UPS Financial News

Water-themed decor can be a bit kitschy, but for one of the sharpest legal minds with a brand-new address in posh Lutyens, it was a downright furnishing tragedy. One of Delhi’s recent downpours flooded the home, destroying furniture and art worth crores, leading to angry letters and furious calls to the guardians of the capital city, spurring immediate action. Tons of sludge had to be removed and blocked drains unclogged. Last heard, a high-powered committee has been set up to take stock of the fluid situation in this VVIP borough.

Ugar Sugar Works Ltd.(up 6.52%), Dhampur Sugar Mills Ltd.(up 0.41%), Triveni Engineering & Industries Ltd.(up 0.37%) and Vishwaraj Sugar Industries Ltd.(up 0.17%) stood among the top gainers.

When Jerome Powell delivered a high-profile speech last month, the Federal Reserve chair came the closest he ever had to declaring that the inflation surge that gripped the nation for three painful years was now essentially defeated

Up until now, the trust paid the manager 0.5% per annum of its net asset value, with a variable fee of 0.25% based on outperformance over a three-year period. Additionally, MNL paid £59,000 a year to M&L Capital Management for risk and valuation services in its capacity as an alternative investment fund manager. Premier Miton Global Renewables drops 'sustainable' investment objective amid SDR Under the tiered structure, the trust will pay 0.7% per annum of the NAV up to £750m; 0.5% of the NAV between £750m and £1.5bn, and 0.3% of the NAV above £1.5bn. As part of the changes, the...

Retail sales rose by an annual rate of 1% during the month, up from 0.5% in the July and above the three-month average of 0.4%, said the British Retail Consortium (BRC) trade body. Cold UK summer dampens consumer spending in June This was however below the March peak, but the BRC reassured that August was still a «strong rebound» versus from the significant drop in April and the slight decline back in June. A similar pattern appeared in the three-month average figures, which were up 2.9% year-on-year and signalled a recovery from June's lacklustre results, but this still came in be...

Sunil Subramaniam, Market Expert, says that speculation is part of a healthy capital market. It is only when you have these speculative entities like these people come in, that there is liquidity in the market. But if you regulate them and take them out, overall as a market, the liquidity is going to shrink. Should the regulator step in on the valuations? Subramaniam thinks that is right because there is no golden rule on what should be the right valuation. The market is the best determinant. So, unless there is clear evidence of fraud, some price fixing, rigging, or some false news put across which makes the share price go up, Sebi shouldn’t put in any regulation. The SME market is almost like a casino now. It does not feel like a stock market. Sunil Subramaniam: I fully agree with you. The reason for this is also related to the rampant futures and options situation. Demat accounts are going up. Post-COVID, youth with a lot of time on their hands, armed with internet and technology hands, are treating the stock market like a gambling den. There are no two ways about it. We do not have other options for gambling. We can see similar kinds of success when it comes to Dream11 and those kinds of sports-related apps. Despite all Sebi restrictions, financial influencers (fin fluencers) play a big part. It is like a get-rich-quick scheme. Booking gains from these IPOs show their intent. They are not investors. They are speculators.

In a letter to shareholders dated 30 August, Jupiter said the fund's total AUM had fallen to around £37.4m, which was «below the level at which the fund could be managed cost effectively and remain economically viable, and the fund is unlikely to attract new material investors in the future». As a result, the board said that closing the fund would be in the best interests of shareholders. The portfolio is set to close on 30 September, at which time all compulsory shares will be redeemed for clients, or, they can transfer their investment to another Jupiter portfolio free of charge up ...

«We are moving some part of the money from smallcap, midcaps into the largecaps, turning a bit more defensive from a near-term perspective. I personally believe that the economic growth driven by investment cycle is very much on a strong footing,» says Mahesh Nandurkar, Jefferies. What is your view on the market and what exactly are you communicating to your clients after the Union Budget and ahead of US elections? Mahesh Nandurkar: So, what we have been communicating to investors and what has been our strategy is that over the last couple of months we have toned down the risk or the beta factor in our portfolios.

For decades, climate scientists have been warning governments—and society at large—about the impact of climate change, especially the increased frequency and intensity of a range of nature-related disasters. Today, we are witnessing these unfold as news media headlines scream, almost on a daily basis, about how climate change has exacerbated disasters.

Narendra Modi 'hijack' another of Congress' guarantees, the party's general secretary in-charge communications, Jairam Ramesh, asked on September 3 with respect to the ongoing debate around caste census. In may be noted here that the debate over caste census continues to stir political discourse in India, highlighting the complexities of addressing historically marginalised communities while balancing social welfare and electoral strategy. The Congress questioned whether Modi will take up the mantle of conducting a caste census after the Rashtriya Swayamsevak Sangh (RSS) indicated no objection to it, provided the data is used for welfare and not politics. This inquiry comes after the RSS's statement on Monday during a three-day coordination conclave in Palakkad, Kerala, where it addressed the sensitive nature of caste-related issues for Hindu society.

