UPS Financial News

Ethos, one of India’s leading luxury and premium watch retail players, are set to cross the ₹3,000 mark from their current market price of ₹2,370 apiece, according to projections by domestic brokerage firm Axis Securities. Axis Securities believes that Ethos is well-positioned, as the luxury market in India is expected to expand fivefold in the next decade. This growth is attributed to the increasing number of affluent consumers in the country with higher aspirations and disposable income.

Mint’s Ravi Krishnan, Gupta, who manages assets worth ₹2.27 trillion, emphasised that the biggest thing to monitor in the upcoming interim budget is the government's commitment to its fiscal consolidation plans. Edited excerpts: I think after the results of the state election, both concerns seem significantly mitigated. Going into the polls, there was apprehension that competitive populism might emerge, but this government has largely avoided this in recent years.

Also Read- ICICI Bank share price in focus ahead of Q3 results today. Do you own? BNP Paribas continues to prefer financial services, information technology and telecom, while they have added logistics in their outperformance space. They expect consumer staples, pharma and autos, to underperform given their rich valuations.

Rail Vikas Nigam and Indian Railway Finance Corporation (IRFC), locked in 10% upper circuit limit in today's trade, while another railway PSU, Ircon International, soared by an additional 15%, touching a new all-time high of ₹261.35 apiece. Railway PSUs have been on an upward trajectory since the government announced a substantial capital outlay of ₹2.40 lakh crore for the Indian Railways in the Union Budget 2023-2024. This marked the highest-ever outlay, approximately nine times the investment made in 2013–14.

Apple has reached an agreement to settle a US class action lawsuit, in which the company will be paying $35 million to iPhone 7 and iPhone 7 Plus users, who were prone to audio issues due to a defective chip in the devices. The company has now started notifying eligible customers by email, MacRumors reported.

railway stocks as they continue to move on the fast track ahead of the 2024 Budget. Ircon International was the leader in the pack on Saturday, gaining 15% while hitting a fresh 52-week high.

Nifty started the week on a positive note but witnessed selling at higher levels to end the week on a weak note. The Nifty50 closed at 21622 on 19th January with a loss of 272 points on a weekly basis. On the weekly chart, the index has formed a Bearish candle which engulfed its previous week's move, forming a «Bearish Engulfing» candlestick formation, indicating a bearish reversal. For confirmation of this formation, a break and close below the previous week's low are necessary, which could signal a change in the trend to the downside. The chart pattern suggests that if Nifty crosses and sustains above the 21700 level, it could witness buying, leading the index towards 21800-22000 levels.

Ashok Singhal, the former Vishwa Hindu Parishad president, the one responsible for taking up the matter with the chief of Larsen & Toubro, AM Naik, at that time. «L&T is a reputed firm. The plan to build the temple was discussed 15 years ago or so.

Shirish Pardeshi of Centrum Broking, says “in the next two quarters, the price value led growth would be lower and which will normalize from the first quarter or even in Q4, unless there is a drastic change in the economic indicators, which can push the volume. Further Pardeshi says: “Starting from Q1, when the business is getting split into beauty and well-being and the personal care and also there is attention in terms of ad spends and promotion spends, it will definitely lift the growth momentum for the company.” A top down miss, the underlying volume growth of 2%, how are you reading into the numbers and did you anticipate this kind of a downfall for HUL? Shirish Pardeshi: Two things are very clear. We know that HUL draws a lot of business from the rural areas and there the expected recovery around the festive season has not happened. That is the first part.

Antarctic seas but expedition leader Ian Strachan knew his ship was approaching a true behemoth: the world's biggest iceberg lay somewhere ahead. «Then the clouds lifted and we could see this expansive — almost abstract — white line that extended each way across the horizon,» he told AFP.

Budget expectations: India’s tryst with manufacturing has finally taken a leap of faith. The country’s ambition to become a $10 trillion economy by the turn of this decade is helping reinvent the real potential of its manufacturing sector.

