UPS Financial News

wheat procurement from Bihar, Rajasthan and Uttar Pradesh, taking it up to 50 LMT in Rabi Marketing Season (RMS) 2024-25 from last season's 6.5 LMT, said a senior official in the food ministry adding that this will help the government in meeting its procurement target of 310 LMT and restoring the allocation of wheat in various food security programmes. The government which currently sells 75,000 tonnes of atta and rice under its own private label — Bharat Brand — during a weak, is planning to double this in the next fortnight. It has sold 7.06 LMT of wheat and 3.1 LMT of rice under Bharat brand until now. These states (Bihar, UP, Rajasthan) have the potential for production but procurement has been less than expected, the official said, adding that several rounds of meetings have been conducted with food secretaries of these states to help with the target. The government will also make payments to the farmers within 48 hours of procurement.

The blue-chip NSE Nifty 50 was up 0.36% to 22,515, while the S&P BSE Sensex added 0.47% to 74,227.

Mint explains what to expect this fiscal: Land deals were down to a trickle before the pandemic in 2020, when the residential sector witnessed a prolonged slowdown. Since 2021, transactions have seen a steady rise, reaching a peak in 2023, mainly led by the residential sector, warehousing and logistics. The spurt in home sales led to more liquidity among developers, who are building a supply pipeline by investing in acquisition of land across the top tier cities.

Spot gold was down 0.3% at $2,291.88 per ounce as of 10:04 a.m. EDT (1406 GMT), after hitting a record high of $2,304.09 earlier in the day. U.S. gold futures fell 0.3% to $2,308.30.

Arvind Kejriwal on Thursday moved a city court urging it to allow him to spend more time with his lawyer in order to prepare for cases pending against him in several parts of the country. Kejriwal moved the application claiming that two meetings every week with his lawyer, as permitted by the court, was not sufficient since he was facing multiple cases in various states and needed more time for consultation. The AAP leader urged the court to increase the number of meetings to five per week. The application is likely to come up for hearing before special judge for ED cases Kaveri Baweja on Friday.

Lok Sabha, Congress Parliamentary Party chairperson Sonia Gandhi on Thursday started her fresh innings in the Rajya Sabha after she took oath as a member of the Upper House. She will represent Rajasthan in the Council of States by filling the seat that fell vacant after 91-year-old former prime minister Manmohan Singh completed his tenure on April 3. Sonia Gandhi will be the second member of the Gandhi family to enter the Rajya Sabha after former prime minister and her mother-in-law Indira Gandhi, who had a two-and-a-half-year tenure (from August 1964 to February 1967) as a member of the Upper House. Congress leaders Mallikarjun Kharge and Priyanka Gandhi Vadra were present when she took oath in Hindi in the presence of Vice President and Rajya Sabha Chairman Jagdeep Dhankhar.

Income Tax department on Thursday said ITRs 1, 2, 4 and 6 have been made available on e-filing portal from April 1, 2024, and about 23,000 returns have already been filed for the 2023-24 fiscal year. This is for the first time in recent years that the Income Tax department has enabled taxpayers to file their I-T Returns on the first day of the new financial year and, is a step towards ease of compliance and seamless taxpayer services. ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers. ITR-2 is filed by people having income from residential property). In a statement, the Central Board of Direct Taxes (CBDT) said it has facilitated taxpayers to file their Income Tax Returns (ITRs) for the 2024-25 Assessment Year (relevant to Financial Year 2023-24) from April 1, 2024.

In recent trading, Bitcoin (BTC/USD) dipped to $65,394, down by 0.75%, prompting speculation about its next move.

Argentina’s top financial regulator says that it wants to “work together” with the nation’s crypto industry as it steps up its control over the sector. In an official government release, the National Securities Commission of Argentina (CNV) called its new registry of crypto exchanges and service providers “simple.”

Gurbir Grewal, the Director of the United States Securities and Exchange Commission (SEC)’s Division of Enforcement, took aim at the crypto sector for its “significant non-compliance” regarding crypto regulations Wednesday morning during remarks at Practicing Law Institute’s annual SEC Speaks event.

