UPS Financial News

We believe that Bata India can extend its game and 1480 is the target where we are focusing for the stock, says Rajesh Palviya of Axis Securities. Edited excerpts.

Gold Loans: Bank loans secured by gold jewelry have seen a dramatic 50.4% increase in the first seven months of this fiscal year, ending October 18, 2024. This surge contrasts sharply with other personal loan categories, which experienced single-digit growth, according to Reserve Bank of India (RBI) data. Total outstanding gold loans reached Rs 1,54,282 crore by October 18, up from Rs 1,02,562 crore in March 2024. This represents a 56% year-on-year increase, compared to 13% in October 2023. Bankers attribute this rise to multiple factors, including borrowers moving from non-banking financial companies (NBFCs) to banks and a preference for secured loans over unsecured options. Bank loans to NBFCs have decreased by 0.7% to Rs 1.5 lakh crore during the same period.

Vietnam has approved the construction of a high-speed railway connecting the capital Hanoi in the north with the financial capital of Ho Chi Minh in the south

Gaming and esports company Nodwin Gaming on Friday said it has acquired Trinity Gaming at a valuation of Rs 24 crore. Trinity Gaming serves as a Creator Service Provider (CSP) for Meta and gaming Multi-channel Network (MCN) for YouTube in India. It manages over 1,000 creators nationwide and has established partnerships with the likes of Samsung, Realme, iQOO, and Krafton. «The acquisition of 100 per cent of the share capital of Trinity will be a combination of secondary sale and stock swap of Nodwin Gaming shares for a total consideration of up to Rs 24 crore,» a company statement said. The consideration would be payable partly by way of cash consideration of up to Rs 4.8 crore and balance Rs 19.2 crore by way of swap of equity shares of Nodwin Gaming, it added.

Subscribe to enjoy similar stories. When an Israeli bomb killed Hassan Nasrallah, the leader of Hizbullah, last week, it did not just decapitate a fearsome militia that has driven some 60,000 Israelis from their homes with frequent rocket attacks. It also dealt a hammer blow to Iran’s “axis of resistance", a constellation of proxy forces that Iran has for decades used to attack both Israel and Western interests in the Middle East.

Black Friday sales experiencing significant growth. According to Salesforce, a software-as-a-service major tracking e-commerce activity in real-time, online shopping has seen a strong uptick in demand. As per Salesforce, the US holiday season which kicks off with Thanksgiving day generated $33.6 billion in sales online globally, increasing 6% on year. The US market alone was up 8% to $8.1 billion while Europe grew 10%. Adobe Analytics said US consumers had spent $7.9 billion online as of Friday afternoon, an increase of 8.2% over last year, with a projected final tally between $10.7 and $11 billion — an ecommerce record for Black Friday.

input tax credit (ITC) or amend any errors or omissions in compliance with the Goods and Services Tax (GST) rules and regulations for FY 2023-24 by GST-registered taxpayers. If the taxpayer misses today’s date, he/she may lose out on claiming ITC benefit for FY 2023-24 under GST if any ITC claims are pending. It will result in a loss for the taxpayer as he/she will not be able to offset output GST liability with input tax credit. Dinesh Jotwani, Co- Managing partner at Jotwani Associates says, «Section 16(4) of the Central Goods and Services Tax Act, 2017 reads as follows: A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier. Therefore, all GST-registered taxpayers must claim any pending input tax credit (ITC) for FY 2023-24 by November 30th. This is also the deadline for filing a GST form to amend any errors or omissions. Please do so to avoid the loss of Input Tax Credit Benefits.” Also Read: GSTN approves 5 apps for faster GST invoices verification

Subscribe to enjoy similar stories. Warren Buffett has said he looks for businesses that are like castles, protected by moats. Some of today’s best moats aren’t filled with sharks, though—they are packed with data and analysis.

tax holiday” bill moves closer to becoming law, the deputy prime minister on Friday lamented what appears to be a lack of support for the proposed $250 rebate cheques that were originally part of the federal government’s plan.The $250 cheques for Canadians who worked and earned up to $150,000 in the past year were proposed last week alongside the two-month holiday on GST and HST on certain items as a way to ease affordability concerns. The Liberals’ plan is for the tax break to take place from Dec.

Zomato has closed its qualified institutional placement (QIP) to raise ₹8,500 crore, the company said in a filing to the stock exchanges on Friday. The shares were priced at ₹252.62 which is at a nearly 12% discount to Zomato's Thursday closing price of ₹286.10 on the BSE.

European House Ambrosetti group's senior partner Lorenzo Tavazzi has said Italian companies have invested USD 6.5 billion in India, which speaks of the importance accorded to the world's fastest growing major economy, and stressed that there are a lot of opportunities for growth. Tavazzi, who heads TEHA's Scenarios and Intelligence Areas, was speaking in Mumbai on Friday after the inauguration of the Villaggio Italia exposition, being held to coincide with the port of call of Amerigo Vespucci, an Italian Navy ship used for training and supporting national diplomacy. Speaking at a panel discussion curated by top Italian news agency ANSA in connection with the ship's arrival in Mumbai, Tavazzi said Italy can help India's aspirations on the energy transition and transport fronts with its expertise in sustainable technologies and also high-speed rail. Alessandro Giuliani of SDA Bocconi Asia Center, a Mumbai-based management education institute, said that given the commonality on the food front, wherein the culinary habits of both the countries focus on usage of spices, Indian students should feel at home if they go to study in Italy.

iQOO 13 is set to make its India debut on December 3 with the Snapdragon 8 Elite processor and claimed AnTuTu scores of over 3 million. iQOO has confirmed that the phone will come with a 6,000mAh battery and support for 120W fast charging.

Subscribe to enjoy similar stories. India's push for local manufacturing is prising open a new business frontier for domestic telecom equipment manufacturers.

Subscribe to enjoy similar stories. One of the things that has surprised Viswanathan Anand about young chess players now is they order everything, including food, online. As a touring chess pro for about four decades, he looked forward to going out at meal times during competitions, which provided a relief from the intensity of being bent over a chess board for hours.

Subscribe to enjoy similar stories. I blame school. Or someone.

Trump campaigned in North Carolina, both candidates courted a state-recognized tribe there whose 55,000 members could have helped tip the swing state. Trump in September promised that he would sign legislation to grant federal recognition to the Lumbee Tribe, a distinction that would unlock access to federal funds. He ultimately won North Carolina by more than 3 percentage points, in part due to continued support from Lumbee voters. Now, as Trump prepares to return to the White House in January, the promise will be put to the test. He has Republican allies in Congress on the issue, and now the Lumbee, as well as tribal nations across the country, are watching closely to see what comes next.

As markets and consumers eye possible turbulence during the transition from President Joe Biden to Donald Trump, there are hopes that the year's biggest shopping season — stretching from Thanksgiving to Christmas — will be a bonanza. The National Retail Federation (NRF) said a record 183.4 million people are planning to shop over the weekend, ticking up from 182 million last year and 18.1 million higher than 2019, before the Covid pandemic derailed the global economy.

The sharply lower print will dent the full-year growth number while intensifying pressure on the Reserve Bank of India (RBI) to advance interest rate cuts. Gross domestic product (GDP) growth was 6.7% in the April-June period and 8.1% in the second quarter of FY24. Chief economic advisor V Anantha Nageswaran said the unexpected deceleration was an isolated development.

Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as the prospect of new U.S. tariffs from the incoming Trump administration adds to the gloom ov...

Merchandise is nothing new