UPS Financial News

Adani Cement «achieve targeted growth ahead of time», said Adani Group Cement Business CEO Ajay Kapur in an investors' call on Monday. The Adani group, which had last week announced the acquisition of Orient Cement, aims to have a manufacturing capacity of 140 million tonnes per annum (MTPA) by FY28. «Adani Cement will benefit from accelerated growth, lower costs and good synergies, all of which will contribute to leading the market and achieving sustainable performance in the near future. The pace of capex has increased, which will help to achieve targeted growth ahead of time,» said Kapur. Ambuja Cement, part of Adani Group, which houses all cement assets, is a debt-free company and as of September 2024, cash and cash equivalent for the company was at Rs 10,135 crore, said Kapur.

Ambuja Cements will be open to exploring further acquisitions on its journey to 140 million tonne of production capacity, even after the Adani-group owned company has made two major buyouts in the last few months. “With a net worth of almost Rs 60,000 crore and being debt-free, we have enough opportunities for expansion, both organic and inorganic,” chief financial officer Vinod Bahety said. “You can understand the strength that the balance sheet has,” he told analysts on a call post the company’s quarterly earnings. The country’s second-largest producer of cement saw its consolidated profit more than halve on year in the September quarter to Rs 473 crore. Revenue from operations rose a little more than 1% to Rs 7,516 crore and were at an all-time high. The growth in revenues, though, was lower than the volume growth during the quarter.

Kamala Harris on the campaign trail in Michigan, urging people to elect «America's first female president». Former President and Republican nominee Donald Trump seems to be racing ahead of Harris in the last leg of the campaign. The United States presidential election will be held on Tuesday, November 5. Harris' popularity is declining compared to a month ago after she got a big summertime boost. Various polls and estimates show Trump tied in or ranking ahead of Harris. The race had started tightening a few weeks ago.

Diwali is here—a time to light up life with joy, prosperity, and fresh beginnings! But did you know each zodiac sign has its own unique way to enjoy this vibrant festival? Here’s a quick guide to help each sign make the most of Diwali, based on your natural traits and energies, as per a TOI report. Aries: Known for endless energy, Aries, this Diwali is your chance to take a breather. With all the excitement around, find moments of calm by lighting soothing candles or doing a quick mindfulness ritual to bring some peace to your fiery nature.

Autonomous tech is coming to farming

Apple has released a free software update that will inject its first dose of artificial intelligence into its iPhone 16 line-up as the trendsetting company tries to catch up with technology’s latest craze

Smucker’s Uncrustables could soon hit $1 billion in annual sales

Boeing is looking to raise up to approximately $19 billion in a stock offering as the aerospace giant, which is dealing with a contentious strike, faces liquidity issues and tries to raise cash

French President Emmanuel Macron is arriving in Morocco, where he is scheduled to meet with the North African kingdom’s leaders and discuss partnerships regarding trade, climate change and managing immigration

CarTrade Technologies reported a six-fold increase in consolidated net profit at Rs 30.72 crore for the second quarter ended Sep 30, 2024. The company had posted net profit of Rs 5.04 crore in the corresponding period of the last financial year.

Ecommerce software firm Unicommerce Esolutions, which went public in August, saw its net profit increase by 21% to Rs 4.4 crore for the quarter ended September 2024. The company reported operating revenue of Rs 29 crore for the quarter, from Rs 26 crore a year ago. Its total income stood at Rs 30 crore. The company’s total expenses rose to Rs 24 crore in the September quarter from Rs 22 crore in the same period last year. A significant amount of the expenditure was attributed to employee benefits which amounted to Rs 16 crore and other expenses at Rs 6 crore.

