Market and Business News

(Gujarat News Correspondent) Mumbai, Ta. 31 August 2020, Monday Tensions escalated today after reports of renewed friction between the two countries' troops on the Indian Ladakh border by Chinese troops trying to infiltrate the border again. The expected correction-decline began today as Indian stock markets braked a relentless surge in stocks. With the border tensions today, the capital market regulator Sebi has also been adamant in implementing a new pledge and re-pledge margin system in Indian stock markets from tomorrow, Tuesday, September 1, 2020. Reports of brokers' extension requests were rejected. . Fund-brokers hammered heavily into stocks today amid estimates that the new pledge system would pose major hurdles from tomorrow. Overbought The long-overdue correction in Indian stock markets began today. Pharma-Healthcare, Banking-Finance, Automobile, FMCG, Power-Capital Goods, Metal-Mining stocks are being hammered and Metal, Realty, Oil-Gas stocks are also rising sharp...

(By commerce representative), Mumbai, Ta. 31 August 2020, Monday In the Mumbai oilseeds market, prices of various domestic and imported edible oils continued to rise. World market news was also encouraging, with domestic manufacturers also reporting higher prices. Meanwhile, news came from Delhi that the central government had changed the tariff value used as a benchmark to calculate import duty on various edible oils imported into the country. Such tariff value has been increased by the government for palm oil, while it has been reduced for soyoil, market sources said. Meanwhile, soybean prices in the world market were on the rise today with news of a new two-year high. Global soybean prices have been rising steadily for the past six days and the last such rise was in June 2017, experts said. The rise was prompted by rising Chinese demand for soybeans and unfavorable weather in the United States, experts said. Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oi...

Mumbai, Ta. 31 August 2020, Monday Most of the companies benefiting from the moratorium were facing financial stress even before the coronavirus spread. The ratings of most of these companies were also below the investment grade. According to a report by ratings agency Crisil, three out of four of the more than 200 non-financial companies that took advantage of the moratorium under its rating were sub-investment grade and most of them were already facing a sluggish economy. The cash flow was severely affected by the sluggish economic activity that continued in the current financial year, but the moratorium facility provided great relief to the companies. The Reserve Bank of India (RBI) has offered three months' repayment of loans to borrowers as economic activity slows down due to the spread of coronavirus. The 6-month moratorium is over today. With the completion of the moratorium, the banks will now embark on a restructuring exercise. Due to the moratorium, medium-sized sub...

(By commercial representative) Mumbai, Ta. 31 August 2020, Monday The government had announced a monthly sales quota of 1.50 lakh tonnes for the 20-month period in September, to calculate the festive season. With the Navratri and Dussehra festivals coming up in October this year due to overcrowding, the market is likely to see a slump in the end of the September season, market sources said. Even in the month of August 20, Ganpati Utsav, Janmashtami, Rakshabandhan festivals were usually celebrated at home, with a monthly quota of 20.50 lakh tonnes dominating the market. Prices from spot to mill tenders have fluctuated between Rs 8 and Rs 10 per head over the last twenty days. Ronak was lacking in the market even after the September quota was announced on Monday. At present in Vashi, the price of Asgrad was Rs.505- Rs.2 and that of Amgrad was Rs.803- Rs.152 per quintal. Naka prices were fixed at Rs. The tenders of the mills were expected to range from Rs. The undertone of the marke...

(By commercial representative) Mumbai, Ta. 31 August 2020, Monday The rupee depreciated against major global currencies, including the dollar, after reports of Chinese attempts to infiltrate the Indian border again. Globally, gold was also fluctuating while silver was up. Crude oil saw an improvement. At home, the GST-free price of one kg of silver in the Mumbai market, which was Rs 200 at the end of last week, has gone up to Rs 215 today and finally closed at Rs. The GST-free price of 10.50 per ten grams of gold, which closed at Rs 31,150 last weekend, closed at Rs 31,081 today, while the price of ten grams of gold 7.50, which closed at Rs 31,600, closed at Rs 319. Prices with GST were quoted three per cent higher. In the Ahmedabad market, the price of 9.40 gold per ten grams was Rs 200 and the price of 5.50 gold was Rs 200. Silver was trading at Rs 2,000 per kg. In the global market, gold was trading at around ૯૬૬ 16 an ounce, compared to 14 an ounce, while silver was trading at...

