UPS Financial News

Accenture had a few positive elements such as strong bookings growth and acceleration in growth rates. Shares of Persistent Systems was the top gainer as it rallied over 4% to day's high of Rs 4,065 on BSE. Other IT stocks like Coforge, LTIMindtree, Infosys, TCS and LTTS were also trading around 2% higher during the day. As a result, the Nifty IT index was also trading around 2% higher.

ICICI Lombard General Insurance Company Ltd. traded 0.87 per cent up at Rs 1763.0 at around 11:05AM (IST) on Friday. The stock had closed at Rs 1747.65 in the previous session. Equity benchmark Sensex traded 297.44 points lower at 77181.49 around the same time.

Lupin Ltd. gained 0.63 per cent to Rs 1565.05 at 11:11AM (IST) in Friday's trade. The counter hit a high of Rs 1578.35 and low of Rs 1531.15 so far during the session. The stock had closed at Rs 1555.1 in the previous session. The counter had a total traded volume of 11:11AM shares so far with a turnover of Rs 1.14 crore on BSE. The stock traded at a price-to-earnings multiple of 37.09 and a price-to-book ratio of 5.16.

Instagram’s 2010 launch flooded the zone with a whole genre of #travel photos. You know the look: oversaturated images with crowds cropped out that have made places from Patagonia to Iceland yawn-inducingly familiar. And with 39% of us now using social media for trip inspiration, according to the 2024 American Express Global Travel Trends Report, our feeds have become vacation-themed echo chambers.

Mint had reported that the grocery delivery company is looking to set up larger dark stores to stock a larger assortment of grocery and e-commerce products like cosmetics and gifting items.“If we are able to achieve this while continuing to delight customers, I believe we will be ready to go public relatively soon," he added.Founded by Aadit Palicha and Kaivalya Vohra in 2021, Zepto shot to fame after it secured upwards of $150 million in funding from marquee investors such as Y Combinator and Nexus Venture Partners within months of inception. It attained unicorn status last year after bagging $200 million in Series E funding led by US private equity firm StepStone Group, along with Goodwater Capital, Nexus Venture Partners and Glade Brook Capital.The startup is now planning an initial public offering sometime next year, aiming for a multi-billion dollar listing on the back of a healthy balance sheet, Palicha said.Over the last few months, Zepto has introduced several new initiatives to diversify its revenue streams and improve its margins.For instance, Zepto Pass, its loyalty programme with monthly prices starting at ₹19, saw more than a million customers sign up to it within a week of launch in February, according to the company.

₹747.95 apiece on the BSE.Bikaji Foods International is a heavyweight in the rapidly expanding Indian savoury snacks market. It is the third-largest player in the organised ethnic snacks market, market leader in family packs and leader in its core states: Rajasthan, Assam and Bihar.

Union Budget 2024: Industry leaders requested a host of considerations in the upcoming full Union Budget 2024 during their pre-Budget meeting with Finance Minister Nirmala Sitharaman on June 20.Expectations listed by India Inc. during the two-hour interaction include a reduction in the income tax burden for the common man, an increase in capital expenditure, and measures to control food inflation, PTI reported.Prominent industry figures, including Sanjay Aggarwal (President at PHD Chamber), Vinod Aggarwal (President at SIAM), Neeraj Akhoury (President at Cement Mfrs Association), Sanjay Kirloskar (CMD of Kirloskar Brothers), Arathi Krishna (MD of Sundram Fasteners), Shefali Misra (Vice President at Biocon), Yash Pal Sachar (Vice President at Ashok Leyland), and Samir Somaiya (President at IMC Chamber), and others, made recommendations for the Union Budget.Sanjiv Puri, President of industry body Confederation of Indian Industry (CII), presented eight points to Sitharaman for consideration.These included relief in income tax for lower income slabs, streamlining employment-linked incentive schemes such as the Production Linked Incentive (PLI) scheme, and promoting ease of doing business.CII also made recommendations for agriculture and rural development.Trade association, the Federation of Indian Chambers of Commerce & Industry's (FICCI) recommendations centred around driving capital expenditure, fostering innovation, and simplifying taxes.Former FICCI President Subhrakant Panda emphasised the need to support growth momentum by energising demand, enhancing infrastructure development, controlling food inflation, supporting MSMEs, and prioritising innovation and R&D.

Accenture Q3 results: Revenue touches $16.5 billion, cash dividend at $1.29 per shareIndian IT stocks rose after Accenture's earnings, boosting hopes that the worst was behind and that the sector may see demand revival.Accenture's earnings are seen as a performance indicator of Indian IT players, and they are keenly observed by IT sector experts and investors. It also indicates the demand for IT services worldwide."Accenture maintained FY2024 guidance at the midpoint of 2 per cent with nearly 3 per cent inorganic component.

Balaji Amines with a target price of Rs 2930. The current market price of Balaji Amines is Rs 2458.05. Balaji Amines Ltd., incorporated in the year 1988, is a Small Cap company (having a market cap of Rs 7916.21 Crore) operating in Chemicals sector.

