Market and Business News

Mumbai: Mills in the country have exported the entire sugar under the export quota released for the current year, industry sources said. The government has allowed a total of 61 lakh tonnes of sugar to be exported in the current sugar year ending on September 30. Currently high sugar prices in the world market have benefited the country's exporters. Sources in the Indian Sugar Mills Association (ISMA) said exporters will not be allowed to export more sugar in the current year keeping in view the low production of sugar at home. Considering the limited exports from India, the price of sugar at the global level is likely to rise further. Sugar mills are getting more than Rs 50,000 per tonne of sugar in the export market compared to around Rs 37,000 per tonne at home. A record 1.10 crore tonnes of sugar was exported from the country in the sugar season of 2021-22. The country's sugar production is expected to fall to 3.28 crore tonnes in the current season against 3.58 crore ...

Mumbai: Due to lack of clearance, small and big retailers have almost stopped accepting Rs 2000 notes. It is known that storekeepers are accepting notes of Rs 2000 only if the buyer makes a purchase of around Rs 2000. After the announcement of withdrawal of Rs 2000 notes, the demand for Rs 500, Rs 200 or Rs 100 notes has increased. "We used to accept Rs 2,000 notes in the beginning, but now we also have a shortage of Rs 500 or Rs 200 notes," said a manager of a departmental store. If a customer purchases around Rs 2000, we accept Rs 2000 notes from him. In case of excessive loose returns we have to refuse the customer, he added. Customers who used to pay through cards or UPI are now choosing to give Rs 2,000 notes, due to which cash payments have increased, said a hotel owner. Small shopkeepers have even stopped accepting Rs 2000 notes as they are left with a lot of money. Some customers are giving Rs 2,000 notes after buying Rs 400-500, which is difficult for us to acc...

NEW DELHI: According to Interbrand, a global brand consultancy firm, the overall brand value of Indian companies has increased significantly, from Rs. 83,1005.7 crores (100 billion dollars) has crossed. The spike has increased by 167 percent over the past decade, the company said in its report on India's Top 50 Most Valuable Brands. Tata Consultancy Services (TCS) Rs. 10,9576 crore tops the list with a brand value, which is up 153 percent over the past decade. Reliance Industries Rs. 65,320.8 crore with a brand value of Rs. 65,320.8 crore, which is a 121 percent increase over the past decade. The third position was taken by IT services player Infosys, which saw its brand value grow by 197 percent over the last decade to Rs. 53,323.8 crores. The report states that the top three brands alone account for 46 percent of the total value of the top ten brands. Additionally, the top five brands collectively contribute 40 percent to the overall value of the table. This year marks a hist...

- Despite inflation, global challenges, the growth of Indian economy ran full speed - Consumer purchases increased by 15 percent to Rs. 21.50 lakh crore, accounting for 58 percent of GDP growth - Agriculture, housing, infrastructure, hotels and transport also contributed significantly to the year's GDP Ahmedabad: The economic growth rate (Gross Domestic Product or GDP) for the financial year 2022-23 has been higher than expected at 7.2 percent as consumers continue to buy in the country despite the burden of low inflation. After the economic growth was 4.5 percent in the third quarter of the year i.e. October to December, the growth rate in the fourth quarter of January to March was 6.1 percent. The impact of higher growth rates in agriculture (four per cent), financial services (7.1 per cent), trade, hotels and transport (14 per cent) for the entire year has also been seen in India's economy, which is the fastest growing in the world. The per capita income has increased by...

- Per capita income will be $5,200 by 2032 - Under Modi's leadership, India has gained a place in the world order: becoming a 'key driver' in Asian and global development New York: Morgan Stanley, an organization that evaluates the economy of all the important countries of the world and gives conclusions about the development of the above countries, said that the countries that have doubts about India, do not focus on the development achieved by India after 2014. The development achieved by India in just ten years under the leadership of Prime Minister Modi has transformed it and has taken its place in the global system. India is becoming a key driver in Asian and global growth. In this report prepared on India, dismissing the confusion about India, it has been said that many do not give a target to the changes that have taken place in India after 2014. In fact, India's economy has been the second fastest growing economy in the world. For the last 25 years, its sto...

