UPS Financial News

Swan Energy is one such stock that has delivered phenomenal returns to its long-term shareholders. Also Read: Hindalco shares jump 5% after Novelis files for IPO in the US The company's shares, valued at ₹120 apiece in November 2021, have surged by 518% to reach the current price of ₹742 per share. A significant portion of this increase occurred over the past five months, with the stock rallying from ₹287 per share to its current level, delivering a massive return of 160%.

Virat Kohli and actress Anushka Sharma announced the birth of their son Akaay, users on social media sites began propping up fake accounts for the infant looking to farm eager followers. A user on the social media site Reddit in a post titled 'Instagram flooded with Akaay Kohli accounts within minutes' pointed out the springing up of multiple users masquerading as the newborn's social media account.

Uttar Pradesh, Gujarat, and Punjab, have reached out to authorities for help, including to Member of Parliament, Asaduddin Owaisi. They claim the men were promised jobs with high salaries but ended up trapped in a dangerous situation. One man, who wished to remain anonymous, said he and two others were recruited through a YouTube channel and transported to Russia in November 2023.

Paytm may just be the beginning. India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that had attracted backing from Warren Buffett and SoftBank Group Corp. While the Paytm case was an extreme example of lapses in customer verification — it allegedly used a single identity document to open thousands of accounts — the crackdown signals growing impatience from authorities. Hardly a day passes when a bank or fintech firm isn’t fined for failing to properly vet its customers, ensnaring top lenders from State Bank of India to Citigroup Inc. Fed up with the persistent shortcomings, the Reserve Bank of India is likely to get even tougher before Governor Shaktikanta Das steps down this year.

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West Bengal and Uttar Pradesh said Nationalist Congress Party leader Sharad Pawar. Pawar who heads his own faction of the Nationalist Congress Party- Sharad Pawar on Wednesday acknowledged that there were differences within the opposition alliance but said that it could be resolved with the intervention of leaders from leaders of other Opposition parties in other states. “In some cases, we have disputes in Uttar Pradesh (between Congress and Samajwadi Party) on seat sharing and there is no agreement on it. In West Bengal there are more problems, there the parties (in the India alliance) are not even ready to go into an alliance with each other,” said Pawar while speaking to the reporters in Kolhapur. He added, “TMC does not want to go with an alliance with the CPI (m), similarly there are issues with the TMC and the Congress. We have not resolved these issues; in these situations, the seniors (senior India bloc leadership) possibly from outside the state would sit soon (to resolve the issues).”

Dipan Mehta, Director, Elixir Equities, says “it is fantastic that the thunder is missing in the market because if the market goes up quietly, then one can certainly say that the froth is not there and the risks are lower. But we are seeing a lot of liquidity coming in. The thunder is missing because a lot of money is coming through institutional managers, especially mutual funds or through portfolio managers. So, the percentage of professionals managing the money compared to just raw retail coming to the market is significantly higher in this bull market than ever before.” I specifically want to talk to you about Union Bank, if you track that one, because I think it is the second QIP that the bank is doing within a matter of 8-10 months. Dipan Mehta: Union Bank is following a very sensible strategy while the going is good and there is much interest in banking stocks and the performance also has improved. They are using this opportunity to shore up their capital and eventually that will translate into higher growth rate because higher capital adequacy will enable them to drive their credit book as well and they will be able to utilise the entire brand and the distribution network to perhaps lend more.

A look at the day ahead in European and global markets from Ankur Banerjee

Union Bank of India share price jumped almost 7 percent on Wednesday, February 21, after the PSU lender announced its plans to raise ₹3,000 crore through a qualified institutional placement (QIP), with a floor price set at ₹142.78 per share. "We wish to inform you that the Committee of Directors for Raising Capital Funds (“Committee") has at its meeting held today i.e. February 20, 2024, approved the raising of funds for an amount not exceeding ₹3,000 crore through issue of equity shares through Qualified Institutions Placement subject to the requisite regulatory /statutory approvals," said the bank in a stock exchange filing.

₹76, or 0.12%, at ₹62,243 per 10 grams. MCX Silver price was up by ₹150, or 0.21%, at ₹71,405 per kg. International gold prices were steady, helped by a slightly weaker dollar as investors looked forward to minutes of the last US Federal Reserve policy meeting due later in the day for more clarity on its interest rate path, Reuters reported.

National Pension System (NPS) is usually done for the long-term wealth creation. Nevertheless, there could be certain exigencies which call for the need to withdraw a part of the corpus. The Pension Fund Regulatory and Development Authority (PFRDA) rules stipulate that a subscriber can make partial withdrawal but only up to 25 percent of their contributions to their individual pension account excluding the employer’s contribution.

The Red Sea crisis has disrupted shipping routes, pushing refining margins significantly higher. The benchmark Singapore gross refining margin is seeing an uptrend, currently up more than 56% compared to the December quarter (Q3FY24), as illustrated in the chart here.

Gold loan is also a preferred option for those who may not have a strong credit history or steady income. Unlike other forms of credit, eligibility for a gold loan is primarily based on the value of the gold provided as collateral, making it more accessible to a wider range of individuals. The benefits of opting for a Bajaj Finserv Gold Loan extend beyond just its 15-minute* approvals.

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By Selena Li and Lawrence White

Investing.com-- Asia-focused lender HSBC Holdings PLC (HK:0005) (LON:HSBA) clocked weaker-than-expected profit growth for 2023, but still marked a record-high pre-tax profit as it benefited greatly from higher interest rates across the globe, with the bank also announcing an up to $2 billion buyback.

A post shared by People Magazine (@people) “It filled our hearts to once again be surrounded by Canadian people, food and culture. We felt the Invictus spirit and excitement throughout Whistler and Vancouver, and are so grateful to all our hosts for organising such a memorable visit.

NEW DELHI : The Union health ministry plans to expand the scope of its flagship cashless health insurance scheme, covering more expensive cancer and transplant-related surgeries and treatments for individuals from poor families. The ministry had in 2022 included certain basic oncology treatments such as chemotherapy and radiation, as well as kidney and heart transplants and dialysis under the scheme called Ayushman Bharat–Pradhan Mantri Jan Arogya Yojna. While private hospitals typically charge ₹2.5 lakh to ₹10 lakh for such procedures, the government plans to include more complex treatments costing ₹20 lakh to ₹30 lakh, according to two ministry officials familiar with the plans.

Vladimir Putin's two-and-a-half decades in power, Western leaders thought they understood the strategy of the Kremlin leader and argued that Russia merited a place as an international partner. But that approach was blown apart two years ago on February 24, 2022, when Putin ordered the invasion of Ukraine, consigning to a distant past images such as that of the smiling Russian leader bounding up the steps of Macron's Mediterranean Fort de Bregancon residence in August 2019 bearing flowers for the French leader's wife Brigitte.

Narendra Modi should come forward to accept their demands and the farmers should be allowed to march towards Delhi. He said, “An amount of ₹1.5-2 lakh crore is not a huge amount...We should be allowed to remove these barriers and march towards Delhi." “We tried our best from our side. We attended the meetings, every point was discussed and now the decision has to be taken by the central government.

The Nifty future closed positive with gains of 0.27% at 22231 levels on Tuesday. India VIX moved up by 0.31% from 16.02 to 16.07 levels.