UPS Financial News

Ventive Hospitality, a joint venture between the world's largest private equity firm Blackstone Group and Pune-based Panchshil Realty, is looking at filing a draft prospectus for an initial public offering in the next couple of weeks, according to sources close to the development. The JV, which could be the largest international multi-brand hotel owner in India by Ebitda, plans to raise around ₹2,500 crore through a fresh issue of shares.

Adani Green Energy, the renewables arm of the Adani Group, plans to redeem $750 million in bonds due on September 9, which has led yields to drop 60 basis points to 6.22%. The redemption will be financed through a mix of internal accruals, a $300 million infusion from strategic partner Total Energies (which holds a 19.75% stake), and $281 million from the promoters. The company will also draw $169 million from the debt service reserve account, hedge reserves, and interest on reserves, sources said.

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...

Indian government bonds has accelerated through August as decision-influencing US data and Federal Reserve commentary point toward a rate cut later this month, but are not alarming by themselves to trigger a risk-off sentiment on Wall Street and dent financial assets in the world's fastest-expanding major economy. From July 31 to August 30, the indicative value of foreign portfolio investors' aggregate holdings in fully accessible route (FAR) government bonds increased by ₹23,914 crore, or around $2.85 billion, to ₹2.29 lakh crore, an analysis of official clearing house data showed. The inflow topped the broad market expectations of around $2 billion of average monthly inflows following the inclusion of local debt in a JP Morgan index.

dollar remained firm on Wednesday while riskier currencies like sterling and the Aussie dollar languished as investors ran for safety following the worst sell-off in almost a month on Wall Street. The catalyst was ostensibly some soft U.S. manufacturing data, which fanned worries about a hard landing for the economy, as traders braced for crucial monthly payrolls data on Friday.

Nvidia tumbled 9.5% on Tuesday in the deepest ever single-day decline in market value for a U.S. company, as investors softened their optimism about artificial intelligence in a broad market selloff following tepid economic data. Nvidia lost $279 billion in market capitalization, a major indication that investors are becoming more cautious about emerging AI technology that has fueled much of this year's stock market gains.

ongoing Paris Paralympics 2024, winning a bronze. Devi's video clip, showcasing her precision by the use just her right foot, jaw support, and shoulder movement, went viral. Her moves were aptly summed up by Erik Solheim, Norway's environment minister, who wrote on X: "This is beyond possible! Sheetal Devi is poetry in motion..." Devi is one of 84 Indian athletes at the Paralympics.

raising fresh capital. In the first eight months of 2024, 55 companies raised ₹58,400 crore through QIPs, the second-highest ever after ₹80,800 crore in 2020. With several companies announcing plans to raise funds, QIPs are on track to break records in 2024. The corporate sector is taking advantage of the vibrant equity markets to strengthen balance sheets and raise the required resources to fund expansion plans, said market participants.

Mahesh Nandurkar, Jefferies, says he would be wary about IT services companies, select PSU names that have run up quite hard as well as select midcaps and small-caps. He would prefer to sit on the sidelines on some of those from the short and medium-term perspective. Nandurkar also says that barring one sector, the other sectors of the economy are seeing private sector investments already coming through. Sectorally, where are you most cautious right now?

Kamala Harris will propose a tax deduction of up to $50,000 for new small businesses on Wednesday, a tenfold increase over existing relief and her latest economic policy aimed at winning over middle-class Americans after jumping into the presidential race over a month ago. Harris is aiming to draw a contrast with her opponent, Republican Donald Trump, on broad economic strategy, specifically on tariffs and taxes. Her progressive economic agenda is focused on taxing wealthier individuals and companies more, and increased federal funding for child care and other social programs aimed at working parents. The new plan, to be announced in New Hampshire, will propose expanding the startup expense deduction for small businesses from $5,000 to $50,000, a campaign official said. On average, it costs $40,000 to start a new business, the official said, speaking on condition of anonymity.

Oberoi Hotels pastry chef Kainaz Messman, had launched the sale process in January, after its private equity backer ICICI Venture decided to exit its investment. The company appointed investment bank Arpwood Partners to line up buyers. “The real negotiations will begin now.

General Insurance Corp, ONGC, SpiceJet, GSK Pharma, Cipla among others will be in focus due to various news developments. General Insurance Corp The government has proposed to sell 6.78% stake in General Insurance Corporation of India via offer for sale (OFS) and has set the floor price for the issue at Rs 395 per share.

Securities and Exchange Board of India (Sebi) officials made an unprecedented complaint to the finance ministry last month, accusing the capital and commodities market regulator's leadership of fostering a toxic work culture. «Shouting, scolding and public humiliation have become a norm in meetings,» said the August 6 letter, which ET has reviewed. The communication has come to light at a time when Sebi chairperson Madhabi Puri Buch is facing accusations of conflict of interest over the regulator's Adani inquiry and the Opposition has raised questions over compensation paid to her by former employer ICICI Bank. Zee Group founder Subhash Chandra accused her of corruption on Tuesday. Buch has denied any wrongdoing as has ICICI Bank. Sebi said matters with employees have been resolved. «The issues referred in your mail have already been addressed by Sebi,» the regulator said in an email.

Buy or sell stocks for today: Domestic equity benchmarks Nifty 50 and Sensex took a breather after days of relentless rally to settle flat in the previous session over profit-taking in metal, oil and information technology (IT) shares amid a lack of fresh triggers and weak global trends. Breaking its 10-day winning run, the 30-share BSE Sensex slipped 4.40 points or 0.01 per cent to settle at 82,555.44 in a range-bound trade. During the day, it dropped 159.08 points or 0.19 per cent to 82,400.76.

₹4,000 crore. Canada Pension Plan Investment Board (CPPIB), the other final bidder, too had submitted a binding bid for the deal run by JP Morgan. Cube Highways will now be given exclusivity to close the deal for the portfolio of five road assets totalling 230 km.

grassroots campaign in support of Democratic presidential nominee Kamala Harris in key battleground states. Vice President Harris, 59, who is of mixed parentage, her mother immigrated to the US from Chennai and her father moved to the country from Jamaica, is up against Republican candidate and former president Donald Trump, 78. The "Indian Americans for Harris" campaign — launched on Tuesday — aims at ensuring that the presidential elections make history by electing Harris as the first person of Indian heritage to lead the US, according to the group's members. «This is the first time we have someone whose mother is from India. She has got Indian heritage and culture. What she has learned, I felt that we Indian Americans should support her beyond the party line,» North Carolina-based businessman Swadesh Chatterjee told PTI.

NBFC). Some HDFC Bank board members were keen on the deal, but after much debate, the board took a collective call to not risk missing the listing deadline, the people cited above said on condition of anonymity. HDBFS is mandated to go public by September 2025, as per guidelines of banking regulator Reserve Bank of India (RBI).

A hedge fund that's been urging Southwest Airlines to dump its CEO and chairman says it has acquired enough of the company's stock to call a special meeting of shareholders

₹5,000 crore from the sale, one of the three people said, while a second person said the sale plan was initiated three weeks ago. Pernod’s plan to sell Imperial Blue comes two years after rival Diageo sold a bunch of low-margin brands including Haywards, Honey Bee and Romanov, reflecting multinational liquor makers' preference for premium brands that sell less but earn more. Goldman Sachs declined to comment, while spokespersons for Pernod Ricard and Goldman Sachs did not respond to emailed queries.

A former state employee who said he leaked information about the plans to build golf courses and hotels in Florida’s state parks has apparently been fired

U.S. stocks tumbled to their worst day since an early August sell-off after another report raised worries about the economy’s health