The recent surge in the prices was a momentum play following an escalation in the Middle East conflict, with Israel preparing to act on Iran’s missile attack. The US Fed Reserve’s interest rate cut, central banks' gold buying, upcoming US election and geopolitical risk are continuing to remain the key supportive factors for bullion prices. Investors may look for accumulation on any decline in the prices. The current market environment could be favourable for a strategic allocation in gold as an investment in the portfolio, said Tapan Patel, Fund Manager-Commodities, Tata Asset Management.

cleanliness campaign, officials said on Monday. The special campaign 4.0 launched by the government, with Department of Administrative Reforms & Public Grievances (DARPG) as the nodal department, will attain its stated objectives of institutionalisation of cleanliness campaigns and reduction in pendency with a saturation approach, according to an official statement. Giving details of the campaign being carried out from October 2-31, the Personnel Ministry said it has led to earning of Rs 279 crore through scrap disposal, freeing up of 127 lakh square feet OF space for productive use and redressal of 4.27 lakh public grievances. The statement said 29.47 lakh physical files were reviewed and 17.58 were identified and 15.44 lakh weeded out, said the statement issued by the Personnel Ministry, adding that 3.51 lakh e-files have been reviewed.

India with rapt attention and seriousness, and everyone is looking at the country with new hope and discussing the vast possibilities it presents in different fields. Addressing a gathering at Lathi in Amreli district of Gujarat after launching development projects worth Rs 4,800 crore, he said countries that participated in the recent BRICS summit (held in the Russian city of Kazan) expressed their eagerness to join hands with India and become partners in its development journey. German Chancellor Olaf Scholz, during his visit to New Delhi last week, announced that his country will issue visas to 90,000 Indians every year, and it is now up to the country's youth to prepare themselves as per their requirements, said Modi.

Wayanad (Kerala): In response to allegations levelled by her political opponents that she would rarely visit the constituency if elected, Congress candidate Priyanka Gandhi light-heartedly remarked on Monday that the people in the hill district might become fed up and request that she not visit so frequently. In her speech at the corner meeting in Panamaram, the AICC General Secretary shared her experience as a mother, noting how she frequently visited the school where her son was studying. «I want to tell you a story. When I was leaving my son in boarding school, the Principal said to me, you know these families, the big families come and leave children here, they never come to see the children. So I want to tell you one thing, come at least once in four months and see them. »When four months were over, when I went to pick up my son the Principal told me please don't come so much. Just like the Principal, you are thinking I would never come. Just like the Principal, you are going to tell after being fed up, please don't come this much," she said. Priyanka further said, just like her son the people of Wayanad are also her family.

Gillette India Ltd on Monday reported a 43.5 per cent rise in profit to Rs 133.01 crore for the quarter ended September 2024, led by a broad-based growth. The company, which follows the July-June financial year, had reported a profit of Rs 92.69 crore in the corresponding quarter of the preceding year, according to a BSE filing from Gillette India. Its revenue from operations increased 17.11 per cent to Rs 781.82 crore during the July-September quarter. It was at Rs 667.55 crore in the corresponding period a year ago.

scheduled caste. The commission will be headed by a retired High Court judge. The commission will gather empirical data and make its recommendation on the subject to the government, Law & Parliamentary Affairs Minister HK Patil told the media. The government will ask the commission to give its report in three months, he said, adding that all government recruitments would be put on hold pending the government decision on internal quotas.

Amazon Great Indian Festival: Over 70% savings on top vacuum cleaners from leading brands – our best picks!Water purifiers are essential to stay healthyWater purifiers under ₹10,000Water purifiers under ₹20,000Water purifiers under ₹30,000Also read: Exclusive Diwali sale offer on air purifiers during Amazon Great Indian Festival: Tackle air pollution efficientlyAir purifiers are becoming indispensable in homes, especially in regions with high pollution levels. These devices capture dust, pollen, smoke, and harmful pollutants, ensuring cleaner indoor air that’s easier on the lungs.

The move comes a year after Edelsten retired from Artemis, where he had managed the firm's Global Select fund and the Mid Wynd investment trust for a decade alongside Illingworth and Rosanna Burcheri, who now works at Fidelity.  Illingworth left Artemis shortly after Edelsten and set up Goshawk in November 2023 with the backing of Christopher Mills' Harwood Capital Group.  Edelsten will now serve as chair of Goshawk's investment committee, which includes Illingworth and the former Vermeer team of Tim Gregory, James Rowsell and Charlie Fricker.  Simon Edelsten to retire from Artemis...