UPS Financial News

Shree Cements Ltd. gained 0.81 per cent to Rs 27473.5 in Monday's session as of 11:16AM (IST) even as the equity benchmark Sensex traded 79.72 points lower at 80524.93. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 30710.15 and a 52-week low of Rs 23023.05 on NSE. Around 123 shares changed hands on the counter till 11:16AM (IST).

Persistent Systems Ltd. with a target price of Rs 5700. The current market price of Persistent Systems is Rs 4589.9. Persistent Systems Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 70608.05 Crore) operating in IT Software sector.

Bajaj Holdings & Investment Ltd. rose 1.88 per cent to Rs 9879.0 at 10:05AM hours (IST) on Monday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 1,106 shares with a turnover of Rs 1.08 crore till 10:05AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 15.13, while the price-to-book value ratio stood at 1.7.

Siemens Ltd. rose 1.92 per cent to Rs 6978.9 in Monday's trade. It hit an intraday high of Rs 6987.5 and low of Rs 6708.85, respectively, during the day. The stock quoted a 52-week high price of Rs 7974.25 and low of Rs 3248.0.

Polycab India with a target price of Rs 8200. The current market price of Polycab India Ltd. is Rs 6261.5. Polycab India Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 95469.26 Crore) operating in Consumer Durables sector.

Delhi traffic police have issued an advisory in preparation for the Kanwar Yatra, scheduled from July 22 to August 2, anticipating a significant influx of devotees in the national capital. According to the advisory, heavy traffic congestion is expected in various parts of Delhi, particularly in the eastern and western regions, as well as for commuters coming from Noida and Gurgaon. The Kanwariyas, who will pass through Delhi on their way to destinations in Haryana and Rajasthan, are expected to number between 1.5 to 2 million this year. To manage this large movement, traffic police have arranged for separate routes to minimise inconvenience for both local residents and devotees.

Benchmark NSE Nifty index rose 9.5 points to 24540.4 amid buying in frontline bluechip stocks.

Yogi Adityanath from some BJP leaders as well as NDA partners in the state have led to speculations that there may be a change of guard after the by-elections to ten vacant Vidhan Sabha seats are over. While any such move will come at a cost that the high command will have to factor-in, a reshuffle in the party’s organizational set-up appears more imminent. The contest between Yogi Adityanath and deputy CM Keshav Prasad Maurya, who has been vocal about his disenchantment and not hidden his ambitions, goes back to the 2017 Vidhan Sabha elections. A strong OBC leader and the then BJP unit president, Maurya played a key role in BJP’s impressive performance where it won 312 seats. He was naturally a contender for the CM post. Most of the candidates fielded by BJP were of his choice and hence backed him. BJP Chief Amit Shah decided to make Yogi Adityanath the CM, ostensibly keeping the 2019 Lok Sabha elections in mind. In the fight between Kamandal and Mandal, Hindutva usually trumps caste as religious polarization blurs the community differences. Maurya had to settle for the Deputy CM post and also share the post with Dinesh Sharma, a Brahmin leader.

ICICI Lombard General Insurance Company with a target price of Rs 2200. The current market price of ICICI Lombard General Insurance Company Ltd. is Rs 1900.75. ICICI Lombard General Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 92794.79 Crore) operating in Financial Services sector.

World Gold Council (WGC), many consumers have shifted from jewellery to gold bars and coins as the prices of the yellow metal have surged, making it a preferred asset class among investors. Seasonal factors and high prices have dampened the demand for gold jewellery. At the same time, anecdotal reports indicate persistent demand for bars and coins, indicating a likely shift from jewellery to bars and coins for some consumers. Moreover, there hasn’t been significant distress selling of gold or profit taking from gold sales that are being reported, as consumers anticipate further price increases, said Kavita Chacko, research head, India, WGC. The period from mid-May to July is typically a slack season for jewellery purchasing. A potential revival in demand is expected with the onset of the festival season in the latter part of Q3. The sustained momentum in the domestic economy, coupled with favourable progress in monsoons and crop sowing, has raised expectations of an uptick in demand (both rural and urban) in the coming months.

