Market and Business News

90% flight preparation Airports are being set up on the assumption that 90 per cent of flights will start when the lockdown opens after May 3. Some airports have been closed since March 8. The lockdown will open and the airport will be re-equipped as per government guidelines. Prior to the lockdown, domestic and international flights combined totaled 6,800 daily flights. Now, after the lockdown, the number of flights will come down to 50 per cent. Shikha Sharma as Google Pay Advisor Former Axis Bank CEO Shikha Sharma has been appointed as a consultant to Google Pay India, a widely used digital payment application. Google Pay is widely used in UPI payments in India. During the lockdown, Google set up a system like Near Buy Spot for essentials in Bangalore. Mrs. Shikha Sharma has made many successful efforts in the use of technology in banks. Apple-Adobe towards North India The China-infatuation of many companies has waned since the Corona virus caused the condition. According to a...

- Challenges on the liquidity front will intensify in the near future and gold lending will increase when credit is tightened. Mumbai, Ta. 30 April 2020, Thursday High gold prices and lockdowns have led to a slump in lending to financial lenders, which has led to a surge in gold loans. According to money lenders, a major shift in the finance front amid a nationwide lockdown has once again led to an increase in gold loans secured by gold jewelery compared to retail loan products. Due to the rising price of gold, borrowers get higher loan amounts. So people prefer gold loans over other loans. Gold loan is a hot favorite financial product for both creditors and needy people in adverse circumstances. For creditors this is a safe asset that increases income and profits and it does not matter if the risk profile of the borrower deteriorates as income declines. There is a safer option for the borrower to meet his short-term financial needs. Given this theory, the demand for gold loans is...

Washington, Ta. 30 April 2020, Thursday At the end of the two-day meeting, the US Federal Reserve reiterated that it would make every effort to revive the country's economy by keeping interest rates close to zero. The impact of the coronavirus is likely to have a serious impact on the country's economy not only in the short term but also in the medium term. In a statement issued after a two-day meeting by videoconferencing, the Federal Reserve said it would use every means at its disposal to support the US economy in the face of the current challenges, and thus advance its goal of providing jobs and price stability. Within a few weeks, the unemployment rate in the United States has skyrocketed, with more than 270 million people applying for unemployment benefits. For the first time since the Great Recession, the United States has seen such a sharp decline in economic activity. Industries and businesses across the country have been forced to shut down to prevent the spread ...

(Commercial Representative) Mumbai Ta. 30 April 2020, Thursday Reliance Industries Ltd has decided to cut the salaries of its employees earning more than Rs 12 lakh by 10 per cent due to declining revenue due to the Koro epidemic in the country. With this, the chairman of the company Mukesh Ambani has decided to give up his full compensation. The company, including the board of directors, executive directors and other senior executives, has decided to cut compensation by 30 to 40 per cent. Employees of Reliance Hydrocarbon Business whose salary is more than Rs 15 lakh will be given a fixed 10 per cent cut, while those earning less than Rs 15 lakh will not be given any reduction. With this, the company has postponed giving performance based benefits and bonuses.

- Digital services revenue rises 20% to Rs 12.5 crore - Retail business revenue rises 2.4 per cent to Rs 2,711 crore (Commercial Representative) Mumbai Ta. 30 April 2020, Thursday Reliance Industries Ltd has reported weaker-than-expected results for the fourth quarter ended April 30, 2020, due to the impact of the Corona epidemic and the extraordinary liability for additional license fees. On a consolidated basis, the company's net profit fell 2.4 per cent to Rs 5 crore from Rs 10.7 crore in the year-ago period. This is a decrease of 2.31 per cent from Rs 11,31 crore in the third quarter. Prior to the extraordinary other provision, the company's net profit rose 2.6 per cent to Rs 10,612 crore from Rs 10.8 crore. That's down 10 per cent from Rs 13,017 crore in the third quarter. The company has declared a dividend of Rs 2.50 per share. With this, the company has decided to issue 15 shares to shareholders at a price of Rs 19 per share (1:12 ratio). The size of this iss...

- Positive sign of covid drug trial, Chinese factory figures, US Federal Reserve maintaining zero rate ... - IT, banking, auto, metal, oil and gas stocks rise: FPIs / FIIs buy Rs 15 crore in cash, DIIs buy Rs 5 crore in cash (Gujarat News Correspondent) Mumbai Ta. 30 April 2020, Thursday The April trend in derivatives ended today with a tumultuous rally in Indian stock markets. In the ongoing global fight against the corona epidemic, drug-vaccine research is reporting that the US-based Gelid company Remedisivir is healing corona patients at a faster rate of 21% and the US Federal Reserve yesterday maintained zero interest rates as well as China's factory output. With the boom in global markets, the Government of India is now packing economic stimulus Prompt stocks of public funds was also the fourth consecutive day of declines across the surface of the universal aggressively bullish the surface of Sensex 33000 and Nifty 9800. The Sensex jumped 3.6 points to 314.5 and the Nifty ...

