Market and Business News

New Delhi, 31 May 2020 Sunday While people are losing their jobs due to the Corona virus, Infosys CEO Salil Parekh's salary has been increased by 27 per cent. In the financial year 2019-20, Salil Parekh has received વળ 6.1 million in compensation. In the last financial year 2018-19, they received a total compensation of 8 4.8 million. Infosys CEO Salil Parekh has received a salary of Rs 45 crore. These returns include salary, bonus / incentive and RSU (restricted stock unit). Nandan Nilekani, chairman of the company, has not voluntarily taken any salary this year. The company's COO UB Praveen Rao's compensation has increased by 29 per cent to જે 2.2 million. Apart from this, the salaries of the two presidents of the company, Ravi Kumar and Mohit Joshi, have been increased by 25 per cent and 24.6 per cent, respectively. Ravi Kumar got a salary of 3 million and Mohit Joshi got a salary of 3. 3.2 million. It is worth mentioning here that 98% of the employees of the comp

New Delhi, 31 May 2020 Sunday Petrol-diesel rates have not come down despite the fall in crude oil prices. When the central government increased the excise duty, many states also increased the VAT on petrol and diesel. In such a situation, the common man did not get any benefit from cheap crude. According to Live Mint, public sector oil marketing companies may hike petrol and diesel prices by Rs 4 to 5 per liter. The daily value of both petroleum products may improve once the lockdown is lifted. The companies say that the gap between the cost and sales of petrol and diesel has already reached Rs 4-5 per liter. In order to meet the deficit keeping in view the global prices, 40-50 paise a day has to be increased for two consecutive weeks. However, government sources said that raising petrol and diesel prices beyond the limit could not be allowed. After several delays in lockdown 4.0, many states started public and private transport, which increased the demand for fuel. During the

New Delhi, 31 May 2020 Sunday Reliance Industries Chairman Mukesh Ambani had decided to make the company debt free by March 2021 and they are moving very fast in this direction. Five different investors have invested more than Rs 78,000 crore in the company in the last few weeks and the deal with several investors is in the final stages. In such a scenario, it has become easier for the company to achieve its net debt free target. A report from a brokerage firm said that if Reliance's deal with Saudi Aramco was delayed, it would still be in a position to repay its entire debt. Mukesh Ambani-controlled Reliance Industries sold a minority stake in its digital unit to Facebook and private equity firms such as Silver Lake, Vista Equity, KKR and General Atlantic for a total of Rs. 78,562 crore. Apart from this, the company has raised Rs. 53,125 crore. "Following the recent deals, we have analyzed Reliance Industries' ledger," said a research report by Edelweiss on the

New delhi date. May 30, 2020, Saturday The effects of the Covid-19 epidemic and the onset of the lockdown on the Indian economy are beginning to show. During the fourth quarter (three months) of the current financial year, the country's growth rate has slowed to 3.1 compared to last year, which is the lowest level in 11 years. A nationwide lockdown was carried out during the last week of March to combat the Corona virus and economic activities were completely halted. According to a report released by the Ministry of Statistics and Program Implementation, India's GDP for the three months to March is 3.1 per cent this year as against 5.7 per cent last year. The GDP growth rate for the third quarter from the first quarter of FY20 has also been revised. In terms of annual growth, the GDP growth rate for FY20 was about half that of FY17 (8.3 per cent). It was 5.7 percent in the fourth quarter of 2019 and has since fallen. The government had earlier projected a growth rate of 5 pe

Ahmedabad, 29 May 2020, Friday After Facebook, now Microsoft is also likely to invest in Reliance Jio. Talks are underway between the heads of the two companies for this. According to current estimates, the deal could be worth 3 billion (Rs 151 billion). Just a few days ago, Facebook announced a massive 2.5 billion investment in Mukesh Ambani-owned technology company Geo. Many of the world's largest technology companies are now interested in the Indian market. Microsoft will probably buy a 7.5 per cent stake in Geo. So far, Facebook and other foreign companies have jointly invested જિ 10.8 billion in Geo.

Mumbai, 29 May 2020, Friday In the Mumbai Oilseeds market today, prices of various imported edible oils, led by palm oil, rose again in the spot and futures markets, while domestic edible oils, including cingulum oil, remained subdued. Overall new demand was sparse and trades were scattered. Meanwhile, world market news got encouraging. Today, there was news of rising edible oil prices globally due to rising demand for biodiesel in the global market. Meanwhile, in the Mumbai spot market, the price of 10 kg of palm oil rose by Rs 5 to Rs 6 today, while the price of crude palm oil Kandla was quoted at Rs 4. In the futures market, CPO June prices rose to Rs 6.50 in the evening and soyoil June prices rose to Rs 3.50, while castor futures fell by Rs 15 to Rs 4.5 in the evening, sources in the futures market said. In the Mumbai spot market today, groundnut oil was priced at Rs 1,20, cottonseed oil at Rs 715, soyoil digam at Rs 20 and refined at Rs 8, sunflower at Rs 20 and refined at Rs

