UPS Financial News

Info Edge (India) Ltd. traded 0.62 per cent down at Rs 6801.25 on Tuesday at around 01:29PM (IST), while the benchmark BSE Sensex advanced 110.3 points to 80775.16. As many as 2,733 shares changed hands on the counter with a total value of Rs 1.85 crore.

Union Budget 2024: In a bid to enhance passenger travel experience and facilitate faster speeds, thereby reducing travel time, Finance Minister Nirmala Sitharaman had announced in her interim budget speech earlier this year that 40,000 normal rail bogies will undergo conversion to Vande Bharat standards. This announcement marked a significant boost to India’s railway infrastructure, underscoring its pivotal role in the government’s capital expenditure agenda. The interim budget for fiscal 2024-25 allocated Rs 2.55 lakh crore to Indian Railways. Sitharaman, in her sixth budget speech, proposed a 5.8% increase over the budgetary estimate (BE) of Rs 2.41 lakh crore set for fiscal 2023-24. The revised estimates (RE) for fiscal 2023-24 stood at Rs 2.43 lakh crore, marking a notable commitment to bolstering the railway sector. Once again, this allocation in the interim budget represented the highest ever granted to the national transporter, reflecting the government's steadfast commitment to enhancing railway infrastructure and services across the country.

GAIL (India) Ltd. fell 0.78 per cent to Rs 235.25 in Tuesday's trade as of 01:44PM (IST) even as the benchmark Nifty ruled at 24621.55, up 34.85 points. The scrip had closed at Rs 237.1 in the previous session. The stock quoted a 52-week low of Rs 108.45 and a high of Rs 239.2. The company quoted a market-cap of Rs 154843.6 crore on the BSE.

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Mint dives into the updated details to understand what this means for startup founders in India. The rule mandates entrepreneurs to be either living abroad or already within the US. Spouses of these entrepreneurs could also apply for employment authorization after being paroled.

The failed assassination of Donald Trump has spurred a lot of questions and concerns since Saturday, one of the biggest being how the U.S. Secret Service could let something like this happen.

Ambuja Cements Ltd. traded 0.16 per cent up at Rs 685.05 at around 12:07PM (IST) on Tuesday. The stock had closed at Rs 683.9 in the previous session. Equity benchmark Sensex traded 152.7 points higher at 80817.56 around the same time.

Are you on the lookout for the “next big” meme coin? We will discuss one that can potentially be a banger in the upcoming 2 years.

Trent Ltd. slipped 0.23 per cent to Rs 5660.05 in Tuesday's trade as of 12:02PM (IST). The stock hit a high price of Rs 5726.95 and low of Rs 5660.05 during the session.

Cholamandalam Investment & Finance Company Ltd. traded 0.07 per cent up at Rs 1414.55 on Tuesday at around 12:23PM (IST), while the benchmark BSE Sensex advanced 135.87 points to 80800.73. As many as 4,934 shares changed hands on the counter with a total value of Rs 0.7 crore.

«So, the conclusion, a lot of investors have probably drawn from whatever they have observed in the last three years and that is the reality for them, is that you will always make money in the market,» says Sanjeev Prasad, Kotak Institutional Equities. The party continues. I guess this one line captures the market mood at all. The party continues. The point is, how long will it continue? Sanjeev Prasad: It will continue. Good for everybody, I guess. What do you want me to say on this thing? I mean, I am not a forecaster who can forecast where prices will go or where things will move. The job is to forecast value or rather I should say estimate value, not forecast prices.

Pidilite Industries Ltd. gained 0.02 per cent to Rs 3172.0 in Tuesday's trade. It hit a high of Rs 3191.85 and low of Rs 3147.35 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 2766.22, while the 50-DMA was at Rs 3065.96. 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.

Ashok Leyland Ltd. 0.0 per cent to Rs 228.15 in Tuesday's trade. It hit an intraday high of Rs 230.75 and low of Rs 228.05, respectively, during the day. The stock quoted a 52-week high price of Rs 245.6 and low of Rs 157.65.

Page Industries Ltd. rose 1.57 per cent to Rs 41184.6 in Tuesday's trade. It hit an intraday high of Rs 41325.0 and low of Rs 40374.0, respectively, during the day. The stock quoted a 52-week high price of Rs 42850.0 and low of Rs 33100.0.

The net profit for Q1FY25 stood at Rs 313 crore as against Rs 332 crore reported by the company in the corresponding period of the last financial year.

Bharat Forge Ltd. traded 1.48 per cent higher in Tuesday's session at 10:51AM (IST). The stock opened at Rs 1628.1 and has touched an intraday high and low of Rs 1660.0 and Rs 1628.1, respectively, during the session so far. The stock quoted a 52-week high of Rs 1826.2 and a 52-week low of 840.95. About 12,555 shares changed hands on the counter so far.

Colgate-Palmolive (India) Ltd. gained 0.47 per cent to Rs 3114.55 at 10:40AM (IST) in Tuesday's trade. The scrip has hit a high of Rs 3142.2 and low of Rs 3080.25 so far during the session. The stock had closed at Rs 3099.75 in the previous session. The counter has had a total traded volume of 6274 shares so far with a value of Rs 1.95 crore on the NSE. It traded at a price-to-earnings multiple of 64.12 and a price-to-book ratio of 27.81.

Muharram during which they raised pro-palestinian slogans. This traditional procession from Guru Bazar to Dalgate in Srinagar was banned from 1989, when people took up arms in the Valley, and the administration lifted the ban in 2023, after a series of meetings and conditions put before the community leaders. The administration had made elaborate security arrangements and deployed forces on the procession route to ensure an incident free program. The 4.5 kms long procession, as per the orders of the administration started at around 6am from Guru Bazar area and passed through the Maulana Azad Road before concluding peacefully at Dalgate. The mourners carried pro-palestinian flags, raised pro-palestinian slogans and wore black bands and palestinian badges on their arms and chests. The administration had directed the Shia community to take out the procession between 6 am and 8 am and ensure that no anti-national slogans were raised during the procession.

Sunteck Realty Ltd.(up 7.65 per cent), Brigade Enterprises Ltd.(up 4.32 per cent), Prestige Estates Projects Ltd.(up 3.98 per cent), Phoenix Mills Ltd.(up 1.72 per cent) and Godrej Properties Ltd.(up 1.66 per cent) were among the top gainers.

“Banks should provide liquidity to engineering industries, specifically MSMEs, for purchase of new machines, equipment and technology updates so that smaller engineering firms can produce world-class products, both in volume and at affordable prices to compete internationally,” says Arun Shukla, MD of Vikramaditya engineering, a Baddi-based MSME engineering company. He advocates increased government incentives to acquire capital goods and machinery; these are now imported, putting a significant burden on engineering firms’ working capital. “The finance minister should allocate substantial funds for industrial infrastructure for MSME the way China has done, for example, for common effluent plants, testing laboratories, logistic hubs, uninterrupted electricity, etc. Unnecessary statutory and regulatory compliance burden hurting productivity needs to go away. Also, labour reforms should be imposed strictly so that exploitation can be reduced. Product-wise MSME clusters should be announced. Collateral-free funding should be available at a low interest rate for development, automation, research & development and expansion purposes,” Shukla adds.

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