Market and Business News

- Industrial guidance - Dhiru Parekh Sweating is a natural process in the body. Sweat is a mixture of water and some other substances produced by the sweat glands of the skin. Sweat removes dirt and heat from the body. Sweating is everyone's problem. They sweat more during summer days. The more sweat in the body, the better it is said to be for health. But many people sweat because of nervousness. The sweat of these people is extremely stinky. In this way sweat is released from the body to cause bad breath. Then it has no smell at all. But after the sweat stays on the body for a while, bacteria starts to form. Finally it stinks. People use spray perfumes to avoid bad smell. Key ingredients for making roll-on perfumes: Roll-on perfumes can be made using aluminum chlorhydrate, propylene glycol, methyl cellulose, methyl paraben, perfumes and water. which can be sent for sale in round ball fitted bottles. Spray-perfumes: For perfume lovers, these products will be very beautiful. T...

9000 crores in the account, the driver was credited Tamil Nadu taxi driver Rajkumar has been charged because of a bank error. Rajkumar was surprised when 9000 crore rupees suddenly appeared in his bank account in Tamil Nadu Mercantile Bank. Rajkumar had transferred Rs 21,000 to a friend's account to ensure that Rs 9,000 crore had actually entered his account. Rajkumar was ecstatic that the transfer was successful, while the bank corrected its mistake and took back the outstanding amount. Now the bank is demanding the balance of 21 thousand rupees. The prince's friend has already used this amount, so the prince is in a bad condition as he makes promises. Mahindra's patriotism, the sitting of a crow and the falling of a branch There is a saying in Gujarati that, the sitting of the paper and the falling of the branch. The same has happened in the case of Mahindra Group and due to a coincidence Anand Mahindra is showered with praise. The thing is that Mahindra & Mahin...

9000 crores in the account, the driver was credited Tamil Nadu taxi driver Rajkumar has been charged because of a bank error. Rajkumar was surprised when 9000 crore rupees suddenly appeared in his bank account in Tamil Nadu Mercantile Bank. Rajkumar had transferred Rs 21,000 to a friend's account to ensure that Rs 9,000 crore had actually entered his account. Rajkumar was ecstatic that the transfer was successful, while the bank corrected its mistake and took back the outstanding amount. Now the bank is demanding the balance of 21 thousand rupees. The prince's friend has already used this amount, so the prince is in a bad condition as he makes promises. Mahindra's patriotism, the sitting of a crow and the falling of a branch There is a saying in Gujarati that, the sitting of the paper and the falling of the branch. The same has happened in the case of Mahindra Group and due to a coincidence Anand Mahindra is showered with praise. The thing is that Mahindra & Mahin...

- The route of Canada has proved to be very useful in entering the North American market - India is said to mean business, but just when there was a good gap in business with Canada, the business environment has collapsed due to the sourness in the diplomatic relations between the two countries... - The Cold War between India and Canada may hit the import-export business between the two countries as well as the startup business. Canada used to be a great source of venture capital India's global image has improved due to the strained relations with NEDA, but India will face a challenge on the issue of business-related startups. Because India's economy is intertwined with startups. There is a discussion going on in business circles on this important issue of startup. Many people are ready to mediate in the Cold War between India and Canada, but no one is pro-Canada when it comes to supporting terrorists in the dispute. not ready India's trade relations with Canada and ...

Mumbai: The volume of remittances by Indians who have gone abroad for work has been at the lowest level in the last four quarters in the June quarter. According to the data released by the Reserve Bank of India (RBI), remittances by Indians who have gone to work abroad in the June quarter of the current year. The figure stood at $14.47 billion, down 1.40 percent from the March quarter and down 0.10 percent from the June quarter last year. The country's current account deficit widened to $9.20 billion in the first quarter of the current financial year from $1.30 billion in the March quarter. However, the deficit figure was as high as 17.90 billion dollars in the June quarter of 2022. The decline in remittances is alarming. Uncertainty at the global level is believed to have had an impact on remittances. Although the rise in crude oil prices may see an increase in remittances, the current account deficit will also widen. Remittances form an important part of India's balance o...