New Delhi, 29 May 2020, Friday The government has so far scrapped plans to merge the country's three public sector general insurers - National Insurance, Oriental and United India Insurance - to list the new company on the country's stock exchanges. Preparations for the merger have stalled for the past two months as the government has been focusing on protecting the country from the Kovid-12 epidemic, government sources said. There is currently no movement on this proposed merger. Nothing is heard from the government or the consultants. "Given the current situation, we are considering a delay in the merger," said an insurance company executive. The board of the three insurance companies had approved the merger in January this year. The management consultant had recommended that the merger process be completed by December 2020. However the merger is not currently on the government's list of priorities. "We have a number of other priorities at present,"

(PTI) New Delhi, 29 May 2020, Friday The Madras High Court has issued notices to the crisis-hit Franklin Templeton Mutual Fund and the Securities and Exchange Board of India (SEBI) following a petition filed by a group of investors, a group of investors said. The petition comes as investors are stuck with Rs 6,000 crore in six debt schemes closed by Franklin Templeton Mutual Fund. Investors Group, Chennai Financial Markets and Accountability (CEMA) further said that it has launched an online petition to bring together all the affected investors and has approached the Prime Minister's Office as well as the Fund House's U.S. Will be sent to Parent and U.S. Markets Director Sec. It further said that mutual funds and fund managers should answer questions including their investment choice and compliance and prudential standards with the regulator. Last month, Franklin Templeton announced the closure of six debt schemes due to redemption pressures and a lack of liquidity in bond

Mumbai, 29 May 2020, Friday The fourth phase of the lockdown is coming to an end as the Indian government prepares for the fourth phase of the lockdown after the global stock market softened today amid rising global tensions over the Hong Kong case and signs of tough action by the US against China. At the last minute, the funds took a hat-trick of gains over the weekend rather than a big rally in stocks. The benchmark Sensex fell by 3.4 points to close at 314.30 after opening at 2031.5 against the previous close of 200.5 on early selling of funds in IT-software services stocks. After remaining in the negative zone for most of the day, funds have been aggressive in last-minute gains in oil-gas stocks led by ONGC and FMCG stocks in ITC, Nestle India, Hindustan Unilever and pharma stocks including Sun Pharma. With this, auto stocks including Maruti Suzuki, Bajaj Auto, Hero MotoCorp and banking-finance stocks digested the decline from the previous high of 20.5 and closed at 8.10, up 3

(By commercial representative) Mumbai, 29 May 2020, Friday Behind the world market, there has been a sharp rise in domestic silver. Gold prices were moderately low. The domestic market had mixed weather in foreign currencies. The decline in KD continued. Tensions between China and the United States are affecting gold as well as crude oil prices. In the domestic market, silver rose by Rs 205 per kg to Rs 5 per kg, excluding GST. With GST, silver prices touched Rs 20,000 late in the evening. The world market was in a bullish wind of silver. In addition to the increase in industrial demand as the lockdown eased, the gold-silver price ratio remained bearish on pro-silver funds. Gold was trading at Rs 4.50 per 10 grams, down from Rs 205 excluding GST to Rs 31. At Rs 9.50, gold was trading at Rs 515 per 10 grams excluding GST. Three per cent were talking higher with GST. The price of an ounce of gold in the world market rose by ૭૨૨ 16.50 to ૭૩૨ 16. Silver was trading at ૭ 16.8 an ounce,

New Delhi, 29 May 2020 Friday Core sector production in eight major industries declined by 38.1% in April due to the nationwide lockdown of cores. In March 2020, production in the eight core sectors declined by 9%. The sector has been hit hard by the Corona epidemic. The eight basic industries include coal, cement, steel, natural gas, refinery, electricity, fertilizer and crude oil. The weightage of eight basic industries in the country's total industrial production index (IIP) is about 40.27%. The biggest hit during the period was the steel and cement sectors, whose production fell sharply by 83.9% and 86%, respectively. Coal production fell by 15.5% and crude oil by 6.4%. Natural gas production fell sharply by 19.9% ​​during April, according to figures released by the Ministry of Commerce and Industry. Refinery production also fell sharply by 24.2%. Fertilizer production has declined by 4.5%. Electricity production fell 22.8% in April. Earlier in February, the total growth

New Delhi, 29 May 2020 Friday The Reserve Bank of India has slapped a fine of Rs 60 lakh on Bharat Co-operative Bank. The Reserve Bank said that the Co-operative Bank of India has not complied with the rules on income recognition, asset classification and fraud. In the case of Income Recognition and Asset Classification Norms and Fraud (IRAC), this penalty has been imposed for non-compliance with the guidelines. The RBI has also slapped a fine of Rs 4 crore on Citibank. These penalties are related to obtaining a certificate in a credit facility case by the borrower. The RBI said Citibank had slapped the penalty for not receiving declarations from customers availing the credit facility and for not complying with the non-fund facility. Bank of India has been fined Rs 5 crore, Karnataka Bank Rs 1.2 crore, Saraswat Co-operative Bank Rs 30 lakh, TJSB Co-operative Bank Rs 45 lakh and Nagar Urban Co-operative Bank Rs 40 lakh for non-compliance by the central bank in various cases. Earl

