UPS Financial News

Indian banks, grappling with a deepening deposit crunch even after offering higher interest rates in some categories to lure the savings of customers, appear to be resigned to a new normal. With credit growth outpacing deposit growth despite higher interest rates, and a structural shift in the savings habits of customers - who now prefer higher-yielding investments - the proportion of current and savings account (CASA) deposits at banks has shrunk, a situation that may persist for some time.

Ceigall India opened on Thursday, the issue was booked 29% so far on the first day of the bidding process. The highest demand was driven by the employees, which was booked 1.35 times, followed by the retail investors, whose category was booked 43%. The non-institutional category was subscribed by 35%, while the part reserved for QIB investors was not booked so far.

Students Against Discrimination staged nationwide rallies last month that ended in a police crackdown and the deaths of at least 206 people, according to an AFP count of police and hospital data. The group's leadership were among thousands picked up in the police dragnet that followed some of the worst unrest of Prime Minister Sheikh Hasina's 15-year tenure.

Puravankara Limited recorded a net profit of Rs 15 crore for the first quarter of FY2025 as compared to a loss of Rs 17 crore during the same period last year. The revenue for the first quarter ending June 30, 2024 stood at Rs 676 crore a 101 percentage growth Y-o-Y with an EBITDA at Rs 148 crores, a 96% y-oy increase. The company achieved a quarterly sales value marginally increase of 0.17 percent to Rs 1,128 crore for Q1FY25 as the planned launches were deferred to Q2FY25.

feud brewing in the Allu-Konidela family? Actress Niharika Konidela recently opened up on a rumoured spat with her cousin, ‘Pushpa’ star Allu Arjun. The rumors started during the Andhra Pradesh Assembly Elections earlier this year when Allu Arjun backed YSRCP candidate Silpa Ravi Reddy instead of his uncle, Deputy CM Pawan Kalyan, who was also a candidate. Speculations of a possible falling out began doing rounds during the Andhra Pradesh Assembly Elections earlier this year when Allu Arjun backed YSRCP candidate Silpa Ravi Reddy instead of his uncle, Deputy CM Pawan Kalyan, who was also a candidate.

Paras Healthcare, the Delhi NCR-based hospital chain has filed Draft Red Herring Prospectus (DRHP) with SEBI for ₹700 crore — ₹900 crore Initial Public Offering (IPO). The IPO comprises of a fresh issue of equity shares of up to ₹400 crores and an offer for sale (OFS) of up to 14,974,010 equity shares with face value of ₹1 each equity share.

In its half-year results published today (1 August), the FTSE 100 firm reported AUM including joint ventures and associates was up 6.1% from the same period last year to £773.7bn. This was driven by an £18.3bn contribution from markets, FX and investment performance, as well as £3.9bn net new business. Excluding JVs and associates, AUM was £657.3bn, with net outflows of £3.9bn. The firm's wealth management business brought in £3.7bn net new business, while £3bn net inflows into private markets failed to offset the £7.6bn net outflows of its asset management division. Schroders eyes...

News executives were worried for the first half of the year about consumers expressing relatively little interest in the coming election

Punjab National Bank on Thursday raised the marginal cost of funds-based lending rate (MCLR) by 0.05 per cent, or 5 basis points, across tenors, making most of the consumer loans costlier.

Adani Power Ltd. gained 1.29 per cent to Rs 744.0 at 01:50PM (IST) in Thursday's trade. The stock has hit a high of Rs 752.15 and low of Rs 715.3 so far during the session. The stock had closed at Rs 734.5 in the previous session. The counter has had a total traded volume of 1436277 shares so far with a value of Rs 104.7 crore on the NSE. It traded at a price-to-earnings multiple of 17.91 and a price-to-book ratio of 5.78.

Non-institutional investors drove the strong demand with a subscription of 22.8 times, followed by retail investors, whose category was booked 13.8 times. The part reserved for QIB investors was booked the least at 2.4 times.

Tube Investments of India Ltd. traded 0.51 per cent down in Thursday's trade at 12:43PM (IST). Around 2,221 shares changed hands on the counter. The stock opened at Rs 4160.75 and touched an intraday high and low of Rs 4166.55 and Rs 4115.0, respectively, in the session so far. Shares of the company of Tube Investments of India Ltd. quoted a 52-week high of Rs 4666.0 and a 52-week low of Rs 2729.1.

Warehouse space take up during H1 2024 witnessed an absorption of 16.6 Mn sq ft, an increase of 8% over the same period a year ago.

Avenue Supermarts Ltd. traded 0.27 per cent lower in Thursday's session at 12:33PM (IST). The stock opened at Rs 4937.65 and has touched an intraday high and low of Rs 4974.45 and Rs 4881.95, respectively, during the session so far. The stock quoted a 52-week high of Rs 5220.0 and a 52-week low of 3493.05. About 10,071 shares changed hands on the counter so far.

Wednesday brought two important monetary-policy meetings, and the more important one probably wasn’t the Federal Open Market Committee gathering in Washington (see nearby). The Bank of Japan announced significant new steps on its slow and not entirely steady path to monetary normalization in an effort to shore up the yen. The Japanese central bank raised its target short-term interest rate to 0.25% from 0.1%.

ICICI Lombard General Insurance Company Ltd. traded 0.67 per cent up at Rs 1998.95 at around 12:38PM (IST) on Thursday. The stock had closed at Rs 2012.6 in the previous session. Equity benchmark Sensex traded 1.35 points higher at 81742.69 around the same time.

Rubicon Research has filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for ₹1085 crore initial public offer (IPO). The company’s IPO comprises a fresh issue of up to ₹500 crore and an offer for sale of up to ₹ 585 crore by the promoter selling shareholder, General Atlantic Singapore RR Pte Limited.

The state of Uttar Pradesh is deceptively large. Working-age women (20-59 years) in the state—about 57 million in 2021—outnumber the entire population of countries like Canada, Australia, Malaysia, and South Korea. The state has more women aged 20-29 than the combined population of Norway, Finland and Denmark.

Mark Matthews, MD, Julius Baer, says he wishes there would be a pullback in the Indian market. It is becoming overvalued. Matthews further says that there does seem to be some sectoral rotation going on. In India, the growth is the opposite of what it is in the US. In the US, value is smallcaps and growth is big caps and in India, it is the other way around. I think there are a lot of emerging sectors in India that are small now but will be big sectors in the future like hospitality, defence which are in the midcap space and I would say those are the growth areas that long-term one would do well to be in. Everything is moving on expected lines and I look at the market from the prism of the US Fed. The US Fed pretty much has said what everybody was expecting, growth is decent and rate cuts will start. Mark Matthews: I did not expect them to be so overt in telling us there will be a rate cut in September. They did not need to because the market is already pricing one in. I felt that was interesting. There was no urgency in the statement or Jerome Powell's comments to the press but the most interesting thing is there was a sentence in the statement for two years saying that inflation was the most important criterion and that was replaced with the dual mandate of inflation, but also employment.

Tata Group companyAutomobile Corp of Goa was a standout performer in the fourth quarter of FY24, with profit growth of 41% driven by 25% sales growth. Market participants were tracking the company and how it would perform in the following quarter, and it did not disappoint. The auto ancillary company posted robust growth In the first quarter of FY25, causing its stock to hit an all-time high of ₹2,861 on the BSE on 31 July.

₹30,000 in August 2024: With the launch of Nothing Phone 2a Plus, the competition in the sub- ₹30,000 price segment has got even more intense. Here's a look at the top 5 options one can consider while purchasing a smartphone in the sub- ₹30,000 price bracket.