UPS Financial News

Pashupati Advani of Global Foray says pharma is back in fashion again. With the pricing pressure in the US to lower drug prices, it is going to be the day of the generics again and India will be back in that space and we are seeing it already. Coming to IT, Advani says: “I am not as wild about IT names. However, with the dollar getting stronger against the rupee, they are going to make money without doing anything. I actually see a big move with ChatGPT, AI, stuff like that which is actually going to hurt our IT names unless they are able to move fast.” Let’s talk about FMCG stocks because Dabur on Thursday had a fall that came in from that front as well. Nothing in terms of a participation is coming in for the FMCG pack, even when we are seeing a bit of a run up. What should one watch out for from the FMCG sector? Pashupati Advani: The FMCG sector has chugged along and has been the first place to put money because we need the FMCG to go. But it looks like there is some pushback from the organised sector. I do not know whether it is actually getting replaced by the unorganised sector or if there are new players, because we are seeing downtrends in Lever, Dabur and other big names.

Vedant Fashions with a target price of Rs 1000. The current market price of Vedant Fashions is Rs 943.25. Vedant Fashions Ltd., incorporated in the year 2002, is a Small Cap company (having a market cap of Rs 22883.18 Crore) operating in Apparels sector.

Avenue Supermarts with a target price of Rs 4700. The current market price of Avenue Supermarts is Rs 4675. Avenue Supermarts Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 302268.76 Crore) operating in Retail sector.

“Market valuations would be one of the key risks for Indian markets, which could lead it to give relatively subdued returns in FY25,” says Sampath Reddy, Chief Investment Officer, Bajaj Allianz Life. In an interview with ETMarkets, Reddy said: “We remain optimistic on the 1) pharmaceutical sector, particularly companies involved in exports of generic medicines on the back of improved pricing environment in the key US market,”. Edited excerpts: We have closed FY24 with double-digit gains. How do you see markets in FY25? Sampath Reddy: The Indian equity markets have fared well in FY24 and have been one of the top-performing markets over the medium to long term as well.

Anand Tandon, Independent Analyst, says “going forward, oil is something that one needs to watch out for. We should be expecting an increase in energy costs because of the fact that despite subdued production, despite the fact that there are global issues which are preventing free flow of oil, despite all of that, the prices were remaining well under control and we had significant cutback in terms of production, I think that will now begin to show up in higher prices as we are already seeing.” It seems the markets are ignoring what is happening in the commodity universe so far. Do you think if crude goes above $90, the equity markets will begin to feel the heat? Anand Tandon: Well, yes, there is no doubt that if the oil prices were to continue to sustain higher, there will be some pressure on the economy. For now, at least, the quarter that has just ended will actually show commodity prices being relatively lower and therefore, most of the manufacturing companies will show increased operating margin.

exchange-rate moves were undesirable, reiterating the government's resolve to take appropriate actions against sharp yen falls. «It's important for currency rates to move stably reflecting fundamentals. Excessive volatility is undesirable. We're looking at market moves with a high sense of urgency,» Suzuki told reporters when asked about the yen's recent declines.

Anurag Thakur said the Centre has set a target to make India 'Viksit Bharat' by 2047 and slammed the previous UPA government over corruption and scams. Addressing IT professionals here on Thursday, he said, "… IT stands for 'India Tomorrow' and what is the target for India tomorrow? The target is to develop India into Viksit Bharat by 2047." Taking a dig at the Congress, the Union Minister said, «Can you imagine 10 years back our countrymen were finding it even difficult to think about freeing themselves from the clutches of corrupt Congress party and its alliance partners where one after another scam took place.» Referring to the various scams during the UPA regime, he said because we have a short memory, sometimes we forget especially those aged between 18 and 22, they were only eight and 10 years old then. «They are not aware of 2G scam or CWG scam… They didn't know about AgustaWestland, Coal scam and all that...»

