UPS Financial News

Vinayak Chatterjee, Founder & Managing Trustee, The Infravision Foundation, says along with the slowdown in spending, the relatively lower budget increase in infrastructure has impacted GDP growth. In the next six months, the government has to step on the fiscal expenditure pedal and also the Budget pedal. One rupee spent on infrastructure by the government leads to a three-rupee increase in GDP, whereas a one-rupee spent by the government on items like direct benefit transfer (DBT), results in a 90-paisa increase in GDP. So, if the government wants to pump prime the economy for a robust GDP growth, it has to channel money into infrastructure. As far as Budget expectations are concerned, the government should get back the trajectory of 30% increase in infra Budget of the last many years, excluding FY25. On last year's capex base of Rs 11.1 lakh crore, there should be a 30% increase in the upcoming Budget.

ICICI Lombard General Insurance Company Ltd. traded 0.09 per cent up at Rs 1950.50 at around 11:56AM (IST) on Thursday. The stock had closed at Rs 1948.65 in the previous session. Equity benchmark Sensex traded 106.74 points at 81419.4 around the same time.

Rent can be an additional source of income for salaried individuals who have invested in property. While real estate as an investment may have its challenges in terms of liquidity and high capital requirement, rental income can complement one's salary.

Finance Ministry announced on Thursday a significant improvement in the issuance of tax refunds for the financial year 2024-25. Between April 1 and November 27 this year refunds amounting to Rs 3.08 lakh crore were issued, marking a 46.31 per cent increase compared to the same period in 2023. It also stated that at its peak this year the Income Tax Return portal handled more than 900 filings in a second and nearly 70 lakh ITRs (Income Tax Returns) in a day. This year more than 1.62 crore ITRs were processed in a single day for A.Y. 2024-25.

Bitcoin surged past the $100,000 mark on Thursday after an as-expected reading of U.S. consumer inflation cemented bets for a Federal Reserve interest-rate cut next week. The U.S. consumer price index (CPI) rose 0.3% month-on-month and 2.7% year-on-year in November, aligning with expectations. This boosted the probability of a 25-basis-point rate cut to 99%, up from 89% a day earlier, as per CME FedWatch.

«I would say that the broader trend for the market still looks up because one would believe that the slowdown what we are seeing is temporary cyclical slowdown, to some extent impacted because of the government spending in the first half has been weaker because of elections and it took time for the ministries to be formed so that is now gaining momentum,» says Mahesh Patil, CIO, Aditya Birla Sun Life AMC. It has been pretty much more of the same, this phase of consolidation that is kicking in. Do you believe that the undertone of the market is still looking bullish and that, yes, there may be speed bumps along the way, but by and large, we are okay? Mahesh Patil: We have seen the momentum clearly has kind of broken down what we saw earlier. And not only the market it is more to do with the earnings momentum. So, the strong earnings growth what we saw in the last three years until FY24, so that in the last two quarters has kind of slowed down and for the first time we have seen downgrades to earnings after the second quarter and the first quarter numbers. So, clearly there is some bit of a slowdown and that is leading to a sluggishness or even for the matter we have seen that the market breadth also has weakened quite a bit. Now that is kind of coming back.

Subscribe to enjoy similar stories. During Donald Trump ’s first administration, China learned that it couldn’t match the much larger U.S. economy’s tit-for-tat when it came to tariffs, and quickly found other ways to try to inflict pain—often by borrowing from his playbook.

Subscribe to enjoy similar stories. Hamas has yielded to two of Israel’s key demands for a cease-fire deal in Gaza, Arab mediators said, raising hopes of an agreement that could release some hostages within days despite the repeated collapse of previous negotiations. The militant group told mediators for the first time that it would agree to a deal that would allow Israeli forces to remain in Gaza temporarily when the fighting stops.

Gopal Snacks shares skidded as much as 10% on Thursday to Rs 406.75 on BSE after a major fire incident at the company’s snacks manufacturing facility on the outskirts of Rajkot city in Gujarat. The company disclosed this development in an exchange filing. The snacks manufacturer said there had been no casualties or injuries onsite at the Rajkot factory and there has been no loss of data or disruption to the company’s IT systems due to the fire.

