UPS Financial News

More than 96 crore Indians are registered to vote at over one million polling stations across the country in a mammoth electoral exercise with 2,400 political parties that may contest, and during which Indian Prime Minister Narendra Modi will bid for a rare third term. The Election Commission could announce in weeks the dates for general elections that Modi is widely expected to comfortably win.

One of the key updates is the battery performance. All 2024 Q4 55 e-tron models now come with an 82 kWh (gross) battery, providing 77 kWh of net energy. Audi engineers have optimized the cell chemistry to increase the DC fast-charging capabilities. This means that under normal conditions, the battery can go from 10 to 80 percent in just 28 minutes. The Q4 55 e-tron quattro now has a maximum DC charging power of 175 kW, up from 150 kW in the Q4 50 e-tron. The e-tron's route planner also prioritizes public DC fast-charging facilities and ensures the battery is ready to charge quickly once connected. In terms of range, the updated Q4 55 e-tron offers an EPA estimated range of 258 miles, which is 22 miles more than its predecessor, the Q4 50 e-tron SUV. The Q4 55 e-tron is also equipped with an updated electric motor on the rear axle for higher efficiency and power. With a maximum of 335 horsepower, it can go from 0 to 60 mph in just 5 seconds.

bike taxi services owing to what the Congress regime sees as an apparent lack of encouraging response from ride-hailing services to offer services with electric two-wheelers and gross misuse of the present policy. Transport department has withdrawn the Karnataka Electric Bike Taxi Scheme, notified on July 14, 2021. ET had on February 9 reported the government planned to end the bike taxi scheme in the state.

China's unfair economic practice, standing up for peace and stability across the Taiwan Strait and revitalising its partnership with nations like India, US President Joe Biden has said. In his last State of the Union address before the November election, Biden said the US wants competition with China, but not conflict. Biden on Thursday told Americans that the country is in a stronger position to win the competition for the 21st Century against Beijing.

New Mexico’s State Land Office will withhold lease sales indefinitely on its most promising tracts for oil and gas development in the Permian Basin as it seeks approval by the state Legislature to increase top-tier royalty rates

Japan's and India's foreign ministers have agreed to step up security and economic cooperation as the two Asian countries look to boost their ties in the face of China's growing influence in the region

The nation’s economy likely produced another month of healthy hiring in February, once again brushing aside the effects of high interest rates with unexpected ease

Japan’s ancient capital of Kyoto has long been a popular destination for tourists, but visitors will no longer be able to venture into some private-property alleys in the city's famous geisha district

International Women's Day: On the occasion of International Women’s Day, Bank of Baroda has announced attractive offers and benefits for its women accountholders on the opening of either a bob Mahila Shakti Savings Account or a bob Women Power Current Account – accounts designed specifically for women. This offer is applicable for accounts opened till June 30, 2024 and loan facilities availed till December 31, 2024.

By Trevor Hunnicutt, Jarrett Renshaw and Nandita Bose

Congress Central Election Committee has cleared the first list of about 60 party candidates for the Lok Sabha polls, including Rahul Gandhi from his sitting seat Wayanad. The list is expected to be released on Friday or Saturday. The CEC will decide the question of Rahul Gandhi also contesting from Amethi when it takes up the proposals for Uttar Pradesh later. After the CEC meeting ended late Thursday night, party sources said almost all 15 sitting Congress MPs of Kerala will fight again this time. The only exception may be in Thrissur from where sitting MP TN Pratapan could be replaced by sitting MP of Vadakara K Muralidharan. This as seen as a precaution against late Congress veteran K Karunakaran's daughter Padmaja Venugopal, joining BJP and reinforcing the party's best bet Sureshgopi's chances in Thrissur. The political heavyweight Muralisharan is the son of Karunakaran besides being a former PCC president. Another significant decision is CEC clearing the proposal of AICC general secretary (org) K C Venugopal, now a Rajya Sabha member, returning to fight from his Alappuzha seat. But if the leaderdhip once again asks Venugopal to focus on AICC organisational matters during election campaign, the seat will go to his nominee from the state Youth Congress.

Godzilla x Kong: The New Empire', the fifth film in Legendary Pictures’ Monsterverse franchise, is set to show the titans teaming up for the second time to combat a new and threatening menace. As the show's release date approached, 'Godzilla x Kong' took to social media site X, formerly Twitter, to release a new teaser trailer for the movie. It features some new footage of Kong as he faces off against the Skar King. Kong does not use his bloody right arm, but the other footage in the video shows him taking on Skar King and his eventual wielding of a mech-arm.

Sarbananda Sonowal, has said that the UNNATI scheme announced by the Union cabinet is a gamechanger initiative by PM Narendra Modi, which is going to boost development of newer industries in the Northeast. Sonowal stated, “The UNNATI 2024 is a gamechanger initiative by PM Narendra Modi ji which going to boost development of newer industries in the Northeast. The vision of our Prime Minister Narendra Modi ji for the region as the Powerhouse of India's economic growth is being realised with this massive initiative for economic growth and huge prospect for employment generation in the region. With a financial outlay of more than Rs 10,000 crores, the Northeast adds another reason for newer investment by manufacturing companies to set up their plants. Modiji's commitment to empower 'Act East policy' through the UNNATI 2024 will not only propel growth in the region but also act as a multiplier for trade and commerce of India with Southeast Asia." The Union Cabinet approved the proposal of the Ministry of Commerce and Industry, Department for Promotion of Industry and Internal Trade for Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024) for a period of 10 years from the date of notification along with 8 years for committed liabilities at a total cost of Rs.10,037 crore.

₹100 in view of International Women's Day. "By making cooking gas more affordable, we also aim to support the well-being of families and ensure a healthier environment. This is in line with our commitment to empowering women and ensuring ‘Ease of Living’ for them," PM Modi wrote on the X platfrom.

Sukanya Samriddhi Yojana: In a bid to promote 'Beti Bachao Betio Padhao' campaign, the central government launched Sukanya Samriddhi Yojana (SSY) in the year 2015. The SSY scheme aims to build a fund for the girl child with the interest accrued on maturity being exempt from income tax under Section 80C of the Income Tax Act. While declaring interest rates of the small saving schemes for the fourth quarter of the current financial year, the central government has declared the SSY interest rate of 8.2 percent.

BSE Sensex ended higher by 33.40 points or 0.05% at 74,119.39 level while the Nifty 50 closed at 22,493.55 level, up 19.50 points or 0.09%. Also Read: Stock market today: Nifty 50, Sensex hit record highs; mid, smallcaps outperform “Next week investors will take cues from the outcome of the European Central Bank (ECB) interest rate meeting and US Non-Farm Payroll data to be released on Friday.

LPG Cylinder Prices: India has cut LPG cylinder prices by a steep 100 rupees per cylinder, a move that will ease cost burden on households across the country in the world's most populous nation that is set to vote for the next government during the summer season. «Today, on Women's Day, our Government has decided to reduce LPG cylinder prices by Rs. 100. This will significantly ease the financial burden on millions of households across the country, especially benefiting our Nari Shakti,» Prime Minister Narendra Modi wrote on Twitter. By enhancing the affordability of cooking gas, the government also seeks to bolster the welfare of families and promote a healthier environment, Modi said, adding this move aligns with New Delhi's dedication to empowering women and guaranteeing their 'Ease of Living'.

Manish Gunwani, Head — Equities, Bandhan AMC, says “there seems to be a fairly significant shift of sourcing from China and other countries to India. The good part is that in a lot of these segments, India has a big domestic market. So the expertise gets built and a lot of the companies are part domestic part exports. So one is just not playing only the domestic capex cycle, especially for the product makers. One is also playing this optionality that in a very big global market, they may become fairly large companies.” You have been talking about capex and infrastructure, stepping into elections. What is your narrative on the entire capex theme? And what happens post that if the government continues, which seems to be likely and the market also seems to be pricing it as of now? In that case, focus would be on private capex picking up because up until now, we have been running on government capex push. Manish Gunwani: This is not a very broad based capex theme like during 2002-2008, both in India and globally. For example, if commodity prices are soft, you cannot expect too much of capex from the steel guys, from the upstream oil and gas guys etc. But there are segments, obviously, like energy transition and power which are doing well.

Rahul Sharma, Director & Head — Technical & Derivatives Research, JM Financial Services, says “the bull market is very much on. Individual stocks may witness correction because there was definitely a lot of euphoria and over-optimism, especially in smallcaps. So, there we are seeing pullbacks happening. But once the largecaps are done with, the second leg of the rally could very well spill over to the mid and smallcaps which is where we might see another rally happening, possibly in April and ahead.”

Asian stocks rose to a seven-month peak on Friday, tracking global peers as investors cheered the prospect of an imminent rate easing cycle led by major central banks, keeping the dollar and Treasury yields under pressure. Japan remained an outlier as expectations mount that the Bank of Japan (BOJ) could finally exit negative interest rates this month. That lit a fire under the yen and sent domestic bond yields rising.

By Katya Golubkova