Market and Business News

- Chart Hint: Ashok Trivedi The BSE Index (Closed 7.5 on 7-08-2) is in favor of a reactionary correction from the bottom of 7.31. At present, the average for 15 days is 6.5 and for 8 days it is 4.5 and for 200 days it is 304.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Overboats on a daily basis show neutral positions on a weekly basis as well as neutral positions from an overboat on a monthly basis. Possibility of up to 20, 2, 30 above. The bottom 20, 2030 counts as support. If the market opens with a big gap, make a profit in a boom but don't take anything new. If it opens below the big gap, build a profit in a recession but don't sell new ones. Now the new loan requires caution. Cummins India (closing price of Rs. At present, the average for 15 days is 1013.5 and for 10 days it is 105.05 and for 200 days it is 8.3. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows positions towards overboat on daily basis, neutral on weekly basis

- Antenna: Vivek Mehta - Small and Medium Enterprises Consumption Urea Prices Rise by 150% Small and medium enterprises in Gujarat are facing the problem of rising raw material prices and increasing burden of capital. The price of H-acid per kg is Rs. Around 70. Naphthalene is used as the raw material for this. Its price per kg has gone up by 30 to 40 per cent. Imported sulfur has to be used to make sulfuric acid. The price of sulfuric acid per kg has gone up by Rs. It is only around 12. On the other hand, coal prices have gone up by 150 per cent. Coal available at Rs 5,000 per tonne today is Rs. More than 15,000 has been spent. The price of gas used in industrial units has also gone up by 30 per cent. Torrent Power's electricity rates are going up. About 80% of the cost of caustic soda makers comes from electricity. But this extra burden cannot be passed on to their finished product. So their majans are being cut. Dimple Patel, president of the Vatva Industries Association, say

The continued depreciation of the rupee against the dollar has added to the woes of consumer durables companies, which have no option but to raise prices again. The industry is actually grappling with a variety of problems simultaneously. Higher commodity prices, lockdown imposed due to covid in China and devaluation of rupee will further push up the prices of imported goods. In addition, interest rates are rising and the cost of working capital for companies is rising, leading to rising consumer EMIs (monthly installments), which are repaid by consumers taking loans to buy goods. As a result, consumer durables companies may have to raise the price of electronic items by 3 to 4 per cent in the current month and are likely to raise prices again in the next quarter to meet rising costs. The industry has raised prices about five to six times since 2021. There is nothing that can be done about the depreciation of the rupee against the dollar except the rise in prices. The government'

Investment advisors will not be able to provide advice in a way that benefits clients and customers. According to the new SEBI directive, investment advisers will not be able to recover the commission by recommending a commission-based fixed deposit (FD). SEBI has limited the scope of securities or investment products for investment advisors. As such, investment advisors will no longer be able to offer their advice to customers on all tools. SEBI said in the new guidelines that a registered investment adviser will not be able to charge a commission for recommending a fixed deposit to its customers. In fact, Guardian Capital Investments had sought guidelines from the market regulator on various advisory aspects. SEBI has announced these rules in its investigation. However, the lawyer of a private law firm said that the guidelines of SEBI will affect the ability of individuals working as consultants to advise their clients.

MUMBAI: The Securities and Exchange Board of India (SEBI), the capital market regulator, has tightened the cyber security framework for mutual funds. To this end, mutual funds have decided to require Periodic Vulnerability Assessment and Penetration Testing (VAPT) by an external agency to submit its report within a month. All incidents of cyber attacks, intimidation and breaches of mutual funds will have to be reported to SEBI within six hours of the incident. Mutual Funds and Asset Management Companies (AMCs) are required to conduct VAPT once in a financial year and for these systems which are identified as protected by National Critical Information Infrastructure Protection Center under IT Act, VAPT should be conducted at least once in each financial year. SEBI has stated in a circular that there will be. This circular will be implemented from 15th July. Quarterly reports containing information on cyber attacks, fears, cyber incidents and breaches that the mutual funds have experi

