UPS Financial News

RIL) on Monday rallied over 5% to hit a fresh 52-week high of Rs 2,826 on Monday with its market capitalisation crossing the threshold of Rs 19 lakh crore. RIL's December quarter results were largely in-line with market expectations with its O2C EBITDA dropping 14% QoQ to Rs 140.6 billion due to maintenance in multiple units combined with lower cracks & deltas. Jio’s EBITDA was up 1.4% QoQ to Rs 142.6 billion, while Retail EBITDA rose 8% QoQ to Rs 62.7 billion. RIL's profit after tax stood at Rs 19,641 crore in Q3FY24, down 1.2% QoQ and up 10.3% YoY and above market expectations of Rs 18,080 crore.

Cryptocurrency markets traded marginally lower on Monday, dragged by Bitcoin, Ethereum, Cardano, and Avalanche. However, over the weekend, Bitcoin surged over $42,000 level, and other altcoins also saw gains. At 11.39 a.m., Bitcoin was trading 0.84% lower at $42,164, while Ethereum was down 1.05% at $2,266. «Over the weekend, Bitcoin climbed back above $42,000, aligning with the performance of equities. A breach of the $42,800 resistance might set the stage for a move to the $43,500 level. The market could see renewed buyer interest if Bitcoin surpasses $44,700. Conversely, a failure to overcome resistance places support at $41,750,» said Edul Patel, CEO of Mudrex. CoinDCX Research Team said, " Ethereum (ETH) closed on a bearish note and is still positioned below the 20EMA Daily. Currently, ETH is in the middle of its range, slightly above $2,275. Key support and resistance levels for ETH are at $2,175 and $2,388, respectively."

PI Industries Ltd. traded 1.06 per cent up in Monday's trade at 12:37PM (IST). Around 6,201 shares changed hands on the counter.

Minister of Parliamentary Affairs, Pralhad Joshi is set to convene a meeting of the floor leaders of various political parties in both Houses of Parliament ahead of the Budget Session. Before each parliamentary session, it is a standard procedure for leaders of various political parties to outline the issues they intend to raise, and the government provides them with a preview of its agenda while seeking their cooperation. It will be a short session this time, between January 31 and February 9, with Finance Minister Nirmala Sitharaman set to table the interim budget ahead of the Lok Sabha polls. The new government will present the full-fledged budget. The session will begin with President Droupadi Murmu's address to the joint sitting of the two Houses of Parliament.

Dhanlaxmi Bank surged an additional 5% in today's intraday trade, reaching ₹53.75 apiece, marking highest level since August 2014. In the last 10 trading sessions, the stock has witnessed a remarkable ascent, climbing from ₹30.30 apiece to ₹51.20, reflecting a stellar return of 69%. In the current month so far, the stock has jumped by 75.37%.

Adani Power, the largest private thermal power producer in India, jumped 5% in early trade on Monday, reaching ₹570 apiece, after the company posted a robust set of numbers for the December quarter. In Q3 FY24, Adani Power reported a significant boost in net profit, soaring from ₹9 crore in the corresponding period last year to ₹2,738 crore in Q3FY24, primarily driven by increased revenues.

BSE Sensex soared 896 points to 71,637.61 while the Nifty50 jumped 291 points to 21,429.60. The market exhibited a clear bullish bias, as 37 out of the Nifty stocks were trading in positive territory, while only 13 were in the negative zone. The top gainers were ONGC up over 7 percent followed by Adani Enterprises, Adani Ports, Reliance Industries, and Coal India.

₹19 lakh crore. Reliance shares rallied as much as 4.19% to a fresh high of ₹2,824.00 apiece on the BSE. On NSE, Reliance share price jumped 4.35% to a record high of ₹2,824.00 apiece.

SJVN share price jumped nearly 15% to touch a 52-week high on Monday's trading session after the company won a 100 MW solar project in an e-reverse auction run by Gujarat Urja Vikas Nigam Ltd (GUVNL). SJVN share price today opened at ₹120.96 apiece on BSE.

A post shared by Nithin Kamath (@nithinkamath) The video begins with Kamath's message, stating, "We carried out a fake police raid in our office to see how the team reacts to extreme stress and to have some fun, of course." Technicians set up hidden cameras to capture every moment of the unfolding drama. Kamath hired actors to impersonate police officers who, armed with a fabricated Bombay High Court order, stormed the Zerodha office.