(Commercial Representative) Mumbai, Ta. 31 August 2020, Monday The Securities and Exchange Board of India (SEBI), the regulator of the capital market, has decided to implement a new pledge and re-pledge system from September 1, 2020. SEBI has reportedly rejected a request by brokers to postpone the implementation of the new system for a month after depositors CDSL and NSDL said they were ready for the new system. SEBI, after meeting Market Infrastructure Institutions (MIIs), stock exchanges, depositories and clearing corporations today, clarified that the new system will be implemented from September 1, 2020. SEBI has received feedback from clearing corporations, depositors, professional clearing members (PCMs) and information technology vendors on the implementation of the new pledge and re-pledge system from September 1, 2020. Of course the PCMs demanded a one month deadline extension. The major PCMs include Axis Bank, Edelweiss Securities, ICICI Bank, Kotak Mahindra Bank and Glob...

New Delhi, 30 August 2020 Sunday The Employees Provident Fund Organization (EPFO), which manages the retirement fund, has settled 46 lakh withdrawal claims to help its clients overcome the difficulties caused by COVID-19. Under this, the organization has paid Rs 920 crore, the EPFO ​​said. Under the Pradhan Mantri Garib Kalyan Yojana (PMGKY), the government has provided a non-refundable advance payment scheme in case of CWID-19 crisis. The scheme was launched in April. Under this, EPFO ​​stakeholders can withdraw half of the total deposit from their Provident Fund account or three months' basic salary plus basic allowance plus whichever is less. The EPFO, which is leading the social security campaign, has so far settled about 46 lakh claims since the Kovid-19 epidemic and has disbursed about Rs 920 crore, the EPFO ​​said in a statement. The EPFO ​​has set a maximum three-day limit for settling provident fund withdrawal claims in view of the difficulties related to Covid-19. Ac...

New Delhi, 30 August 2020 Sunday Merchant Discount Rates (MDR) will no longer be charged on digital transactions. If the MDR charge is deducted on any transaction after January 1, 2020, the banks will also refund it to the customers. The Central Board of Direct Taxes (CBDT) on Sunday notified the banks. The central government issued a circular in December last year stating that from January 1, 2020, no other charges, including MDR, would be levied for payments through electronic mode. Indeed, the government has taken this decision to promote digital transactions in the country. The directive issued by the CBDT states that some banks are charging certain charges for making payments through UPI (Unified Payment Interface). This includes charging customers after a certain limit transaction. By doing so, the banks are violating the rules and necessary action can be taken against them. What happens is MDR There is a fee that shoppers charge you by debit, credit card or digital payment...

New Delhi, 30 August 2020 Sunday The telecom industry's revenue is expected to grow by 14 to 15 per cent in the current financial year (2020-21). The Cellular Operators Association of India (COAI), an association of telecom companies, has estimated this. The COAI said the average earnings per operator (ARPU) of the operator has increased slightly, which is expected to increase their overall revenue. However, the number of mobile connections during the financial year is expected to remain the same. During this time, the number of connections in rural areas will increase, which will offset the decline in the number of customers in urban areas. The newly appointed Director General of COAI, S.P. Kochhar said data usage per customer will increase from 12GB to 15GB next year. The average revenue per subscriber will grow this year, but it remains to be seen if this increases significantly. Kochhar told PTI that it is not a good position for the existing three-four private companies to ...

(Gujarat News Correspondent) Mumbai, Ta. Saturday, August 29, 2020 As the monsoon continues to be very successful across the country, the number of coronavirus infections is on the rise, but economic activity in the country is also on the rise, attracting more foreign funds to invest in Indian stock markets. With the Indian economy expected to recover and the monsoon successful, the recovery is expected to accelerate in the coming days, with the incentives being given to industries by the central government increasing the value-buying in foreign investors' stocks at attractive prices. In the weekend of the August trend, funds have rallied sharply in banking and finance stocks, pushing the Sensex above 500 and the Nifty above 11,500. However, given the precautionary warning issued by Reserve Bank of India Governor Shaktikant Das last week, saying the current market boom in the overbought market does not suit the economy, caution may be needed at any time. So now with the rise in f...

