Gap Financial News

GTA Token, the pioneering cryptocurrency bridging the gap between blockchain technology and gaming, has achieved an astonishing growth of 200x within just one month of its inception. This meteoric rise has propelled GTA Token to claim the TOP-1 spot for several consecutive weeks in the category of best assets on both Arbitrum and SushiSwap. Screenshots showcasing this remarkable achievement are readily available on the project’s official social networks, serving as a testament to its rapid ascent in the competitive cryptocurrency landscape.

Gopal Krishna Gokhale Bridge, demolished in 2022 and subsequently reconstructed, has left commuters surprised by a glaring oversight — a 6-foot vertical gap between the bridge and the adjacent Barfiwala flyover, a vital link for city traffic. The revelation of this misalignment has prompted a flurry of reactions from citizens, with many taking to social media platforms to express their astonishment and amusement at the peculiar situation. Memes and humorous videos depicting the unusual gap have quickly spread across online communities, reflecting the incredulity of Mumbai residents. Adding to the conversation, the renowned dairy brand Amul has weighed in with its signature wit and humor.

SYDNEY (Reuters) — Australia said on Thursday that it would make pension contributions for workers who take paid parental leave, the latest effort by the centre-left Labor government to address gender imbalance in the workplace.

Developing-world currencies were mixed on Tuesday as traders awaited key speeches and data that could shed light on the outlook for US interest rates while losses in Hong Kong-listed tech stocks drove emerging-market equities lower. 

MediaTek is now turning its focus to the fast-growing premium segment with its latest breed of 5G chipsets, having attained a dominant 50% market share, outpacing rival Qualcomm in the highly competitive India smartphone market, company executives and market trackers said. The chipmaker is now working with every Android phone brand with the exception of Google, with over 15 design wins in the first quarter of 2024 itself, far outpacing that of rival Qualcomm, carrying on the momentum from 2023. "Samsung and Nothing were the only two brands left who were not using MediaTek chipsets. With the recent launches this week, those gaps in the portfolio have also been plugged," said Anku Jain, managing director, MediaTek India.

Women face tough financial prospects in retirement.

Marico Ltd. fell 2.35 per cent to Rs 506.3 in Wednesday's session as of 01:54PM (IST) even as the equity benchmark Sensex traded 122.18 points higher at 73799.31. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 595.0 and a 52-week low of Rs 462.95 on NSE. Around 153449 shares changed hands on the counter till 01:54PM (IST).

jobs with an investment of ₹1,520.69 crore in companies boasting a turnover of ₹5 crore, India Today reported. Also Read | Credit Card Fraud: American Express blames third-party vendor for data breach, says report It added that despite a reported investment of ₹1,520.69 crore by the state government, the outcome yielded less than 6,000 new jobs in Kerala during the specified period.

power ministry has asked domestic coal-based thermal power plants to continue blending six per cent of imported coal until June 2024 amid the projection of an all-time high peak power demand of 250 GW in summer. In a direction issued in October 2023, the power ministry had asked all thermal power plants to continue blending imported coal in view of supply issues and rising demand for electricity till March 2024 and also increase the blending proportion of imported coal from four per cent to six per cent in domestic fuel. In a similar direction issued to power plants on Monday, the ministry noted that the peak power demand is likely to touch 250 GW in the summer season (April to June 2024). The ministry has also observed that despite the increase in the loading of domestic coal rakes, the supplies of dry fuel will remain constrained due to various logistics issues associated with the railway network.

₹8,600 crore versus ₹4,374 crore for Ashok Leyland. The sheer size of TaMo deserves a valuation premium. Assuming a 10% premium to Ashok Leyland, the FY24 EV/Ebitda multiple of TaMo’s CV business works out to about 12 times, valuing the segment at ₹103,200 crore.

Shares are mostly lower in Europe and Asia following a decline on Wall Street

The S&P 500 finished lower yesterday, dropping by around ten bps and led lower by Apple (NASDAQ:AAPL), Tesla (NASDAQ:TSLA), and Alphabet (NASDAQ:GOOGL).

Mercedes-Benz expects India to become its third biggest market in its 'Region Overseas' over the next 2-3 years with demand anticipated to remain strong for luxury products, according to a senior company executive. The Region Overseas for Mercedes Benz comprises 118 countries, excluding North America, Europe and China. India is the fifth largest market in the region after Japan, South Korea, Australia and Turkey. The sales gap between India and Turkey is around 8,000 units per year.

MphasiS Ltd. fell 2.27 per cent to Rs 2538.85 at 01:50PM hours (IST) on Tuesday. 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 4,537 shares with a turnover of Rs 1.15 crore till 01:50PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 30.58, while the price-to-book value ratio stood at 4.27.

Colgate-Palmolive (India) Ltd. fell 1.47 per cent to Rs 2540.0 at 01:35PM hours (IST) on Tuesday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 3,456 shares with a turnover of Rs 0.88 crore till 01:35PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 54.62, while the price-to-book value ratio stood at 23.88.

Zee Entertainment Enterprises Ltd. gained 0.19 per cent to Rs 155.3 in Tuesday's session as of 12:08PM (IST) even as the equity benchmark Sensex traded 223.12 points lower at 73649.17. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 299.5 and a 52-week low of Rs 152.5 on NSE. Around 656673 shares changed hands on the counter till 12:08PM (IST).

Shriram Finance Ltd. fell 0.63 per cent to Rs 2428.7 in Tuesday's session as of 11:52AM (IST) even as the equity benchmark Sensex traded 275.61 points lower at 73596.68. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 2535.0 and a 52-week low of Rs 1202.8 on NSE. Around 7459 shares changed hands on the counter till 11:52AM (IST).

United Spirits Ltd. fell 0.04 per cent to Rs 1164.4 at 11:16AM hours (IST) on Tuesday. Earlier in the day, the stock saw a gap down start to the session. As per data available on BSE, total traded quantity on the counter stood at 7,002 shares with a turnover of Rs 0.82 crore till 11:16AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 66.65, while the price-to-book value ratio stood at 9.17.

Shares are mixed in Asia after China's premier said the country's target for economic growth this year is around 5%, in line with expectations

SRF Ltd. traded at Rs 2406.9 on BSE at 10:15AM (IST) on Tuesday, up 1.37 per cent from previous close. The stock quoted a 52-week low price of Rs 2050.0 and a high of Rs 2636.65.

In the consumption theme, Siddhant Chhabria, Fund Manager at Mirae Asset Investment Manager, says he is overweight consumer discretionary, new-age and building materials. “We are also bullish on real estate upcycle and believe building materials is the best proxy to play the upcycle. New age businesses provide a longer runway for growth and most of these companies are now pivoting towards profitability,” he says. Edited excerpts from a chat: What are your key observations from the Household Consumption Expenditure Survey, especially given there has been a slowdown in the sector? Siddhant Chhabria: As per the Household Consumption Expenditure Survey 2012-23, there are 3 key takeaways: