UPS Financial News

₹8,600 crore versus ₹4,374 crore for Ashok Leyland. The sheer size of TaMo deserves a valuation premium. Assuming a 10% premium to Ashok Leyland, the FY24 EV/Ebitda multiple of TaMo’s CV business works out to about 12 times, valuing the segment at ₹103,200 crore.

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ALSO READ: Watch | SpaceX Falcon 9 completes its 300th mission, Elon Musk is elated The two-stage Falcon 9 rocket topped with an autonomously operated Crew Dragon capsule dubbed Endeavor was launched from NASA's Kennedy Space Center at Cape Canaveral, along Florida's Atlantic coast, at 10:53 p.m. EST (0353 GMT Monday).

NEW DELHI : Kerala-based auto dealership network Popular Vehicles is gearing up to become the second listed automotive dealer in India, following Landmark Cars’ ₹552 crore public share issue in December 2022. Popular Vehicles’ initial public offering, featuring an offer for sale by private equity firm BanyanTree Capital and a fresh issue of ₹250 crore, is set to open for subscription this month. BanyanTree holds a 34% stake in the company.

In a stock exchange notice today (5 March), the trust said management fees would be charged at 0.75% per annum up to £300m and 0.6% thereafter, based on the lower market capitalisation or net assets. The board said this adjustment is expected to decrease the trust's overall ongoing charges for the financial year ending 31 December 2024 by approximately 17% compared to the previous year.  abrdn head of trusts William Hemmings retires abrdn has also initiated its reinvestment of management fees programme by subscribing to 190,000 shares of the trust as of today, equivalent to approxi...

Investing.com-- Shares of Chinese electric vehicle makers fell on Tuesday, tracking an overnight slide in Tesla Inc (NASDAQ:TSLA) after the world’s most valuable EV firm clocked a sharp sales decline in China. 

The United Nations says that women who run farms and rural households in poor countries suffer more from climate change and are discriminated against as they try to adapt to other sources of income in times of crises

Aston Villa insists the club is operating within the financial rules of the English Premier League despite reporting a loss of 119.6 million pounds in its latest accounts

A federal agency is asserting legal rights to waters that feed the Okefenokee Swamp and its vast wildlife refuge, setting up a new battle with a mining company seeking permits to withdraw more than 1.4 million gallons per day

Investing.com -- U.S. stock futures point lower, with labor market data and comments from the top Federal Reserve policymaker looming later in the week. Tesla (NASDAQ:TSLA) shares slump in after hours trading on falling deliveries of its China-made vehicles, while the price of Bitcoin rises to within touching distance of an all-time high.

The S&P 500 finished lower yesterday, dropping by around ten bps and led lower by Apple (NASDAQ:AAPL), Tesla (NASDAQ:TSLA), and Alphabet (NASDAQ:GOOGL).

Stocks have advanced this year despite higher bond yields and diminishing hopes for rate cuts.

By Scott Murdoch and Clare Jim

China will formulate plans to develop emerging industries including quantum computing and continue striving to achieve self-sufficiency in technology, a government work report said. It will also step up efforts in big data and artificial intelligence (AI) and intends to launch a number of major science and technology programmes to meet major strategic and industrial development goals, the report shows.

Gurmeet Chadha, Managing Partner & CIO, Complete Circle Consultants, says maybe the current upside in Tata Motors could be tapped. But in his view, the way electrification is progressing, if they can demonstrate more, the PV business and eventual listing of EV business will create more value. So long term, it is still constructive. In the short run, the bulk of the positive news probably is getting reflected in this. On Tata Motors demerger. What changes for the investor? Is this a trigger to add positions or just continue holding on? Gurmeet Chadha: A lot of re-rating in Tata Motors has already happened. The stock was around 100 levels during Covid and it has been a 10x turn, a phenomenal wealth creation. That has more got to do with the turnaround businesses. They have reduced debt. For example, the JLR margins went up by 400 basis points last quarter. The overall margin got a boost. In the CV portfolio, the EBITDA margin was up almost 210 to 240 basis points.

paper leaks, Congress leader Rahul Gandhi on Tuesday said his party will not allow anyone to play with the future of students and come out with a concrete plan to make government recruitment process transparent. The issue of paper leak has become a curse not only for the youth of Uttar Pradesh but also for the entire country, he said in a post on X in Hindi. Gandhi was apparently referring to the cancellation of a police recruitment examination in Uttar Pradesh following allegations of the question paper being leaked. The BJP-led state government, which has ordered a re-test, on Tuesday removed the chairperson of the UP Police Recruitment and Promotion Board. In the last seven years, «more than 70 paper leak cases have shattered the dreams of more than two crore students», he claimed and added that this is «wasting precious years of building for the future». This also puts a financial and mental burden on the families of students, the Congress leader said.

Bandhan Mutual Fund has filed a draft document with Sebi for Bandhan S&P BSE Healthcare Index Fund. It will be an open‐ended scheme tracking S&P BSE Healthcare Index. The objective is to replicate the S&P BSE Healthcare Index by investing in securities of the S&P BSE Healthcare Index in the same proportion/weightage to provide returns before expenses that track the total return of S&P BSE Healthcare Index, subject to tracking errors. The performance of the scheme will be benchmarked against S&P BSE Healthcare Index TRI. It will be managed by Nemish Sheth.

Sriram Iyer, CEO, Apollo Health & Lifestyle, says “more than 80% of the diagnostics market is still unorganised, less than 20% is between the national and the regional players. There is definitely headroom for growth and the prospects look brighter and the awareness is really going up. Preventive health check is becoming the key now and there is a lot of work happening in the healthcare space for consumers to become more aware.” Given the lots of tugs and pulls and a wrestling of a larger share volume that continues to remain high, the price competition may have cooled off a tad. What is your diagnosis of the industry as a whole? Sriram Iyer: So, as rightly said, the prospects are quite good for the industry. There are two things. Obviously, the penetration of healthcare is quite low. Diagnostic is the first point of really getting checked before you get into further treatments in healthcare.

Tata Sons, the holding company of the Rs 30 lakh crore conglomerate, grows louder, investors have already started betting on Tata Chemicals which could be the biggest beneficiary of the mega IPO. Shares of Tata Chemicals rallied 8% to the day's high at Rs 1,084.80 on BSE on Tuesday. Classified as an upper-layer NBFC last year by RBI Tata Sons must list itself on stock exchanges by September 2025. It was last year reported that Tata Sons could be worth Rs 11 lakh crore and a 5% stake sale would lead to an IPO size of about Rs 55,000 crore.

FSN E-Commerce Ventures are expected to witness their next leg of performance riding on margin improvements which will be akin to Zomato, according to estimates by Nuvama. The domestic brokerage reiterated its buy rating on the Nykaa operator while marginally raising the price target to Rs 192 from Rs 189, as suggested earlier. Zomato, which is purely a platform play versus Nykaa, an omni channel retailer, draws similarity in terms of online transacting users remaining the key TAM (Total Addressable Market), Nuvama said while suggesting that their unit economics also have similar drivers.

Bajaj Holdings & Investment Ltd. slipped 1.45 per cent to Rs 8718.8 in Tuesday's trade as of 01:55PM (IST). The stock hit a high price of Rs 8860.6 and low of Rs 8687.3 during the session. The return on equity (ROE) for the stock stood at 10.97 per cent. Traded volume on the counter stood at 01:55PM shares and turnover at Rs 0.45 crore around that time. The stock of Bajaj Holdings & Investment Ltd. quoted a 52-week high price of Rs 9355.0 and 52-week low prices of Rs 5791.05, respectively.