America’s career conspiracy theorists floated the notion that Taylor Swift would use her mass clout at the Super Bowl to endorse Joe Biden. Coming off a year of astonishing sales for her music and concerts, and with a net worth estimated at $1.1 billion, Ms. Swift presumably was the world’s greatest celebrity moneymaker, until she dropped to No.

To get an idea of the financial toll extreme weather is taking on this country’s agriculture industry, look no further than the government of Saskatchewan’s books.

Dollarama Inc. raised its quarterly dividend by nearly 30 per cent as it reported its fourth-quarter profit and sales rose compared with a year ago.

CRISIL Market Intelligence and Analytics, said. “In the near term, owing to a prediction of high temperatures over an extended period, summer crop sowing which largely comprises cereals like bajra and maize, pulses like moong, and vegetables like cucurbits and melons are expected to be negatively impacted following lower reservoir levels across key states like UP, Bihar, West Bengal, Chhattisgarh, AP, Karnataka and Tamil Nadu," Sharma added.

ALSO READ: IPL 2024: Ravi Shastri lends support to Hardik Pandya after Mumbai Indians' third loss, says, 'just be patient...' As MI got a day gap for their clash against Rishabh Pant-led Delhi Capitals, it is expected that the booing and jeering may stop or tone down. But if by any chance, MI loses the match, it may hurt Pandya. It is still unexpected on how Sanjay Manjrekar's recent 'behave' warning created an impact, but former Australia captain Michael Clarke revealed Hardik is actually in a better space to what the belief is, adding, that MI needs to win matches.

BENGALURU : Real estate developer Prestige Group has acquired 21 acres of land in Bengaluru's key tech corridor, Whitefield, for ₹450 crore. The acquired land has been earmarked for a residential development spanning approximately 4 million sq ft, which will feature 1,800 apartments. This marks the second significant land purchase by the Bengaluru-based developer this year, following its acquisition of 62.5 acres in Indirapuram Extension, Ghaziabad, in March, at a cost of ₹468 crore.

A diplomatic standoff with China over border issues since 2020 has resulted in an accelerated push for curbing imports and boosting local supply chains. China is the world's largest exporter of solar modules.

Telangana government is holding discussions with Tesla by putting in all efforts to establish their plant in the state, Industries Minister D Sridhar Babu said on Thursday. In a message on X Sridhar Babu said since December 2023 the state government has been actively focusing on major investment opportunities by global giants, and as part of its focus, Tesla's planned investment initiatives in India are also being tracked. Read More: Tesla begins making cars in Germany for export to India this year: Sources

office demand in the IT city remained flat at 3.5 million square feet, a report by Knight Frank has said. Sales Decline in Affordable Segment “The less than ₹50 lakh housing segment saw sales decline by almost 65% to 70% in the first quarter of 2024 which has brought down the overall numbers. The sales in the ₹50 lakh- ₹1 crore residential segment has dipped by 7 percent. This is primarily on account of the affordability challenges faced by buyers of this segment. This may be a temporary blip,” said Vivek Rathi, head of research at Knight Frank India, at the launch of the Knight Frank titled India Real Estate: Office and Residential Report (January — March 2024).

SIBUR, Russia’s largest producer of plastics and rubbers, is collaborating with Indian businesses to process plastic waste. At the end of last year, EcoPartners, co-founded by the Indian entrepreneur Gaurav Sood, opened the largest plant in Russia for recycling plastic packaging waste. The plant has been gradually ramping up to its full capacity of 40 thousand tons per year. Called Total Cycle, the plantis located in the Tver region, which is between Moscow and St Petersburg – two major Russian cities that produce a large volume of waste. Total Cycle processes plastic packaging waste into secondary raw materials, including PET flakes.

EV manufacturing in India. In an interview with Bloomberg, Rajesh Kumar Singh, the secretary of department for promotion of industry and internal trade said that now it's up to Elon Musk’s Tesla to make the announcements of their manufacturing plans. “We will help them out in terms of giving them the contacts at state level.