UPS Financial News

SRF Ltd. gained 1.72 per cent to Rs 2530.4 in Wednesday's trade. It hit a high of Rs 2551.65 and low of Rs 2502.0 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 2394.56, while the 50-DMA was at Rs 2397.06. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

«Overall sense is that in the second half things are going to be a lot more better. So, these two companies is what we are liking within the results which have come out specifically,» says Pankaj Pandey, Head Research, ICICIdirect.com. Let us begin then by talking a little bit about what is happening within individual sectors and in particular real estate. We have been talking about the relief coming in with the amendments in the finance bill. How are you looking at this news for the sector? Pankaj Pandey: See, real estate as a sector looks quite attractive to us. And after a long period of time, we are seeing improvement in the overall numbers, broader number for sector.

Anurag Singh, Founder & Managing Partner, Ansid Capital, says fundamentals do not change like that. The unwinding of carry-trade has happened now. Hopefully, that is behind us. People will not again try and play smart on this, borrowing in yen and investing in US or global markets. What do you make of first the big global meltdown on Monday and the recovery thereafter? Anurag Singh: I will not pretend to act as if I saw this coming. I was also caught by surprise. I was traveling in the last couple of weeks and was not prepared for it. Well, all fingers point to the yen carry trade. Now, of course, everybody knows how that works and looks like that because it was a quick technical selloff.

A global market rout like the one on Monday is enough to make even the most Zen investors a little anxious about their money.

ONGC rallied 8% on Wednesday to its day’s high of Rs 329.50 despite the company reporting a 15% year-on-year (YoY) fall in its Q1 net profit at Rs 8,938 crore, which was below the ETNOW poll of Rs 9,539 crore. Revenue from operations in the same period increased 4% YoY to Rs 35,266 crore as against Rs 33,814 crore in the corresponding period of last year.

It’s not just Simone Biles — a number of gymnasts and coaches are speaking out about the “weird and awkward” atmosphere during the individual balance beam final at the Paris 2024 Olympics on Monday.

₹15 trillion was wiped out in a single day, even as the volatility index shot up 60%. Like Chaos Theory, at first it looked as if a little flap in the US over a fast-weakening jobs market—and hence recession risk—had triggered a market quake in Japan, with tremors felt everywhere else. The web of causes and effects that shook stock indices, however, isn’t all that hard to explain.

Following a tumultuous Crypto Black Monday, the Bitcoin price has shown signs of recovery, rebounding from a dramatic 18% fall over the last five days.

Mint has seen an email sent by Angel One to a client citing market volatility for virtually halting the facility. “Due to market volatility, there will be 100% margin for Margin Product effective 06-Aug-2024 till further notice to safeguard clients’ interest..." A company spokesperson declined to elaborate as the listed company is in a silent period until 9 August. MTF is an industrywide practice.

shockwaves through the market. India, while fundamentally strong, is not immune to these external headwinds. Earlier this quarter, Buffett had already offloaded stocks in Bank of America and BYD, boosting his cash reserves to $280 billion.

Indian expats, including those at the CXO level ,looking to relocate to India primarily from the US, UK and Canada over the last year, recruitment agency Randstad India told ET. However, Randstand did not quantify the size of the surge of Indian expat applicants. The manufacturing industry is expected to double in size over the next five years from employing around 2.5 to 3 million people to around 5 million by around 2030, Yeshab Giri, Chief Commercial Officer, Operational Talent Solutions at Randstad India, told ET. Government emphasis with big ticket incentives in addition to benefiting from the China plus one strategy has seen the electronics manufacturing sector in particular opening up more opportunities for these expats. The government boosters are seen aiding local manufacturing to get stronger.

Amazon Great Freedom Festival sale live now: Deals on electronics and appliances from top brands, up to 65% offLG 1.5 Ton 3 Star DUAL Inverter Split ACThe LG 1.5 Ton 3 Star DUAL Inverter Split AC is part of the Amazon Great Freedom Festival sale. This 2024 model features a copper compressor, AI convertible 6-in-1 cooling, and a 2-way swing for customizable comfort. Equipped with an HD filter and anti-virus protection, it ensures clean and healthy air.

Mumbai: Seven years after losing the tax edge that had made it India's second-biggest source of capital, Mauritius is eyeing a comeback, this time through the GIFT City route. The island nation's International Financial Centre (IFC) is considering opening an office in Gujarat International Finance Tec-City (GIFT City), a top Mauritius minister said. A large Mauritius delegation currently visiting India will meet officials of the International Financial Services Centres Authority (IFSCA) to discuss areas of collaboration, including equivalence between the two.

₹1.5 lakh per house for the economically weaker section (EWS) category. Currently, people with an annual income of ₹6-12 lakh are considered to be in the MIG-1 category and those with ₹12-18 lakh annual income are under MIG-2 category, under the housing scheme.

quick commerce and aggressive demand for newer direct-to-consumer (D2C) brands aided by speedy deliveries on platforms like Blinkit, Zepto and Instamart are fuelling dealmaking in early-to-mid-stage D2C brands, several executives and investors told ET. New brands have scaled much faster than anticipated due to the quick-commerce channel and that is attracting investor interest. Kids gift brand Tuco Intelligent is in talks to raise new capital from Fireside Ventures, while Peak XV Partners is likely to pick a stake in healthy bread maker The Health Factory, sources said. Gourmet Garden, a specialised organic fresh supplies brand, has started talks to raise around $10 million from a mix of investors.

component sub-assemblies that go into making a mobile device, a senior official told ET. This is part of a big upcoming incentive scheme to develop a local ecosystem for electronic components. Sops will be linked to a combination of production, capex and employment generation, given the government's renewed focus on job creation. «This will set the new template for the manufacturing sector,» said the official. China's value-add is currently in the range of 30%. India's target is to have 25-30% value add in about seven years, the official added.

Digital payments major PhonePe is looking to set up retail payment operations in new geographies, including Southeast Asia and the Gulf region, two people aware of the company's plan told ET. Places like Singapore, the Gulf region and some countries in Europe are on the agenda, but the plan is still in the early stage and implementation will be done slowly, they said. “The plan is to apply for a payment licence in these geographies and set up retail payment operations there,” said one person, requesting not to be named. «The expertise that the team has built scaling up business in India will be handy there and there is a large opportunity as payments get digitised in these places.»

US stock market today is up and running after days of volatility. Dow Jones Industrial Average finished up 0.8 percent at 38,997.66. The broad-based S&P 500 gained 1.0 percent to 5,240.03, while the tech-rich Nasdaq Composite Index also advanced 1.0 percent to 16,366.85. The Russell 2000 index of smaller companies rose 25.14 points, or 1.2 per cent, to 2,064.30. Wall Street stocks rebounded Tuesday after three straight days of losses, with analysts pointing to bargain hunting and US bond markets bouncing. The gains in New York also followed a quieter day in most overseas stock markets and came as Caterpillar and Uber reported solid earnings, lifting shares of both companies. Major indices fell more than 2.5 percent on Monday in a move seen as a reflection of worries about a US recession following Friday's disappointing jobs data.

BEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market.

Anthony Ammirati is right back into the headlines after landing a $250k salary job in an adult entertainment company, following his pole vault qualification round, where he missed out after his private parts touched the crossbar, and took him out of the competition.

The Starknet Foundation (SNF) is undergoing a major leadership transition. Diego Oliva, the Foundation’s first CEO since March 2023, will be stepping down after successfully establishing a robust team and structure.