UPS Financial News

Lok Sabha and assembly polls in Odisha, an official said on Monday. The Lok Sabha and the assembly elections will be held in four phases between May 13 and June 1. There will be 37,809 polling stations, including 33,429 in rural areas, in the state, the election official said. Auxiliary polling stations will also be set up where the number of electors exceeds 1,500, he said.

Coming to the buildup of fresh short positions, When the stock prices move downward and open interest on the counter increases, it is taken as a sign of a short build-up. The signal is considered more reliable if the volume on the counter has also seen an increase as the stock price was declining.

Bharat Forge Ltd. dropped 1.3 per cent to Rs 1104.55 at 01:29PM (IST) in Monday's trade. The scrip has hit a high of Rs 1120.0 and low of Rs 1091.0 so far during the session. The stock had closed at Rs 1119.2 in the previous session. The counter has had a total traded volume of 10329 shares so far with a value of Rs 1.13 crore on the NSE. It traded at a price-to-earnings multiple of 53.36 and a price-to-book ratio of 5.35.

Investing.com-- The Bank of Japan (BOJ) is set to conclude a two-day policy meeting on Tuesday, with markets engaging in rampant speculation over what could be the BOJ’s first rate hike in 17 years, as well as the reaction from the Nikkei 225 and the USDJPY to such a move. 

(Reuters) -The week ahead is rammed with rate setting meetings by heavyweight central banks from the U.S. Fed to the Bank of England, from Switzerland and Norway to Mexico. 

Nilesh Shah, MD, Kotak AMC, says “we have advocated to our clients to follow the dharma of asset allocation. If you are leveraged into this market, please sell everything right now and reduce your leverage unless and until you are an exceptionally lucky or exceptionally skilled trader. If you are overweight into equity, this is time to book profit. If you were a brave person who bought during the Covid period, then you can hold on to your positions because you know how to manage risk. If you were that conservative person who sold during Covid period, then please book a lot of profit over here.” Shah also says: “Last year was one two ka three market, largecaps gave about 30% return, mid and smallcap about 60%, and microcap about 90%. Market does not move linearly. Investors who are coming into small and midcap funds should not expect what happened last year will be repeated in the next one year or two years or three years.” Let us talk about the elections and the market given the kind of correlation that we have seen for the last five consecutive Lok Sabha elections with the Nifty rallying between 3% and 21% just a month before the elcection, Now that there is more clarity in terms of the dates, what is your assessment? Nilesh Shah: This time, the market has already discounted the continuity of the government.

Trent Ltd. fell 0.27 per cent to Rs 4048.95 at 01:03PM hours (IST) on Monday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 4,650 shares with a turnover of Rs 1.87 crore till 01:03PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 172.07, while the price-to-book value ratio stood at 18.83.

RCB, the Rajasthan Royals joined in with a meme that quickly caught fire online. In their post, the Rajasthan Royals humorously compared the triumph of the RCB women's team to a scene from the popular TV show "Taarak Mehta Ka Ooltah Chashmah." With this post, the Royals subtly poked fun at RCB's men's team for their prolonged title drought, contrasting it with the women's team's achievement in only their second year of existence. Rajasthan Royals teased Royal Challengers Bangalore with sarcastic Jethalal-Daya meme based on the characters from the popular sitcom.

SBI Cards and Payment Services Ltd. rose 0.17 per cent to Rs 700.35 in Monday's trade as of 12:43PM (IST) even as the benchmark Nifty ruled at 22061.15, up 37.81 points. The scrip had closed at Rs 699.15 in the previous session. The stock quoted a 52-week low of Rs 678.8 and a high of Rs 932.35. The company quoted a market-cap of Rs 66695.63 crore on the BSE.

marriages in China jumped 12.4% in 2023 from a year earlier, reversing a downtrend that has lasted for almost a decade as more youth tied the knot after delaying their nuptials due to the COVID-19 pandemic. The number of newlyweds rose to 7.68 million last year, according to data released by the Ministry of Civil Affairs last week. This was up 845,000 couples from 2022 but still far below the peak of 13.47 million couples hit in 2013.

