UPS Financial News

undervalued stocks available at a good bargain. These stocks not only offer a safety margin in their valuations but also show promising signs of aligning with the market's upward momentum, potentially heralding a prolonged bullish phase. This scenario presents a potential win-win if navigated astutely.

Interim Budget 2024: From capital gains tax provisions to input tax credit, here's real estate industry's wish list The positive home-buying sentiment experienced in 2023 is expected to spill over into 2024. With urbanisation being the primary driver, the demand for real estate is anticipated to remain robust.

Bank of Baroda and Federal Bank - in the red. Shares of AU Small Finance Bank, Bandhan Bank, Punjab National Bank, HDFC Bank, Kotak Mahindra Bank and ICICI Bank were among the top gainers in the Nifty Bank index at that time. The Nifty Bank index has been volatile of late.

₹8-9 trillion are being made in infrastructure every year. A finance ministry spokesperson didn’t respond to emailed queries. Experts said infrastructure projects would benefit significantly from a dedicated credit enhancement body as it would ensure investments required over the medium to long term are realized.

Stock in focus: After the announcement of Reliance results for Q3FY24 on Friday, market observers and stock investors are expected to remain vigilant about the movement of Reliance shares on Saturday. The Sensex heavyweight on Friday reported an 11 per cent YoY rise in net profit during the October to December 2023 quarter. The energy-to-telecom conglomerate's gross revenue in the third quarter of the current fiscal rose 3.2 per cent YoY to ₹2,48,160 crore.

Paytm share price rose over 3 per cent in early deals on the BSE on Saturday, January 20, a day after the company reported its December quarter scorecard. Paytm share price opened 2 per cent higher at ₹789.50 against the previous close of ₹773.90 and soon rose about 3 per cent to the level of ₹797.70. Around 9:20 am, the stock was 1.42 per cent up at ₹784.90 on the BSE.

Garena Free Fire Max is a revamped version of the original Free Fire game that was banned by the Indian government in 2022. Since its launch in India, Garena Free Fire Max has been wowing Indian audiences with its vibrant graphics and intense gameplay. Adding to the excitement around the game is the release of daily redeem codes by the developers of the battle royale game, 111 Dots Studio.

Read more here Reliance Industries Limited reported a 10.9% increase in its net profit to ₹19,641 crore in the third quarter of FY 23-24. The company's total revenue from operations stood at ₹2,27,970 crore during the quarter under review. The robust performance of the oil and gas segments was one of the major highlights of the quarterly results of Mukesh Ambani's firm.

Meta Platforms Inc. shares closed at their first record high in more than two years on Friday, as the Facebook parent fully recovers from a selloff that at one point had erased more than three-fourths of its value. The stock rose about 2% to $383.45, surpassing an all-time high that has stood since September 2021. The record is the latest milestone in a lengthy recovery for the stock.

Apple is prepared to open the iPhone's ability to tap-to-pay to rivals — in the EU — after coming under fire for keeping users in its own ecosystem, the European Commission and the company said on Friday. The commission, the European Union's market regulator, said it was weighing Apple's proposal, which was made after Brussels determined that the Cupertino company enjoys a dominant position in iOS mobile wallet transactions by shutting out competitors.

Walt Disney and Mahindra group officials have joined the Board of Directors of US India Strategic and Partnership Forum, which the organisation said is testimony to the success story of American companies in India and a growing presence of Indian conglomerates in the US. The two officials are Dorothy Attwood, senior vice president of Global Legal, Policy and Compliance for The Walt Disney Company, and Amarjyoti (Amar) Barua, Executive Vice President (EVP) of Group Strategy at the Mahindra Group to the Board of Directors, the US India Strategic and Partnership Forum (USISPF) said in an announcement. Attwood, in her current role, is responsible for the company's international legal and government affairs functions around the world, outside of the US, and leads strategic public policy initiatives as well as ESG and Sustainability globally across all business segments.

