UPS Financial News

Piyush Goyal on Thursday said the Indian rupee has performed well compared to other global currencies due to the country's strong foreign currency reserves. He also said that a skill development centre and a startup incubation centre will come up at AURIC (the industrial node of Shendra and Bidkin) in the near term.

United Breweries, AB InBev and Carlsberg — will invest over Rs 3,500 crore to set up breweries in India in 2025, the highest capex announcement by them for a year in over a decade, ET has reported.

Pakistan cricket team left for Dubai for the marquee Champions Trophy clash against arch-rivals India without opener Fakhar Zaman, who suffered an injury during the opening match against New Zealand here on February 19. The stalwart suffered a muscle strain while fielding in the New Zealand innings and remained away from the field for most part of the innings.

capacity expansion and localisation, including electric vehicle (EV) parts, ratings firm ICRA said on Thursday. The sector is also expected to invest in capacity enhancements and upcoming regulatory changes.

Microsoft has announced the launch of Majorana 1, a quantum chip that could significantly accelerate the development of practical quantum computing. The company claims it is the world’s first quantum processing unit built on a topological core, powered by a newly discovered state of matter.

«The capital market leaders will continue to do well, but this 25-30% type compounding in AUMs it is a cycle, so when the markets will correct people will go back to banks and maybe two-three years later they will come back to capital market stocks and so on,» says Manish Chokhani, Director, Enam Holdings. So, one is banks and financials, but the bigger question that everyone is now also pondering about is what to avoid, when the market does come out of this abyss are you going to see newer sectors emerge as leaders and what will continue to remain under performers? Manish Chokhani: Actually if you look out two years from now, I do not think people have realised, for example ICICI Bank will cross the earnings number of Infosys.

Subscribe to enjoy similar stories. India and the United States agreed to negotiate the first tranche of a mutually beneficial multi-sector bilateral trade agreement (BTA) by late September after president Donald Trump threatened to impose reciprocal tariffs on goods from India and several other countries. As he did in his first term, Trump continues to pressure India to lower its high and protectionist import duties on several goods, including luxury goods.

United States is set to cut the size of its diplomatic mission in China by up to 10%, the South China Morning Post reported on Wednesday, citing people familiar with the situation.

Congress party has underlined the urgent need for professional regulation of Indian financial markets and pushed for a comprehensive overhaul of the Securities and Exchange Board of India (SEBI). The party also called for an unwavering commitment to developing global manufacturing ecosystems across various technology sectors to establish distinct niches for India.

«I remember all of us from the markets were in this very famous now, Jaipur Jamboree in December and the mood was also quite unanimous over there that the markets have run far ahead of themselves,» says Manish Chokhani, Director, Enam Holdings. The markets have taken a nasty knock. Everybody knew that this was coming. It is just that when it hit us, nobody was prepared for it. Manish Chokhani: Yes, it is true. Even I never thought that we have a bubble in the market, because the largecaps actually had not really participated. And the bubble we used to always talk of was occurring in the smallcaps and the SME type IPOs and that is where the pain has obviously been the maximum and earnings have dramatically slowed down.

Baazar Style Retail(up 18.20%), Prajay Engg(up 16.69%) and Windlas Biotech(up 15.29%) were among the stocks that surged over 15%.

Citigroup Inc.’s India unit is set to buy record asset-backed securities as domestic lenders seek liquidity amid sluggish deposit growth.

Open Mainnet launch is set to go live on Thursday, marking a major shift toward decentralization in the cryptocurrency ecosystem. The launch enables external blockchain connectivity, allowing transactions beyond the closed Pi Network ecosystem for the first time. The launch has also fueled speculation over a potential Pi Coin listing on major exchanges like Binance and OKX. The excitement has already driven Pi Coin’s price up 106%, briefly pushing it past the $100 mark.

foreign fund outflow is weighing on investor sentiments. At the interbank foreign exchange, the rupee opened at 86.88 and gained further ground to trade at 86.79 against the greenback during early deals, up 19 paise from its previous close.