UPS Financial News

Varanium Cloud Limited, a digital technology company, is setting up its second office and business process outsourcing (BPO) centre at Sawantwadi in Maharashtra. The BPO centre will focus on data accounting, background verification and debt recovery, among other activities. It is expected to create 200 IT jobs in Sindhudurg district, according to a press release issued by the company on Friday.

Sandip Sabharwal, asksandipsabharwal.com, says “the consumption slowdown is a reality and when it will bottom is tough to say. But normally, it tends to bottom once inflation gets stabilized and then there is a pickup. Hopefully from this quarter, we see some signs of a pickup that could continue into 2024.” The markets went up, ignored all the worries and now the reality is just dawning on us. It is the other way around. Sandip Sabharwal: I think the reality of what is dawning is that the results which were expected might not be as good as what people were expecting. And that is what we have seen with the largecap technology results, which excited a lot of people, but I think the worry is out there and next year will not be as good as what people expect. Then we had insurance companies, which also disappointed and HDFC Bank. Now IndusInd Bank's results are slightly different from HDFC Bank in that they were able to maintain their NIMs but then there is some stress on the balance sheet, so they use their contingency reserves to show better results. The markets overall, are fully priced in a sense. We need some sort of value correction, some sort of time correction, for the markets to become healthy overall for a patient investor.

Tata Power Company Ltd. gained 1.04 per cent to Rs 349.1 in Friday's session as of 01:03PM (IST) even as the equity benchmark Sensex traded 519.63 points higher at 71706.49. Earlier in the day, the stock witnessed a gap up start to the session.

Ayodhya and Ayutthaya, one in India and the other in Thailand. Separated by geographical boundaries, the two towns are united not just in name but also in faith with the religious fervour in the home of Ram finding echo 3,500 km away in a foreign land. As Ayodhya gets ready for the consecration of a grand Ram temple three days away, devotees in Ayutthaya are also preparing to join the celebrations.

Adani Power Ltd. fell 0.79 per cent to Rs 520.5 in Friday's session as of 01:13PM (IST) even as the equity benchmark Sensex traded 538.25 points higher at 71725.11. Earlier in the day, the stock witnessed a gap down start to the session.

₹150 crore of shares in the firm, said company's notice to investors on Financial Express (FE). Volrado Venture Partners Fund-III-Beta received 32,15,434 equity shares valued at ₹100 crore on January 17 at a price of ₹311 per share.

₹3,500 crore to be used for the acquisition of stakes in Capital Foods Private Limited and Organic India Private Limited. The funds will be raised through the issuance and allotment of Commercial Papers, it added.

Budget 2024: What is Vote on Account? Significance and more… Nirmal Bang expects fiscal consolidation in FY25 with a deficit likely at about 5.5 per cent of GDP, largely driven by moderation in government capex growth at 15 per cent. The brokerage firm highlighted the following six major themes that could dominate the Interim Budget 2024. Take a look: Nirmal Bang expects the fiscal deficit to come in at 5.5 per cent of GDP in FY25, led by moderation in capex growth to 15 per cent from an estimated 36 per cent in FY24.

HDFC Bank Ltd., the country’s biggest private sector lender. A gauge of the country’s top 12 largest banks is set for its worst week since September, erasing nearly $21 billion in market value through Thursday’s close. Two-thirds of that bruising loss came from HDFC Bank, whose quarterly numbers showed falling net interest margins and weaker deposit growth.

₹370 were higher compared to ₹357 in the previous quarter and ₹359 in the year ago quarter. The quarter also saw some moderation in raw material costs. Though demand in certain pockets and regions saw temporary impact due to state elections, labor availability in festive season, rains and floods in the South India, and construction bans in Delhi NCR and some other regions to curb pollution.

Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, believes that any populist measure in the Budget which can increase the fiscal deficit will be seen in a negative light by the market participants. In an interview with MintGenie, he noted that any increase in taxes related to the capital markets like STT, Capital Gains, etc. can lead to a negative impact on the markets.

Fog in Delhi is an annual event, and extraordinarily long lasting this winter. It has delayed flights, trains, caused accidents on roads and created heartburn all around. So far, so expected.

