UPS Financial News

Aditya Arora of Adlytick, said “in buzzing stocks like RailTel, IRFC and IRCTC, the market has priced in more than there is on the table. So, they seem pretty overvalued, overstretched, and charts are looking pretty overbought. It is a good time to lock the profits wherein people had invested previously at lower levels. Now, it is time to take chips off the table because correction is very likely in these counters.” Let us talk about the PSUs. Actually, all these public sector entities, whether you look at a RailTel, RVNL, IRCTC, Tourism Finance, IRFC, all of them are buzzing in trade and the run up that we have seen in these stocks, even in just the last five days, is something that one cannot fathom. What are the charts looking like for any of these names? Aditya Arora: There is good news to back that up as you said RailTel, IRFC, IRCTC, everything is buzzing away. But I think the market has priced in more than there is on the table. So, they seem pretty overvalued, overstretched, and charts are looking pretty overbought. It is a good time to lock the profits wherein people had invested previously at lower levels. Now, it is time to take chips off the table because I think correction is very likely in these counters.

Mahantesh Sabarad, Independent Market Expert, says “most of the banks, like I have told you before, now have a problem related to growth because the deposit growth, which was lagging in the past, has caught up for the past three-four months but is not enough. That means that the growth on the advancing side is going to be constrained.” What is your first sense on the numbers, the profitability is a smidge lower. But if I am looking at other internals, they do not look too bad. What's your initial take? Mahantesh Sabarad: I have not been able to look at NPA numbers, let me know, because that was what was a little crucial for them to look at. And from a perspective of growth, which is the advances growth, I do not think they have achieved a great number. The net NPA percentage has come down to 0.34 versus 0.37 last quarter and net NPA stands at 1.73 versus 1.72. So there is a smidge of, you know, decline in gross NPA, but net NPAs have actually improved. Mahantesh Sabarad: I have been able to read it from a stand-alone perspective. So there is not much in terms of a material improvement in the asset quality for them. What was expected is that they were working on the asset quality related issues but that does not seem to have come down for them. As far as the top line, which is the NII is concerned, it suggests that the NIMS are steadier for them. So the result seems to be alright. But the NPAs are a little worry.

Persistent Systems on Saturday said that its has board approved splitting the value of shares in the ratio of 2 for 1. The existing one equity share having a face value of Rs 10 each, will be split into two equity shares having a face value of Rs 5 each, the company said in an exchange filing. This is the first time the company will be splitting the shares since it got listed.

Houthis, a Yemeni rebel group, are attacking commercial vessels. As a result far fewer ships are using the Suez Canal, a shortcut from the Indian Ocean to the Mediterranean Sea. The volume of trade passing through the Panama Canal, which connects the Atlantic and Pacific Oceans, has declined by 30% since November, after severe drought hit its reservoirs, lowering the water level.

₹19,641 crore. The company's gross revenue rose by 3.2 per cent YoY to ₹2,48,160 crore led by continued growth momentum in consumer businesses. EBITDA for the quarter jumped 16.7 per cent YoY to ₹44,678 crore while the EBITDA margin rose 210 bps to 18 per cent.

Finance Minister Nirmala Sitharaman is all geared up to present the budget for the fiscal year (FY) 2024-25 on 01 February 2024, for the sixth consecutive year. So far, India has witnessed 91 budgets, which are 73 annual budgets, 14 vote-on-account or interim budgets and 4 special budgets, or mini-budgets. The upcoming Lok Sabha elections this year will mark the country’s 15th Interim Budget.

Credit cards have become an integral part of our financial landscape, offering convenience and flexibility. However, maximising the benefits of your credit card requires strategic planning and responsible usage.

By Echo Wang and Anirban Sen

Multibagger stock: Shares of Sigachi Industries Ltd are one of the multibagger stocks that the Indian stock market has delivered in the last one year. The multibagger pharma stock has risen to the tune of 145 per cent in the last one year. However, it seems that the pharma stock still possesses some upside potential.

As finance minister Nirmala Sitharaman gears up to present the vote-on-account budget for fiscal year 2024-25 (FY25) on 1 February, India's economy finds itself at a crucial juncture. The mix of current macroeconomic indicators presents both opportunities and challenges for the finance minister. On the bright side, growth projections are promising.

, Apple unveiled two additional configurations: a version with 512 gigabytes of storage for $3,699 and a top-end model with a capacious 1 terabyte of space for $3,899. The base model comes with 256 gigabytes of storage. Complementing the headset, Apple will offer a carrying case for $199, additional batteries for $199, and extra bands priced at $99 each.

₹335.54 crore. The company had reported a profit of ₹200.75 crore in the year-ago period.

₹78 apiece following the release of the bank's Q3FY24 numbers. The bank reported a robust performance in all key parameters. It reported a 57% YoY jump in its standalone net profit to ₹1,458 crore.

₹15,188 crore was flattish year-on-year. Pricing growth turned negative in Q3 and can remain under pressure in the foreseeable future. Not surprising then that HUL’s shares fell by over 3% on Saturday.

By Foo Yun Chee

BEIJING (Reuters) — China's coal imports from Australia picked up in 2023 after a ban of nearly two years was lifted, but they remained below pre-ban levels as the supplier tries to regain market share from cheaper competitors Mongolia and Russia.

By Gram Slattery

By Gram Slattery and James Oliphant

Kotak Mahindra Bank on Saturday reported a nearly 8% year-on-year (YoY) growth in net profit for the quarter ended December to Rs 3,005 crore, but the figure was lower than the estimated Rs 3,250 crore. Net interest income, the difference between interest earned and interest expended, rose nearly 16% YoY to Rs 6,553 crore. Provisions and contingencies surged to Rs 579 crore from Rs 149 crore a year ago. Pre-provision operating profit increased 19% YoY to Rs 4,566.21 crore but declined nearly 1% sequentially. On the asset quality front, the gross non-performing assets as a percentage of total loans was 1.73% as of December end compared to 1.90% a year ago, and 1.72% a quarter ago. The net non-performing assets ratio was 0.34% as of December end, compared to 0.43% a year ago, and 0.37% a quarter ago. During the quarter, Kotak Bank also made a provision of Rs 143 crore for investments into the Alternate Investment Fund (AIF).

Ram temple site, has been named Ramjanmabhoomi Path. The bank's branch office, located in the vicinity, has been beautified with ornate lampposts and canopies with claddings on the side walls while a huge banner mounted on the wall bears an imposing image of the Ram temple along with the bank's name. Near the redeveloped Ayodhya Dham railway station, another PSU bank has set up a huge hoarding that reads ''Ayodhya Nagari mey aapka swagat hai".

Arvind Kejriwal, NCP chief Sharad Pawar, RJD patriarch Lalu Prasad, and Shiv Sena (UBT) leader Uddhav Thackeray have some other plans for the day. The Congress turned down the invitation for the 'Pran Pratistha' ceremony of Lord Ram Lalla. Senior Congress leaders--Mallikarjun Kharge, Sonia Gandhi, and Adhir Ranjan Chowdhury--have 'declined' the invitation to the grand event in Ayodhya.