Gap Financial News

Odisha were a country, its economy would be larger than Tanzania's, Sri Lanka's or Ghana's. The state has nearly bridged the gap with the national per-capita income. In 2003, its per-capita income was 60% of the national average, and today, it's close to 90%. This convergence was possible as Odisha's economy grew faster (7.4%) than the national average (6.2%). Its population growth rate has slowed to 0.6% a year, compared to 0.9% for the nation. Growth momentum has been evident across sectors, including agriculture, manufacturing and services. Additionally, at nearly 10% of its economy and growing at 8% annually, mining has contributed to the state's economic well-being and robust public finances. Thanks to mining royalties, the state has a unique fiscal advantage. It collected non-tax revenue to 3.5% of its GDP a year, compared to 1% for an average Indian state during the last decade.

Queensland’s Crime and Corruption Commission (CCC) has identified gaps in state laws that inadvertently encourage criminal use of digital assets, prompting the agency to propose a modernization of Queensland’s asset confiscation laws.

Icra on Wednesday revised downwards its outlook for the banking sector to 'stable' from 'positive' on expectations of a moderation in credit growth and profitability. The agency said the credit growth will moderate to 11.6-12.5 per cent in FY25 from 16.3 per cent (excluding the impact of the HDFC twins merger) in FY24, while the lower net interest income margins on higher deposit rate payouts will lead to a dip in profits. On the asset quality front, it expects a further moderation in the gross non-performing assets ratio for the banking system at 2.2 per cent by March 2025 from 3 per cent likely in March 2024, its vice president Sachin Sachdeva told reporters. This will be the lowest level since September 2011, Sachdeva added.

When billionaire philanthropists, celebrities, global embassies, and the National Football League want to lend a helping hand to American veterans, they increasingly turn to one source: the Bob Woodruff Foundation

Shree Cements Ltd. traded at Rs 25753.05 on BSE at 02:09PM (IST) on Wednesday, down 0.86 per cent from previous close. The stock quoted a 52-week low price of Rs 22601.3 and a high of Rs 30710.15.

women in tech ponder leaving their organisation over the next 12 months, according to Skillsoft’s annual Women in Tech report. When asked to state their reasons for choosing to leave a job or employer, 40% cited department or company management as the top factor, 39% cited lack of training and growth, and only 26% said compensation was an influence.

Pidilite Industries Ltd. traded at Rs 3004.6 on BSE at 12:53PM (IST) on Wednesday, down 0.21 per cent. The stock quoted a 52-week low price of Rs 2293.1 and a high of Rs 3073.2. Earlier in the day, the stock saw a gap down opening.

Sensex, which crossed the 75,000 milestone in Tuesday's session, had broken the 25,000 barrier 10 years ago on May 16, 2014, when Prime Minister Narendra Modi won the Lok Sabha elections. This translates into a return of three times on the index itself. The market capitalisation of all BSE-listed stocks on that day 10 years ago was just Rs 81 lakh crore and has now jumped multi-fold to an all-time peak of Rs 400 lakh crore, making India the fifth largest stock market in the world.

Marico Ltd. rose 0.38 per cent to Rs 511.6 at 12:37PM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 18,923 shares with a turnover of Rs 0.97 crore till 12:37PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 45.37, while the price-to-book value ratio stood at 16.29.

Havells India Ltd. traded at Rs 1508.6 on BSE at 12:48PM (IST) on Wednesday, down 0.27 per cent from previous close. The scrip quoted a 52-week low price of Rs 1158.5 and a high of Rs 1590.9.

Cholamandalam Investment & Finance Company Ltd. traded at Rs 1199.0 on BSE at 12:43PM (IST) on Wednesday, down 0.9 per cent from previous close. The scrip quoted a 52-week low price of Rs 815.3 and a high of Rs 1309.75.

Bharat Forge Ltd. traded at Rs 1173.25 on BSE at 10:25AM (IST) on Wednesday, up 2.1 per cent from previous close. The stock quoted a 52-week low price of Rs 744.0 and a high of Rs 1330.0.

Paytm Payments Bank fiasco, the Reserve Bank of India (RBI) is insisting on KYC (Know Your Customer) compliance for accounts purchased by asset reconstruction companies from banks and non-banking finance companies. Earlier, asset reconstruction companies (ARCs) would ask creditors selling bad loans for central KYC records, but now the RBI is insisting on full KYC. «When purchasing portfolios from banks/NBFCs, RBI requires ARCs to maintain KYC documents for all accounts. This seems to be a fallout of the Paytm incident,» said an ARC executive.

If the Terminator movies were right about one thing, it’s that the machines – and humans’ trust in them – are indeed rising.

Nifty on Tuesday ended about 23 points lower to form a small negative on the daily chart, indicating that bulls are getting tired at new highs. Nifty is currently placed near the crucial overhead resistance of the ascending resistance line and also the important Fibonacci extension around 22,750-22,800 levels. The immediate support is at 22,500 levels and a decisive break below this support could trigger a short-term downward correction in the market, said Nagaraj Shetti of HDFC Securities.

Colgate-Palmolive (India) Ltd. fell 2.68 per cent to Rs 2626.35 in Tuesday's session as of 02:04PM (IST) even as the equity benchmark Sensex traded 22.48 points lower at 74720.02. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 2813.8 and a 52-week low of Rs 1520.3 on NSE. Around 12373 shares changed hands on the counter till 02:04PM (IST).

Day trading stocks for today: The Indian stock market began the fresh week on a higher note as two out of three benchmark indices touched a new peak on Monday and the BSE listed stocks crossed ₹400 lakh crore. The Nifty 50 index scaled a new peak of 22,697 mark while the BSE Sensex hit a new high of 74,869 during Monday deals. In the broad market, the small-cap index came close to its lifetime high while the mid-cap index climbed to a new peak of 41,113.

Deposit growth, too, has gathered pace on the back of aggressive competition, a push for deposits, and competitive TD rates offered by banks. As a result, the gap between credit and deposits narrowed to 3.4% in March 2024.

Siemens Ltd. traded at Rs 5707.1 on BSE at 11:06AM (IST) on Monday, up 1.24 per cent from previous close. The stock quoted a 52-week low price of Rs 3240.0 and a high of Rs 5772.6.

Avenue Supermarts Ltd. traded at Rs 4743.65 on BSE at 10:30AM (IST) on Monday, up 2.61 per cent from previous close. The scrip quoted a 52-week low price of Rs 3353.05 and a high of Rs 4746.0.

Prashant Kishor said the only way the Congress party can revive from here is for Rahul Gandhi to step back and let someone else take charge. "This according to me is also anti-democratic," said Kishor told PTI pointing out that Rahul Gandhi has been running the party for the past 10 years unsuccessfully and still he is not willing to step aside to let somebody else steer the Congress party. "When you are doing the same work for the last 10 years without any success, then there is no harm in taking a break...