Gap Financial News

transfer window looms, European football clubs are not just planning for the immediate future but also eyeing the next season’s prospects. With over six months left in the current campaign, players across Europe’s major leagues are nearing the end of their contracts, sparking anticipation about potential moves. The Sporting News has compiled a list of ten top players whose contracts expire in the summer of 2024, potentially setting the stage for significant transfers.

Icra on Monday said the Indian IT sector's revenue growth will inch up to over 6 per cent in 2024-25 from 3-5 per cent estimated for the ongoing financial year. The slower growth will have an impact on the hiring plans, the agency said, adding that staff addition will continue to remain «muted» for the next 2-3 quarters. The USD 250-billion industry grew by 9.2 per cent in FY2022-23. The muted hiring outlook is the result of a weak demand scenario and companies will be focusing on utilising the capacity in the past and improving the overall utilisation levels, the agency said.

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By Stefano Rebaudo

By Simon Jessop, Maha El Dahan and Hadeel Al Sayegh

Bank of India (RBI) shows that about ₹10.27 trillion was locked in bank deposits in fiscal year 2023. To put this number in perspective, only about ₹1.8 trillion household savings went into mutual funds through systematic investment plans (SIPs) in the same year. Due to RBI’s hawkish stance on retail inflation and the rising retail demand for credit, term deposit rates in India have risen to their highest in the past decade.

Rahul Sharma, Director, JM Financial Services, says “it is better to look at relative setups, stocks and sectors which have not participated in the last few days of rally. So relative setups become the go-to trade at this point in time. Do not chase the ones which have already done well and are already topping the charts on long term time frames. The best thing to do is something like banking, which is still away from its life high.” I remember the note which you had put out at JM quite ahead of the curve. You had it spot on. Such a big gap and it is not even giving any fresh buyers an opportunity. There is not a single pullback on an intraday at least till 12 noon. I mean, what do the traders do? They will have to play, chase the stocks. What are you recommending to your clients? There are three things happening here. One is the market was very light in terms of the long positioning. In fact, on the way up in the last week it was primarily a short covering rally. We saw both the indices Nifty, Bank Nifty, OI shedding by 15% week on week. We saw index components lose as much as one third of their open interest in a week. It was supposed to be the breakout that we all were expecting. Now what has happened is we have seen a short covering. Longs are very light. FIIs still have some residual shorts which means that a lot of people have missed out on this rally.

Stock market today: BCL Industries shares witnessed sharp upside move during Monday deals. BCL Industries share price today opened with a huge upside gap and went on to touch life-time high of ₹60.80 per share levels on NSE. While climbing to this nea peak, BCL Industries shares logged an intraday rise of over 12 per cent on Monday.

Michigan regulators have approved a $500 million plan to encase in a protective tunnel a portion of an oil pipeline that runs beneath a channel connecting two Great Lakes

Voltas Ltd. rose 0.45 per cent to Rs 838.75 at 01:03PM hours (IST) on Monday. Earlier in the day, the stock saw a gap up start to the session.

LTIMindtree Ltd. traded at Rs 5567.9 on BSE at 01:08PM (IST) on Monday, down 0.12 per cent from previous close. The stock quoted a 52-week low price of Rs 4120.0 and a high of Rs 5638.5.

Tata Elxsi Ltd. fell 0.61 per cent to Rs 8366.5 in Monday's session as of 01:24PM (IST) even as the equity benchmark Sensex traded 1113.51 points higher at 68594.7. Earlier in the day, the stock witnessed a gap up start to the session.

Spotify will reduce its total headcount by around 17% across the company, it said in an email on Monday, after laying of 6% of this staff in January citing higher costs. In the latest third quarter, the company swung to a profit aided by price hikes in its streaming services and growth in subscribers in all regions, and forecast that its number of monthly listeners would reach 601 million in the holiday quarter.

shortage of skilled labour is posing major challenges for Indian manufacturers in sectors such as engineering, automotive, electronics, infrastructure, chemical, pharmaceutical and food processing. According to a survey by workforce and HR management service provider Ultimate Kronos Group covering more than 300 manufacturers, 76% of the organisations reported skilled labour shortage hurting their profitability in 2023 – with 35% defining the impact as “severe”.

Electric vehicle drivers hoping to top up their batteries at one of Repsol's 1,600 Spanish charging stations might well be disappointed, with nearly half lying dormant because they have no power connection. Such gaps are evident across the European Union, where last week the European Commission announced plans to upgrade the bloc's power grids. These are due to be implemented in 18 months and include addressing EV charging station power shortages. But despite the declarations of its leaders, red tape preventing progress towards greener transport in the EU is on the rise, industry groups and energy companies told Reuters, with permitting one of the major roadblocks. The ease of building an EV charging hub varies considerably country by country. One industry source said that in Germany a hub was held up for months over rules protecting a single tree, while another located on a busy highway had to wait 10 months for a noise evaluation before it gained approval.

Indian Hotels Company Ltd. gained 0.96 per cent to Rs 430.65 in Monday's session as of 12:12PM (IST) even as the equity benchmark Sensex traded 981.9 points higher at 68463.09. Earlier in the day, the stock witnessed a gap up start to the session.

Colgate-Palmolive (India) Ltd. gained 0.19 per cent to Rs 2281.35 in Monday's session as of 12:02PM (IST) even as the equity benchmark Sensex traded 967.67 points higher at 68448.86. Earlier in the day, the stock witnessed a gap up start to the session.

Bandhan Bank Ltd. traded at Rs 232.1 on BSE at 10:50AM (IST) on Monday, up 2.59 per cent from previous close. The scrip quoted a 52-week low price of Rs 182.2 and a high of Rs 272.0.

Stock market today: Shares of Punjab National Bank (PNB) witnessed huge buying interest during morning deals on Monday. PNB share price today opened with big upside gap at ₹83.15 apiece levels on NSE and went on to hit intraday high of ₹83.95 per share levels, which turned out a new 52-week peak for PNB shares. PNB share price rebounded strongly after touching intraday low of ₹82.30 per share afer profit booking trigger at 52-week high.

Indian Oil Corporation Ltd. traded at Rs 115.95 on BSE at 10:15AM (IST) on Monday, up 4.22 per cent from previous close. The scrip quoted a 52-week low price of Rs 72.35 and a high of Rs 116.15.