New Delhi, Thursday 30 April 2020 The Government of India has become vigilant to ensure that Vietnam, the Philippines, Sri Lanka, Africa and Bangladesh do not take advantage of the anger of many countries towards China. The ministry has been meeting for several days on how India should take advantage of this opportunity and increase its share in the world's supply chain. Prime Minister Narendra Modi has given a guru mantra to the ministry and officials on this issue. The Prime Minister held a comprehensive meeting to bring foreign investment in the country. The meeting was attended by several ministers of state and officials, including the finance minister, commerce and industry minister, and home minister. Prime Minister Modi chanted the mantra that infrastructure needs to be further strengthened to attract investors with mature plans. Prime Minister Modi was proactive and asked for every clearance to solve the problems of investors. Asked to provide necessary financial sup...

New Delhi, Thursday 30 April 2020 Reliance Industries, the country's largest company, has also announced pay cuts amid the Corona virus epidemic. Employees working in Reliance's hydrocarbon business with an annual salary of more than Rs 1.5 million will have their salaries reduced by 10 per cent. However, no reduction will be made in the salary of those whose salary is less than that. Sources said that the salary of a senior executive could be reduced by 30 to 50 per cent. In addition, performance-based bonuses have been largely avoided. In fact, demand for petroleum has fallen sharply due to the lockdown, which has led to a sharp drop in revenue for the hydrocarbon business. Compensation for board of directors, executive directors and senior leaders will be reduced by 30 to 50 per cent. Reliance Industries chairman Mukesh Ambani has decided not to take compensation. A press release issued by the company said that the Corona epidemic has given the company the opportunity ...

New Delhi, Thursday 30 April 2020 Domestic markets are also making new leaps on the back of positive global signals, with the stock market closing higher on Thursday. The 30-share Sensex of the Bombay Stock Exchange jumped 997.46 to close at 33,717.62 today. At the National Stock Exchange, the Nifty touched a day high of 9,889.05 and closed at 9,859.00, up 306 points. The rally was seen in all sectors, including Nifty Midcap-50, Auto, Bank, IT, Metal, PSU, Private Bank. However, media and auto sector stocks remained at the red mark. Reasons for the stock market boom US markets rallied on Wednesday, with Facebook and Microsoft outperforming Asian markets. According to the American pharmaceutical company Glide Science, their anti-viral drug Rimdesivir is showing good results in trials on corona patients. There was also a sharp rise in crude oil prices in the hope of opening up the global economy. One more relief package is expected by the government in the stock market, the gove...

Mumbai, Ta. 30 April 2020, Thursday The central bank has been tightening its grip on the country's co-operative banks for some time. That is why the RBI has banned or extended the ban on more than six operative banks in about eight months. Under it, the ban on Mumbai-based co-operative bank 'The Needs of Life Co-operative Bank Limited' has also been extended. The bank will now be banned till October 31. The bank was banned for six months by the Reserve Bank in October 2018. Under it, the bank was not allowed to give any new loan or renew the old loan. The ban on the bank has since been extended twice. The bank has been allowed to conduct banking business under sanctions as its financial condition improves. The RBI has banned withdrawals from the bank, meaning that people associated with the bank will still not be able to withdraw money for six months. In addition, the Reserve Bank of India has extended the sanctions on Madgaon Urban Co-operative Bank Limited for three m...

New delhi date. 30 April 2020, Thursday Former Reserve Bank of India governor and eminent economist Raghuram Rajan has suggested that economic activities be resumed soon after the lockdown and to protect the livelihoods of the people while coping with the Corona virus. During a video conferencing with former Congress president Rahul Gandhi, he said the country would have to provide financial assistance to the country's poor, laborers and farmers through direct transfers at a cost of Rs 65,000 crore. It is necessary to help the poor In response to a question from Rahul Gandhi, Rajan said, "It is in the best interest of the people to maintain social harmony and we should not risk being divided in this challenging time." Our economy is worth over Rs 200 lakh crore and we can use Rs 65,000 crore. At the same time, he suggested reviving the economy and taking steps to deal with Corona. On the issue of corona screening in India, Raghuram Rajan said that an average of 150,0...

Mumbai, Ta. 29 The government agency plans to procure an estimated 50 million tonnes of rice from farmers in the 2018-20 (October-September) season as farmers are eager to sell rice to government agencies at support prices as the possibility of selling goods to private traders is reduced amid the lockdown imposed by Kovid-12. The purchase will be about 5 per cent of the total production estimate for the current season, Agriculture Ministry sources said. Lockdowns take a lot of time to sell goods in mandis. The Telangana and Andhra Pradesh governments have decided to buy whole ripe rice in their states. The Food Corporation of India has already procured 25 million tonnes of rice by March 31 of the current season. The agency plans to procure another 1.5 crore tonnes of rice from farmers due to Kovid-12. Thus, a total of five to five crore rice will be procured by government agencies at support prices in the current season, the sources said. The agency procured 25 million tonnes of ...

