UPS Financial News

Pawan Parakh, Fund Manager, Geojit Financial Services, says in auto, we have hardly scratched the surface as far as electric vehicles are concerned, but a lot of these companies are getting valuations as if EV is 20%, 30%, 40% of their sales. This is one segment where, even at the OEM level, there are unbelievable valuations. Apart from that, in the retail space, once again some of the companies, despite how good the performance is, the valuations can be justified. Also, in some of these PSU names, a lot of the stocks have run up as if they are great Maharatna companies. These are the few pockets Parakh will be looking for the next two-three quarters. What so far within the earnings has really stood out for you either as a positive or a negative surprise? Pawan Parakh: So far not many companies have reported their earnings but whatever is out, it is one sector which we continue to like. Very clearly from now on or maybe a quarter onward you should see momentum coming back as far as its revenues are concerned. So, it is one sector which looks good. Some of the data that we picked up from various channels is that this time around e-comm sales are also being reasonably good.

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Reliance Industries (RIL) will be in focus on Thursday as the oil-to-retail conglomerate has fixed Monday, October 28, 2024 as the record date for determining shareholders eligible for the issue of 1:1 bonus shares. The company received approval from shareholders late Wednesday. The total percentage of votes cast in favour of the bonus issue resolution was 99.92%, with just 0.07% votes against it.

dollar held near an 11-week high on Thursday as uncertainty over the upcoming U.S. election looms and as resilience in the U.S. economy added to bets the Federal Reserve will be less aggressive in easing rates versus its peers elsewhere. The highlight of the Asia day will be a press conference in China at 0200 GMT focused on measures to prop up its beleaguered property sector, which will be key in getting the economy back on steadier footing and determining whether the rally in Chinese markets can continue.

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Subscribe to enjoy similar stories. Growing up, I believed ‘Cadbury’ was just another word for chocolate, and I wasn’t the only one. Milk chocolate was first imported into India by the British and it’s now a daily habit for one in five Indians, according to a 2019 report by Mintel.

Subscribe to enjoy similar stories. The promoters of Haldiram Snacks Food Pvt Ltd. are now looking to offload 10-15% stake against the initial plan to sell a majority holding in India’s largest snack-maker that has drawn interest from top global investors, said three people with the knowledge of the development.

Subscribe to enjoy similar stories. Mumbai: The stock of BSE Ltd has surged this month on market expectation that it will benefit from a regulatory move to curb options trading, but the exchange’s low options premium turnover could dampen the party. BSE’s stock rose 17% through October to touch ₹4,521.85 apiece on Wednesday, compared to a fall of 1.3% for the Nifty Midcap 150 index, of which BSE Ltd is a constituent.

Subscribe to enjoy similar stories. Bengaluru/Mumbai: Startup and e-commerce companies may rescue the hiring season for the batches of 2025 at India’s top engineering and business schools by ramping up campus placement targets when the jobs market is still tepid. “For the upcoming placement season, we have set an ambitious target of hiring over 230 recruits across multiple roles—a 55% increase from last year," said Manmeet Sandhu, head of human resources, for fintech platform PhonePe.

U.S. stocks rose following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies

CSX delivered 3% more shipments in the third quarter to help drive its profit 8% higher

Monstrous hurricanes Helene and Milton caused so much complex havoc that damages are still being added up, but experts in economics, insurance and risk say they are likely to be in the pantheon of super-costly $50 billion disasters

The Supreme Court has allowed a Biden administration rule aimed at limiting planet-warming pollution from coal-fired power plants to remain in place as legal challenges play out

News that inflation dropped to a more than three-year low in September has not changed the financial picture for many Canadians who continue to struggle with a permanently higher cost of living.

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...

Bengaluru: Primus Senior Living has secured $20 million in seed funds from investors led by General Catalyst, said Adarsh Narahari, its founder and managing director. The funding round also saw participation from Nikhil Kamath and Gruhas, the investment firm co-founded by Kamath and Abhijeet Pai. «At Primus, we envision a future where ageing is not seen as a burden but as a cherished phase of life. Our goal is to create a vibrant, inclusive ecosystem where seniors are not only cared for but celebrated-surrounded by love, connection, and purpose,» said Narahari.

India is expected to see steady revenue growth for the next three years, after recent quarterly declines following extraordinary growth in 2023 driven by 5G roll outs, aaid Andres Vicente, Senior Vice President, Market Area South East Asia, Oceania & India, Ericsson. Speaking to ET’s Subhrojit Mallick and Romit Guha, Vicente also backed the view of Indian telcos of a level playing field with satcom companies. Edited excerpts: Opportunities in India… Now that the (5G) infrastructure has been built, we need the adoption of this new infrastructure.

sales growth in the first half of this fiscal year, underscoring continued weak consumer sentiment and sluggish demand in the world’s third-largest automobile market. Mahindra & Mahindra (M&M), Toyota Kirloskar Motor and Kia India reported higher sales, while others including the top three—Maruti Suzuki, Hyundai and Tata Motors saw sales decline during the period. Sales at Toyota Kirloskar—the maker of Fortuner and Innova Hycross models—grew more than 31%--the fastest pace among all automakers, in a market where overall volumes expanded by only 0.5%. M&M and Kia followed, clocking sales growth of 21% and 5.6%, respectively, according to data from the Society of Indian Automobile Manufacturers (SIAM).

semiconductor powerhouse through the India Semiconductor Mission. AMD, Micron India, and LAM Research are among companies seeking to close the skills gap by putting new recruits through technical bootcamps, teaming up students with employees working on next-generation technologies, setting up research labs in universities, and rolling out mentorship opportunities. Despite being a late entrant, the government is pushing to make India a major player in the global semiconductor space. In 2021, the Modi government launched the India Semiconductor Mission (ISM) with an outlay of Rs 76,000 crore for semiconductor manufacturing, packaging, and design units.

digital applications which would be cheaper and more effective that can be shared with the Global South, a top IT ministry official said on Wednesday. Today, in many international fora, India has been recognised as a digital power, S Krishnan, secretary at the Ministry of Electronics and Information Technology (MeitY), said at a virtual address to the Nasscom Future Forge 2024 event held in Bengaluru. Apart from policy support and enabling requirements that big enterprises would have, there could be some ease of doing business issues for technology companies that require attention from time to time, and which are brought to MeitY's notice, he said.

The Walt Disney Co. is set to pilot a new pass for guests to get on rides faster at its domestic theme parks, but the cost might be a bit out of reach for many