MUMBAI: Increasing the debt limit in the United States may have become inevitable, despite expectations that the bill will be passed in the last minute before voting today on the bill to increase the limit, but there is still uncertainty and a weak manufacturing PMI reading from China's expectations as a result of which the global manufacturing PMI reading fell to 48.8 from a weaker than expected 49.2 in May. The markets were cautious. Along with the global markets, the Indian stock market also broke a four-day bullish run by profitable selling of local funds against sustained heavy buying of foreign funds ahead of the release of March quarter GDP growth figures. Global industrial, sluggish economic growth and on the other hand, speculations of further cuts in production ahead of the meeting of OPEC countries on June 4, international crude oil prices also fell. Brent crude remained close to $73.50 within $74 and New York-Nymex crude remained close to $69.30 within $70. Sensex fell...

MUMBAI: Ahead of a vote on a proposal to raise the debt ceiling in the US, gold and silver were flat in the global market while the dollar strengthened to a two-month high. Crude oil fell sharply and fell below $70 on weak manufacturing data in China. Behind the world market, there was a price-fixed atmosphere in gold and silver at home. At home in the Mumbai market, the price of 99.90 ten grams of gold without GST was Rs 60390, while the price of 99.50 ten grams of gold was Rs 60148. With GST, the prices were raised by three percent. The price of silver .999 per kg without GST was Rs 70,988. With GST, the prices were raised by three percent. In the Ahmedabad market, gold 99.90 per ten grams remained stable at Rs 62,300 and 99.50 per ten grams at Rs 62,100. The price of silver 999 per kg was Rs 72000. Gold and silver were flat in global markets ahead of the vote on the US debt ceiling proposal. Silver was quoted at $1959.65 per ounce while silver was priced at $23.29 per ounce. Ano...

Image Envato Dt. 26 May 2023, Friday If you want to start a new business then this story is for you today. People call this business magic business and there is no chance of loss in this business. Actually this business is cultivation of flowers. Ayurvedic and homeopathic medicines are made from this flower. Let us tell you that the farmers of Bundelkhand in Hamirpur district of Uttar Pradesh have made their fortune by cultivating flowers. After starting the cultivation once, the farmers are getting abundant harvest from it. And these flowers are known as Chamomile Flower. And Ayurvedic and homeopathic medicines are made from this flower. That is why there is a huge demand for it in private companies. This type of cultivation is done in barren land Giving some information about this agriculture, let us tell you that this agriculture is done in barren land. A farmer can improve his economic condition by cultivating these flowers. 5 quintals of magic flower can be grown in one acr...

Mumbai: For the past two months, there has been an increase in investment through participatory notes (P-notes) in the country's capital market. Investments through P-Notes increased to Rs 95,911 crore at the end of April, according to Securities and Exchange Board of India (SEBI) data. Due to the strength in the country's economy, foreign investors are attracted to invest in the capital market. After the figure of Rs 96,292 crore seen in November, 2022, the figure of investment through P-Notes has been seen at the end of April. Foreign investors issue P-Notes against their investments to investors investing through foreign institutional investors in the capital market without registering directly in India. However, for this investors have to follow some rules. Foreign investors can invest in Indian equities, debt instruments and hybrid securities through the P-Notes route. Sebi's figures also reveal that the investment figure through P-Notes stood at Rs 95,911 crore at...

