UPS Financial News

investors — Ashish Kacholia, Rekha Jhunjhunwala, Dolly Khanna, Vijay Kedia and Mukul Agrawal — have hit the jackpot in 2024 with at least 14 of their stocks giving multibagger returns this calendar year. Out of the five top guns of Dalal Street, at least 5 stocks of Kacholia have more than doubled wealth so far in 2024. Advait Infratech, in which the investor owned 2.67% stake at the end of the June quarter, is the biggest gainer in the pack with a massive return of 215% in 2024.

Zomato on Monday jumped 6% to hit a fresh 52-week high of Rs 280 on BSE after the global brokerage firm UBS raised the target price on the new-age stock from Rs 260 to Rs 320. «We increase our GMV estimates for food delivery (+2-3%) and quick commerce (+20-30%) for FY26-28e following the strong Q1 and solid guidance. Our adj EBITDA estimates for the next 1-2 years are up only slightly as investments in building supply for quick commerce will likely result in a more modest margin trajectory,» UBS said in a note while maintaining a buy call.

The ports of Los Angeles and Long Beach, which account for roughly a third of all US container imports, had their third-strongest month ever in July, just shy of an all-time high reached in May 2021. Back then, a wave of inbound consumer goods caused supply bottlenecks on land and a queue of cargo ships waiting for a berth offshore was getting longer by the day. Demand now is driven by retailers and other importers that are stocking up ahead of US tariffs on Chinese goods and a possible strike by a large group of American dockworkers — adding to the usual frenzy of pre-holiday ordering that occurs this time of year.

Samajwadi Party (SP) chief Akhilesh Yadav launched a scathing attack on the Centre over lateral entry into government jobs and said that this is a «big conspiracy» against the country. The SP MP alleged that the lateral entry is a plan to snatch away the reservation and rights from PDA (Pichhde, Dalit, and Alpsankhyak). «The time has come to launch a nationwide movement against the conspiracy being hatched by the BJP to place its ideological allies in high government positions through the back door in UPSC. This method will close the doors for today's officers as well as for the youth to reach higher positions in the present and future. Common people will be limited to the positions of clerks and peons. In fact, the whole plan is to snatch away reservations and rights from PDA,» the SP chief posted on X.

Anand Mahindra has once again struck a chord with netizens, this time by sharing a heartwarming video that perfectly captures the essence of relaxation. On his social media platform X (formerly Twitter), Mahindra shared a short clip of a baby completely immersed in a soothing forehead massage, declaring the child his «role model» for Sundays.

fuel has provoked no end of excitement. From the deserts of Australia and Namibia to the wind-blasted straits of Patagonia, companies and governments worldwide plan to build almost 1,600 plants to make it. The gas can be produced cleanly by using wind- or solar-powered electricity in a process that splits the molecule from water. There’s only one problem: The vast majority of those projects don’t have a single customer stepping up to buy the fuel. Among the handful with some kind of fuel purchase agreement, most have vague, nonbinding arrangements that can be quietly discarded if the potential buyers back out. As a result, many of the projects now touted with great fanfare by countries vying to become “the Saudi Arabia of hydrogen” will likely never get built. Just 12% of hydrogen plants considered low-carbon because they avoid natural gas or mitigate emissions have customers with agreements to use the fuel, according to BloombergNEF. The media could not be loaded, either because the server or network failed or because the format is not supported.

Biden addressed an adoring crowd at the Democratic National Convention in Denver, his smile radiating confidence about the country's future and his own journey. The soon-to-be vice president hugged his son Beau. He spoke about how his own parents had endowed him with a sense of grit and tenacity. «Champ, when you get knocked down, get up,» he recalled his father, Joe, saying. Biden then repeated the lesson taught to him by his mother, Catherine Eugenia Finnegan Biden, who was seated in the audience: «Failure at some point in your life is inevitable, but giving up is unforgivable.»

Mint looks at the reasons for this fall, its impact on the economy and what the domestic industry should do. The benchmark per tonne price of hot rolled coil steel—used in automotive, railways, agriculture and mining industries—in Mumbai has fallen to ₹50,900 this month, the lowest since September 2020 when prices were at ₹49,200 per tonne. The current price is nearly 33% less than the peak of ₹76,000 per tonne of April 2022.

board of AIA Engineering has approved a share buyback of Rs 500 crore at Rs 5,000 per share, a premium of nearly 10% over Friday’s closing price of Rs 4,553. August 20 has been set as the record date. “We wish to inform you that the Board of Directors of the Company, at its meeting held today, i.e., August 07, 2024, have, inter alia, approved the Buy-back of up to 10,00,000 (Ten Lakhs Only) fully paid-up Equity Shares of face value of ~ 2/- each by the Company (representing 1.06% of the total number of Equity Shares of the Company) at a price of ~ 5,000/- (Rupees Five Thousand) per Equity Share payable in cash for a total consideration not exceeding ~. 500,00,00,000/- (Rupees Five Hundred Crores only),” said the company in its filing to the exchanges.

carmakers pressure profit margins. India’s NSE Nifty Auto Index is down 4.1% in August, more than double the decline in the Nifty 50 Index. Bellwether Maruti Suzuki India Ltd. has slid 6% so far in the month, on track for its worst monthly performance since December 2022.

