UPS Financial News

By Harry Robertson and Ankur Banerjee

₹84,560 crore. In its report, brokerage house Nuvama Institutional Equities stated that the Ministry of Defence had taken a tactical move based on lessons learned.

iQOO Neo 9 Pro has been confirmed to launch in India on the 22nd of February, and many of the specifications of the upcoming smartphone have already been officially revealed by the company. The smartphone is coming to the Indian market after making its debut in the Chinese market in December. According to a leak by tipster Mukul Sharma, citing a screengrab of the iQOO Neo 9 Pro product page, the smartphone will be priced at ₹37,999 for the 8GB RAM/256GB storage variant and with a ₹3,000 bank discount, the price of the smartphone comes down to ₹34,999.

Dr BS Ajaikumar, Executive Chairman, Healthcare Global, says they are focussed on achieving margin and growth will definitely happen. The challenge has been that with the new centres coming in, while the mature centres are giving a margin of over 22%, the best centres gives a margin of close to 30%. So, while this is happening, they plan to do a few more M&As. That will bring down the margin level. But even with that, Ajaikumar is confident that margin will be in the upper teens, reaching close to 20% towards the last quarter of next year (FY25-26). According to reports, CVC Capital is looking to sell stake in Healthcare Global. They hold 60.4% stake. Any indication how much they are going to sell? Will that trigger an open offer? Dr BS Ajaikumar: Yes, as I always say, the best person to answer is CVC. If they do plan to exit, they have to sell 60%. Yes, it will be an open offer also and from what we understand, they will be the best persons to answer these questions. As far as HCG is concerned, we have really made no change in the plans. We think we are on a very good growth trajectory.

Calcutta High Court on Monday refused to take up for urgent hearing a PIL seeking protection to women residents of Sandeshkhali area over allegations of sexual atrocities on them by people owing allegiance to ruling Trinamool Congress. A division bench presided by Chief Justice T S Sivagnanam asked whether the petitioner is an elected representative like an MLA or a panchayat pradhan or a resident of Sandeshkhali or whether the person visited the affected place, saying that only attaching copies of newspaper reports with the petition will not be enough. The Chief Justice told the lawyer petitioner that the basic requirements of a PIL have to be satisfied for it to be taken up. The petitioner lawyer prayed for an urgent hearing of her public interest litigation (PIL) seeking protection to the women villagers of Sandeshkhali in West Bengal's North 24 Parganas district.

Jharkhand Mukti Morcha (JMM) leader Shibu Soren has approached the Delhi High Court challenging the single judge order refusing to interfere with the Lokpal proceedings against Soren based on a complaint filed by the BJP MP Nishikant Dubey in Disproportionate Assets (DA) case. The appeal came up for hearing before the division bench headed by Justice Rekha Palli. The matter was adjourned for tomorrow as senior advocate Kapil Sibal was busy with another matter before the Supreme Court.

Bitcoin halving, often referred to as the «halvening,» is a significant event in the world of cryptocurrency. It is a pre-programmed event that occurs approximately every four years, and its implications are crucial for Bitcoin investors, miners, and enthusiasts alike.

Pei's casual use of the term 'bhai,' meaning brother in Hindi, has resonated with Indian audiences who frequently use the term in colloquial conversations. Pei further embraced the jovial exchange by changing his name on social media to 'Carl Bhai.' When referred to as «Carl Bhai» by a user, he responded, «I changed my name on X.» Even the official Nothing India handle joined in, adopting the moniker «Nothing India Bhai» in response to Pei's tweet. Nothing co-founder Akis Evangelidis also followed suit, renaming himself «Akis Bhai.»

In Monday’s trading session, the following five stocks witnessed a build of fresh long positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh long position or not. When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup. The signal is considered more reliable if the volume on the counter has also seen an increase.

stocks witnessed a build of fresh short positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh short position or not. To understand it we have to look at what “ short selling” means. When a trader is expecting the stock prices to fall, he may sell the stock without owning that and buy at a lower price, for example, stock XYZ is trading at 100, a trader sells the stocks at Rs 100 and buys it back at Rs 90. He made a profit of Rs 10. Selling the stocks without owing the underlying stock is called short selling.

«Consequent to the Order of the CBDT in F.No 375/02/2023-IT-Budget dated 13.2.2024 eligible outstanding direct tax demands have been remitted and extinguished. Please log into your account and follow the path Pending Action > Response to Outstanding Demand to check the status of 'Extinguished Demands' in your case,» said CBDT in the order dated February 13, 2024, published on February 19, 2024.

