Market and Business News

Massive Aadhaar Data Leak: In today's modern times, personal data is considered more valuable than gold. Meanwhile, a report presented by America is worrying for India. An American cyber security firm has claimed that the personal data of about 81.5 crore Indians has been leaked on the dark web. It is claimed that this data has been leaked for online sharing of data including name, phone number, address, Aadhaar card and passport information. According to the report, a person with a dark web ID posted a thread on the breached firm offering to share the Aadhaar and passport data of 81.5 crore Indians. The report also claimed that Hunter (HUMINT) unit investigators had made contact with the person making the threat. In which the information has come out that the database of Indian Aadhaar card and passport has been sold for 80,000 dollars. Biggest data leak case in India According to sources, the Central Bureau of Investigation (CBI) is currently on the hunt for this hacker. Addit

New Delhi: Fluctuations in crude oil prices and geopolitical tensions are a major cause of concern following the Israel-Hamas war. The heads of Indian companies believe that the Israel-Hamas war will not have a major impact on the sales and operations of the companies in the long run. The war will not affect the operations or investment of the companies and their operations in the country are going well. The geopolitical situation is unstable and fragile. This could pose a problem if Israel's tensions in West Asia deepen, but for now there is no chance of any increase in their spending. This war will affect the prices of crude oil and may increase its price. Oil prices rose 3 percent to a one-week high of $90.48 per barrel. The Israel-Gaza tension has raised fears of an oversupply of crude oil in the global market and pushed up oil prices. According to oil analysts, oil prices could spiral out of control if Iran or Hezbollah went to war, with Brent crude trading between $90 and

New Delhi: To increase the availability of onion in the domestic market and control the price, the government has fixed the minimum export price (MEP) of USD 800 per tonne on its export till December 31. This decision has been implemented. Apart from this, the government has also announced procurement of additional 2 lakh tonnes of onion for buffer stock, which will be in addition to the 5 lakh tonnes already procured. MEP exists for all onion varieties except Bengaluru rose and Krishnapuram onion. The Directorate General of Foreign Trade said in a notification that the MEP for onion exported abroad has now been increased to $800 per tonne till December 31, 2023. This move will help in maintaining adequate availability of onions at affordable prices for domestic consumers as the stocks of onions for Ravi 2023 are depleting. 800 dollars per tonne MEP for onion is about Rs. 67 per kg. So far, about 1.70 lakh tonnes of onions have been disposed of from the buffer stock. Continuous pu

New Delhi: The government has directed to compulsorily convert the shares of all private companies into electronic form by September 30, 2024. The initiative is expected to increase transparency in the financial system and improve monitoring. The Corporate Affairs Ministry has introduced a new clause in the Companies (Prospectus and Allotment of Securities) Regulations in the October 27 amendment regarding issuance of shares by private companies in electronic form. All private companies except small companies shall issue shares in demat form only within the period prescribed under sub-rule 2. It has also been stated that under the provisions of the Depositories Act, 1996, facilities to convert all securities into electronic form have to be provided. If a private company is not a small company as per the audited financial results of the financial year on or after the last day of the financial year i.e. 31st March 2023, it has to comply with the provisions of this rule within the next

Income Tax Return: In the last few years, the number of taxpayers in India has increased, from which it is estimated that the income of the people has also increased. According to the data presented by the Income Tax Department, the number of taxpayers earning Rs 100 crore or more in India has almost doubled. Along with this, the number of ITR filers has also increased. Increase in the number of billionaires According to the Income Tax Department, the number of billionaires earning Rs 100 crore or more in the income tax year 2021-22 has increased to 16 from the previous year. According to a report, the number of people earning Rs 100 crore in FY 2022 has increased by 100 percent compared to FY 2021. Also increase the number of taxpayers About 6.75 crore people filed ITR in FY 2022, with a total income of Rs. 69.6 lakh crores. In this survey there were 589 taxpayers whose income was Rs. 500 crore was declared. If we talk about the total income of these taxpayers, their total income