Bitdeer Technologies Group are planning to ramp up their Bitcoin mining operation to help offset the revenue impact of an upcoming event known as the halving. The partnership between Druk Holding & Investments and Nasdaq-listed crypto mining firm Bitdeer aims to invest in boosting Bhutan’s mining capacity sixfold through the introduction of cutting-edge hardware.

Taxes and death are two of life’s great certainties, we have always been told. The record of both, however, suggests they could also be great oddities, the kind that make jaws drop in wonder. Take taxation, the less morbid of these two.

Indian stock market today: A total of 3 stocks have been banned for trade on Friday, April 5, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they crossed 95% of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

HDFC Bank: The bank announced a 55.4% year-on-year (YoY) increase in gross advances, reaching ₹25.08 lakh crore as of March 31, 2024. This is a significant rise from the ₹16.14 lakh crore reported as of March 31, 2023. On a sequential basis, the bank's advances grew by 1.6%, from ₹24.69 lakh crore in December 2023.

Tesla’s much-anticipated entry into the Indian market, which had been under negotiation for half a decade or so, finally seems to be in acceleration mode. The company will reportedly send executives later this month to scout for sites in India where an electric-car factory with an investment of $2-3 billion could be set up.

Ford Motor Co. on Thursday delayed the production of at least two new electric cars and said it would pivot to making more hybrids. Its decision was the latest sign that large automakers have been forced to rethink their strategy for electric vehicles because sales for those models are slowing. The shift by Ford and automakers such as General Motors and Mercedes-Benz, which have also pushed back their electric car plans, has been prompted largely by the companies' difficulties in making and selling enough electric cars and doing so profitably. Sales of such vehicles are still growing but the pace has slowed sharply in recent months as automakers have tapped out many of the early adopters who were willing to spend more than $50,000 on a new battery-powered car. Because they are still learning how to make the cars and their batteries at lower cost, the companies have not been able to bring out more affordable models.

Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply, and optimism about global fuel demand growth as economies improve. Brent crude climbed 49 cents, or 0.5%, to $91.14 a barrel by 0108 GMT. U.S. West Texas Intermediate crude was at $86.96 a barrel, up 37 cents, or 0.4%.

Samsung Electronics estimated on Friday a more than 10-fold rise in its first-quarter operating profit, as rebounding semiconductor prices lifted earnings from a low base a year ago when there was a severe downturn in chip demand. The world's largest memory chip and TV maker estimated its operating profit rose to a better-than-expected 6.6 trillion won ($4.89 billion) in the quarter ended March 31.

Sensex gained 350.81 points to close at 74,227.63, while the Nifty 50 settled 80.00 points, or 0.36%, higher at 22,514.65. Nifty 50 formed a small negative candle on the daily chart with a long lower shadow. “This pattern indicates presence of strong resistance at the new all-time highs and the sharp buying is emerging from the lower levels.

Who won yesterday IPL Match? Gujarat Titans (GT) clashed with Punjab Kings (PBKS) at home on April 5. It was the fourth match match for both teams. Punjab won the toss and decided to bowl first.

Kendrah Wong should be planning her son’s birthday party. He was supposed to turn 12 on May 8. Instead, Wong is preparing a funeral for her only child after he was killed by two large dogs Monday in Edmonton.

Buy or sell stocks: After showing a range-bound action in the last three sessions, the Indian stock market showed high volatility of up and down swings near new all-time highs on Thursday. The Nifty 50 index gained 80 points and ended at 22,514 level, the BSE Sensex shot up 350 points and finished at 74,227 mark whereas the Bank Nifty index surged 436 points and closed at 48,060 level.

The Canada Mortgage and Housing Corp. is forecasting home prices could match peak levels seen in early 2022 by next year and reach new highs by 2026.

Some Canadian high school girls want to take their “pink tax” fight to the House of Commons, calling on the federal government to scrap an “unfair pricing practice” that research suggests discriminates against women.