Gap Financial News

Japanese Finance Minister Shunichi Suzuki said on Monday there were some speculative moves in the currency market that did not reflect economic fundamentals, repeating his warning against excessive yen declines. «We will watch currency market developments with a strong sense of urgency, and will respond appropriately against excessive moves without ruling out any options,» Suzuki told parliament.

The Securities and Exchange Commission is closing a loophole that let some advisors register with the federal regulator as RINOs – robo-advisors in name only – by amending an old rule.

During the past decade (2013-14 to 2022-23), India’s annual total investments have ranged between 30% and 34% of GDP, barring a dip to 28% of GDP in 2020-21. This is if we measure this proportion using current prices or nominal data (let us refer to it as the ‘nominal investment ratio’). Usually, all ratios— investment, savings, fiscal deficit, current account balance, corporate profits, et al—are measured in nominal data or at current prices.

Andhra Pradesh Chief Electoral Officer (CEO) Mukesh Kumar Meena said the Election Commission is striving to increase the polling percentage in about 20 urban Assembly constituencies where it is lower than the national average of 68 percent. Visakhapatnam, Nellore, Kurnool town, Rajamahendravaram, Vijayawada and others are some of the constituencies 'exhibiting urban apathy' towards exercising franchise. «Our (overall) per cent of polling is on the higher side at 79 per cent, but still there are certain urban areas where it is below the national average. We are now trying to increase the percentage in these places so that our overall voting percentage also goes up. We appeal to the people to vote,» said Meena in a PTI interview.

The FAME II scheme, with a budget outlay of Rs 10,000 crore, was introduced in 2019 for a period of three years. The scheme was targeted to support 7,000 e-buses, 5 lakh e-3 Wheelers, 55,000 e-passenger cars and 10 lakh e-two wheelers. Later another Rs 1500 crore was allotted for the scheme. As of 30th March, 15,42,452 electric vehicles have been subsidized under the scheme. It includes 13,64,929 two-wheelers, 15,71,71 three-wheelers and 20,352 four-wheelers. Tata motors was the biggest beneficiary of FAME II for making e-3 and e-4 wheelers and Ola was the the biggest beneficiary under the for e-2-wheelers segment. A total of 221 models of electric vehicles benefitted under the FAME II scheme.

BSE PSU index, a barometer of public sector enterprises' performance, zoomed from 9,497 points to 18,274 points, translating into a stellar gain of 92.4%. The government's accelerated capex spending, coupled with sector-specific reasons, has helped PSU stocks achieve record gains in FY24. In the recent interim budget (FY24-25), the government raised the capital outlay by 11.1% to ₹11,11,111 crore, equivalent to 3.4% of GDP.

VIP Industries jumped nearly 15% on Thursday to hit the day’s high of Rs 534 on the NSE after a couple of domestic brokerages upgraded the stock following the company’s analyst meeting. Prabhudas Liladher and Centrum have raised their ratings on the stock to ‘Buy’ with a revision in their price targets. The stock provides valuation comfort on the back of correction and management's focus on innovation, premiumisation, and improving supply chain gaps is lending comfort to these brokerages.

Au Small Finance Bank Ltd. traded at Rs 568.35 on BSE at 12:07PM (IST) on Thursday, up 1.24 per cent. The stock quoted a 52-week low price of Rs 550.8 and a high of Rs 813.0. Earlier in the day, the stock saw a gap up opening.

There’s a notable gender gap in retirement confidence and readiness among US workers, particularly as an increasing number of Americans reach the age of 65, according to a recent survey conducted by the Nationwide Retirement Institute.

One Chicago' series was delayed and it will now have only 13 episodes. Besides, the episodes will be shortened and now 'Chicago Med season 9', 'Chicago Fire season 12', and 'Chicago PD season 11' will be the shortest seasons of each series. But it is expected that every show of the popular NBC franchise may be renewed for additional seasons, and the next seasons will likely return to the regular 22-episode count.

₹50-60,000 crore, a tiny fraction of India’s overall market capitalization. Further, F&O positions are skewed towards options in India. Globally, option volumes are around the same level as futures, but in India, options are 50-100 times futures.

Sensex declined 361.64 points to close at 72,470.30, while the Nifty 50 settled 92.05 points, or 0.42%, lower at 22,004.70. Nifty 50 formed a small positive candle on the daily chart with a gap-down opening (body gap, not a western gap). “This candle pattern was formed beside the long bull candle of Friday.

import of solar module import called the approved list of module manufacturers (ALMM), beyond March 31, people aware of the development said. The Ministry of New and Renewable Energy, in a meeting with solar project developers and module manufacturers Tuesday, took a stock of the capacity additions and commissioning timelines, one of the persons said, adding that overall view was that a further relaxation is not required as adequate time had been given to the industry. A final call on the issue would be taken shortly after taking into account all considerations, another person said, adding that some concession for commissioning could be given for modules that have reached the site before March end.

Canada must tackle weak productivity to inoculate the economy against factors that will drive future inflation, such as the pullback from globalization, said Carolyn Rogers, senior deputy governor of the Bank of Canada.

pioneering vaccine technology to BioMed Pvt. Ltd., a manufacturing company specializing in high-quality vaccines. This technology entails a recombinant vector vaccine designed specifically for combating the classical swine fever virus in pigs and wild boars, filling a significant gap in India's vaccine landscape. This first recombinant virus-based vaccine for pigs harnesses a reverse genetic platform pioneered and refined at IIT Guwahati. Swine fever, a highly contagious disease among pigs, poses a severe threat with a very high mortality rate, although it does not affect humans. In India, instances of this disease have been frequently observed in northeastern states, as well as in Bihar, Kerala, Punjab, Haryana, and Gujarat, among others.

Hong Kong has increased the income tax paid by anyone earning over $640k and above to 15%, but compared to Singapore, Hong Kong looks generous. In Singapore, income tax is 15% from $89k and 22% from $237k and above.

₹2,360. Given reasonable prices, the brokerage has also increased Metropolis Healthcare's fair value to ₹1,600, keeping its Reduce rating. Following the brokerage's upgrade, Dr Lal Pathlabs share price surged over 5% on Tuesday's session, while Metropolis Healthcare share price rose 2.5%.

By Sashi Kumar

Asian equities traded within narrow ranges early Monday as investors looked ahead to a busy week of economic data including the Federal Reserve’s preferred inflation gauge. China’s currency pared some of Friday’s losses following support by authorities. Shares in Australia and Hong Kong edged higher, while those in Japan and mainland China slipped. US equity futures were little changed after a muted end to the week on Wall Street with the S&P 500 declining 0.1% and the Nasdaq index rising by the same margin on Friday.

As the 2024 bull-run gains momentum, investors are shifting their focus to utility tokens, recognizing their potential for significant gains in the evolving crypto landscape. Among the standout performers are Chainlink (LINK) and Healix (HLX), two utility tokens that are capturing the attention of savvy investors seeking innovative opportunities for growth and profitability.

It is long past the time that we face the fact that “Social Security” is facing a retirement crisis. In June 2022, we touched on this issue, discussing the stark realities confronting Social Security.