UPS Financial News

Colgate ka to gate khul gaya, Nestle ka to panchhi urne wala hai, Pantene ka to pant gila hone wala hai, aur do saal me Unilever ka lever kharab ho jayega (Colgate’s gate has opened; Nestle’s bird [the Swiss company’s logo] has flown, Pantene’s pants are going to get wet, and in two years, Unilever’s lever will fail)." A month earlier, speaking to reporters in Bengaluru, he had said, “Colgate will be below Patanjali by this year (in terms of revenue), and in three years, we will overtake Unilever." Such was his confidence back then that Patanjali Ayurved, the company he had co-founded with Acharya Balkrishna, would send the multinational corporations (MNCs) that had lorded over India’s fast-moving consumer goods (FMCG) landscape for decades packing. In the end, however, the Patanjali founders failed in that endeavour as the MNCs took a leaf out of their ayurvedic playbook to beat them at their own game.

Supreme Court on Thursday sought a response from the Uttar Pradesh government on MLA Abbas Ansari's plea seeking bail in a case where he has been accused of threatening various people to extort money while using the mobile phone of his wife who used to visit him in Chitrakoot district jail where he was lodged. Ansari, an MLA from Mau assembly constituency, has moved the apex court challenging the May 1 order of the Lucknow bench of Allahabad High Court which had rejected his bail plea in the case.

Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is a central government scheme that offers income support to all landholding farmers' families in the nation to help them meet their needs for domestic needs as well as various inputs related to agriculture and related activities.

Adani Green Energy Ltd, the renewable energy arm of Adani Group reported a 95% increase in consolidated net profit for the quarter ended June 30, on the back of higher revenues led by capacity addition. Net profit came in at Rs 629 crore against Rs 323 crore reported in the first quarter of the last fiscal year.

The second season of one of the most awaited South Korean television series is all set for a grand premiere!

Adani Green Energy Ltd.(up 6.09%), GE Power India Ltd.(up 5.00%), RattanIndia Power Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), Power and Instrumentation(Gujarat)Ltd.(up 5.00%), Karma Energy Ltd.(up 4.99%), Reliance Power Ltd.(up 4.99%), Energy Development Company Ltd.(up 4.99%), GE T&D India Ltd.(up 4.83%) and Inox Wind Energy Ltd.(up 2.80%) stood among the top gainers.

According to Square Mile's quarterly Market Intelligence report, the WS Havelock Global Select fund accounted for 15.8% of views on its Academy of Funds depository. Havelock also took the top spot as the most viewed fund group, with a 10.4% share of the total number of views. Schroders came in second in this category at 9.7%, rising from a 4th place in the first quarter, followed by T. Rowe Price, which accounted for 8.5% of views, up 7.9% from the previous quarter. Liontrust was once again the most researched asset manager offering risk targeted strategies, with 21% of searches, foll...

Aviation Minister Ram Mohan Naidu Kinjarapu on Thursday promised to conduct an inquiry into allegations of abrupt fare hike when MPs try to book tickets on Air Vistara airline, following complaints by MPs and a nudge by Lok Sabha Speaker Om Birla. Raising the issue during Question Hour in Lok Sabha through a supplementary question, DMK member Dayanidhi Maran alleged that whenever he tries to book ticket on Air Vistara for the Chennai-Delhi route, initially it shows a price in the range of around Rs 25,000.

indexation benefit on property. Now, homeowners are required to pay a flat 12.5% long-term capital gain tax on the gain they make by selling the property. The new rule is one of the most significant budget proposals, especially for homeowners planning to sell their property. While the finance ministry claims that a majority of homeowners will be better off under the new rule, ET Wealth’s analysis paints a different picture and shows that some homeowners will even face a double blow. Here is a detailed analysis and also suggestions on how you can minimise the adverse impact.

Lok Sabha and Assembly constituencies based on the coming census, "One Nation, One Election" proposal and National Entrance cum Eligibility Test (NEET), amid protest by opposition parties. The resolutions were adopted separately by a voice vote, with BJP and JD(S) MLAs protesting from the well of the House demanding a discussion on the alleged fraudulent allotment of sites to land losers by Mysuru Urban Development Authority (MUDA), including to Chief Minister Siddaramaiah's wife Parvathi.

