UPS Financial News

Hyundai India IPO: The Indian primary market is on the cusp of a historic event as it will witness the biggest-ever initial public offering (IPO) in the country. According to stock market experts, Hyundai India is offloading around 13 per cent of its stake in the upcoming IPO.

In a recent interview to The Indian Express, G. Hari Babu, national president of National Real Estate Development Council (Naredco)—a real estate industry association—shared some interesting data: “There are 1.14 crore flats lying vacant in India. These are being bought as investment opportunities." This is not the first time such a comment has been made.

Economic Times reported how this oversight also led to additional interest and penalties due to the supposed non-payment.Dr. Bhalla’s creditworthiness was severely affected by the incident, hampering his access to credit. He pursued legal recourse and successfully resolved the case.

Bonk (BONK), a Solana-based memecoin, stands out with a market cap of $2 billion and a total value locked (TVL) exceeding $416 million. As BONK experiences a sharp decline, questions arise about the potential reasons behind the sell-off and what it means for future price movements.

You can listen to Game 7 on 630 CHED.

Voltas Ltd. traded 0.22 per cent down at Rs 1507.3 on Tuesday at around 11:05AM (IST), while the benchmark BSE Sensex advanced 231.42 points to 77572.5. As many as 9,194 shares changed hands on the counter with a total value of Rs 1.39 crore.

Euro 2024 is gradually heading towards the knock-out Round of 16. So far, Germany, Spain, Portugal, Switzerland, Italy, England, France, Netherlands have qualified from the group stage. While top two teams qualify for round of 16, four third-placed teams will also play in the knock-out stage.

«I think this is going to be a story for most of the midcap stocks, that if you missed out something, probably the valuations are going to be far more expensive and that is what the case here as well,» says Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd. Let us begin by discussing Amara Raja Batteries because that stock has been charged up per se. It has doubled so far on a YTD basis and its other peer, even Exide, has managed to show a gain of around 80%. There is a latest announcement of another tie-up coming in from Amara Raja, but the big question is if you have missed out on the rally so far, is it good even for a fresh buy? Deven Choksey: Well, I think this is going to be a story for most of the midcap stocks, that if you missed out something, probably the valuations are going to be far more expensive and that is what the case here as well. I think the stock has already done the run-up in my viewpoint. Maybe I think the fundamentals are not doubted at this point of time. The growth and the prospects are also not doubted. But the fact remains that I think we are already scaled up on the valuation.

Rama Phosphates Ltd.(up 2.59%), Zuari Agro Chemicals Ltd.(up 1.26%), Madhya Bharat Agro Products Ltd.(up 0.71%), Aries Agro Ltd.(up 0.41%), Nagarjuna Fertilizers and Chemicals Ltd.(up 0.39%), Sikko Industries Ltd.(up 0.28%), Southern Petrochemicals Industries Corporation Ltd.(up 0.26%), Agro Phos India Ltd.(up 0.18%) and Chambal Fertilisers & Chemicals Ltd.(up 0.02%) were among the top gainers.

Sakthi Sugars Ltd.(up 6.99%), Magadh Sugar & Energy Ltd.(up 5.19%), KCP Sugar & Industries Corporation Ltd.(up 5.17%), Simbhaoli Sugars Ltd.(up 4.63%), Triveni Engineering & Industries Ltd.(up 3.24%), Rajshree Sugars & Chemicals Ltd.(up 3.12%), Bannari Amman Sugars Ltd.(up 3.10%), Bajaj Hindusthan Sugar Ltd.(up 2.99%), Shree Renuka Sugars Ltd.(up 2.88%) and Avadh Sugar & Energy Ltd.(up 2.74%) were among the top gainers.

Amar Kalkundrikar, Fund Manager, Nippon India Mutual Fund, says at Nippon the consumption thematic is about investing into companies that provide branded goods and services to consumers. It is a play on rising incomes, aspirations, and brand consciousness of Indian consumers. As their incomes rise, consumers are interested in premiumising their experiences across categories; they go for branded products and are willing to pay for it. That is the sort of behaviour we want to capture in our portfolios. Kalkundrikar further says Nippon MF has increased exposure to sectors where mass consumption revival should benefit, that includes basic FMCG, QSR, automobiles, where we have seen recovery already starting and of course, some of these home improvement categories.

Pidilite Industries Ltd. traded 1.01 per cent up in Tuesday's trade at 11:11AM (IST). Around 59,487 shares changed hands on the counter. The scrip opened at Rs 3105.0 and touched an intraday high and low of Rs 3140.45 and Rs 3105.0, respectively, in the session so far. Shares of the company of Pidilite Industries Ltd. quoted a 52-week high of Rs 3232.3 and a 52-week low of Rs 2293.1.

On the BSE, Ascensive Educare(down 20.00 per cent), Titaanium Ten Enterp(down 16.93 per cent), Achyut Healthcare(down 11.42 per cent), Jigar Cables(down 10.00 per cent) and Sheshadri Industries(down 9.92 per cent) were among the stocks that plunged over 5 per cent during the session.

GAIL (India) Ltd. traded at Rs 212.75 on BSE at 10:45AM (IST) on Tuesday, up 0.09 per cent from previous close. The stock quoted a 52-week low price of Rs 103.55 and a high of Rs 233.0.

Axis Bank Ltd.(up 1.78 per cent), Au Small Finance Bank Ltd.(up 1.45 per cent), HDFC Bank Ltd.(up 1.44 per cent), Federal Bank Ltd.(up 0.69 per cent) and State Bank of India(up 0.62 per cent) were among the top gainers.

Varun Beverages Ltd. gained 0.36 per cent to Rs 1584.85 at 10:35AM (IST) in Tuesday's trade. The stock hit a high of Rs 1599.95 and low of Rs 1572.0 so far during the session. The stock had closed at Rs 1579.15 in the previous session. The counter had a total traded volume of 10:35AM shares so far with a turnover of Rs 59.62 crore on BSE. The stock traded at a price-to-earnings multiple of 94.81 and a price-to-book ratio of 23.16.

Alkem Laboratories Ltd.(up 1.49 per cent), Granules India Ltd.(up 1.32 per cent), Divi's Laboratories Ltd.(up 1.24 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 0.75 per cent) and Sun Pharmaceutical Industries Ltd.(up 0.24 per cent) were among the top gainers.

mutual funds gave an average return of around 17.67% in the first half of 2024, an analysis of performance showed. There were around 263 equity mutual funds in the said period. The top four schemes were from the mid cap category. These four schemes gave more than 30% return in the same time period. Quant Mid Cap Fund, the topper in the list, gave 31.64% return in the first half of 2024.

Sobha Ltd.(up 2.97 per cent) and Phoenix Mills Ltd.(up 0.49 per cent) were among the top gainers.

fintech sector in India has been facing a decline in funding since last year, majorly owing to tighter regulations by the government. Scaling up is now coming at a cost for many firms in this segment. However, industry leaders and experts believe that it’s important for the regulator to do its job and the tightening of regulations is for the greater good. These regulations should be looked at as an enabling tool over obstacles. As per reports by Tracxn, the fintech sector saw a decline of 63% in 2023 in terms of funding. It received $2 billion in funding in 2023, compared to $5.4 billion in 2022 and $8.4 billion in 2021. This year, the sector raised $551 million from the January-March period in 2024, a decline of 50% a year earlier. Register here for the ET MSME Day 2024 here

The NSE Nifty index traded 54.41 points up at 23592.25, while BSE Sensex was up 213.63 points at 77554.71 as of 10:39AM(IST)on June 25.