Tax incentives, an increase in capital expenditure, fiscal consolidation, enhanced ease of doing business, and a stable long-term tax regime are among the key suggestions industry and financial institutions made in their pre-budget consultations with finance minister Nirmala Sitharaman on Thursday. The Confederation of Indian Industry (CII) said its president Sanjiv Puri suggested a 25% increase in capex spending over the revised estimate of FY24 and relief in income tax to boost consumption. CII also suggested setting up a Green Transition (Mitigation and Adaptation) Fund for which multiple sources of funding could be tapped and would facilitate the availability of capital at a lower cost, it said in a statement.

Rahul Jain, Vice-President -Research, Dolat Capital, says that Accenture’s improved order book is led by them providing the right solutions which the clients are needing. So, essentially, this is led by their own effort and there is not much of a change in the environment. Probably that’s why despite a very strong order book they did not comment anything beyond the current fiscal in terms of qualitative or quantitative aspect. What does the lowered revenue guidance by Accenture suggest to you about the company and the sector? What is your reading? Rahul Jain: Apart from the results, we also followed the commentary in the earnings call and what they are trying to indicate – the one positive data that came out was from an order book perspective, but management was clear that there is no change in the discretionary demand or overall client sentiment in terms of their spending. But this order book is led by them providing the right solutions which the clients are needing.

Rudra Global Infra Products Ltd. with a target price of Rs 70. The current market price of Rudra Global Infra Products is Rs 51.69. Rudra Global Infra Products Ltd., incorporated in the year 2010, is a Small Cap company (having a market cap of Rs 513.96 Crore) operating in Metals — Ferrous sector.

Balrampur Chini Mills, Birlasoft, GNFC, Hindustan Aeronautics, Hindustan Copper, Indus Towers and Piramal Enterprises. On Friday, Chambal Fertilisers, SAIL, and India Cements emerged from the ban list, while Birlasoft and GNFC were added to it.

shipping sector, spelling trouble for businesses in the city-state. The bunching up of container vessels outside one of the world’s busiest maritime trade hubs — caused by ships avoiding the Red Sea due to Houthi rebels’ attacks — means there’s more cargoes trapped in shipyards for longer. That’s pushing freight rates ever higher, with no immediate end to the congestion in sight. For the manufacturers and exporters needing to get their finished products out of the city-state, that means there may be little choice other than to hold on to their inventories longer than they’d like to.

Indian Hotels Company Ltd. with a target price of Rs 680. The current market price of Indian Hotels Company is Rs 638.3. Indian Hotels Company Ltd., incorporated in the year 1902, is a Mid Cap company (having a market cap of Rs 90871.91 Crore) operating in Tourism & Hospitality sector.

Rajat Sharma, Founder & CEO, Sana Securities, says initiating a lot of buying right now in technology and pharma sectors. Technology as a sector has done nothing. There is some kind of perception that Indian companies have not caught up with the whole artificial intelligence, with the whole AI theme and the stocks. If we look at how stocks in the US have moved, how Nasdaq has moved, the Indian IT sector has completely lagged behind and pharma is the other one. Considering you have been bullish on the private sector banks, you must be smiling right now. Rajat Sharma: No, actually, I have really not been bullish on private sector banking. The only bank from the private sector space that I have in my portfolio is Federal Bank and that is because I am positive on smaller private sector banks like IDFC First and Federal Bank. What I had said was, the larger private sector banks like HDFC Bank, IndusInd Bank, Axis Bank have really not delivered any return in the last three years or so.

Lemon Tree Hotels with a target price of Rs 175. The current market price of Lemon Tree Hotels Ltd. is Rs 147.6. Lemon Tree Hotels Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 11645.23 Crore) operating in Tourism & Hospitality sector.

PSU stocks on June 4 when BJP failed to get the absolute majority in the Lok Sabha on its own are now forced to eat the humble pie. After crashing 16% on result day, PSU stocks are once again leading the bull run as if PM Modi actually managed to achieve the ambitious target of '400 paar'. Driven by defence PSU Mazagon Dock Shipbuilders, which has seen a 48% return, the combined market capitalisation of 56 PSU stocks, which are part of the BSE PSU index, has surged by Rs 723,823 crore to Rs 68,03,059 crore in just 10 trading sessions (from June 4 closing till 19 June).

Wall Street shares pulled back from record highs hit early on Thursday in sympathy with rallying overseas indexes, as Treasury yields shook off soft U.S. data and rose anticipating new supply next week. The dollar firmed, as higher U.S. yields widened differentials with non-dollar rates that are trending lower. It drew closer to the 160 yen area that prompted Tokyo to intervene in late April to support its currency.

SoftBank Group CEO Masayoshi Son said on Friday that the group's mission was to help in humanity's progress by realising artificial super intelligence, which he said would exceed human capabilities by a factor of 10,000. «SoftBank Group has done many things until now that have all been a warm up for my great dream to realise artificial intelligence,» Son told shareholders at the group's annual general meeting.

Stanley Lifestyles is the fourth-largest player in the home furniture market in India with its presence in super-premium, luxury and ultra-luxury furniture ranges. It is a manufacturing retail company that markets its products under the 'Stanley' brand. The Bengaluru-based company is rolling out a ₹537 crore initial public offer (IPO) comprising a fresh issue of ₹200 crore and an offer for sale of ₹337 crore. The IPO represents 25% of the post-issue paid capital of the company. The proceeds would be used to open new stores, renovate existing ones and fund capex for new machinery.