New Delhi, 30-October-2023, Monday In the Singur-Nano Project Case (Singur Nano Project Case) Tata Motors has won a big victory in the compensation case against the West Bengal Government. Tata Motors Ltd said that a three-member arbitration panel in the Singur-Nano project case has ordered the West Bengal Industrial Development Corporation to pay compensation of Rs 766 crore to the company, including interest. Tata Motors suffered losses in its investment in automobile manufacturing in Singur Tata Motors had invested to start automobile manufacturing in Singur, West Bengal, although the loss-making WBIDC claimed compensation. WBIDC is the main nodal agency of West Bengal Department of Industries, Commerce and Enterprise. The company has given this information in an exchange filing on Monday. According to the information, the three-member arbitral tribunal has given a unanimous decision in favor of Tata Motors and said that the company is entitled to recover Rs 765.8 crore. It also

- In the last one year Tuvar dal became expensive by 38 percent - In the last one year, the price of urad dal has increased by 10 percent, the price of gram dal by 11.66 percent, the price of rice by 13 percent. - 5.39 percent increase in wheat price, 4.45 percent increase in wheat flour price, 3.32 percent increase in sugar price in last one year New Delhi: Even though the retail inflation rate has come down to five percent in September, the rise in the prices of food and beverages is not stopping. Tuvar dal has become expensive by 38 percent in one year. The price of Tuvar dal has crossed 150 rupees per kilo in the retail market. While prices of rice, wheat and flour are also increasing continuously. It is also becoming bitter due to expensive sugar. There is also a festival season while on the other hand assembly elections are going to be held in five states and the next year is the Lok Sabha election in 2024. Earlier, the rise in prices of rice, dal, flour and sugar could spoi

MUMBAI: Indian stock markets rallied behind global markets as the corporate results season picked up an overall upbeat look amid a slump in crude oil prices as the Israel-Hamas war escalated late last week and the risk of the war spreading to other Middle-East countries rose. . Local funds maintained index-based gains after Reliance Industries last week posted an encouraging 29.7 percent rise in net profit in its second-quarter results and overall good results from other companies. Along with this there was attraction in banking-finance, cement, IT frontline stocks. Sensex rose 329.85 points to 64112.65 and Nifty spot rose 93.65 points to close at 19140.90. Crude oil prices Brent fell one dollar to 89.47 dollars and New York-Nymex crude fell 1.11 dollars to close to 84.42 dollars. Reliance Incentive consequently increased by Rs.46 Funds were buying heavily on strong results from Reliance Industries, with international crude oil prices falling. Reliance Industries' quarterly net

Mumbai: Singoil prices continued to recover slowly in the Mumbai oilseeds market today. Cottonseed oil was also raised. Imported edible oils, however, were soft. Malaysia palm oil was down. New demand was slow. US Soya Oil price projections increased by 35 points. In Saurashtra, the price of single oil was Rs.1550 and cotton washed was Rs.865 to 870. In the present market of Mumbai, the price of 10 kg of castor oil increased by Rs.1570 and cotton oil increased by Rs.940. The price of imported palm oil fell to Rs.818. The price of crude palm oil CPO kandla was Rs.780. The prices of Mumbai soybean oil were Rs.865 for digum and Rs.920 for refined, while the prices for sunflower were Rs.855 and Rs.915 for refined. Castor futures prices fell from Rs.64 to Rs.65. Spot castor fell by Rs.40 while spot diwali prices were Rs.8 soft. Meanwhile, palm oil futures in Malaysia fell 50 points in the world market today while palm product prices fell by $5. The revenue of mustard increased two and a