Domestic Airlines: Salary cuts Domestic airlines such as Go Air and SpiceJet have been hit hard by the lockdown. These companies will reduce working hours as well as cut staff salaries. The airlines of these companies have been closed since March 8. Even after the lockdown is withdrawn, the airlines will resume operations with limited trips. SpiceJet has cut the salaries of its cabin crew staff by 30 per cent. Now these companies are considering further cuts in staff salaries as the lockdown grows. Axis Bank's venture Private sector bank Axis has said it will take a 5 per cent stake in Max Life Insurance to increase its stake to 20 per cent. The share price will be around Rs 15 crore. Axis Bank offers Max Life's 3 million horsepower for Rs. Will buy at the price of 4.21. The board meeting of both the companies was held on April 4. Earlier on February 20, the two companies had decided to forge a strategic partnership. Massive price of food stock As the inconvenience of sto...

(Commercial Representative) Mumbai Ta. Wednesday, April 29, 2020 The country's leading exchange, the Bombay Stock Exchange (BSE), has set up a penalty structure to penalize its brokers if they fail to submit cyber security and cyber resilience audit reports in a timely manner and deactivate trading terminals for non-compliance. Brokers are required to submit quarterly reports on cases of cyber attacks and threats, the BSE said in a circular. A daily penalty of Rs.500 will be levied for non-submission of report within one month from the end of the due date. In addition, in case of non-submission of report within three months from the due date, the penalty amount will be increased to Rs.500 per day. Brokers who do not submit a report even after three months will have their trading terminals in all segments deactivated after two weeks' notice, the exchange said. The BSE also said that the notice of inactivity issued to the member will be distributed to inform all the exchange...

Mumbai, Ta. Wednesday, April 29, 2020 The country's tourism industry is projected to lose Rs 1.5 trillion in the current calendar year due to the closure of airlines and hotels due to the Kovid-12 epidemic. A report by CARE Ratings estimates that the current year's revenue will decline by 20% compared to the calendar year 2017. The coronavirus is expected to hit the tourism industry by 20 per cent in January and February this year, compared to 30 per cent in March. The cancellation of international flights has had a direct impact on the tourism sector. From April to June, the country's tourism industry is likely to lose Rs 200 crore in revenue, which is expected to grow by 50 per cent year-on-year. Kovid-12 has affected the tourism industry around the world. Most of the bookings for summer vacations have been canceled due to travel restrictions imposed by the Government of India and other governments of the world. In the calendar year 2016, the number of foreign touris...

(Mumbai, April 29, 2020, Wednesday) The local gold and silver market behind the world market witnessed mixed weather today. The decline in gold prices continued while silver rose again from lower prices. Major currencies, including the dollar, weakened against the rupee in the domestic currency market. In the US, crude oil stocks rose sharply despite rising prices. In the domestic gold and silver market, the price of gold at Rs 8.50 per 10 grams, excluding GST, which was Rs 1010 yesterday, fell to Rs 80 today. Gold was down from Rs 715 to Rs 705. Silver.2 The price of one kg increased from Rs. 3150 to Rs. With GST, silver prices were quoted at 3 per cent higher. Gold prices were suppressed locally as the dollar weakened against the rupee and the import cost came down. The dollar fell below Rs 7 to close at Rs 4.5 and closed at Rs 4.5 today. The dollar fell 3 paise. The pound was down 3 paise at Rs 2.7 while the euro was down 3 paise at Rs 2.50. The Corona has put pressure on the do...

Mumbai, Ta. Wednesday, April 29, 2020 Various domestic edible oils were prevailing in the Mumbai oil-oil market today, while the weather was mild in imported edible oils. However, new trades were scattered in the market today. Meanwhile, world market news showed a slow recovery from lower prices, while imported edible oils remained under pressure as the dollar weakened in the domestic currency market, analysts said. In the Mumbai spot market, the price of 10 kg of palm oil today fell to Rs 215, while the price of crude palm oil (CPO) Kandla fell to Rs 20. Meanwhile, in the Mumbai market, cingulum oil was priced at Rs 1,50 to Rs 1,20, cottonseed oil at Rs 4, soyoil digam at Rs 20 and refined at Rs 715. The prices of sunflower were quoted at Rs 30, refined at Rs 500 and mustard at Rs 50. In Rajkot, the price of cingulum oil was Rs 1,50 to Rs 1,2, 15 kg was Rs 2,050 to Rs 4,050 and cotton washed was Rs 5 to Rs 20. Meanwhile, crude palm oil futures fell by Rs 200 this evening, while so...

