UPS Financial News

Inflation in India has seen many twists and turns in the past four years, but the signs of relief are getting stronger. Both retail and wholesale inflation inched up in December 2023—to 5.69% and 0.73%, respectively—but the uptick was mainly on account of base effect. Strip that off, and retail inflation would have slid to 5.2% and wholesale prices would have recorded a 0.6% deflation, back-of-the-envelope calculations show.

YES Bank share price jumped over 6 per cent to hit its fresh 52-week high of ₹26.25 in intraday trade on NSE on Tuesday, January 16. YES Bank share price opened at ₹24.95 against the previous close of ₹24.75 and jumped 6.1 per cent to the level of ₹26.25. Around 12:35 pm, YES Bank shares were 4.44 per cent up at ₹25.85 on the NSE.

Mumbai-Ahmedabad bullet train project. The company added that the order has been bagged from an authorised Japanese agency. "The railways strategic business group of L&T Construction has secured a mega contract to ....construct 508 route km of high-speed electrification system works for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Project, popularly referred to as the bullet train project," the company said in a filing to BSE.

Tata Motors, Honda Cars, Toyota Kirloskar Motor, MG Motor India and Kia India, as well as German luxury and premium carmakers Mercedes-Benz, BMW and Skoda Auto Volkswagen India. The show will also draw prominent two-wheeler makers Bajaj Auto, TVS Motor and Honda Motorcycle and Scooter India, and pure EV makers Ather Energy, Ola Electric, Tork Motors, ⁠Eka Mobility and VinFast.

₹1,006.74 crore for the third quarter of FY24, registering a growth of 25.3% from ₹803.61 crore in the corresponding quarter of last year. Federal Bank’s net interest income (NII) in Q3FY24 increased 8.5% to ₹2,123.4 crore from ₹1,956.5 crore, YoY.

Polycab India, a leading electrical wires and cables manufacturer, jumped 3.60% to ₹4,351.75 apiece. This comes on the heels of an 8.2% surge over the last two trading sessions. Between January 04 and January 11, the company's shares faced downward pressure amid reports of tax evasion allegations.

Maruti Suzuki India said in a regulatory filing. This indicative figure is calculated using ex-showroom prices of models in Delhi and will come into effect from 16th January, 2024, it added. Also Read: Paytm share price rallies over 3% as UBS initiates coverage with a ‘Buy’ call; sees EBITDA breakeven in FY25 The company had on April 1 last year raised prices across all its vehicle models.

Rapid economic growth, stable monetary policies, and a boom in credit have raised the purchasing power of India's wealthiest over the past decade. The number of Indians with annual earnings exceeding $10,000 has soared from 24 million in 2015 to 60 million, now constituting 4.1% of the nation's population, a Goldman Sachs report on Friday said. The significant increase in the value of financial and physical assets in the past three years is what has powered this new affluence.

the growth of Indian railways is imminent. India needs to up its game and increase the daily train numbers substantially to meet the surging demand in the travel sector. The Indian Railways is gearing up for a massive investment of ₹1 trillion (tn) in acquiring new trains in response to this rise in demand.

IndiGo flight was seen physically assaulting the pilot who was announcing the flight delay. Recently, numerous passengers have gone online complaining about delays, poor service and harassment. Delhi's Indira Gandhi International (IGI) airport on Sunday witnessed chaotic scenes as dozens of flights were delayed due to dense fog that left passengers stranded for several hours. The Directorate General of Civil Aviation (DGCA), the aviation regulator, on Monday issued SOPs to airlines regarding flight cancellations due to excessive delays during adverse weather conditions. However, fog may have only worsened the conditions in India's aviation industry which has been struggling with various problems just as it has become a near-duopoly leaving little choice for passengers. Airline consumer is not the king

ICICI Lombard General Insurance Company Ltd. traded 0.39 per cent up in Tuesday's trade at 01:15PM (IST). Around 11,103 shares changed hands on the counter.

Tata Elxsi Ltd. slipped 1.16 per cent to Rs 8618.2 in Tuesday's trade as of 01:10PM (IST). It hit a high of Rs 8729.95 and low of Rs 8616.0 during the session.

(Reuters) -Swiss chocolate maker Lindt & Spruengli on Tuesday said its 2023 sales grew by 10.3% organically and came in ahead of market expectations, boosted by higher product prices and strong sales of its pralines across markets.

By Davide Barbuscia

Extreme cold has swept across Canada, bringing heavy snowfall and strong winds and breaking temperature records in Alberta, British Columbia, Saskatchewan and the Northwest Territories.Those temperatures, the Red Cross warns, can bring frostbite and hypothermia — even death.“As Canadians, no matter where we are, whether it’s Winnipeg or up north or Victoria, we all experience some level of winter,” said Jason Small, Canadian Red Cross spokesperson.“And we need to be prepared for that.”The advice comes as Alberta has issued multiple alerts to the public over the last three days to immediately conserve electricity as its provincial power grid strains to keep up with demands amid the frigid temperatures.Parts of B.C. and southern Ontario are also facing deep freezes.Searches for terms like “extreme cold” have spiked on Google among Canadian users and are projected to keep climbing.

By Ankur Banerjee

By Tom Westbrook

Welspun Living as its 'top pick of the week'. This is on the back of the promising long-term potential in the textile sector, raw material price correction, improvement in margins, developing branded presence and macroeconomic tailwinds. The brokerage has a ‘buy’ call on the stock with a target price of ₹175, implying a potential upside of over 14 percent.

Jyoti CNC Automation share price made a strong debut on Tuesday, listing with gains of 11.78% higher than the issue price of ₹331 on the NSE. It further rose to ₹426.40 levels during the morning trades. On BSE, Jyoti CNC Automation share price was listed at ₹372 apiece, up 12.39% than the issue price.

Delhi weather: 30 flights delayed, 17 cancelled due to bad weather conditions In a statement, IndiGo declared the passenger as 'unruly' and is contemplating placing him on the no-fly list for up to 30 days. The airline emphasised its commitment to passenger and crew safety, maintaining a zero-tolerance policy for such behaviour. "The incident is being referred to the independent internal committee for appropriate action and inclusion of the passenger on the 'no-fly list' as laid down in regulatory guidelines," stated IndiGo.

Mazagon Dock Shipbuilders surged up to 13 percent in intra-day deals on Tuesday to hit their respective new highs ahead of the 2024 Interim Union Budget. Indian Railway Finance Corporation surged 12.7 percent to its new high of ₹146.69. It has now soared over 476 percent from its 52-week low of ₹25.45, hit on March 28, 2023.