UPS Financial News

Apple's shares rose about 2% on Monday after Morgan Stanley raised its price target on the iPhone maker's shares and designated the stock as a «top pick,» citing the company's AI efforts as a boost to device sales. In what was seen as a move to catch up with Alphabet's Google and Microsoft-backed OpenAI, the iPad maker last month unveiled Apple Intelligence, luring customers to upgrade their devices to be able to use the new technology.

The NSE Nifty index closed 84.55 points up at 24586.7, while BSE Sensex ended up 145.52 points at 80664.86.

Amazon India on Monday unveiled the new deals' line-up for this Prime Day, scheduled on July 20 and 21. The shopping event begins at 12 AM on July 20 and continues till 11:59 PM on July 21. Prime members can enjoy discounts on smartphones, consumer electronics, TVs, appliances, fashion & beauty, home & kitchen, furniture, and more. At an event in Delhi on Monday, the company unveiled the products that would be up for sale from some 450 top Indian and global brands such as Intel, Samsung, OnePlus, Honor, HP, Asus, Titan, Hisense, Trident, Acer, Lenovo, American Tourister, Plantex, Oneplus, Ethos Group, Voltas, Fossil, Mokobara, HUL, ITC, P&G, Himalaya and more. It also saw several launches from small and medium businesses. Amazon Pay also said it would launch the fastest hotel and flight booking experience, with access to special prices on all flights and hotels, homestays, villas and more.

Varun Beverages Ltd, a franchise partner of PepsiCo, on Monday said its two subsidiaries plan to enter into an agreement with the multinational food and beverages major to manufacture, distribute and sell the snacks brand 'Simba Munchiez' in Zimbabwe and Zambia. The company plans to set up manufacturing units in Zimbabwe and Zambia entailing an investment of USD 7 million (around Rs 60 crore), according to a regulatory filing by Varun Beverages Ltd (VBL). Through its subsidiaries — VFZ Varun Foods (Zimbabwe) Pvt Ltd (VFZ) and Varun Beverages (Zambia) Ltd (VBZ), VBL has discussed with PepsiCo to further strengthen and expand the latter's footprint in the snacks portfolio. It has discussed with PepsiCo to enter into an exclusive snacks franchising appointment with Premier Nutrition Trading LLC, Dubai (a PepsiCo Inc. subsidiary) to manufacture, distribute and sell 'Simba Munchiez' in the territory of Zimbabwe and Zambia, the filing added.

Amazon Prime Day Sale 2024. We highly recommend you to go through the complete list of the smartphones, find the one that suits you the best and pre-order your favourite one for the best price and confirmation that it doesn’t get sold-out.

Benchmark NSE Nifty closed 84.55 points up at 24586.7 amid buying in frontline bluechip counters.

Shares of Bank of Baroda(up 3.18 per cent), Punjab National Bank(up 2.71 per cent), State Bank of India(up 2.52 per cent), Bandhan Bank Ltd.(up 1.42 per cent) and IndusInd Bank Ltd.(up 0.67 per cent) ended the day as top gainers in the pack.

Paradeep Phosphates Ltd.(up 2.40%), Rashtriya Chemicals & Fertilizers Ltd.(up 1.94%), Southern Petrochemicals Industries Corporation Ltd.(up 1.74%), National Fertilizers Ltd.(up 1.36%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.07%), Chambal Fertilisers & Chemicals Ltd.(up 0.55%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.20%) and Rama Phosphates Ltd.(up 0.10%) stood among the top gainers.

Nifty Bank rallied nearly 200 points on Monday but failed to close above the 52,500 level, which is a crucial resistance level for the index. It closed 177 points higher at 52,455 while the Nifty50 rose 84 points to close at 24,586.

India Power Corporation Ltd.(up 10.00%), NLC India Ltd.(up 6.69%), Karma Energy Ltd.(up 5.00%), KPI Green Energy Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), Indowind Energy Ltd.(up 4.99%), Reliance Power Ltd.(up 4.98%), Gujarat Industries Power Company Ltd.(up 4.15%), Energy Development Company Ltd.(up 2.94%) and Inox Wind Energy Ltd.(up 2.87%) stood among the top gainers.

On the BSE, Sheetal Cool(down 10.85 per cent), Reetech Intnl. Cargo (down 10.42 per cent), GE Power India (down 9.99 per cent), Ascensive Educare(down 9.98 per cent) and Suryo Foods Ind(down 9.98 per cent) stood among the top losers in today's trade.