Motorola G45 5G is confirmed to feature a 6.5-inch display with up to 120Hz refresh rate and Corning Gorilla Glass 3 protection. It will also be paired with Dolby Atmos certification to enhance the audio listening experience.

₹305 crore. It should be noted that the company’s profit had grown at a CAGR of 33% over FY22-FY24. Interestingly, IRCTC is one of the few public sector stocks that is still quoting below its high of ₹1,279 apiece made on 19 October 2021 even as the S&P BSE PSU Index has more than doubled since then.

Buy or sell stocks for today: Following strong global market sentiments, the Indian stock market ended higher on Friday as ease in the US recession fear renewed the US Fed rate cut buzz. The Nifty 50 index finished 396 points north at the 24,540 mark, the BSE Sensex shot up 1,330 points and closed at 80,436, while the Bank Nifty index gained 788 points and ended at 50,515.

Why Kolkata is a big pull for the beauty market Listed player Honasa Consumer, which owns skincare brands Mamaearth and Aqualogica, launched Staze, an affordable, youth-focused colour cosmetics range earlier this year. Last year, A91 Partners-backed SUGAR launched SUGAR Play, targeting teens and pre-teens. Kaushik Mukherjee, co-founder and chief operating officer at SUGAR, told Mint, “With increased exposure to global fashion and beauty trends through social media and the internet, teenagers in India are becoming more conscious of their appearance and grooming.

Breakout stocks to buy today: Following strong global market sentiments, the Indian stock market ended higher on Friday as ease in the US recession fear renewed the US Fed rate cut buzz. The Nifty 50 index finished 396 points north at the 24,540 mark, the BSE Sensex shot up 1,330 points and closed at 80,436, while the Bank Nifty index gained 788 points and ended at 50,515. In the broad market, the BSE Small-cap index skyrocketed 1.70 per cent, whereas the Mid-cap index shot up 1.80 per cent during Friday deals.

About six years after Jammu and Kashmir last had a government, elections are set to restore the power to govern back to its people. On Friday, the Election Commission announced the poll schedule to be held in three phases from 18 September to 1 October.

Reserve Bank of India (RBI) on Friday barred P2P platforms from offering minimum returns, instant liquidity options and promoting P2P as an investment product. These platforms, which are supposed to bring together lenders and borrowers, are often found acting like deposit-takers and lenders, RBI said, in revised guidelines that take effect immediately. Individuals who lent on these platforms assuming they can get back their money anytime they want may be disappointed on Monday as the P2P firms and their fintech partners rush to comply with the circular, two senior P2P executives said on the condition of anonymity.

Sebi have resulted in higher, and more nuanced investigations. Sebi, along with the National Stock Exchange (NSE), has acknowledged an increase in retail participation in equity markets. Additionally, the regulator has also been raising concerns over the surge in retail participation in the derivatives (futures and options) market.

Mint earlier reported about Macquarie Group, JSW Neo Energy, and Actis Llp signing NDAs to buy O2 Power. Barclays is running the sale process for the deal having an equity and enterprise value of around $1 billion and $2.3 billion respectively. The next stage involves shortlisting the NBOs to give selected bidders full data room access, after which the binding bids will be submitted.

Also read | Mint Explainer: Hindenburg's latest salvo against the Sebi chief While the Nifty futures contract expiring on 29 August rose 0.75% to 24,585.5 in the week through 16 August, the AEL contract expiring on the same date fell 2.7% to ₹3,119.35 a share during the period. Adani Ports’ contract slipped 2.8% to ₹1,497.35.

Murugappa Group equally among three family groups that’s been over two years in the making has got stuck, said people with knowledge of the matter. The Murugappa Chettiar family had been negotiating an amicable split of the diversified business empire with over $9 billion in revenue in FY23 after five generations of working together over more than a century, they said. The much-celebrated turnaround of CG Power within four years of its takeover by group company Tube Investments of India (TII) has become a key bone of contention among different family groups that make up the promoter group. Shares of four Murugappa group companies, including Wendt India and Shanti Gears, yielded over a 50% return in CY23. But it’s the meteoric 15-fold jump in the share price of CG Power after the TII buyout that has grabbed the spotlight. Another standout has been the performance of Cholamandalam Investment and Finance Co. Ltd, the group’s principal financial services arm, a listed company with over Rs 1 lakh crore market value.