Share market and trading News

German sandal maker Birkenstock had an underwhelming debut on Wall Street, with its stock ending over 12% below its IPO price. The shares started trading at $41 after the IPO was priced at $46, raising $1.48 billion. The decline marks the worst debut by a $1 billion company in nearly two years. This follows the weak performances of other high-profile market debuts including Arm Holdings, Instacart, and Klaviyo. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/sSXCab6

The independent expert group on strengthening multilateral development banks (MDBs) has called for quicker decision making, less risk aversion, and increased private capital. The World Bank is already taking action on these recommendations. The panel, established by India, estimates an annual requirement of $1 trillion to address climate change and other challenges, with half coming from lending and the rest from the private sector. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/aRZG1e2

According to a study by HirePro, recruiters are relying less on resumes and more on personal interactions to hire candidates. The study found that resumes are often inaccurate and do not provide enough information for recruiters to judge a candidate's skills and behavioral attributes. It also revealed that a significant number of candidates exaggerate their qualifications and lie on their resumes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hzcp8Kd

Dalal Street, the Indian stock market, saw a surge in the sensex, closing at 66,079 with a 567-point gain on Tuesday. This increase was attributed to strong buying by domestic investors and short-covering by speculators, despite foreign investors being net sellers. Falling crude oil prices also contributed to improved investor sentiment. Stocks from various sectors, including ICICI Bank, Infosys, and HDFC Bank, played a significant role in this gain. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/D7aKqm9

According to official data, gross direct tax receipts in India reached Rs 11.1 lakh crore as of October 9, 2023, marking an 18% increase from the same period last year. Net direct tax collection, after refunds, stood at Rs 9.6 lakh crore, a 21.8% rise. This collection accounts for 52.5% of the total budget estimates for direct taxes in the current fiscal year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HuPwmE1

The Reserve Bank of India (RBI) has instructed Bank of Baroda to stop adding customers to its mobile app due to issues with the onboarding process. This decision was made after complaints were received about bank employees using the mobile numbers of strangers to meet mobile banking enrolment targets. Bank of Baroda has been directed to rectify these deficiencies before onboarding new customers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5ct9JRn

India's natural gas demand is set to increase by 4% in 2023 and is projected to grow by an average annual rate of 8% until 2026, driven primarily by the power, petrochemical, and fertilizer sectors, according to the International Energy Agency. This growth contrasts with the global trend, where gas demand is expected to slow to 1.6% annually between 2022 and 2026, compared to a 2.5% annual increase from 2017 to 2021. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uLr9TDV