Vikas Pershad, Fund Manager, M&G Investments, says “one has to think about not just China plus one, but also one plus India. If you are selling into a country, add India; if you are making in another country, you have to think about India now, which I have come around to, I was not a believer in a big way just a couple of years ago.” Markets always follow a style. There is a time when dividend investing will do well. There is a time when growth does well. There is a time when value does well. In the last 18 months, growth has done well in India whether it is some of the defence, cyclicals or infrastructure names and value has made a comeback which is PSU. It is a rarity. Why is that we are seeing a rising tide phenomenon? Vikas Pershad: Before we look abroad, you look internally and look at the retail interest, how the financialisation of savings is happening here in India. Retail investors are now taking money from other sources and putting it into the market and I think that is driving it. You have a lot of people focussed on this market. You have China, on one hand, that has gone from being a specialist market to a generalist market and it is back to being now a specialist market.

CRISIL Ratings analysis of branded hotel companies with 70,000 rooms across categories, indicates that the hospitality industry in India is slated for a healthy revenue growth of 11-13% in the next fiscal after a strong 15-17% growth in the current fiscal, backed by steady domestic demand and an expected ramp up in foreign traveller demand. The strong demand dynamics along with modest new supply will keep the operating performance of the industry healthy over the near term. CRISIL Ratings said the healthy operating performance will augur well for the industry profitability where the earnings before interest, taxes and depreciation (Ebitda) will continue the strong momentum over the current and the next fiscal.

Gautam Duggad, Head of Research — Institutional Equities, Motilal Oswal, says “there is a possibility that we might see continued strong performance of midcap IT. But the stock prices may lag a little bit now to allow the earnings to sort of, to allow the valuations to sort of catch up, whereas large cap, we find risk-reward more attractive. So while we have an overall underweight stance on IT, within that all our allocation is currently drifted towards large cap, so HCL Tech being our top idea.”

Small finance banks (SFBs) often offer comparatively higher interest rates on fixed deposits (FDs) than what private and public sector banks offer. Interest rates on FDs usually range from 8 to 8.5% in small finance banks now. Higher returns can be lucrative for many but how safe is it to invest in FDs in small finance banks? Do remember that deposits in small finance banks are covered under the insurance scheme provided by Deposit Insurance and Credit Guarantee Corporation (DICGC) to the tune of Rs 5 lakh. The amount includes both principal amount and interest. POTD, Sukanya Samriddhi Yojana interest rates hiked; investors who will get higher rates on these small saving schemes Here's a look at some of these small finance banks that provide relatively high-interest rates for regular fixed deposits.

India requires long-term effort, a senior US scientist has said and noted cost-intensive technologies such as smog towers and cloud seeding are not sustainable solutions to the pollution problem plaguing the country. In an interview with PTI, Richard Peltier, a member of the World Health Organization's (WHO) Global Air Pollution and Health Technical Advisory Group, said there is a good understanding that air pollution is «really quite bad» across India but precision is lacking due to the limited distribution of air pollution monitors. When asked how much time is needed to control air pollution in cities such as Delhi, he cited the example of the US. The US implemented the Clean Air Act in the 1960s, Peltier said and added only recently has the country developed air quality that is generally considered good.

Bangladesh visa centre will be opened here soon, following the demand of people of the three districts of Assam's Barak Valley, an envoy from the neighbouring country said on Monday. Bangladesh Assistant High Commissioner at Guwahati, Ruhul Amin, said there is considerable demand for visas to Bangladesh from Barak Valley comprising Cachar, Karimganj and Hailakandi districts, and thus it has been decided to open a visa centre here. Silchar is the Cachar district headquarters.

China is widely expected to trim its benchmark mortgage reference rate at a monthly fixing on Tuesday, as banks' improving net interest margins give authorities some leeway to use monetary stimulus to shore up faltering economy growth. The loan prime rate (LPR) normally charged to banks' best clients is calculated each month after 20 designated commercial banks submit proposed rates to the People's Bank of China (PBOC).

South Korean shares rose more than 1% on Monday to their highest level since May 2022, as chipmakers jumped and foreign buying continued on optimism around the government's corporate reform plan. ** The benchmark KOSPI closed up 31.50 points, or 1.19%, at 2,680.26 — its highest level since May 31, 2022.

Ameya Agrawal and Salman Ali

inflation remained sticky cast doubts on when the Federal Reserve would start its easing cycle, while the yen remained rooted near the psychologically key 150 per dollar level. The yen has hovered around 150 level in the last few days, prompting officials to comment on the currency moves and keeping markets on alert to a possible intervention by Japanese authorities.