Mumbai, Ta. Ta. Wednesday, April 29, 2020 The current fiscal year's revenue for the country's diamond industry, which has shifted its focus from China to the US and Europe, is expected to be at a decade low. The US and Europe are major export hubs for India's diamond polishing industry. Diamond processing units are waiting for a financial package from banks without which they are not in a position to restart their units. Even if the lockdown is lifted, the units cannot be reopened without financial support, said an official of the Gems and Jewelery Export Promotion Council. The impact of the coronavirus is expected to reduce the industry's revenue by 3 to 4 per cent in the current financial year. Although some states, especially Gujarat, have been allowed to open processing units, operations have not started in the units. Currently, there are concerns over whether the industry will survive in the short term. The number of outstanding loans of banks to the gems and j...

Mumbai Ta. Wednesday, April 29, 2020 Multi Commodity Exchange Clearing Corporation Limited (MCXCCL) has announced an increase in its additional risk management measures to cover the fluctuations in crude oil prices. Additional criteria have been changed by MCX following the BSE's decision to allow trading in commodity derivatives at negative prices yesterday. The BSE on Tuesday changed its Bolt Plus trading system to allow orders to be traded at negative prices. Of course, MCX, which has a 5 per cent market share in crude oil trading in India, has not yet made any changes to the trading software to allow it to trade in commodity derivatives at negative prices. However the exchange said it is in the process of making the necessary changes to the system and will update the software shortly after testing. MCX, meanwhile, has increased its additional margins on crude oil futures based on market fluctuations in its new benchmarks. As per all existing and not yet started crude oil c...

Mumbai, Ta. Wednesday, April 29, 2020 The Indian economy is expected to be hit hard by the coronavirus lockdown and the impending threat of a global recession. UBS expects India's economic growth to shrink to -0.50 per cent in the current financial year. Earlier, UBS had projected India's economic growth at 7.50 per cent. UBS's estimate is based on the country's current situation and the possibility of lifting existing sanctions. Earlier, another global rating agency, Fitch, had slashed India's growth forecast for the fiscal year 2020-21 to 0.5 per cent, the lowest ever. Estimates have been reduced in view of the impact of the Kovid-12 epidemic and the government's efforts to prevent it. Prior to Covid-12, the agency had projected a growth rate of 7.5 per cent for India. Measures taken due to coronavirus will increase the strain on the country's financial and financial situation. Apart from Fitch, the International Monetary Fund (IMF) has pegged India...

(Commercial Representative) Mumbai Ta. Wednesday, April 29, 2020 Reliance Jio is likely to be the business savior in the fourth quarter as well as in the results for the fourth quarter and full financial year 2018-20, which will be announced by Reliance Industries Limited tomorrow, April 30, 2020. Analysts estimate that the telecom business is expected to perform well against the weakness in the retail, refining and petrochemicals businesses and the overall results are expected to be modest. On a consolidated basis, analysts estimate that the company will achieve a net income of Rs 1,8,000 crore and a net profit of Rs 10,60 crore in the fourth quarter from January to March 2020. The company is scheduled to consider a proposal for a rights issue of shares in the fourth quarter, full fiscal year results for April 30, 2020, at a board meeting. Reliance Industries had consolidated net profit of Rs 11,60 crore and revenue of Rs 1,8,8 crore in the third quarter of October-December 2020. ...

(Gujarat News Correspondent) Mumbai Ta. Wednesday, April 29, 2020 Corona epidemic Europe, amid signs of a slowdown in the US, a renewed buy in foreign fund stocks and an aggressive take on local fund-mutual fund stocks for three days in a row, signaling a easing of lockdown in US countries. After the Reserve Bank of India announced a special Rs 70,000 crore liquidity lifeline for mutual funds after the Franklin Templeton Mutual Fund announced the closure of its 9 debt schemes last week, the funds today IT-software services, automobile, oil-gas, capital goods stocks rose. Nseksane Today more diving 605.64 points to 32,720.16 and the Nifty spot thrusts were laying off 172.45 points to 9553.35. Thus, the Sensex jumped 17.5 points to 30.15 and the Nifty closed up 7.5 points at 8.4 in a three-day rally. The Indian rupee also strengthened by 50 paise to a three-week high of 6.5 against the US dollar. International crude oil prices continued to rise this evening, with Nymex crude rising ૨ ...