Airbnb Inc. is planning to increase the guest service fee for cross-currency bookings as the vacation-rental company pushes into more international markets to boost growth. Starting April 1, an additional fee of as much as 2% will be charged to guests if they pay in a different currency from the listing, Airbnb said on its website. That would bring the guest service fee to as much as 16.5% of the subtotal, which excludes taxes. Hosts can also choose to tack on a cleaning fee, which has prompted complaints from some guests as being excessive. “From time to time, we adjust our fees to better align with the value we provide,” the San Francisco-based company said in an email to users Wednesday. The move could drive approximately $200 million to $500 million in incremental profit in 2025, according to TD Cowen analyst Kevin Kopelman. While the tailwind may be offset if users shift to paying in local currency at checkout, there may still be a high-single-digit impact to 2025 Ebitda, Ken Gawrelski, an analyst at Wells Fargo, wrote in a note. “Sometimes we make changes to give us flexibility to offer and evaluate new products, features and policies, including fees,” Sam Randall, an Airbnb spokesman, said in a separate statement to Bloomberg.

Debt mutual funds have been an instrument of choice while giving exposure to fixed income assets in investment portfolios. Tax efficiency was one of the major reasons for this. However, from April 1, 2023, there has been a change in income tax laws for mutual fund units bought on or after this date. Capital gains from units of any Mutual Fund (MF) scheme that has invested after this date and has only up to 35% assets in Indian equity would now come under Short-term Capital Gains (STCG) tax regime, irrespective of the duration of the investment. STCG tax is payable at one's applicable income tax slab rates. Capital gains from units of those mutual fund schemes that have invested 35%-65% in Indian equity in the MF scheme would qualify for long-term capital gains (LTCG) after 36 months of holding period. LTCG tax of 20% would be applicable, after indexation, for this category. This means that capital gains from units of pure debt funds would come under Short-term capital gains regime irrespective of the holding period and tax payable will be as per one's income tax slab rates. This is a major disadvantage. However, there are two mutual fund categories that offer returns similar to debt mutual funds in a tax efficient manner.

Ashok Leyland Ltd. traded 2.2 per cent up at Rs 173.5 at 11:51AM (IST) on Monday, even as BSE benchmark Sensex gained 917.2 points to 71617.87.

Havells India Ltd. gained 1.19 per cent to Rs 1306.5 in Monday's session as of 12:02PM (IST) even as the equity benchmark Sensex traded 978.46 points higher at 71679.13. Earlier in the day, the stock witnessed a gap up start to the session.

A look at the day ahead in European and global markets from Kevin Buckland

By Joe Cash and Christoph Steitz

Stock market today: Bharat Petroleum Corporation Limited (BPCL) is going to declare its Q3 results today. Therefore, BPCL share price is expected to remain under the radar of stock market observers and investors. Despite weak set of numbers expected by the market, BPCL share price today opened flat but soon gathered bulls' attention during morning deals on Monday.

health insurance plan is indispensable to keep your sudden expenses in check. Be it an accident or hospitalisation, unanticipated medical bills can throw your financial planning out of gear. Add a child birth, the scenario remains similar but the distinction lies in the fact that it is neither an ‘accident’ nor an ‘illness.’ The insurers, therefore, treat this life situation quite differently and even impose a waiting period of two years or so before one can start to avail the maternity benefit.

(Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) As the market is expected to see volatility in the near term, experts recommend buying technically and fundamentally sound stocks at the current juncture. Based on the recommendations of several experts, below are 12 stocks that one can consider buying for the next three to four weeks.

investing in the stock market in January 2024, would have noticed that the market has been slightly volatile of late. This has led to discussion around the prospects of the stock market in this election year. Given that it might be another tough year for the stock market, investors are looking towards “experts" now more than ever to tide over the rough times.

Bharat Jodo Nyay Yatra, calling it “political tourism". The Acharya said that Congress is “travelling", while other parties are gearing up for the upcoming 2024 Lok Sabha Elections. Rahul Gandhi's Bharat Jodo Nyay Yatra will on Monday reach Bihar through Kishanganj, a district with a heavy Muslim population which is also a party stronghold.