UPS Financial News

Dalal Street – smallcap stocks – as we saw as many as 181 of them turning multibaggers. What’s worth noting is that more than 100 of these smallcap stocks went through a bad phase in the preceding financial year. So, FY24 became a turnaround year for many of them.

Karan Taurani, Senior VP, Elara Securities, says “the T20 World Cup is in the month of June and we have IPL as well. So, on a QoQ basis, we will see that delta for Zomato. As far as QSR companies are concerned, there is not much of a big respite because the market is getting fragmented, the QSR companies are seeing pressure in terms of growth and in terms of delivery contribution, only 30-40% percent of their revenues comes from delivery. I think it is a bigger delta for Zomato versus the other QSR companies.” Given that it is increasing every year, what is the valuation story you see for IPL? Where do we see it headed because it has become so expensive now? Karan Taurani: I think valuations depend on revenue potential and revenue potential has multiplied for the franchise teams. Plus, the number of teams has also gone up. We had about eight teams, now we have ten. The number of matches has gone up by 20%. I am saying the reasons for valuations growing are these reasons as well.

Kalpen Parekh, MD & CEO, DSP Mutual Fund, says “we felt that prices are maybe a year ahead of what they should be and part correction has happened, let us say, in the last two-three weeks, but we do feel that even today when we look at our portfolios, we would be happy with some more consolidation either in terms of time or if there is some more price fall, our conviction to buy the same set of good companies with the next five-year horizon would go up significantly. But we would still say it is time to be cautious, time to be more diversified and time to be more asset allocated rather than chasing only one bucket.” You and your team are putting out some great data. In fact, it is just not garnering assets but also educating the ecosystem and learning which I really appreciate about your house. You called out on the froth in small and midcaps very early on. In fact, the buzz may have gotten louder in the last two weeks, but the melting of the indices started in the first or second week of February. Do you think the adjustment is done or not entirely?

Joe Biden is poised to contest the 2024 Presidental Election and faces criticism for backing Israel's wat at Gaza, a group of protesters disrupted Jill Biden's speech during the Human Rights Campaign's 2024 Los Angeles Dinner, reports 'Variety'. As soon as the first lady took the stage, a group of people who had made their way into the dinner began to chant «cease-fire now.» One of the protestors held up what looked like a blanket or shawl with writing on it. Earlier in the night, protestors blocked the way leading to the hotel's entrance on Avenue of the Stars.

Bollywood movie witnessed a surge in collections over the weekend and is expected to continue its strong run on Monday due to the Holi festival. Also Read | Google Doodle celebrates Greece National Day 2024 According to reports from Sacnilk.com, the Excel Entertainment production minted an impressive ₹2.85 crore on Sunday, taking its total collection to ₹7.10 crore net in India after three days of its theatrical release.

Asian equities traded within narrow ranges early Monday as investors looked ahead to a busy week of economic data including the Federal Reserve’s preferred inflation gauge. China’s currency pared some of Friday’s losses following support by authorities. Shares in Australia and Hong Kong edged higher, while those in Japan and mainland China slipped. US equity futures were little changed after a muted end to the week on Wall Street with the S&P 500 declining 0.1% and the Nasdaq index rising by the same margin on Friday.

“One of the important risks to the macro environment this year is rupee depreciation and consequently its impact on CAD,” says Dr. Poonam Tandon, Chief Investment Officer at IndiaFirst Life. In an interview with ETMarkets, Tandon said: “Another challenge is the monsoon (if it's going to be a normal one with good spatial distribution) as food prices are already at elevated levels,” Edited excerpts: It has been a volatile month so far – what is fueling volatility in the markets? Dr Poonam Tandon: This month has been volatile for equity markets as a few announcements by the regulators caught the market by surprise – be it restricting IIFL Finance to disburse fresh gold loans followed by restriction on JM Financials for IPO financing and later the ED raids as reported in the media.

Elon Musk’s long courtship of Indian officialdom may have finally paid off. Prime Minister Narendra Modi wanted him to open one of his Tesla “gigafactories” in the country, as part of its efforts to expand its long-moribund manufacturing sector; Musk, meanwhile, wanted India to address tariffs on electric vehicle imports that rendered foreign-made Teslas uncompetitive. On March 15, the government announced a new scheme to promote investment in EVs. Any company willing to invest $500 million in a new manufacturing facility that begins production in three years (and with at least a quarter of its components added locally, to begin with) will also be allowed to import 8,000 high-end vehicles a year at a lower tariff of 15%. It’s generally assumed that this quid pro quo will be enough to get Musk — and, hopefully, one or two other companies, like Vietnam’s Vinfast Auto Ltd. — to bite. Certainly, the EV producers that currently dominate the Indian market are already bracing for competition. On the one hand, this looks like business as usual. Officials have made a habit of using the supposed potential of the domestic market as an inducement for foreign investors. The stick of high tariffs together with the carrot of possible consumer demand growth should be enough to lure in people like Musk, they think.

In the summer of the year 416 BCE, an Athenian naval fleet turned up on the island of Melos and demanded that its population submit to slavery. The Melians argued that since they had refused to side with Sparta—Athens’ main adversary in the ongoing conflict —and instead wished to remain neutral, it would only be right for the big powers to leave them alone.

