UPS Financial News

MphasiS Ltd. traded 2.16 per cent up at Rs 2429.75 on Wednesday at around 10:25AM (IST), while the benchmark BSE Sensex advanced 496.55 points to 72966.85. As many as 3,228 shares changed hands on the counter with a total value of Rs 0.78 crore.

Rajshree Sugars & Chemicals Ltd.(up 3.84%), Simbhaoli Sugars Ltd.(up 3.76%), Uttam Sugar Mills Ltd.(up 1.64%), Bannari Amman Sugars Ltd.(up 0.60%), KCP Sugar & Industries Corporation Ltd.(up 0.30%), Sakthi Sugars Ltd.(up 0.17%), Dwarikesh Sugar Industries Ltd.(up 0.14%), Shree Renuka Sugars Ltd.(up 0.13%) and Triveni Engineering & Industries Ltd.(up 0.11%) were among the top gainers.

Tesla to start manufacturing in India, ensures that the king of Indian EVs and the king of American EVs drive in separate lanes but Tata Motors and Tesla may race against each other in the luxury car segment. Posing competition risk to a few of the upcoming models of M&M and Tata Motors at the upper end of the SUV market, the policy allows 8,000 units of electric vehicles above $35,000 (Rs 29 lakh) to be imported annually at lower duty of 15% vs 70-100% currently for 5 years against an investment of $500 million for local manufacturing.

Benchmark NSE Nifty index rose 148.6 points to 22153.3 amid buying in frontline bluechip stocks.

Indian Oil Corporation Ltd. traded 1.49 per cent up at Rs 170.0 on Wednesday at around 10:20AM (IST), while the benchmark BSE Sensex advanced 500.64 points to 72970.94. As many as 691,285 shares changed hands on the counter with a total value of Rs 11.77 crore.

Hemang Jani, Independent Market Expert, says “InterGlobe is in a position that HDFC Bank probably was in maybe 8-10 years back where people questioned the valuations but the company kept on delivering and it became one of the best wealth creation stories. Of course, what happened in the last two years is a different story, but given the positioning that InterGlobe has and the way they have managed the volatility in the crude oil price, the way they have managed to grab the international routes and the market share trend, there is a long way to go.”

Bhikaji Thakor from Sabarkantha has stirred up a hornet’s nest in the Lok sabha constituency. The Meghraj town in Aravalli district observed a bandh in support of Thakor on Tuesday and the party workers in large numbers reached the BJP office in Modasa to protest necessitating strong security arrangements. BJP has fielded Shobhna Baraiya, wife of Mahendrasinh Baraiya who is a former Congress MLA and joined BJP in August 2022.

BALTIMORE—The crew of workers from Mexico and Central America were well into their graveyard shift, pouring concrete to fix the potholes that dotted the Francis Scott Key Bridge. The job could be dangerous in the daytime, let alone at night. The bridge, suspended up to 185 feet above the Patapsco River, would sway with passing tractor-trailers.

Baltimore bridge collapse: US says ‘path to normalcy will not be easy’ There was no indication of terrorism, police said. The metal truss-style bridge has a suspended deck, a design that contributed to its collapse, engineers say. The ship appeared to hit a main concrete pier, which rests on soil underwater and is part of the foundation.

₹6,341.90 apiece after the global brokerage firm UBS in its latest report lifted the target price on the stock to ₹7,550 apiece from an earlier price target of ₹5,380, citing a high double-digit growth across domestic and export orders from motion and low-voltage EP segments with a steady ramp-up in OPMs. It expects order inflow growth of 23% during 2023–26E, with revenue growth of around 21% on a 23% earnings CAGR.

CDSL) on Wednesday fell up to 6.4% to the day's low at Rs 1,675 on NSE amid a large block deal in which Standard Chartered Bank is believed to have sold its entire shareholding in the company. Investment banker JPMorgan had last evening issued a term sheet for a block deal in which Standard Chartered Bank offered to sell its entire 7.18% stake at a floor price of Rs 1,672 per share.