(Commercial Representative) Mumbai Ta. Wednesday, April 29, 2020 Corona epidemic Europe, amid signs of a slowdown in the US, a renewed buy in foreign fund stocks and an aggressive take on local fund-mutual fund stocks for three days in a row, signaling a easing of lockdown in US countries. For the third day in a row, the Reserve Bank of India (RBI) has announced a special Rs 30,000 crore liquidity lifeline for mutual funds. The Sensex jumped another 206.5 points today to close at 8,50.15 and the Nifty spot jumped 17.4 points to close at 4.5. Where were The Sensex and the Nifty surged by 12.5 points and 4.5 points, respectively, on a three-day rally in local fund stocks. The Indian rupee also strengthened by 50 paise to a three-week high of 6.5 against the US dollar. International crude oil prices continued to rise, with Nymex crude rising by ૩ 4.21 to ૬ 17.8 a barrel and Brent crude by ૭ 2.15 to ૬૩ 6.5 late this evening. For the third day in a row, banking-finance stocks traded h...

New delhi date. Wednesday, April 29, 2020 Account holders of PF account are withdrawing money quickly by taking advantage of the discount due to lockdown. According to the Employees Provident Fund Organization (EPFO) of the Ministry of Labor and Employment, 13 lakh account holders have availed the facility so far and Rs 4,684.52 crore has been disbursed. It may be mentioned that in the current circumstances, people are taking help of PF fund due to financial constraints. However, it is also a fact that it will disrupt future planning. Under these circumstances it is necessary to strengthen the PF fund once again after the situation normalizes so that some capital can be accumulated in the future. To increase the monthly contribution of PF fund After coming out of the corona crisis you can request to increase the monthly contribution to PF at the place where you work. According to the Employees Provident Fund Act, any member of EPFO ​​can increase his monthly contribution in PF. I...

New York, Ta. Wednesday, April 29, 2020 US President Donald Trump on Tuesday approved the opening of meat processing plants. Trump issued the order to protect the country's food supply amid concerns over Corona's rage. He issued an executive order using the Defense Production Act to keep the plants working in view of food shortages and bottlenecks in the supply chain. Trump's order reassures companies and employees working there. The closure of one large beef processing plant alone could lead to a shortage of beef for about 10 million people a day, the order said. Several of the world's largest meat companies, including Smithfield Foods Inc., Cargill Inc., JBS USA and Tyson, have suspended work at about 20 slaughterhouses and processing units in North America after workers fell ill, creating a meat shortage. However, the unions were not impressed by Trump's decision. According to some farmers, it is too late now because the pigs were killed before they were sent...

New delhi date. Wednesday, April 29, 2020 If you think that you will benefit from the fall in crude oil prices in the international markets, then that idea is full of mistakes. There is no sign of a reduction in petrol and diesel prices and more importantly, state governments are now going to make it more expensive by imposing a corona virus tax instead of reducing prices. The state imposed the Corona virus tax A cess has been imposed on petrol-diesel to offset losses in the fight against the epidemic Corona virus. Amid a nationwide lockdown, Nagaland has decided to impose a Covid-19 cess on petrol and diesel. Nagaland has imposed a Covid-19 cess of Rs 6 per liter on petrol and Rs 5 per liter on diesel, with effect from midnight on April 28. According to experts, crude oil prices have declined since January due to various reasons. However, imposing various taxes or cess does not allow prices to fall. Earlier, the Assam government had also hiked taxes on diesel by Rs 5 per liter an...

New delhi date. Wednesday, April 29, 2020 Finance Minister Nirmala Sitharaman has taken a hard line on Congress questions on loan waiver. He took a class of Congress and Rahul Gandhi by tweeting in stages. He said that between 2009 and 2014, Rs 1.45 lakh crore was allowed to go to Mandwal (right off). "I wish Rahul Gandhi had consulted Manmohan Singh on bank defaulters and loan waivers," he said. Allegations were made by Congress In fact, the Congress had alleged that the Modi government had written off loans worth Rs 68,607 crore and that those whose loans had been forgiven included the names of Nirav Modi, Mehul Choksi and Vijay Mallya. Rahul Gandhi wrote in his tweet, "When I asked the names of 50 big bank thieves in Parliament, the Finance Minister did not answer and now the RBI has put BJP's friends including Mehul Choksi and Nirav Modi on the list of bank thieves." Finance Minister's reply Nirmala Sitharaman said that bankwise details of willful ...

New delhi date. 28 April 2020, Tuesday The government will soon announce relief in the form of GST to provide relief to all, including the business community, which has disrupted business and employment across the country due to the lockdown in the wake of the Corona epidemic. Is. According to government sources, in view of the lockdown phase, an exercise has been launched to provide relief in GST payments after various concessions were announced by the government earlier. The exercise will provide relief in GST payment for six months in the worst affected areas due to the epidemic. Such areas include restaurants, aviation as well as other areas including hospitality. In addition to announcing certain concessions for the real estate sector, an exercise has also been undertaken to adopt a cash system instead of the existing invoice based system. In addition, steps will be taken to ease the liquidity pressure on the business. The main reason behind taking this step is to alleviate th...