New Delhi, 29 May 2020 Friday After home delivery of diesel, the government is now considering home delivery of petrol and CNG as well, for the convenience of consumers, the government wants to do so, Petroleum Minister Dharmendra Pradhan said on Friday. He also said that the government was considering a new retailing model, which would enable all types of fuels like petrol, diesel, CNG, LNG and LPG to be sourced from a single place. Indial Oil Corporation (IOC), the country's largest oil company, started home delivery of diesel through mobile dispensers in 2018, a facility currently available in some cities.

New Delhi, 29 May 2020 Friday GDP growth slowed to 3.1 per cent in the March quarter, from 4.1 per cent in FY20, compared to 6.1 per cent last year, according to data released by the statistics department. It is the worst performance in the last 8 years in the current series. The government revised its data for the first quarter of last year to 5.2 per cent in the first quarter, 4.4 per cent in the second quarter and 4.1 per cent in the second quarter. GDP growth is expected to slow further in the current financial year, according to data from the March quarter, which includes a single week of lockdowns. Production of eight key industries fell 38.1 percent in April from a year earlier due to the Corona epidemic and lockdown, a new record for the decline. Production in eight key industries grew by 5.2 per cent in April last year, according to figures released by the Commerce Ministry on Friday. In March this year, eight major industries, coal, mineral oil, natural gas, refinery p

New delhi date. May 29, 2020, Friday Oil marketing companies may hike petrol-diesel prices by up to Rs 5 a liter during June to offset losses during the lockdown. Apart from that, the companies are also preparing to resume the system of daily change in prices from next month. According to oil companies, the government has also increased taxes along with lower sales in the lockdown, leaving a huge gap between price and sales. According to a report by official sources of the state-owned Oil Marketing Company (OMC), all the retail oil dealers met last week to review the current situation and work out a roadmap to start daily adjustment of petrol-diesel prices after the lockdown. If the lockdown is extended for the fifth time, the system will be implemented with the approval of the government. Companies have suffered huge losses due to the sharp decline in sales over the last two months. Brent crude rose 50 percent to 50 30 a barrel from a month earlier, a state-owned oil company off

Ahmedabad, 27 May 2020, Wednesday Pharma giant Torrent Pharmaceuticals Limited has achieved fantastic results in the fourth quarter ending March 31, 2020 through productivity improvements and cost control. On a consolidated basis, the company has posted a net profit of Rs 314 crore this time as compared to a net loss of Rs 152 crore in the same period last year. The company has declared an interim dividend of Rs 32 per share for the year 2019-20. This includes a special dividend of Rs 15 per share. Which was paid in March 2020. The board has not considered further dividends for the year 2019-20. The company's consolidated revenue has increased from Rs 1856 crore to Rs 1946 crore. The company has posted a net profit of Rs 1,025 crore for the financial year ended March 2020. Which was Rs 436 crore last year. While the revenue has increased to Rs 7939 crore as compared to Rs 7673 crore. Samir Mehta, executive chairman, Torrent Pharmaceuticals, said the company's fourth-quarter

Mumbai, May 27, 2020, Wednesday Covid-19 could lead to more consolidation in the organized sector in the country. Earlier, the organized sector benefited from the impact of demonetisation and implementation of GST on the unorganized sector. The market share of organized sectors had increased significantly. A report by Bank of America Merrill Lynch said that the spread of Covid-19 has benefited the organized sector as unorganized players are currently fleeing the market. The bank recently conducted an analysis of 1125 listed companies in sectors including consumer, financial, energy, real estate in the country. The market share of the top five companies in each sector, which was less than 60 per cent before 2016, has now risen to 62 per cent and market share is likely to increase due to renewed disruption due to Covid-19. Once the effect of Covid-19 is alleviated, the products of organized players will have a good chance in the market. The availability of funds and technology in the

(PTI) New Delhi on 27 May 2020, Wednesday The Central Government has for the second time extended the deadline for bidding for the privatization of Bharat Petroleum Corporation Limited (BPCL), India's second largest oil refinery, to July 31, 2020. The Cabinet had in November last year approved the sale of the entire 52.98 per cent holding of the government in BPCL in November 2020, for which an Expression of Interest (EOI) or Bids was sought on March 7. The deadline for issuing EOI was May 2, 2020, but it was extended again from March 31, 2020 to June 13, 2020. On Wednesday, the government decided to extend this period till July 31, 2020. The Government of India has proposed a strategic sale of its entire shareholding in BPCL of 114.91 crore shares. The company is 52.98 per cent owned by the government. Management control along with shares in BPCL will also be transferred to the strategic buyer, although the government will sell BPCL's 61.65 per cent stake in Numaligarh Ref

