UPS Financial News

Crypto mining has quickly gone from an obscure industry to an industry so big that Bitcoin (BTC) mining alone consumes over 0.6% of the United States’s electricity, not to mention other minable coins such as Litecoin (LTC). Similarly to investing in energy stocks, mining crypto pits the allure of financial gain against environmental concerns. But it doesn’t have to be one or the other!

₹72 crore initial public offering (IPO) of Vibhor Steel Tubes received a remarkable response from investors on its first day of bidding, with subscription reaching 27.63 times. Opened on February 13, the bidding attracted bids for 9.92 crore shares against the available 35.92 lakh shares. The IPO will remain open until February 15.

Also Read: 12 Nifty 100 stocks delivered multibagger returns since last Valentine's Day; check full list The benchmark index, the Nifty 50, has seen a spectacular move since last year's Valentine days, while the Nifty 50 was placed around 18,000 levels on the day there was initial weakness during the February and March months as the Nifty 50 tested 16,800 zones. However, from there, we have seen a splendid bull run, with every dip getting bought into.

Bloomberg has reported. His comments came in a forum which was held on X Spaces. In the forum, the discussions included opponents of a Senate bill that would provide further assistance for Ukraine to continue battling the full-scale Russian invasion that began two years ago.

₹1,363.45 on the BSE. HDFC Bank share price opened at ₹1,380.90 against the previous close of ₹1,394 and cracked over 2 per cent to the 52-week low level. The stock has been under strong selling pressure this year.

₹109.3 crore as against ₹103.3 crore in the year-ago period. Meanwhile, its revenue from operations jumped 23.3 percent to ₹1,652.2 crore in Q3FY24 versus ₹1,339.6 crore in Q3FY23. On the operating front, the jewellery maker's EBITDA advanced 11.3 percent to ₹181.1 crore in the December FY24 quarter as compared to ₹162.7 crore in the December FY23 quarter.

one-day elections. The Southeast Asian nation's election is a mammoth exercise in logistics spanning three time zones with ballot boxes transported by truck, boat, helicopter, horse and even ox-cart.

Under Section 80C and other provisions of the Income Tax Act, there are a number of ways for taxpayers to reduce their tax obligations. These investments provide you the chance to build wealth in addition to lowering your taxed income. How to switch from new tax regime to old tax regime for FY23-24

«You have only got to look at Delhi and what is going on there from an infrastructure and then come to Mumbai and it is breathtaking,» says Peter McGuire, CEO, XM Australia. And let us get to talking about that hotter than expected inflation print that came in. What do you think this will lead the US Fed to do? A couple of things. I think it hit the market by a little bit of a surprise and as far as a pushback, we were looking at the best part of 65-66% as far as a rate cut come May and that has been pushed back now to around about 32-33% and they are rolling that forward to possibly by June or July.

Ashwini Agarwal, Founder, Demeter Advisors, says “I am quite excited by the whole chemical space where the earnings cycle seems to have bottomed out. I continue to believe in pharmaceuticals where I think the pricing environment and the demand environment are reasonably solid. I think IT services might be a place to hide. I do not own it personally. But from a risk return perspective in a benchmark portfolio and IT services holdings might do reasonably okay. I do not think a lot of absolute gain will be made there. But on a relative basis, they might hold up. I look at the stock price of Paytm, I look at the stock price of metals, I look at IT. I mean, there is bad news, there are bargains available. Ashwini Agarwal: Yes. There are bargains available for sure. If you look at the upstream chemical sector, after the peak of earnings in 2021, in the last one, one-and-a-half years you have seen a significant amount of decline in revenue and decline in margins led by inventory liquidation from the customers globally and you have seen a slowdown of demand as well. So, yes, there are bargains available.

Fresher hiring has been on a downward trend since the pandemic, according to findings by Indeed, a global matching and hiring platform. The demand from graduates for fresher roles has also drastically declined by 37.4% between December 2022 and 2023. Multiple reasons for the fall include hesitation to enter the job market during industry volatilities, skill mismatch amidst a changing tech landscape, and differing salary expectations.

Hindalco Industries shares on Wednesday extended their losses to over 13% in two sessions notwithstanding a 71% year-on-year (YoY) jump in its December quarter net profit as the Novelis capex shocker weighed on the stock. However, the intensity of decline was substantially lower on Wednesday with less than 1% fall around 11 am. A clutch of brokerages remains optimistic about the long-term story of Hindalco expecting the company to benefit from Novlis capex, over time. While Jefferies, Motilal Oswal and JM Financial have reiterated their buy views, Kotak Institutional Equities has an 'Add' stance. Nuvama on the other hand has recommended a hold and cut the price target.

Narendra Modi on Tuesday announced the launch of the 'PM Surya Ghar: Muft Bijli Yojana' which aims to light up one crore households by providing up to 300 units of free electricity every month. Modi said the project would entail an investment of over Rs 75,000 crore. In a post on X, Modi said, «In order to further sustainable development and people's wellbeing, we are launching the PM Surya Ghar: Muft Bijli Yojana. This project, with an investment of over Rs 75,000 crore, aims to light up 1 crore households by providing up to 300 units of free electricity every month.» From substantive subsidies, which will be given directly to people's bank accounts, to heavily concessional bank loans, the central government will ensure that there is no cost burden on the people, the prime minister added.

New Delhi: Congress Parliamentary Party chairperson Sonia Gandhi on Wednesday filed her nomination paper for a Rajya Sabha berth from Rajasthan. Accompanied by her children and top party leaders, Gandhi filed her nomination papers before the officials in Jaipur. With this, 77-year-old Gandhi opted out of contesting yet another election to retain her Rae Bareli Lok Sabha seat in UP which she represented five times in a row since 2004.

Ajay Kanwal, MD & CEO, Jana SFB, says: “Our September 23 NIM was also 7.8%, March was 7.7%. So, we maintained the flattish NIMs growth. We have seen a small rise in cost of funds but thanks to a product mix we are able to make sure the NIMs remain steady. Depending on the outlook on interest rates which I think is now flattish, we should be able to maintain the NIMs at these levels.” Let us begin with this IPO plan. You have raised Rs 462 crore via the fresh issue. How will that impact your CET ratio? What has been the response from your anchor investors? And congrats on the listing. Ajay Kanwal: We raised Rs 575 crore in total; Rs 472 crore in public issue prior to that, pre-IPO. Our CET ratio was 17.5% as of September. So now, we will go into the early 20s. So 20 to 23% odd, once we add this capital base too. Like we mentioned in our prospectus, the money will be used to augment our tier 1 capital at the bank, which anyway is strong. And of course, it will go towards the growth of the bank.

Tens of thousands of Indian farmers are marching toward the capital to demand guaranteed crop prices, renewing a movement from two years ago that succeeded in getting the government to repeal contentious new agricultural laws

The Body Shop, the British beauty and cosmetics retail chain, says it's appointed insolvency administrators after years of financial struggles

While credit scores aren’t exactly the most romantic topic of discussion, they can be the keys to unlocking the future that you and your partner envision

Stocks fell sharply after disappointing data on inflation made investors confront the bitter possibility that interest rates will stay high for months longer than they were hoping

Stocks that traded heavily or had substantial price changes on Tuesday: Hasbro, Goodyear fall; JetBlue Airways, TripAdvisor rise

A Texas company has reached a multimillion-dollar settlement with the federal government and the state of New Mexico to address air pollution concerns in the largest oil and gas producing region in the United States