Mumbai: In the last financial year, the Indian economy has shown strong resilience and emerged as the fastest growing country among the major economies, but weakness in consumption, weak rural demand and persistent spending pressures in the last six months of financial year 2023 were becoming a matter of concern, according to the Reserve Bank of India (RBI)'s annual report. The report said. A downside risk to the Indian economy lies amid the possibility of increased financial market volatility due to slowing global growth, geopolitical tensions and renewed stress in the global financial system. The report has highlighted the weak private investment in the country amid an environment of uncertainty. Inflationary pressures and the effects of fragmentation on world trade are likely to reduce consumer demand, thereby impacting growth. India's economy slowed down in the last six months of last financial year. Adverse base effects, weak consumer demand due to high inflation, slug...

Mumbai: The Sensex, Nifty based index advanced for the fourth consecutive day on the back of continued heavy buying in stocks by foreign portfolio investors (FPIs) spurred by India's economic growth. With corporate results being encouraging, the biggest positive factor now is the arrival of monsoon on time and expectations of lower inflation in the event of a normal monsoon has seen funds invest in lower stocks. On the international front, the June 6 deadline for raising the US debt ceiling is approaching, despite expectations of a last-minute deal to raise the limit, uncertainty has gripped the US. Global markets were wary of the impending increase in interest rates by the Federal Reserve. The Sensex ended the initial shock by 122.75 points to 62969.13 and the Nifty spot 35.20 points to close at 18,633.85. In small, mid-cap stocks today despite sustained buying attractiveness in select stocks, cash stocks have seen an unexpected bounce over the past two days and a lower circuit o...

The slump in the global edible oil market continued as crude oil prices fell MUMBAI: A general depression continued in the prices of various domestic and imported edible oils in the Mumbai oilseeds market today. Amid falling prices, buyers were adopting a wait-and-see policy. Saurashtra markets were showing a new surge in prices. World market news was also showing further slowdown. In the global market today, palm oil futures in Malaysia were tipped to fall further by 139 to 141 points. There, palm product prices were minus 7.50 to 12.50 dollars. The fall in crude oil prices in the world market today had a negative effect on the global edible oil prices. In the agricultural markets of America today, soybean oil prices were talking 60 points lower than the projection. Meanwhile, at home in Saurashtra, single oil prices were higher at Rs 1,550 and 15 kg at Rs 2,500. The prices of Saurashtra cotton washed fell further today to around Rs.820. In Singdana, the market was eyeing the new a...

MUMBAI: Global gold and silver witnessed significant volatility ahead of the proposal to raise the debt exemption limit in the US before the Congress for approval on Wednesday. Gold rebounded after falling to a two-month low. Some Republicans have expressed concern about voting against the proposal. Precious metal prices were bullish at home as well behind the world market. The dollar firmed on expectations that the US Federal Reserve would raise interest rates. Global crude oil retreated from highs. At home in the Mumbai market, the price of ten grams of 99.90 gold rose to Rs 60,402 without GST. 99.50 per ten grams without GST, the price was Rs 60160. With GST, the prices were raised by three percent. The price of silver .999 per kg without GST was Rs 70861. Ahmedabad 99.90 gold was priced at Rs 62,300 per ten gram while 99.50 gold was priced at Rs 62,100 per ten gram. The price of silver 999 per kg was Rs 71500. Gold saw big swings ahead of a proposal to raise the debt relief li...

New Delhi: Finance Ministry has mutually agreed to provide public sector banks with Rs. 20 lakh to Rs. 1 crore has been directed to make one time settlement (OTS) with loan defaulters. This will help in reducing the burden on the debt recovery authority. A senior Finance Ministry official said that the pendency of such cases in the Debt Recovery Authority is 72-74 percent. This will reduce the burden on the debt recovery authority. This will also help banks recover non-performing assets. The board of the concerned bank will decide whether to recover a lesser amount in these cases dealing with the settlement. Average minimum amount is not fixed for all banks. This year, the Finance Ministry told the Lok Sabha at the beginning of the year that 1,58,000 cases were pending with the Debt Recovery Authority till February 2023. There are many cases pending in DRT. 4.43 lakh crore cases were registered by various banks and financial institutions in the five years before 2022. Out of them, t...