Elon Musk has said a report that his artificial intelligence (AI) company, xAI, has secured $500 million in commitments from investors toward a $1 billion goal is inaccurate. «This is simply not accurate,» he said in a reply to a user post about the Bloomberg article on social media platform X.

Galaxy Unpacked Event 2024: From Samsung Galaxy S24 Series to Smart Ring; checkout the top 5 announcements According to a report by Gizmochina, the new Samsung smartphone with the model number "SM-G556B" has received BIS certification in India in November 2023. The smartphone has also received certification in Malaysia and Thailand. Reportedly, the Galaxy XCover 7 is expected to feature an IP 68 water resistance rating and have enhanced display protection thanks to the Corning Gorilla Glass Victus+ protection on the front.

Also Read: Budget 2024: Focus on rural schemes, infra investment likely, says veteran fund manager Mihir Vora Sitharaman's declaration that it will be a vote of account suggests that no significant policy announcements are likely expected in this interim budget. With the announcement of the election dates around mid-March, the model code of conduct (MCC) is expected to come into effect barring the government from announcing any policy decisions.

Sensex jumped 496.37 points, or 0.70%, to end at 71,683.23, while the Nifty 50 settled 160.15 points, or 0.75%, higher at 21,622.40. “Next week the result season will pick up pace with a host of key large and mid-cap companies releasing their numbers. Overall we expect domestic equities to trade in a broader range with positive bias," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Buy or sell stocks for today: Despite being Saturday today, dealing on Dalal Street will take place from 9 AM to 3:30 PM. The decision has come ahead of the Ram Temple ‘Pran Pratishtha’ ceremony in Ayodhya on Monday, January 22. So, the stock market in India will remain closed on the following Sunday (21st January 2024) and Monday (22nd January 2024).

₹10,000 crore from ₹8,312 in the same quarter of last fiscal year, as per average brokerage estimates. Healthy fee income and stable cost ratios is likely to support Pre-provisions operating profit (PPOP) growth.ICICI Bank Q3 Results Live: ICICI Bank’s Q3 loan loan growth is expected to remain healthy, led by Retail and SME segments.

Buy or sell stocks for today: Generally, the Indian stock market remains closed on Saturday and Sunday but on 20th January 2024, dealing on Dalal Street will take place from 9 AM to 3:30 PM. The decision has come ahead of the Ram Temple ‘Pran Pratishtha’ ceremony in Ayodhya on Monday, January 22. So, the stock market in India will remain closed on the following Sunday (21st January 2024) and Monday (22nd January 2024).

Elon Musk's artificial intelligence (AI) company, xAI, has secured $500 million in commitments from investors toward a $1 billion goal, Bloomberg News reported on Friday. The artificial intelligence (AI) startup xAI is discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks, the report added, citing people familiar with the matter.

Banks are likely to make representations to the Reserve Bank of India (RBI) on sustained liquidity drainage that has pushed up funding costs for lenders despite unchanged policy rates for nearly a year. Liquidity has steadily declined with the central bank repeatedly stressing the primacy of maintaining price stability as Indian voters get ready to elect their next government this summer. «Banks and other participants in bond and interest rate markets will send a representation on the issues on Liquidity Coverage Ratio (LCR) buffers and high cost of funds to the RBI,» a source told ET. «This will be done next week, ahead of the policy statement on February 8,» the source said. LCR refers to a post-global financial crisis norm that requires banks to maintain high quality liquid assets (HQLA) to meet 30 days of net fund outflows under conditions of stress.

Ayodhya next week, with thousands of Indian Americans likely to attend a series of events beginning this week. «Ayodhya is re-emerging from destruction and neglect, epitomising the eternal nature of Sanātana Dharma. The upcoming consecration at Ram Lalla Mandir after 550 years is bringing immense joy to the city and nearly a billion Hindus across the world,» Kalyan Viswanathan, president of the Hindu University of America said in a blog post. The consecration ceremony at the Ayodhya temple wiil be held on January 22.