Gap Financial News

Bharat Forge Ltd. traded at Rs 1236.6 on BSE at 01:18PM (IST) on Friday, down 0.69 per cent from previous close. The scrip quoted a 52-week low price of Rs 744.0 and a high of Rs 1247.0.

Jubilant Foodworks Ltd. traded at Rs 569.0 on BSE at 12:43PM (IST) on Friday, down 0.18 per cent from previous close. The scrip quoted a 52-week low price of Rs 412.2 and a high of Rs 586.35.

SRF Ltd. traded at Rs 2492.95 on BSE at 11:01AM (IST) on Friday, up 1.11 per cent from previous close. The stock quoted a 52-week low price of Rs 2050.0 and a high of Rs 2636.65.

Nifty is ending the record-breaking year 2023 with a handsome upside of 20%, billionaire banker Uday Kotak on Friday warned Dalal Street's Covid batch of investors of the unpredictability of the stock market, giving the example of Japan. «Many investors have joined post Covid. They have mainly seen upside.

Uday Kotak, the founder and director of Kotak Mahindra Bank, wants you to move away from banks in a bid to create sustained growth story. You heard that right. In so called year-end musings, Kotak highlighted a changing landscape where savers are transforming into investors, presenting challenges for the banking sector regarding deposits and funding costs. «As savers become investors the banking sector faces challenges on its deposits and cost of funds. The large corporate sector has to meaningfully move to capital markets (debt and equity) and away from banks,» Kotak wrote on a Twitter post. «Banks will become distributors of corporate debt rather than storage houses. They will need to penetrate mid sized corporates, MSMEs and consumers,» he added. He also said that we need to keep Japan of the 80s at the back of our mind.

NEW DELHI : The government plans to certify individuals who may not have the prescribed qualifications to be healthcare practitioners but bear knowledge gained from previous generations for certain treatments, such as for snake bites, jaundice, and bone-setting, two officials said. “They have the expertise and experience, but they do not have any qualification or formal degrees and it stands in the way of their social acceptance," one of them said.

The brokerage has been cautious on the mid- and small-cap space for the last three to four months, and following the recent rally, it believes that mega-cap stocks are also no longer value propositions. “It would appear that investors are taking their cues from incremental developments and events and ignoring the fact that absolute valuations may already be pricing in the positive developments (real or even purported),” said Kotak in a note to clients. While the Nifty 50 index has gained a little over 20% so far in 2023, the broader market has seen a significant outperformance, with the NSE Midcap 100 gaining over 45%, and the NSE Smallcap 100 surging nearly 55%. Automobiles and their components, electric utilities, and IT services are among the sectors that have the maximum distortion in terms of price and value, and it would be best if these sectors were avoided, it said. The brokerage cited Bharat Heavy Electricals and NTPC as examples of exuberance among investors, terming the valuations of these state-owned companies on the higher side “by a distance”. While absolute valuations remaining ‘high’ should drive a convergence between prices and value, the current divergence in the market could be sustained if investor sentiment continues to overpower fundamentals, according to Kotak. “The year could finally see a convergence between price and value or a continued large disconnect between price and value, the case for the past 6-9 months,” the brokerage said on Thursday. Incremental news flow that could sustain this ‘price-value’ gap includes the country’s macroeconomic fundamentals, expectations of lower interest rates globally, and the reduced risk of elections after the BJP’s strong performance in the recent

Why do we need a pan-India retail policy? India’s offline retail market was estimated at $860 billion in 2022; it is expected to nearly double by the end of the current decade. Online retail, on the other hand, is a $70-billion market and is expected to grow at a rapid pace, according to a 2023 report by consulting firm Deloitte. However, the sector lacks a cohesive policy that governs retail trade pan-India.

Nikki Haley faced a New Hampshire voter's question on Wednesday, criticizing her for not addressing slavery in her response about the Civil War's cause. As the former governor of South Carolina, she, in the past, advocated for removing the Confederate battle flag from the statehouse grounds.

