UPS Financial News

Info Edge (India) Ltd. gained 1.27 per cent to Rs 6324.0 in Thursday's trade. It hit a high of Rs 6333.0 and low of Rs 6200.2 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 5132.32, while the 50-DMA was at Rs 6041.0. 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.

ETMarkets analysed the results of BSE500 companies in FY24 and found that about 45 companies have consistently maintained profit margins of at least or over 25% throughout the year. Out of these, 9 companies have delivered multibagger returns to investors in the last one year period.

Oben Rorr, with an initial discount for the first 100 customers. This strategic move is aimed at expanding Oben Electric's presence in the Delhi-NCR region, with plans to establish 12 showrooms and service centers by the end of the fiscal year. The discounted price for the initial 100 customers is Rs 1.10 lakh, ex-showroom, compared to the original ex-showroom price of Rs 1.49 lakh. This limited-time offer is designed to attract early adopters in the capital. The Oben Rorr electric motorcycle is equipped with a 4.4 kWh lithium-ion battery pack that powers a 10 kW electric motor, delivering 62 Nm of peak torque. The bike boasts impressive performance specs, capable of accelerating from 0 to 40 kmph in just 3 seconds and achieving a top speed of 100 kmph.

monsoon in many parts of the country has raised concern over the cultivation of kharif crops such as paddy, pulses and soyabean, even though experts still believe any shortfall can be largely mitigated if rainfall picks up by the first week of July. Soyabean Processors Association (SOPA) said only 10% of the area in Madhya Pradesh – the largest producer of the crop – has been sown for soyabean cultivation this year as compared to 50%-60% by this time last year while in West Bengal and Uttar Pradesh, a majority of farmers are waiting for rains to sow paddy. The pulses trade is worried about the impact of delayed monsoon on tur and urad crops, whose prices have gone up in the last two years due to less production and increased imports. Among pulses, tur, urad and moong are cultivated during the kharif season.

«If you are taking a three-five-year view, I think that even in capital goods and manufacturing, there are some really lucrative opportunities which have really not done as well as the broader capital goods and manufacturing space and that is where, again, there will be money on the table and you can make substantial moneys from here in the next two to three years,» says Anshul Saigal, Founder, Saigal Capital. What should one do simple? Which are the ideas where you think big money could be made? Which are the stocks which you think one should completely avoid, whether it is because of business risk or valuation risk? Anshul Saigal: I can tell you where I am an investor and where I see opportunity. I can tell you that rural economy is at the cusp of a turn and while we have had a raging bull market, stocks which are leveraged to the rural economy, discretionary rural economy, those are half from their all-time highs, so that segment has been a complete laggard because the broad market has been weak.

Bandhan Bank Ltd.(up 3.11 per cent), Au Small Finance Bank Ltd.(up 1.75 per cent), Federal Bank Ltd.(up 1.72 per cent), Kotak Mahindra Bank Ltd.(up 1.4 per cent) and IDFC First Bank Ltd.(up 1.15 per cent) were among the top gainers.

Domestic benchmark index NSE Nifty gained 11.3 points to 23527.3, while the BSE Sensex traded 16.62 points up at 77354.21.

Western Moscow Exchange sanctions look set to drive up Russian interest in cryptoassets such as USDT, a survey of traders and investors has found.

The price change in 24 carat gold in the last one week has been -0.1% .whereas in the last month it has been 4.18%.The cost of silver is Rs.88460.0 per kg up by Rs.640.0 per kg. Gold Price Today in Delhi is ₹73210.0/10 grams. Yesterday’s Gold Price on 19-06-2024 was ₹73519.0/10 grams.

In 1991, the Indian government articulated a ‘Look East’ policy to build extensive economic and strategic relations with its eastern neighbours and Southeast Asia. This was different from the traditional ‘West facing’ outlook, in which we looked to learn from Europe and North America. With the age of AI upon us, India is considering how it should both foster and regulate this powerful new technology which can reshape industry, society and geopolitics.