Mumbai, Ta. Saturday, August 29, 2020 With the moratorium expiring on August 31, the eyes of borrowers are now on the Reserve Bank. The RBI moratorium is unlikely to be extended as the corona has facilitated the moratorium and there are indications that economic activity in the country is picking up again. The RBI will also keep an eye on the loan restructuring exercise after the moratorium is completed. Extending the moratorium could affect borrowers' willingness to repay loans, the RBI said. Since March 1, 2020, the Reserve Bank has provided moratorium facilities for a total of 6 months. In addition to commercial houses, this facility has been provided to individual loan holders. There is no denying the possibility of pressure on the banking system if the moratorium facility is extended further, a Reserve Bank official said. Banks' cash flow is currently stagnant. It is estimated that 40 to 5 per cent of the total loan holders have availed this facility. The condition o...

Mumbai, Ta. Saturday, August 29, 2020 By the end of this week, the country's kharif sowing has reached an all-time high of 104 million hectares. Crops with high planting area are also expected to land bumpers. According to preliminary estimates, the current kharif season will see a harvest of 127 million tonnes. Earlier in 2016, there was an all-time high kharif production of 102 million tonnes. Inflation is expected to go down in the country due to high kharif production. The Reserve Bank has set a target of keeping inflation between 6 and 7 per cent Since April this year, retail inflation in the country has been above 5 per cent. Inflation has risen due to higher food prices. The prospect of record kharif crop has raised concerns among farmers as prices of agricultural products are falling in such a scenario. The kharif sowing of the current year is 2.16 per cent higher than the same period last year and 1.50 per cent higher than the average of the last five years. Corona ha...

(By commercial representative) Mumbai, Ta. Saturday, August 29, 2020 The local market closed behind the world market and saw a mixed flow in gold and silver. In private, the dollar was softening and crude oil was also weakening. In the Indian market, the discount on gold is being quoted at a five-month high above the official price due to declining demand for gold. At home, the Mumbai gold and silver market was closed on Saturday. The price of ten grams of gold, excluding GST, rose to Rs 31,150 from Rs 305 in the previous session. Gold was trading at Rs 31,400, up from Rs 31,150. The price of one kg of silver, excluding GST, which was Rs 6 yesterday, was Rs 500 today in private. Prices with GST were quoted three per cent higher. In the Ahmedabad market, gold was priced at Rs 600 per ten grams at Rs 2.50 and Rs 200 at Rs 4.50. Silver was trading at Rs 2,000 per kg. Dealers are offering higher discounts than the official price as demand has not improved despite the fall in gold pric...

(Commercial Representative) Mumbai, Ta. Saturday, August 29, 2020 Both brokers and depositors have demanded that the new standards on margin pledge and replacement (MPR), effective September 1, 2020, be postponed for another month. It has been demanded to postpone these new standards on the ground that they are not technically ready to prepare the proposed framework. The new standards on margin pledges will come into effect from September 1, 2020. A meeting of brokers, depositories and clearing corporations has been convened again next Monday by the Securities and Exchange Board of India (SEBI) to analyze the implementation of the MPR process. In a letter to SEBI, the Association of National Exchange Members of India (NMI) said the MPR process is still incomplete and if the implementation of the new system is not postponed, the market is likely to face a major setback in the coming weeks. The NMA has also told Sebi that operations in the depositories have not yet stabilized, the UC...

New Delhi, Saturday 29 August 2020 The country's foreign exchange reserves rose to, 5,37548 billion during the week ended August 21 from 2. 2.296 billion. Gold reserves fell by 33 331 million to .2 37.264 billion. This is according to data released by the Reserve Bank of India (RBI) on Friday. During the week ended August 14, foreign exchange reserves fell by 2.939 billion to હ 535.252 billion. Has touched a record high of 8 538.191 billion Foreign exchange reserves also rose by 3. 3.623 billion to a record 53 538.191 billion in the week ended August 7. The main reason for the increase in foreign exchange reserves is the increase in foreign exchange reserves, which is an important part of foreign exchange. The country's foreign exchange reserves increased by 2. 2.618 billion to 49 494.168 billion during the period under review. The value of foreign currency assets is also influenced by the flow of dollars and the fluctuations in exchange rates with the dollar in currencies ...

