UPS Financial News

FMCG major Hindustan Foods (HFL) surged 15% today on BSE to Rs 582.50 after a likely equity stake sale of 11.1% via a block deal on Wednesday. The deal size is said to be approximately worth Rs 720 crore. Westbridge, Sixth Sense are among a few PE investors that are likely to be the sellers in the transaction. However, the official details of the buyers and sellers are not currently known.

Marico Ltd. gained 0.51 per cent to Rs 618.25 at 01:03PM (IST) in Wednesday's trade. The scrip has hit a high of Rs 619.75 and low of Rs 609.2 so far during the session. The stock had closed at Rs 615.1 in the previous session. The counter has had a total traded volume of 30818 shares so far with a value of Rs 1.89 crore on the NSE. It traded at a price-to-earnings multiple of 53.95 and a price-to-book ratio of 16.73.

train ticket bookings. According to recent claims on various platforms, it was alleged that booking tickets for individuals with different surnames could lead to severe penalties including fines up to Rs 10,000 or imprisonment for up to 3 years. However, IRCTC has categorically stated that these assertions are baseless. In a statement posted on X, IRCTC clarified, «The news circulating on social media about restrictions on booking e-tickets due to different surnames is false and misleading.» The corporation emphasized that users can indeed book tickets for friends, family, and relatives using their personal User IDs.

KwikChat, a whatsapp commerce solution by eCommerce enabler GoKwik, said it aims to increase its revenue fourfold and powering over 5000 brands and 3 billion conversations in the next six months. GoKwik launched KwikChat in June last year following the acquisition of the WhatsApp commerce platform Tellephant. The solution enables brands to engage with target shoppers, ensuring higher ROI on marketing campaigns, better-abandoned checkout recoveries and greater repeat purchases. “This past year has been transformative for KwikChat. We acquired Tellephant with a strategic vision of bridging the gap from conversations to conversions for eCommerce brands. This has shown immense value and we’ve now geared up to take it to the next level. As not just acquiring but consistently engaging and retaining shoppers grows in importance, KwikChat is heading towards becoming the go-to engagement platform across all channels. With our DNA committed to solving everything eCommerce, we are excited about the vision we have for the next phase of KwikChat’s growth“ said Chirag Taneja, co-founder and CEO of GoKwik

Bitcoin prices saw stable trading on Wednesday, gaining marginally by 1% to $61,598 around 12 pm India time. Other major crypto coins traded with a positive bias too. Among them were Etehreum, BNB, Solana, Dogecoin, Tron, Cardano, Shiba Inu and Avalanche which were up by up to 3% around this time. A few of them were also on the losing side viz. XRP, Polygon, XRP and Toncoin which were down by 1.5%.

Siemens Ltd. traded at Rs 7621.35 on BSE at 12:58PM (IST) on Wednesday, up 0.78 per cent. The stock quoted a 52-week low price of Rs 3248.0 and a high of Rs 7910.0. Earlier in the day, the stock saw a gap down opening.

JM Financial initiated coverage on small cap stock Shivalik Bimetal Controls (SBCL) with a target price of Rs 730 as they believe that the company is a niche player in the market and may be geared up to capture manufacturing opportunities. SBCL is predominantly a bimetal / electrical contacts manufacturer but ventured into the shunt resistor business from 2014-15. It has gained significant dominance in the domestic market and is now ready to further expand the export opportunity with capex already done and capacity in place.

Trent Ltd. gained 0.37 per cent to Rs 5358.15 in Wednesday's trade as of 12:22PM (IST). The stock hit a high price of Rs 5379.3 and low of Rs 5273.5 during the session.

This initiative aims to help Delhi regain share of domestic liquor sales following the closure of the private-operated premium liquor stores due to the rescission of Delhi Excise Policy 2021-22 in September 2022, the report (by Atul Mathur) said. The arrival and departure areas of T3 currently have duty-free shops where international travelers can purchase liquor. However, domestic terminals will soon join the fray with their own shops following this new development. At its peak, the Delhi airport's domestic terminals housed six premium liquor stores, run by private entities, under the Delhi Excise Policy 2021-22. After the policy was withdrawn amid investigations by the CBI and ED for alleged irregularities, the Delhi government decided to return to the old excise regime, pushing the retail liquor business to four government corporations.

Tata Steel aims at having a minimum of 25 per cent of its workforce made up of diverse groups, including gender minorities, marginalised communities, persons with disabilities and LGBTQIA+ individuals, within the next few years, a company official said. It is one of the first companies in the country to roll out a special recruitment drive for transgender talent, having recruited over 100 members from the community for various roles across different locations, the official claimed. «Continuing this drive, we aim to have 25 per cent of our workforce from diverse groups in the next couple of years,» the official said.

Lupin Ltd. gained 1.85 per cent to Rs 1586.8 in Wednesday's trade as of 12:27PM (IST). It hit a high of Rs 1586.8 and low of Rs 1545.0 during the session. The stock quoted a 52-week high price of Rs 1727.9 and a low of Rs 852.65. The return on equity for the stock stood at 13.39 per cent. About 6,774 shares have changed hands on the counter so far.