Shares of MphasiS Ltd.(up 1.72 per cent) and HCL Technologies Ltd.(up 0.61 per cent) ended the day as top gainers in the pack.

Subject to regulatory approval, Gooden will also become co-portfolio manager of the Global Natural Resources fund alongside George Cheveley and Dawid Heyl, who have worked on the strategy since its 2008 inception. He is set to replace Tom Nelson, who is resigning from his portfolio management responsibilities to focus on his family business. However, he will remain at Ninety One in an advisory capacity. In his previous role at Fidelity, Gooden worked as an analyst and headed up the Global Energy and Global Clean Energy funds. Prior to that, he had a three-year stint at Citi, served as...

Supreme Court agreeing to consider a submission for setting up a constitution bench to hear pleas challenging the validity of passage of laws like the Aadhaar Act as money bills, and hoped a final verdict will come before CJI D Y Chandrachud retires in November this year. A bench comprising Chief Justice of India (CJI) Chandrachud and justices J B Pardiwala and Manoj Misra was urged by senior advocate Kapil Sibal, who also heads the Supreme Court Bar Association, that the pleadings are complete and the petitions needed to be listed for hearing. «I will take the call when I form the constitution benches,» the CJI said. In a post on X, Congress general secretary in-charge communications Jairam Ramesh said, «In the last ten years many Bills have been bulldozed through Parliament by having them declared 'Money Bills' under Article 110 of the Constitution. A good example of this is the Aadhar Act of 2016.» «I had challenged its declaration as a money bill in the Supreme Court, and in his dissenting judgment then the present CJI had called this declaration as a 'fraud on the Constitution'. I had challenged other instances as well,» Ramesh said.

HCL starts FY25 on a soft note; bumpy path ahead In the June quarter of FY25, a sharp year-on-year rise in employee costs and other expenses meant the Ebitda margin was flattish at 8.9%, erasing the gross margin gains. DMart said operating costs increased because of efforts to improve its service and build capabilities for the future. The company added six stores in the quarter, taking the total to 371.

Reasons to BuyReasons to AvoidThe SteelSeries Stratus Duo Wireless Gaming Controller is designed for Android, Windows, and VR gaming rigs. It offers dual-wireless connectivity, enabling seamless switching between 2.4GHz wireless for Windows and Steam, and Bluetooth for mobile gaming.

Budget expectations: Finance Minister Nirmala SItharaman will present the full Union budget after nearly a week. She presented an interim budget in February. Equity investors are keenly watching the budget for its impact on different sectors and stocks as well as for larger policy goals that impact the market in the long term. While the Budget is likely to set the priorities for the third five-year term of the Narendra Modi government, it is also likely to present a roadmap for the period up to 2047, the hundredth anniversary of India's independence, In her interim budget speech, she said, «In the full budget in July, our Government will present a detailed roadmap for our pursuit of ‘Viksit Bharat’.» The budget is expected to lay emphasis on infrastructure, manufacturing, fiscal discipline, creation of jobs and social spending as well as economic reforms. Below are the sectors which are expected to be the main themes in the budget.

JM Financial has initiated coverage on hospital stocks Fortis Healthcare, Max Healthcare and GPT Healthcare, as it sees an upside potential of up to 48.5%. The domestic brokerage firm has buy rating on Fortis and GPT with a target price of Rs 595 and Rs 245 respectively, while it has a hold rating on Max Healthcare with a target price of Rs 840.

Bank of Maharashtra (BoM) reported a 46.6% increase in its net profit to Rs 1,293 crore for the June quarter. The Pune-based lender had earned a net profit of Rs 882 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 6,769 crore, up from Rs 5,417 crore a year ago, according to a regulatory filing.

Kate Middleton, Princess of Wales, was all smiles Sunday as she attended the men’s singles final at Wimbledon, widely known to be one of the sporty princess’ favourite athletic events.

United States has tweaked the International Entrepreneur Rule in a bid to attract more foreign entrepreneurs. Under the updated guidelines, foreign entrepreneurs can now potentially stay in the US for up to five years, contingent upon their venture's public benefit. Initially granted for two-and-a-half years, extensions may be granted based on criteria like funding milestones and job creation. The International Entrepreneur Rule (IER), administered by the Department of Homeland Security (DHS), lets noncitizen entrepreneurs apply for authorized stay in the United States, known as «parole,» based on demonstrating significant public benefit through their business ventures. This allows them to work exclusively for their startup. Eligibility extends to the entrepreneur's spouse, but not their children, who may also be paroled.