Bollywood director Rohit Shetty and Sushwanth Prakash, who assists Shetty in his films. The action thriller has started streaming on Amazon Prime Video. As per the official plot, it is “an action-packed series that follows the harrowing journey of Delhi Police Officer Kabir Malik".

Coaching Centre New Rules: The Central government has issued new guidelines for coaching centres, aimed at ensuring the safety and well-being of students. According to the guidelines, coaching centres can only enrol students who are at least 16 years old or have passed the Class X Board exams.

Shree Cements Ltd. traded 0.52 per cent up at Rs 26576.35 on Friday at around 12:02PM (IST), while the benchmark BSE Sensex advanced 495.25 points to 71682.11. As many as 383 shares changed hands on the counter with a total value of Rs 1.02 crore.

Trent Ltd. traded at Rs 3170.35 on BSE at 12:07PM (IST) on Friday, up 0.67 per cent from previous close. The stock quoted a 52-week low price of Rs 1155.1 and a high of Rs 3248.35.

Voltas Ltd. traded at Rs 1045.55 on BSE at 11:52AM (IST) on Friday, up 0.87 per cent from previous close. The scrip quoted a 52-week low price of Rs 737.6 and a high of Rs 1067.95.

IndoSpace, India’s leading developer and owner of Grade A industrial real estate, has entered into a pact with the government of Maharashtra at the World Economic Forum in Davos to invest additional over Rs 700 crore in the state. The company plans to expand its footprint by acquiring around 100 acres in the Chakan-Talegaon region. This move is expected to create new job opportunities and boost the region's economic growth, IndoSpace said in a release. “IndoSpace's strategic approach to enhancing Maharashtra’s industrial and logistics infrastructure has strengthened further with the signing of this MoU with the Maharashtra government. This collaboration will propel IndoSpace's expansion in the Chakan-Talegaon region, creating sustainable and efficient industrial spaces that will drive India's economic growth,” said Rajesh Jaggi, Vice Chairman — Real Estate, Everstone Group. IndoSpace currently manages over 500 acres across nine international-standard industrial and logistics parks in the Chakan area.

Marico Ltd. traded 0.65 per cent up at Rs 527.7 at 11:57AM (IST) on Friday, even as BSE benchmark Sensex gained 500.34 points to 71687.2.

India is attracting increased attention of global businesses and they have an important role to play in bringing additional investments over and above domestic resources. India wishes to be an important part of global supply chains and is also seeking investments to shore up domestic capability in sectors like semi-conductors, IT and telecom equipment, defence manufacturing, medical equipment, etc. Well-established global corporations in these areas could help bridge the gap in a short period of time. They bring in knowledge and technology, which otherwise can take a long time to develop. The interim budget would be presented in the midst of positive tailwinds for India like geo-political alignment, stable macro-economy (exchange rates and interest rates under control), 100% FDI allowed in most sectors and the Government’s aspiration of making India a developed country by 2047. Despite the tailwinds, the pace of growth in Gross FDI has moderated after touching a high of USD 85 Billion in FY 22. The sentiment however remains strong given that India’s growth is likely to sustain over the long run. The attractiveness of the Indian market together with an easy and competitive business environment can India an unbeatable proposition for global companies. The interim budget can be leveraged to give this message, especially given that investments decisions are made constantly and there are other countries competing with India to attract FDI.

Sean Strickland unleashed an expletive-laced tirade against a reporter, Justin Trudeau and people in the LGBTQ community during a media event in Toronto.Strickland, the current middleweight champion, is in Toronto in the run-up to Saturday’s UFC match at Scotiabank Arena. He’ll be facing off against South African MMA fighter Dricus du Plessis.Videos of Strickland cussing out a reporter during a UFC press conference spread quickly on Wednesday, and Strickland himself reposted a video of the incident.At one point during the interaction, the reporter notes that Toronto has a large LGBTQ community and asked Strickland to comment on a tweet he made in 2021, when the MMA fighter wrote: “If I had a gay son I would think I failed as a man to create such weakness.”Strickland cut off the question and repeatedly asked if the journalist was gay.“I’m an ally of the community,” the reporter responded.Strickland asked if the reporter would be fine with having a gay son and never having grandchildren, to which the reporter replied, “No problem with it.”“You’re a weak f—ing man, dude.