UPS Financial News

This was the ECB's second rate cut one this year following a 25bps reduction in June. It came on the back of faltering economic growth and softer eurozone inflation, with the latter dropping to 2.2% last month. Eurozone inflation drops to 2.2% in August According to the central bank's Governing Council, inflation is expected to pick up again later this year, «partly because previous sharp falls in energy prices will drop out of the annual rates», before declining towards the ECB's 2% target in the second half of 2025. «The Governing Council will continue to follow a data-depende...

Uttar Pradesh, once called a bimaru (sick) state with low industrialisation, is on its way to become a boom state. As it strives to become an electronics hub, the state will now get a semiconductor plant too. The joint venture between Taiwan’s Foxconn and IT services major HCL Group has been allotted around thirty acres of land, near the upcoming Jewar airport in Uttar Pradesh’s Noida, to set up a semiconductor outsourced assembly and testing (OSAT) unit, said Et has reported based on information from sources. Uttar Pradesh has received proposals for projects totalling around Rs 40,038 crore under its new policy to incentivise semiconductor manufacturing and attract global investments in the state, the government said in a statement in July. Among several proposals, it has so far considered Hiranandani group’s Tarq Semiconductor plant. In fact, Uttar Pradesh has emerged as the only north Indian state actively vying for high-tech industrial projects which has traditionally been the mainstay of south Indian states. Uttar Pradesh has followed states Karnataka, Tamil Nadu and Gujarat to have a dedicated semiconductor policy.

The spacewalk was the centerpiece of Polaris Dawn, a collaboration between Elon Musk's SpaceX and Jared Isaacman, a billionaire entrepreneur who is leading the mission. «Back at home, we all have a lot of work to do, but from here, Earth sure looks like a perfect world,» he said while standing in the hatch of the SpaceX Crew Dragon capsule with the planet above his head.

Congress' Vinesh Phogat, the sports icon who became the fierce face of an anti-sexual harassment protest and retired from wrestling after a shock end to her medal campaign at the Paris Olympics, AAP's Kavita Dalal, the first Indian woman wrestler to compete in the WWE, and BJP's Yogesh Bairagi, a commercial pilot. While Phogat enters the political arena with this election, Dalal, popularly known as Lady Khali, joined the Aam Aadmi Party in 2022 and Bairagi has been part of the BJP for about four years. It's the first election for all three, all of whom are in their 30s.

M Rajeshwar Rao, Deputy Governor of the Reserve Bank of India (RBI), has stated that infrastructure projects pose significant risks, complicating their financing. He advocated for a unified approach to infrastructure development, viewing projects as interconnected rather than independent. This announcement coincides with RBI's proposal for new rules requiring banks to set aside an additional 5% provision of the loan amount, up from the current requirement of 0.4%. If implemented, this would increase the cost of project financing. Rao made these comments at an infrastructure seminar organized by the National Bank for Financing Infrastructure and Development (NaBFID). «High sunk costs, coupled with long gestation periods, further complicate the financing of infrastructure projects and lead to asset-liability mismatches. Delays in approvals, clearances, land acquisition challenges, and breaches of agreements also add to the risks of project financing and cause further issues like cost overruns,» Rao said. He emphasized that infrastructure projects are interdependent, so issues in one project can impact others, making coordinated planning and execution crucial.

Max Healthcare Institute Ltd. traded 0.44 per cent up at Rs 916.65 at around 01:58PM (IST) on Friday. The stock had closed at Rs 912.6 in the previous session. Equity benchmark Sensex traded 33.43 points lower at 82929.28 around the same time.

Bigg Boss 18 is reaching new heights as fans gear up for yet another thrilling season of the popular reality TV show. Hosted by Salman Khan, who has become synonymous with the show, this season is promising to be a unique experience with several surprises in store, including a rumored «Past, Present, and Future» theme. Though official details remain under wraps, the leaked information and speculation are enough to keep fans buzzing.

LTIMindtree Ltd. gained 0.48 per cent to Rs 6423.1 in Friday's session as of 01:38PM (IST) even as the equity benchmark Sensex traded 88.8 points lower at 82873.91. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 6442.65 and a 52-week low of Rs 4518.35 on NSE. Around 4630 shares changed hands on the counter till 01:38PM (IST).

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«The only thing under your control as an investor is your asset allocation, your financial goals and your ability to manage your risk. What the market will do is outside your control, it is outside your knowledge, it is in the realm of unknown,» says Vetri Subramaniam, CIO, UTI AMC. The party continues and I have been told that the new definition of party is that it continues till the sunrise if you are in India and if you are in Goa. So, looks like the party which started three years ago will extend itself. Vetri Subramaniam: Well, bull markets have a way of continuing, but they also have a way of ending abruptly. So, you do not want to be the last one to leave the party.

