UPS Financial News

₹14,999. Continuing the trend of its predecessors, the Poco M6 Plus is anticipated to offer a robust set of specifications at a mid-range price point.The Poco M6 Plus 5G is expected to support dual SIM functionality, with Nano SIM slots and a hybrid slot for additional storage. The phone is slated for release on August 1, 2024, and is projected to have dimensions of 168.6 x 76.3 x 8.2 mm, making it comfortable to hold and use.The smartphone is likely to feature a 6.79-inch LCD screen capable of displaying 16 million colors.

ICICI Bank is expected to report a net profit for the quarter ended June 30, 2024 in the range of Rs 10,441 crore — Rs 10,876 crore according to the estimates by four brokerages. The growth in April-June quarter profit after tax (PAT) could be between 8.1% and 12.7% on the year-on-year basis. The net interest income (NII) for the reporting quarter is seen in the range of Rs 19,253 crore to Rs 19,700 crore which translates into an uptick of 5.2%-8% on the YoY basis.

IndusInd Bank on Friday reported a consolidated profit after tax (PAT) of Rs 2,171 crore for the quarter ended June 30, 2024, which was up by 2% over Rs 2,124 crore reported by the lender in the year-ago period. The net interest income (NII) grew by 11% YoY to Rs 5,408 crore from Rs 4,867 crore in the year-ago period.

Agniveers will be granted reservation in government jobs in Uttarakhand upon their return after serving in the armed forces, Chief Minister Pushkar Singh Dhami announced on Friday, as the nation observed the 25th anniversary of the Kargil Vijay Diwas. Addressing a programme here to pay tributes to the armed forces personnel who fought valiantly in extremely harsh conditions to defend the nation's territory during the Kargil war in 1999, Dhami said legislation will be brought to extend the reservation.

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Crompton Greaves Consumer Electricals Ltd. rose 1.29 per cent to Rs 441.35 in Friday's trade. It hit an intraday high of Rs 451.05 and low of Rs 436.7, respectively, during the day. The stock quoted a 52-week high price of Rs 451.05 and low of Rs 262.1.

Standard Glass Lining Technology Limited on Friday said it has filed a Draft Red Herring Prospectus (DRHP) with the capital markets regulator Securities Exchange Board of India (SEBI) to raise Rs 600 crore through an initial public offer (IPO). The city-based firm in the DRHP said the public issue comprises a fresh issue of shares with a face value of Rs 10, aggregating up to Rs 250 crore and an offer for sale of 18.444 million shares of Rs 10 each, aggregating up to Rs 350 core.

Vedanta's board of directors on Friday approved second interim dividend of Rs 4 per share for the Financial Year 2024-25. The total payout will amount to Rs 1,564 crore. The dividend was approved by its board in a meeting held today and the company announced about the development during market hours. The company's shares were trading at Rs 442.95 on the NSE around 3 pm, up by Rs 12.05 or 2.80% over the Thursday's closing price.

IDBI bank moves ahead, the Divestment Secretary Tuhin Kanta Pandey on Friday declared that the Indian government will allow bidders to access private data of the bank by early August. The secretary also said the Reserve Bank of India has indicated completion of its «fit and proper» vetting of potential bidders of IDBI Bank, Reuters reported.

Instant loan apps have changed the way people get loans. They have made it far quicker and easier. Digital loans refer to financial credit that is applied for, processed, approved, and disbursed entirely through online platforms or mobile apps without the need for physical paperwork or in-person interactions. Amid wide ranging concerns about digital lending, an industry body has said its 37 member entities witnessed a 49 per cent surge in disbursements at Rs 1.46 lakh crore in financial year 2023-24. According to Fintech Association for Consumer Empowerment (FACE), the number of loans disbursed grew by 35 per cent to over 10 crore borrowings in FY24.

MUMBAI : Nestlé India Ltd’s shares have dropped by about 3% since its June quarter (Q1FY25) results were announced on Thursday. The numbers mark a substantial slowdown in growth of the packaged foods company with revenue increasing by a mere 3.3% year-on-year. This is the lowest print since the Maggi crisis in 2015 (excluding the June 2020 Covid quarter), said analysts from Kotak Institutional Equities.

Varun Beverages on Thursday announced that its board will be considering a stock split in its upcoming board meeting on July 30. Following this, the shares of the company rallied 2% to its fresh all-time of Rs 1,680.80. “the Board of Directors of the Company will be held on Tuesday, July 30, 2024 inter-alia, to consider and approve the Following: Proposal for sub-division/split of existing Equity Shares of the Company having a face value of Rs. 5/- each, fully paid up, in such manner as may be determined by the Board of Directors subject to the approval of Equity Shareholders of the Company and other applicable approval(s) (if any),” said the company in its filing to the exchanges.

Nirmala Sitharaman who presented the Union Budget recently asserted that she can make savings easier for those residing in rural areas through rate rationalisation.

X falsely claimed she was «ineligible» to run for office because her parents were not born in the United States.

Realty major DLF plans to launch nearly 37 million square feet area for sale in the medium term across various cities with revenue potential of Rs 1.04 lakh crore as part of its strategy to encash strong demand for luxury homes. In its latest investor presentation for the April-June quarter, DLF informed about the «planned launches of Rs 1+ lakh crore (36 million square feet) of new products over the medium term».

Raamdeo Agrawal, Chairman & Co-founder, Motilal Oswal Group, says he doesn’t think Nifty is expensive at all. 20-21 times for the India story is not out of line. The economy should pick up as we go forward. Monsoon has been fierce and that will have a very good effect in the second half, in the festival season and hopefully the interest rates will also come down somewhat, at least 50 basis point in next six months. On corporate earnings, Motilal Oswal research department is saying that next year it will be at least 14-15% Nifty EPS. From Rs 1,000 EPS in 2024, it could be Rs 1,130. Agrawal also says FIIs will be back. Maybe not in a big way, but they will be net-net positive going forward. Then there will be a lot more capital market activity in terms of I-Banking, wealth management and those sectors will rocket. It is a kind of revolution in capital market and it feel like what happened in IT in the late 1990s – 1997, 1998, 2000. It has changed the entire country. Capital market industry could be even bigger than that.

Supreme Court on Friday continued its interim order of staying directives issued by authorities of certain State governments that eateries along the Kanwar Yatra route should display the names of the owners outside such shops.

Jubilant Foodworks Ltd. fell 0.02 per cent to Rs 578.0 in Friday's trade as of 01:03PM (IST) even as the benchmark Nifty ruled at 24728.65, up 322.56 points. The scrip had closed at Rs 578.15 in the previous session. The stock quoted a 52-week low of Rs 420.85 and a high of Rs 593.7. The company quoted a market-cap of Rs 38188.54 crore on the BSE.

Coinbase has added three new members to its board of directors, including an executive from ChatGPT-maker OpenAI, as the company steps up its efforts to sway U.S. crypto policy, Coinbase told Reuters on Thursday.

Tata Elxsi Ltd. rose 1.18 per cent to Rs 6947.8 in Friday's trade. It hit an intraday high of Rs 6959.25 and low of Rs 6866.3, respectively, during the day. The stock quoted a 52-week high price of Rs 9191.1 and low of Rs 6406.6.

Shree Cements Ltd. traded at Rs 27622.95 on BSE at 01:08PM (IST) on Friday, up 0.51 per cent from previous close. The scrip quoted a 52-week low price of Rs 23431.9 and a high of Rs 30710.15.