MUMBAI: With the number of employed persons in India increasing by one million in May, the total number of employed persons rose to 30.50 crore. According to the Center for Monitoring Indian Economy, the jobless rate, which stood at 7.5 per cent in April, fell to 6.15 per cent in May due to rising employment. In April, there was an increase of seven lakh in employment. For the second month in a row in May, the employment rate, which was 8.08 per cent in April, rose to 8.05 per cent in May. Growth in employment indicates stability at large and indicates a positive state of employees at the sectoral level, the Center said in its weekly Labor Market Analysis. The last two months have seen a huge shift in employment from agriculture to industry, the Centre's report said. Agricultural employment declined by 52 lakh in April and 2 lakh in May. In April and May together, there was a total decline of 1.5 crore in agricultural employment. Against this, in the last two months, 1.5 crore

MUMBAI: Most of the six Indian companies under its rating are safe against the weak rupee, Moody's said on Thursday. Even if the rupee depreciates by another 10 to 15 per cent, these companies have enough buffer to withstand it. Fifty per cent of the six Indian-listed companies under their ratings are already hedging against the rupee's weakness. The other four companies are able to repay debts in the form of foreign currency due to their global performance. These companies have cash flows in foreign currencies, according to a report by Moody's. The rest of the companies either use financial hedges to meet their debt expenses in US dollars or have low debt ratio in dollars. This helps in limiting the pressure on the cash flow. The rupee has depreciated by 2.50% against the dollar since the beginning of the year. Cash outflows from the country have increased due to higher commodity prices and pressure on the rupee, the agency said.

MUMBAI: In the wake of the epidemic, people have cut spending due to fears of rising prices and its direct effect has been to reduce sales of fast moving consumer goods in May. According to a private data analysis, sales of commodities ranging from edible oils and packaged wheat flour to personal care and confectionery items declined by 12.5% ​​month-on-month in May. The number of grocery stores or outlets has dropped by 2.5 per cent on a monthly basis, according to figures from a platform that monitors sales in 3 lakh retail stores. Meanwhile, monthly sales of such stores declined by 12.5 per cent in May compared to the previous month. Thus, the number of current groceries has increased by 4.5 per cent on a monthly basis and sales by 4 per cent. However, this figure of growth in May 2021 appears to be the result of the base effect of the second wave of Corona epidemics. In May, sales of beverages items declined by 1.1 per cent month-on-month, commodities products by 31.4 per cent

MUMBAI: Silver prices rose sharply in the Mumbai jewelery market today while gold prices remained soft. There was talk of rising selling of funds in global gold as the Bold Yields and the Dollar Index rose in the global market. Meanwhile, rising crude oil prices in the world market pushed the price to a 12-month high, surpassing ૨૪ 15 a barrel. In the Mumbai currency market, there were indications that the rupee was trading at Rs 7.5 after the dollar rose to Rs 3.5 at one point today. The rupee weakened in the currency market on rising crude. However, the rise in the dollar has seen government banks sell off. Gold prices in the world market were trading at થી 150 to ૮૫ 151 an ounce today. Global silver prices hovered between ૦૧ 61.2 and ૯૩ 71.8 at ૦૧ 8.01. According to market analysts, the current daily production of crude oil is falling by about 3 lakh barrels compared to the target set by the OPEC producing countries. New York's main contract, light sweet crude for delivery i

MUMBAI: Prices of various domestic and imported edible oils declined in the Mumbai Oilseed Market today. News from world markets and manufacturers were showing signs of decline. New demand in the Mumbai market was also slow today. Fear of new government measures as inflation rises was also seen in the market today and its impact on market prices was also seen. In the Mumbai spot market, the price of 10 kg of imported palm oil fell by Rs 15 and crude palm oil CPO Kandla by Rs 1,200. Mumbai Soyoil prices were quoted at Rs 15 for digam and Rs 150 for refined. Cottonseed oil prices also stopped rising and fell again to Rs 150. Peanut oil was down from Rs 150 to Rs 19. Mustard prices also stopped rising and fell again to Rs 150 and refined to Rs 1910. Prices of sunflower were soft at Rs 150 and refined at Rs 150. In Saurashtra, prices fell to Rs 1,415 for cotton washed and Rs 15 for 15 and 15 kg of cingulum oil. Castor futures market witnessed a slowdown today. In the Mumbai market, pal

