UPS Financial News

By Gram Slattery

Buy or sell stocks for today: The Indian stock market extended its rally in the special trading session on Saturday last week. The Nifty 50 index added 39 points and ended at 22,378 level, the BSE Sensex went up 60 points and closed at 73,806 mark whereas the Bank Nifty index finished 10 points higher at 47,297 level.

Mint amid the frenzy in many of these stocks. The founder of GQuant Investech believes that Sebi is right in sounding the alarm bells about the froth in the small-cap space , even as these warnings are being cheerfully ignored by the market.

Also Read: Week Ahead: Macro data, FII activity, global cues among key market triggers as Nifty 50 eyes 22,600 this week The Indian bourses, BSE and National Stock Exchange (NSE), held a special live trading session on Saturday, March 2, to assess the resilience of their disaster recovery systems. On Saturday, the stock market indices ended with marginal gains after hitting record highs during the day. The Sensex gained 60.80 points, or 0.08%, to close at 73,806.15, while the Nifty 50 settled 39.65 points, or 0.18%, higher at 22,378.40.

₹56,000 crore in Adilabad. This move targets the power, rail, and road sectors, aiming to juice up infrastructure and energy supply. During his visit, PM Modi will launch the enhanced Sanathnagar - Moula Ali rail line, now with double tracks and electrification, plus six new station buildings in Ferozguda, Suchitra Centre, Bhudevi Nagar, Ammuguda, Neredmet and Moula Ali Housing Board stations.

Indian stock market today: Only 1 stock has been banned for trade on Monday, March 4, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The stock has been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stock will be available for trading in the cash market.

PTI reported. Fortunately, there have been no reported casualties from any of the avalanches thus far.

NEW DELHI : The growth in private investments in fixed assets cooled in 2022-23 after a rebound in the year before when it recovered from a pandemic-induced contraction, official data showed. Unless exports revive and wage growth fuels domestic consumption, private investments may not improve in the coming year either. Private investments in fixed assets rose 6.4% in real terms in 2022-23 to ₹19.7 trillion at 2011-12 prices, after a 16.4% growth in 2021-22.

NEW DELHI : Mukesh Ambani-led Reliance Industries Ltd (RIL) is looking to enter pumped storage projects (PSP) for hydro power as it focuses closely on clean energy, two people aware of the plans said. The company's subsidiary Reliance New Energy is scouting for sites for the projects, the people cited above said on condition of anonymity. PSPs use cheap green power during off-peak hours to lift water to a height and release it into a lower reservoir to turn turbines that generate electricity when the demand for electricity goes up.

Stock Exchange has catapulted it to becoming the best- performing listed bourse in the world in the past year. Continued surge in trading volumes and signs of its equity derivatives segment picking up have driven shares of Asia's oldest stock exchange by over 400% from the same period a year ago. BSE shares, which are listed on the National Stock Exchange, closed at ₹2352.45 on Saturday. The stock hit an all-time high of ₹2,598.95 on February 5. BSE shares' 430% gains in the past year far exceeds the 35% upmove in US-based Intercontinental Exchange (ICE), the second-best performer in the pack

Goswami Infratech, a Shapoorji Pallonji Group company, has proposed to repay ₹7,000 crore or half the debt raised through non-convertible debentures (NCDs) last year, even as it stares at a sharp jump in coupon payments by the end of this month if it doesn't complete the sale of its Gopalpur port. As part of its debt repayment strategy, Goswami Infratech has floated a plan to repay debenture holders with ₹7,000 crore, leveraging the monetisation of Afcons Infrastructure, according to a consent note sent to existing holders of 18.75% bond maturing in June 2026.

Google Play Store have started complying with the internet giant’s billing policies, founders and executives at Indian internet firms said the fight between them and Google is far from over. On the one hand, Indian companies have called for a “strategic response” from the government on what they claim to be monopolistic behaviour by the US tech major. On the other hand, Google has said its actions against the ten companies are only to make the ecosystem “fair” for a “vast majority” of developers who comply with its norms.

