UPS Financial News

Adani Power Ltd. rose 0.42 per cent to Rs 590.3 at 11:10AM hours (IST) on Wednesday. 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 124,003 shares with a turnover of Rs 7.28 crore till 11:10AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 14.24, while the price-to-book value ratio stood at 5.78.

Lexus Granito(India)Ltd.(up 12.95%), Gujarat Mineral Development Corporation Ltd.(up 7.77%), Oriental Trimex Ltd.(up 5.01%), Madhav Marbles & Granites Ltd.(up 4.40%), The Orissa Minerals Development Company Ltd.(up 3.66%), Ashapura Minechem Ltd.(up 3.46%), NMDC Ltd.(up 3.33%), MOIL Ltd.(up 2.62%), Sandur Manganese & Iron Ores Ltd.(up 2.32%) and Pokarna Ltd.(up 2.05%) were among the top gainers.

SIG Combibloc wants to make a difference. Last year, the Swiss firm — with a India clientele of brands like Amul, KMF, MilkyMist, Heritage Dairy, Coca-Cola, Parle Agro — began constructing its 10th global aseptic packaging plant in Ahmedabad, which will create over 300 jobs. In a conversation with ET Digital, Samuel Sigrist, CEO, SIG Group, talks about aseptic packaging technology and how India is the right market for it. Edited excepts: Economic Times (ET): What kind of potential is SIG looking to cater to in India when it comes to sustainable dairy packaging or sustainable packaging? Samuel Sigrist (SS): This is an amazing starting point, because in some markets in Asia, we first need to teach people to like milk. But that is not the challenge here. So the problem statement here starts with an opportunity statement. It is the largest milk market in the world and less than 10% is processed and packaged; and even a smaller part is in the safest form in the aseptic beverage carton. Now that just shows you the upside that we see. What drives this upside is not just the population growth, but also rising disposable income growth, a growing middle class and urbanisation.

The NSE Nifty index traded 93.41 points up at 24565.5, while BSE Sensex was up 284.22 points at 80504.94 as of 11:19AM(IST)on October 23.

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Subscribe to enjoy similar stories. Chinese residents have been illicitly moving billions of dollars out of the country under authorities’ noses as a cratering property market and economic uncertainties push people to find safer places to park their wealth overseas. Moving fortunes out of China is hard: The country imposes strict capital controls that cap individual purchases of foreign exchange at $50,000 a year.

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deep depression over east-central Bay of Bengal intensified into cyclonic storm 'Dana' on Wednesday morning, the India Meteorological Department (IMD) said. The storm is likely to move in a northwestward direction, intensify further into a severe cyclonic storm over northwest Bay of Bengal and cross the Odisha-West Bengal coasts between Puri and Sagar Island in the early hours of October 25 with wind speeds of up to 120 kmph, the IMD added. The system lay 560 km southeast of Paradip and 630 km south-southeast of Sagar Island at 5.30 am, it said. Advising fishermen not to venture into the sea from October 23 to 25, the Met warned that wind speed is likely to reach 60 kilometres per hour (kmph) along and off Odisha-West Bengal coasts from October 23 and gradually increase to 100-110 kmph, gusting to 120 kmph, from October 24 night till October 25 morning.

FIIs) ended up increasing stakes in 8 out of top 10 tech companies in India apparently to play the interest rate cut cycle in the US. September quarter shareholding pattern analysis shows that FII ownership in Infosys rose 54 basis points to 33.28%, TCS 31 bps to 12.66%, Tech Mahindra 40 bps to 23.67%, HCL Tech 22 bps to 18.67% and by 15 bps to 7.27% in case of Wipro.

stocks whose retail holdings exceed institutional stake in them, have turned multibaggers in the last one year period. In this, nine are scrips of state-run companies. An ETMarkets analysis finds over 600 stocks with market capitalisation of Rs 500 crore or more where retail holdings (shares worth up to Rs 2 lakh) are above institutional holdings i.e. stakes held by foreign institutional investors (FIIs), domestic institutional investors (DIIs) and mutual funds.

global trade, increased its full-year guidance for a fourth time in less than six months, citing stronger demand and higher freight rates caused by supply chain disruptions from attacks in the Red Sea. Maersk now sees underlying earnings before interest, tax, depreciation and amortisation of $11 billion to $11.5 billion this year, topping both its prior forecast range and the average $10.1 billion estimate of analysts surveyed by Bloomberg. Maersk had already raised its 2024 profit forecast in May, June and August, as the Red Sea conflict was having a larger than previously expected impact on the world’s supply lines. The Houthi attacks have since late last year forced container vessels to sail south of Africa, absorbing some of the overcapacity in the container industry, which in turn has helped boost container rates.

