UPS Financial News

India's top electric vehicle maker, Tata Motors, is luring consumers with free charging and steep discounts, while rival MG Motor has launched its first battery rental plan, in strategies aimed at propping up sales of the clean cars. Use of electric vehicles (EVs) has grown rapidly in recent years to account for 2% of India's annual sales of 4.2 million cars, but sales growth is now faltering, which analysts blame on high prices and lack of charging facilities. «We want to make electric vehicles affordable,» Satinder Singh Bajwa, chief commercial officer of MG Motor, said at an event to launch the firm's new EV with a battery rental service, the world's first of its kind.

REC Ltd. traded 1.61 per cent up at Rs 571.45 at around 02:08PM (IST) on Thursday. The stock had closed at Rs 562.35 in the previous session. Equity benchmark Sensex traded 771.74 points higher at 82294.9 around the same time.

Kareena Kapoor Khan and her husband Saif Ali Khan, director Farah Khan, Malaika’s ex-husband Arbaaz Khan, and ex-boyfriend Arjun Kapoor, were among the few who attended the event. Arbaaz Khan was spotted arriving at the event alongside his wife, Sshura Khan. Arbaaz opted for a casual look, wearing a white shirt paired with denim, while Sshura kept it comfortable in a sweatshirt and trousers. Kareena Kapoor showed up dressed in a white shirt and pants. Saif Ali Khan attended the gathering with Karisma Kapoor by his side. Various members of the Khan family were present for the final rites. Sohail Khan was seen arriving with his son, Nirvaan Khan, while his niece, Alizeh Agnihotri, also attended. Numerous other celebrities, including Sophie Choudry, arrived to pay their respects. Both were dressed in white attire. Earlier, Malaika Arora, her mother, Joyce Polycarp, and her son, Arhaan Khan, were also seen arriving for the solemn occasion.

IPO) of Western Carriers will open for public subscription on Friday. Ahead of the debut, the company's shares have no GMP in the unlisted market. The IPO, which is priced in the range of Rs 163-172 apiece, will close on September 18 and the bidding for anchor investors will be done later today.

India (SEA). «The overall import of vegetable oils during the first ten months of the current oil year (November 2023 to August 2024) is reported at 136.8 lakh tonnes compared to 141.2 lakh tonnes during the same period of last year; down by 3%,» said SEA in a media release. The trade estimate for import of edible oils during September and October is about 27 to 28 lakh tonnes. «The total import of cooking oils during the 2023-24 oil year is likely to be 160 -165 lakh tonnes, which is similar to the previous year. The total stock as on September 1, stands at 29.25 lakh tonnes, up by 23,000 tons from the 29.02 tonnes reported on August 1, 2024,» said SEA.

cryptocurrency market experienced a notable surge on Thursday, buoyed by U.S. core inflation data that slightly exceeded expectations, diminishing hopes for a significant rate cut by the Federal Reserve next week. U.S. consumer prices edged up in August, with core inflation remaining somewhat persistent. The core Consumer Price Index (CPI) increased by 0.28% for the month, surpassing the anticipated 0.2% rise.

₹750 crore, or 25% of Ather’s fresh issue, is earmarked for research and development (R&D), which is comparable to Hero’s FY24 R&D budget of ₹826 crore, or around 2% of its revenue. Read this | With Rizta, Ather looks to bond better with family scooter market The other objective of the issue is the capital expenditure of ₹927 crore for setting up a new plant in Maharashtra with initial capacity of 500,000 units. The existing capacity at the Tamil Nadu plant is about 400,000 units, though its capacity utilization is only around 30%.

Amazon offers on vacuum cleanersExperience powerful suction with the Philips PowerPro FC9352/01 vacuum cleaner. Its compact and lightweight design makes it easy to manoeuvre around your home. The PowerCyclone 5 technology ensures efficient dust separation, while the MultiClean nozzle tackles various surfaces.

«Of course, structurally, we may see a higher interest rate compared to the history or the past, but still, they should be significantly lower from what they are today, at least 100 to 150 bps or maybe closer to 200 bps lower over the next 12-18 months so that is another very big positive,» says Sachin Shah, Emkay Investment Managers. First up, the market view itself because, of course, while a lot of people have been saying that we are toppish and the fundamentals perhaps are getting overshadowed by liquidity right now, what is your view on where the market momentum lies and what should we factor in for the market peak? Sachin Shah: I think it is getting kind of a consensus view that the valuations are getting a bit stretched, at least in some pockets of the market, particularly the smallcaps and midcap, those kind of things, and of course, the largecaps are much more reasonably valued.

Walking is one of the easiest forms of exercise, but have you ever tried walking before bed? A 30-minute evening walk not only refreshes the mind but can also offer several surprising health benefits. Adding a nighttime stroll to your routine can do wonders for your physical and mental well-being. Let’s dive into the key benefits of walking before bed and how to maximise your evening walk.

