UPS Financial News

Anshul Saigal, Founder, Saigal Capital, says “one should really focus on bottom-up opportunities, not worry about the market levels, market direction. As long as we have got good companies at reasonable valuations in our portfolios, over the long term, we will be very well-placed. And there is a lot of money to be made in India.” Saigal also says: “We believe that, small banks, PSU banks, that is one space where value unlocking is yet ahead of us. Pharma, which has seen multi-year consolidation is coming out of that consolidation phase. We are quite positive on pharma. Then metals and minerals has seen a significant consolidation and adverse price action. This may look interesting going forward.” Market is at highs. People are looking for undervalued ideas. A section of the market on the consumption side, especially rural tier 2, tier 3 towns, QSR, FMCG as well as some other consumer categories – have underperformed because of inflation. Now that the inflation trajectory has peaked out, can this under-owned part of the market make a comeback? Also what categories would you bet on? Anshul Saigal: Yes, you are absolutely right that this is a market where it is no longer as easy as it was last year to identify opportunities.

Delhi grappled with a severe cold wave today, causing widespread disruptions in air and rail travel. The National Capital woke up to another chilling morning with temperatures recorded in single digits, leading to dense fog and significantly reduced visibility.

India's Kotak Mahindra Bank reported lower-than-expected third-quarter net profit on Saturday, weighed down by higher bad loan provisions and shrinking lending margins. The private bank reported standalone net profit of 30.05 billion rupees ($361.7 million) in the quarter ended Dec.

Market expert Ajay Bagga says the worst seems to be definitely over for the IT sector but the recovery will be slow. As we saw from the order books and the commentary of sluggish order flows coming through, margins are not that great and expectation is that it could take two to three quarters for things to normalise. What will be critical is how soon can they get onto the bandwagon of things like generative AI and machine learning. Those are the value additions that the market is looking to reward. But the worst is definitely over.” What is the market telling you because the midcap rally continues unabated and some very sharp earnings reactions, be it on the positive side by the IT big boys or on the negative by an HDFC Bank or for that matter, even IndusInd and Unilever? Ajay Bagga: Yes, quite surprising moves, actually, if you see and most of the impact has been due to the FII moves. Rs 23,000 crore worth shares being sold in these first few days, which was a surprise. We were not expecting a selloff by the FIIs and especially not of this magnitude. Maybe it is related to some of the Chinese money or the foreign money invested in China getting withdrawn and we being a collateral damage within GEM funds. Maybe some part of it was that. But I do not think fundamentally the earnings were that bad for the banks or were that good for the IT companies to see such sharp reactions.

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says PSU banks are an exception to the whole PSU story, because they are in effect going to finance the whole capex cycle and be the vehicle of government dispersal. “Among PSU banks, I would still go for good quality banks, not an issue, but as for other PSUs, it will be to some extent stock specific but bearing in mind that a low PE and a liquidity have been the causes for the rally there, I would exercise caution in terms of jumping into them unless I get a clear signal that there is going to be a strong EPS growth independent of all of this.” The earning season so far, what do you make of it and the kind of reactions or the exaggerated moves that we are seeing on stock price? Sunil Subramaniam: It has been tepid so far and it is early days though, let us not draw any conclusions.

OpenAI CEO Sam Altman has been talking to a number of potential investors in a bid to raise billions of dollars to set up a chip-making company, according to a report by Bloomberg. The 38-year-old entrepreneur is said to be looking to set up a network of factories to manufacture semiconductors. Also Read | Sam Altman addresses ‘nervousness’ around Artificial Intelligence: ‘It's on us to…' Notably, building a state-of-the-art manufacturing facility would require tens of billions of dollars in funding, and creating a network of such facilities will take years, Bloomberg reported.

Stock Market News: Domestic equity benchmark indices, Nifty 50 and Sensex, ended in red on Saturday's session due to losses led by information technology (IT) firms, Hindustan Unilever, and Reliance Industries. Conversely, private banks saw selective purchasing following the recent strong correction and steady Q3 earnings.

Also Read | Ayodhya Ram temple's first visuals ahead of 'pran pratishtha' ceremony: Watch The video showed a group of cows meandering down the six-lane expressway, grazing on the medians and seemingly unfazed by the occasional speeding vehicle. The Samajwadi Party leader accompanying tweet quipped, “This is the world's first 'OXPRESS WAY' built in Uttar Pradesh... whose slogan is Aapki Jaan, Aapke Haath." Yadav's supporters seized the opportunity to criticize the BJP government in the state, said, “Akhilesh gave a world-class expressway! In Yogi Ji's rule, it's the OXPRESS WAY," in Hindi.

Ayodhya on 22 January, in several cities, bridges, temples, roads have been lit up to celebrate the grand opening. Mumbai's Bandra-Worli Sea Link also jumped on the bandwagon to celebrate on Saturday night with Lord Ram's image seen illuminated on the sea bridge. Mumbai Bandra-Worli Sea Link is a cable-stayed bridge with eight lanes and a length of roughly 5.6 kilometers which links Worli in South Mumbai with Bandra in the Western Suburbs of Mumbai.

banking sector, contributing to a decline in shares of a competitor in recent days, Bloomberg reported. The shares of ICICI Bank closed 2.55% higher at ₹1,011 per piece on January 20, against previous close at ₹986.35 on January 19. The stock has gained nearly 1.45% in the last six months and 16.04% in the last one year.

