UPS Financial News

Adani Ports shares entered the S&P BSE Sensex on Friday while Wipro made an exit from the 30-stock index as part of the semi-annual rejig. The adjustment happened after the market hours and the stock will start trading as a Sensex constituent from Monday. With the inclusion of Adani Ports Special Economic Zone (APSEZ), passive inflows of $259 million is expected along with the addition of 14.9 million shares, according to Nuvama’s estimates.

Supreme Court on Friday refused to entertain a plea challenging certain alleged controversial dialogues and scenes in Annu Kapoor-starrer movie 'Hamare Baarah'. The Bombay High Court had on June 19 allowed the release of the movie after its makers agreed to delete certain objectionable portions. The matter came up for hearing on Friday before a vacation bench of justices Vikram Nath and S V N Bhatti, which allowed the petitioner to withdraw the plea. «By this writ petition, I have challenged certain controversial dialogues and scenes in the picture,» the counsel appearing for the petitioner said.

NDRF, performed yoga along with them, as the 13th battalion of National Disaster Response Force (NDRF) celebrated the 10th International Yoga Day in Udhampur on Friday. Parveen Singh Assistant Commandant 13th Battalion NDRF Udhampur said, «On the occasion of International Yoga Day, for the last 15 days we are regularly involved in Yoga Day activities. The most important aspect is that we have involved a stray dog. To raise awareness of Yoga we have included stray dog in the activity so that people realise that if a stray dog can perform it with ease then definitely the common man should do it. Trained dogs have high IQ levels and can pick up easily but the stray dog took more time to learn yoga.» He said that the stray dog has been included in the Yoga activity since the last 15 days.

Samrat Chaudhary has been appointed as the convenor of the GoM on GST rate rationalisation. According to an official memorandum posted on the GST Council secretariat website, the other members of the reconstituted panel are Uttar Pradesh Finance Minister Suresh Kumar Khanna, Goa Transport Minister Mauvin Godinho, Rajasthan Medical, and Health Services Minister Gajendra Singh. The GoM also includes West Bengal Finance Minister Chandrima Bhattacharya, Karnataka Revenue Minister Krishna Byre Gowda, and Kerala Finance Minister K N Balagopal. The seven-member GoM has been tasked with suggesting required rate rationalisation and correction of inverted duty structure with an objective of simplifying the rate structure, reviewing the GST exemption list and enhancing revenues from Goods and Services Tax (GST).

Benchmark NSE Nifty closed 65.91 points down at 23501.1 amid selling in frontline bluechip counters.

According to the Office for National Statistics, retail sales volumes increased by 2.9% in May, up from 1.8% recorded a month before (revised from 2.3%). Over the year to May, sales rose by 1.3%, however, they remained 0.5% below their pre-COVID levels in February 2020. The largest monthly increase came from non-store sales – comprising mostly online retailers, but also stalls and markets – which rose by 5.9%, mostly on the back of strong clothing and other non-food sales. Textile, clothing and footwear retailers came second, registering a 5.4% increase from the previous month, follow...

Triveni Engineering & Industries Ltd has acquired an additional 36.34 per cent stake in sugar firm Sir Shadi Lal Enterprises Ltd for Rs 45 crore. The company is one of the largest integrated sugar producers in the country, a leading player in engineered-to-order high-speed gears & gearboxes, and water and wastewater management business. In a regulatory filing on Thursday, Triveni said it has acquired an additional 36.34 per cent stake in Sir Shadi Lal Enterprises Ltd.

GRM Overseas, an FMCG and basmati rice exporting company, has announced that the board has approved the fund-raise of Rs 136.5 crore through the issue of share warrants on a preferential basis to 33 promoters and non-promoter investors. The board has approved the allotment of up to 91,00,000 share warrants at an issue price of Rs. 150 including a premium of Rs 148 per warrant. The funds raised will also expand India's “10X” brand, making it a comprehensive food FMCG product company. The funds will also be allocated to explore future inorganic growth opportunities, including strategic mergers and acquisitions, and improve operational capabilities. These activities may be undertaken directly by the Company or through its subsidiaries or joint ventures. The investors include Atul Garg (Promoter), Forbes EMF, Singularity Equity Fund and Nikhil Vora HUF, among others, will be issued share warrants.

Nuvama initiated coverage on Bikaji Foods, with a target price of Rs 885, as the company has emerged as a heavyweight in the rapidly expanding Indian savoury snacks market. “With capex largely incurred, rising asset utilisation shall propel its RoCE to 32% by FY27E. Insatiable scope for savoury snacks, brand equity, favourable trends and expansion make it covetable,” said Abneesh Roy, Analyst at Nuvama.