ACC Ltd. traded 0.62 per cent up at Rs 2453.65 at around 01:43PM (IST) on Thursday. The stock had closed at Rs 2438.3 in the previous session. Equity benchmark Sensex traded 155.8 points higher at 81678.96 around the same time.

Hemang Jani, Independent Market Expert, says in India, it will be better to play the EV theme through some of the incumbent players. In two-wheelers, companies like Bajaj, Hero, TVS, and in four-wheelers, Maruti. It has been indicated that a large part of Maruti’s growth will come through hybrids or EVs. It makes more sense to go with those established players rather than trying to find newer emerging stories with very high valuations. Jani would also stay away from OMCs because state elections are coming and just to get some more positive sentiment, the government may roll out some kind of a price cut and that may not be that positive for the oil marketing companies. What is the outlook when it comes to the EV push, given that we are talking about this scheme? The Atul Auto management is saying it is going to benefit the entire EV value chain. Your take? Hemang Jani: The fact that there is going to be a certain amount of incentivisation by the government is pretty much known and the actual rollout is not that good compared to what the market was expecting. Also, for EV as a theme, there is too much hype and many IPOs. Even some of the existing players who have that offering are commanding much higher valuations whereas the actual growth at the ground level may not be that good.

Bharat Forge Ltd. traded 1.46 per cent up in Thursday's trade at 11:30AM (IST). Around 2,887 shares changed hands on the counter. The counter opened at Rs 1564.0 and touched an intraday high and low of Rs 1584.4 and Rs 1564.0, respectively, in the session so far. Shares of the company of Bharat Forge Ltd. quoted a 52-week high of Rs 1826.2 and a 52-week low of Rs 1002.7.

«So, the second quadrant, which even debt or bond yields are on a quieter phase. The third area is about currencies. Again, you will find that globally, there is no major upheaval as far as currency grows,» says Atul Suri, Marathon Trends — PMS. Markets are looking slightly jammed and global volatility has kicked in. Are we in for a volatile and a tough second half of this calendar year? Atul Suri: Actually, I think that it is human nature to be worried about things and you can see the markets yesterday, what happened in the US, down 500-600 points on the same data, closed 100-200 points higher.

Ravindra Energy Ltd.(up 5.00%), Inox Wind Ltd.(up 3.72%), Inox Wind Energy Ltd.(up 2.86%), KEC International Ltd.(up 2.72%), GE Power India Ltd.(up 2.15%), GE T&D India Ltd.(up 1.92%), JSW Energy Ltd.(up 1.89%), Jyoti Structures Ltd.(up 1.87%), Gujarat Industries Power Company Ltd.(up 1.54%) and Torrent Power Ltd.(up 1.52%) were among the top gainers.

«I mean, for them, for the banking sector, the whole slowdown going towards the recession, if there is one, that is a negative, so that could have played into the banking sector selling off,» says Santosh Rao, Manhattan Venture Partners. More inflation and labour data, I guess that is what investors are bracing for. But how is it that you have read into the inflation print? And does it seem like a September rate cut is pretty much par for the course now? Santosh Rao: Yes, in fact, after today's data 25 basis points is par for the course now. But down the road, there is some chatter that he might continue to cut rates down the road, so maybe two or three, so that is good.

InterGlobe Aviation Ltd. traded 1.72 per cent up at Rs 4982.4 at 11:20AM (IST) on Thursday, even as BSE benchmark Sensex gained 273.38 points to 81796.54. The stock had closed at Rs 4897.8 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 4987.5 and Rs 2334.95, respectively.

Indian rupee witnessed range-bound trade in the morning session on Thursday and appreciated by 2 paise to 83.97 against the US dollar, amid a positive trend in domestic equities and foreign fund inflows. Forex traders said the rupee continues to hold steady within a well-defined range on active intervention by the Reserve Bank of India (RBI). At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.97 against the American currency, registering a rise of 2 paise over its previous close.

Bharat Electronics Ltd. traded 0.76 per cent up at Rs 290.25 at 11:16AM (IST) on Thursday, even as BSE benchmark Sensex gained 225.31 points to 81748.47. The scrip had closed at Rs 288.05 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 340.35 and Rs 127.0, respectively.

Dutch challenger bank Bunq told CNBC that it plans to grow its global headcount by 70% this year to over 700 employees, even as other financial technology startups have decided to cut jobs.

Bajaj Auto Ltd.(up 2.63 per cent), Samvardhana Motherson International Ltd.(up 2.1 per cent), Bosch Ltd.(up 1.84 per cent), TVS Motor Company Ltd.(up 1.26 per cent) and Exide Industries Ltd.(up 1.02 per cent) were among the top gainers.