Mumbai: In the Mumbai jewelery market today, the price of gold and silver went down after the global market. The gold prices in the world market, which were going above 2000 dollars per ounce, today there were indications that they have fallen back under 2000 dollars. As the yield of American bonds increased, the selling of funds increased due to the rise in gold in the eyes of the meeting of the Federal Reserve in the world market. Meanwhile, gold prices in the world market today were at a low of 1991 to 1995 to 1996 dollars from 2006 to 2007. At home, the price of gold in Ahmedabad jewelry market was Rs. 400 per 10 grams, the price of 99.50 was Rs. 62,900 and the price of 99.90 was Rs. 63,100. Ahmedabad silver price was Rs.73500 per kg. The price of silver in the world market was 23.11 to 23.12 dollars per ounce at a low of 23.03 and at a high of 23.21 to 23.13 to 23.14 dollars. Platinum prices increased from 907 to 908 per ounce to 923 to 921 to 922 dollars. Palladium prices inc

- The Conundrum of Economics - Dhawal Mehta - 44 percent of the total working population in the country is employed in agriculture The agricultural sector of any country includes grain production, fruit and flower production, fishing, animal husbandry, poultry, forestry, silk and jute production etc. The agricultural sector in India contributes 18 percent to its GDP while 44 percent of the total working population in India is employed in the agricultural sector, which means industry and services (baking, insurance, health, education, transportation, police and military services, tourism, financial services). etc) sectors are vastly higher than the productivity of agricultural sector. Almost all the poor countries of the world and especially sub-Saharan African countries are based on agriculture and animal husbandry. Services in the sense of economics is not the way Gandhiji or Vinoba or pious people do it. All services here are based on financial returns. What will happen if 44 perc

- Increased social and institutional barriers keep women out of the labor market Annual Periodic Labor Force Survey data for July-June 2022-23 released earlier in the week showed that the overall unemployment rate fell to a six-year low of 3.2 percent. Other things being equal, a decrease in the unemployment rate and an increase in the labor force participation rate indicate that jobs are being created in the economy. However certain questions may arise on the quality of employment. The labor force participation rate for those above 15 years of age has increased to 57.9 percent from 49.8 percent in 2017-18 in the latest survey. The figures have also seen an improvement at the current weekly level. There is still a lot to be desired in terms of quality. For example, if we talk about the non-agricultural sectors, the percentage of people working in proprietorship and partnership setups considered unorganized has increased from 71.4 percent in 2020-21 to 74.3 percent in the latest surv

- Smile Index - Vanity - Why does it work when the American yield is cut and our market collapses? The leader of Vishwaguru country should make a decision and the world market should go up by one and a half thousand points Disciple: Guruji, this market has fallen back. Guruji: A good man, as one who is born is certain to die, so one who is exalted is certain to fall. Disciple: Guru Boss, here I am washed without soap and you are peddling philosophies? Guru: O Jataka, the stock market teaches true philosophy. Do not hold on to anything, let go of what is loose, do not mourn loss, do not covet too much gain, digest all the philosophies that if you share the benefits, others will share with you, like a true speculator. Disciple: Gurji, keep your philosophies in your pocket. Birth and death may be certain, but nothing is certain in the stock market. After a good result here, the lower risk may be lower and the participant's scrip may have higher risk. Guru: As a devotee, you sh

Financial markets operate on the assumption that currency prices may remain high in the near future. Last week the 10-year US government bond yield crossed the psychologically important 5 percent level. This happened after 16 years. Due to this, bond and equity markets around the world saw a decline. The current rise in bond yields is attributed to the perception that policy interest rates in the US will remain at high levels for an extended period of time. US Federal Reserve Chairman Jerome Powell and other policymakers have recently publicly asserted that interest rates will be kept high to keep inflation around two percent. However, financial markets expect the Federal Reserve to keep policy rates steady at its meeting next week. However, the market is eyeing the possibility of at least one more rate hike in the current cycle. Looking beyond the Federal Reserve's immediate policy imperatives, the US economy is undergoing structural changes that could keep currency costs high f

