UPS Financial News

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Domestic benchmark index NSE Nifty ended 11.66 points up at 24823.15, while the BSE Sensex closed 33.02 points up at 81086.21.

Meera Mukherjee: Breaking Moulds, there is a lovely anecdote about how the late sculptor’s tryst with art started. “It all began at the chaukhat of their home in Calcutta. Meera sat with her Maa to decorate the doorway with alponas while the rest of the house was bustling with the celebrations of Laxmi Pujo," writes author Vaishali Shroff in this book from Art1st Book’s Art Exploration series meant for kids aged eight-plus, illustrated beautifully by Shivam Choudhary.

Karma Energy Ltd.(up 5.00%), Transformers & Rectifiers(India)Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), GE T&D India Ltd.(up 4.75%), Energy Development Company Ltd.(up 4.29%), Kalpataru Projects International Ltd.(up 3.70%), Jyoti Structures Ltd.(up 3.68%), Indowind Energy Ltd.(up 2.64%), Power and Instrumentation(Gujarat)Ltd.(up 2.01%) and Inox Wind Energy Ltd.(up 1.74%) stood among the top gainers.

The NSE Nifty index ended the session 11.66 points up at 24823.15, while BSE Sensex rose 33.02 points to 81086.21.

Prathamesh Mallya, Deputy Vice President, Research, Commodities & Currencies, Angel One, says in an ideal scenario, if you are a genuine, risk-averse investor who wants to diversify some part of your portfolio, 10% can be in gold. But in times of uncertainty like this, wherein you have a lot of things at play, gold is one asset that rallies and there is no stop to this rally. In that case, the ideal allocation should be in the 10- 15% range.

₹9,879 crore. The first six weeks of the quarter that included Akshaya Tritiya saw 20% retail growth. However, a steep rally in gold rates, election-led restrictions in many markets, very few wedding dates and an unprecedented heatwave across the country hurt the overall consumer demand during the quarter, Titan said in its earnings announcement.

LT Foods Ltd.(up 4.91%), ADF Foods Ltd.(up 4.58%), JHS Svendgaard Laboratories Ltd.(up 2.74%), Dangee Dums Ltd.(up 1.51%), Gillette India Ltd.(up 1.42%), Mrs. Bectors Food Specialities Ltd.(up 0.99%), Hatsun Agro Products Ltd.(up 0.97%), Hindustan Unilever Ltd.(up 0.82%), Heritage Foods Ltd.(up 0.56%) and Procter & Gamble Hygiene & Healthcare Ltd.(up 0.38%) stood among the top gainers.

Bhavish Aggarwal has rejected claims of copying MapmyIndia, saying the map company was attempting to ride on Ola Electric's listing coattails. The Chairman and Managing Director of Ola brand owner ANI Technologies told PTI that the company has sent legal notice to MapmyIndia but hasn't received any reply from them. «Empty vessels make more sound. These people woke up suddenly someday. Ola Electric is not even in the maps business. In the run-up to Ola electric IPO they just wanted to ride on its coattails. We have also given them legal notice, their reply has not come till date,» Aggarwal said. Ola Electric got listed on the bourses on August 9. The company raised Rs 5,500 crore from its initial public offering.

Sicily found a body Friday, presumed to be the teenage daughter of UK tech tycoon Mike Lynch, who also perished. The discovery, confirmed to AFP by the Italian coastguard, brings to seven the final death toll in the sinking of the «Bayesian», which went down off the Italian island before dawn on Monday. The bodies of Lynch, a celebrated tech entrepreneur and investor, and four other passengers were found on Wednesday and Thursday, with his 18-year-old daughter Hannah the only one still missing.

Shares of Sunteck Realty Ltd.(up 2.99 per cent) ended the day as top gainers in the pack.

Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Economic Symposium later in the day. On Thursday, three Fed officials hinted at a potential rate cut in September, expressing support for a «slow and methodical» approach to policy changes. Powell’s speech, scheduled for 7:30 PM IST, is highly anticipated by traders looking for positive signals regarding interest rate cuts.

Shares of Tata Technologies today surged 4.5% to its day’s high of Rs 1,054 on BSE after the company reportedly saw a block deal worth Rs 1,218 crore, representing 2.9% of the company's total equity. Nearly 1.2 crore shares changed hands at an average price of Rs 1,019.8 per share, according to reports.