Mumbai: The volume of remittances by Indians who have gone abroad for work has been at the lowest level in the last four quarters in the June quarter. According to the data released by the Reserve Bank of India (RBI), remittances by Indians who have gone to work abroad in the June quarter of the current year. The figure stood at $14.47 billion, down 1.40 percent from the March quarter and down 0.10 percent from the June quarter last year. The country's current account deficit widened to $9.20 billion in the first quarter of the current financial year from $1.30 billion in the March quarter. However, the deficit figure was as high as 17.90 billion dollars in the June quarter of 2022. The decline in remittances is alarming. Uncertainty at the global level is believed to have had an impact on remittances. Although the rise in crude oil prices may see an increase in remittances, the current account deficit will also widen. Remittances form an important part of India's balance o...

Ahmedabad: In August 2023, the growth rate of bank credit in the retail sector has decreased to 18.3 percent. A year ago it had increased by 19.4 percent. It includes loans given on housing, vehicle and credit cards etc. According to Reserve Bank of India data, housing loans accounted for the largest share of retail loans, which registered a year-on-year growth of 13.8 percent in August 2023, down from 16.3 percent growth in August 2022. According to a Reserve Bank statement, the growth rate of loans to small, medium and large enterprises has also declined to 6.1 percent in August 2023, which was 11.4 percent in August 2022. In August 2023, the annual growth of credit to base metals and metal products and textiles increased in large industries compared to the same period last year. Loans to chemicals and chemical industry, food processing and infrastructure have declined. In August 2023, the loan given to the service sector has increased by 20.7 percent year-on-year. A year ago it ...

- Bhoo Bazar : Dilip Shah - Yearly imports increased to 165 lakh tonnes, likely to break all previous records With the festive season in full bloom in the country, seasonal demand has also been seen in various agricultural markets recently. Although every year the prices of edible oils in the country's edible oil markets go up, but this year the situation has been reversed, market insiders said. The edible oil markets in the country recently saw a sharp fall in the prices of various imported edible oils. Crude oil prices in the global market fell after hitting a 10-month high, followed by a rapid universal retreat in palm oil and soybean oil prices in the agricultural markets of Malaysia and the United States. As the world market has declined, the import cost of various edible oils imported domestically has also come down and its impact has been reflected negatively on the market prices locally. According to sources in the Mumbai market, the prices of imported palm oil continued...

- Growing opportunities for MFIs to grow with increased credit uptake Looking at the latest figures, it seems that the condition of the banking sector as well as the Micro Finance Institutions (MFI) sector in the country is improving drastically. As a result of increasing credit demand in the country, the amount of credit disbursed by microfinance institutions is increasing. The amount of loans disbursed by non-banking finance companies operating as MFIs has increased by 45.80 percent year-on-year to Rs 30,398 crore in the June quarter of the current year. The relaxation of norms for microfinance institutions by the Reserve Bank has given them a level playing field to compete with banks. The role of microfinance institutions is becoming important in the credit system of the country. In the last quarter of financial year 2023, loans of Rs 41490 crore were released by micro finance companies. The number of loan holders also increased from 51 lakh in the first quarter of last financial...

Jaya Verma Sinha has been appointed as the first woman Chairperson and CEO of the Railway Board. The appointment of a woman as the chairperson of the Railway Board has been welcomed by corporate circles. Joined the male-dominated Indian Railways traffic in 1988. At that time, the staff of this account had 24-hour duty. During his 35-year career in Railways, he worked in various departments including Information Technology. Finally, when the Odisha (Balasore) railway disaster took place, he made important and useful suggestions regarding railway signals. Participation of antivirus companies Anti-viruses used in computers like Quickheal and SecureWrite etc. are very well known. Cyber ​​security solutions become very important for every user. Such antivirus can protect against cyber attackers. Quick Heal and Seacrite have partnered. Due to which application developers and data engineers will directly benefit. Computer users will especially benefit as more robust defenses can be built a...

- AI likely to increase rather than decrease jobs : However, jobs are more likely to be affected in high-income countries Research by the International Labor Organization on the field of artificial intelligence shows that artificial intelligence is likely to create more jobs than reduce them, although some job losses are inevitable. The organization will soon begin negotiations on international labor standards for better practices in gig and platform work. For the first time in the last 25 years, extreme poverty and extreme wealth have grown rapidly together. Between 2019 and 2020, global inequality rose faster than at any time since World War II. Problems of this scale can be tackled if we work together on multifaceted approaches and policies that support gender equality and social justice. The geographic, technological and environmental changes that are already underway will require concrete and practical support. These include quality education and skills training, effective soci...