Silver ETF is the new kid on the block in the mutual fund (MF) investments landscape. The oldest fund in the group was launched only 28 months ago.

Gold prices edged higher on Thursday as lacklustre U.S. economic activity fuelled expectations that the Federal Reserve would cut interest rates this year. FUNDAMENTALS

WestBridge Capital divested on Wednesday a 1.7 per cent stake in the AU Small Finance Bank for Rs 845 crore through an open market transaction. WestBridge Capital, through its affiliate Westbridge AIF I, sold shares of the Jaipur-based AU Small Finance Bank through a bulk deal on the National Stock Exchange (NSE). As per data available, Westbridge AIF I offloaded 1.30 crore shares, amounting to a 1.75 per cent stake in AU Small Finance Bank.

Rishi Sunak's Conservatives at a July 4 election, forecasting the Labour Party would comfortably win a large majority after 14 years in opposition. Polling by YouGov showed Keir Starmer's Labour was on track to win 425 parliamentary seats in Britain's 650-strong House of Commons, the most in its history. Savanta predicted 516 seats for Labour and More in Common gave it 406.

Bitcoin mining appears to be having a moment. As the price of the flagship crypto asset scaled to new highs in March, flying on the back of ETF approval news, miner revenues also reached previously unseen levels, with the network distributing close to $70 million each day during the peak.

Private lenders surged in choppy trading on Wednesday helping the Bank Nifty index cross the 51,000-mark for the first time, bolstered by liquidation of bearish derivative bets. The index comprising nine private and three state-owned lenders hit an all-time high of 51,957 before closing at a record 51,439.9, up 2% over Tuesday. The Sensex ended 0.1% higher, while the Nifty fell 0.2% after shuttling between gains and losses.

State Bank of India is set to raise long-term bonds of ₹20,000 crore this fiscal via public issue or private placement of bonds, the bank said in an exchange notice. SBI is the country's largest lender and public sector bank (PSB). Last week, SBI concluded the issuance of $100 million foreign bonds that are to be issued through SBIs' London branch on 20 June 2024.

government over the next five years, even as the country remains the world's fastest-growing major economy, according to policy experts polled by Reuters. Asia's third-largest economy grew more than 8% last fiscal year, driven by government capital expenditure that so far has failed to spark sufficient business spending to create enough work, particularly for young people in a country of 1.4 billion. Prime Minister Narendra Modi's Bharatiya Janata Party lost the parliamentary majority it has held for the past decade in national elections that ended in early June over widening inequality, relentless inflation pressure — particularly on food — and a lack of well-paying jobs.

engineering goods export to the US continues to decline, the Indian government has agreed to study the possibility of signing an FTA (free trade agreement) with Mexico as several US companies, including Tesla, have set up manufacturing bases there. Indian industry wants to access the US market by having an FTA with Mexico as the US is the top destination for India’s engineering exports. Pankaj Chadha, senior vice chairman, Engineering Export Promotion Council (EEPC) said, “Most of the USA’s manufacturing has shifted to Mexico, including Tesla’s new plant. And the only way for India to increase our engineering goods export to the USA is to have an FTA with Mexico.” EEPC, a body affiliated with the commerce ministry, represents one fourth of India’s engineering exports, while engineering goods account for 25% of the merchandise exports from India.

Amazon said Wednesday it will invest an additional 10 billion euros ($10.7 billion) in Germany, most of it in cloud computing, the US tech giant's latest major investment in Europe. A total of 8.8 billion euros will come from Amazon's cloud computing division AWS and will be invested in southwest Germany by 2026, with the rest going into logistics, robotics and company offices.

₹6.78 per unit, up 23% from ₹5.51 a month earlier. Further, the duration of power price hitting the cap of ₹10 per unit rose to 12 hours a day, up from four hours a month earlier. "During daytime, prices have been around ₹3.5 per unit and market participants have been leveraging RTM (real-time market) segment to optimize their power procurement costs.