Indian opposition leader and New Delhi chief minister Arvind Kejriwal has been granted bail by a court in the capital after he was arrested in a bribery case in March

Revenue Deficit: When the government has a shortage of enough funds to maintain its day-to-day affairs is known as revenue deficit. This happens when total revenue expenditure surpasses total revenue receipts, leading to a revenue deficit. To work through the revenue deficit, the government often resorts to borrowings and divestments to make up for this gap in revenue, alongside the introduction of new or increasing taxes. Fiscal Deficit The fiscal deficit is the negative balance that happens when the Centre spends more money than it receives. The number is one of the most important figure that is observed during the Budget. The size of the deficit may affect growth, price stability, cost of production, and inflation. Additionally, in case of high fiscal deficit, a country's rating is also impacted.

Nikkei share average closed slightly lower on Friday as losses in technology shares overshadowed gains in value stocks amid a weak yen and higher yields. The Nikkei slipped 0.09% to 38,596.47 after three straight sessions of gains. However, it fell 0.49% for the week.

Colgate-Palmolive (India) Ltd. fell 0.63 per cent to Rs 2836.8 in Friday's session as of 12:52PM (IST) even as the equity benchmark Sensex traded 408.0 points lower at 77070.93. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 3068.95 and a 52-week low of Rs 1625.0 on NSE. Around 1794 shares changed hands on the counter till 12:52PM (IST).

Crompton Greaves Consumer Electricals Ltd. traded 0.52 per cent higher in Friday's session at 12:47PM (IST). The stock opened at Rs 425.75 and has touched an intraday high and low of Rs 436.6 and Rs 423.1, respectively, during the session so far. The stock quoted a 52-week high of Rs 436.6 and a 52-week low of 262.1. About 50,747 shares changed hands on the counter so far.

Many times certain family members (parents, kids or grandkids) need more support than others (due to personal, mental or physical challenges). It is important to acknowledge this and make a plan that would be inclusive, whilst being just and fair to others.If one family member needs more financial support than the other, this feeling has to be propagated by not just words on paper (via will), but also by emotions and support (when alive).

LISBON—The Americans are here, and this sun-bleached coastal city is booming. At bars, hotels and restaurants that line winding cobblestone streets, business is so good that Mayor Carlos Moedas recently slashed local income tax for residents. With economic growth of 8.2% last year and a 20% rise in tax revenue from prepandemic times, he’s also made public transportation free for young people and the elderly.

OTP (One-time password) fraud, where cyber criminals exploit the digital codes meant to secure transactions and personal data. To combat this threat, it is crucial to adopt a proactive approach.OTPs are a critical security feature in the digital authentication process. They generate a unique code for each transaction that expires shortly after issuance or once it has been used.

NMDC, the country's largest iron ore producer, with a one-year target price of ₹319 apiece, as the brokerage believes that the company is in the sweet spot amid rising pellet export demand coming from China. The company's shares have been on a roll over the last 12 months, climbing from ₹104 apiece to the current level of ₹273, resulting in a multibagger gain of 162%. Also Read: Gold climbs 1% to two-week high on increased Fed rate cut expectationsThe brokerage highlighted several key factors impacting the steel and pellet markets.

Crisil report, with products ranging from student education loans to expansion capital for educational institutions in the form of education infrastructure loans.Draft Red Herring Prospectus (DRHP) states that Olive Vine Investment Ltd, a Warburg Pincus affiliate, is the company's promoter. International Finance Corporation and affiliates of Kedaara Capital, Mubadala Investment Company, and Avendus Future are among the institutional shareholders.Also Read: Ola Electric, Emcure Pharmaceuticals get SEBI nod for IPO launchA fresh issuance of equity shares up to ₹1000 crore and an offer for sale (OFS) of up to ₹2500 crore by the "Selling Shareholder" with a face value of ₹5 per equity share make up the public offer, which has a combined total value of ₹3500 crore.The offer for sale includes equity shares from Olive Vine Investment Ltd (Promoter Selling Shareholder) up to ₹1,758 crore; equity shares from International Finance Corporation (Investor Selling Shareholder)up to ₹342 crore; and equity shares from Kedaara Capital Growth Fund III LLP (Investor Selling Shareholder) up to ₹400 crore.Also Read: Stanley Lifestyles IPO hits D-Street today; check GMP, review, and other key details.

Rahul Shah, V-P, Equity Advisory, MOFSL, says PSU banks are a top idea. Shah feels PSU banks will continue to do well this year and they are very overweight on it versus the private banks, so that is one basket. Secondly, in the PSU basket itself, OMCs have done well again in the last six months but here onwards, stocks like HP, BP, IOC can still compound another 20% from here. So, PSU banks and OMCs are one trades where risk versus reward could be quite favourable. Banks are coming back in favour and we can see that the FII participation as well is picking up. In fact, yesterday it was the FIIs which overtook DIIs. Is this going to be an elongated patch of FII money flowing in and thereby banks doing well? Rahul Shah: We have seen continuous selloff by FIIs for quite some time and their participation versus the retail versus the DIIs has been fantastic and the markets have given robust returns. Whenever they return, there are two-three sectors which are their favourites and one of them is financials. I think that in the last four-five days we are seeing that action in the entire financial space.

Benchmark NSE Nifty index fell 33.05 points to 23533.95 amid selling in frontline bluechip stocks.