No Taxation for Annuity Plans to Benefit Both Retirees and the Industry: Many Indians don't save enough for retirement, and the gap between needed and available retirement funds is expected to reach $85 trillion by 2050. To help close this gap, consider these steps: Investing in pension and annuity products is crucial for income after retirement. Making taxes simpler or removing them for these products will encourage more people to invest in these important financial protections.

Interim Budget: India's fiscal deficit might surpass the government's 5.9% target for FY24 due to escalated revenue expenses and a lower-than-expected nominal GDP, according to India Ratings and Research. The agency predicts that despite increased tax and non-tax revenue, an anticipated second supplementary demand for grants could escalate the deficit to 6% of GDP, slightly exceeding the budgeted limit. “Higher-than-budgeted revenue expenditure triggered through the first and likely second supplementary demand for grants in combination with lower-than-budgeted nominal GDP will push the fiscal deficit to 6.0% of GDP, 10bp higher than budgeted 5.9%,” said Ind-Ra researchers. While announcing the federal budget for this fiscal year, Finance Minister Nirmala Sitharaman said India aims to narrow the fiscal gap to 5.9% of gross domestic product from 6.4% in the last financial year. There are mushrooming speculations that the Narendra Modi-led government will soon have to unleash various fiscal measures and particularly so as to rein in galloping inflation rate. India's fiscal deficit for the first seven months of this fiscal year through October stood at 8.037 lakh crore rupees, or 45% of annual estimates, government data showed today. The fiscal deficit marginally narrowed from 45.6% reported in the comparable year-earlier period.

By Ankur Banerjee

By Greg Bensinger

₹945 crore, according to information available with the government. Sood said India has already made significant progress in certain key areas of technology, especially in digital public good, which has helped transform the payment and fintech segments. This ground-breaking public-private partnership can be replicated in education to enhance access to education in a big way, he said.

As we approach the end of 2023, investors are proactively fine-tuning their portfolios for the upcoming year, 2024.

Last morning after checking the Asian markets, I noticed that the VIX was up 5.5%. I knew what was coming next: We would just be grinding volatility lower all day and pushing stocks up.

In the rapidly evolving landscape of finance, cryptocurrencies have already begun to significantly reshape the global financial ecosystem. The emergence of blockchain technology and decentralized finance (DeFi) has introduced novel paradigms in the way individuals and businesses interact with money, investments, and transactions. As we move towards a more digitized and interconnected future, the potential for blockchain and cryptocurrencies to revolutionize various industries, including finance, is undeniable. At the forefront of this revolution is Retik Finance, a platform that aims to revolutionize the global financial landscape with its innovative DeFi solutions.

Sensex rallied over 700 points on Wednesday to scale the 72,000 mark for the first time. Nifty, too, hit a fresh all-time peak of 21,654.75 amid all-round buying in banks, auto, metals and IT stocks. The market rally was broad-based but Nifty's 1% rise left smallcap and midcap indices behind as investors found more value in bluechips after the non-stop rally seen in smaller stocks. UltraTech Cement ended over 4% higher, along with other cement stocks, after Nomura upgraded the sectoral outlook. Among bluechips, Hindalco and Bajaj Auto ended 4% higher while heavyweight HDFC Bank advanced 1%. The combined market capitalisation of all BSE-listed stocks rose by Rs 2.5 lakh crore to Rs 361.4 lakh crore. Here are the key factors behind today's rally:

Indian Oil Corporation Ltd. traded at Rs 126.45 on BSE at 01:45PM (IST) on Wednesday, down 1.21 per cent from previous close. The stock quoted a 52-week low price of Rs 72.35 and a high of Rs 128.95.

Marico Ltd. traded at Rs 531.7 on BSE at 01:24PM (IST) on Wednesday, up 0.44 per cent from previous close. The stock quoted a 52-week low price of Rs 462.95 and a high of Rs 595.0.

InterGlobe Aviation Ltd. traded at Rs 2930.15 on BSE at 01:29PM (IST) on Wednesday, up 0.31 per cent from previous close. The stock quoted a 52-week low price of Rs 1810.45 and a high of Rs 3006.9.