Deepak Shenoy, Founder, Capital Mind, says “most of the government contracts will start flowing in only after the budget in July this year. Things may halt for PSUs before that. So, keeping that in mind, we are still very positive on the overall India story, not so much on the export story, not so much on the FMCG story.” What are you betting on now? Where are you seeing that you could find some value? Deepak Shenoy: Honestly, we have had a bit of an interesting year. January was very good for the small and midcaps, and okay for the largecaps. The largecaps have kind of made it up in the last couple of months while small and midcaps have retreated. But in general, we are seeing this quarter itself as more or less a flattish kind of quarter overall. But the results which will start coming in April should show, at least certain sectors start to show a lot more interest in both the commentary and the numbers.

Steel Authority of India (SAIL) stock is under the F&O trade ban on Wednesday. The MWPL for SAIL stood at 86.2% on Tuesday with OI reported by Trendlyne at 58.3 million. It was down 10.5% from the previous session.

Indian shares surged in early trade on Wednesday, driven by the strong performance of index heavyweight Reliance Industries and financial stocks. The BSE Sensex was trading 326 points or 0.45% higher at 72,653. Nifty50 was trading at 22,070, up 65 points or 0.30% at around 9.30 am.

Jerry Bruckheimer announced the plan for making its sequel and confirmed later that the iconic star will return as Maverick for 'Top Gun 3'.

East Coast, creating delays and raising costs in the latest disruption to global supply chains. After the container ship Dali hit the bridge and brought it down early Tuesday, ship traffic entering and leaving the Port of Baltimore was suspended indefinitely. That will require rerouting vessels or their cargo to other ports, potentially causing congestion and delays for importers, said Judah Levine, head of research for the global freight booking platform Freightos.

Short sellers are still betting billions of dollars that the rally in cryptocurrency-linked stocks fueled by a surge in Bitcoin will eventually end. Total short interest, or the amount that contrarian traders have pledged against crypto stocks, has increased to nearly $11 billion this year, according to a report from S3 Partners LLC on Monday. More than 80% of total short interest in the sector are bets against MicroStrategy Inc. and Coinbase Global Inc.

volatility in equities likely to be high, money managers believe investors should stagger their investments into equity mutual fund schemes. Fund houses offer various options for staggered investments such as a daily, weekly or monthly systematic transfer plan (STP) from a debt-oriented scheme like a liquid fund or ultra-shortterm fund to the chosen equity fund. WHEN SHOULD AN INVESTOR OPT FOR A SYSTEMATIC TRANSFER PLAN (STP)? Investors who believe that the long-term earnings growth story is intact, but fear high volatility in the markets due to events such as elections or valuations being slightly ahead of fundamentals can use STPs. Typically such investors have lump sum money and want to invest in equity mutual funds, but in a staggered manner, and simultaneously earn a small return by investing in liquid/ultra short-term schemes. HOW DOES IT WORK? An investor looking to invest say Rs 1 lakh into an equity fund using STP will have to first choose the liquid or ultra-short-term fund and make an investment there. Once that is done, choose an equity scheme and decide on the amount to be transferred along with the frequency of transfer and set up the STP. Both the source and the destination schemes should be from the same fund house. Most fund houses have a daily, weekly or monthly option to transfer money. For example, an investor can decide to transfer Rs 2,500 every week to an equity fund or even something like Rs 10,000 every month. Mutual fund investment portals too allow you to set these up entirely online.

stocks slipped on Tuesday, giving up modest gains late in the session to send the Dow and S&P 500 to their third straight decline, as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve's policy path. Stocks struggled for upward momentum even as Tesla gained 2.92% after CEO Elon Musk unveiled the electric-vehicle maker's one-month trial of its Full Self-Driving technology to existing and new customers in the United States. The stock is up about 4% for the week but remains down more than 28% for the year.

dollar steadied on Wednesday in the wake of more strong U.S. economic data, nudging the Japanese yen closer to a test of levels that drew official market intervention back in 2022. The yen traded at 151.52 per dollar early in the Asia session, within a whisker of 151.94 where Japanese authorities stepped in during October 2022 to buy the currency.

India’s policy focus on making the country a hub for EV-making will have a side effect. As electric vehicles (EVs) roll off assembly lines, our dependence on Chinese imports will rise, even though we’ve been trying to reduce it. That’s because China, with a head-start of a decade or so, is the global leader of clean-tech in general and this segment of the auto industry in particular.