Image Twitter Dt. 29 October 2023, Sunday State Bank of India, the country's largest bank, has made Indian cricketer and former captain Mahendra Singh Dhoni its brand ambassador before Diwali. The largest public sector bank today on Sunday announced the appointment of Mahendra Singh Dhoni as its brand ambassador. As the brand ambassador of SBI, MS Dhoni will handle the marketing and ad role. We are pleased to onboard MS Dhoni as Brand Ambassador of SBI. Mr. Dhoni's association with SBI as a satisfied customer makes him a perfect embodiment of our brand's ethos. With this partnership, we aim to reinforce our commitment to serving the nation and our customers with… pic.twitter.com/HlttRFGMr6 — State Bank of India (@TheOfficialSBI) October 28, 2023 Associating Dhoni with SBI will give our brand a new avatar: the chairman SBI Chairman Dinesh Khara said, We are very happy to make MS Dhoni the brand ambassador of SBI. He further said that the association of Dhoni with SBI

- Sales Tax - Soham Mashruwala The controversy over the treatment of corporate guarantees under the GST law has been hotly debated. The matter was discussed in the last Council meeting and in pursuance thereof the Government issued Notification no. 52/2023 Central Tax dated 26-10-2023 has been promulgated and new rule 28 has been added to CGST rule. Recently after the notification the Government issued Circular No. 204/16/2023-GST dated 27-10-2023 which is discussed in today's article. Situation under previous law In case a unit has given a corporate guarantee as per bank provision for taking loan to its sub company/subsidiary company, if no compensation is charged then service tax would not be payable on such transaction. Edelweiss Financial Services Ltd. by the Supreme Court in this regard. In the case of (Diary No. 5258/2023) the judgment has been given as follows. Special emphasis has been laid by the Supreme Court on substitution ie ``Consideration''. Further, the

- Antenna - Vivek Mehta - If the property has been purchased four times and the loan has been taken four times, the money for each mortgage deed has to be paid by the last buyer. The Ghats of Gujarat are similar to Andher Nagri and Ganduraja. Any circulars can be issued at any time. The last example is the Superintendent of Stamps circular. A strange provision has been made in this circular. For the purchase of property from private banks, if the bank has not registered the mortgage at the time of granting the loan and has not paid the stamp duty of Rs. will be charged from From 2008 till now commercial banks have not deposited stamp duty without registration in the loan process. That is why the office of the Superintendent of Stamps of Gujarat has issued this circular. According to the notification given in the circular, if a new person buys any property after 2008 and in the interim four persons have taken loan to buy that property and private banks have not deposited the stamp d

- Chart Indication - Ashok Trivedi BSE index (close 63782.80 on 27-10-23) is soft from a top of 67927.22. Currently, the 12 day average is 6511.50, the 48 day average is 65630.90 and the 200 day average is 63405.27. Daily and weekly MACD are bearish. Daily and weekly shows oversold as well as overbought to neutral position. Above 63914 64440, 64787, 64880 resistance levels are considered. If 63393 falls below 63092, chances are 62840, 62500, 62710, 61900. Keep an eye on war news. Astral (closing price Rs.1826.95 on 27-10-23) is bearish from the top of 1979.65. Currently 12 day average is 1865.34 and 48 day average is 1897.06 and 200 day average is 1764.74. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as overbought to neutral positions on monthly basis. Above 1835 above 1860 resistance level is considered. If 1772 breaks below 1764, then 1724, 1675, 1630, 1587 are possible. ICICI Bank (closing price Rs.912.75 on 27-10-23) is bearish from a top of 962

