Trends Financial News

Subscribe to enjoy similar stories. Mumbai: Indians are delaying repayments on credit cards and personal loans, leading to a rise in delinquencies after months of bingeing on small-ticket consumption loans. The volume of credit card dues where repayments are delayed by over 90 days has increased 17 basis points (bps) year-on-year to 1.8% in June, showed data from credit bureau TransUnion Cibil.

Vishwaraj Sugar Industries Ltd.(up 7.06%), Ponni Sugars(Erode)Ltd.(up 3.98%), Dalmia Bharat Sugar and Industries Ltd.(up 3.68%), Shree Renuka Sugars Ltd.(up 2.84%), Dhampur Sugar Mills Ltd.(up 2.67%), Ugar Sugar Works Ltd.(up 1.94%), Dwarikesh Sugar Industries Ltd.(up 1.92%), Avadh Sugar & Energy Ltd.(up 1.15%), EID Parry(India)Ltd.(up 1.11%) and KM Sugar Mills Ltd.(up 1.06%) stood among the top gainers.

Shares of Axis Bank Ltd.(up 2.31 per cent), Federal Bank Ltd.(up 1.07 per cent), HDFC Bank Ltd.(up 0.63 per cent) and ICICI Bank Ltd.(up 0.4 per cent) ended the day as top gainers in the pack.

Subscribe to enjoy similar stories. Amid the debate about whether India’s growth story has failed to create enough jobs, the Periodic Labour Force Surveys (PLFS) show a significant decline in the unemployment rate over the years. It nearly halved to 3.2% in 2023-24 (July-June) compared to 6.1% in 2017-18.

Aditya Birla Renewables Ltd (ABReL) has raised Rs 2,500 crore from markets through allotment of non-convertible debentures on a private placement basis. ABReL is a subsidiary of Aditya Birla group firm Grasim. The company allotted 2,50,000 unsecured, listed, rated, redeemable NCDs of face value of Rs 1 lakh each on September 24, 2024, Grasim Industries said in a filing.

Varun Beverages Ltd. traded at Rs 635.5 on BSE at 12:53PM (IST) on Wednesday, down 1.77 per cent from previous close. The stock quoted a 52-week low price of Rs 331.28 and a high of Rs 682.84.

Canara Bank slipped 1.55 per cent to Rs 107.6 in Wednesday's trade as of 12:57PM (IST). It hit a high of Rs 109.35 and low of Rs 107.3 during the session. The stock quoted a 52-week high price of Rs 129.35 and a low of Rs 68.44. The return on equity for the stock stood at 18.4 per cent. About 635,148 shares have changed hands on the counter so far.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. traded 1.26 per cent up in Wednesday's trade at 10:35AM (IST). Around 1,907 shares changed hands on the counter. The scrip opened at Rs 5370.25 and touched an intraday high and low of Rs 5449.6 and Rs 5354.1, respectively, in the session so far. The stock of <a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. quoted a 52-week high of Rs 5582.85 and a 52-week low of Rs 3300.0.

India Power Corporation Ltd.(up 9.08%), Reliance Power Ltd.(up 5.00%), Ravindra Energy Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), KPI Green Energy Ltd.(up 4.30%), Power Grid Corporation of India Ltd.(up 4.22%), Hitachi Energy India Ltd.(up 2.87%), KEC International Ltd.(up 2.05%), Gujarat Industries Power Company Ltd.(up 1.64%) and CESC Ltd.(up 1.59%) were among the top gainers.

Lupin Ltd. gained 0.37 per cent to Rs 2222.5 in Wednesday's trade as of 10:29AM (IST). The stock hit a high price of Rs 2229.0 and low of Rs 2213.75 during the session.

«So, assuming 70% market share for IEX, which is currently at 84%, I think EPS downgrade could be 20% based on FY27 estimates. And assuming 60% kind of market share for IEX, then EPS downgrade could be around 30% for FY27,» says Rupesh D Sankhe, Elara Capital. The market coupling, that is surely going to challenge IEX's market dominance. I mean, it currently holds about that 84% lion's share of the power trading business. Back of the envelope calculations, what is the kind of dent that IEX is likely to see if and when this is going to be put in place? Rupesh D Sankhe: See, definitely, the market coupling is negative for IEX because as of now, there are two key products which are there, like Day Ahead Market and RTA where IEX is enjoying close to 97% market share. This product is not still available with a new exchange like HPX. The product which is there like a Term Ahead Market where market share of IEX is 60%. So, we can expect once market coupling gets implemented, this product will get launched, DAM and RTA and definitely the market share could come down to 60-70% also.

BEIJING — China's slowing economy needs more than interest rate cuts to boost growth, analysts said.

The Aussie peaked at $0.6907 in the early Asian session, its highest since February 2023, while the kiwi rose to a nine-month top of $0.6353, with both currencies extending their rallies from the previous session.

Gold prices were steady near record highs on Wednesday, as a weaker dollar and an escalated conflict in the Middle East lifted bullion's safe-haven appeal, while investors braced themselves for new signals on the U.S. interest rate trajectory. FUNDAMENTALS

Sensex rising above 85,000 and Nifty breaking 26,000 on Tuesday. Nifty made a new all-time high for the fifth consecutive session amid continued buying in index heavyweights. «Nifty crossed 1000 points in 38 trading sessions supported by positive domestic cues, healthy FIIs, and the start of the rate cut cycle by the US Fed. We expect the ongoing momentum to continue in the market with sectorial rotation. Investors would watch out for US Consumer Confidence data,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal.

Subscribe to enjoy similar stories. “Sapne dekhna achhi baat hai", a short video of Benjamin Joby reciting an inspirational quote starting with this phrase--Hindi for ‘it’s good to dream’--has gone viral. The clip, posted from his handle @benjamin_p_joby with 185,000 followers on Instagram, has been shared by twice the number of users.

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Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

Competition Commission of India (CCI) on Tuesday approved the proposed acquisition of stakes in Home Credit India Finance by TVS Holdings, STPL, Premji Invest Group as well as other related transactions. The deal includes acquisition of 80.74 per cent, 8.47 per cent and 10.79 per cent of the issued and paid-up share capital of Home Credit by each of TVS Holdings Ltd (TVSH), STPL Trading and Services Pvt Ltd (STPL), and PI Opportunities Fund-II (PIOF), respectively. The regulator also granted its nod for the acquisition of 2.6 per cent, 4.3 per cent, 2.7 per cent, and 90.4 per cent of the equity share capital of STPL by K Gopala Desikan, Anuraag Agarwal, V Ganesh, and GWCF, respectively.

Multi Commodity Exchange of India (MCX) has revised transaction fees on futures and contracts effective from October 1, 2024. For futures contracts, the transaction fee will be Rs 2.10 per lakh of turnover value while for options contract, it will be Rs 41.80 per lakh of premium turnover value, MCX said in a circular issued on Tuesday.

A new report says a boost in spending on home renovations during the pandemic has helped contribute to higher prices for single-family homes despite downward market pressure.