Philpcart has consistently helped small businesses to spread their products across the nation. Flipkart's e-commerce platform is becoming a show case for that. For that he has invested and remained committed. PhilpKart has helped small business entrepreneurs across the country realize their dreams and become self-sufficient through e-commerce. Ankur Tulsian and Mohit Vaghela's e-commerce success story confirms the shift from traditional business practices to e-commerce. This allows for direct contact with customers, and direct insider information on user preferences. Philpcart is a national level marketplace. The platform for that (role) has over the years given countless people the opportunity to increase their income and become self-reliant. Today, 'Philippkart-Samart' provides livelihood to 1.5 lakh people in the country. Also Philpakart's efforts are becoming a strong factor for a better life for the local people. Painting of Surat Sarees: Ankur Tulsian...

Reserve Bank of India Governor Shaktikanta Das held a meeting with the Board of Directors of the banks yesterday. He raised the issue of problems and potential crisis in corporate governance of banks. The RBI Governor said, In the same meeting, the Reserve Bank Governor clearly said that we are aware of the tactics used by banks to hide bad loans and show profits. Bank boards and management should not create such gaps in governance. Responsibility of directors to ascertain NPA of bank Advising the board directors of the banks, the governor said, it is the responsibility of the full-time and non-executive or part-time directors of the bank to ensure that the governance of the bank remains strong. Use of smart accounting methods by banks RBI Governor Shaktikanta Das said that RBI has found that banks are using smart accounting methods to better show their financial performance. A sale and buyback of a loan or debt instrument between two lenders is also used to hide the actual condit...

- Market cap crosses $3.31 lakh crore - Foreign funds poured $5.7 billion into the Indian market in two months following economic reforms in India AHMEDABAD: Since the beginning of May in India, the Sun God has been showering fury. However, at the end of May, there is a sudden change in the weather, now a monsoon atmosphere has been created with cold winds, as well as the bullish wind is blowing in the Indian stock market. The Indian market has once again achieved the crown of the world's fifth largest market, with the stock market booming due to local and global factors. The market has been under current due to foreign investor bias in the last 15 days and the recent bounce in Adani Group and Reliance shares has boosted investor confidence and wealth. The market capitalization of the Indian market has touched 3.31 lakh crore dollars today. France, on the other hand, saw a loss of $100 billion in its market last week. India has again reached the fifth position in the top 10 mar...

- Rupees two thousand notes made the hoarders' work easier - The operation of this note is completed, the defense that consumers-traders do not use it - It is not necessary to provide proof of who is depositing the note, so why would the hoarder be caught? - Opinion - P. Chidambaram Four of the top five bowlers in IPL 2023 were spinners - Rashid Khan, Y. Chahal, Piyush Chawla and Varun Chakraborty. A common man might be surprised by this as he might think that T20 is for batsmen who like to hit spinners. Perhaps like the IPL, the current BJP government and the organizations under its administration are seeing a huge demand for walk doctors. The current trend lies in the team of doctors in the RBI and the economists bowling for the government. On May 19, 2023, the Reserve Bank announced the withdrawal of Rs 2,000 currency notes. Clever doctors claimed that this was not demonetisation. Even in the notification issued in 2016, it was not demonetisation but currency notes were b...

- The Conundrum of Economics - Dhawal Mehta - Now that inflation is under control, the fear of interest rate hike is over Some developments in India's economy are encouraging and some are worrying. E.g. India's economic growth rate of 6.5 percent for the current financial year is encouraging as no rich country in the world (including Japan) can achieve even 6 percent economic growth rate in the next current year. A country with huge prosperity like America will not be able to achieve an economic growth rate of even four percent in 2023, while Japan will consider itself a lucky country even if it achieves a growth rate of three percent. Another good thing for the Indian economy is that India's wholesale market inflation in April 2023 is the lowest in the last three years. The main benefit of this will be especially to the manufacturing sector of India. Not only the wholesale price figure but also the retail market price stood at 4.7 per cent in April 2023 which is below t...

