Gap Financial News

PM Gati Shakti National Master Plan for multi-modal connectivity, helping their progress by ensuring speedy clearances and removing bottlenecks. As PM Gati Shakti completes two years on Friday, the Ministry of Commerce and Industry has prepared a performance report card outlining the significant improvement in ease of doing business and ease of living since its launch. As per the analysis, the initiative has significantly improved the ease of doing business by bringing down the pre-alignment finalisation time for infrastructure projects from three-four months earlier to one month now.

NEW DELHI : Coal stocks continued to shrink with power demand across the country hitting a peak of well above the 200 GW mark this week. Thermal power plants across the country have coal stocks to last just 7.5 days, showed data from the Central Electricity Authority (CEA). Analysts said the decline in stocks comes on the back of a number factors, including rising demand, supply constraints and logistical issues.

Thanks to the recent drop in bond yields and the dollar, both gold and silver are continuing to make back lost ground. The metals have been further supported by raised geopolitical risks, highlighted by gold’s breakaway gap at this week’s Asian open. The focus will remain on the dollar and yields with the release of key US inflation data today.

As artificial intelligence makes advances in all industries, one company has announced a flagship AI-driven product that will help financial firms with compliance protocols.

Here's a comprehensive look at the highlights and key takeaways: The event opened with a powerful statement by the moderator, Shivananda Shetty, Partner & Lead ESG, KPMG India, who said, «The ESG data is subject to the same scrutiny as the financial data by stakeholders and it is imperative for organizations to have a similar governance structure in place”. This statement served as a prelude to the subsequent discussions. During the webinar, prominent industry leaders provided invaluable insights into the complexities of ESG data.

By Andrea Shalal

Multibagger stock: Shares of JTL Industries Ltd are one of the multibagger stocks that Indian stock market has produced in recent years. The small-cap stock traded ex-bonus recently in September 2023 for issuance of bonus share in 1:1 ratio, which means an eligible shareholder was awarded one bonus share for every one share they held on record date.

Pidilite Industries Ltd. traded at Rs 2479.95 on BSE at 01:39PM (IST) on Thursday, down 0.37 per cent. The stock quoted a 52-week low price of Rs 2250.85 and a high of Rs 2796.15.

PI Industries Ltd. fell 0.12 per cent to Rs 3485.6 in Thursday's session as of 12:32PM (IST) even as the equity benchmark Sensex traded 6.42 points lower at 66466.63. Earlier in the day, the stock witnessed a gap up start to the session.

Associated Press depicted a devastated section of the Gaza Strip, reported The Daily Beast. Later, he removed the image and replaced it with a plain background while maintaining his 'praying for Israel' message.

BSE Sensex closed 393.69 points higher at 66,473.05, while the broader NSE Nifty 50 climbed 121.50 points to 19,811.35. Nifty 50 formed a reasonable bullish candle on the daily chart with minor upper shadow indicating an upside continuation pattern. Also Read: 5 things that changed for the stock market overnight - Gift Nifty to US Fed meeting minutes “Nifty witnessed minor upside breakout of the immediate resistance of around 19,700-19,750 levels, with gap up opening and the present upside gap could be considered as a bullish breakaway gap.

Sovereign guarantee With the US Federal Reserve on a rate-hike spree, 1-year US treasury yields have climbed up from 0.38% in 2022 to 5.59% in October, making it a good time to invest in US debt. Given the inversion in the US yield curve (long-term yields are lower than short-term yields, see chart), the 0-1-year segment offers the highest yields of 5.43% to 5.59%. Compared to this, 10-year US treasuries are offering 4.80%.

Canada is set to welcome 11,000 migrants from Colombia, Haiti and Venezuela this fall, immigration minister Marc Miller said.

hedge funds to produce higher returns with the prospect of interest rates staying higher for longer, a BNP Paribas investor survey showed on Wednesday. Interest rates in big developed economies have shot up since late 2021 to contain inflation, with resilience in the U.S. economy adding to a sense that rates will likely stay higher for longer than initially expected. Investors now expect hedge funds to return an average of 9.75% annually within an average of 19 months, up from 6.85%, according to the survey. However, hedge funds themselves think this will take longer, up to 29 months, the survey showed. «There is a lag for hedge funds to catch up in the rising rate environment,» said Marlin Naidoo, global head of capital introduction at BNP Paribas. «The question now is whether investors will be willing to wait — because that is where the gap is,» said Naidoo. BNP Paribas said historical evidence shows hedge funds tend to perform well in higher and stable interest rate environments and less so when rates are lower. When central banks are in a tightening or loosening cycle, hedge fund performance is not correlated to rising and falling rates, it added. Stripping away the general rise in the MSCI index of world stocks, hedge funds posted on average a 1.10% better performance than three-month Treasury bills from January 2022 to August 2023, BNP Paribas said. Only four of the central banks overseeing the 10 most heavily traded currencies held rate setting meetings in August.

The S&P 500 finished about 50 bps today higher but had been up more than 1% at one point—stocks turnaround after 1 p.m. ET, following a weak 3-Year Treasury auction.

Fasanara Capital led the round for Untangled, which was set up in 2020 by a team with a background in finance, asset origination, and emerging markets bridge the gap between Defi and traditional finance.The platform’s protocol focuses on tokenising real-world private credit assets, such as invoices and SME loans, into on-chain structured credit pools. These pools, in turn, facilitate the issuance of collateralised debt notes to both DeFi and TradFi investors.Tokenisation, says Untangled, takes advantage of blockchain technology to bring traditional assets on-chain.

The Tezos price has witnessed a turbulent 24 hours, rising as high as $0.722733 before dropping 7% to its current level of $0.669953.

Russian oil at the widest premium above a G-7 imposed cap since the curb was introduced, highlighting the market’s importance to Moscow and a gap that may intensify scrutiny of the controversial mechanism. Crude processors in the key importer paid an average of $86 a barrel for Russian shipments in August, according to the Ministry of Commerce and Industry. That’s the biggest spread in dollar terms since the $60-a-barrel limit came into force after Moscow’s invasion of Ukraine in the first quarter of 2022. Oil rallied in the third quarter as OPEC+ leaders Russia and Saudi Arabia choked off some supply to tighten the market.

Federal and Victorian energy ministers have declared confidence in the Australian Energy Market Operator to keep the lights on this summer as it commissions companies to provide an extra 118 megawatts in South Australia and 120 megawatts in Victoria to boost supply before the return of an El Nino weather system.

Mastercard and IT major Bizom today announced a collaboration to extend a holistic digital supply chain financing solution to over 75 lakh micro retailers and 2 lakh distributors of the Consumer Packaged Goods (CPG) industry. Small retailers and distributors in India face several challenges including supply chain disruptions, inventory management, payment issues, limited technical skills and lack of access to capital, that impacts their business operations and growth prospects. According to recent reports, out of over 64 million MSMEs in India, only 14 per cent have access to formal credit. The partnership between Mastercard and Bizom will aim to address this gap and help retailers to grow their business. Mastercard Inc is the second-largest payment-processing corporation worldwide.

Havells India Ltd. traded at Rs 1410.0 on BSE at 11:47AM (IST) on Wednesday, up 0.78 per cent from previous close. The stock quoted a 52-week low price of Rs 1092.0 and a high of Rs 1466.0.