore to Oriana Investments Pte. Ltd, an Aditya Birla Group entity that is part of the promoter group, on a preferential basis. The issue price of the shares is ₹14.87 apiece, higher than the closing price of ₹13.36 on the BSE on Friday.

Mirror. This development comes in the wake of his high-profile security battle with the UK Home Office that he lost just a few months ago. The British royal was reportedly experiencing "sleepless nights" ahead of the Invictus Games' tenth-anniversary celebrations.

It is ChIna’s gravest economic test since the most far-reaching of Deng Xiaoping’s reforms began in the 1990s. Last year the country achieved growth of 5%, but the pillars of its decades-long miracle are wobbling. Its famously industrious workforce is shrinking, history’s wildest property boom has turned to bust and the global system of free trade that China used to get richer is disintegrating.

After a good start, the overall trajectory for the market is positive for the truncated week ahead. Stock markets are closed on Thursday for Eid-Ul-Fitr.

Abhishek Basumallick, Founder & Chief Equity Advisor, Intelsense Capital, points to two sectors which have not been in the public limelight, chemicals and insurance. “While I am pretty bullish on insurance, chemicals sector is getting to the stage where we are probably seeing bottoming out in the businesses and things could turn around in the next 12 months,” says Basumallick. He also points out that IT and banking may also see a turnaround but that will take longer. Let’s discuss the market momentum right now and it is clearly favouring the small and midcaps. What do you make of the way forward because on one hand, there is always the challenge that it is probably getting towards the frothy zone as the valuations are expensive in smallcap and midcap, but the market mood is such that they clearly want to buy more of that? Abhishek Basumallick: The point that you are making is very true as there is uncertainty in the minds of investors. But personally, I think that small and midcaps could be headed for a pre-election rally and it is going to be very interesting to see how the largecaps behave, but the next couple of months should be very interesting for the mid and smallcaps.

Spot gold closed with a solid gain of 1.76% at $2330 Friday as the metal rallied for the third straight week. It hit a fresh record high just above $2330. It posted a whooping gain of nearly 4.50% on the week despite surging yields and a largely steady US Dollar. Part of the gains this week could be attributed to escalating Middle East tensions on possibility of a direct war between Israel and Iran. The ten-year US yields were up 2.14% Friday and were up around 4.70% on the week. The two-year US yields closed at 4.76%, up by 2.26% Friday and were up around 2.50% on the week. The US Dollar Index failed to capitalise on a stellar job report as healthy risk appetite weighed on it; however, it closed with a gain of 0.06% at 104.29 Friday and was down by roughly 0.20% on the week.

Thailand is steering an initiative for a joint-visa program with countries that together hosted about 70 million tourists last year as Prime Minister Srettha Thavisin ramps up initiatives to attract more long-haul and high-spending travelers. Srettha — who’s pledged to elevate Thailand’s status as a tourism hotspot into an aviation and logistics hub — has discussed the Schengen-type visa idea with his counterparts in Cambodia, Laos, Malaysia, Myanmar and Vietnam in recent months. The facility is meant to ensure seamless mobility for travelers among the six neighboring countries. With most leaders positively responding to the single-visa concept, tourism-reliant Thailand aims to generate more revenue per traveler and cushion its economy from headwinds such as sluggish exports and weak global demand that’s hurt its manufacturing industry.

but managed to end on a positive note. Weak global cues continue to weigh on the sentiment however, buying in select heavyweights across sectors not only capped the damage but also helped the index to close in the green. Domestic equity benchmarks Nifty 50 and Sensex extended their winning streak and logged a third straight week of gains, with the onset of FY25.

Who won yesterday IPL Match? Rajasthan Royals (RR) took on Royal Challengers Bengaluru (RCB) at home on April 6. Bengaluru, coming from 3 defeats in 4 matches, lost the toss and were asked to bat first. On paper, RCB had the perfect start.

Income Tax department is coming after them without informing them by an email or letter. They are clueless that the tax office has initiated action by simply posting the show-cause notice or summon on the department's e-portal. Such assesses who don't check the tax portal regularly — in fact, few do — may be in for shock and penalty. But how fair is this? According to a recent High Court ruling, this is no way for tax authorities to deal with either individuals or corporations who are not expected to keep the e-portal open all the time to figure out what the taxman is up to. Quashing a November 2022 show-cause notice against Munjal BCU Centre of Innovation and Entrepreneurship, The Punjab and Haryana High Court said «it is essential that before any action is taken, a communication of the notice must be in terms of the provisions» of the law that provides for a method and manner of service of notice and orders. «The provisions do not mention communication to be „presumed“ by placing notice on the e-portal,» said the order given a month ago.

artificial intelligence (AI) text-to-code tools such as IBM Codenet, Microsoft’s GitHub CoPilot, Amazon’s Code Whisperer as well as StarCoder by Service Now and Hugging Face etc, to enhance productivity. Some of these tools claim to increase efficiency by up to 50%. These Gen AI models can generate code from simple text prompts 55% faster and can even check code quality and reviews in almost every computer language, including C++, Java, Go, Python, COBOL, Pascal and Fortran. Small wonder then that they are sparking high levels of curiosity.

Gen Z, are showing more interest in buying local products, pushing up the age group’s contribution to their sales in the last three to four years. Several companies in categories such as electronics and technology products, personal care and fast-moving consumer goods (FMCG) said Gen Z roots for desi products, unlike consumers in the age group from the late 30s to the 50s, who have a soft corner for foreign brands. Sales from younger consumers are growing at the fastest pace — two to three times the overall sales growth in the last few years, marketers said. Latest study by market researcher NielsenIQ said almost 100 million Gen Z consumers in India are shaping a new form of patriotism, going beyond traditional notions.

Peter Pellegrini won Slovakia's presidential election Saturday against pro-Western diplomat Ivan Korcok. Opposition-backed Korcok conceded defeat as nearly complete results showed he had received 47 percent of the vote against former prime minister Pellegrini's 53 percent.

new single-event fundraising record and is almost double the $26 million that Biden's campaign said it raised recently at a gathering with former Presidents Bill Clinton and Barack Obama at Radio City Music Hall in New York. Saturday's event, billed as the “Inaugural Leadership Dinner," sends a signal of a resurgence of Trump and the Republican Party's fundraising, which has lagged behind Biden and the Democrats.

Jos Buttler hit an unbeaten 100 to trump Virat Kohli's first century of the IPL season as Rajasthan Royals beat Royal Challengers Bengaluru by six wickets on Saturday. England's Buttler reached his ton, from 58 balls, with a six in his 100th IPL match when Rajasthan needed one for victory in their chase of 184, with five balls to spare in Jaipur. Buttler, who struck form after he scored 35 across the previous three matches, put on 148 runs for the second wicket with skipper Sanju Samson, who made 69.

₹615 crore, as per Isro. Getting to the south pole region is a leap in itself, as it makes India the first country to make a gentle landing here, but the advancements we hope for lie ahead. The whole idea is to expand the frontiers of human knowledge.

Apple TV+, promising more laughs, drama, and philanthropic adventures with Maya Rudolph. Fans of the show can remember correctly that it's been a whirlwind journey since Molly Wells vowed to distribute $120 billion in the Season 1 finale of "Loot," but now, as Season 2 of the Apple TV+ comedy unfolds will the Wells Foundation fulfill her ambitious pledge?

Hacks" Season 3 in a recurring guest star role, a Variety report said. Character Details