Mumbai, Ta. 28 April 2020, Tuesday Safe haven gold and silver prices have started falling again in the world market and stock markets are seeing an improvement following signals from various countries to ease the lockdown imposed due to coronavirus. Gold and silver prices have also declined in the domestic market. Crude oil prices are coming under pressure from the global economic downturn and are speaking at lower levels again. The outcome of the two-day meeting of the US Federal Reserve is being monitored. Gold and silver benchmark prices are being set amid local lockdowns. Gold, excluding GST of 99.50 per ten grams, which was closed at Rs 46,150 yesterday, fell to Rs 45,790 today and finally closed at Rs 46,010. 99.90 per ten grams of gold price of Rs 46336 to Rs 45974 closed at Rs 46195. Prices were quoted three per cent higher with GST. Silver.999 which was closed at 42,050 today fell to Rs 41,530 without GST and closed at Rs 41,650. Prices with GST were three per cent higher. ...

New delhi date. 28 April 2020, Tuesday The lockdown has seen a massive change in the usage of Internet users in India. Consumers have consumed more data during this time, the global internet exchange operator said. Gaming traffic has increased by 50 percent, according to a report released by the global Internet exchange operator. Traffic to various video streaming and collaborative work applications has doubled. In the first two weeks of the lockdown, which began on March 25, total Internet traffic increased by 1 terabyte, 30-40 percent more than normal traffic. The traffic that used to come from offices and institutions in earlier routine times is now coming from home. People spend more time online after the lockdown. Now almost everything is happening on social networking online. The total volume of traffic has increased despite the decline in business traffic. While children are studying online, artists from various fields are also performing online. Thus many new user groups hav...

Mumbai / New Delhi, Ta. 28 April 2020, Tuesday The auto sector is being hit the hardest by the drastic implementation of lockdowns across the country. For the first time in history, the auto industry, which accounts for 15 per cent of the government's total tax collection, will record zero sales (not a single vehicle sold) in April. This adverse situation is likely to continue during the month of May. The automobile industry came to a complete standstill in April due to the lockdown. All the big plants and small factories in the industry have been locked since the last week of March. There are no concessions. On the other hand, four wheeler, two wheeler, three wheeler, all types of commercial vehicles as well as tractor show rooms as well as all dealers are also locked there. On the other hand, due to the lockdown, the process of vehicle finance has also come to a standstill. Thus, in these circumstances, not a single vehicle from any of the various segments could be sold by an...

(Commercial Representative) Mumbai, Ta. 28 April 2020, Tuesday Franklin Templeton Mutual Fund's recent 6 Debt Scheme has been summed up due to liquidity crises and major redemption pressures. Is. According to a report by Morgan Stanley dated April 27, 2020, debt-to-debt levels in non-banking finance companies and housing finance companies have been raised by mutual funds from July-August 2018 to avoid risk of asset under management (AUM) decline, risk and regulation. Percentage has been reduced and also in real estate finance companies, promoter financing etc. by 90%. The debt of mutual funds has been brought down to 1.5 per cent of AUM. Mutual funds had large debt investments in non-banking finance companies (NBFCs), especially during the first half of FY15 to FY19. The financial year 2015 saw a rapid growth in the debt AUM of mutual funds. The first half of fiscal year 2019 saw a stagnation. It has been declining from August 2019 to March 2020 on an annual basis. Morgan Stan...

(Gujarat News Correspondent) Mumbai, Ta. 28 April 2020, Tuesday After the Reserve Bank of India (RBI) yesterday launched a Rs 50,000 crore special liquidity window for mutual funds following the Franklin Templeton fiasco, now the central government is signaling a massive economic stimulus package soon and global markets are expected to end in April today. The Sensex crossed the 32000 level with a stormy rally and no Phatine had to bring adjacent surfaces of 9400. In the banking sector, private bank IndusInd Bank today also declared a huge net loss after a weak quarterly result. Yesterday, the positive impact of the package for mutual funds led to offloading of local funds in the stocks of banking companies and reduced new major purchases. Shares of Sensex jumped 371.44 points to 32,114.52 and Nifty spot 98.60 points. Bounced off 9380.90. The BSE Bankex index jumped 680.69 points to close at 23896.67 and the BSE Bankex index rose by 680.69 points to 23796.67 points. Was. Pharmaceutic...

New Delhi, 28 April 2020 Tuesday Amidst the lockdown to control the Corona virus, people's financial problems can be gauged from the fact that they now have to make a living by withdrawing money from their PF accounts. About 8.2 lakh members of EPFO ​​and private PF funds have raised Rs 3243.17 crore for their livelihood. The Employees Provident Fund Organization in its March 28 decision allowed part-time employees of the scheme to withdraw partial amounts to deal with difficulties caused by the lockdown. The EPFO, which comes under the Union Ministry of Labor and Employment, has (in the meantime) settled a total of 12.91 lakh claims, the Ministry of Labor said in a statement. This includes 7.40 lakh claims related to the exemption granted under the Prime Minister's Poor Welfare Scheme (PMGKY) package announced in the Kovid-19 crisis. The claim covers a total of Rs 4684.52 crore, including Rs 2367.65 crore under the PMGKY package. The ministry said the exempted private PM...

