UPS Financial News

Bharat Jodo Nyay Yatra on Tuesday. Congress MP Rahul Gandhi was stopped from entering the city, triggering protests from party workers who broke barricades and raised slogans. He later addressed party supporters on the outskirts of the city, and said, "We have broken barricades, but will not break the law".

The world's top hedge funds raked in record profits last year amid a resurgence in stock markets, new analysis showed.

foreign investors. Some are most worried by China’s souring relations with Western governments. Others fret about the unprecedented slump in the country’s property market.

₹460 apiece on NSE. On BSE, Medi Assist shares began trading at ₹465 apiece, up 11.24% than the IPO price of ₹418. After a decent listing, Medi Assist Healthcare shares made a high of ₹509.60 apiece.

Persistent Systems, a global services and solutions company, spiked sharply in today's trade after delivering impressive performance for the December-ending quarter (Q3 FY24). The company on Saturday (January 20) released its Q3 FY24 performance post-market hours, reporting an 8.7% QoQ and 20.2% YoY jump in its consolidated net profit to ₹286 crore. In the same period last year and in the preceding quarter (Q2FY24), the company posted a net profit of ₹238 crore and ₹263 crore, respectively.

₹1,629 crore have been sanctioned for 46 projects. Eighteen of the approved projects alone are expected to generate 2.5 million jobs, the government estimates.

Salaried individuals are expecting a separate deduction for repayment of home loans, enhancements in Section 80C and 80D deductions, and measures to encourage the shift to the new tax regime for home loan borrowers. Here's what a common man wishes from the Finance Minister in the Union Budget on February 1. Presently as per Section 80 CCE the deductions available under Section 80C, 80CCC, and 80 CCD(1) put together are capped at ₹1.50 lakh per year.

Union Budget 2020-21 which provided for lower tax rates for individuals compared to tax rates under the old tax regime. However, it comes with the condition that a taxpayer has to forego several deductions and rebates available under the old tax regime. An individual has an option to choose either old tax regime or new tax regime for each financial year.

OnePlus will be live-streaming the event on YouTube, starting at 7:30 PM. The live stream will also be available across all OnePlus social media handles. For those keen on catching the event live, the YouTube link is here.

DLF Ltd. traded 1.57 per cent down at Rs 763.65 on Tuesday at around 11:22AM (IST), while the benchmark BSE Sensex declined 73.26 points to 71350.39.

Gautam Shah, Founder & Chief Strategist, Goldilocks Premium Research, says “metals have started to look quite interesting. Nalco is a very high conviction idea for us for the whole of 2024 and can deliver supernormal returns. Steel Authority of India, Tata Steel, JSW Steel may beat the Nifty returns for sure for the next two to three quarters. Auto ancillary, I think, is a very interesting space as is fertilisers. Paper stocks and that entire unlocked theme of airlines, hotels. Other unlocked theme stocks like Sapphire Foods, Devyani International have very good fundamentals and have not done as well as some of the other themes. They should do quite well.”

Want to take exposure to a sector which grows much faster than GDP

Varun Beverages Ltd. fell 0.19 per cent to Rs 1256.6 at 11:16AM hours (IST) on Tuesday. Earlier in the day, the stock saw a gap up start to the session.

ICICI Lombard General Insurance Company Ltd. gained 1.39 per cent to Rs 1495.0 in Tuesday's session as of 11:11AM (IST) even as the equity benchmark Sensex traded 28.43 points lower at 71395.22.

My 66-year-old sister has no income and no one to support her after she lost her son. I have decided to sell her flat and move her to a senior living home with a monthly expenditure of Rs 50,000. The sale will leave me with about Rs 1 crore after deducting capital gains tax. How should I invest this amount to generate a monthly income for her? Vidya Bala, Co-Founder, PrimeInvestor.in: Invest in safe options that give around 7% return. Choose from the Senior Citizens’ Savings Scheme, RBI Floating Rate Bonds, and bank fixed deposits that you can lock in at this rate for five years or more. Considering her age, keep at least 10% of the corpus in a combination of savings bank account and short-term bank FDs so that it can be easily liquidated. This will also be necessary to pay taxes, apart from possible medical needs.

₹5 to ₹10 per food order, as per a Moneycontrol report. The move is seen as a strategic effort to reduce losses as the company gears up for its upcoming initial public offering (IPO) later this year, it added. Swiggy has started hinting at the potential fee hike on its app, targeting select customers.

Kotak Mahindra Bank share price gained up to 1% in morning trades on the BSE on Monday post Q3 Results over the weekend. Even though net profit missed estimates of some analysts, the same was due to one-offs. Kotak Mahindra Bank (KMB) reported standalone net profit growth of 7.6% YoY to ₹3005.

Mira Road on Monday, ahead of the Ayodhya Ram Mandir Pran Pratistha ceremony. Police urged the people of Mumbai to maintain peace and said the cops had taken “timely action". Fadnavis also informed that the police have launched a probe into the incident.

Also Read: India overtakes Hong Kong as world’s fourth-largest stock market by market capitalisation However, he advises investors to remember that sentimental impact cannot last long. “Tensions in West Asia and the Red Sea are areas of serious concern. If something goes wrong, the market will be impacted since valuations are high.

₹460 per share, 10% higher than the issue price of ₹418. On BSE, Medi Assist share price was listed at ₹465 apiece, up 11.24% than the issue price.

By Leika Kihara and Tetsushi Kajimoto