UPS Financial News

Subscribe to enjoy similar stories. Argentine President Javier Milei has been on the defensive after a cryptocurrency he endorsed on X saw its value crash, triggering fraud allegations and calls for impeachment by his political foes. The scandal is hitting the libertarian leader ahead of his trip Thursday to Washington to meet with Trump administration officials to win support for his economic reforms, including approval for an International Monetary Fund loan.

Khaitan Chemicals & Fertilizers Ltd.(up 8.26%), Rama Phosphates Ltd.(up 6.98%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 5.32%), National Fertilizers Ltd.(up 4.10%), Southern Petrochemicals Industries Corporation Ltd.(up 3.98%), The Fertilisers and Chemicals Travancore Ltd.(up 3.77%), Rashtriya Chemicals & Fertilizers Ltd.(up 3.69%), Madras Fertilizers Ltd.(up 3.06%), Gujarat State Fertilizer & Chemicals Ltd.(up 2.37%) and Nagarjuna Fertilizers and Chemicals Ltd.(up 2.33%) were among the top gainers.

Persistent Systems Ltd.(up 1.73 per cent), Wipro Ltd.(up 1.11 per cent), Coforge Ltd.(up 1.09 per cent) and MphasiS Ltd.(up 0.55 per cent) were among the top gainers.

Granules India Ltd.(up 1.69 per cent), Divi's Laboratories Ltd.(up 1.64 per cent), Laurus Labs Ltd.(up 1.59 per cent), Torrent Pharmaceuticals Ltd.(up 0.89 per cent) and Alkem Laboratories Ltd.(up 0.41 per cent) were among the top gainers.

KIOCL Ltd.(up 6.22%), Pokarna Ltd.(up 5.13%), Gujarat Mineral Development Corporation Ltd.(up 4.86%), Aro Granite Industries Ltd.(up 3.45%), Ashapura Minechem Ltd.(up 3.45%), 20 Microns Ltd.(up 3.35%), The Orissa Minerals Development Company Ltd.(up 2.31%), NMDC Ltd.(up 2.29%), Oriental Trimex Ltd.(up 2.03%) and MOIL Ltd.(up 1.71%) were among the top gainers.

Duroply lndustries(up 20.00%), Gujarat Themis (up 19.81%), Somany Home(up 18.66%), HB Leasing Fin(up 16.69%), Aplab(up 16.46%) and Tata Investment(up 15.62%) were among the stocks that surged over 15%.

State Bank of India (SBI). The bank has projected the country’s GDP growth at 6.2%-6.3% for the October-December quarter (Q3 FY25) based on its in-house ‘Nowcasting Model’, which tracks 36 high-frequency indicators.

iPhone components maker Murata Manufacturing Co. is weighing whether to move some of its production capacity to India, reflecting a global realignment of the supply chain toward the world’s most populous country.

The NSE Nifty index was trading 31.05 points up at 22976.35, while BSE Sensex was up 116.25 points at 76083.64 at the time of writing this report.

Indowind Energy Ltd.(up 8.69%), GMR Power and Urban Infra Ltd.(up 8.28%), Ravindra Energy Ltd.(up 7.93%), Suzlon Energy Ltd.(up 6.52%), Orient Green Power Company Ltd.(up 5.47%), Jaiprakash Power Ventures Ltd.(up 5.06%), KPI Green Energy Ltd.(up 5.00%), ACME Solar Holdings Ltd.(up 5.00%), Transformers & Rectifiers(India)Ltd.(up 5.00%) and Inox Wind Ltd.(up 4.65%) were among the top gainers.

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd, says Foreign Portfolio Investors (FPIs) previously short sold their holdings in the F&O market and are now making cash market deliveries while withdrawing funds. This situation is expected to resolve soon. There may be some capitulation, especially in the high valuations of small and mid-cap stocks, but large-cap stocks, particularly in the Nifty 50, are showing more stable valuations. The question on everyone's mind is how much more pain to go before we actually see at least a sustained recovery, if not that, at least the selling should abate. Deven Choksey: I believe that we are at the tail end of selling in the markets. Maybe the larger part of the pain is over. The data of FPI selling from October onwards till date, shows that except for a couple of months in between, in this month we are likely to see a little lower selling compared to what in previous months we had.

Ashi Anand, Founder & CEO, IME Capital, says he would understand if there is further downside to the market. However, due to the strong long-term outlook for India, major declines are not expected. The main worry is with smallcap stocks. In larger-cap indices, a drop of 5-10% seems manageable. But with smallcaps, if retail investors start to panic, liquidity can vanish quickly, leading to significant losses. Therefore, he recommends that investors should stay cautious. Anand also says that for people with a slightly longer-term horizon, some attractive buying opportunities exist in Digital and some could emerge in capital markets and real estate and capital goods spaces. All these companies have run up very considerably. These are also stocks that have led the fall, and have all fallen more than the overall markets. How much more of a selling are we likely to see or do you think that the end is near now? Ashi Anand: That is really the question on everyone's mind. We do not necessarily think we are at the absolute bottom. There could potentially be further downsides. Just to understand that in the overall context, markets have doubled from before pre-COVID levels taking the COVID fall. But if you look at the largecap indices, they have doubled from pre-COVID. You are down only 10%. Smallcaps were up 300%, and are down only about 20%.

Subscribe to enjoy similar stories. Zachary Weiss, a brand consultant in New York, owns four vintage fur coats. PETA announced in 2020 that it was ending its long-running “I’d Rather Go Naked Than Wear Fur" campaign.

Subscribe to enjoy similar stories. Judged by the din of Russian propaganda and the despair among some Europeans, Vladimir Putin has never been closer to winning his war on Ukraine. Yet three years after his invasion, it is not clear what “win" means.

U.S. dollar held firm on Wednesday on the back of tariff concerns and tense Russia-Ukraine negotiations, while the New Zealand dollar slid after the central bank delivered a super-sized interest rate cut. The Reserve Bank of New Zealand reduced its benchmark rate by 50 basis points to 3.75% on Wednesday as widely expected. The central bank has now cut rates by 175 basis points since August as the central bank races to boost a sluggish economy and curb rising unemployment.

Oil prices edged higher on Wednesday amid oil supply disruptions in the U.S. and Russia and as markets awaited clarity on the Ukraine peace talks. Brent crude futures gained 20 cents, or 0.3% at $76.04 a barrel at 0146 GMT, climbing for a third day.

Department of Space (DoS).

Indian Continent Investment (ICIL), a Sunil Mittal-led promoter group entity of Bharti Airtel, on Tuesday sold a 0.84% stake, or 51.1 million shares, in India's second-largest telecom carrier through block deals for ₹8,485.11 crore. Of the shares sold, 12 million were acquired by Bharti Telecom (BTL)-the main promoter-level controlling company of Bharti Airtel-while the balance shares were lapped up by a host of global and local marquee investors including GQG Partners, Fidelity, Lazard, ICICI Prudential MF and SBI Life, according to people familiar with the matter. Mittal family-backed ICIL sold shares at ₹1,660 apiece, as per the block deal data.

NSE Clearing, the clearing house of the National Stock Exchange, has issued a fresh demand of ₹104 crore on the BSE as a contribution to the Settlement Guarantee Fund (SGF), according to sources. The demand is based on a recent stress test held on January 25, and BSE has been asked to provide the required contribution by February 28, one of the sources cited said.