A total turnover of Rs.4,35,355.6 crore was recorded in 51,01,197 trades during the week of October 20 to 26 in various commodity futures, options and index futures on the country's leading commodity derivatives exchange, with commodity futures accounting for Rs.1, 10,591.05 crores and the share of options was Rs.324558.78 crores. During the week under review, 10,47,966 trades worth Rs 72,487.33 crore were transacted in precious metals futures in gold and silver. Among gold futures, gold December futures opened at Rs.60,401 per 10 grams at the beginning of the week, touched an intra-day high of Rs.61,124 and a low of Rs.60,125 during the week, increased by Rs.634 to Rs.60,952 at the end of the week. The price was reached. Against this, Gold-Guinea October contract rose by Rs.766 per gram to Rs.48,952 and Gold-Petal October contract rose by Rs.44 to Rs.5,991 per gram. Gold-mini November futures increased by Rs.800 per 10 gram to reach the level of Rs.60,735. Among silver futures,

- Industrial guidance - Dhiru Parekh Malaysia, Indonesia, Papua New Guinea, Nigeria, Colombia, Thailand are the leading palm oil producers. Malaysia is the world leader in palm oil production. Malaysia and Indonesia account for 80 percent of the world's palm oil production. Palm Oil :- Palm oil fruit has 3 times more oil than other vegetable oil and coconut oil. Palm plantations bear palmfruit three years later. The self life of this plantation is about 25 years. Red oil is obtained from palm fruit after processing. This red oil is called virgin oil. It is an unfiltered, unrefined oil. (Which has the quality of virgin oil.) Virgin or red palm oil has the best properties. Because it is less processed. Due to this, it contains more nutrients. But this oil is more expensive. When red palm oil is refined and whitened. Then extra nutrients are removed from it. Red palm oil is highly nutritious. Then white palm oil is a healthy choice. Red virgin palm oil is high in carotene. When c

- Lokabhimukha Guidance - H.S. Patel IAS (Retd.) - The use of non-conventional energy is necessary in the preservation of the environment Continued from previous point:- From the last two articles we have described the importance of electricity and its role in the development of technical and commercial matters and in which mostly up to 75% of electricity production is done through fossil fuel i.e. coal based power stations, the environment is the main issue with the use of natural resources. If we look at the world or in India and Gujarat, seeing the way the per capita consumption of electricity is increasing day by day and considering the necessity of human life and development without electricity, electricity has become an important part in the use of technology and with the necessity of coal-based power generation. Protocols and agreements are made on how to prevent/prevent carbon emissions in summits held at the world level considering environmental issues. But in reality the

- Building clouds for a world war, election situation in India and lack of rain will affect gold prices. - It is not very easy for the middle class to buy 63,500 rupees worth of gold. But he saves money and waits for a good moment. Investing in gold comes in the list of direct savings. Instead of just six percent interest earned on deposits in banks, investment in gold can give double returns - Gold plated 24 carat iPhone mobile buyers are also in India and there are gold shirt wearers too. There are also those who eat gold leaf sweets and there are also many people who offer golden umbrellas to God. A gold watch is seen on the wrist of many people Gold prices are shining again in the wake of summer and marriage season. The upswing in gold prices is not only due to Diwali festivals, marriage season but also due to looming clouds of world war, election situation in India and lack of rains. Ten days later is Dhanteras. People whose wedding bells ring there and the upper middle class

- The total net profit of 213 companies increased by 22 percent compared to the same period last year to Rs. 96,348 crores Companies that have declared results so far for the second quarter (July-September) of the current financial year have seen their third consecutive rise in total net profit but there are signs of a sharp decline in revenue and profit as compared to the same quarter last year. Revenues and profits of companies in the manufacturing and non-financial sectors declined further. Banks and finance companies have managed to maintain their gross interest income growth in double digits during this period. However, there has been a slight decline compared to the previous quarter. The total net profit of the 213 companies that announced results for the second quarter of FY2024 increased by 21.8 percent over the same quarter last year at Rs. 96,348.5 crores. In the first quarter of the current financial year, the total profit of these companies has increased by 23.6 percent