Barcelona, ​​April 28, 2020, Wednesday Millions of people in Spain have been infected with the corona virus and hundreds have died. As the Spanish border with Morocco is sealed off to control the corona, laborers cannot come every year to harvest strawberries and fruits. Farmers in Spain, a European country most affected by the corona virus infection, are going through a very difficult time. Even so, farmers were disturbed by higher production costs and lower prices, with the Corona epidemic worsening the situation. The Huelva region of Spain is known for strawberry cultivation where more than 90 percent of strawberries are grown. Strawberry cultivation in this area is the only source of income. If strawberry cultivation is done after this area is deserted then it will become poor. With the onset of April, strawberries from all over Spain begin to move throughout Europe. Currently the strawberries are ready but there is no labor to unload them. Germany and Britain are the largest b...

Mumbai, Ta. 27 April 2020, Monday In the Mumbai oilseeds market, trade was sluggish today due to lack of new demand and spot prices were quoted lower. The futures market was also selling out. World market news also showed a decline. The fall in global crude oil prices has had an impact on global edible oil prices today. In the Mumbai spot market, prices of 10 kg of palm oil fell by Rs 30 to Rs 5, cingulum oil by Rs 1,50 to Rs 1,50, cottonseed oil by Rs 4, soyoil digam by Rs 20 to Rs 5 and refined oil by Rs 20. Sunflower prices were down by Rs 30, refined by Rs 305, mustard by Rs 20 and crude palm oil (CPO) by Rs 8. In the futures market, CPO prices were quoted at Rs 203.10 and soyoil at Rs 4 in the evening. In Rajkot, cingulum oil fell by Rs 1,20 and cotton washed by Rs 50. In the global market, palm oil futures in Malaysia fell by 9 points today, while in the US, Chicago soyoil futures were in the projection of 15 to 18 points in the projection this evening. Meanwhile, exports o...

New delhi date. 27 April 2020, Monday Collection agents cannot find some customers who have taken mobile, appliances as well as personal loans from banks as well as NBFCs during the long period of lockdown implemented to curb the growing spread of Corona virus. In other words, some customers who take this type of loan have gone missing. The recent favorable monetary policy adopted by banks as well as NBFCs has led to a significant shift in the proportion of other loans, including mobiles and appliances, as well as personal loans. With the advent of flexible monetary policy, it has become very easy for people of all walks of life to take out loans and this has led to a significant increase in such loans. The outbreak of the corona virus in the country last March led to a lockdown in the last phase of March, which continues to this day. During this long period of lockdown, some of the customers who took such locks from banks and NBFCs were not noticed, their collection agents said. ...

Mumbai, Ta. 27 April 2020, Monday Domestic behind the world market saw a decline in gold prices earlier in the week while silver prices remained modest. On the first day of the week, crude oil and the dollar were also reported to be under pressure. Bank of Japan has lifted restrictions on bond purchases by liberalizing stimulus. This step has been taken keeping in view the impact of Kovid-12 on the economy. In the domestic gold and silver market, the GST-free price of 2.50 gold, which was Rs 20 per 10 grams last weekend, fell to Rs 5,150 today. Gold fell from Rs 200 to Rs 5 at Rs 4.50. Silver.2 The price of a kg rose from Rs 2,000 to close at Rs 4,050 today. Prices were quoted three per cent higher with GST. Gold and silver prices are believed to be coming under pressure as stock markets rise following reports of lockdowns in various parts of the world. The price of an ounce of gold in the world market, which was ૭૨૯ 16.50 at the end of last week, fell to ૭ 1,215 today and was trad...

(Commercial Representative) Mumbai, Ta. 27 April 2020, Monday Following the fiasco of the Franklin Templeton Mutual Fund, the Reserve Bank of India announced a special liquidity facility of Rs 50,000 crore for the mutual funds. It is learned that these measures were announced a week late for the closed debt schemes of the fund and this liquidity window will not benefit these schemes. ૬ Debt schemes have been closed by Franklin for redemption on April 6, 2020. Of course, like other fund houses, Franklin Templeton will be able to use this window for his other schemes. It remains to be seen whether the banks will agree to provide new funds to the fund house, taking into account the strength of its asset under management, considering the six closed schemes to be closed on a temporary basis. Meanwhile, after the Franklin Templeton Mutual Fund decided to wrap up its debt scheme last week due to heavy pressure on redemption and lack of liquidity in the bond markets, the mutual fund today c...

