UPS Financial News

issue will be available for the public to bid till February 29. The IPO is a combination of a fresh equity issue worth Rs 329 crore and an offer for sale of 70.42 lakh shares. Ahead of the issue opening, the company mopped up about Rs 178 crore from anchor investors.

Options on artificial intelligence darling Nvidia accounted for 25 cents of every dollar of premium — the price of contracts — traded in US single-stock options over the past month, nearly $3 billion in options premium traded in the chipmaker's options every day on average, a Reuters analysis of Trade Alert data showed. During several recent sessions, Nvidia surpassed Tesla as the option market's most heavily traded name for the day.

«We have a lot of data about the world of work. We have over one billion members around the world, and 120 million in India,» said Cohen.

Bitcoin rose to the highest in more than two years, climbing above $54,000, amid growing optimism that persistent investor demand through exchange-traded funds will drive the price of the largest cryptocurrency back to record levels. “Bitcoin continues its ascent, supported by strong ETF inflows,” said Spencer Hallarn, global head of over-the-counter trading at crypto investment firm GSR.

Oil prices ticked up in early Asian trading on Monday, extending gains for the third straight day, as shipping disruptions spurred supply worries. Brent crude futures rose 16 cents, or 0.2%, to $82.69 a barrel by 0106 GMT, while U.S. West Texas Intermediate crude futures (WTI) climbed 15 cents, or 0.2%, to $77.73 a barrel.

Japan's first moon lander responded to a signal from Earth, suggesting it has survived a second freezing weekslong lunar night, Japan's space agency said Monday. JAXA called the signal, received late Sunday night, a «miracle» because the probe was not designed to survive the lunar night, when temperatures can fall to minus 170 degrees Celsius (minus 274 degrees Fahrenheit). The craft, Smart Lander for Investigating Moon, or SLIM, made a «pinpoint» touchdown on Jan. 20, making Japan became the fifth country to successfully place a probe on the moon. But the probe landed the wrong way up, with its solar panels initially unable to see the sun and had to be turned off within hours.

Expedia said on Monday it was cutting about 1,500 jobs globally, or about 9% of its total workforce, as part of its «organizational and technological transformation». The restructuring comes after Expedia warned earlier this month that revenue would moderate in 2024 as air ticket prices drop and said CEO Peter Kern was stepping down.

JAXA called the signal, received late Sunday night, a “miracle" because the probe was not designed to survive the lunar night, when temperatures can fall to minus 170 degrees Celsius (minus 274 degrees Fahrenheit). The craft, Smart Lander for Investigating Moon, or SLIM, made a “pinpoint" touchdown on Jan.

₹1,430 back then to ₹2,008 now at 2011-12 prices (adjusted, i.e., for inflation), and in urban India, it went up from ₹2,630 to ₹3,510. At current prices, our rural MPCE was ₹3,773, and urban, ₹6,459 in 2022-23. Given the span of a decade-plus, the gains made have been slow, but there is no evidence of the stagnancy that some critics feared.

The Supreme Court on Monday pulled up the Centre for its refusal to grant permanent jobs to women employed by the Coast Guard. “If you do not do it, we will do it. So, have a look at that," the court said.

Garena Free Fire Max is a battle royale game that has gained immense popularity in India due to its vibrant graphics and intense gameplay. The game is a successor to the original Garena Free Fire game, which was banned by the Indian government in 2022. However, Free Fire Max has made a name for itself among gaming enthusiasts in the country with the release of daily redeem codes by the game's developers, 111Dot Studios.

Bharatiya Janata Party (BJP) and the principal Opposition Samajwadi Party, seemed to have enough members in the UP state assembly to elect seven and three Rajya Sabha MPs, respectively. However, the BJP forced a contest at the last moment by fielding its eighth candidate, thus necessitating an election. The eighth BJP candidate, Sanjay Seth, filed his nomination papers at 1:30 pm, just ahead of the 3 pm close of nominations on February 15.