Sampath Reddy, Founder & CIO, Azurean Investment Managers, says overall, the steep growth in the earnings that we had seen in the last several quarters, is getting decelerated. As a result, overall the valuation premium that we used to enjoy vis-a-vis most other global markets is getting slightly compressed. So, we could see a subdued trend in the market for some more time, more so in the midcap and smallcap segments. I am guessing the portfolio is not looking a very pretty picture right now and if possible, perhaps one should stay away from looking at the portfolios today with the kind of weakness that we are seeing. But do you expect this to be only a transient issue or are the next couple of weeks and months going to be full of turmoil and volatility for individual investors? Sampath Reddy: The way the markets have moved up over the last few years, overall valuations are on the higher side, especially more so in the midcap and smallcap segment where the valuations are much more steep. Because of which, there could be a subduedness in the market overall for the very near term and even if we were to look at the quarterly numbers of the Q2, most other places, the numbers are coming slightly below expectations.

U.S. stocks drifted to a mixed close after erasing most of their losses from earlier in the day

A small town in far eastern Cuba is recovering from flooding that killed at least seven people after Hurricane Oscar crossed the island’s eastern coast as a tropical storm with winds and heavy rain

Indian nationals in the Russian Army during his bilateral meeting on Tuesday with Russian President Vladimir Putin on the sidelines of the 16th BRICS Summit in Kazan. Addressing a media briefing, Foreign Secretary Vikram Misri said the two leaders also shared perspectives on the ongoing conflict in Ukraine. Prime Minister reiterated that dialogue and diplomacy was the way forward to achieve resolution of the conflict. He briefed President Putin about his engagements with the Ukrainian leadership and noted that India stood ready to contribute in bringing peace to the region. «An important issue that came up was the issue of early discharge of the remaining Indian nationals in the Russian army. This figured from both sides in the discussion and with the support of the Russian side, a number of Indian nationals have, in recent months, been able to return to India. We understand that currently the embassy is pursuing around 20 cases with the Russian side and we very much hope that all of these individuals can be released at an early date and be repatriated to India very soon,» he said.

Mumbai: India’s stock market slumped on Tuesday as continued selling by foreign investors, amid concerns over slowing earnings growth, heightened risk-off sentiment. The selloff was broad-based with mid-cap and small-cap stocks bearing the brunt of the souring mood among investors, resulting in flight of money to safe-haven assets such as gold, which extended its record-breaking streak. The NSE Nifty fell 309 points, or 1.25%, to close at 24,472.10. The BSE Sensex declined 930.55 points, or 1.15%, to end at 80,220.72. Out of the 50 shares on the Nifty, 47 ended lower, while three notched up gains.

certificates of deposits (CDs) jumped 69% on-year to ₹5.58 lakh crore in FY25 up to October 4, as lenders turned to short-term debt instruments for their funding needs instead of raising deposit rates and facing pressure on net interest margins. In its October bulletin, the Reserve Bank of India (RBI) said primary market issuances of CDs by banks were at ₹5.58 lakh crore from April 1 to October 4. The RBI noted that banks preferred to bridge a funding gap through short-term debt instruments «rather than raising deposit rates.» Banks have faced pressure to mobilise funds through various avenues over the past couple of years as credit growth has outpaced deposit growth, although the extent of the wedge between the two has narrowed over the last couple of months. As on October 4, bank credit growth was at 14.1% year-on-year, while deposit growth was at 12.2% over the same period, RBI data showed.

Acko General Insurance is closing a $100-120-million secondary deal that will see some of its earliest backers including Infosys founder Narayana Murthy's venture capital firm Catamaran Ventures and private equity fund Chrys Capital’s founder Ashish Dhawan selling stakes in the new-age insurer. Incoming investors include Enam group’s family office led by Akash Bhanshali, CaratLane founder Mithun Sacheti, Arpwood Capital and public market veteran Madhusudan Kela of MK Ventures, people familiar with the development told ET. Existing shareholder private equity major General Atlantic will also shore up its position by acquiring additional stake, one of the persons said.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Making Money host Charles Payne reveals how much the top 1% actually pay in taxes.