“We wish to inform you that Union Cabinet chaired by Honourable Prime Minister of India, Shri Narendra Modi approved the proposal of Kaynes Semicon Private Limited, a wholly owned subsidiary of Kaynes Technology India Limited, to set up a semiconductor unit at Sanand, Gujarat through its press release dated 02nd September, 2024,” the company said in a filing to the exchanges.

ET Wealth Online. Removal of 18% GST on insurance premiums has been a longstanding demand of the various stakeholders of the insurance industry. Insurance customers also want the government to remove GST as the additional tax increases their financial burden. The debate over the 18% GST levied on life and health insurance premiums came to the forefront last month after various political leaders, including Union Minister of Road Transport and Highways Nitin Gadkari, urged Finance Minister Nirmala Sitharaman to rollback the tax. Will the central government finally remove 18% GST and bring down your life and health insurance premium? Read on to find out what experts are saying.

Defence stocks have corrected by up to 30% in the past one month as investors look to book profits after multibagger rallies over the past one-and-half years. As a strategy, investors should stay away from bottom fishing at this time and the decision to invest in this sector should come only when the signs of reversal become apparent, experts recommend. In the Nifty Defence index, six stocks have seen their price erode in double digits with Cochin Shipyard remaining the top loser in the pack falling by 30% in the last one month. It is followed by Garden Reach Shipbuilders & Engineers and Mazagon Dock Shipbuilders which have declined by 26% and 21%, respectively in the same period.

A decision on whether to reclassify marijuana as a less dangerous drug in the U.S. won’t come until after the November presidential election

Sikko Industries Ltd.(up 5.00%), Rama Phosphates Ltd.(up 2.87%), Agro Phos India Ltd.(up 2.47%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.77%), Coromandel International Ltd.(up 0.63%), Aries Agro Ltd.(up 0.43%), Nagarjuna Fertilizers and Chemicals Ltd.(up 0.40%), Krishana Phoschem Ltd.(up 0.37%), Madhya Bharat Agro Products Ltd.(up 0.26%) and Rashtriya Chemicals & Fertilizers Ltd.(up 0.21%) were among the top gainers.

mutual funds have ruled the return chart in August. Mutual funds based on three defensives — pharma & healthcare, technology, and consumption — offered an average returns of 6.33%, 4.75%, and 2.97% respectively in the said period. Around 14 pharma & healthcare sector based mutual funds have been there in the said period. WOC Pharma and Healthcare Fund offered the highest return of around 9.37%, followed by UTI Healthcare Fund which gave 7.08% return in the same time period. Quant Healthcare Fund offered the lowest return of 5% in a similar time frame.

Ravindra Energy Ltd.(up 5.00%), Suzlon Energy Ltd.(up 3.07%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Energy Development Company Ltd.(up 1.83%), Gujarat Industries Power Company Ltd.(up 1.61%), Inox Wind Ltd.(up 1.35%), PTC India Ltd.(up 1.32%), Jaiprakash Power Ventures Ltd.(up 1.23%), GE Power India Ltd.(up 1.16%) and NLC India Ltd.(up 0.93%) were among the top gainers.

Kolkata Police headquarters Lalbazar demanding the resignation of police commissioner Vineet Goyal, stayed put at nearby B B Ganguly Street even on Tuesday morning, more than 12 hours after they were stopped from marching further. The doctors, who were joined by several common people as well as students from other educational institutions spent the entire Monday night on BB Ganguly Street, around half a kilometre away from Lalbazar. A huge contingent of Kolkata Police officers remained on guard on the other side of the barricade built with guardrails chained together and locked with padlocks. The junior doctors had placed the replica of a spine and red roses on the barricade. The replica is to emphasise the duty of the police force to protect citizens, they claimed.

Delhi Jal Board (DJB) has planned to employ the Water Corporation of Odisha (WATCO), a non-profit under the Odisha government, to address the problem of loss of drinking water during transmission, reported TOI. About 58 per cent of water is wasted in transmission in the city, much higher than the national average of around 20 per cent. WATCO has been able to address a similar problem by bringing the loss of water rate down to 15 per cent from 50 per cent, said officials.

defence ministry meeting to undertake projects. The shares of Mazagon Dock Shipbuilders and GRSE surged up to 8% to their day’s high of 4,560 and Rs 1,940.75 respectively while those of HAL rallied 5% to Rs 4,925. The surge in the sector also pushed the shares of Bharat Dynamics up by 4% to Rs 1,356.

Pope Francis arrived in Muslim-majority Indonesia on Tuesday to kick off a four-nation tour of the Asia-Pacific that will be the longest and farthest of the 87-year-old's papacy. The head of the world's 1.3 billion Catholics touched down in Jakarta for a three-day visit devoted to inter-religious ties, and will then travel to Papua New Guinea, East Timor and Singapore. The 12-day tour will test the pontiff's increasingly fragile health, but he is often energised by being among his flock and he emerged from the 13-hour flight smiling and waving.