One mistake and 1.20 million dollars went out of hand A post by Janet Valenti, a 77-year-old woman from New York, has gone viral in which she claims that she lost $1.20 million due to her own stupidity 32 years ago. If you go to the current calculation, its cost would be more than 1000 crore rupees. Due to this folly, he had to spend his entire life in poverty. After her husband Bruno died in 1984, Janet lived in poverty with her two children, Kevin and Jennifer. Janet bought a $1 ticket on July 17, 1991. The next day it came to know that lottery tickets have been sold in his town. When Janet checked the number, she found out that she had won 1.20 million dollars. However, he threw the ticket in the dustbin. Despite searching a lot, tickets were not found and had to wash their hands of crores. Gypsy Bride Market: Throw the money, buy the girl A video of Bulgaria's gypsy bride market has gone viral on social media. Men buy girls according to their budget from the market held ev

Controversy has arisen ever since Infosys founder Narayan Murthy asked the IT youth to work 70 hours a week. Narayana Murthy, who made the name of Infosys shine in the world, is a role model for people in the IT field. His son-in-law is the Prime Minister of Britain. The influence of his statements is seen. But by advising the youth to work 70 hours a week, he has incurred the wrath of many. Most of the youth have said that they have to work 70 hours a week i.e. 14 hours a day for five days. Where to find such people to work 14 hours a day? There is feedback that Narayanamurthy wants to employ young IT engineers. A Gujarati brand at Time Square Advertisements on billboards in New York's Time Square are innovative. Half a lakh tourists pass through there. All eyes are on the innovation on the billboard. On October 8, an advertisement called Bee Mock Milk appeared on it. Which was shown 20 times an hour and 480 times a day. Everyone has an attraction towards milk. The ad was for A

Silver rose more than 10 percent in October This month, silver prices touched a high of Rs 73,600 on the MCX on October 20, after touching Rs 65,666 per kg on October 3. While currently the price is around Rs.72 thousand per kg. If seen in this way, the price of silver has increased by 10 percent after October 3. The price of silver in the international market is currently around 23 dollars per ounce. In May this year, the price went above $25 per ounce. While in 2011, it made a high level of 49.81 dollars per ounce. October has been a good month for silver so far, with demand for the white metal rising as a safe-haven investment option amid rising geo-political tensions in the Middle East amid Israel's attacks on Hamas. Efforts to get the economy back on track in China have also supported prices. The industrial demand for this white metal has increased significantly in the last few years. About 60 percent of the world's silver is used in the industrial sector, while the rema

- Occasional - Coal imports rise to three-month high - The demand for electricity in the country is likely to decrease in the near future as the heat decreases and the cold increases Electricity consumption in the country has increased by about 11 percent in September year-on-year. And such consumption has increased and crossed the level of 140 billion units. According to the sources of Central Electricity Authority, coal import has increased to about 55 to 56 lakh tons in the month of September in the power generation sector. Last year in the month of September, the figure of such import was recorded around 50 to 51 lakh tonnes. However, in the period of 6 months of April to September, such total import has decreased to around 277 to 278 lakh tonnes which was 343 to 344 lakh tonnes in this period last year. Coal consumption in domestic thermal power plants has increased to 714 lakh tonnes in the month of September. Which was 617 lakh tonnes in this period last year. The figure of

- Bhoo Bazar : Dilip Shah - Dry fruits and chocolates are likely to be more in demand than sweets during Diwali: - Growth in jaggery consumption as well After Ganpati festivals in the country, Navratri and Dussehra festivals are over and now the Diwali festivals are also approaching, the bustle has increased in various markets. Market experts are now saying that there will be special activity before Diwali especially in dry fruits, pulses and sugar and jaggery market. Apart from festivals in the country, when elections are coming up in various states, the government is also keeping a close eye on the sugar market and industry to control the market price of sugar at a reasonable level. Earlier various sweets were eaten more during festivals but now people have become more conscious about health and due to this the circulation of various dry fruits instead of sweets has been seen increasing in festivals. Due to this, the demand for sugar is seen to be affected. However, the circulati