- Some contradictions in the fastest growing Indian economy - There is economic inequality in the country, luxury items are selling less, demand for essential items is decreasing. - On the one hand free grain distribution to 80 crore people against the huge demand for luxury cars, expensive phones and luxury flats. There have been more than one report of increased economic inequality after the coronavirus pandemic. Not only in India but in the world there is a discussion that the rich are getting richer. In Britain there was talk of imposing a wealth tax to control inflation. In America, when the debt limit is being reached, the opposition party is demanding to increase the income of the government by raising taxes on the Republican companies. At the time of the budget, there was a discussion that the wealth tax would be increased in India as well. According to the Oxfam report, one percent of India's population owns 40 percent of the country's wealth, or to put it another...

- At present the increased level of public debt and damage to the environment is a matter of great concern The last four decades have seen dramatic changes in the structure of the Indian economy. In 1980-81, the share of the agricultural sector in India's economy declined from 38 percent to 21 percent, while the share of the service sector increased from 37 percent to 53 percent. The share of industry (including construction) remained more or less unchanged at 26 percent. These figures show that agriculture, the slowest growing sector in the economy, has shrunk more than other sectors, while the fastest growing service sector has peaked. What is the significance of this structural change for the economy as a whole? Assuming no change in sectoral growth rates, the importance of the fast-growing service sector means that economic growth should have picked up. Given the change in the share of these three sectors, the growth rate of 5.5 per cent recorded in the 1980s should rise to a...

- Smile Index - Vanity - Distribute laddoos across the country on the occasion of the inauguration of the Parliament House, the government may say that the opposition settles with Revadi but we distribute laddoos. The presentation of the Ministry of Agriculture began. The production of grain in the country was 310.5 million tons last time, this time it has increased to 315.6 million tons. The production of rice has increased from 129.4 million tons to 135.5 million tons, the production of wheat has increased from 107.7 million tons to 112.7 million tons. Tons have happened. Production of maize and edible oil has also increased. An officer says, 'Lya, the production of figures has not increased?' Another officer says, 'Hey sir, have some faith. We are bureaucrats, not leaders. Can't throw more than one limit. Statistics say that if an elephant has grown as much as a mound, then an ant has grown as much as a particle.' The second officer frowned and said, '...

- Talk of the market - If the brain chip succeeds, the blind will be able to see Elon Musk's company Neuralink is expected to revolutionize medical science after getting approval for human trials of a brain chip. If this trial is successful, with the help of this chip blind people will be able to see and a person suffering from paralysis will be able to operate mobile and computer by moving. Created by the Neuralink team, the Neuralink coin-shaped chip will directly connect a computer, mobile phone or other device to brain activity (neural impulses). Because of this, after implanting a chip in the brain of a paralyzed person, activities can be performed only by thinking. The chip will be inserted into the patient's skull by making a hole of 25 mm diameter, a robot has also been made for it. - Adah Sharma's distaste for Bollywood culture After the success of 'The Kerala Story', actress Ada Sharma became a star. Adah Sharma has also taken a look at Bollywood...

- Lokabhimukha Guidance - H.S. Patel IAS (Retd.) - Section-88 of Maths Act and Section (3) of Ceiling Act required to be followed for cages and other institutions. During the British rule, the British first got the right to levy the Diwani Hakka, i.e. the revenue right on the land of Bengal, Bihar and Orissa province, and it is considered the foundation of the Indian land revenue system and on that basis the Survey & Settlement of the lands was done. Present-day Gujarat was known as Bombay Province under British rule and the Bombay Land Revenue Act 1879 was enacted for land administration and is still in force today. The Land Revenue Act is primarily an ordinance of the Government to levy and regulate land revenue. At one point the most popular permission among the people today is the NA permission under Section-65 for non-cultivation. It is also a system for determining the non-agricultural nature (revenue) and collecting the non-agricultural tax on that basis. It is included i...

