UPS Financial News

Ashapura Minechem Ltd.(up 3.78%), Oriental Trimex Ltd.(up 1.80%), Coal India Ltd.(up 1.45%), Gujarat Mineral Development Corporation Ltd.(up 1.06%), 20 Microns Ltd.(up 0.89%) and KIOCL Ltd.(up 0.82%) stood among the top gainers.

Shares of Exide Industries Ltd.(up 2.17 per cent), Samvardhana Motherson International Ltd.(up 2.13 per cent), Apollo Tyres Ltd.(up 1.45 per cent), MRF Ltd.(up 1.45 per cent) and Bharat Forge Ltd.(up 1.44 per cent) ended the day as top gainers in the pack.

Ola Electric launched its much-awaited bikes: the Roadster, Roadster X, and Roadster Pro. Ola has priced these bikes at a competitive starting price of Rs 74,999, a price level that places it as a strong rival to many city-ride bikes from major 2-wheeler makers in India including Hero Moto. The Roadster, which comes in three variants, is priced at Rs 1,04,999, Rs 1,19,999, and Rs 1,39,999 per unit. The Roadster Pro, which has two battery variants, is priced at Rs 1,99,999 and Rs 2,49,999 per unit. The Roadster X, with three different battery variants, is priced at Rs 74,999, Rs 84,999, and Rs 99,999 per unit. Of the three, the Ola Roadster is the one to watch out for.

Also read: KYC Maze: Investors, distributors face updating hurdles with NDML & DotEx KRAs In the Reserve Bank of India’s (RBI) KYC norms through the Master Directive in 2016 and subsequent updates, banks were mandated to ensure: that any new bank account applicant is who they say they are (proof of identity); they live where they say they live (proof of address); banks had to also conduct a physical verification for the documents (OSV, or Original Seen and Verified and CPV, or Contact Point Verification) The reason for this type of verification is to ensure that no fraudster enters the system, specifically, the government was worried about terrorism and money laundering. Along the way, RBI introduced anti-money laundering checks to enhance security. The new fraudsters found that they could use minimum KYC compliance norms using stolen IDs to open ‘burner’ accounts or mule accounts.

₹10,000 segment with the introduction of the Moto G45 5G. Although the phone's official price starts at ₹10,999 in India, it is available at an effective price of ₹9,999 owing to launch offers, aligning it with the prices of two other recently launched 5G phones: the Vivo T3 Lite and the Realme C63.

Benchmark NSE Nifty closed 71.36 points up at 24770.2 amid buying in frontline bluechip counters.

Orient Green Power Company Ltd.(up 10.01%), India Power Corporation Ltd.(up 6.97%), CESC Ltd.(up 6.14%), GE Power India Ltd.(up 5.00%), Reliance Power Ltd.(up 5.00%), Ravindra Energy Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), RattanIndia Power Ltd.(up 4.97%), Jaiprakash Power Ventures Ltd.(up 3.76%) and Gujarat Industries Power Company Ltd.(up 2.99%) stood among the top gainers.

Read this | Tata, Vedanta, other business groups join the market upswing The analysis is based on data from the Association of Mutual Funds in India (Amfi), which classifies stocks based on guidelines from the Securities and Exchange Board of India issued in 2017. The latest categorization is derived from the average market capitalization of listed companies during the six months ended 30 June 2024.

Hero MotoCorp is gearing up to expand its scooter range and consolidate its position in the 125 cc bike segment as it looks to grow faster than the competition, according to CEO Niranjan Gupta. The company plans to roll out both petrol and electric scooter trims and also bolster the production capacity of 125 cc bike Xtreme 125R to cater to enhanced demand. «There will be action on the scooters front and action will be big on both ICE and EV side. The Destini full-body change will be unveiled very soon and then it will be followed by Xoom models — 125cc and 160cc — within this fiscal,» Gupta said in an analyst call. Coming to the EV segment, where the company will undertake portfolio expansion into mid- and affordable segments within this financial year, he added.

MUMBAI : Livpure, a provider of water purification solutions, has raised ₹233 crore in a funding round as it gears up for aggressive growth. The capital was raised from private equity giant M&G Investments and venture capital firm Ncubate Capital Partners. "The capex will primarily be required to build the subscription network across the country as we expand from 26 cities to 50, and eventually to 100 cities in the next three years," said Rakesh Kaul, managing director, Livpure.

Indian retail industry ranks fourth globally and accounts for more than 10% of India’s gross domestic product (GDP). Rising disposable incomes, rapid urbanisation, technological advancements, increased brand awareness, and improved shopping experience are significant growth drivers of the retail industry. Within this fast-paced industry, two players have captured the nation's attention with consistent growth in revenue and profits.

Reasons to BuyReasons to AvoidThe Prestige Iris Plus 750 W Mixer Grinder is a powerful kitchen appliance featuring a 750-watt motor. It includes four jars: three stainless steel jars (1.5L wet jar, 1L dry jar, and 300ml chutney jar) and a transparent juicer jar, all with super-efficient stainless steel blades. The grinder offers three-speed settings and comes with an ergonomic handle for easy use.

