UPS Financial News

Subscribe to enjoy similar stories.India stands at a unique economic crossroads. It possesses massive household wealth that remains largely disconnected from its industrial engine. While the nation’s micro, small and medium enterprises (MSMEs) grapple with a staggering credit gap estimated at about $310 billion, Indian households are sitting on an estimated 34,600 tonnes of gold valued at roughly $3.8 trillion as of June 2025 as per a Morgan Stanley report.

Subscribe to enjoy similar stories.MUMBAI: India’s cement makers are bracing for a prolonged margin squeeze as rising fuel, freight and packaging costs, triggered by the West Asia conflict, test pricing power amid signs of demand softness.Companies are responding with fuel substitution, long-term sourcing contracts and efficiency measures, but analysts say these steps are unlikely to fully offset near-term cost pressures as construction activity slows.A Mint analysis of the top five cement companies shows three reported a year-on-year decline in fourth-quarter profits (Q4FY26) as higher input costs weighed on earnings.At the same time, executives and analysts say the sector’s ability to protect margins will depend on how far price hikes and operational efficiencies can offset structurally higher fuel and logistics costs.India’s largest cement maker, UltraTech Cement, said scale and procurement strategy are helping cushion the impact.“There are several measures…diversifying our sources of procurement, identifying newer opportunities to deal with the situation, and entering into long-term fuel contracts, which are now turning beneficial for us,” chief financial officer Atul Daga said during a post-earnings interaction on 27 April, after the company reported March-quarter earnings that beat expectations on stronger volumes and tighter cost control.The strong performance came despite escalating costs. Earnings before interest, taxes, depreciation, and amortization (Ebitda) climbed 21% to ₹5,600.3 crore, surpassing analyst estimates of ₹5,277.2 crore.Energy expenses, which account for more than a quarter of total costs for cement makers, have risen as the West Asia conflict pushes up crude oil and related fuel prices.

Subscribe to enjoy similar stories.India’s largest information technology (IT) services companies including Infosys Ltd and Cognizant Technology Solutions Corp are getting more work contracts based on fixed prices and outcomes as the use of AI-driven automation tools increases.This marks a shift from the traditional ‘time and material’ (T&M) billing model where IT services companies bill clients for the number of hours spent on work like coding, software development and maintenance. The change in pricing contracts follows the rise of automation tools that allow fewer people to handle IT projects.With fixed pricing, IT services companies and their clients determine prices for the work done regardless of the time spent or the outcome achieved.

Subscribe to enjoy similar stories.It’s the best of times. It’s the worst of times. Charles Dickens wasn’t an economist, not by far, but his immortal lines in A Tale of Two Cities perfectly captures India’s macroeconomic dilemma today.

Subscribe to enjoy similar stories.Tesla’s stock rose early, then fell, then rose again on Wednesday as CEO Elon Musk heads to China.Shares of the electric-vehicle maker traded up early, then dropped to as low as $430.21 before rising to $445.27, up 2.7% on the day, while the S&P 500 gained 0.6% and the Dow Jones Industrial Average fell 0.1%Tesla shares fell 2.6% on Tuesday, snapping a four-day winning streak that raised Tesla stock more than 14%. One thing sending shares higher was the hope that Tesla was close to receiving approval to sell its Full Self Driving, or FSD, driver-assistance product in China.Americans can pay $99 a month for FSD.

Subscribe to enjoy similar stories.AS AN UNEASY truce holds between America and Iran, experts are struggling to predict what new phase the conflict may enter next. Might an artificial-intelligence model know any better? To find out, The Economist asked RAND, a think-tank, to see if its new AI forecasting system thought a popular uprising was in the offing in Iran. Integrated Strategic Forecasting (ISF), as the system is known, put the chance of regime collapse or replacement by the end of 2026 at 20%—higher than many experts would hazard.There are caveats.

Subscribe to enjoy similar stories.The hedge-fund herd was early to see opportunity in the stocks of chip makers and other artificial-intelligence hardware companies. Those bets just delivered stock-picking funds their best month in over two decades.Steve Cohen’s Point72, Whale Rock Capital Management and Seligman Investments are among the hedge-fund firms that posted strong returns in April thanks in part to rallies in semiconductor stocks and those of related equipment makers.That helped make April the best month for stock-picking funds since December 1999, according to an industry index compiled by research firm PivotalPath, with a gain of 6.5%.