Cred has received certification from NPCI Bharat Billpay to operate as a customer operating unit (COU) on the Bharat Bill Payments System, the company said in a note on Friday. This certification allows Cred to establish more partnerships with major billers and banks on the BBPS platform, speeding up credit card bill payments made through the app. Additionally, Cred users will gain access to process bill payments across all billers available on the BBPS network, the company said on Friday. Developed by the National Payments Corporation of India (NPCI), BBPS is a unified platform that facilitates all forms of bill payments across India.

M3M India on Friday reported a 37 per cent increase in sales of residential and commercial properties in the June quarter to Rs 3,911 crore on strong demand. Its sales bookings stood at Rs 2,854 crore in the year-ago period. Out of total sales bookings in the April-June period of the current fiscal, Rs 2,972 crore pertained to the housing segment and Rs 940 crore to commercial properties, the company said in a statement. During the first quarter of this fiscal, M3M India said the total sales bookings in Gurugram stood at Rs 2,415 crore, while Noida projects contributed Rs 402 crore. Sales of residential plots at Panipat in Haryana were Rs 1,094 crore.

Shares of Bajaj Auto Ltd.(up 4.97 per cent), TVS Motor Company Ltd.(up 2.25 per cent), Samvardhana Motherson International Ltd.(up 1.98 per cent), Tata Motors Ltd.(up 1.9 per cent) and Tata Motors Ltd.(up 1.57 per cent) ended the day as top gainers in the pack.

Benchmark NSE Nifty closed 11.66 points up at 24823.15 amid buying in frontline bluechip counters.

Insha Ghai Kalra has dispelled fake news regarding the death of her husband, Ankit Kalra. Ankit, an interior designer and social media influencer, passed away suddenly on August 19. Although she did not divulge the reason behind his demise, the influencer hinted it may have been a heart attack. “Ankit, you left me to be with God, and it's so unfair. Our 1.5 years together were far too short. That morning, I had no idea it would be our last. I'm still in denial, praying that this is all just a terrible dream and I'll wake up on your side. Your heart gave up, and with it, my life has come to a stop. We had so many plans, and now I'm lost without you. This can't be true. You left me behind, and it's a loss I'll never overcome! Heaven is so so lucky to have you,“ she wrote. This gave rise to many speculations as to what could have caused his death. Insha later took to Instagram to issue a clarification and debunk fake news. “To all those who make fake assumptions. He was a healthy person and had no medical history. It was an unexpected and sudden cardiac arrest while sleeping. So please, if you can not support the family in their tough times, please don't overshare fake news,” she wrote.

"Auto industry is 1.4 times compared to its pre-COVID level. So, we have to look at what is relatively better when it comes to the valuation and one should look at in that context, especially at this level of markets," says Shreyash Devalkar, Axis Mutual Fund. Nifty FMCG Index is actually at life-high levels. Is this really a right time to perhaps come up with a consumption fund or are you not concerned about valuations at all? Shreyash Devalkar: Actually in the market, most of the indices or most of the stocks are at their premium valuations and they are at their peak valuations per se. Barring, actually, if you look at the re-rating which has happened across the board. So, it has happened across the board. It is like consumer durable companies, say capital goods companies.

July 2024, engineering goods exports to countries like the US, UAE, Saudi Arabia, and Singapore witnessed a positive growth whereas exports to countries like Bangladesh and Russia experienced a decline during this period, according to latest data released by Engineering Exports Promotion Council (EEPC). Among the 25 major destinations for Indian engineering goods, exports showed growth in 10 countries, while 15 countries experienced a decline. The top 25 countries contribute 75.5% of total engineering exports to the country, said EEPC in a statement . At $1.5 billion, engineering goods exports to the US recorded 4.2% year-on-year growth in July this year. Engineering exports to the UAE stood at $625.78 million in July this year, up 65.6% year-on-year. The exports to Saudi Arabia rose 9.2% year-on-year to $412.30 million in July this year.

Qatar reports of seizure of copies of the Guru Granth Sahib, and is according high priority to the matter. «We have seen reports regarding the Guru Granth Sahib seized by the Qatari authorities and the demand of their release by the Sikh community,» External Affairs Ministry spokesperson Randhir Jaiswal said. He said the government has already taken up the matter with the Qatar side and the Indian embassy in Doha has kept the Sikh community in the Qatari capital abreast of the developments. «It is important to note that two Swaroops of Guru Granth Sahib were taken by Qatar authorities from two individuals/groups who were charged for running religious establishment without approval of the government of Qatar,» Jaiswal said.