Sharks off the coast of Rio de Janeiro, Brazil, have been found with cocaine in their systems, as revealed by a study published in the Science of The Total Environment. Researchers from the Oswaldo Cruz Foundation discovered cocaine in the muscle and liver tissues of 13 Brazilian sharpnose sharks. This contamination is largely due to inadequate sewage treatment facilities and clandestine refining operations.

Agriculture sector provides livelihood support to about 42.3% of the population of India and has a share of 18.2 per cent in the country’s GDP at current prices. As a sector, it has been buoyant, which is made evident by the average annual growth rate of 4.18% at constant prices over the last five years. It, however, can't be denied that there are a host of difficult, entrenched issues, which have kept the sector from reaching the next level, where it can be among the economy's saviours.

Sanstar will debut on the exchanges on Friday. Ahead of the listing, the company's shares are trading with a GMP of Rs 30 in the unlisted market. Considering the upper price band of Rs 35, the stock is expected to list with a premium of 32%.

PG Electroplast zoomed 16% to its new all-time high of Rs 464.85 on BSE today after the company on Wednesday reported that its consolidated net profit rose 151.2% to Rs 84.93 crore for the June quarter. The same stood at Rs 33.81 crores in Q1FY24.

Mankind Pharma, India’s fourth largest pharma company by market share, is all set to acquire BSV Group, formerly Bharat Serum & Vaccines, from Advent International for around Rs 14,000 crore ($1.67 billion), people aware of the development told ET. Mankind will be trumping a rival bid from a consortium of EQT and Abu Dhabi Investment Authority (ADIA).

Max Healthcare Institute Ltd. traded 2.71 per cent up at Rs 921.9 at around 02:10PM (IST) on Thursday. The stock had closed at Rs 947.6 in the previous session. Equity benchmark Sensex traded 42.29 points lower at 80106.59 around the same time.

N Jayakumar, MD, Prime Securities, says “large swathes of India are okay that the people who are making more money are paying a little more and in some form or shape through the government is coming back to us. These may be socialistic streaks, but it is also a reality. There is a co-existence of the billionaires along with the looting of shops in San Francisco and in different parts of the US. The same is true in Europe as well. Social unrest is out on streets in many parts of the world and heavens forbid we have anything like that here.” Do you agree that more than the capital gains adjustment, it is the global cues that are going to be dictating to the Indian market as is the case this morning? N Jayakumar: And indeed that should be the case. All said and done, the budgets come and go. The roadmap has been re-emphasised and laid out again. If it means taking a little more from the people who are “making a lot of money,” which is through the markets, it is par for the course. I do not have an issue with that. Growth needs to be inclusive.

«So, if you see what we build up for the domestic business, the 5% volume growth and overall, the 9% top line growth for the company, but again the numbers are not pretty well for the company and also as I said earlier that the volatility in the raw material prices, especially in the cocoa and the coffee prices,» says Preeyam Tolia, Axis Securities. What is your first outlook coming in for Nestle India? The numbers they seem to be below estimates, at least for ET Now poll. Preeyam Tolia: Yes, the numbers are below our estimate as well in terms of the top line as well as on the margins front. So, please note that there is inflation in the raw material prices which has also impacted margins. At the same time, the volumes have not picked up as per the anticipation. So, the numbers are pretty weak for Q1.

Prior to the annual general meeting last month (20 June) the board unveiled plans for two tender offers, one of was performance-related. Both measures were for up to 15% of the issued share capital and the primary offer will run on a tender price equal to a 2% discount to the prevailing net asset value per share as at the calculation date, excluding the costs of implementing the tender offer. JPMorgan European Discovery unveils two tender offers This offer will be managed Cavendish Capital Markets Limited. The performance-based offer will only kick in if the company's net asset ...

Masayoshi Son has long prided himself on his ability to detect big shifts in technology early on. During his four decades leading SoftBank, a free-spending Japanese investment group, the billionaire has made some spectacularly successful investments. And some epic flops.

In Budget 2024, finance minister Nirmala Sitharaman announced a significant amendment regarding the treatment of rental income from residential property. Previously, individuals could report their rental income as business income, but this will now change. Rental income from residential property must be reported under the 'Income from House Property' category, as per Section 24 of the Income Tax Act.