UPS Financial News

Vedanta Ltd. gained 0.94 per cent to Rs 426.7 at 10:15AM (IST) in Wednesday's trade. The scrip has hit a high of Rs 428.5 and low of Rs 421.35 so far during the session. The stock had closed at Rs 422.7 in the previous session. The counter has had a total traded volume of 236125 shares so far with a value of Rs 10.04 crore on the NSE. It traded at a price-to-earnings multiple of 31.99 and a price-to-book ratio of 3.29.

ICICI Lombard General Insurance Company Ltd. rose 1.44 per cent to Rs 1975.45 in Wednesday's trade. It hit an intraday high of Rs 1975.45 and low of Rs 1942.15, respectively, during the day. The stock quoted a 52-week high price of Rs 2032.0 and low of Rs 1266.0.

Sensex and Nifty opened marginally higher on Wednesday, tracking global peers, after softer U.S. producer prices data reinforced bets of an interest rate cut by the Federal Reserve in September. The BSE Sensex was trading 88 points, or 0.11%, higher at 79,042. The Nifty50 was up 27 points, or 0.11%, trading at 24,166 around 9:12 am.

mutual funds (MFs) and foreign institutional investors (FIIs) were seen pulling out money from at least 13 PSU stocks in the June quarter. Interestingly, small retail investors ended up buying all of them. Q1 shareholding pattern reveals that MFs sold stakes in 28 PSU stocks and FIIs were bearish on 30 such counters. Altogether there were 13 'sarkari' stocks sold by both the big boys of Dalal Street.

₹7,050 crore to ₹26,363 crore in the year through July, reflecting a significant increase in investor interest, said Feroze Azeez, deputy chief executive officer at Anand Rathi Wealth. “The best-performing fund in this category delivered around 80%, while the worst-performing fund achieved about 25%." “The rise in inflows and the launch of new funds—49 in total, with 9 introduced this year—indicates that this investment style has picked up considerable traction," said Azeez. Factor-based investing has been globally recognized since the 1960s as stock-pickers looked for traits that could deliver better risk-adjusted returns than traditional strategies.

listing gains snagged by SoftBank’s India portfolio firms Ola Electric, FirstCry and Unicommerce are the result of sensible initial public offering (IPO) pricing, favourable macroeconomic conditions and the growing acceptance of technology firms by the capital markets, said Sumer Juneja, managing partner for India and EMEA at SoftBank. In an interview to ET on Tuesday, he said that the active participation of domestic mutual funds has helped shore up demand for these public offerings. It’s not true that these new-age IPO are gaining only because of the continuing bull run in the stock markets, he added. The Masayoshi Son-led Japanese group’s cumulative holdings across the three recently listed companies stand at about $2 billion following their market debut. SoftBank had pumped $400 million into FirstCry, which listed at a premium of 40% to its issue price of Rs 465 per share.

IT firm Happiest Minds saw its banking financial services and insurance (BFSI) vertical’s contribution going up by 540 basis points, even as its US’ contribution coming down by 250 basis points in the just concluded quarter of this fiscal. One basis point is a hundredth of a percentage point. Acquisitions in the first quarter influenced both BFSI and US geography, said Executive Vice Chairman Joseph Anantharaju to ET on Tuesday. The IT firm, which announced its Q1 earnings Monday late night, acquired Aureus and PureSoftware in the first quarter of this fiscal. «Both these acquired firms are strong in financial services. While PureSoftware is focused more on banking and financial services, Aureus is on insurance», added Anantharaju.

Tendulkar is set for a new innings–off the pitch. The legendary cricketer is becoming an entrepreneur by launching a new sports athleisure brand jointly with former Swiggy Instamart head Karthik Gurumurthy, people aware of the development told ET. Fromer Swiggy executive Karan Arora is also joining as the third cofounder, they said. A holding company has already been registered for the venture. Early-stage venture fund Whiteboard Capital incubated the startup along with Tendulkar, sources said. Filings show Tendulkar and Whiteboard Capital are currently on the board of directors of the holding firm named SRT10 Athleisure Pvt Ltd.

tropical storm Debby battered southern Quebec on Friday, leaving a mess in its wake. It dumped record rainfall on Montreal — with an exceptional 173 millimetres on the town of Sainte-Anne-de-Bellevue, where Shattke lives.Schattke has his work cut out for him in the coming days. He tried to salvage what he could, but the flooding surrounded his books and his child’s toys.