Mumbai, May 27, 2020, Wednesday Behind the world market saw a decline in domestic gold and silver. As the lockdown eases, the global economy is expected to recover and stock markets are booming and foreign investors are selling precious metals. The rise in crude oil prices has stalled amid unrest in Hong Kong and tensions between China and the United States. However, the rupee remained weak against major currencies. Gold, excluding GST of 99.50 per ten grams, which was closed at Rs 46,617 yesterday, fell to Rs 46,105 today. 99.90 Gold closed at Rs 46,290, up from Rs 46,799. Gold prices, along with GST, were three per cent higher. The price of silver .999 per kg excluding GST fell by Rs 47,625 to Rs 46,920. Prices with GST remained three per cent higher. World gold prices fell by 17 1,727.80 an ounce to 170 1,701.25 an ounce. Silver fell from ડો 17.39 an ounce to 17 17.05 an ounce. Platinum was trading at 83 833 an ounce at 84 846 while platinum was trading at 195 1957, down from 1

Ahmedabad, 27 May 2020, Wednesday Tea production has declined by 80 million kilograms due to the lockdown. The lockdown has also affected the operation of tea gardens. According to a detailed assessment prepared by the Western India Tea Dealers Association (WITDA), an association of leading tea traders in western India, on tea production and supply, there has been a decline of 80 million kilograms. Annual consumption of tea in Gujarat, Maharashtra and Rajasthan is 235 million kg It may be mentioned here that the WITDA started in 1989 has a large number of traders from Gujarat, Maharashtra and Rajasthan. The annual consumption of tea in these three states is 235 million kilograms. The main reasons behind the decline in tea production were low attendance of workers due to government restrictions in tea gardens, closure of tea shops on the roads, closure of restaurants, closure of offices, etc. There was a sharp decline in tea consumption. According to this, its consumption can be co

(By commerce representative), Mumbai, May 27, 2020, Wednesday The weather was mixed at the Mumbai Oilseeds Market today. Singtel prices fell sharply behind the scenes, while prices of various imported edible oils, including palm oil, rose sharply behind the world market. Palm oil futures in Malaysia rose 105 points today, while there was news that the price of palm products rose by થી 12.50 to 15 15.00. There were reports of increased demand from China and India, with palm oil exports rising by about 5 to 10 per cent in the first 25 days of this month. Sources in the futures market said that the rise in futures prices on the back of the domestic market for palm oil has led to a bullish circuit. Meanwhile, in the Mumbai spot market today, the price of cingulum oil fell by Rs 1,400 per 10 kg to Rs 1,380 to Rs 1,390 per kg, while the price of cingulum oil was Rs 1,325 per kg and that of cotton washed at Rs 770 to Rs 773 per kg. Experts were hoping for a big new summer peanut crop. P

(PTI) Mumbai on 26 May 2020, Tuesday As a result of the nationwide lockdown in the last week of March, India's economic growth-GDP growth is projected to reach 1.4 per cent in the last quarter of FY2017, according to a report. According to SBI's research report-eCorep, Gross Domestic Product (GDP) is expected to be 7.5 per cent for FY20 and minus 7.5 per cent for FY 2021. The GDP growth figures for the fourth quarter of FY2050 will be released by the National Statistical Office (NSO) on May 9, 2020. In the third quarter of FY20, GDP growth slowed to a seven-year low of 7.5 per cent. In the first quarter and second quarter of FY2050, GDP growth was 2.1 per cent and 7.5 per cent, respectively. According to the research report, GDP growth is projected at 1.4 per cent in the fourth quarter of FY2030. The last seven days of March will see economic activity stall due to the lockdown, the report said. According to the report, the loss in those seven days of lockdown has been Rs

(By representative), Mumbai, May 26, 2020, Tuesday In the Mumbai oilseeds market, various domestic edible oils were quiet today, while prices of various imported edible oils, including palm oil, were trading higher behind the world market. Malaysia's palm oil markets were closed today, while soyoil futures prices in the US agricultural markets were projected to rise 20 to 5 points in the projection this evening. The strength of crude oil was having a positive effect on the prices of edible oils in the world market. Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil has gone up by Rs 1,20, cottonseed oil by Rs 415, soybean oil digam by Rs 30 and refined by Rs 5, palm oil by Rs 415 to Rs 715, sunflower by Rs 20 and refined by Rs. 210, Rs. 500 of mustard was being bid. Crude palm oil (CPO) Kandla was up by Rs 5, while CPO futures were up by Rs 4.50 in the evening and soyoil futures by Rs 2.50, market sources said. Meanwhile, castor oil prices in the Mum