Subscribe to enjoy similar stories.For the last few years, Jerome Powell would walk past a portrait of Arthur Burns on his way to his office, addressing him silently.I’m not going to be you.Burns, the Fed chair under Richard Nixon, embodied two failures: He allowed inflation to get out of control, and he yielded to a president who wanted lower interest rates.Powell faced both hazards—inflation and presidential pressure—and more during his eight years as chair. The Fed won broad credit for its novel pandemic response, took a share of the blame for the high prices that followed and confounded predictions by bringing inflation down without a recession.

Subscribe to enjoy similar stories.A Ukrainian special-forces sniper claimed a world record in late 2023 with a shot that hit a Russian officer almost 2½ miles away.These days Vyacheslav Kovalskiy has a new job: supporting drone pilots. He hasn’t been out to shoot in more than a year and a half.Small drones that are cheap and can be rigged with explosives have changed the face of warfare in Ukraine, pushing some traditional military roles down the billing. Spotters who call in artillery strikes are no longer needed.

Subscribe to enjoy similar stories.When Meta Platforms said in April that it would lay off 10% of its staff, Allen Sun quickly booked a trip to Menlo Park, Calif.It was a prime opportunity. Sun, a Beijing-based headhunter for some of the biggest Chinese tech companies, works to lure China-born talent back home, targeting people at U.S.-based companies such as Meta, Google, Anthropic and Amazon.

Subscribe to enjoy similar stories.Skyroot Aerospace Pvt. Ltd.

Subscribe to enjoy similar stories.Mumbai: The Indian rupee is sliding from one record low to another, but economists say assigning a precise trajectory to the currency has become increasingly difficult amid the US-Iran war and the resultant crude oil shock.On Wednesday, the Indian currency hit another all-time low of 95.80 per US dollar before closing at 95.66 against its previous close of 95.68, according to data provided by Bloomberg. While the Reserve Bank of India's (RBI) intervention trimmed some losses on Tuesday, traders believe the central bank is not intervening as much in the currency market.A Mint poll of 10 banks, brokerages and economists showed the Indian rupee is expected to weaken further through the year, with most forecasts for end-2026 clustering in the 96-98 per dollar range.Amid heightened volatility, only five respondents were willing to offer a near-term forecast, projecting the currency in a broad range of 94.5-96.5 against the US dollar over the next two weeks to one month.Most economists expect the rupee to depreciate 3-4% in the current financial year if crude prices remain elevated.“Currently, it seems that the rupee is trying to head towards 96.5 levels.

Subscribe to enjoy similar stories.Stock market recap: The Indian equity benchmarks snapped their four-day losing streak on Wednesday, closing marginally higher after a volatile session. The market saw strong buying interest in metals, oil-linked counters, and select heavyweight stocks, which helped offset persistent weakness in IT and auto shares.The Sensex edged up 49.74 points, or 0.07%, to finish at 74,608.98, while the Nifty advanced 33.05 points, or 0.14 percent, to settle at 23,412.60.NLCINDIA (Cmp ₹325.70)NLCINDIA: Buy above ₹328, stop ₹313 target ₹358 (Multiday)ROSSARI: Buy above ₹534, stop ₹503 target ₹589 (Multiday) GNFC (Cmp ₹489.95)GNFC: Buy above ₹492, stop ₹467 target ₹550 (Multiday)On May 13, Indian equity benchmarks halted their four-day losing streak, closing marginally higher after a volatile session.

Subscribe to enjoy similar stories.Stock market recap: Indian equity markets ended Wednesday’s session on a resilient note, with late buying helping benchmarks overcome early volatility. The Nifty 50 closed at 23,412.60, up 33.05 points, or 0.14%.Still, broader sentiment remained cautious after the Indian rupee slid to a fresh record low of 95.80 against the US dollar, weighed down by elevated crude oil prices and continued foreign institutional investor (FII) outflows.Market breadth remained firmly positive, with 1,962 stocks advancing against 1,303 declines, signalling broad-based buying interest beyond index heavyweights.Among sectors, Nifty Metal outperformed with a sharp 3.18% gain, followed by Consumer Durables and Oil & Gas, which rose 1.67% and 1.28%, respectively.