(Gujarat News Correspondent) Mumbai, Ta. 27 April 2020, Monday Franklin Templeton Mutual Fund's decision to close the Debt Mutual Fund Scheme last week due to redemption pressure and lack of liquidity in the bond markets has exacerbated the crisis in the mutual fund industry, prompting the central government and the Reserve Bank of India to launch a major financial crisis in the country. India liquidates Rs 30,000 crore for mutual funds In the last week of April, derivatives in the Indian stock markets, which had started DDT Lifeline, had stopped selling in the wee hours of April, again with short covering. As the world is gripped by the Corona epidemic, it has become imperative to provide economic stimulus-relief to the business-corporate world. The central government is also considering giving a loan guarantee of Rs 3 lakh crore for loans to the country's MSME-medium and small scale sector. Finance stocks led the buyers. Along with this, in pharmaceuticals-healthcare, IT-s...

New Delhi, 27 April 2020 Monday The Reserve Bank of India (RBI) on Monday raised Rs. 50,000 crore has been announced. The RBI has taken this step to boost confidence in the financial markets. Especially on occasions when the last few months have seen a lot of impact. The series also includes the Franklin Templeton Fiasco. This is one of the many steps taken by the RBI to maintain economic stability amidst the current uncertainty. RBI Governor Shaktikanta Das has said that the RBI will take all necessary steps to maintain market stability. They called it a "war-like situation." Earlier in April, he said, "The Reserve Bank of India will remain vigilant and will not hesitate to take necessary steps." We will take necessary and conventional or unconventional measures to reduce the impact of Covid-19, so that the growth cycle can continue and financial market stability can be maintained. The central bank said during the announcement of the Rs 50,000 crore relief t...

New Delhi, 27 April 2020 Monday The government-owned steel producer Steel Authority of India Limited (SAIL) has contributed Rs 1 crore each to the Chief Minister's Relief Fund in the RAR states of Jharkhand, Odisha, Chhattisgarh and West Bengal to help fight the Koro epidemic. Informing about this, SAIL Director Anil Kumar Chaudhary said that SAIL has decided to donate Rs 1 crore each to the Chief Minister's Relief Fund of these four states as an initiative to contribute to this nationwide crisis. SAIL's units are operational in all the four states. I have already donated Rs 30 crore to SAIL PM Care Fund and a day's salary of its employees which is around Rs 9 crore. Apart from this, the company has set up 300 isolation beds and 600 quarantine facilities across the country for the purpose of providing medical and healthcare services to the people living in its unit hospitals and surrounding areas. In addition, the company has donated a large amount of food to its ...

Ahmedabad, Ta- 13 Apr 2020, Monday From the beginning of April this year, after the huge sell-offs in the previous March, foreign investors have raised Rs. 1.5 crore has been withdrawn. As a result of the Corona Crisis, the assets that are considered safe haven in dollar-based securities and the dollar triggered returns in gold as well as high headlines in gold burning. Corona viruses are spreading globally across the globe, creating a global recession, with capital eroding in markets around the world. Along with that, the protagonist was also upside down in all the market indexes. Thus, as a result of the Corona crisis, the assets that were considered safe haven were triggered by returns in dollar-based securities and in gold. Due to the adverse environment, even headlines in the dollar and gold were burning. As well, this up trend has continued. Thus, following this trend, foreign investors have also moved away from equity markets to safe investment. Due to this hostile environ...

New delhi date. 13 April 2020, Monday India's steel exports will be affected in the short run as a result of the rapid spread of coronavirus worldwide. Deficit exports from global markets have been impacted. India's steel demand remains significantly higher in European markets, especially in Italy and Belgium. During the April-February period of the last financial year, about two percent of total steel exports were exported to these two countries. India's steel exports will slow in the short run due to weak demand, a report by rating agency ICRA said. There is a fluctuation in the country's steel exports from the financial year 7-8. Imports were higher than exports in fiscal year 1 and 2, while steel exports remained high during the next two years. Exports were down again as compared to imports in fiscal year 1. India had been a net importer of steel in the first six months of the last fiscal year, ie April to September. However, the country's exports have bee...

- Exercise taken by the protagonist Market Yard to resume auction operations Ahmedabad. 13 April 2020, Monday The farmers of Gujarat have maintained their summer planting amid the ever-increasing havoc and lockdown of the Corona virus, government sources said. According to government data, even in the hostile environment of the Corona epidemic, a total of 8 lakh hectare area has been planted in the state during the first week of April. In addition to the shock of the country's economy due to the adverse effects of the corona virus, adverse events have also arisen in the field of small business, employment and various industries. However, even in the midst of this hostile environment, the summer planting area in Gujarat shows a growth of 8.5 lakh hectares this year as compared to 1.8 lakh hectares in the same period last year. However, compared to the average summer planting of the last three years, it indicates an increase of 1 lakh hectares. According to available data, far...