It has long been said that there should be work from home wherever possible. An outbreak of the corona virus has made that possible. Within a fortnight of the lockdown in the country, the Indian head of an international FMCG company said, "I used to go abroad several times a month, but now that the board meeting is taking place at home in Mumbai, my routine is about to change." With more than 90 days to go before the lockdown, work from home is also entering the government machinery. The Ministry of Personnel has also issued guidelines for work from home. As per the guidelines of the Central Government, the officers and employees of the Personnel and Training Department will be given the option to work from home for 15 days in a year. The central government has 2.5 lakh employees. The Ministry of Personnel has told all the central departments that it has become necessary to work from home in many ministries to maintain social distance. During the lockdown period, people in

(By delegate) Mumbai, May 26, 2020, Tuesday The Corona epidemic has turned all trade-off equations into a two-month lockdown. Its special impact has been on the agricultural sector where estimates of production, revenue, import-export, closing stock at the beginning of the season (September-October) have completely changed due to Kovid-12. The entire economy of the agricultural sector has faltered. Cotton Assoc. In the Rooney Balance Sheet released by the Government of India for the 2017-2020 season (October-September) till the end of April 20, the figures for all items except growth in exports have been significantly reduced as compared to the preliminary estimate for the first month of October-19. Due to the April-May 30 lockdown, the local and global trade process came to a complete standstill. According to CAI data, cotton production in the country has declined by 3.50 lakh bales to 20 lakh bales (2.50 lakh bales) as compared to the first estimate on October 19, imports have de

Mumbai, May 26, 2020, Tuesday As lockdowns are being phased out across the country, the use of private vehicles using public transport to reach their destinations is on the rise. The increasing use of private vehicles has also increased the demand for cars, especially secondhand cars. Demand for second-hand cars is unprecedented. Inquiries for second-hand cars have almost doubled during the lockdown period compared to the time before the lockdown, according to a survey of about 100 dealers and car buyers. Demand for used cars at dealers has been strong in the last few weeks, and is expected to grow as the lockdown eases. Consumers are increasingly interested in buying second-hand cars, especially smaller ones, due to lower income levels and health-related safety, said an organized second-hand car dealer. Inquiries for a particular vehicle, which used to be around 15 per cent before the lockdown, have now doubled to 5 per cent. Inquiries for new vehicles have fallen from 21 per cen

Mumbai, May 26, 2020, Tuesday The local gold and silver market behind the world market witnessed mixed weather today. Gold prices softened while silver prices rose. Oil prices continued to improve while the dollar weakened against the rupee in the currency market. Gold prices fell locally as the dollar weakened. In the domestic gold and silver market, the gold price of 10.50 per ten grams, which was quoted at Rs 2,000 exclusively in the private sector yesterday, closed at Rs 215 today. Gold was down by Rs 4,150 to close at Rs 5. Prices with GST were quoted three per cent higher. Silver. The price of one kg excluding GST which was Rs. 200 in the closed market yesterday has gone up to Rs. 4 today and finally closed at Rs. Three per cent were talking higher with GST. Gold for immediate delivery traded lower at ૭૨૭ 19.50 an ounce, while silver jumped by ૭ 16.05 an ounce to ૭ 16.8 an ounce and traded at ૭ 17.8 an ounce. Funded silver was considered to be cheaper compared to gold. The

- Nifty spot down 10 points 9029: Mega deals in Bharti Airtel buy FPIs / FIIs for Rs 4716 crore in cash, DIIs buy for Rs 2841 crore in cash Mumbai, May 26, 2020, Tuesday The world is on the verge of emerging from the Corona epidemic and many countries are trying to revive the economy by slowing down the lockdown, at a time when the number of corona leaps and bounds in India is on the rise and now the border between India and China is at Ladakh. Indian stock markets were seen offloading today on cautious global markets amid rising tensions as well as rising US-China tensions. The US dollar had lost 7 paise to Rs 4.5 against the rupee. International crude oil prices were up 7 cents at ૩૬ 3.05 a barrel and Brent crude was up 5 cents at ૯૯ 4.5 a barrel. With the resumption of vehicle production by automobile companies led by FMCG giant ITC and short covering in auto stocks in anticipation of growth in rural demand, power-capital goods stocks with metal-mining stocks and bank-led shares

New Delhi, 26 May 2020 Tuesday Credit rating agency Crisil said on Tuesday that India was facing its worst recession ever. This is the fourth post-independence and the first post-liberalization recession, he said. According to the credit rating agency, the economy is expected to shrink by 5 per cent in the current financial year due to the Corona virus epidemic and the ongoing lockdown. The growth rate could fall to 25 percent in the first quarter "India's GDP is expected to decline by 25 per cent in the first quarter (April-June) of the current financial year," Crisil said. He said, "On a real basis, about 10 per cent of GDP could be permanently depleted. In such a scenario, the growth rate that we have seen before the epidemic will be difficult to see or achieve for the next three financial years. Weak monsoon is the main reason for the three-time recession so far According to available data, in the last 69 years, the country has experienced a recession in

