UPS Financial News

Marko Kolanovic has had a 19-year career at JPMorgan predicting movements in global markets, and during that career he's got many things right. More recently, though, he's got quite a few things wrong. Kolanovic's apparently involuntary exit today from his job as chief global market strategist, and his replacement by his junior, is a sharp reminder that if MDs don't jump the hoops, they will be out. 

Joe Biden who were rooting for him these elections, are going through the same feeling you would go through while investing in a shaky bank. After the reigning President' dismal performance in the US Presidential Debate against a tough adversary, Donald Trump, many influential politicians, pollsters and analysts have called for Biden's resignation from the poll race.

Stocks that traded heavily or had substantial price changes on Wednesday: Quest Diagnostics, Southwest Airlines rise; Simulations Plus falls

Keir Starmer has been formally appointed as prime minister by King Charles III after his party secured 412 of the 650 seats in the House of Commons, while the Conservatives fell to 121. The Liberal Democrats gained 71 seats, and both Reform UK and the Green Party picked up four seats each. London's blue-chip index FTSE 100 has climbed 0.2% so far today following Labour's victory, while the domestically-focused FTSE 250 is up 1%, according to MarketWatch.  Sterling edged up 0.1% to $1.278 against the dollar and reached €1.18 against the Euro. These gains reflect growing investor confid...

defeat against Zimbabwe in the 1st T20I, India spinner Ravi Bishnoi said that they lacked partnerships which made the difference in the game. Ravi Bishnoi displayed a stunning performance in the first inning after he picked up four wickets and gave 13 runs in his four-over spell at an economy rate of 3.20. Speaking after the match, Bishnoi said that if the Indian batters had made a 20-30 run stand while chasing, they could have won the match.

Ajay Vora, Executive V-P & Head-Equities, Nuvama Asset Management, says they are playing two broad themes. On the consumption side, both at the domestic level as well as the exporters to the overseas market of the household goods looks interesting. Within domestic also, the consumption should ideally now pick up because if you look at segments like apparel, vacations, and the whole hospitality segment – I sense that demand is still very robust over there. They are also playing the infra theme through cement as a sector because we believe that with the consolidation happening there will be a decent price discipline which will result in higher profitability going forward. How are you dissecting the market construct because the kind of move that one has seen since the election results have been parabolic and now you have another event, the budget in just about two weeks. Ajay Vora: Broadly, we have been constructive on the markets throughout last year. Although there were some hiccups in between, I think till the time the earnings growth profile was pretty strong, I think that there is very little downside to the markets and that is why from the election outcome day also we have seen a very sharp rally from the lows.

Pidilite Industries Ltd. gained 0.11 per cent to Rs 3115.5 in Thursday's trade as of 12:08PM (IST). It hit a high of Rs 3130.95 and low of Rs 3097.7 during the session. The stock quoted a 52-week high price of Rs 3232.3 and a low of Rs 2293.1. The return on equity for the stock stood at 20.56 per cent. About 1,834 shares have changed hands on the counter so far.

It didn’t move markets, but during two days of congressional testimony this week, Fed Chair Jerome Powell made the beginning of a pivot on interest rates that might prove more durable than one that sparked a big market rally at the end of last year. Around December, Powell and several colleagues signaled they could begin the process of dialing interest rates down as soon as the middle of the year if inflation, which cooled notably in the second half of last year, continued on that path. When Powell testified on Capitol Hill in March, he allowed that the Fed was “not far" from achieving the confidence it needed to cut rates.

Jubilant Foodworks Ltd. gained 0.28 per cent to Rs 571.65 in Thursday's session as of 11:52AM (IST) even as the equity benchmark Sensex traded 182.67 points higher at 80169.47. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 586.35 and a 52-week low of Rs 420.85 on NSE. Around 19612 shares changed hands on the counter till 11:52AM (IST).

Diya Kumari today presented the state budget in which she made four big announcements to promote solar energy in the state. Among the announcements include Energy Express Home Reforms. Besides, the state is planning to create model solar village in each district of the state. The FM has also proposed a plan to build 2 MW decentralised solar plant.

I'm an associate at a major European bank in London. New analyst — graduate — hires are arriving soon, but we've been told we won't get any of them.

