UPS Financial News

The intraday price of gold hit an all-time high of $5,595 per troy ounce in late January, having nearly doubled within the span of a little over a year. On the same day, in rupee terms, gold of 24 Karat purity recorded a price of ₹183,000 per 10 grams, having risen 134% over the same period thanks to the combined effect of its price gain and the rupee’s depreciation. Silver, the metal’s younger sibling, sparkled almost as much during the same period.The sharp rise of gold and its moderate correction since has every investor asking what is going on.

Subscribe to enjoy similar stories. JACOB PALMER knew little about skilled manual jobs growing up, save that they were “dirty, sweaty" and “definitely seemed like lowbrow". But it took only a year of remote learning during the covid pandemic for Mr Palmer, who grew up in North Carolina, to realise that university wasn’t for him.

Mint explains.In the past couple of years, many deeptechs founded in the mid- and late-2010s have turned commercially viable and revenue-generating. In manufacturing, aerospace and defence, many companies are preparing for launch, witnessing an influx of customers, or have gone public.Precision manufacturer Aequs went public last year, while deeptech manufacturer Sedemac’s initial public offering was approved by the markets regulator.

₹6,818 is what it cost me to increase our family health cover from ₹20 lakh to ₹5 crore using a top-up policy. We are in our mid-50s with two children in their 20s.This is, by a large margin, the most cost-effective way to increase your health cover.

₹30,500 crore in FY15 to nearly ₹2.9 lakh crore by FY25, according to industry estimates and RBI data.The rapid expansion in cards and outstanding dues raises an uncomfortable question: are more Indians slipping into a credit card debt trap?Outstanding balances per card have also climbed steeply—from ₹1,600 in FY15 to nearly ₹25,700 in FY25—signalling significantly higher credit utilization.For those who have already fallen into the trap, is there a practical way out? Experts say—yes, there is.The real issue, experts argue, is not the rise in credit card usage, but the purpose for which cards are being used.“While rising credit card usage reflects both expanding financial access and growing consumer confidence, the intent behind spending matters more than the volume,” said Yashoraj Tyagi, chief executive officer, CASHe, an online lending platform.“When usage grows faster and financial literacy doesn’t catch up, credit stops being just a convenience tool, it becomes a survival tool,” said Bhuvanaa Shreeram, co-founder of House of Alpha Investment Advisers, a Sebi registered investment advisory firm.Rising delinquencies suggest that for a segment of borrowers, cards are not just financing convenience purchases—they are also plugging cash-flow gaps. And that, she believes, is the real problem.According to the Reserve Bank of India’s (RBI) Financial Stability Report, household debt in India rose to about 41.3% of GDP by end-March 2025, up from around 38% in recent years.

Subscribe to enjoy similar stories. After the US Supreme Court ruled against his emergency tariffs, President Donald Trump has vowed to rebuild the tariff wall by other means. However, his tariff weapon, blunted by the ruling, would never be the same again.

India is currently running two payment systems in parallel. On one side is its gleaming showcase, UPI, with 21.7 billion transactions in January 2026 worth ₹28.33 trillion in value. On the other side is the system of physical cash.

Subscribe to enjoy similar stories. On 14 February, the boards of Religare Enterprises Ltd (REL) and Religare Finvest Ltd (RFL) approved a demerger of its insurance and financial services businesses into two separate listed entities. REL will retain control of Care Health Insurance, while lending, broking, investment, and ancillary activities would be transferred to RFL.

New Delhi/Bengaluru: Embattled entrepreneur Bhavish Aggarwal-owned artificial intelligence venture, Krutrim, is being propped up almost entirely by business routed through venture-capital- and public-investor-backed Ola companies — raising fresh questions among experts over governance and the use of shareholder-backed resources to support a promoter-owned unit.Krutrim SI Designs Pvt Ltd, which Aggarwal set up through his family office in the summer of 2023, reported revenue from operations of ₹101.7 crore for the year ended March 2025, according to its financials filed with the ministry of corporate affairs. Of this, ₹90.8 crore or 90% of revenue came from two group entities: Ola Electric Mobility and ANI Technologies.Ola Electric Technologies Pvt Ltd, the wholly-owned subsidiary of Ola Electric Mobility Ltd, accounted for ₹23.87 crore, while Ola Cell Technologies Pvt Ltd, the other subsidiary of the listed company, brought in ₹2.29 crore, according to the review of the financials by Mint.

Jewar: HCL Group, the parent firm of India’s third-largest tech services company HCLTech, aims to supply chips for a quarter of all of India’s displays within as soon as two years, chairperson of the group Roshni Nadar-Malhotra said on Saturday.The top executive, who also happens to be the only woman at the helm of one of India’s six large-cap IT services firms, was speaking at the inauguration of the company’s joint-venture chip assembly plant for displays in Jewar, Uttar Pradesh.“It’s too early to discuss client names, but there is ample demand, and India has a huge market. We’ll roll out the first commercial display chip from our plant in 2028, and look to scale up to our peak capacity of 36 million chips per month very soon.