Tata Mumbai Marathon (TMM). Some would have finished, some will still be pounding the pavement, others might have found the distance a little too much.

(This story originally appeared in on Jan 21, 2024)

At first glance, of course, the demonstration of investor confidence in a hitherto neglected investment pocket, which makes up nearly a sixth of the weighting on the Nifty, appears difficult to square with performance in the immediate past. Business growth has remained muted for most IT majors in the third quarter owing to multiple headwinds related to uncertainty in decision-making, deferred discretionary and technology spends, US recession concerns, and geopolitical tensions.

gold jewellery to smartphones to televisions to improve sales in the December quarter after struggling in most of 2023, latest earnings report of companies and market researchers' data show. In electronics, smartphone sales bounced back after five quarters of decline, driven by high sales of premium models such as Apple iPhones and Samsung Galaxy S23 series, and demand for large screens during the cricket world cup helped TV sales volume grow by 8-9% on year — up from 2% growth during January to September — last quarter, industry executives said. While overall gold demand has been muted due to record high prices that rose 15% in 2023 as per the World Gold Council, two of the largest retailers in this segment — Reliance Retail and Titan Company's Tanishq — said demand was robust in the October-December quarter. Titan in an investor note said the growth in gold last quarter exceeded the studded sales growth despite elevated prices and volatility. The company's jewellery division reported sales growth of 21%. Reliance Retail's chief financial officer Dinesh Taluja told analysts on Friday that the jewellery store format had a «very good» last quarter, driven by the festive and wedding buying season with its highest ever sales last Dhanteras. The country's largest retailer also grew electronic sales by 19% year-on-year last quarter.

Pran Pratishtha ceremony of the Ram Temple in Ayodhya, Shri Ram Janmabhoomi Teerth Kshetra Trust released breath-taking images of the newly built temple. The temple trust shared the inside pictures of the mandir on its official X handle. Shri Ram Janmabhoomi Teerth Kshetra is a trust set up for the construction and management of Ram Mandir in Ayodhya by the government in February 2020. With just two days left for the mega event in Ayodhya, the whole country is eagerly waiting for the inauguration ceremony of the Ram Temple. The idol of Ram Lalla was placed in the 'Garbha Griha' of the Ram Temple on Friday amid joyous chants of 'Jai Shri Ram.' Prime Minister Narendra Modi will perform rituals to mark the 'Pran Pratishtha' while a team of priests, led by Lakshmikant Dixit, will lead the main rituals.

Uttar Pradesh government is gearing up to ensure that Ayodhya is ready for the expected surge in tourists after the Ram Mandir Pran Pratishtha ceremony gets over on January 22 and the temple is opened to the public two days later. In focus are accommodation, logistics, traffic movement, parking spaces, drinking water arrangements, route diversions and the availability of electric buses for the movement of pilgrims inside Ayodhya city, among other things. Politically, the Yogi Adityanath government wants to send a nation-wide message ahead of the general elections that Uttar Pradesh is a well-administered state by ensuring a proper welcome to pilgrims arriving from elsewhere in the country. The UP government expects at least 100,000 pilgrims every day after the January 22 ceremony and estimates that at least 20 million people will arrive in Ayodhya in the next six months to offer their prayers at the newly built Ram temple.

LIVE Updates here The new images show the inside of the ornate temple lit up and decorated with flowers ahead of the consecration ceremony. The first photo of the new Ram Lalla idol, covered with a cloth, emerged on social media late on January 18 night. Subsequently, images without the cover circulated on various social media platforms.

On a cool Thursday afternoon in Ottawa, veteran police officer Sgt. Avery Flanagan approaches a man hunched over in a downtown parking lot. He has crushed opioids in one hand and a needle in the other.

Concord: Former South Carolina Governor Nikki Haley was set to campaign across New Hampshire this weekend in a final push against Republican rival Donald Trump ahead of Tuesday's nominating contest, as the former US president ramped up his verbal attacks and again targeted her Indian heritage.

oil market appears to be bracing for a weeks-long disruption to shipping in the southern Red Sea, where Houthi militants have for months been attacking merchant vessels in response to Israel's war in Gaza. Charters of tankers to haul crude and fuels — which for some vessels are arranged up to a month in advance — reveal growing numbers of the vessels are being hired for routes that will avoid the danger zone, according to shipowners, brokers and traders.

Prime Minister Narendra Modi will visit the Arichal Munai point, the point from where the Ram Setu was built, on Sunday morning, a day ahead of the Pran Pratishtha ceremony of Ram Lalla in Ayodhya. The Prime Minister is scheduled to visit the Ram Setu's origin point at 9:30 am. At 10:15 am, PM Modi will perform puja at Sri Kothandarama Swamy temple. The name Kothandarama means Rama with the bow.