«It is good if this can come up and with a good network of ports and connectivity. We are there to meet that requirement if it comes up. Second, your question was on where do we buy our ships from? We buy our ships in the second-hand market. We do not issue equity as a company and we have strict balance sheet criteria with regard to how much debt we take,» says G Sivakumar, ED & CFO, GE Shipping. I want to talk about your recently sold that older MR product tanker and took delivery of comparatively younger MR product tanker as well. Tell me, what kind of efficiencies does it really bring on the table for you with regards to financials? Also, are you anticipating any further changes in your fleet? G Sivakumar: Yes, we have been doing these transactions now for the last nine months. We have already sold out four ships, which are among the older vessels, and we have replaced them with slightly more modern ships of the same kind. This is twofold.

Tata Motors on Wednesday said it has tied up with Delta Electronics India and Thunderplus Solutions to set up charging infrastructure for its range of electric commercial vehicles (CVs). As part of the MoU inked between the parties, 250 new fast-charging stations for electric commercial vehicles would be set up across the country. Strategically located in and around over 50 cities, including Delhi, Mumbai, Chennai, Bengaluru, Pune, and Kochi, among others, these new charging stations will significantly increase the existing network of 540 commercial vehicle charging points, Tata Motors said in a statement. Basis its understanding of the commercial EV movement, the commercial vehicle major will recommend optimal locations and nearest dealerships for setting up the fast-charging stations, the company said.

Starbucks has announced that Brian Niccol will be the new chairman and CEO, effective September 9, 2024. Niccol, who will succeed Laxman Narasimhan, will start his new role amid a significant leadership transition at the global coffee company. Narasimhan's departure, after just over a year as CEO, has set the stage for Niccol's high-profile appointment.

₹20,000 price range. However, with so many choices available, users often feel overwhelmed when searching for a budget gaming device.

Editor’s note (June 20th 2024): The Supreme Court has ruled in Moore v United States, upholding the tax at issue (the “mandatory repatriation tax"). The court declined to weigh in on the constitutionality of a tax on unrealised gains. What is income, really? Ask an economist and they might describe “Haig-Simons" income—the value of a person’s consumption of goods and services, plus the change in their net worth over a certain period. A lawyer might refer to Section 61(a) of the IRS Code 26, which defines “gross" income as “all income from whatever source derived", including but not limited to commission, interest, property deals and wages.

MK Surana, Former CMD, HPCL, says crude below $80 and the cracks at $13 for HSD and $11 for MS, make OMCs well placed on overall setup. Also, many of these OMCs are going on a new path. OMCs are in a stage where there is a growth potential with a surety of the existing cash. Of course, the overhangs on the pricing part continue to be there, the possibility or not possibility of some interventions. Pure EV play may take some more time and the hybrid may be more common in the near future to come and that augurs well for the OMCs. How do you see the outlook for oil marketing companies? On the one hand, Brent is continuously under check, under $80 now and on the other hand, these OMCs are transforming beyond just being distributors of traditional fuel as well. MK Surana: The stage looks good as of today because the crude is below the psychological mark of $80. The global demand weakness as per many of the agencies who forecast is getting moderated from all the three agencies who have been doing IEA, EIA, or OPEC. The Indian demand is good on the overall while the global demand is lower. People have started recognising the weaknesses in China's demand growing in the current phase.

«The Modi 1.0 and the 2.0 had such a strong emphasis around the infra space and so I think there was a lot of confidence that the government through a mix of disinvestment, divestment, professionalising these companies, getting in private sector honchos to head it, and would improve their performance and so that, I would say, in a way, helped these stocks,» says Sunil Subramaniam, Market Expert. You just heard it from our research analyst, the kind of valuations some of these fancy defence, railway names are sitting at, the kind of growth trajectory and more importantly of late the kind of stock fall some of these stocks have seen, both on a monthly as well as on a weekly basis. Having said that, I mean, if you were to just elongate the chart for another one or two years, perhaps, a 30% fall is negligible, given the kind of returns some of these stocks have made. So, what is the right way of looking at the recent fall that some of these names have seen? Sunil Subramaniam: I think for an existing investor who got in early into this space, it is good to book profits. And the reason I say that is that A) a huge valuation gap between the same private sector related companies and the public sector. So, there was a catch-up rally happening because historically, they have always been at a discount to the private sector.

Motorola, launched the Moto g45 5G in India on August 21. The budget smartphone, featuring the Qualcomm Snapdragon 6s Gen 3 chipset and a 5,000mAh battery, is priced at Rs 9,999, including all offers. It will be available for purchase on the company's official website, Flipkart, and select retail stores starting August 28. The Moto g45 5G is equipped with the Qualcomm Snapdragon 6s Gen 3 chipset and supports 13 5G bands. Operating on Android 14-based HelloUI, the device features a 5,000mAh battery and sports a 6.5-inch display with a 120Hz refresh rate, protected by Corning Gorilla Glass 3. The smartphone supports Dolby Atmos surround sound and Hi-Res audio. For photography, the Moto g45 5G features a dual-camera setup on the back, with a 50-megapixel primary sensor and a 2MP depth-sensing sensor. On the front, it has a 16MP camera sensor.

LTIMindtree Ltd. traded 0.18 per cent up at Rs 5718.35 at 01:34PM (IST) on Wednesday, even as BSE benchmark Sensex dropped 76.95 points to 80725.91. The scrip had closed at Rs 5707.95 in the previous session. The stock quoted a 52-week high price of Rs 6442.65 and 52-week low of Rs 4518.35, respectively. As per BSE data, total traded volume on the counter till 01:34PM (IST) stood at 21302 shares with a turnover of Rs 12.13 crore.