MUMBAI: After the Reserve Bank of India (RBI) raised the repo rate and made credit more expensive, Indian stock markets today witnessed a two-way uncertain move, with rising crude oil prices having a negative impact on funds. The surface was crossed and the Nifty was brought to the surface of 1600. The market recovered sharply in the last hour after the initial shock in the Sensex and Nifty on the back of rising crude oil prices to બ્રે 15 a barrel and rising credit. Oil-gas, pharma, IT stocks rise International crude oil prices Saudi Arabia's price hike has strengthened global markets rather than new contracts, with Russia saying it will not supply more crude oil for cheaper supply. As a result of rising inflation and the government's increase in the minimum support price (MSP) for agricultural commodities to farmers, a clear sign of rising food inflation was initially seen to have a negative impact. But after a rally in pharma stocks, including Dr. Reddy's Lab., Sun Ph

New Delhi, June 10, 2022, Friday While farmers in states like Kerala, UP and Bihar, Himachal Pradesh and Karnataka are getting good prices for onions, Maharashtra, which produces 40 per cent of the total onions in the country, is in dire straits. In Aurangabad, Maharashtra, at one stage the price of onion was 75 paise per kg. Even in Nashik district, the low prices available to farmers are a matter of concern. Bharat Didhole, president of the Maharashtra Onion Growers' Association, says trains should be run from Maharashtra to Kerala and Karnataka for onions. So that the farmers get at least the money they spent on onion cultivation. Farmers have to spend Rs 15 to 18 per kg to grow onions and at present they are getting Rs 1 to 4 per kg. Therefore, arrangements should be made to send these onions to the states where good prices of onions can be obtained. He says that if the Maharashtra government cannot provide good prices for onions, then they should help in setting up onion

Mumbai, Dt. 10 June 2022, Friday IIFL Home Finance Limited has secured a 20% stake in Abu Dhabi Investment Authority (ADIA) for a 20% stake. 2200 crore. The deal is subject to regulatory approvals. IIFL Home Finance by March 31, 2022 With an asset under management of Rs 23,617 crore, it is one of the largest affordable housing companies in India. This foreign investment will be one of the largest equity investments in India's Affordable Housing Finance segment. Established in 2006, IIFL Home Finance has an active customer base of 168,000 in 16 States and 2 Union Territories. The company has an estimated 3200 employees in more than 200 branches. The company offers small-ticket housing loans, property loans and construction finance.

New Delhi, June 10, 2022, Friday The Indian economy, despite a number of setbacks, is moving steadily on the path of growth and with it the recovery in the industrial sector. The industrial sector grew by 7.1 per cent in April, the highest in eight months. According to figures from the Ministry of Statistics and Program Implementation, industrial production rose 2.2 percent in March 2022. The increase in industrial production is attributed to the low-base effect, with IIP growth of 133.5 per cent in April 2021. A look at the industrial production figure Details April -22 March-22 April-21 IIP Growth 7.1% 2.2% 133.5% Mining 7.8% 3.9% 36.5% Manufacturing 6.3% 1.4% 196.0% Electricity 11.8% 6.1% 38.5% Primary goods 10.1% 5.7% 36.9% Capital goods 14.7% 2.0% 1,028.6% Intermediate Goods 7.6% 1.8% 213.0% Consumer due. Goods 8.5% -2.6% 1,778.2% Non-consumer due. Goods 0.3% -4.6% 92.6%

New Delhi, June 10, 2022, Friday The US inflation rate is expected to reach a new four-decade high in May 2022. U.S. urban inflation rose 1 percent last month against a 0.3 percent increase in April. This is the highest inflation rate since 1981. According to a report by the US Bureau of Labor Statistics, the consumer price index rose 8.6 percent in May, compared to 8.3 percent in April. The Fed has raised fears of a sharp rise in interest rates in the near future on the back of higher-than-expected inflation figures. In the US, interest rates are expected to rise by 1 per cent. After a modest decline in April, the gasoline index rose 4.1 per cent and the energy index rose 3.9 per cent. The food price index, another key component of US inflation, also rose 1.2 percent in May. Except for energy and food, all other indices rose 0.6 per cent in the same month last month. The Energy Index rose 34.6 percent year-on-year, the largest 12-month increase since the period ended in Septembe

