UPS Financial News

Aakash Educational Services plans to invest around Rs 100 crore in rebuilding and scaling up its edtech unit Aakash Digital after it has come out of the control of beleaguered edtech company BYJU'S, managing director and CEO Deepak Mehrotra said. In an interview to PTI, Mehrotra said that as part of Aakash 2.0 journey, the company will scale up Aakash Digital classrooms to cater to students across the country including in those areas where it is not feasible to set up physical rooms. «We have brought the Aakash Digital Program back under Aakash, we are building on it and investing heavily. We believe that over the next 18 to 24 months, we will be spending close to Rs 100 crore on building this programme — investing in technology, content, teacher capabilities, and delivery. This investment will go into the Aakash Digital Classroom Program,» Mehrotra said. BYJU's had acquired a majority stake in Aakash Educational Services (AESL) in April 2021 but due to financial trouble at the company, BYJU'S had to sell a significant stake in Aakash to Manipal Group chairman Ranjan Pai.

General Insurance has reported a 591% growth in profit after tax at Rs 414 crore for the first half of the current financial year against Rs 60 crore in the corresponding period of the previous financial year. The overall business also showed strong growth with the company's gross written premium (GWP) growing at 16.1% against the industry growth at 7%.

Hindustan Unilever (HUL) is expected to report a 2-4% increase in its Q2FY25 revenue partly offset by pricing cuts undertaken by the company in the reporting quarter. The top-line is expected to be in the range between Rs 15,621 crore and Rs 15,728 crore, according to estimates given by four brokerages. The net profit for the reporting quarter is estimated at Rs 2,592 — Rs 2,714 crore.

Adani Green Energy on Tuesday reported a 39% jump in its consolidated net profit for the quarter ended September 2024 to Rs 515 crore as against Rs 371 crore posted in the year-ago period. The revenue from operations for the reported quarter stood at Rs 3,376 crore, up 30% over Rs 2,589 crore posted by the company in the corresponding quarter of the previous financial year.

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Persistent Systems today announced its second quarter earnings, reporting a 23.4% jump in its profit after tax (PAT) at Rs 325 crore on a year-on-year (YoY) basis, while its revenue increased by 20% YoY. The company’s revenue for the second quarter ended September 2024 stands at Rs 2,897.15 crore.

Three Mile Island nuclear plant in Pennsylvania have sat dormant for so long that grass has sprung up in the towers' hollowed-out bases and wildlife roam inside. Armed guard stations at an entrance to the shut concrete facility, surrounded by barbed wire, sit empty. The plant, which would run so loud when operating that workers were required to wear hearing protection, is nearly silent. «It's still eerie walking in here and it's, just, quiet,» Constellation regulatory assurance manager Craig Smith said during a tour of the plant last week. Smith, who worked at Three Mile Island when Constellation shut the site's remaining reactor in 2019, is now preparing for a restart.

Triveni Engineering & Industries Ltd, which makes sugar and engineered-to-order turbo gearbox, has entered into Indian-Made Foreign Liquor (IMFL) business with launch of premium whisky brands in Uttar Pradesh. In a regulatory filing on Tuesday, Triveni informed that it has launched premium and super premium whisky brands 'Matsya Triple Reserve Blended Whisky' and 'The Crafters Stamp Rare Artisan Blended Whisky', respectively in Uttar Pradesh. «The current annual production capacities for these brands are 1,35,000 liters and 4,20,000 litres, respectively. Both whisky brands have been launched across 25 districts of Uttar Pradesh in July 2024,» it said. Triveni plans a roll out across the state by FY'26, covering over 5000 retail outlets.

U.S. sales are down and a once-profitable joint venture in China is losing money, but General Motors still managed to post $3 billion in net profits last quarter

Subscribe to enjoy similar stories. Bengaluru/Mumbai: Venture capital investors are increasingly encouraging some of their early- to mid-stage portfolio startups, such as IntrCity, BHive, and Leverage Edu, to go public, hoping to take advantage of a bullish stock market and return capital to their investors.

Subscribe to enjoy similar stories. Though better known for his cocktails, Pankaj Balachandran loves beer. Within the F&B realm, he’s best known for taking Countertop India, a bar consultation company, to great heights.

Subscribe to enjoy similar stories. Last week, after a couple of days of torrential rain, an unexpected visitor showed up at our house. Just as I was getting ready to go to work in the morning, I saw a large furry creature climb over the neighbour’s wall, saunter across our garden and slip through the small gate that separates our garden from the garage.

An “affordability shift” is taking root in the U.S. auto industry

Subscribe to enjoy similar stories. Keeping up with the latest investing trends can be a real hassle for retail investors nowadays.With fast-moving trends, changing market conditions, and numerous industries to choose from, new investors have a lot to consider when building their portfolios. But in today's hyper-connected digital world, we have access to more data and insights than ever before. This has made ‘guru investing’ more popular than ever.

Subscribe to enjoy similar stories. For any individual looking to invest, the challenge is to choose from different alternatives. The element of ‘noise’ is high in almost every avenue of investment, with contemporary developments able to swing the mood of investors and thus of the market at a moment’s notice.

Reasons to buyReasons to avoidThe LOTSPEK Children Bookshelf is a fun and colorful option for kids' rooms. With its library-style shelves, this bookshelf encourages kids to organize and display their books.

Tata Elxsi Ltd. traded 2.98 per cent down at Rs 7183.0 on Tuesday at around 01:49PM (IST), while the benchmark BSE Sensex declined 492.37 points to 80658.9. As many as 5,785 shares changed hands on the counter with a total value of Rs 4.21 crore.

Chetan Ahya, Chief Asia Economist, Morgan Stanley, says it looks like the urban economy or the urban consumption which had led the initial recovery, is the one which is slowing. We are looking at the auto sales data on a daily basis from the government sources and it is indicating that there has been an improvement in the last few days in terms of auto sales. But urban consumption is the one which has raised some concern because there has been a broad-based slowdown. While there has been a slowdown over the past few months, all eyes are now on what the festive season could potentially bring. Could we see some sort of a shift or a pickup? Chetan Ahya: Yes, that is right. We are expecting things to improve over the next few weeks. The main reason why growth was slowing was the government expenditure slowdown and then parallelly we had the excess rainfall in August and at the same time there were some shifts in the calendar effects, particularly the festival and inauspicious time period.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

HSBC on Tuesday named veteran insider Pam Kaur as its first female finance chief and announced a major overhaul comprising a new geographic setup and four consolidated business units.

Paytm has beat expectations or at least managed to do so for now, thanks to Zomato. One97 Communications, which operates fintech and digital payments major Paytm was expected to clock higher revenue growth but the losses were expected to widen in Q2. Losses for the July-September 2024 period were likely to widen up to Rs 660 crore from Rs 290 crore in the same period of last year. However, beating expectations in the second quarter of FY 2025, Paytm posted a profit of Rs 930 crore, largely fueled by a one-time exceptional gain of Rs 1,345 crore from selling its entertainment ticketing business to Zomato.