New Delhi, Saturday 29 August 2020 Beverage company Coca-Cola has announced layoffs of thousands of workers in the Corona virus crisis, restructuring Coca-Cola Rota's workforce as well as reducing its operating units. Such a move is being taken by the company, a statement issued by the company indicates that such decisions may have to be taken further. The world's largest beverage company said the voluntary redundancy program would help cut costs to some extent, reducing the cost of the company's previous global separation program by 5 550 million to 350 350 million. With the closure of bars, restaurants and cinema halls, the company's sales have plummeted, with most of Coca-Cola's products being the most sold here on a normal day. The Bottling Investments Division will also be involved. Under the current model, the company has 17 business units. The retrenchment by Coca-Cola comes at a time when applications for Unemployment Benefits are on the rise in the Uni...

(Gujarat News Correspondent) Mumbai, Ta. 28 August 2020, Friday As Japanese Prime Minister Shinzo Abe resigns due to his ill health, Asian markets are cautious today. The Nifty spot jumped 3.41 points and the Nifty spot jumped 3 points to 17.5. The BSE Bankex Index jumped 106.15 points to close at 31.81, as funds rallied in banking-finance stocks over the weekend. The index-based market was bullish for the sixth day in a row today. Profit booking was done in automobile, IT stocks against the preference of oil-gas, power-capital goods stocks. This was followed by profit booking over the weekend in several small, mid-cap, cash stocks. The US dollar had lost 7 paise to Rs 4.5 against the rupee today. Banking stocks of Sensex funds rebounded intra-day by 4 points Trading started strong today. The Sensex opened at 2.37 against the previous close of 7118.5. Infosys in IT stocks, Mahindra & Mahindra in automobile stocks with HCL technology, Power Grid Corp with Bajaj Auto in stocks, B...

Mumbai, Ta. 28 August 2020, Friday The central and state governments are almost at loggerheads over the issue of Goods and Services Tax (GST) rebates. It has been alleged by some states that the central government is trying to press our noses. At the GST Council meeting on Thursday, the Center discussed with the Reserve Bank the need for the states to provide a special window at a lower interest rate to cover a deficit of Rs 2,000 crore or a full reduction of Rs 2,000 crore in GST returns in the current financial year. Due to Kovid-18, the revenue from GST of the Center and the states has come down drastically. The Center is bound to compensate the states for the shortfall and it should raise money from the market and pay compensation to the states, said Chhattisgarh Finance Minister T.K. S. Said the lion god. The Center is constitutionally responsible for paying compensation, he claimed. The option of taking a loan from the Reserve Bank will not work for Delhi as it is not a ful...

(By commercial representative) Mumbai, Ta. 28 August 2020, Friday The world market saw a rally in the precious metal after the US Federal Reserve Chairman Jerome Powell's observation of the US economy while the dollar index fell. At home, the dollar weakened and gold and silver prices fell. Domestically, the dollar was at a five-month low. Crude oil is also showing weakness again. At home, the GST-free price of 10 grams of gold in the Mumbai market, which was Rs 21,018 yesterday, fell to Rs 305 from Rs 31,015 and finally closed at Rs 305. Gold rose to Rs 705 from Rs 315 at the end of the day and finally stood at Rs 3111. Prices with GST were three per cent higher. Silver. The price of one kg fell from Rs. 511 to Rs. 511 and finally closed at Rs. Prices with GST were three per cent higher. Ahmedabad market saw a stabilization in prices. The price of ten grams of gold at Rs 2.50 was Rs 300 and Rs 9.50 per ten grams. Silver.2 The price of one kg was Rs. Prices in the global market...

Ahmedabad. 28 August 2020, Friday Smallcap and midcap stocks have also risen by as much as 30 per cent on the back of a significant increase in retail investors since the lockdown. According to market insiders, 2.5 million new demat accounts have been opened so far since the lockdown. People opened a large number of online demat accounts because they had to stay home during the lockdown. Most of the people who opened new demat accounts were small investors who entered the market for the first time. They started trading in the stock market as part of an alternative arrangement that adversely affected revenue due to the lockdown. As these new investors entered the market with limited capital, they focused specifically on small cap and midcap stocks. As a result, small-cap stocks, which have seen large-scale trading in the sector by these new investors, have risen by as much as 30 per cent. The smallcap index has so far risen 5 per cent from the bottom in March, with new retail inves...