Ahmedabad: Wipro's CEO is set to become the highest paid CEO in Indian IT companies, overtaking Salil Parekh after last week's report that the CEO of India's giant Infosys was the highest paid. Wipro CEO Thierry Delaporte is the highest paid employee in Indian IT companies. In the financial year ended March 31, 2022, he was paid Rs. 79.80 crore (.5 10.51 million). Wipro has provided this information in its annual report filed with the US Securities and Exchange Commission. The salary paid to the CEO of Wipro is much higher than that of the CEO of Tata Consultancy Services and Infosys. Theory Delaport was awarded Rs. 64.3 crore were taken along with the salary package. The salary was paid to him for 9 months since Delaport joined the company in July 2020. Delaport has 27 years of experience in the IT sector. Delaport, a native of France, had held several senior positions at Capgemini before joining Wipro. He was the Chief Operating Officer of the company from September 20

MUMBAI: Gold and silver prices fell sharply in the Mumbai jewelery market today. There was news of a world market crash. In the US, where inflation rose to a 20-year high, bond yields rose and the dollar index rose, signaling a widening sell-off of funds in the global gold market. With the global market collapsing, the import cost of precious metals has come down and this has led to a fall in prices in the jewelery markets. Gold prices in the world market ranged from 15 to ઔ 16 an ounce, down from ૮૨૫ 16 to ૮૨૬ 16 to ૮૩૮ 16. Behind gold, the global silver price also rose from ૯૨ 61.9 to ૯૩ 71.8 to ૨૭ 71.50 to ૬ 71.81. At home, the gold price in Ahmedabad Jewelery market today is Rs. 100 fell to Rs. 500 and Rs. 200 remained. While Ahmedabad silver price is Rs. 1000 broken Rs. 2000 were spoken. Silver, platinum and palladium prices have hit the world market again with the resurgence of corona cases in China. Platinum was trading at થઇ 50 to ૯૬૮ 6 an ounce, and palladium was trading a

Mumbai: Not only wheat prices but also rice prices are rising globally. Rice prices have been rising for five consecutive months since the Russia-Ukraine war, according to the Food and Agriculture Organization of the United Nations (FAO). The FAO's latest price index has risen 2.50% since April. Rising demand for domestic rice in Asian rice-exporting countries has raised concerns about supply. Concerns over rice are growing in the same way that concerns have been raised since India imposed restrictions on wheat exports. India's rice prices have soared in the export market on strong demand. Prices are rising due to concerns that India will also curb rice exports after wheat. Rice production in India is based on rainfall. Given the good monsoon forecast for the current year, rice production is expected to be good and India will maintain its leading position in global rice trade. Broken boiled rice was quoted at ૩૫૭ 5 to વર્તમાન 8 this week, up from ૩૫૫ 5 to ૩૬ 20 per tonne

MUMBAI: The initial public offerings (IPOs) were given 5 lakh mandates in May, which was the highest mandate for IPOs in 206 through the Unified Payment Interface (UPI), according to figures from the National Payments Corporation of India (NPCI). Out of 3 lakh mandates given, 3 lakh mandates were complied with. In May, Life Insurance Corporation of India (LIC) received about 3 lakh retail applications for a Rs 21,000 crore IPO. This is the first time such a large number of applications have been received for a domestic IPO. Earlier in 2009, 4 lakh applications were received for Reliance Power. In May, eight companies, including LIC, raised a total of Rs 200 crore through IPOs. Which was the second largest amount after the amount raised in November 2021. In November 2012, nine companies, including Paytm, raised a combined Rs 5 crore through public payments. When applying for an IPO, the mandate is formed when the applicant allows the application amount to be blocked in his bank acc