HDFC Bank with a target price of Rs 1850. The current market price of HDFC Bank Ltd. is Rs 1607.1. HDFC Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 1222853.50 Crore).

UltraTech Cement Ltd. with a target price of Rs 13000. The current market price of UltraTech Cement is Rs 11401.75. UltraTech Cement Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 325024.10 Crore) operating in Cement sector.

Union Bank of India with a target price of Rs 165. The current market price of Union Bank of India is Rs 136.3. Union Bank of India, incorporated in the year 1919, is a banking company (having a market cap of Rs 103549.86 Crore).

JSW Steel with a target price of Rs 1030. The current market price of JSW Steel Ltd. is Rs 884.4. JSW Steel Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 217510.90 Crore) operating in Metals — Ferrous sector.

JSW Infrastructure Ltd, India’s second-largest port operator, is considering building green hydrogen and ammonia plants at its ports to diversify into this potential growth market. “This is a new age business that is emerging. We have been contemplating and exploring opportunities in this sector,” Arun Maheshwari, joint managing director told ET. “We’ve been approached by companies interested in the green hydrogen and ammonia segment, and we are evaluating the potential to enter this market as well,” he added.

Abhay Agarwal, MD & CIO, Piper Serica, says that in markets like this, it is very difficult to analyse momentum because segments of the market are in a frothy zone – stocks that have gone up 10 times. All stocks in sectors like railways, defence, and power are at 5 times, 10 times. So, it is difficult to stay with the momentum. It is a very risky bet. Agarwal says: “We like to explore sectors that have not done well and are not on investors’ radar for the time being.” What spooked the markets on Friday? Is this just par for the course and are we headed for that 25,000-26,000 level soon? Abhay Agarwal: I have not read too much about this weakness over the last couple of days, including today. This will continue till the Budget announcement. It is a big event. We are very close to it. So, traders are probably lightweighting their long positions and booking profits.

budget should arm the central bank with a time-tested tool to deal with a potential surge in bond flows on the nation’s entry into a key global index, according to the nation’s largest asset manager. “Rather than selling long bonds from their book and distorting the market, you can issue short-term government securities,” Rajeev Radhakrishnan, chief investment officer for fixed income at SBI Funds Management Ltd., said in an interview. “The market stabilization scheme is the right tool to have and at some point, at least in this budget, they should have that.”

IDBI Bank, Suzlon Energy, RIL, HDFC Bank, Kotak Bank, JSW Steel among others will be in focus due to news developments and quarterly results. IDBI Bank, Suzlon Energy

boring technology’ in a blog post that gained popularity in the tech industry. The core idea is that while building systems or making technological choices, it’s often better to opt for well-established, proven technologies, rather than chasing the latest, trendiest options. A key element of McKinley’s essay is the idea of ‘innovation tokens’, which he describes as a limited resource that organisations should spend wisely. In the context of technology choices, McKinley suggests that companies have a finite capacity for innovation and should, therefore, be selective about where they decide to be cutting-edge. If a company uses up some of its innovation tokens in trying out a glamorous new technology that is not tried and tested widely, it will have fewer resources left for innovation in its business domain and in serving its customers. As McKinley puts it, “If you think about innovation as a scarce resource, it starts to make less sense to also be on the front lines of innovating on databases. Or on programming paradigms. The point isn’t that these things can’t work. Of course, they can work. There are many examples of them actually working. But software that’s been around longer tends to need less care and feeding than software that just came out.”

Mutual Fund. Meanwhile, investors in struggling funds have voted with their feet. In the large-cap segment, just two funds accounted for 75% of the outflows.

₹11.11 trillion. This may be increased slightly given the increased focus by the infrastructure-related ministries, the person added. "If the intention was to go with different numbers, more liberal numbers would have been presented in the interim budget," added the second person.