UPS Financial News

Ugar Sugar Works Ltd.(up 1.44%) and Vishwaraj Sugar Industries Ltd.(up 0.68%) stood among the top gainers.

DOMS Industries Ltd. with a target price of Rs 2620. The current market price of DOMS Industries Ltd. is Rs 2274.25 . DOMS Industries Ltd., incorporated in the year 2006, is a Small Cap company (having a market cap of Rs 13958.06 Crore) operating in Paper sector.

Ola Electric Mobility on Wednesday reported a consolidated net loss of Rs 347 crore for the quarter ended June 30, 2024, which was up from Rs 267 crore reported by the EV two-wheeler maker in the year-ago period. The revenue from operations for the quarter stood at Rs 1,644 crore, which was up by 32.3% from Rs 1,243 crore reported in the corresponding quarter of the previous financial year.

Vikas Khemani, Founder, Carnelian Asset Management, says in the last 10 years, we have seen a remarkable shift in the accountability and governance and the execution of the PSEs and that has made many of these public sector enterprises very valuable. Banks are moving towards 16-17% ROE profiles. All public sector units in defence are doing very well with the new refound growth sector. All PSUs except probably oil and marketing, still have a bit of a struggle. That is also picking up, but whether it is gas or any other, the PSUs are being run reasonably well. While BSNL is still facing challenges, we have seen a remarkable shift happening in the railway operation.

The big divide in America is not so much between Republicans and Democrats as between people who invest and people who don’t. For a man of his means who is running for America’s second-highest office, Tim Walz is on the wrong side. In 2022, 58% of Americans owned stock, either directly or indirectly through mutual funds.

Mint analysis of 1,475 BSE-listed companies that reported their financial results by Friday showed a 9% year-on-year increase in their combined revenue and a more modest 5% rise in net profit. While revenue growth was still one of the best in a year, the string of consistent sub-10% figures in this period could keep India Inc. tense.

IMD. Delhi has experienced light to moderate rainfall across various parts this week. According to IMD data, Safdarjung had accumulated 220.8 mm of rainfall in August by Tuesday evening, approaching the monthly average of 233.1 mm. The current weather patterns include a monsoon trough near its usual position and a cyclonic circulation over northeast Rajasthan extending up to mid-tropospheric levels. This system, along with another cyclonic circulation over southeast Pakistan and adjoining Rajasthan, is contributing to rainfall in northwest India.

New York Post, Captain Ruud Van Pangemanan, a seasoned pilot, captured footage of unidentified flying objects (UFOs) performing extraordinary maneuvers in the sky. The UFOs displayed rapid movements and sharp turns, baffling the aviation community.

Prataap Snacks Ltd.(up 5.75%), Sheetal Cool Products Ltd.(up 3.80%), LT Foods Ltd.(up 3.00%), Hindustan Foods Ltd.(up 2.36%), Bajaj Consumer Care Ltd.(up 2.30%), Mrs. Bectors Food Specialities Ltd.(up 1.83%), Heritage Foods Ltd.(up 1.53%), Honasa Consumer Ltd.(up 1.09%), Gillette India Ltd.(up 0.99%) and Colgate-Palmolive(India)Ltd.(up 0.33%) stood among the top gainers.

Shriram Finance Ltd. traded at Rs 2910.0 on BSE at 12:58PM (IST) on Wednesday, up 0.59 per cent from previous close. The scrip quoted a 52-week low price of Rs 1759.2 and a high of Rs 3058.95.

Hindustan Zinc's board of directors will meet on Tuesday, August 20, 2024 to consider and approve the second interim dividend on its equity shares for the Financial Year 2024-25. The Vedanta Group company has set the record date on Wednesday, August 28, 2024.

Funders’ requirements have eroded the authenticity and rigour of India’s NGO sector, making them more ‘fake and flaky.’ I described this phenomenon in my last column; in this piece, I will explore one of its aspects in greater detail. Which is the push for scale—the demand by funders for greater numbers, be it in terms of geographical coverage or the count of beneficiaries. Everyone wants more people to benefit— not just funders, but also NGOs, other stakeholders involved and communities.

rupee ended nearly flat on Wednesday as U.S. dollar demand from importers and foreign banks eroded the currency's early gains that came due to growing expectations of rate cuts by the Federal Reserve. The rupee closed at 83.9475 against the dollar, little changed from its close at 83.97 in the previous session.

Technocraft Industries announced a Rs 130 crore share buyback at a price of Rs 4,500 on Tuesday. The record date for this buyback has been set for August 27. Following the announcement, the company’s shares surged by 10% to a day's high of Rs 3,616 on the BSE today. The buyback price represents a premium of nearly 38% over Tuesday’s closing price and will be conducted through a tender offer route.

Millennials are now wealthier than previous generations were at their age. They can’t believe it either.

Tata Elxsi Ltd. gained 0.27 per cent to Rs 6807.15 in Wednesday's session as of 12:07PM (IST) even as the equity benchmark Sensex traded 164.96 points higher at 79120.99. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 9191.1 and a 52-week low of Rs 6406.6 on NSE. Around 1466 shares changed hands on the counter till 12:07PM (IST).

The largest contribution to the headline inflation figure came from gas and electricity prices, as they fell less than they did a year ago, while the largest contribution came from restaurants and hotels, where prices fell. Economists polled by Reuters had expected a headline inflation rise to 2.3%. Core inflation fell from 3.5% in June to 3.3% in July, alongside services inflation which dropped sharply to 5.2% from 5.7% the previous month.  Jeremy Batstone-Carr, European strategist at Raymond James Investment Services, noted that the recent uptick in inflation was «mechanistic» as it...

Saraswati Saree Depot is getting robust response from investors as the issue was subscribed nearly 47 times so far on the third day of the bidding process. The issue will close on Wednesday. The category reserved for non-institutional investors was subscribed the most at 201 times, followed by retail investors at 41 times and qualified institutional buyers (QIB) at 4.21 times.

Gensol Engineering and Matrix Gas & Renewables has bagged a 237 MW electrolyser manufacturing plant project, a statement said on Wednesday. The project was secured through a competitive bidding process invited by Solar Energy Corporation of India (SECI), Gensol Engineering said, adding that the project will be set up as part of the government's production linked incentive (PLI). «Gensol Engineering in collaboration with Matrix Gas & Renewables announced that it has emerged as a winning bidder for 237 MW annual capacity under the PLI scheme for setting up electrolyser manufacturing plant,» it said. With the latest win, the Gensol-Matrix consortium has secured a cumulative 300 MW capacity, including a 63 MW project awarded earlier in an SECI tender.

Hindustan Aeronautics Ltd (HAL) reported a consolidated net profit of Rs 1,437 crore for the first quarter ended June 2024, marking a 77% increase from Rs 814 crore reported in the same quarter last year. Revenue from operations during the same period increased 11% year-on-year (YoY) to Rs 4,347 crore against Rs 3,915 crore in the corresponding period of last year.

As we celebrate Independence Day, let’s look back at the distance we have traversed in 77 years. This was India in 1947: Life expectancy was 32 years. Literacy was 18%.