Cryptocurrency markets were trading higher on Monday, led by Bitcoin, Ethereum, Solana, and Avalanche, ahead of the Fed's policy decisions due this week. Investors await the central bank's policy decisions, due later in the week, as they look for clues into the future global interest rate trajectory.

Snapdragon 8s Gen 3 processor, speculated to be the latest entry-level variant within the Snapdragon 8 Gen 3 family, bearing the model number V2352A. Leaks also suggest that the iQOO Z9 Turbo could boast a substantial 6000mAh battery capacity, promising extended usage without frequent recharges. Speculation is rife regarding the display's refresh rate, with whispers hinting at a possible upgrade to 144Hz from the predecessor's 120Hz, potentially ensuring smoother visuals and enhanced user experience.

₹189.50 crore KP Green Engineering IPO has been oversubscribed heavily led by retail investors. KP Green IPO is an SME IPO that opened for bidding on March 15 and will close on March 19. Today is the second day of bidding for KP Green Engineering IPO.

The Russian crypto mining industry could be set for a $4 billion boost, representatives claimed at a media event in Irkutsk, Siberia.

Canada, one of the favourite destinations of Indian students is not as popular amongst immigrants today as it was 20 years ago, says a recent study. A recent study by Statistics Canada revealed that fewer recent immigrants in Canada are pursuing Canadian citizenship compared to 20-plus years ago, says CIC News. The research, spanning from 1996 to 2021, indicated a nearly 30 per cent decline in citizenship rates among recent immigrants, with the majority of this decrease observed over the past decade.

ICICI Lombard General Insurance Company Ltd. gained 0.53 per cent to Rs 1660.0 at 12:12PM (IST) in Monday's trade. The scrip hit a high of Rs 1660.0 and low of Rs 1647.05 so far during the session. The stock had closed at Rs 1651.15 in the previous session. The counter had a total traded volume of 12:12PM shares so far with a turnover of Rs 0.39 crore on BSE. The stock traded at a price-to-earnings multiple of 44.51 and a price-to-book ratio of 5.03.

Sebi's warning on froth building up in pockets of the broader market, Motilal Oswal has increased the tenure of the holding period for exit load calculation in its smallcap and midcap mutual funds. The exit load for midcap and smallcap funds is changed to 1% if redeemed on or before one year from the date of allotment. Earlier the tenure for this was on or before 15 days. No exit load if redeemed after one year from the date of allotment. The tenure for the same was 15 days earlier.

EPF joint declaration: List of acceptable of documents required to make corrections, updations in UAN profile There are 11 parameters that can be changed by an employee during his or her employment.

Sandip Sabharwal, asksandipsabharwal.com, says “it is important for the froth to go out because there was too much speculation happening in too many segments and although optically the index has hardly fallen, when we talk of the correction on the largecap side the index, there is hardly any fall – 2% off the top. But the real pain has been on the smallcaps and to some extent on midcaps. I would think that valuations in that segment are still somewhat higher. I do not think the entire correction should be over as of now.” Sabharwal further says he is still sitting on 12-15% cash, waiting to see where the entire dust settles because «we have had a correction but there could be some more way to go.» Are we in for a pre-election rally? History tells us that markets in the run-up to the election have rallied. Will 2024 be different? Sandip Sabharwal: It could be different because we have already had a decent size run-up, so if you look at it, one month prior to election is one thing but starting right from October till now, the markets have had a sharp run-up and globally also markets are looking a bit jittery with inflation being sticky and there have been possibilities of a global correction.

«From taking showers to using toilets and washing clothes, we are taking turns to do everything,» she said. It's the only water they can afford. A resident of Ambedkar Nagar, a low-income settlement in the shadows of the lavish headquarters of multiple global software companies in Bengaluru's Whitefield neighborhood, Muthuvel is normally reliant on piped water, sourced from groundwater. But it's drying up. She said it's the worst water crisis she has experienced in her 40 years in the neighborhood.

The Nifty future closed negative with losses of 0.64% at 22121 levels on Friday. India VIX was up by 0.51% from 13.62 to 13.69 levels.