Subscribe to enjoy similar stories.Days after Prime Minister Narendra Modi made a clarion call for austerity, the Centre sharply raised import duty on precious metals to save dollars, at a time when the Gulf crisis boosts energy prices, weakens the rupee, and eats into the nation's current account. While economists said the decision could dampen demand and arrest the rupee's fall, others said it may fuel smuggling and impact jobs in the jewellery sector.The finance ministry increased the total import duty on gold, silver and platinum from 9.18% to 18.45%.

Subscribe to enjoy similar stories.New Delhi: The government's push for flex-fuel vehicle rollout is facing a classic chicken-and-egg stalemate.Automakers aren't ready to commit to producing vehicles that run on high ethanol blends until the fuel is widely available. Oil marketing companies, on the other hand, are unwilling to invest in storing and supplying blends such as E85 and E100 until there are enough such vehicles on the road, according to three people aware of the development.The government is in talks with automakers and oil marketing companies to resolve the deadlock, the people cited above said, requesting anonymity.Unlike standard vehicles, flex-fuel vehicles can run on petrol or any petrol-ethanol blend.

Subscribe to enjoy similar stories.New Delhi: Tata Motors Ltd, India’s largest commercial vehicle maker, expressed caution about the industry’s growth in FY27, saying the true impact of the West Asia war on fuel prices and consumer sentiment is yet to be seen.The Mumbai company said it expects single-digit growth for the industry this fiscal year after retail sales grew 12% in FY26, crossing a million units for the first time as the goods and services tax (GST) cuts in September 2025 boosted consumer sentiment.Management’s comments came after the company reported a 5% dip in consolidated net profit in FY26 to ₹3,030 crore on Wednesday evening. Without a ₹1,428-crore loss on investments due to its equity stake in Tata Capital, which was listed during the fiscal year, the company’s profit grew by 9% to ₹4,458 crore.

Subscribe to enjoy similar stories.MUMBAI/BENGALURU: Indian jewellery retailers and industry bodies are recalibrating their strategies as gold becomes more expensive following the government’s latest import duty hike. Companies are focusing on gold exchange schemes and lower-karat products to prevent a drop in sales volume.On Tuesday, India raised the effective import tax on gold and silver to 15%, reversing the duty cuts announced two years ago.The move comes as the government attempts to rein in surging precious metal imports and protect India’s foreign exchange reserves amid elevated crude oil prices and geopolitical tensions in West Asia.

Subscribe to enjoy similar stories.STOCKHOLM, Sweden—This paragon of collectivism is pivoting toward rugged individualism.For decades, Sweden was shorthand for the brand of high-tax, high-spend government that managed people’s lives from cradle to grave through state-run hospitals, schools and care homes.No longer. With little fanfare, this Nordic country of 11 million has embraced capitalism.Today, nearly half of primary healthcare clinics are privately owned, many by private-equity firms.

Subscribe to enjoy similar stories.Despite the ongoing market volatility and geopolitical uncertainties, India remains firmly at the centre of global emerging market allocations, said Rahul Malhotra, region head of emerging markets and member of the global wealth management committee at Julius Baer Bank. Investors are likely “to start looking at India more actively again” by the end of the September quarter, he told Mint in an interview.Malhotra said investors remain positive on India, although many are currently in a wait-and-watch mode due to the geopolitical tensions, oil price risks, and broader macro developments.“Are we continuing to see interest in India? The short answer is yes,” he said.Malhotra added that while investors had become accustomed to 25-30% returns in recent years, such gains are not sustainable indefinitely and expectations will need to normalize over time.

Subscribe to enjoy similar stories.When President Trump arrives in Beijing this week for a summit with Xi Jinping, the Iran file will likely be on the agenda—whether or not either leader wants it there.Just last week, Iranian Foreign Minister Abbas Araghchi made his first trip to Beijing since the war began, a visit timed to land days before Trump’s plane touches down. The choreography was hardly subtle. Tehran wanted to remind Washington that Iran still has a friend in the world’s second-largest economy.