Sensex dropped 352.67 points, or 0.48%, to close at 72,790.13, while the Nifty 50 declined 90.65 points, or 0.41%, to settle at 22,122.05. “Globally investors would take cues from macro data releases lined up during the week. Overall, we expect the market to consolidate at higher zones while following global trends," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Google Cloud on Monday ramped up its criticism of Microsoft's cloud computing practices, saying its rival is seeking a monopoly that would harm the development of emerging technologies such as generative artificial intelligence. Microsoft and Amazon have recently attracted scrutiny in Britain, the European Union and the United States over their market power in cloud computing. Google trails a distant third behind the two leaders.

economists, decelerating from 7.6% in the preceding three months. Forecasts ranged from 6% to 7.2% for the quarter ended December. The Reserve Bank of India estimates the economy to have grown 6.5% in the period. The government is scheduled to release the data on Thursday. Monetary policy may weigh «A slowdown in state-led capex, which has been propelling investment, likely contributed to the expected deceleration in Q3,» said Rahul Bajoria, managing director and head of EM Asia (ex-China) economics at Barclays.

Indian Oil State-run Indian Oil has cancelled the tender for setting up the first green hydrogen plant at the company's Panipat Refinery and Petrochemical Complex in Haryana.

artificial intelligence (GenAI) projects are expected to go live this year, helping clients drive greater value from the technology, Harrick Vin, chief technology officer, Tata Consultancy Services (TCS), told ET. “We are currently engaged in over 250 different projects in various categories, but they are all mainly in assist and augment categories,” said Vin, who took over the role in July.

Sony Group Corp. dodged a bullet when its lawyers nixed a $10 billion Indian merger that executives had spent two years trying to bring to fruition. The spurned target hasn’t been as lucky. Zee Entertainment Enterprises Ltd. has no other suitors on the horizon, and its founders’ mounting legal troubles are threatening to engulf the firm. To foreign investors, the Sony-Zee saga is a reminder of the need to approach Indian deals with an abundance of caution. In 2008, Daiichi Sankyo Co. shelled out $4.6 billion to buy Ranbaxy Laboratories Ltd., a generic drugmaker, from New Delhi-based brothers Malvinder Singh and Shivinder Singh. Shortly after, US regulators barred more than 30 drugs made at two of the Indian company's plants and halted reviews of new products at one of the factories because the firm had falsified data. Daiichi got pulled into a rabbit hole to win an arbitration award against the brothers for suppressing facts, and then to get it enforced. Sixteen years later, governance at many Indian family-controlled firms isn’t any better. The market watchdog, which is investigating Zee’s founder Subhash Chandra and his son Punit Goenka, the chief executive officer, for siphoning funds from the publicly traded firm, has found a 20 billion rupee ($241 million) diversion, roughly 10 times bigger than what was revealed to a preliminary probe.

Asian Paints slumped 3.9% on Monday after brokerage CLSA downgraded its rating on the stock to 'sell' following the entry of Birla Opus into the industry. The firm slashed its price target to ₹2,425 from ₹3,215, implying a downside of over 15% from Monday's closing price of ₹2,868.40. «Birla Opus is the latest new entrant in the decorative paints market, promising an incremental 40% addition to industry capacity, with aggressive sales and dealer acquisition targets,» said CLSA's analysts Aditya Soman and Vatsal Dujari in a client note. "...we believe near term its growth and margins will not be immune to this competitive pressure although it may maintain its long-term market position."

Paytm’s imminent exit from the employee benefits market, following the regulatory action against its payments bank and mobile wallet, is set to offer an opportunity to rivals like Pluxee (formerly Sodexo), Zaggle and banks to expand their business in this space. “With Paytm Payments Bank and its wallet service being asked to stop (services) after March 15, large corporations are looking for alternative options since meal benefits are a crucial aspect of their tax compliance,” said a senior fintech industry executive in the know.

NMDC: The company has declared an interim dividend of ₹5.75 per equity share. In a stock exchange filing, NMDC said the Board of Directors “declared 1st Interim Dividend @ ₹ 5.75 (Rupees five and seventy five paise only) per equity share of face value of Re.1/- each for the financial year 2023-24. The said Interim Dividend shall be paid / dispatched within the prescribed timelines as per the provisions of the Companies Act, 2013 to those equity shareholders of the Company whose names appear in the Register of Members / records of Depositories as beneficial owners of the equity shares as on Tuesday, the 27th February 2024, which is the Record Date fixed for the purpose." Shares of NMDC will trade ex-dividend on Tuesday.