Mumbai, Ta. 28 August 2020, Friday Indian steel companies have decided to hike prices of their products from September on rising production costs and rising international prices. The decision to hike the price from September has been taken keeping in view the current gap between the domestic and international prices of steel, which is 4 to 5 per cent, an official of a steel company said. However, he declined to say how much the price hike would be. Iron ore prices are at a three-year high. International steel prices have also gone up in August. According to steel market sources, prices have been hovering in the range of Rs 2,000 to Rs 3,000 per tonne since September. Demand for steel is rising worldwide and average August sales were reported to be at the previous level of Corona. As a result, steel companies are considering raising prices, the sources added. According to the Joint Plant Committee, the exports of semi-finished steel in the first four months of the current financial ...

(By commerce representative), Mumbai, Ta. 28 August 2020, Friday In the Mumbai Oilseeds market today, the prices of various imported edible oils moved higher on the back of the global market, while domestic edible oils also witnessed fluctuating strength. World market news was encouraging. However, new demand slowed down in the domestic market today on the back of high palm oil and sporadic trade in hawala resell, market insiders said. In the global market, palm oil futures in Malaysia rose 3 points today, while palm product prices were quoted as high as 2.50. News from the US agricultural markets was also bullish. Meanwhile, palm oil prices rose by Rs 20 per 10 kg in the Mumbai spot market today, while crude palm oil (CPO) Kandla rose by Rs 3. In the futures market, CPO futures were quoted at Rs 4.50 and soyoil futures at Rs 4.50 this evening. In the Mumbai spot market, soyoil prices were quoted at Rs 30 for digam, Rs 30 for refined, Rs 30 for sunflower, Rs 30 for refined and Rs 1...

New Delhi, 28 August 2020 Friday The bank's board bureau has recommended Dinesh Khara, managing director of SBI, to be made chairman of the bank. On the other hand, SBI Managing Director Chala Srinivasulu Shetty has been placed on the reserve list. The Board has forwarded the recommendation to the Union Finance Ministry. The ministry will now make its final decision on the recommendation. The bank's board bureau said in a statement on Friday that Dinesh Kumar Khara has been promoted as the new chairman of SBI in view of his performance and experience. The decision was earlier taken by the board with the signatures of four managing directors of SBI. Let me tell you that the Bank Board Bureau was set up in 2016 to make appointments of full-time directors and non-executive chairmen. Sends its recommendations to the Government in respect of these appointments. On the basis of which the government makes a decision. Let me tell you that the chairman of SBI is Rajneesh Kumar. Who...

New Delhi, 28 August 2020 Friday The Ministry of Aviation has taken a strict stance against passengers who do not wear face masks during air travel. The government's aviation regulator DGAC has issued an order that passengers who do not wear face masks during air travel will be placed on a "no-fly list" for their next trip. No fly list means and conditions Being on the no-fly list means that anyone who does not wear a mask while traveling will not be allowed to travel on any of the upcoming airlines. No fly list means black list in another way. The names involved will be handed over to all the airlines. It will be the responsibility of the airlines to stop the passengers for the next flight. The flight crew member will decide the name of the no-fly list The DGC has given the right to add the name of the passenger who did not wear face mask even after insistence to the no-fly list to the flight crew members and flight commander. According to the DGCA, only those pas...

New Delhi, 28 August 2020 Friday The downturn in the Indian economy has already been exacerbated by the Corona crisis, followed by the Covid-19 outbreak, which is expected to continue till the end of this year. According to a Reuters poll, the situation has worsened in the country due to the Corona virus outbreak and a decline in consumption and business activities. Prime Minister Modi's government has announced an incentive package of Rs 20 lakh crore to improve the economic situation, which has worsened due to the Koro crisis. The Reserve Bank of India has cut interest rates by 1.15 per cent, or 115 basis points, since March. It is clear that the government still has a long way to go to save the country's economy from the effects of the global epidemic. India is currently experiencing a faster transition than any other country in the world, with more than 3.3 million corona positive patients registered in the country so far. More than 60,000 of them have died, millions ar...

(Gujarat News Correspondent) Mumbai, Ta. 27 August 2020, Thursday The August trend in derivatives ended bullish today. Foreign fund stocks continued to take off. Of course at the end of the August trend today some funds, players bounced cautiously some of the bullish trades were milder at the end of the index-based initial rebound. Automile stocks continued to pick on the positive impact of reports that the real estate sector would be given incentives by the government and reports that the two-wheeler segment would be given relief by reducing the GST rate at today's GST Council meeting. Banking-finance stocks maintained fund buying for the fourth day in a row. With the selective buying of funds in healthcare-pharmaceuticals stocks and the attractiveness of oil-gas, consumer durables stocks, the Sensex bounced 3 points in the initial rally, after which the profit booking increased by 2.4 points to close at 3112.8 and the Nifty spot at 1. It had risen to close at 114.5. Sensex jum...