Sean Ellis is famed for coining the phrase “growth hacking” back in 2010 to showcase how technology upstarts rapidly grow their customer base. Ellis’s book ‘Hacking Growth’, co-authored by Morgan Brown, is a playbook for companies pushing for sustainable growth, derived from his experience of working at startups like Dropbox, Eventbrite, Lookout in their early stages. ET sat down with Ellis on the sidelines of Bangalore Growth Fest hosted by marketing services firm IncrementumX to discuss his plans in India, the growth-at-all-cost mindset among startups, and tech valuations. Edited excerpts. How did you come up with the phrase growth hacking? Back in 2010, I wrote a blog post where I recommended hiring a growth hacker for startups. Somebody needs to be focused on getting people in the door to have experiences with the product and build a brand. In a startup, you don't have that luxury, so trying to scrutinise every single activity you do, every single dollar you spend can impact your ability to acquire and retain customers. Then Andrew Chen (general partner and venture capital fund Andreessen Horowitz) wrote a blog post around six months later… where he said growth hacker is the new VP of marketing. That’s when it took off.

quick commerce platforms–Zomato-owned Blinkit and Mumbai-based upstart Zepto--are fast entering ecommerce territory and are set to add several categories like fashion, beauty, electronics, toys, home and kitchen among other segments. Meanwhile, Zepto, the first unicorn of 2023, has hit $1 billion in annualised gross sales as of the latest numbers, people aware of the matter said. These platforms will add thousands of new SKUs in the next two months, taking the number to over 10,000 as they see consumers coming for frequent purchases driving commerce through the platform. Going beyond grocery and staples will increase the scale of quick commerce significantly, impacting both established ecommerce rivals Flipkart and Amazon as well as nearby kiranas, people aware of the plans said. These platforms are also adding more muscle to their logistics networks in order to serve a wide range of products and ensure they are connected to dark stores and available for deliveries. From two years ago–when quick commerce was starting to take shape in India–this is a significant expansion in strategy carrying a big number of SKUs for faster delivery timelines.

SYDNEY (Reuters) — New Zealand's central bank on Monday said banks must report major cyber incidents within 72 hours, as it plans to implement formal cyber reporting requirements in phases through this year.

STOCKHOLM (Reuters) — Alecta's chairperson Carina Akerstrom has resigned only a week after she started in the position, the Swedish pension fund said on Sunday, adding it had reinstated its former interim chair.

By Marc Jones, Xie Yu and Scott Murdoch

Amazon Prime Video. Fans can expect a gripping continuation of the story, with new characters and intense plot developments.

IFFCO has moved the NCLT against Swan Energy Ltd (SEL) and their joint venture Triumph Offshore to restrain their JV firm from passing any resolution without its approval and issuing any share/security to the lenders against loans. Seeking an injunction against any such proposal, IFFCO, in its petition filed before the Ahmedabad bench of the NCLT, alleged that Triumph Offshore is pre-paying the debt, which may result in dilution of its shareholding in the joint venture firm and is detrimental to its interest. IFFCO has moved the NCLT under sections 241 and 242 of the Companies Act 2013, alleging oppression and mismanagement. It has prayed to restrain Swan Energy and Triumph Offshore «from passing any board resolution without the prior written approval of petitioner (IFFCO), with reference to the substitution of the bank term loan with promoters loan or from issuing any shares/security or any instrument convertible into equity in favour of R2 (SEL) or any third party, which may result into diluting shareholder of the petitioner».

Samara Capital, along with a consortium of investors including Convergent Finance, is setting up a roll-up platform for packaged foods for which it has earmarked $150 million. It will explore M&As in mid-sized packaged foods as bolt-on or tuck-in acquisitions, pursue organic growth, and sign licensing deals to bring global food brands to India, executives directly aware of the development said. The platform will be similar to Sapphire Foods, which Samara Capital had set up for food services, which operates Yum! Brands' quick-service restaurant (QSR) chains KFC and Pizza Hut in India. The Samara Capital-backed platform, to be called Agro Tech Foods, has begun with Sundrop edible oil, peanut butter and ACT II popcorn as its first brands.

April 2024 approaches, Netflix users in the United States are gearing up to bid farewell to a slew of movies and series, including a significant portion of the DC movie library and all six seasons of the beloved series Community. Here's a detailed look at what's leaving the streaming platform next month, as per a What’s on Netflix report.