UPS Financial News

Energy Development Company Ltd.(up 5.00%), Karma Energy Ltd.(up 3.02%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Kalpataru Projects International Ltd.(up 0.65%), GE Vernova T&D India Ltd.(up 0.35%), Power Grid Corporation of India Ltd.(up 0.26%), Gujarat Industries Power Company Ltd.(up 0.19%), Transformers & Rectifiers(India)Ltd.(up 0.15%), KEC International Ltd.(up 0.13%) and Inox Wind Ltd.(up 0.07%) were among the top gainers.

The NSE Nifty index was trading 31.35 points up at 24650.35, while BSE Sensex was 115.19 points at 81623.65 at the time of writing this report.

Reliance Green Hydrogen, ReNew E-Fuels, L&T Energy, Waaree Energies, AM Green, GH2 Solar and Avaada GreenH2 are among the 13 companies that have bid for incentives to produce green hydrogen under the second tranche of the Strategic Interventions for Green Hydrogen Transition (SIGHT) scheme. The technical bids for incentives under the second tranche for green hydrogen under SIGHT scheme were opened on Monday. The last day for submission was December 6. Maximum incentive under the tranche in the scheme is Rs 5,400 crore.

As of 10:05 am, February gold futures were trading at Rs 77,726 per 10 grams on the MCX, up by Rs 240 or 0.31% from the previous session's closing price. Meanwhile, March silver futures were at Rs 95,330 per kg, rising by 133 or 0.14%.

REC Ltd. 1.01 per cent to Rs 569.25 at 10:35AM hours (IST) on Tuesday. 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 61,516 shares with a turnover of Rs 3.49 crore till 10:35AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 10.07, while the price-to-book value ratio stood at 1.73.

Boeing has laid off hundreds of additional employees in Washington state and California as part of planned cuts that will eventually reduce the company’s workforce by about 17,000

Missouri business groups have filed a lawsuit to try to stop a voter-approved law that will raise the state’s minimum wage and require employers to give workers paid sick leave

For the first time, New Mexico’s investment income is expected to surpass its revenue from personal income taxes

Subscribe to enjoy similar stories. Donald Trump, a man not renowned for the length of his attention span, likes simple formulas. Scott Bessent, his nominee to be treasury secretary, has one: “3-3-3".

Subscribe to enjoy similar stories. Every morning, the man who built one of the world’s most valuable companies scrolls through his inbox and looks at 100 of the most important emails that he’ll see all day. And on Sunday nights, he pours himself a glass of his favorite Scotch and reads even more of them.

City council is set to debate a proposal by Mayor Ken Sim to make Vancouver a “Bitcoin-friendly city” on Wednesday.

Gold prices remained mostly unchanged on Tuesday, staying near a two-week high hit in the previous session, as investors awaited key U.S. inflation data, due later this week, for further insights into the Federal Reserve's interest rate outlook. FUNDAMENTALS

Reliance Industries is in talks with banks for a loan of as much as $3 billion to refinance debt due next year, according to people familiar with the matter. About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in the first quarter of 2025, the people said, who asked not to be named as discussions are private. Terms have not been finalized yet and could be subject to changes, the people added. Reliance Industries has approximately $2.9 billion worth of debt due in 2025, including interest payments, according to data compiled by Bloomberg News. A spokesperson for the group didn’t immediately respond to a request seeking comment.

Oil prices eased only slightly on Tuesday, holding on to most of their gains from the prior session as mounting geopolitical risk after the fall of Syrian President Bashar al-Assad and China's vow to ramp up policy stimulus kept a floor under prices. Brent crude futures were down 13 cents, or about 0.2%, at $72.01 per barrel. U.S. West Texas Intermediate crude futures were down 14 cents, also 0.2% lower, at $68.23 at 0151 GMT. Both climbed more than 1% on Monday.

China's top leaders have pledged to loosen monetary policy and provide more support for the slowing economy

When markets resume trading today, Vodafone Idea, Tata Motors, NHPC, Brookfield India REIT, Premier Polyfilm, Torrent Power and Datamatics Global Services among others, will be in focus due to various related developments or quarterly earnings.

Lenovo in the next two quarters, will have its PC plant in Puducherry manufacture GPU-based servers that will also serve as an export base for the company, said Shailendra Katyal, MD, Lenovo in an interview with ET. 100% of Motorola phones, a Lenovo subsidiary, is already made in India through Dixon, its EMS partner. It exports 1.5 million phones to markets like North America. «The forecast for manufacturing in India next year is pushing $3.5 billion,» Katyal said, adding that around $1.5 billion worth of hardware will be exported. Lenovo's Bengaluru lab is also one of the four facilities of the company in the world for server innovation. The lab also works on hardware, software and firmware. After HP, Lenovo is number two in the PC/tablets market in India, and is also in the third position in the servers/storage market.

Prosus, the Dutch-listed investment arm of Naspers, is in an advanced stage of talks to lead a new round of funding in fintech Jar, people in the know said. The Swiggy investor has upped its new deal pipeline in India, and this would be the third major deal in the fintech and financing sector after itsinvestments in Mintifi and Vastu Housing Finance. It has also backed IPO-bound jewellery maker Bluestone this year. Jar, which helps consumers save small amounts to invest in digital gold, has held talks with investors to raise around $50 million in this round. The startup was last valued at $300 million when it raised $22.6 million from Tiger Global in 2022.

Bengaluru-based Kreditbee reported a 20% fall in net profit to Rs 20.7 crore for the quarter ended September 30 from Rs 25 crore a year back. Its operational revenue jumped 73% to Rs 518 crore, but its expenses shot up 84% as well, driven by increasing cost of borrowing and impairment on financial instruments. Fintechs that typically cater to the riskiest segment of the country’s consumer base have seen their cost of borrowing go up. Industry insiders peg the increase to be anywhere between 125 basis points and 300 basis points, depending on the spectrum of operations.

The IT budgets of companies are most likely to be decided starting January or February when Donald Trump takes office. But most clients are cautiously optimistic. The banking and financial vertical, the biggest industry grouping for Indian IT, has seen a revival and will continue to see an uptick, said a top executive at a large IT firm. While the Republicans have generally been pro-business, the executive said the industry would look for cues on how things shape up.

Namma Yatri, mobility industry executives and investors said. OnNovember 27, the company launched its loyalty programme, Uber One, in India, offering monthly and annual plans to users. As part of the programme, Uber is offering up to 10% of the fare as credits to users hailing four-wheelers, three-wheelers and two-wheelers and booking parcel services on its platform. These credits are akin to cashbacks and can be redeemed on future rides. Globally, as of September 30, Uber One had 25 million subscribers, and according to the company, they spend more than three times compared with non-members.