(By commerce representative), Mumbai, Ta. 27 August 2020, Thursday In the Mumbai Oilseeds market today, the prices of various imported edible oils surged behind the world market, while the prices of domestic edible oils remained volatile. According to market sources, about 1,000 to 1,500 tonnes of palm oil was traded at Rs 5 to Rs 20 per 10 kg for September delivery today on increased demand for forward delivery. Palm oil futures in Malaysia traded up 50 points today, while palm product prices were quoted as high as ૫ 2.50 to ૦૦ 2.00. There was talk of increased demand from India and China. Meanwhile, in the Mumbai spot market, the price of 10 kg of palm oil rose from Rs 5 to Rs 5 today, while crude palm oil (CPO) Kandla was quoted from Rs 20 to Rs 3. Meanwhile, CPO futures were quoted at Rs 6 and soyoil futures at Rs 4.50 this evening. In the Mumbai market, soyoil digam was priced at Rs 3, while refined was quoted at Rs 3, while sunflower was up at Rs 3 and refined at Rs 4. Meanwh...

Mumbai, Ta. 27 August 2020, Thursday Top officials of some of the country's public sector banks tried to dispel the impression that banks were avoiding risk-taking. There have been frequent statements by the Reserve Bank and the government that banks have been reluctant to lend. Even in the Covid-19 era, banks have been willing to lend to strong industries, a top official of some banks said at an event. We expect to see good economic indicators in the third quarter of the current financial year. Recovery is being seen in some sectors like automobiles and cement. Lending is not being avoided but a pragmatic approach is being taken. Demand in the financial system should also be looked at. Loan approvals have increased but utilization has declined, Union Bank CEO Rajkiran Rai said in a panel discussion. Banks are flexible in adopting a conservative approach to development, another bank official said while participating in the discussion. Earlier in the day, Reserve Bank of India...

Ahmedabad. 27 August 2020, Thursday The smallcap index has also seen a significant rise as the attractiveness of penny stocks has rebounded during the recent uptick in the stock market on the back of local as well as global factors. According to market insiders, the recent uptick in the stock market has seen an unimaginable rise in such stocks as small investors are turning to penny stocks again. Companies that have not sold a single rupee during the current period and have plunged into a loss-making situation, have seen their stocks soar by up to 200 per cent on the back of new entrants. According to available data, shares of Transglobe Food Company have soared by 200 per cent this year. In addition, shares of Shree Prikoted Steel Company have risen by more than 1,200 per cent. Both these companies are mired in losses. These are just two examples of companies. Shares of many such small companies have risen this year. The rise was mainly due to the active role of small investors,...

New delhi date. 27 August 2020, Thursday The need for demand-based insurance plans has increased significantly in the wake of the Koro epidemic, which has resulted in more than 1.5 million people getting insurance cover through various insurance policies associated with the epidemic, said IRDA. IRDA chairman Subhash Khuntia further said that insurance companies should stay with the policyholders and help them in times of trouble. He called on the insurance companies to come up with schemes like Corona shields as well as Corona protectors as the demand for health insurance is increasing due to Corona in recent times. Due to the epidemic, the demand for policies that cover the cost of corona in particular has increased and insurance companies have introduced insurance policies that fix a certain amount, which is a welcome thing. In less than a month, consumers have bought more than 1.5 million such policies because of the fixed amount, which demonstrates the confidence of consumers i...

Mumbai, Ta. 27 August 2020, Thursday Challenges facing the country's automakers are mounting as the means of selling declines in times of recession. Auto companies rely on dealers to sell their products, but more than 200 dealers in the country have been permanently locked up in the last financial year. Auto manufacturers are providing various facilities to sustain the dealers who are left behind. Offers such as high-margin, long-term direct loans are being made to dealers by companies to help them cope with the coronavirus crisis. In addition to the recession of the last two years, the economic impact of the coronavirus has had a serious impact on vehicle sales in the country. Vehicle sales were zero due to the lockdown in April of the current financial year. The financial year 2020 was one of the worst years ever for the auto industry. Auto sales were down 19 per cent to 2.15 crore vehicles in FY18. Dealers were forced to shut down as vehicle sales declined. Companies are s...