Uncertainty over $8 billion deal The strained relationship between India and Canada is also beginning to have an impact on business activities. JSW Group's plan to buy Canada-based Tech Resources' coal plant has been derailed by deteriorating relations between the two countries. The value of this coal plant was fixed at 8 billion dollars. A bank official aware of the deal said the group is in talks with banks in Europe and Japan to raise the funds needed to acquire the company. But the deal doesn't seem likely to go ahead, at least for now, after an escalating diplomatic spat between India and Canada. The acquisition plan may not have been canceled due to the diplomatic row between the two countries, but it has certainly been delayed. JSW was going to invest $2 billion on its own and was working on a plan to raise the rest from its other partners. The deal would require multiple levels of approval from the governments of Canada and India, but now the changed circumstances...

Reports of economic recovery in China, recovery in global markets as inflation eases in Europe Mumbai: Indian stock markets rallied again over the weekend on the back of a recovery in Asian, European markets following a sharp fall in inflation in Europe along with a positive report of a recovery in the Chinese economy in September. After a rout in stocks on Thursday, funds today led heavy buying in Tata group companies Tata Motors, Tata Steel, and healthcare, metal-mining stocks along with frontline-index heavyweights Sun Pharma, NTPC, JSW Steel, and Sensex rallied at 643 at one point. showed a jump of .33 points. Nifty also jumped by 202.70 points. But in the last half hour of the trading session Sensex rose by 320.09 points to 65828.41 and Nifty spot rose by 114.75 points to close at 19638.30 due to profit booking by traders, players and selling in IT stocks. International crude oil prices remained strong with Brent near $96 and New York-Nymex crude at $92.50. Stocks of Tata group...

Reports of economic recovery in China, recovery in global markets as inflation eases in Europe Mumbai: Indian stock markets rallied again over the weekend on the back of a recovery in Asian, European markets following a sharp fall in inflation in Europe along with a positive report of a recovery in the Chinese economy in September. After a rout in stocks on Thursday, funds today led heavy buying in Tata group companies Tata Motors, Tata Steel, and healthcare, metal-mining stocks along with frontline-index heavyweights Sun Pharma, NTPC, JSW Steel, and Sensex rallied at 643 at one point. showed a jump of .33 points. Nifty also jumped by 202.70 points. But in the last half hour of the trading session Sensex rose by 320.09 points to 65828.41 and Nifty spot rose by 114.75 points to close at 19638.30 due to profit booking by traders, players and selling in IT stocks. International crude oil prices remained strong with Brent near $96 and New York-Nymex crude at $92.50. Stocks of Tata group...

RBI Liberalized Remittance Scheme: From October 1, foreign tour packages will become more expensive. Now 20 percent TCS (Tax Collected at Source) has to be paid on tour packages of more than 7 lakhs which was earlier 5 percent. Under RBI's LRS (Liberalized Remittance Scheme), foreign remittances will have to pay 20 per cent TCS from October 1, 2023, up from 5 per cent TCS till now. Earlier, the rule was to come into effect from July 1, 2023, but the government decided to implement it from October 1, giving an extension of three months. Foreign travel will be expensive Those going abroad on tour packages will be hit the hardest by this decision of the government. 20 percent TCS will be levied on tour packages worth more than Rs 7 lakh. Currently, 5 percent TCS is payable on foreign tour packages and there is no minimum limit. However, under the new rule, Rs. 20 percent TCS has to be paid on tour packages worth more than 7 lakhs, while Rs. 5 percent TCS will continue on tour pack...

Ahmedabad: In the middle of 2023, Indian stock market has seen a great recovery. It has been a month full of ups and downs after the bullish cycle that started at the end of March dragged on till mid-July. While retail investors are now the biggest contributors to the market boom, on the other hand, a shocking figure has emerged that promoter sales in Indian listed companies have reached a 6-year high. In NSE-500 companies, promoters have sold shares worth around Rs 87,000 crore. According to a Kotak Institutional Equities report released on September 28, not only promoters but also private equity or venture capitalist investors have sold a large number of shares this year compared to last year. Heavy selling was witnessed by promoters in the automobile and components, capital goods, electric utilities, IT services and transportation sectors. Insurance and IT services companies had the highest sales. As far as individual shares are concerned, promoters of Adani Group have sold the m...