TORONTO — The head of Canada’s banking regulator says he’s ramping up scrutiny of money laundering in the financial sector as risks increase.

Stellantis NV boss Carlos Tavares has warned carmakers cutting electric vehicle prices too fast risked a “bloodbath” in the industry, hours after Ford said it was reducing production of its battery-powered F-150 Lightning pick-up truck because of weaker sales.

The rally in rail stocks seems to be far from over, with stocks like IRFC witnessing a 41% gain in the week. “Given the trend and momentum, the stocks in this space are experiencing increasing demand every single day. I believe this momentum might carry over in the short term, and dips would be bought into. So, consider dips to get into the stocks in the railway space,” says Rupak De, Senior Technical Analyst at LKP Securities. Edited excerpts: Following the buying seen on Friday, how does the Nifty chart look like for monthly expiry ahead? How strong is the support at around the 21,300 level? Rupak De: Following a carnage on Wednesday, the bulls made a strong comeback on the last day of the week, taking Nifty back above the 21EMA.

ICICI Bank will announce its December quarter earnings, later today where it is expected to report a 20% year-on-year (YoY) growth in net profit at Rs 9,984 crore, and net interest income (NII) of Rs 18,474.30 crore which is sa 12% uptick as per the average of estimates given by 12 brokerages. ICICI Bank’s October-December quarter earnings is likely to be aided by a higher than industry growth in the loan book, lower credit costs, and steady asset quality. India’s second largest private sector lender is expected to report a 20% year-on-year (YoY) growth in net profit for the December quarter to Rs 9,984 crore, and net interest income (NII) is seen growing by 12% to Rs 18,474.30 crore, the average of estimates given by 12 brokerage firms showed.

Grim milestones have kept piling up in recent days: Tokyo has overtaken Shanghai as Asia’s biggest equity market, while India’s valuation premium over China has hit a record. Locally, a meltdown in Chinese shares is wreaking havoc on the nation’s asset management industry, pushing mutual fund closures to a five-year high. The Hang Seng China Enterprises Index has already lost 11% in 2024.

bitcoin began trading last week, making it easier for anyone with a basic brokerage account to buy a slice of the digital currency. Several established financial institutions, including Fidelity and BlackRock, have coalesced around bitcoin because it is the world’s first and largest cryptocurrency. But bitcoin remains an enigma to most everyday investors, and it’s hard to separate the buzz from any true potential. It’s also wildly volatile. In other words, it’s a bet. And institutions are wagering that plenty of investors want in.

Arun Misra, CEO, Hindustan Zinc, says “if the market cap goes up, only the government starts to gain during the disinvestment process. We also believe that divestment of shares of silver company and zinc company separately will be easier than divestment of Hindustan Zinc shares as two different sets of buyers or investors will be attracted to buying these two different kinds of company shares. So I expect a positive nod from Government of India nominee directors by the next board meeting. And then we will take some time to implement.” It has been a pretty strong set of earnings, revenue growth of 8%. Margins as well have expanded nearly 200 basis points. Let us talk about the demand scenario. On ground, both domestically as well as international, are we seeing this gradual recovery play out? Arun Misra: Demand in India has been good and there is no dearth of demand.

Voltas Ltd. with a target price of Rs 1150.

IRCON International soared 15 percent in intra-day deals today to its new high of ₹261.35 followed by Rail Vikas Nigam (RVNL), which has rallied 10 percent to its record high of 320.75. Meanwhile, IRFC (Indian Railway Finance Corp) surged 9.7 percent to its new peak of ₹176. RailTel jumped 8 percent to its all-time high of ₹417.80 and IRCTC advanced 4.7 percent to its 52-week high of ₹1,029.85.

₹57,000. Similarly, the diesel variant of the same model, available with both manual and automatic transmissions, has seen a price hike of up to ₹53,000. Interestingly, the price adjustments have not been uniform, as eight variants of the XUV700 have seen a reduction in prices, with the four entry-level petrol variants experiencing cuts of up to ₹15,000.