Edited excerpts: I would interpret this as each regulator doing what they are doing in terms of good housekeeping and making sure that rules are followed. Making sure that disclosures are adequate, and processes are in place. I don't know if there is a master plan which is suddenly combining everything together, but I would say each of the regulators in their domain is doing things.

Tata Motors, as well as luxury carmakers like Mercedes-Benz and Audi, are all gearing up to roll out an array of EV models over the next few years. Mahindra & Mahindra, for instance, is set to introduce five new battery electric vehicles starting from January 2025, built on its innovative INGLO platform. Nalinikanth Gollagunta, CEO of the Automotive Sector at Mahindra & Mahindra, highlighted the company's strategy to capture a significant portion of the electric vehicle market, aiming for 20-30 percent of its portfolio to be electric by 2027.

BENGALURU : Amid a downturn in the software-as-a-service (SaaS) market, marked by declining sales and delayed purchases, innovation-led differentiation has emerged as a key challenge for most SaaS firms, globally, including in India, a top executive at Lightspeed said in an interview. Hemant Mohapatra, a partner at Lightspeed, focussing on SaaS, enterprise infrastructure, crypto, and space and satellite investments, said with rising competition, the sector has become crowded with “hundreds, if not thousands, of companies going after the same set of customers". Around 80% of the SaaS market is now saturated, with every category witnessing several alternatives over the past two decades of the internet, he added.

March 22 this year, marking the return of the students' union after a four-year hiatus. Here are the top ten updates about the JNUSU results: 1. In the polls that happened after a hiatus of four years, Dhananjay from the All India Students' Association (AISA) won the JNUSU president's post by securing 2,598 votes against the Akhil Bharatiya Vidyarthi Parishad's (ABVP) Umesh C Ajmeera who secured 1,676 votes.

Based on initial test outcomes, some funds have seemingly come out with flying colours. These funds will be able to offload a quarter or even half of their holdings within a matter of 2-3 days, if the need arises. On the other hand, there are a few surprises. For instance, the SBI Small Cap Fund may take up to 60 days to offload half of its portfolio when under stress (see graphic). These outliers are being perceived as risky. Are investors drawing the right conclusions? Are some funds illprepared for a doomsday scenario? Should you buy or exit a fund based on these test results? We attempt to filter out the noise around the much-hyped stress tests to find out whether investors need to be worried. Fund size matters

Mint. The story begins in September 2023 when Aditya Halwasiya and Halwasiya group company Columbia Petro Chem acquired Cupid, buying a 42% promoter stake for ₹160 crore, and becoming its biggest shareholder. On 20 February, Aditya Halwasiya acquired 13.06% stake in Tourism Finance Corp. for ₹250 crore, becoming its single-largest shareholder.

₹9.76 trillion of the targeted ₹10.88 trillion, according to data from Reserve Bank of India (RBI). In FY23, the ₹7.78 trillion raised from SDLs had fallen short of the targeted ₹9.96 trillion. In a case resembling a year-end sale, 18 states have offered to auction SDL stock for a cumulative ₹60,032.49 crore in the current fiscal’s final weekly auction on 26 March, according to the RBI.

NPCI Bharat Billpay (NBBL), banks and fintech firms are in talks to implement banking interoperability, following central bank approval for the project, said two senior bankers with knowledge of the matter. NBBL could start work on the pipelines to enable such transactions in April, they said. “Currently, conversations are happening with the large participants in the net banking ecosystem to find the right implementation strategy,” one of the bankers said. “The top banks like HDFC Bank, SBI, ICICI Bank are the largest players in this space.”

Physics Wallah will open “as many offline centres as it can” in FY25 even if it erodes profits, founder and chief executive Alakh Pandey told ET. The Noida-based company’s aggressive approach to opening offline centres has not been dampened by the sharp drop in its net profit to Rs 16 crore in FY23 from Rs 98 crore in the previous year.

India units of luxury car manufacturers such as Mercedes-Benz, BMW and Audi may steer clear of the government’s new electric vehicle (EV) policy, which stipulates a sharp cut in import duty on condition that a $500 million investment is made in local manufacturing. The luxury car makers that have already been present in India for decades would rather accelerate local assembly of EV models in the country as the money will need to be ploughed in within three years of receiving approval under the scheme, said auto executives. The aforementioned companies didn’t officially comment on investments under the new policy. Given that luxury car manufacturers have already invested in India through plants and operations, they don’t see much benefit in another large investment for a segment that’s currently less than 2% of the broader car market. Besides, assembling kits in India already allows for a lower duty structure.

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Harsh Jain and Haptik CEO Aakrit Vaish to chair its eight-member governing council in its inaugural elections starting from April 1 for a two-year term. Other members of the newly elected governing council include Vishal Gondal, cofounder and CEO of GOQii; Dhruvil Sanghvi, founder and CEO of LogiNext; Akanksha Hazari, founder and CEO of LoveLocal; Mayank Kumar, cofounder and MD of upGrad; Naiyya Saggi, cofounder of The Good Glamm Group; and Vivek Khemani, cofounder of Quantiphi.