New Delhi, 26 May 2020 Tuesday The economic downturn due to the Corona lockdown is also having an impact on the economy, with various companies resorting to layoffs to reduce their costs, as well as well-known online cab service provider Uber laid off 600 workers in India. The layoffs come from customer and driver support, business development, legal, finance, and marketing verticals, with these 600 employees accounting for about 25 percent of Uber's total workforce in the country. Ola, Uber's rival in the cab service sector, has also laid off staff to deal with the Corona disaster. Last week alone, Ola laid off 1,400 employees, accounting for 35 percent of Ola's total workforce in the country. Uber has announced that employees affected by the layoffs will be given 10 weeks pay-out and medical insurance coverage for the next 6 months, all of the 600 employees the company has laid off were permanent employees. Uber's India and South Asia president Pradim Parmeshwa

Ahmedabad. Monday, May 25, 2020 Foreign portfolio investors (FPIs) have taken a cautious stance even amid the volatile environment in Indian stock markets caused by the Koro epidemic. However, due to the availability of good stocks at low prices in the market, they have so far raised Rs. More than Rs 5,000 crore was taken by new borrowers. According to market insiders, a cautious approach has been adopted by foreign investors in India amid the implementation of the lockdown. As part of the exercise, foreign investors saw a significant drop in their sales in April compared to March. Thus, after a two-month break, they once again turned to the Indian stock market. Significantly, they have made a net investment in equities in May, despite selling by foreign investors in 12 of the 14 trading sessions so far in May. According to the data available from the depository, in the current May. Foreign portfolio investors raised Rs. A new takeover of Rs 3,04 crore was undertaken. However, du

(By representative), Mumbai, Ta. Monday, May 25, 2020 The Mumbai Oilseeds Market was officially closed today in the wake of Eid and Bank Holiday. In the closed market, private trade was in full swing and prices of various domestic and imported edible oils were fluctuating. In the world market today, there was news that Malaysian palm oil markets as well as US agricultural markets were closed due to Eid and Memorial Day. Palm oil was quoted at Rs 205 per 10 kg in the Mumbai spot market today. The new demand was winged. Cingulum oil prices were quiet at around Rs 1,20. Meanwhile, according to sources in the Navi Mumbai Peanut Market, groundnut prices in the Navi Mumbai market were higher today after various producers' groundnut production slowed down due to new summer crop inflows. In Navi Mumbai market, the price of 1 quintal of groundnut is Rs. 2,500 to Rs. 2,200 per variety of bold malo and Rs. 10,600 for 50-60 counts, Rs. Rs.5,100 for 200 and 50-60 counts were being bid. How

(PTI) Mumbai, Ta. Monday, May 25, 2020 Out of the increase in market capitalization of the country's 10 most valued companies last week, the market capitalization of four companies has increased by more than Rs 1.15 lakh crore. Tata Consultancy Services (TCS) topped the list. The other three companies are Bharti Airtel, Infosys and ITC Limited. The combined market capitalization of Reliance Industries, Hindustan Unilever, HDFC Bank, HDFC Limited and Kotak Mahindra Bank has declined by Rs 2.50 crore on an aggregate basis. TCS's market capitalization rose by Rs 2,12.51 crore to Rs 2,8,6.51 crore last week. ITC Ltd's market cap has increased by Rs 4.5 crore to Rs 2,8,8 crore and Bharti Airtel's market cap has increased by Rs 21,8 crore to Rs 2,8,617 crore. While the market cap of Infosys has increased by Rs 12,017 crore to Rs 2,8,8 crore. Against this, HDFC Bank's market capitalization fell by Rs 2,08 crore to Rs 2,50,09 crore. HDFC Ltd's market capitalization f

Mumbai, Ta. Monday, May 25, 2020 Indian stock markets were closed today-Monday on the occasion of Ramadan Eid. Global stock markets were closed today on the occasion of Memorial Day in the US. Markets in the UK were closed for the time being. Tensions between the United States and China are mounting, with the United States approving a bill to delist Chinese companies from its stock markets and urging the world to unite against China. China has also warned of retaliatory measures against the United States. Markets in many countries in Asia and Europe saw a rapid recovery today as many countries began to reactivate their economies by freeing themselves from lockdowns after a long period of global downturn caused by the Corona epidemic. The Singapore Nifty was up 5 to 20 points in the late evening to close at 3100. Among Asian markets, Japan's Tokyo Stock Exchange Nikkei Index rose 2.7 points to 20,31.5, Hong Kong's Hang Seng Index rose 2.10 points to 8,6.5 and China's CSI