iPhone manufacturing and domestic sales of MacBooks, iMacs, iPads, Watches and AirPods lifted the value of Apple’s India operations to over Rs 2 lakh crore ($23.5 billion) in FY24, top officials said, up from Rs 1.15 lakh crore in the year before. They told ET that Apple has likely exhibited the fastest growth in production and exports by any company in the last 50 years in India, making the Cupertino-based tech giant the largest global value chain (GVC) operating domestically. Apple is also the first GVC in India that is rapidly shifting in part of its supply chain from China. According to the recent Economic Survey, India contributes around 14% to the US tech giant’s overall production, emerging as a key hub for its global exports. In FY23, India’s contribution was about 7%. iPhones dominate the numbers. Of the Rs 2-lakh crore valuation, iPhones worth a market value of around Rs 1.35 lakh crore ($15 billion) were exported last fiscal year, show calculations based on official data.

Crypto All-Stars ($STARS) has raised over $330,000 within the first 48 hours of launching its presale.

Leading wealth tech provider Advyzon is looking to help RIAs take their high-net-worth and ultra-high-net-worth investment management services to the future with its latest partnership.

Google announced at its annual hardware launch event on Tuesday.The Pixel 9 series headlined the event, with four distinct models catering to a variety of preferences and needs.The base model, Pixel 9, arrives with a 6.3-inch Actua display offering a crisp 1080 x 2424 OLED resolution. It delivers a smooth user experience with a 120Hz refresh rate and impressive peak brightness of 2700 nits. Encased in Corning Gorilla Glass Victus 2, the Pixel 9 is both durable and sleek, boasting an IP68 rating for dust and water resistance.

Popular ERC-20 meme coin Shiba Inu ($SHIB) is underperforming relative to Bitcoin ($BTC) ($BTC) and Ethereum ($ETH) today as holders exit their positions in search of fresher investment opportunities.

Starbucks, struggling with weak demand and disgruntled investors, said Tuesday that CEO Laxman Narasimhan is stepping down after a little more than a year in the job.

Google Pixel Watch 3 was officially revealed, offering significant upgrades while maintaining the classic circular design that fans have come to appreciate. This time, Google has utilized recycled aluminum in the construction.

Michelle Gass, chief executive of Levi Strauss & Co, said the denim maker's global operations should take a cue from the Indian business in terms of keeping speed, agility and execution of its retail strategy in a market, crucial to achieving its $10-billion annual revenue target, up from about $6 billion currently. «Speed, decisiveness, agility, risk taking and making decisions, India does it really well. Every market has their own local product engine, but the bigger opportunity is operating like this speedy, agile retailer, and taking this culture of the Indian team and bringing that throughout the company is a great opportunity,» Gass told ET in an interview, adding that the Indian team is amongst the strongest it has globally. «This is one of the most dynamic, exciting markets I have been to, and there's so much happening. We have had strength in the market for some time, but they are constantly challenging themselves to be better and evolve and that's what's accelerating our growth here,» she said.

Final Destination 6: Bloodlines. Fans of the series can look forward to experiencing the latest installment on the big screen, including in IMAX theaters, as the film gears up for its 2025 release. This new chapter is set to celebrate the 25th anniversary of the original film, which introduced audiences to the relentless and chilling concept of Death’s inescapable plan.

Border Security Force committee has held 83 flag meetings with Border Guard Bangladesh (BGB) over the last three days. The two sides have conducted nearly 241 'simultaneous coordinating' patrolling in vulnerable areas, BSF said. The panel, constituted by the home ministry on Friday, was mandated to maintain communication channels with its Bangladesh counterpart to ensure safety and security of Indian nationals and minorities living there. According to BSF, the first meeting was held on Saturday. «In order to reach out to counterparts up to border outpost and company levels, both the border guarding forces have held around 83 flag meetings at various levels in the last three days,» BSF said. While appreciating BGB's role in preventing Bangladeshis from coming close to borders, BSF impressed upon BGB to protect Indians and minorities in Bangladesh.

Peloton Interactive to give its premium users access to the exercise equipment maker's fitness content, starting early September, the companies said on Tuesday. As part of the deal, Fitbit premium members based in the U.S., UK, Canada and Australia would have access to Peloton's classes across categories, including pilates, running, boxing and cycling. Peloton members, on the other hand, would receive offers on Google Pixel watches and Fitbit Charge 6 devices.