UPS Financial News

Bharat Electronics Ltd. traded 1.24 per cent up at Rs 207.85 at 10:30AM (IST) on Wednesday, even as BSE benchmark Sensex gained 92.61 points to 73187.83. The stock had settled at Rs 205.3 in the previous session. The stock quoted a 52-week high price of Rs 209.0 and 52-week low of Rs 89.68, respectively. As per BSE data, total traded volume on the counter till 10:30AM (IST) stood at 417105 shares with a turnover of Rs 8.66 crore.

The NSE Nifty index was trading 6.15 points down at 22192.2, while BSE Sensex was up 7.58 points at 73102.8 at the time of writing this report.

TOKYO (Reuters) — Japan's Toyota Motor (NYSE:TM) said on Wednesday global vehicle production rose by 7% in January, marking a year-on-year increase for the 13th straight month as the automaker benefited from strong U.S. demand.

Investing.com-- Most Asian currencies moved in a flat-to-low range on Wednesday, while the dollar strengthened as markets positioned for more cues on the U.S. economy and interest rates due later in the week.

A top court has ruled that two residents of the tiny Caribbean island of Barbuda have the right to challenge construction of an airstrip that critics say endangers fragile ecosystems and was begun without any permits

President Biden, while campaigning in New York on Monday, had stopped by 30 Rockefeller to appear on National Broadcasting Company's (NBC) "Late Night with Seth Meyers". The President's sit-down with the comic included questions about his age and his 2024 agenda versus that of Trump, the Republican front-runner for the nomination, reported ABC News. Meyers questioned the US President over the leaked classified documents which state Biden is 81 years old currently.

₹45,000 crore through equity and debt. Vodafone Idea shares declined as much as 4.85% to ₹15.10 apiece on the BSE. Vodafone Idea said it will raise ₹20,000 crore through a combination of equity or equity-linked instruments and the rest via debt.

By Devayani Sathyan

Investing.com-- Hong Kong-listed Chinese property stocks fell on Wednesday, coming under pressure from renewed concerns over a real estate meltdown after Country Garden (HK:2007) was slapped with a liquidation petition. 

In response to growing concerns among US employees about the sustainability of their retirement savings, MetLife has teamed up with Fidelity Investments to put guaranteed lifetime income within the reach of more everyday Americans.

₹86.2 trillion. Of this, ₹31.6 trillion flowed into fixed deposits of banks and other institutions, while ₹5.1 trillion flowed into mutual funds (MFs) and stocks, amounting to about 6% of the overall flow. Given this, the remaining 94% went into fixed-income investments, like life insurance schemes, provident and pension funds, fixed deposits and small savings schemes.

Vodafone-Idea, Patanjali Foods, CMS Info Systems, ZEEL, Hindustan Zinc, are some stocks likely to be in focus in today's trading session.Sensex Today Live : The trends on Gift Nifty indicate a flat to positive start for the Indian benchmark index. The Gift Nifty was trading around 22,235 level as compared to the Nifty futures’ previous close of 22,196.On Tuesday, the Indian stock market indices rebounded from a two-day correction and ended higher.The Sensex gained 305.09 points to close at 73,095.22, while the Nifty 50 settled 76.30 points, or 0.34%, higher at 22,198.35.Nifty 50 formed a reasonable positive candle on the daily chart that has engulfed the small negative candle of Monday.“Technically, this market action is signaling a bullish engulfing pattern.

Finance minister Nirmala Sitharaman urged industry to “join in a big way" the national effort to push India’s growth trajectory higher. Speaking at an event on Tuesday, she said that global investments are flowing to India and called on India Inc to look for greater joint-venture partnerships around the world. “You are here, you are watching the situation, watching the flow of investment capital," she said.

Vodafone Idea Board approved fundraising of up to ₹45,000 crore through equity and debt, said the telecom company in an exchange filing on February 27. The company said it will raise ₹20,000 crore through a combination of equity or equity-linked instruments and the rest via debt and promoters will also participate in the proposed equity raise. The company said it will call for a meeting of its shareholders on April 2, 2024 and post-shareholder approval it expects to complete the equity fund raise in the coming quarter.

Sandeshkhali remained tense, with delegations of political parties and members of civil society groups making a beeline to the strife-torn island in North 24 Parganas amid arrests and protests, Trinamool Congress Rajya Sabha MP-elect Sagarika Ghose has claimed that the key accused, Sheikh Shahjahan, will be arrested very soon. Sagarika Ghose, while speaking to ANI, said that the government is acting in this matter and will continue to do so. «Key aides of Sheikh Shahjahan have been arrested. So, if the Government of Bengal wanted to shield Sheikh Shahjahan, would it arrest and put behind bars his own key aides? No one is being shielded; no one is being protected. No one will escape the law...The TMC and the Bengal Government are on the ground; they are working and there is every reason to believe that Sheikh Shahjahan will be arrested very soon,» Ghose said on Tuesday.

Tata Group announced Wednesday that its new multibillion-pound UK factory to manufacture batteries will be located in Bridgwater, south west England. The £4 billion ($5 billion) plant in the county of Somerset, southwest England, will be Tata's first so-called gigafactory outside India. Agratas, Tata Group's global battery business, confirmed Wednesday that the 40 GWh factory would be built at Bridgwater's Gravity Smart Campus.

Federal Reserve's easing cycle, while the New Zealand dollar fell sharply after the central bank softened its hawkish stance on rates. New Zealand's central bank held the cash rate steady at 5.5% on Wednesday, reiterating that previous rate hikes had helped dampen prices, but adding that the risk of further rate hikes had been reduced. The kiwi was last at $0.61235, down 0.75% on the day.

G20 finance ministers will meet Wednesday in Brazil, seeking ways to shore up a global economy whose nascent recovery is threatened by a raft of conflicts and crises, including the wars in Ukraine and Gaza. The Ukraine war could take center stage at the meeting, with G7 countries due to meet on the sidelines to discuss shoring up Western support against Russia's invasion — including what US Treasury Secretary Janet Yellen called an «urgent» proposal to use frozen Russian assets to increase aid for Kyiv.

Germany and Poland affirmed Tuesday that they would not be sending troops to Ukraine, after reports that some Western countries may be considering doing so as the war with Russia enters its third year. The head of NATO also said the U.S.-led military alliance has no plans to send troops to Ukraine, after other central European leaders confirmed that they too would not be providing soldiers. The Kremlin, meanwhile, warned that a direct conflict between NATO and Russia would be inevitable if the alliance sends combat troops. «In this case, we need to talk not about probability, but about the inevitability (of conflict),» Kremlin spokesman Dmitry Peskov told reporters.

U.S. dollar held steady as traders brushed off durable goods data overnight and awaited the Federal Reserve's preferred measure of inflation due Thursday for clues on when the U.S. central bank may start cutting interest rates. The Reserve Bank of New Zealand's (RBNZ) interest rate decision later in the Asian morning also has market participants on edge, with the New Zealand dollar calm ahead of what could turn out to be a significant policy meeting.

Sensex climbed 305 points to settle at 73,095 and the broader Nifty ended 76 points higher at 22,198. Stocks that were in focus included names like Easy Trip Planner, which rose 2.07%, Hindustan Copper, which fell 3.6%, and NMDC, whose shares closed 4% lower on Tuesday.