(Commercial Representative) Mumbai Ta. Monday, May 25, 2020 Housing Development Finance Corporation (HDFC) Limited has released the expected weak results for the fourth quarter ended March 31, 2020. The company's net profit fell 21.5 per cent to Rs 5 crore from Rs 5 crore in the year-ago period. The company has declared a dividend of Rs 21 per share. The company's dividend income has come down to Rs 2 crore this time as compared to Rs 3 crore in the same period last year. Apart from this, the company's profit on sale of investments has also declined to Rs 5 crore this time as compared to Rs 21 crore in the same period last year. Keki Mistry, vice-chairman and CEO, HDFC Ltd, said that in FY20, the company has approved home loans of 5 per cent of the total volume and loans of 15 per cent to people from the economically weaker sections and low-income groups. The company's quarterly net interest income rose 15 per cent to Rs 20 crore from Rs 5 crore. Net interest margi

(Commercial Representative) Mumbai Ta. Monday, May 25, 2020 The time has come for Anil Ambani, once one of the richest men in the world, to fall into his debt trap and sell his assets to pay off his debts at home and abroad. A London-based court has ordered Anil Ambani to repay ૭ 215 million in 21 days to a banking consortium headed by the Industrial Bank of China (IBP). Reliance Infrastructure, part of the Anil Ambani Group, has stopped KPMG from finding buyers to sell its 21 per cent stake in BSES Rajdhani Power (BRPL) and BSES Yamuna Power (BYPL). The Delhi government holds the remaining 8% in these companies. It is learned that bids have been submitted by three bidders to sell its holding by the Anil Ambani Group. The bid was by India's private power producer-distributors Greenco and Torrent Power, as well as by Italy's largest utility company, Anel Group. In terms of customers, Delhi Electricity Distribution Business is the largest unit in India. Meanwhile, Reliance G

New Delhi, Monday 25 May 2020 Mahindra Group Chairman Anand Mahindra today issued a statement against increasing the lockdown. He has directly stated that increasing the lockdown is not only financially disastrous, But it is creating another medical crisis. However, with his statement on Monday, he also said that policy makers do not have easy options, but increasing the lockdown will not help. Anand Mahindra has again given its opinion on the lockdown extension via Twitter. "Increasing the lockdown is not only financially disastrous, as I said in my first tweet," he said. But it leads to another medical crisis. To this end, he cited an article, "The Dangerous Psychological Effects of Lockdown and the Great Fear of Ignoring Non-Cowid Patients." Mahindra, which has proposed a massive removal after a 49-day lockdown, also said, "Policymakers do not have easy options, but increasing the lockdown will not help." "The number (corona virus) will incre

New Delhi, Monday 25 May 2020 For the first time in the history of the Tata Group, about 20 per cent of the salaries of the Tata Sons chairman and all CEOs of subsidiaries will be deducted. The company has taken these steps to compensate for the damage caused by the Corona virus epidemic. Tata Consultancy Services (TCS) has been the first to cut the salary of CEO Rajesh Gopinathan, sitting on the group's most important post and giving the company the most benefits. Which has also been announced. India Hotels had earlier said that the senior leadership would give a portion of its salary to the company this quarter to offset the losses. The cuts will also be made on the salaries of CEOs and MDs of Tata Steel, Tata Motors, Tata Power, Trent, Tata International, Tata Capital and Voltas. An official familiar with the company's move said there would also be a reduction in bonuses for the current financial year. A nationwide lockdown was declared due to the Corona epidemic. Many

New Delhi, Monday 25 May 2020 The government sold 25 lakh units of gold bonds in May, earning Rs 1,168 crore, according to data released by the Reserve Bank of India, which is the largest gain by sovereign gold bonds. The gold bonds were opened for subscription between May 11 and 15 at a price of Rs 4,590 per unit, one gram of gold bonds per gram. So far, 39 subscriptions of gold bonds have been issued, with the highest earnings from gold bonds in October 2016 before May. In October 2016, a total of Rs 1,082 crore was subscribed, with a total of 35.98 lakh units sold. In April 2020, investors bought 17.73 lakh units with a total value of Rs 822 crore. However, in any financial crisis or at a time when the market is in turmoil, investing in gold is considered to be the best option, as the risk is low and the returns are good. Gold has seen a 40 per cent return in the last one year, according to a report by the World Gold Council. If we talk about the price of gold, once again it

New Delhi, 24 May 2020 Sunday The Indian economy could go into recession in the third quarter of the current financial year 2020-21. This is estimated in a report. Consumers will remain vigilant for a long time after the Corona virus outbreak, along with declining incomes and employment, according to an economic review report by Dawn & Breadstreet. This will delay the improvement in consumer demand. "Improvement in the country's economic growth will depend on how long the stimulus package provided by the government is implemented," the report said. Arun Singh, chief economist at Dawn & Broadstreet India, said, "The impact of stimulus measures on the Indian economy will depend on three main factors: the duration of the lockdown, the implementation capacity of the package and the time it takes." The report, however, said that a larger-than-expected package from the government would help resume economic activities. In addition, the Reserve Bank has