Tata Steel, India's second-largest steelmaker, aims to source half of its iron ore requirements from captive mines after 2030, down from 100% now, as steep premiums in mine auctions make relying only on leased blocks economically unviable—prompting the company to consider open-market purchases and imports to secure ore.“We will certainly look for at least 50% captive so that the operations are stable, but between 50 and 100 will probably depend on the economics,” Tata Steel chief executive officer T.V. Narendran told Mint on the sidelines of a business event on Saturday, 21 February.The shift comes ahead of the expiry of its leases in Jharkhand and Odisha by FY2030 under the amended Mines and Minerals (Development and Regulation) Act, which mandates auctions for allocation of mineral blocks—which will raise raw material costs at India's oldest steelmakers, as also its peers.The steelmaker will look to buy iron ore from the open market post 2030 when its long term leases of captive iron ore mines end.

Subscribe to enjoy similar stories. New Delhi: A set of common initiatives and directives signed by India, the US, China and 83 other countries at the recently concluded India AI Impact Summit will shape global collaborations on artificial intelligence (AI) despite the agreement being non-binding in nature, said a top bureaucrat who spearheaded the declaration. On Saturday, the government released the New Delhi declaration that was signed by 88 entities, including the European Union (EU) and the International Fund for Agricultural Development (IFAD).

Subscribe to enjoy similar stories. India is developing contingency plans for crude oil imports as rising tensions in West Asia push global oil prices higher and raise fears of supply disruptions.

Subscribe to enjoy similar stories. JSW Infrastructure Ltd’s management has approved equity fund raising of up to 250 million shares on Friday, which is almost equal to its initial public offering (IPO) size in terms of number of shares. A qualified institutional placement (QIP) is likely to be the preferred mode for raising funds.

Subscribe to enjoy similar stories. Indian equities may attempt a relief rally this week, but renewed uncertainty around US trade policy is likely to keep investors on their toes. A weekend of sharp tariff moves from Washington has once again clouded the outlook for global markets, including India.

Subscribe to enjoy similar stories. New Delhi: India and the US have postponed talks on the proposed interim bilateral trade agreement following recent developments in Washington, including the US Supreme Court striking down the reciprocal tariffs imposed by President Donald Trump and the subsequent imposition of a new 15% universal tariff under Section 122 of the Trade Act of 1974.

GST cuts to take effect in September. Analysts at JM Financial predicted in September that the price reduction could translate into 9-10% additional volume growth for air-conditioners. As the segment is fiercely competitive, most sellers passed the benefit on to customers.Listed AC makers reported a difficult quarter.

Mint, SDHI chief executive officer Vipin Kumar Saxena said the companies plan to cooperate initially on medium-range (MR) product tankers and potentially very large gas carriers (VLGCs), with Samsung providing designs and engineering support.“We will start by working together on specific ships (MR tankers and VLGCs). Once we execute these successfully and build confidence, the relationship can evolve further,” Saxena said in the interview.Samsung will license vessel designs and provide engineering and material packages, while construction will take place at SDHI’s Pipavav yard.

poha becomes 200 calories. Chapatis, dosas and pooris all become data points.When it started in 2012, the idea felt almost premature. India was only beginning to embrace food delivery apps and venture capital was chasing e-commerce and mobility.

Subscribe to enjoy similar stories. HONG KONG—In his two decades at Silicon Valley venture-capital titan Sequoia, Neil Shen made billions by identifying and investing in every major tech company to emerge in China. Now, the Chinese billionaire is betting big on artificial intelligence, using American capital to fund Chinese firms competing in the global AI race.

Kati Patang Lifestyle, the maker of Saffron Lager and Bareilly Bold, is sharpening its focus on premium beers and preparing to enter the spirits business.Co-founder, Shantanu Upadhyay, speaking to Mint exclusively, said it is in advanced discussions to acquire a controlling stake in premium spirits brands and distribution networks, which could expand its addressable market from roughly $1-10 billion while improving margins.The company is also scaling up its UK presence as the BSE-listed brewer seeks to reposition itself as a lifestyle-led alcoholic beverage platform rather than a niche craft label. Kati Patang is also planning a real estate project under its name, which will house some hospitality projects.The decade-old New Delhi-based company, which listed last year through a share-swap with VirtualSoft Systems Ltd, has increased its stake in CHADKP Holdings Ltd, owner of Chadlington Brewery and The Tite Inn in Oxford, from 23% to 51%, gaining majority control within a year of its initial £300,000, or about ₹3.67 crore, investment.The company is also in advanced talks to enter the spirits business, given that a large share of alcohol consumption in India is in brown spirits such as whisky.