MUMBAI: Gold Exchange Traded Funds (ETFs) have seen positive inflows for the third consecutive month, boosting Gold ETFs' Asset Under Management (AUM) by 10 per cent so far this year. According to Amphi's data, gold ETFs rose by Rs. A new investment of Rs 302 crore has been made, though it was Rs. Much less than the inflow of Rs 1,100 crore. Gold prices fell two per cent in the domestic market last month on the back of a slowdown in global economic growth. The BSE Sensex, the benchmark benchmark of the Indian stock market, has also fallen by 4.5 per cent. Gold is considered to be the safest source of investment in times of economic recession and inflation. Investors have turned to gold as fears of an epidemic and recession have led to a turmoil in the equity market and an overall softening in the price of yellow precious metals. In the first five months of 203, domestic gold prices fell by 4.5 per cent, while the Sensex fell by only 4.5 per cent. During the month of May, th

MUMBAI: The Mumbai oilseeds market witnessed fresh demand today and prices of various domestic and imported edible oils fell sharply. World market news was showing a decline. The price of imported edible oils was seen under pressure in the market as the import cost came down on the back of the global market crash. In the Mumbai spot market, the price of 10 kg of imported palm oil fell to Rs 150 today, while the price of crude palm oil CPO Kandla was Rs. 120 remained. Soyoil prices fall in Mumbai market 120 and refined Rs. 1915. The price of sunflower is Rs. 150 and Rs. 12 were living. While the price of mustard is Rs. 15 and Rs. 1908 were spoken. Cottonseed oil prices fall to Rs. 120 remained. The price of cingulum oil is Rs. The 19-year-old was quiet. Meanwhile, the price of cotton washed at Saurashtra fell to Rs. 1500 while the price of cingulum oil fell to Rs. 1,200 while the price of cingulum oil rose to Rs. 15 to 1500 and Rs. There were instructions to stay 20 to 30. Meanwhil

MUMBAI: With global markets crashing behind the US, global inflation rising sharply ahead of the release of US inflation figures and the resurgence of Corona cases in China, reports of a resumption of lockdowns, including in Shanghai, have raised eyebrows. Crude oil rose above ૨૪ 15 and the rupee hit a record low against the dollar. Banking-finance stocks fell sharply in the market today on the back of a 0.50 per cent hike in home loan rates by HDFC Ltd. With the 10-year bond yield in the US rising to 5.05 per cent, the Indian rupee depreciated to a record low of 6.5 against the US dollar due to mounting pressure on Asian currencies. The Sensex, Nifty, crashed amid speculation of re-hammering of funds in software services and technology stocks and offloading of foreign funds in Reliance Industries. The Sensex was down 1,013.5 points at 206.5 and the Nifty spot was down 2.50 points at 1,201.60. The risk of loan default will increase As central banks around the world raise interest ra

- Stock markets crash and global crude oil rises - Dollar rises to Rs. Fear of rising import cost and inflation of all imported and imported goods in the country. MUMBAI: The rupee hit a new low in the Mumbai currency market today as the dollar rebounded against the rupee, breaking old records and setting new ones. The rupee was seen depreciating in the currency market as the stock market plunged and crude oil rose in world markets. Dollar price Rs. The price of Rs. 2.5 and a record high of Rs. It was closing at 7.5 to 7.5. With the rupee depreciating and the dollar bouncing, there are fears that various items imported into the country will become more expensive. In the US, players and importers were buying dollars amid rising market sentiment. However, the rally also sparked speculation that some exporters and some state-owned banks would sell dollars. Meanwhile, the dollar index rose 0.15 per cent against various major currencies in the global market today, hitting a high of 104.

- Rs. 3974 crore for sale - 1017 Sensex and Nifty 274 points gap at the end of trading AHMEDABAD: With the rupee depreciating against the dollar and rising global oil prices, fears of rising inflation were offset by a sell-off in the Indian stock market. As a result, investors' wealth (BSE market tape) is Rs. More than Rs 2 lakh crore was eroded. Globally, the Russia-Ukraine war has disrupted global economic growth, with fears of a resurgence in oil prices and rising inflation. In addition, next week's federal meeting will see a rise in interest rates, as well as the release of global inflation data. As a result, the rupee fell to a record low of 7.5 today. On the other hand, continued selling by foreign investors dampened sentiment. In addition, the retreat of global markets yesterday (Thursday) was also affected. Following these reports, the Sensex plunged by 1013.6 points to close at 203.5 after trading at a low of 205 at one point on heavy selling pressure after the