New Delhi, 24 May 2020 Sunday Leading car manufacturing companies such as Maruti Suzuki, Honda, Toyota and Tata Motors are hoping to increase demand for private vehicle sales following fears of the Corona virus and social distance rules when meeting someone. Companies believe that people will prefer to stay away from public transport. Maruti Suzuki India, the country's largest car maker, expects demand for low-cost cars to pick up after the lockdown. "People will prefer private vehicles over public transport," said Shashank Srivastava, executive director (marketing and sales) of the company. This has also come to the fore in the Wound Consumer Survey. "As economic activity slows down and people's purchasing power is affected, people will choose to buy smaller or lower priced cars for travel," he said. In particular, the number of customers who are buying a car for the first time will increase. We are seeing that trend at about 1,800 of our own dealersh

- Franklin Templeton defaults: Essel Group fails to meet Rs 215 crore NCDs maturity - Shares of Zee Entertainment Enterprises, Dish TV India, Unlisted EIL and Personal Guarantee of Subhash Chandra for NCDs (Commercial Representative) Mumbai Ta. May 23, 2020, Saturday Distributors have been informed in a note that the debt-debt issued by Franklin Templeton Mutual Fund Essel Infraprojects Limited has defaulted. The note states that Issuer-Essel failed to fulfill its maturity obligation at maturity. According to the information obtained in this case, the mortgage value of this debt-debt is much higher than the value of the debt they have. So that these schemes have no effect on the NAV. The paper-debt is in the form of non-convertible debentures (NCDs), backed by shares of Zee Entertainment Enterprises, Dish TV India, Unlisted EIL and a personal guarantee from Subhash Chandra, Franklin's note said. It is not clear if Franklin Templeton AMC has tried to sell any of these mortga

(Commercial Representative) Mumbai, Ta. May 23, 2020, Saturday The local gold and silver market, which closed on Saturday, witnessed a rise in private prices. The rise in gold and silver in the world market was due to the rise in unemployment claims in the United States. Lockdowns are reopening around the world and as aviation and industrial activities begin, crude oil closed higher last week. The rupee strengthened against the dollar at home. Gold ETFs have also seen significant flows globally in the current year. In the domestic gold and silver market, the price of gold, which is 8.50 per gram, excluding GST, which closed at Rs 511 yesterday, rose to Rs 200 in private today. The price of gold rose from Rs 2,100 to Rs 30 in private. Prices with GST were quoted three per cent higher. Silver. 3, which was closed at Rs 305 per kg excluding GST yesterday, jumped to Rs 200 today. Gold for immediate delivery traded at ડો 18.50 an ounce and silver at ૭ 16.5 an ounce over the weekend. In

(Gujarat News Correspondent) Mumbai, Ta. May 23, 2020, Saturday Despite the recent announcement of an economic stimulus package of Rs 20 lakh crore by the central government to rescue the country from the Great Depression caused by the Corona epidemic, the Reserve Bank of India has also taken steps to alleviate the liquidity crunch in the country and provide temporary relief to people. The move is inadequate and the market, like this heart-wrenching peacock, has lashed out at banking-finance stocks last week. Even the Reserve Bank of India (RBI) itself has acknowledged that it is extremely difficult to get the economy out of this predicament and has downgraded India's economic growth-GDP growth forecast for the current financial year. Even the international rating agency Moody's has predicted that India's economic growth will now be minus zero, giving a clear signal that the coming months, not the coming months, will be extremely challenging for the economy and corporat

Mumbai, Saturday 23rd May 2020 Taking cognizance of the chargesheet filed by the ED in the Yash Bank case, the special court has issued summons to Rana Kapoor, the special court has issued summons to 7 people other than Rana Kapoor. The ED filed a chargesheet earlier this month, naming Rana Kapoor, his wife, daughters and three others as the main accused. ED counsel Hiten Venegavokar said the summons were issued by a special PMLA court on Saturday in cognizance of the case. He said the accused are scheduled to appear before the court on June 5. The ED has already taken Yash Bank promoter Rana Kapoor into judicial custody, with the agency estimating embezzlement of Rs 5,050 crore in the case. The ED has found Rana Kapoor, his wife and three daughters guilty of fraud worth Rs 600 crore in an initial probe, alleging that he had laundered money through a firm linked to DHFL.

Mumbai, May 22, 2020, Friday The new non-performing assets (NPAs) of Rs 3.50 trillion are expected to emerge in the banking sector in the current financial year due to tensions arising from the severe economic shocks due to measures taken to curb the coronavirus. The new NPAs accounted for Rs 2.50 trillion out of corporate loans, while the retail, pharmaceutical and MSME sector loans stood at Rs 2.10 trillion, according to a rating agency. Banks have faced high provisioning pressures between FY2030 and FY2030. Banks have to calculate the amount of loans under stress. Measures related to Kovid-12 will create another cycle of stress. In addition, the strain on non-corporate segments will be widespread. Tensions against these segments began to show even before the spread of covid. The current financial year, 2021, will see a sharp decline in revenue in most sectors of India due to a significant decline in economic activity. Revenue is declining as demand and supply conditions are di