Mumbai: Even if the dollar strengthens globally, it has been estimated that the rupee will not fall below 84 against the dollar. Reserve Bank of India (RBI) will intervene to sustain the rupee, according to Standard Chartered Bank. The RBI intervenes immediately to prevent the rupee from falling sharply, Parul Mittal Sinha, head of money markets in India at Standard Chartered Bank, said in a TV interview. RBI has been giving appropriate policy to prevent volatility in rupee. The RBI will maintain tight liquidity to support the rupee, unless there is a major shock from global markets or a steep rise in crude oil prices. The unexpected rise in the dollar is causing disruptions around the world and crude oil's move towards $100 has become a double whammy for its importing countries. Due to this, the central banks of the world have become active in protecting their currencies. When the flow changes and the dollar weakens, the Reserve Bank will start depositing dollars again and wi...

AHMEDABAD, MUMBAI: The direct impact of gold prices was seen in the local markets after the negative reports in the global markets. Gold prices fell further in Ahmedabad and Mumbai jewelery market today. While the prices of silver rose rapidly after the shock. In the Ahmedabad market, gold prices fell to Rs. 59800 from 99.50 and Rs. 6000 from 99.90. While Ahmedabad silver price was Rs.72500 per kg. Meanwhile, the monthly drop in gold prices in the world market in September was the biggest monthly price drop in the last 7 months, market sources said. Gold prices fell further in the world market. While there were indications that the prices of silver, platinum, palladium and copper have increased. In China, there were signs that the economy was coming out of recession. Meanwhile, gold prices in the world market ranged from 1875 to 1876 lows from 1862 to 1863 to 1870 to 1871 dollars per ounce. Selling of funds in global gold continued. Meanwhile, gold prices continued to fall behind the...

- Sales Tax - Soham Mashruwala Under the GST law, the government imposes a very coercive provision on the supplier. Recently, the supplier whose turnover will be more than 100 crores cannot issue e-invoice after thirty days from the date of the supplier's bill. If a person has made a mistake, nothing can be done after thirty days. Similarly, the time limit of section 16(4) for claiming tax credit is also given to the tax payer. Ordinarily such a provision would be considered unconstitutional. But by the Andhra Pradesh High Court in Thirumlakonda Plywoods Vs. Assistant Commissioner State Tax WPNo. In the case of 24235 of 2022 dt. This provision has been declared legal on 18-7-2023. This matter is discussed in today's article. The facts of the case Late filing of GSTR 3B dated March, 2020 by the applicant. Late filing of form Rs. 10000/- lay fee was also paid. GSTR3B filed after the time given u/s 16(4) Form dated March, 2020 Accepted belated form by Govt but invalidated tax ...

- Boolean Bits - Dinesh Parekh - It is likely that the progress of the monsoon will prove to be decisive amid the focus on the demand of rural and farmers ahead of the festivals. In the jewelery markets of the country, the prices of gold and silver recently fluctuated amid the festive season. Gold and silver prices in the domestic jewelery markets were recently seen moving between the price of the dollar against the rupee in the domestic currency market and the unilateral fluctuations in the prices of precious metals in the global market. Recently, after Rakshabandhan and Janmashtami, the festivals of Shri Ganapati Dada have started in the country and the season of Navratri, Dussehra- Diwali will continue till Christmas, market experts were showing the possibility of maintaining seasonal demand in jewelery markets. Sources of the market are showing the possibility that the demand for Lagnasara will also increase in the market. However, after the rains in the country decreased signif...

- India is also above average in terms of investment rate, though below the high of 36-37 percent achieved in the 2000s. During the boom period of the 2000s, India's growth was driven by private sector investment. Globally, gross fixed capital formation has averaged between 23 and 27 percent over the past five decades. Countries that have performed strongly in the growth sector, such as China, have consistently been above this average. China achieved 45 percent gross fixed capital formation in 2013. Even today it is more than 40 percent. India has also been above average in terms of investment rate. Today it is between 29 and 30 percent, although it is down from the highs of 36-37 percent achieved in the 2000s. This decline is usually because private investment has declined and therefore restoring the rate of private investment in the economy should be a policy priority. However, it seems that efforts in this direction, including improving banks' balance sheets and improvin...

