Gap Financial News

The holiday-shortened trading week will focus more on digesting data from last week than on anticipating new data. The key data to watch this coming week is the ISM Services Index, expected to be released on September 6 at 10 AM. Analysts predict that the services composite will dip slightly to 52.5 from 52.7.

India, September 5, 2023 - UPI Merchant UDIR (Unified Dispute and Issue Resolution) system was successfully completed by NPST & NPCI. NPST have completed POC for Realtime refund process with a Marquee PAPG for resolving customer disputes and grievances pertaining to UPI payments, using a system-driven and rule-based mechanism with a minimal manual intervention. While the volume of UPI transactions has been increasing, with a free-market model in UPI is continuing exponential growth, where pricing model and charges are determined by market forces.

Raymond share price surged over 13% to hit a 52-week high on Tuesday's trade after brokerages initiated 'buy' rating on the stock. Raymond stock price opened at intraday low of ₹2,090 apiece in BSE, and touched a intraday high at ₹2,240. According to technical analysts, Raymond share price witnessed a strong gap up opening and has witnessed follow up buying backed with strong volumes.

The State Bank of India (SBI) has become the seventh bank to implement UPI interoperability in its Digital Rupee (e ₹) also called Central Bank Digital Currency (CBDC). With this move, the bank aims to deliver unprecedented convenience and accessibility to its customers. “This cutting-edge feature, accessible through the 'eRupee by SBI' application will empower SBI CBDC users to effortlessly scan any merchant UPI QR code for swift and secure transactions," SBI said in a statement.

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Shree Cements Ltd. fell 0.11 per cent to Rs 25631.4 in Tuesday's session as of 01:44PM (IST) even as the equity benchmark Sensex traded 43.2 points higher at 65671.34. Earlier in the day, the stock witnessed a gap down start to the session.

ICICI Lombard General Insurance Company Ltd. fell 0.55 per cent to Rs 1350.3 at 01:54PM hours (IST) on Tuesday.

SRF Ltd. rose 0.19 per cent to Rs 2416.1 at 12:22PM hours (IST) on Tuesday.

Page Industries Ltd. gained 0.01 per cent to Rs 39608.25 in Tuesday's session as of 11:52AM (IST) even as the equity benchmark Sensex traded 141.21 points higher at 65769.35. Earlier in the day, the stock witnessed a gap up start to the session.

dollar was firm on Tuesday and the Aussie under a little pressure as traders watched out for the Reserve Bank of Australia's interest rate decision with bets that rates may have peaked. The Aussie was 0.5% lower at $0.6431 in early trade. Softer than expected inflation data for July has markets all but certain the cash rate will stay on hold at 4.1% when the RBA announces its decision in the next few hours, far lower than where U.S.

China increasingly isolated and the US and its allies seeking a developing-market champion, India is having a moment. But is it ready? The tailwinds are there. The $3.4 trillion economy is among the fastest growing globally, and India’s population became the largest in the world earlier this year. Prime Minister Narendra Modi’s government has sought to compensate for low private investment by plowing billions into new infrastructure and using a mix of tariffs and incentives to lure global manufacturers, especially those seeking to diversify away from China. India will contribute just over 15% to global growth this year, according to the International Monetary Fund, right behind China’s 35% and more than the entire Western hemisphere’s 14%.

Coal stocks at power plants fell by over 6 million tonnes since July end as peak power demand rose exponentially through August amid deficient rainfall and sultry weather. Coal stocks at power plants stood at 28.9 million tonnes as on Friday against 35.2 million tonnes on July 31, as per data from the national power portal. «There are concerns with regards to the current level of coal stocks, but it is not an alarming situation,» a government official told ET. The government on Friday asked power generation companies to import 4% of their coal requirement till March 2024.

NEW DELHI : With thermal power plants left with just 10 days of coal stock even as power demand soars, the union ministry of power has directed all domestic coal-based power plants to blend 4% imported coal till March 2024. In January, power generation companies (gencos) were asked to blend 6% imported coal till September in order to meet high demand during the summer. In a recent notification the power ministry noted that Grid India has projected continuation of high power demand through FY24 because of which there is a need to continue blending imported coal.

equity market, will be of immeasurable value as SBI Securities enters its next stage of expansion. As a results-oriented leader, Suresh brings a dynamic, forward-thinking mindset to create innovative business and financial strategies that drive both top- and bottom-line growth," said Deepak Kumar Lalla, managing director and CEO, SBICAP Securities Ltd.

Siddaramaiah on Monday praised the past Congress regimes for their contributions to the nation's and the state’s information technology (IT) policies, saying it was the Congress-led government’s IT policy in Karnataka in 1992 — the first in the state — that laid the foundation of a national policy. “Congress governments have always provided political stability, which is good for long-term investments at the state and national level,” he said.

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