UPS Financial News

Zuari Agro Chemicals Ltd.(up 4.27%), Mangalore Chemicals & Fertilizers Ltd.(up 3.09%), Chambal Fertilisers & Chemicals Ltd.(up 0.91%), Sikko Industries Ltd.(up 0.22%) and Khaitan Chemicals & Fertilizers Ltd.(up 0.21%) stood among the top gainers.

Economist Peter Morici breaks down what the national debt is, why it ballooned to more than $34 trillion and what it means for Americans.

Modi’s vast domestic agenda is in jeopardy after his party failed to win an outright majority in parliament for the first time in a decade, forcing it to work with a coalition of parties and grapple with an expanded opposition bench. Over the past decade that Modi’s Bharatiya Janata Party has ruled with absolute majorities, its advocated for — and pushed through — laws that critics say have furthered its majoritarian goals. Some of the outstanding policies on that agenda may now need to be reviewed or jettisoned after the electoral setback. Signs of acrimony between the BJP-led government and the opposition were visible Monday at the start of the first parliamentary session since election results earlier this month. A united opposition — which won about 230 of the 543 seats in the lower house, the Lok Sabha — are opposing the BJP’s selection of a temporary speaker of parliament and are protesting against a brewing scandal over college entrance exams.

Uttar Pradesh Special Task Force (STF) arrested six individuals in connection with the paper leak of the Review Officer/Assistant Review Officer (Preliminary) Examination-2024. These arrests, made in Prayagraj, follow the discovery that the exam papers were leaked from a printing press in Bhopal. The examination, conducted by the Uttar Pradesh Public Service Commission (UPPSC) on February 11, was subsequently canceled on March 2 after reports of the leak surfaced. Prior to this, ten individuals had already been arrested in connection with the case. The accused face charges under various sections of the Indian Penal Code, including cheating, forgery, and criminal conspiracy, as well as the Uttar Pradesh Public Examination Act, 1998, and the Information Technology Act. During interrogation, it was revealed that the question paper was leaked in two ways. The arrested individuals include Sunil Raghuvanshi, a mechanical engineer at the printing press, and others identified as Subhash Prakash, Vishal Dubey, Sandeep Pandey, Amarjeet Sharma, and Vivek Upadhyay, all his former classmates. Initial intelligence had suggested that the leak originated from a school in Prayagraj, where Arpit Vineet Yashwant, responsible for the exam at the center, was previously arrested along with four gang members in April. Investigations are also looking into the involvement of the school's management and principal.

hilsa ecosystem in the Ganga estuary. The use of fine mesh nets, which trap even the smallest fish, is described by many as an act of temporal greed. This unsustainable practice is pushing the hilsa population to spawn in Bangladesh, where catching juvenile hilsa is a punishable offense. While larger hilsa weighing between 400 g and 600 g are also caught, their numbers are significantly lower.

MK Dhanuka, MD, Dhanuka Agritech, says that in order to make the pesticide available at reasonable prices for the farmers, the government should definitely think of reducing the GST on agrochemicals from 18% to either 5% or at least up to 12% immediately. The industry tried very hard this time for GST reduction but it was not taken up. What is your expectation? Will it be taken up going forward and if it is taken up, how much improvement do you expect in the industry because of that?

Abhishek Sharma and Riyan Parag and pace sensation Mayank Yadav are likely to get their maiden Indian team call-up for the upcoming T20I series against Zimbabwe, as per sources. India will be touring Zimbabwe for a five-match T20I series following the conclusion of the ongoing ICC T20 World Cup. The series will start on July 6 and go on until July 14 with all matches taking place in Harare. The sources added that the series will witness a lot of senior players being rested as well.

«There will always be some slowdown or pickup in the economy, but I do not envisage a material and a broad-based general slowdown from a pure macro perspective,» says Vinay Paharia, CIO, PGIM India Mutual Fund. There is a sense in the market that maybe some amount of fatigue maybe actually coming in with all triggers playing out and there is, in fact, some concern that first quarter numbers may actually not be that great. Is that a legitimate concern? Vinay Paharia: You will have to look at concerns from a different angle. From a broad macroeconomic perspective, we are clearly cruising at high speed. There will always be some slowdown or pickup in the economy, but I do not envisage a material and a broad-based general slowdown from a pure macro perspective.

Punjab farmers have also reiterated their demand for farm debt waiver from the central government. The Telangana government has said that the scheme is set to benefit nearly 40 lakh farmers. However, it has stated that the farm loans provide temporary relief to farmers and is not a long-term solution to agrarian distress. With Telangana government waiving farm loan, Punjab farmers have sought a similar demand.

