UPS Financial News

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Haldiram Snacks Food Pvt Ltd, the 87-year-old legacy brand which is India’s largest snack and convenience foods company. Earlier, it was reported that Haldiram’s promoters were planning to sell a controlling 51 per cent stake, but now a new report says they are looking to offload 10-15 per cent minority stake. Many global investors have been vying to buy a stake in the cash-rich and profitable company which has a long legacy of manufacturing the iconic Indian savoury snack, Bikaneri bhujia.

unicorn Slice has raised Rs 71.7 crore (around $8.53 million) from its founder and chief executive, Rajan Bajaj, through the issuance of partly paid-up shares. According to regulatory filings sourced from the Registrar of Companies (RoC), Slice’s board approved the issuance of up to 22,000 partly paid-up equity shares at a price of Rs 32,606 each to be issued in one or more tranches. This follows the Bengaluru-based company’s Rs 300 crore debt funding round, raised through compulsorily convertible debentures (CCDs) led by Taneja Family Trust, Anju Family Personal Trust, UK2 Family Trust, and MN Family Trust, with participation from Blume Ventures and 8i Ventures, among others.

Jitendra Sriram, Senior Fund Manager, Baroda BNP Paribas MF, says post the recent correction in the market, the utility space is definitely looking promising because of the energy demand that is coming in our economy and the kind of reactive steps that the utility sector is taking is definitely positive. That looks fairly interesting and even pockets of industrials are looking fairly interesting because the government was a little slow in the first half because of all the election dynamics, code of conduct and all these things. Further, Sriram says, one needs to keep the auto sector on the radar, but it could still shape up much better than what people are expecting. What is your take on the FMCG sector because over the last six or three months or so, we have been betting on the FMCG sector and there have been murmurs around the fact that a rural recovery is underway, the urban recovery is already there and maybe things will look better for the FMCG sector? Jitendra Sriram: It should happen because the monsoons have been fairly normal, and we would expect that at least the rural demand should start picking up.

Stocks in Europe regained some lost ground on Thursday as investors eyed a dovish outlook on top of an expected European Central Bank interest rate cut during the day, while parsing a largely upbeat set of corporate earnings. The continent-wide STOXX 600 index gained 0.4% at 0820 GMT, following a two-day decline.

In its trading update for its financial year ended 30 September, released today (17 October), AJ Bell said gross and net inflows across the platform were «significantly higher» than last year, driven by improved retail investor confidence and investment into the platform. AJ Bell Investments promotes Ryan Hughes to managing director Gross inflows during the 12-month period were £13.1bn, up 41% on 2023's £9.3bn. Net inflows stood at £6.1bn in 2024, up 45% year-on-year, compared with £4.2bn in 2023. The trading update added there had been favourable market movements of £9.5bn, equat...

Mphasis and Tech Mahindra on Thursday surged up to 5.5% on the NSE ahead of the second quarter results of major IT firms Infosys, Wipro and LTIMindtree, which are due later in the day. Mphasis shares gained the highest, rising 5.5% to the day’s high of Rs 3,072.10, followed by Infosys shares gaining 2% to an intraday high of Rs 1,958.35.

Waaree Energies, a leading solar panel manufacturing and installation company, expects rooftop solar (RTS) to contribute at least 30% in its total revenue in the coming years, Amit Paithankar, Chief Executive Officer, Waaree Energies, told ET. “In the next five years, RTS could most definitely be a significant contributor to our revenue, highlighting its importance in our strategic roadmap…We can foresee a minimum of 30% and upwards of RTS share in our revenue pie in the coming years,” Paithankar said. “As we gear up for this massive shift, our PV module manufacturing capacity expansion plans are well on-track and as it is, we have ample infrastructure to meet the foreseen demands,” he said.

DLF Ltd. traded at Rs 861.95 on BSE at 01:44PM (IST) on Thursday, down 2.55 per cent. The stock quoted a 52-week low price of Rs 513.55 and a high of Rs 967.0. Earlier in the day, the stock saw a gap up opening.

Gurmeet Chadha, Co-Founder & CEO, Complete Circle Consultants, says it is a little too early to comment on the festive season because we are not even midway of it, but if the trend continues, then there could be a little bit of derating in auto stocks because none of them trade below 25-30 times. Chadha also says that amongst two-wheelers, we have TVS Holdings also which is the holding company which they bought and Sundaram Clayton is in the portfolio. So, among the stocks that they would buy on a correction like this, TVS would be the first, followed by Bajaj Auto. He is more interested in auto ancillaries, including names like Sandhar Technologies and Uno Minda.

