UPS Financial News

Digant Haria, Co-Founder, GreenEdge Wealth, says once more details of the merger come out, most of the people would like to be in the passenger vehicles part of the demerged business, the one which is doing well and that has a lot of potential. The CV finance division and the CV division, both will be a part of the same entity. That is something which is very, very cyclical and which has given pain to this company in the past as well. So yes, excitement will be there. But the long term story is still with the passenger vehicle part. What is it that you have made of the Tata Motors demerger and what should investors who own Tata Motors shares now look forward to? Digant Haria: The best part about Tata Motors still remains the success in the domestic premium car market. Electric vehicles are still only a story. And China has already taken a big lead in electric vehicles. Even Tesla is struggling. So the story here still is about passenger vehicles and we all know that commercial vehicles (CVs) are deeply cyclical. So once more details of the merger come out, most of the people would like to be in the passenger vehicles part of the demerged business, the one which is doing well and that has a lot of potential.

Bharat Forge Ltd. traded 1.18 per cent up at Rs 1203.7 at 10:20AM (IST) on Tuesday, even as BSE benchmark Sensex dropped 359.87 points to 73512.42. The scrip had closed at Rs 1189.65 in the previous session. The stock quoted a 52-week high price of Rs 1330.0 and 52-week low of Rs 744.0, respectively. As per BSE data, total traded volume on the counter till 10:20AM (IST) stood at 17454 shares with a turnover of Rs 2.09 crore.

SRF Ltd. traded at Rs 2406.9 on BSE at 10:15AM (IST) on Tuesday, up 1.37 per cent from previous close. The stock quoted a 52-week low price of Rs 2050.0 and a high of Rs 2636.65.

LIC Housing Finance with a target price of Rs 755. The current market price of LIC Housing Finance is Rs 664.65. LIC Housing Finance Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 36548.94 Crore) operating in NBFC sector.

Triveni Turbine with a target price of Rs 570. The current market price of Triveni Turbine is Rs 498.2. Triveni Turbine Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 16143.38 Crore) operating in Engineering sector.

Gujarat Gas with a target price of Rs 365. The current market price of Gujarat Gas Ltd. is Rs 587.9. Gujarat Gas Ltd., incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 40480.78 Crore) operating in Gas & Petroleum sector.

By Ankur Banerjee

By Neil Jerome Morales and Mikhail Flores

Bitcoin rallied to a two-year high on Monday, breaking above $68,000 as a wave of money carried it within striking distance of record levels. The price hit a session high of $68,580 and was last at $68,161. Bitcoin hit a record $68,999.99 in November 2021.

dollar held steady on the yuan on Tuesday as markets digested a welter of policy statements out of China, while a rebound in Tokyo inflation seemed to take Japan a step closer to the end of negative interest rates. There was more action in bitcoin, which gained 1.2% to $68,341 after surging more than 7% on Monday. The blockchain asset has benefited from flows into cryptocurrency exchange-traded funds, most notably in the United States.

dollar-pegged stablecoins issued by Tether has crossed $100 billion, the crypto company said on its website on Monday. Tether issues a stablecoin which is designed to maintain a constant value of $1. It is widely used as a way of moving money in cryptocurrency without being exposed to price swings in other cryptocurrencies such as bitcoin and ether.

Philadelphia bus stop on Monday afternoon, police said. The city's police commissioner, Kevin Bethel, said about 15 to 20 students were at a bus stop in the city's Ogontz neighborhood around 3:45 pm when two people walked up and opened fire. Police said people were getting on the stopped bus when the gunfire erupted. Police said one 17-year-old was pronounced dead at a hospital with multiple gunshot wounds to the body. Two 15-year-olds had graze wounds and a 49-year-old woman and a 71-year-old woman on the bus were hit, they said.

China will improve policies supporting childbirth, an official government report said on Tuesday, which also detailed plans to support a growing elderly population by raising benefits and basic pensions and pushing forward a private pension system. The measures come after China's population fell for a second consecutive year in 2023, with new births dropping to about half of those in 2016, while marriages hit a record low in 2022.

Twitter are suing Elon Musk and X Corp., saying they are entitled to a total of more than USD 128 million in unpaid severance payments. Twitter's former CEO Parag Agrawal, Chief Financial Officer Ned Segal, Chief Legal Counsel Vijaya Gadde and General Counsel Sean Edgett claim in the lawsuit filed Monday that they were fired without a reason on the day in 2022 that Musk completed his acquisition of Twitter, which he later rebranded X. Because he didn't want to pay their severance, the executives say Musk «made up fake cause and appointed employees of his various companies to uphold his decision.»

BEIJING (Reuters) — China's services activity grew at a slower pace in February, with business confidence moderating for the second month and firms trimming staff numbers for the first time since November, a private-sector survey showed on Tuesday.

Investing.com-- US stock index futures fell in evening deals on Monday, extending declines in Wall Street as uncertainty over the path of U.S. interest rates saw traders step back from recent record highs. 

By Georgina McCartney

Bonus shares, stock split: Shares of Capri Global Capital Limited, a diversified non-banking financial company, will be in focus when the stock market opens on Tuesday (March 05). The Board of Directors of the company has declared a stock split and a bonus issue for the eligible shareholders. The company has declared a stock split in the ratio of 1: 2 that means from one ₹2 per equity share into two equity shares of ₹1 each, and a bonus issue in the ratio of 1:1.

Exicom Tele Systems IPO: The listing date of the initial public offerings (IPO) of Exicom Tele-Systems Limited has been fixed on 5th March 2024 i.e. today. As per the information available on the BSE website, Exicom Tele Systems share price will be listed on BSE and NSE in a special pre-open session during Tuesday dealings.

Platinum Industries IPO: The listing date of the initial public offerings (IPO) of Platinum Industries Limited has been fixed on 5th March 2024 i.e. today. As per the information available on the BSE website, Platinum Industries share price will be listed on BSE and NSE in a special pre-open session during Tuesday dealings.

Tata Motors, Park Hotels, Platinum Industries, Exicom Tele Systems, IIFL Finance among others will be in focus due to various news developments. Tata Motors Tata Motors announced that it will demerge its business into two separate listed entities housing commercial vehicles and passenger vehicles businesses.