(By commercial representative) Ahmedabad, Mumbai, Ta. 27 August 2020, Thursday The backyard of the world market saw a huge uproar in silver. Precious metals in the world market were rising again from low heading. The precious metal has seen a resurgence in fears of renewed tensions with the US over the launch of two missiles by China into the South China Sea. The rupee strengthened against major global currencies at home. Crude oil has a softening atmosphere again. Behind the world market, silver rose by Rs 4,000 to Rs 2,000 per kg in the Ahmedabad market today. Gold, however, declined by Rs 200 to Rs 200 per ten grams at Rs 2.50 and Rs 600 to Rs 3.50 per ten grams. At home, silver in the Mumbai market rose by Rs 205 per kg, excluding GST, to Rs 3 and finally closed at Rs 4. Prices with GST were quoted three per cent higher. The price of ten grams of gold excluding GST at Rs 2.50 was Rs 31,601 and closed at Rs 21,018. 3.50 gold ten gram excluding GST price of Rs 31110 to Rs 315 to ...

New Delhi, Employment business has been adversely affected after the implementation of the lockdown in the harsh Corona period. Negative GDP growth in particular is under discussion. However, not only India but many countries of the world are disturbed by the outbreak of Kora epidemic. In the process of protecting people from the Corona virus, jobs have been wiped out. So now the worry of negative growth is starting to bother me. GDP is the gross domestic product which fluctuates according to the circumstances but has proved to be very detrimental to Corona. In India, the government started opening lockdowns gradually after June, but business is still not on track. Cases of coronavirus infection continue to rise even after lockdown. Under these circumstances, the RBI has warned that GDP growth will remain negative, so experts believe that the Koro crisis is likely to reduce India's GDP from 5 per cent to 15 per cent. Even if the situation in Corona remains under control, a redu...

New Delhi, Thursday 27 August 2020 The 41st meeting of the GST Council was held today in which a number of important discussions took place. The meeting was chaired by Finance Minister Nirmala Sitharaman herself. Corona has led to a sharp decline in the earnings of the Center and the states. The Center says that the state should get money from the market, while the states say that the Center should do the work. GST collection is expected to decline by Rs 2.35 lakh crore in the current financial year (2020-21). In fact, the requirement is Rs 3 lakh crore. But the revenue from cess is likely to be Rs 65,000 crore, so the amount is Rs 2.35 crore, of which only Rs 9,700 crore is due to GST implementation, and the reason for the decline is epidemic. States are given 2 options to reimburse the payment amount. Whether the Center itself compensates the states or borrows from the RBI, the state will give its opinion within 7 days. The first of the two options offered for repayment is tha...

New delhi date. 27 August 2020, Thursday The 41st meeting of the GST Council was held on Thursday. Finance Minister Nirmala Sitharaman said that GST collection has come down due to Corona. In the financial year 2021, GST collection could be reduced by Rs 2.35 lakh crore. He called Corona an act of God. It was hoped that a major decision could be reached at this meeting but no major decision was reached at the meeting. A decision was likely to be taken to reduce the tax on two-wheelers, but the finance minister said there was no timeline for tax cuts on two-wheelers. It may now be considered at the next meeting of the council. The next meeting of the GST Council will be held in September. Compensation being offered in the states was discussed. The finance minister said the states were given two options of compensation. In which the first option is to borrow from the Center and the second option is taken by the state itself from the RBI, the states asked for a week to consider these ...

(Gujarat News Correspondent) Mumbai, Ta. Wednesday, August 26, 2020 After a cautious start to trading in Indian stock markets today with narrow fluctuations in global markets today, the funds showed long-term narrow fluctuations. Again, funds led the aggressive rise in banking-finance stocks and valued in automobile, IT-software services stocks. Was. Although the threat of Corona epidemic still lingers around the world, India, along with many other countries in the world, continues to unlock massive industrial and economic activity and the positive impact of government, Reserve Bank of India incentives is expected to accelerate economic recovery and monsoon across the country has been very successful this year. Expectations of accelerating growth in rural areas through higher growth in agriculture led to renewed aggression in fund stocks. Today, the Sensex rose by 20.05 points to 304.5 and the Nifty spot closed at 119 points, with banking and finance stocks continuing to pick up fund...