Montague, the current chief financial officer, will take up the top leadership position on 1 October, subject to regulatory approval. She has been appointed CEO designate from 1 July. She joined the group in August last year and has extensive experience in the UK long-term savings and asset management sector. Brooks Macdonald loses UK distribution head to Ascot Lloyd Prior to Brooks Macdonald Montague was most recently group chief risk officer at Aviva, and group chief financial controller before that. She also held senior leadership positions at Royal London Group and Standard Lif...

Following an internal review and engagement with the company's largest shareholders, the board said it was updating its current tender offer plan, as the conditional mechanism brought in in 2020 is about to expire. Scottish Mortgage dominates investment trust share buybacks year-to-date Back then, the company put a conditional tender offer in place, which was dependent on the trust outperforming the TOPIX with compounding total returns of 4.7% per annum to 31 May 2024. The board said it «expected» the trust to meet its performance target and as a result the tender offer will not be...

Earlier this year, the US bureau of labour statistics landed in an unusual controversy. An email sent to a group of ‘super users’ about methodological tweaks in inflation calculations for the month of January found its way to the press. Since the group of super users included leading investment banks and hedge funds, it raised suspicions about the agency sharing market-sensitive information with a closed group.

₹34,000 crore in April and May, overseas investors bought Indian equities worth more than ₹12,000 crore this month so far.However, for the first fortnight of June, FPIs remained net sellers in domestic markets, as their total outflows stood at ₹3,064 crore. In precise, between June 1 and 15, FPIs were sellers to the tune of ₹12,519 crore across 11 sectors, while they infused funds worth ₹9,455 crore in 12 sectors, data from National Securities Depository Ltd (NSDL) showed.Sunil Damania, Chief Investment Officer, MojoPMS believes FPIs have altered their position in the equity market following the election results.

Asian shares are mostly lower after U.S. stocks coasted to the close of their latest winning week on Friday, even as Nvidia’s stock cooled further from its startling, supernova run

Also Read: Multibagger Garden Reach Shipbuilders share price rises 9% on $54 million order inflow for commercial vesselsThe estimates encompass IPOs listed up to June 19, according to a report by Nuvama Alternative & Quantitative Research. It is to be noted the lock-in period is different for different classes of investors.Jupiter Life Line Hospitals' one-year share lock-in period ends on September 13, and 11 million equity shares of the company, or 16% of the total outstanding shares, will be released.

Ujjivan Small Finance Bank fell 7.56% in today's intraday trade, hitting a 3-week low of ₹44.70 apiece after the management reduced the bank’s loan growth guidance to around 20% for FY25, down from the earlier guidance of 20%–25%. Additionally, the bank increased its credit cost guidance to 1.7%, up from the previous 1.4%–1.5%.This adjustment is due to increased stress in microfinance in certain hotspot states such as Punjab, Haryana, Gujarat, UP, and Kerala.

Indian Hotels Company Ltd. gained 1.36 per cent to Rs 645.55 at 11:47AM (IST) in Monday's trade. The scrip has hit a high of Rs 654.0 and low of Rs 631.1 so far during the session. The stock had closed at Rs 636.85 in the previous session. The counter has had a total traded volume of 94598 shares so far with a value of Rs 6.08 crore on the NSE. It traded at a price-to-earnings multiple of 72.02 and a price-to-book ratio of 8.9.

Hero MotoCorp on Monday said it will hike prices of select motorcycle and scooter models by up to Rs 1,500 with effect from July 1, 2024 in order to partially offset the impact of higher input costs. The price revision will be up to Rs 1,500 and the exact quantum of increase will vary by specific model and market, the country's largest two-wheeler maker said in a statement. «The revision has been necessitated to partially offset the impact of higher input costs,» it added. Hero MotoCorp sells a range of bikes including high selling Splendor range, HF Deluxe and Glamour.

Shree Cements Ltd. 0.0 per cent to Rs 27388.3 in Monday's trade as of 12:02PM (IST) even as the benchmark Nifty ruled at 23532.9, up 31.81 points. The scrip had closed at Rs 27390.1 in the previous session. The stock quoted a 52-week low of Rs 22601.3 and a high of Rs 30710.15. The company quoted a market-cap of Rs 98447.04 crore on the BSE.

Bharat Forge Ltd. gained 0.23 per cent to Rs 1755.95 in Monday's trade. It hit a high of Rs 1775.0 and low of Rs 1735.0 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 1219.55, while the 50-DMA was at Rs 1446.77. 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.

India's Kotak Mahindra Bank will increase its pace of opening new branches and add about 175 to 200 branches in the financial year 2024-25, a senior official at the bank said, months after the central bank barred the private lender from sourcing new customers digitally. In April, the Reserve Bank of India (RBI) stopped Kotak from adding new customers via its online and mobile banking channels, and from issuing new credit cards, due to information technology-related deficiencies. «We have been adding roughly 150 odd branches for several years now. This year too, the momentum is going to continue,» Virat Diwanji, group president and head — consumer bank, told Reuters in an email interview on Monday.