A White House study of its staff's experience with AI The White House, the official residence and office of the most powerful man in the world, is going to start studying its employees' use of artificial intelligence, its experience and performance. This study will prepare a study on security, control, supervisory and how AI is being used in every work of the office, whether any risks can arise from it. Based on the study, a decision will be taken whether the employees can use it in future or not. Millions of people around the world are using ChatGPT or Google's Bard or other AI tools. It is being widely used in the White House as well. Branson's successful foray into space travel Virgin Group owner and British billionaire Richard Branson has achieved another success. Another test has been successful in his dreams of making any traveler travel to space, like air travel. His company, Virgin Galactic, successfully landed its supersonic plane in 2021. This time a test ...

- Commodity Current - Jayavadan Gandhi The possibility of a drought in the country this year has raised the possibility of a rise in the prices of food items. Amid speculations of inflation in pulses, oilseeds, spices and grains, the government has undertaken an exercise to increase the buffer stock of grains and pulses. Among grains, especially wheat, which is the most needed, prices have been at high levels for the past few years, supporting support prices. The government has announced the support price of wheat at Rs 2125/- per quintal. While the highest rise in prices is in Maharashtra reaching a high level of Rs 4150. 3000 rupees in Gujarat, 2700 rupees in Madhya Pradesh, 2500 rupees in Rajasthan, higher in the range of 2100 to 2200 rupees in Uttar Pradesh-Haryana-Punjab areas. As government procurement is also currently underway, there is no possibility of a fall in wheat prices. In the last year or so, the price of wheat has increased by six to seven percent and that of flour ...

Around the Market BSNL will hold hands with TCS and move ahead Government-owned telecommunications company Bharat Sanchar Nigam (BSNL) is now in the process of taking over private sector TCS. Recently, BSNL awarded a contract worth crores of rupees to Tata Group's TCS company for its 4G connection. Under this contract, TCS will receive Rs. An advance payment of 1500 crores has also been made. Now TCS will soon start the operation of delivering 4G network across the country for BSNL. A resurgence in the prices of various pulses After the fall in the prices of various pulses last April, the increase in the prices of various pulses after the first week of May by an average of one-and-a-half to two percent has increased the government's concern. In the month of May, the price of tuver dal, urad dal, mung dal and gram dal increased by up to two percent, the government has immediately announced an advisory on its storage. In which measures have been announced against hoarders. A...

- Bhoo Bazar - Dilip Shah - Such demand started from the state of West Bengal and Assam: Instructions for selling tea worth Rs.3300 crore annually in Gauhati tea auction. The tea market and industry sector in the country has recently witnessed a rapid reversal of equations. Although tea is the most widely consumed drink in India, recently there has been a trend towards coffee in big cities and especially among the youth. Meanwhile, indications from the recent tea auction at Coonoor in South India indicated that demand was lower than expected against supply and consequently tea prices in the auction remained under pressure. In the Coonoor auction, tea prices were reported to have dropped by Rs.4 to Rs.5 per kg. In the auction of leaf type of tea, the sale was recorded at 70 to 75 percent of the goods that were auctioned. Such a trend was seen in auction number 20. Meanwhile, the demand of bulk consumers in the tea market decreased when the hotels, restaurants were closed and public c...

Industrial Guidance – Dhiru Parekh Heat, power (solar energy) obtained by direct coupling from the sun's rays is called energy study system. Today in many countries of the world there is a lot of sunlight. But it is not fully utilized. Today European countries have solar technology but there is not enough sunlight. Solar projects are more affordable in our India today. It also has an abundant market of users, consumers. Solar generating systems can provide electricity to thousands of small villages. Which can prove to be very cost effective. The cost of solar energy installments is very high. But running it comes at a cost. Israel is at the forefront of solar energy. But Israel has not accepted in practice. Israel uses only 6 percent of solar power. Yet Israel's entire focus is on the solar side. According to scientists, gas-tribunals are at the forefront of technology. And because of that, solar systems can be much cheaper. United Solar System Corporation has developed ad...