PI Industries Ltd. slipped 0.27 per cent to Rs 3774.6 in Wednesday's trade as of 12:12PM (IST). It hit a high of Rs 3793.1 and low of Rs 3755.1 during the session. The stock quoted a 52-week high price of Rs 4032.0 and a low of Rs 3060.0. The return on equity for the stock stood at 19.25 per cent. About 2,749 shares have changed hands on the counter so far.

Bharat Electronics Ltd. fell 0.48 per cent to Rs 308.0 at 12:07PM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 441,120 shares with a turnover of Rs 13.63 crore till 12:07PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 57.03, while the price-to-book value ratio stood at 9.02.

Bajaj Auto, India’s largest exporter of two and three wheelers has inaugurated its new manufacturing plant in Manaus, Brazil, it said in a statement on Wednesday. This will be the company’s first manufacturing facility outside India. In all the other markets in which it has a presence the company follows a distribution-led model – the distribution partners manage local operations, including assembly. Bajaj now sells vehicles in 100 countries. The Bairro Tarumã-based factory with an area of 9600 square meters has a capacity to produce engine assembly, vehicle assembly, and testing facilities has a production capacity of 20,000 units per annum on a single shift. It can be expanded further in due course to accommodate additional production capacity to up to 50,000 units per year. Initially, the plant will focus on manufacturing Dominar models and later Pulsar models when they become available for introduction. «With the establishment of our own plant in Brazil we have achieved a quantum shift in our local capability to fulfil demand. Our Dominar brand has received an outstanding reception since its launch 18 months ago. The new manufacturing capabilities will enable us to build a wider distribution network, introduce new products and meet growing expectations of our customers.” Rakesh Sharma, Executive Director of Bajaj Auto said in the statement.

Quant Mutual Fund, which is under Sebi’s investigation for a suspected front-running case, was sitting with around Rs 9,355 crore cash pile in May, an analysis by ETMutualFunds showed. This was around 12.41% of the total AUM. The total equity AUM of the fund house was Rs 66,052 crore. The fund house has around 21 equity mutual fund schemes. Of these 21 schemes, four schemes had more than Rs 1,000 crore cash in their portfolio. Quant Small Cap Fund had the highest cash allocation of Rs 1,607.37 crore. The total equity AUM of the small cap schemes is Rs 19,635 crore as on May 2024. Also Read | Why investors should not panic or stop SIP in Quant Mutual Fund after front-running crisis

budget in mid-July after a shock election outcome in which Modi failed to win a majority and has returned to power with the help of allies. The budget, Modi's first major policy announcement in his third term, is expected to lay out possible changes to India's economic priorities for the next five years, the tenure of the coalition government. Indian Finance Minister Nirmala Sitharaman is considering lowering personal tax rates for certain categories of individuals while sticking to the nation's fiscal deficit target for the year, government sources have said.

Mazagon Dock Shipbuilders surged 6.5% today in early trade to a fresh 52-week high of Rs 4,269.75 on BSE as the company announced that it has been granted 'Navratna' status. “This is to inform that Department of Public Enterprises (DPE) vide its letter dated 25" June 2024 has approved the proposal for grant of Navratna status to Mazagon Dock Shipbuilders Limited,” the company informed the stock exchanges.

T20 World Cup semifinal, according to former all-rounder Paul Collingwood, who feels that the 'Men in Blue' are unlikely to lose the grudge match against the defending champions. India and England are set to clash on Thursday in a repeat of the 2021 last four stage match in Adelaide which Jos Buttler and his men won by 10 wickets. «Honestly, I can't see India losing this time. England will need something extraordinary to beat them,» Collingwood said on Star Sports Press Room. Jasprit Bumrah has been in sensational form with teams including the likes of former champions Australia and Pakistan struggling to score against him. Collingwood reckons the pacer's four overs would decide the complexion of the game.

InterGlobe Aviation Ltd. slipped 0.1 per cent to Rs 4232.15 in Wednesday's trade as of 11:42AM (IST). The stock hit a high price of Rs 4265.7 and low of Rs 4227.05 during the session.

? The amount die-hard fans are willing to shelve to catch Telugu superstar Prabhas may make you dumbfounded. According to a News18 report, fans are willing to shelve as high as Rs 2300 to bag a ticket for ‘Kalki 2898 AD’. What makes this news even more astounding is that these are not fans from regions such as Telangana and Andhra Pradesh, which are considered the mainstay of Telugu stars, but Mumbai! Yes, you read that right! The most expensive ticket for the upcoming epic sci-fi fantasy is being sold in Mumbai.

Dipan Mehta, Director, Elixir Equities, says real estate stocks have given fabulous returns, and at this point, as is the case with a lot of other stocks, the risk-return profile is not in your favour. Mehta says he would just wait and watch and look for a correction, 15-20% correction or so, which may provide us with some margin of safety. If one had to play it from a stock market angle, how are you looking at the real estate space? Where do you find promise?