Adani Power Ltd. traded 2.1 per cent up at Rs 637.65 at around 01:53PM (IST) on Friday. The stock had closed at Rs 651.35 in the previous session. Equity benchmark Sensex traded 29.36 points lower at 82933.35 around the same time.

Padmar ilish’ (hilsa from the Padma River) during Durga Puja this year. The interim government in Bangladesh has decided not to continue its hilsa export to India, prioritising domestic demand. The Fish Importers’ Association in Kolkata had requested the Bangladesh government to allow the continuation of hilsa exports as per the usual practice. Since 2019, under the leadership of the now-deposed Prime Minister Sheikh Hasina, Bangladesh had been exporting over 1,000 tonnes of hilsa to India in the month leading up to Durga Puja. On August 9, the association wrote to Bangladesh government adviser Touhid Hossain, asking to permit limited hilsa trade. However, Farida Akhtar, an adviser to Bangladesh's fish and animal resource ministry, has refused the request, citing rising domestic demand. Reports from Dhaka indicate that Akhtar has instructed the commerce ministry to ensure no hilsa exports this year.

Subscribe to enjoy similar stories. Whenever Mitchell Moses, 40, a one-time drill sergeant now living in Fort Knox, Ky., sees a guy shaving at Planet Fitness, he thinks: “Man, if you were a soldier you wouldn’t be taking that long." Indeed, men in the military must shave at lightning pace, sometimes twice a day. A hint of stubble is “the first thing that will get you yelled at in the morning," said Matt Semple, 27, a former Navy officer.

Bharat Forge Ltd. traded 1.06 per cent up at Rs 1607.8 on Friday at around 11:51AM (IST), while the benchmark BSE Sensex declined 34.31 points to 82928.4. As many as 6,575 shares changed hands on the counter with a total value of Rs 1.05 crore.

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...

PI Industries Ltd. traded 0.1 per cent up in Friday's trade at 11:56AM (IST). Around 1,361 shares changed hands on the counter. The stock opened at Rs 4662.95 and touched an intraday high and low of Rs 4686.75 and Rs 4637.1, respectively, in the session so far. The stock of PI Industries Ltd. quoted a 52-week high of Rs 4748.25 and a 52-week low of Rs 3060.0.

Havells India Ltd. traded at Rs 1993.6 on BSE at 10:56AM (IST) on Friday, down 0.11 per cent from previous close. The stock quoted a 52-week low price of Rs 1233.1 and a high of Rs 2023.4.

GAIL (India) Ltd. traded 0.02 per cent higher in Friday's session at 12:06PM (IST). The stock opened at Rs 220.4 and has touched an intraday high and low of Rs 221.75 and Rs 219.9, respectively, during the session so far. The stock quoted a 52-week high of Rs 246.35 and a 52-week low of 116.2. About 77,272 shares changed hands on the counter so far.

commercial real estate transactions across eight major cities in the country in the first half of the year. Deals for office spaces above 100,000 sq ft recorded a 54% on-year growth in the first half of calendar year 2024 to 15.69 million sq ft. These deals contributed 45% of the overall commercial transactions, showed data from Knight Frank India. Bengaluru’s commercial market continued to witness leasing domination in this segment as this contributed 53% to the city’s total office transaction volumes, amounting to 4.5 million sq ft, up 32% from a year ago.

HDFC Asset Management Company Ltd. gained 0.29 per cent to Rs 4401.0 at 11:41AM (IST) in Friday's trade. The scrip has hit a high of Rs 4449.0 and low of Rs 4385.1 so far during the session. The stock had closed at Rs 4387.9 in the previous session. The counter has had a total traded volume of 3943 shares so far with a value of Rs 1.74 crore on the NSE. It traded at a price-to-earnings multiple of 45.45 and a price-to-book ratio of 11.32.

Sri Lanka prepares to elect a new leader, Namal Rajapaksa is running for president. The 38-year-old is the son of former President Mahinda Rajapaksa and the nephew of the ousted President Gotabaya Rajapaksa. Namal Rajapaksa is presenting himself as an agent of change, but many see his bid for presidency as an attempt by the controversial political dynasty to regain power. By mid-2022, the clan's political career seemed in ruins. Some of its members were forced into hiding in military camps after angry protesters stormed their residences. Others simply gave up their seats in the government as people blamed them for hurtling the country of more than 20 million people into an economic crisis.