Tata Power Company Ltd. rose 1.61 per cent to Rs 452.9 in Thursday's trade. It hit an intraday high of Rs 462.7 and low of Rs 451.5, respectively, during the day. The stock quoted a 52-week high price of Rs 494.85 and low of Rs 230.75.

Havells India Ltd. traded 1.89 per cent up at Rs 1902.7 at around 01:13PM (IST) on Thursday. The stock had closed at Rs 1939.55 in the previous session. Equity benchmark Sensex traded 436.62 points lower at 81064.74 around the same time.

Maha Vikas Aghadi are underway for the upcoming Maharashtra assembly polls, Samajwadi party has demanded 12 seats from the alliance. Speaking to ANI, Samajwadi Party Maharashtra Chief Abu Azmi said that his post on X was not to express resentment but to remind the parties that the time is running away. Azmi said, «At present only Congress, NCP-SCP and Shiv Sena (UBT) are holding meetings. Meetings with other smaller parties are still pending. I was reminding them through my tweet that it is getting very late. I had heard that Congress was going to announce something too, so I had told them to take us into confidence. There is no resentment in this, I just wanted to remind that the relations between Rahul Gandhi and Akhilesh Yadav are also good.»

HDFC Asset Management Company Ltd. traded at Rs 4702.7 on BSE at 01:17PM (IST) on Thursday, down 2.69 per cent. The stock quoted a 52-week low price of Rs 2691.2 and a high of Rs 4862.0. Earlier in the day, the stock saw a gap up opening.

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...

Cummins India Ltd. slipped 2.13 per cent to Rs 3715.1 in Thursday's trade as of 12:47PM (IST). The stock hit a high price of Rs 3838.55 and low of Rs 3711.0 during the session.

REC Ltd. traded 1.8 per cent down in Thursday's trade at 12:42PM (IST). Around 116,013 shares changed hands on the counter. The scrip opened at Rs 556.95 and touched an intraday high and low of Rs 556.95 and Rs 534.5, respectively, in the session so far. Shares of the company of REC Ltd. quoted a 52-week high of Rs 653.9 and a 52-week low of Rs 259.5.

total contract value (TCV) into revenue, said Nitin Rakesh, CEO and MD of Mphasis, in an exclusive interaction with ET following its Q2 earnings. Driven by a recovery in revenue growth, Mphasis reported a 4.6% sequential rise in net profit to ₹423.3 crore for the September quarter. On a year-on-year (YoY) basis, net profit was up by 8%. The company’s revenue for the same period grew 3.3% quarter-on-quarter (QoQ) and 7.9% YoY to ₹3,536.1 crore. The Bengaluru-headquartered firm also saw an improvement in operating margins, which rose by 40 basis points (bps) QoQ but declined by 10 bps YoY to 15.4%.

Cryptocurrency prices exhibited mixed trends on Thursday. Bitcoin (BTC) remained volatile but managed to stay above the $67,400 mark, while Ethereum (ETH) continued to hover around $2,600. Solana (SOL) and Shiba Inu experienced slight dips over the past 24 hours. As of 11:41 pm IST, Bitcoin was up 0.6%, trading at $67,433, having earlier reached a high of $68,375. Ethereum gained 0.17%, rising to $2,623.

Tube Investments of India Ltd. dropped 1.87 per cent to Rs 4419.0 at 12:26PM (IST) in Thursday's trade. The scrip hit a high of Rs 4511.0 and low of Rs 4397.55 so far during the session. The stock had closed at Rs 4503.6 in the previous session. The counter had a total traded volume of 12:26PM shares so far with a turnover of Rs 0.48 crore on BSE. The stock traded at a price-to-earnings multiple of 70.63 and a price-to-book ratio of 14.15.

Quick commerce firm Zepto has held discussions to raise another $100-150 million from a group of domestic family offices and high-net-worth individuals (HNIs) at a pre-investment valuation of $4.6 billion, sources aware of the matter said. The Mumbai-based startup has raised $340 million at the same valuation in August after which it was valued at $5 billion. Motilal Oswal Group’s private wealth arm is running the mandate for the fundraise and Motilal Oswal Asset Management Company has already committed about $40 million in this round, per sources. ET first reported on August 29 saying Motilal Oswal Financial Service chairman Raamdeo Agrawal has backed Zepto in his personal capacity. Agarwal has also invested in Swiggy’s pre-IPO placement which has gathered lot of interest among high-net worth individuals and family offices.