DCM Ltd(up 19.99%), Apoorva Leasing Finance(up 19.98%), Shubham Polyspin(up 19.96%) and SAB Industries(up 17.53%) were among the stocks that surged over 15%.

Marico Ltd. 1.27 per cent to Rs 640.80 at 10:14AM hours (IST) on Thursday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 21,198 shares with a turnover of Rs 1.36 crore till 10:14AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 52.29, while the price-to-book value ratio stood at 16.73.

Stocks that rallied over 10% included, Abans Enterprises (12.99%), Wagend Infra(12.73%), DIC India Ltd(12.08%), Star Cement(11.89%), MTNL(11.40%), Deepak Builders & En(11.15%), SoftTech Engineers(11.03%), Zinka Logistics Solu(10.98%), Umang Dairies(10.89%) and Pyramid Technoplast(10.74%).

Shares of Bajaj Housing Finance slipped 6% to their day’s low of Rs 132.85 on the BSE in today’s session as today marks the end of the stock’s 3-month lock-in period wherein 12 million shares became available to trade in the market. This represents 2% of the total equity of the company, which was held by the anchor investors since the IPO.

buy call on Computer Age Management Services with a target price of Rs 6,000. The current market price of CAMS is Rs 5283.4. CAMS, incorporated in 1988, is a Small Cap company with a market cap of Rs 26070.68 crore) operating in Financial Services sector.

Energy Development Company Ltd.(up 5.00%), Reliance Power Ltd.(up 4.34%), Transformers & Rectifiers(India)Ltd.(up 2.74%), Ravindra Energy Ltd.(up 2.34%), KEC International Ltd.(up 1.30%), ACME Solar Holdings Ltd.(up 1.25%), Indowind Energy Ltd.(up 1.07%), Hitachi Energy India Ltd.(up 0.94%), Voltamp Transformers Ltd.(up 0.85%) and NLC India Ltd.(up 0.78%) were among the top gainers.

Growing demand for the lithium used in batteries for electric vehicles and energy storage has created a new frontier for mining in Nigeria

Growing demand for the lithium used in batteries for electric vehicles and energy storage has created a new frontier for mining in Nigeria

Grasim Industries shares will remain in focus on Thursday after the company approved the issuance of non-convertible debentures worth up to Rs 2,000 crore in one or more tranches, according to an exchange filing. The flagship company of the Aditya Birla Group will issue the NCDs on a private placement basis. The decision was made by the firm's finance committee of the board of directors in a meeting on Wednesday, it said.

buy call on UTI Asset Management Company with a target price of Rs 1,600. The current market price of UTI Asset Management Company is Rs 1366. UTI AMC., incorporated in 2002, is a Small Cap company with a market cap of Rs 17470.73 crore, operating in Financial Services sector. UTI Asset Management Company Ltd. key products/revenue segments include Sale of services, Income From Sale Of Share & Securities, Interest and Rental Income for the year ending 31-Mar-2024.

Delhi Jal Board (DJB) announced that parts of South Delhi will face water supply disruptions on the morning of December 12 due to maintenance work, as reported by PTI.

Amnish Aggarwal, Head of Research, Prabhudas Lilladher, says in the IT sector, a lot depends on how the growth momentum pans out. But there are a lot of expectations built into what happens in the developed markets once Trump assumes the chair next month and that is getting reflected. Also the domestic growth scenario looks quite mixed in many sectors. So, IT looks to be safer and more defensive in comparison to some of the segments. If you are looking at the sector-wise breakup today, PSU banks are on the back foot. But having said that, railway stocks are doing quite well, while defence has managed to come back. In fact, other industrials and public sector entities have been doing well. Does that make you believe that perhaps the dip that we saw in the public sector entities, whether defence, whether railways and all of that, is behind us and now the buying would resume? Amnish Aggarwal: One cannot put all the PSUs in one basket per se because when it comes to railways, defence and some of the other industries related to capital goods, engineering, EPC, construction, etc., there were no order flows which came in Q1. In the second quarter it picked up, but now we are in the last four months of the year, and we will see more and more order announcements happening across these segments.