- Antenna - Vivek Mehta - The system for obtaining property history has been made online In Ahmedabad, the area for Shant Dhara approval has been increased significantly. As a result, the loss of the property owners has increased. 100% of Poldi properties in Ahmedabad are eligible for clearance under the Ashant Act. However, the government's decision in this regard is having an impact on property deals across Gujarat, as the areas for approval of the Ashant Dhara continue to increase. In fact, a provision has been made to take the permission of Ashant Dhara while deeding the property, renting the property, documenting, transferring the property in the name of the children after the death of the property owner even when one of the children loses his right. Law experts say that this amendment has been implemented without getting approved in the assembly. A transaction takes place when someone sells a property. It determines the time frame for financial transactions. It is known a...

- Chart Indication - Ashok Trivedi BSE index (close 6609.15 on 22-09-23) is soft from a top of 67927.23. Currently, the 12 day average is 66753.06, the 48 day average is 65795.40 and the 200 day average is 62835.39. Daily and weekly MACD are bullish. Shows oversold position on daily basis, overbought position on weekly as well as monthly basis. Above 66700 do not stay in recession. 66700 to 66930, 67130, 67330, 67550 possible. 67927 Kudave then 68170, 6835068530 possibility. 65952 down to 65720, 65520, 65324, 65120, 64920 possible. The week of monthly expiry is to handle. Cipla (closing price Rs.1185.90 on 22-09-23) is bearish from a top of 1277.90. Currently, the 12-day average is 1233.61, the 48-day average is 1186.05, and the 200-day average is 1062.76. Daily MACD is bearish. The weekly MACD is bullish. Oversold on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. Above 1220 above 1231 resistance level is considered. 1168 down to 1140, 1...

Ahmedabad: The Indian startup ecosystem has faced many challenges in the difficult period of inflation after the corona epidemic. Along with rising interest rates, several issues put brakes on the startup's defined plans and growth, which has hit their valuations. Investors are making new investments by re-valuing for new funds and checking all aspects. According to market intelligence platform Traxen's latest Geo Quarterly Report India Tech 3, 2023, the third quarter of July-September, 2023 saw a significant drop in fundraising. Only $1.5 billion was raised last quarter, a 29 percent drop from the previous quarter and a staggering 54 percent drop from the same period last year. Late-stage rounds saw a 33 percent decline compared to the same quarter last year, while early-stage and second-stage funding fell 74 percent and 75 percent, respectively. Apart from this, two unicorns - Zepto and Xyber 365 were also created in the July-September quarter. However, it shows a decrease...

NEW DELHI: India's agricultural exports have been adversely affected by sluggish global demand coupled with the government's ban on grain exports to improve domestic supply. During the April-July period of the financial year, there was a year-on-year decline of 12.47% to $8.39 billion. Shipments of agricultural items and processed food, which were resilient in the last few fiscal years, have seen exports of grains fall by 22 percent in the first four months of current FY24. This situation is due to the ban on export of white rice, shipment duty on rice and ban on export of wheat since May last year. Since the ban on wheat shipments was imposed on May 17, 2022, exports are allowed only on a government-to-government basis. In the current financial year, only 0.3 million tonnes of wheat shipment has been approved for Nepal in July. According to the Directorate General of Commercial Intelligence and Statistics, Basmati rice exports increased by 13.19% to $1.7 billion in the fir...

Ahmedabad: India's current account deficit widened to $9.2 billion in the April-June first quarter of the financial year 2023-24, seven times more than in the previous quarter. According to the data released by the Reserve Bank of India on September 28, the current account deficit was 1.1 percent of GDP in April-June. RBI said the CAD rose on a quarter-on-quarter basis mainly due to higher trade deficit, lower surplus in services and decline in private transfer receipts. The current account deficit stood at $1.3 billion or 0.2 percent of GDP in January-March 2023. It was $17.9 billion or 2.1 percent of GDP in April-June 2022. India's services trade surplus increased to $35.1 billion in April-June 2023. Which is less than the surplus of $31.1 billion a year ago and $39.1 billion recorded in January-March 2023. Similarly, the merchandise trade deficit improved to $56.6 billion year-on-year. It was 63.1 billion dollars in April-June 2022. However, this figure is higher than the...