Indian stock market has emerged as the undisputed champion of global equities in the past year. Leaving even the tech-heavy NASDAQ in the dust, the MSCI India index has skyrocketed over 36%. This isn't just a story of the big players.

Cholamandalam Investment & Finance Company Ltd. slipped 0.61 per cent to Rs 1394.95 in Wednesday's trade as of 10:45AM (IST). The stock hit a high price of Rs 1415.05 and low of Rs 1389.8 during the session. The return on equity (ROE) for the stock stood at 17.45 per cent. Traded volume on the counter stood at 10:45AM shares and turnover at Rs 1.3 crore around that time. The stock of Cholamandalam Investment & Finance Company Ltd. quoted a 52-week high price of Rs 1475.95 and 52-week low prices of Rs 997.4, respectively.

Signs of consumers slowing down spending and falling behind on their bills weighed down shares of the big banks on Friday

Som Distilleries at Sehatganj village in Raisen, Madhya Pradesh. He calls his work “pauwa jamana”— setting the bottles upright so that alcohol falls into them. He did that for nine hours a day. Wearing jeans and tee shirt, Vineet sits with a slight stoop at his home. He says he dropped out of school. Instead of going to class, the thin boy would reach the distillery at 8 am and work till 5 pm. After a long day of strenuous, hazardous work, he would go home with Rs 350. He saw the hands of his friends had turned white, the skin had peeled. “It could have been the chemicals,” he says. He worked there only for a fortnight. Before he had to spend more days in that reeking plant, before his hands too got scalded, he was rescued. On June 15, a team of officials of the National Commission for Protection of Child Rights (NCPCR) and Bachpan Bachao Andolan (BBA), a nonprofit founded by Kailash Satyarthi, rescued 59 children—39 boys and 20 girls—from the distillery, in the biggest busting of child labour racket in the liquor industry in the past several years. About 40 other children “escaped” during the raid, according to officials at the rescue operation.

Ambuja Cements Ltd. traded 0.11 per cent down in Wednesday's trade at 02:00PM (IST). Around 69,001 shares changed hands on the counter. The scrip opened at Rs 698.55 and touched an intraday high and low of Rs 699.6 and Rs 687.75, respectively, in the session so far. The stock of Ambuja Cements Ltd. quoted a 52-week high of Rs 706.85 and a 52-week low of Rs 404.0.

An important person in the government requested me to write about how the subsidy from Union budgets for second-class AC train seats in India has grown since 2014, given that these fares haven’t been adjusted for rising fuel costs. I haven’t managed to figure out if there is a subsidy on these fares, let alone how fast it may be growing. Happy to be corrected, but it seems that the outgo towards this subsidy and the figures needed for computing it are not being reported in the Union Budget.

two officials said. Allocations to the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) are likely to be similar to estimates in the interim budget, one of the two officials said. "These allocations can be increased later as per the requirement and demand for jobs in the rural regions," the person said on the condition of anonymity.

INDIA bloc allies are working to consolidate gains by scoring impressively in the upcoming assembly polls in Maharashtra, Jharkhand and Haryana. Gauging that the electoral outcome in these three states headed for polls in September-October could have political implications even beyond them, Congress and its allies are working on strategies to get a head start besides firming up their internal unity. This even as opposition camps are expecting and preparing for the much-awaited elections in Jammu and Kashmir around the same time.

diesel exports to Europe surged fourfold in June over the previous month as refiners profited from better margins available in the continent. Indian refiners exported 119,400 barrels per day of diesel to Europe in June, up from 24,500 barrels per day in May, according to energy cargo tracker Vortexa. However, India's overall diesel exports fell 4% to 482,400 barrels per day. Europe alone received a quarter of India's diesel shipments. Supplies to Asia fell 10% to 107,800 barrels per day last month, with nearly 30% cut seen in shipments to other markets including Africa.

RVNL, REC and CAMS were among those that offered a glimmer of hope in an otherwise bleak trading environment. RVNL has been a standout performer for the day with gains of over 8% while trading at Rs 587 on NSE after the company announced that it has received a letter of acceptance from Maharashtra Metro Rail Corporation (Nagpur Metro).