Market and Business News

image : Twitter Reliance Industries Walt Disney Media Merger news | The merger of media operations of Walt Disney and Reliance Industries in India has been announced. According to a statement, Reliance will invest Rs 11,500 crore in the merged entity under this deal. The Walt Disney Company and Reliance Industries on Wednesday announced the merger of their media operations in India to create a conglomerate worth Rs 70,000 crore. Nita Ambani will be the Chairperson According to information, Disney and Reliance will also sign an agreement in this regard. Reliance will have 63.16 percent stake in the company. While Disney will get 36.84 percent participation. Nita Ambani will be made the chairperson of the joint venture formed from the media operations of the two companies. While Uday Shankar will be the Vice Chairman of this new company. India's largest entertainment empire will be built Reliance operates several TV channels, Jio streaming app through its media and entertainme

MUMBAI: In the current month, Bitcoin has recorded its biggest monthly gain since October, 2021. After a strong rally on Tuesday, Bitcoin's advance continued on Wednesday and the price crossed the $60000 level. Bitcoin has jumped 40 percent so far in the current month. By late evening, Bitcoin was quoted at $59300, Ethereum at $3363 and Sola at $111. A huge influx of investors into Bitcoin Exchange Traded Funds (ETFs) has led to buying in Bitcoin. Bullish sentiment is being seen in Bitcoin despite concerns that the US Federal Reserve will keep interest rates high for a long time yet. Looking at the continuous buying in Bitcoin, the opinion is prevailing among the players that it will soon cross the all-time high level of $69000 seen in November 2021. After the launch of Spot Bitcoin ETFs, retail and institutional investors are seeing increasing interest in risky digital assets. Spot Bitcoin ETFs were reported to have seen an aggregate trading volume of $3 billion on Tuesday.

Mumbai: It is seen that India is increasing its presence in some major markets like America and UK by taking away China's dominance in electronic exports. Government sources are saying that India is benefiting from the bitterness in China's relations with America and UK in recent years. In November last year, India's electronic exports to America were 7.65 percent compared to China, which was 2.50 percent in November 2021. Government of India is providing various incentives to manufacturers to increase domestic electronics production. This includes tax relief, capital support, easy process of land acquisition etc. From January to September 2023, India's electronics exports to America doubled to $6.60 billion. Which was at an all-time high. On the other hand, US imports from China were seen decreasing. Foreign electronics companies are manufacturing in India and exporting to other countries. However, compared to America and UK, India's market share in Europe an

Ahmedabad: In the last three-four years, the interest of retail investors has increased in the Indian stock market. Apart from this, foreign private organizations or investors have been seen investing heavily in India. In 2023 as well, foreign players and local institutional investors, mutual fund houses supported the market. In 2023, domestic investors led the $4.2 billion equity selling spree by promoters, foreign investors and individuals. A recent ICICI Securities report said promoters were the top sellers in the equity basket with 40 per cent, other foreign investors 38 per cent and individual traders 16 per cent. Apart from this, insurance companies also had a share of 6 percent in the total sales. To counter this sell-off, foreign portfolio investors and mutual funds invested 2100-2100 crores in the Indian stock market. At the end of January 2024, total FPI holdings in Indian stocks stood at around Rs. 62 trillion had reached close to Rs. 380 trillion against a total market

Sensex Closing Bell: There has been a big fall in the stock market today. On Wednesday, the Sensex closed down 790.34 (1.08%) points at 72,304.88 points. So Nifty lost 247.20 (1.11%) points to close at 21951.15 points. Sensex and Nifty fell off the peaks during Wednesday's business session. Currently 30 shares of BSE Sensex The Nifty slipped below 22,000 even before the monthly expiry of futures trading in the stock market. The Sensex then fell nearly one percent to 72,300. The biggest impact of the decline was seen in the broader market. Nifty top gainers and top losers shares Sell-off in auto, media, government banks and metal sector stocks The Nifty Midcap, Smallcap and Microcap indices fell by two per cent each. Dalal Street investors lost an estimated Rs 6 lakh crore on Wednesday. Meanwhile, the market cap of companies listed in BSE reached 386 lakh crore rupees. Auto, media, government banking and metal sector stocks witnessed the highest sell-off in the market durin

Mumbai: As a result of significant increase in economic activities in India compared to global leaders, the country's power demand is also increasing at a faster pace than other countries. According to the report of the International Energy Agency, India's power demand will see an annual average increase of 6.50 percent during the period 2024-2026, which is much larger than the 4.90 percent increase in China and 3.40 percent globally. In 2023, the country's electricity demand increased by more than seven percent, which was significantly higher than China and other countries. Global demand for electricity is estimated to have increased by 2.20 percent last year. Apart from the increase in economic activity in the country after Kovid, the demand for electricity has also increased due to the increase in the use of appliances like air conditioners. In 2023, India's power consumption was higher than the combined figure of Japan and South Korea. Compared to India, econom

Baba Ramdev's company Patanjali now seems to be venturing into the real estate business as Patanjali Ayurveda is in the fray to buy bankrupt Mumbai-based IT solution company Rolta India. Nine companies including Patanjali are in the fray to buy the Rs 413 crore debt-ridden company. Patanjali's competition is a Pune-based developer. Patanjali has placed an offer of 830 crores while the offer of the Pune company is 760 crores. It is said that Patanjali has an eye on the company's lands. India's own container shipping line Increasing piracy in the night sea has become a matter of concern. India's exports may suffer in the long run. The cost of insurance on shipping has increased due to the fear of piracy. Under these circumstances, if India's own container shipping line is prepared, sales can also be kept on it and pirates can also be avoided. When any maritime transport crisis arises, it should be considered that India's export business will not be affected

- In 2024, AI hype will continue unabated, driven by public excitement and anticipation - The Artificial Intelligence (AI) landscape globally and in India is on the verge of significant evolution. Broadly speaking, we are entering an era where the potential of AI will not only be recognized but also harnessed in a practical, measurable way, with a focus on the synergy between global trends and India's specific development path in the AI ​​domain. will be done. In 2024, AI hype will continue unabated, driven by public excitement and anticipation. However, this buzz will likely see a transition to more concrete, scalable implementations of AI technology. This shift from hype to practical applications is especially crucial for countries like India, where IT spending is projected to increase in the coming years. It is a reflection of a strategic, value-based approach to IT investments, signaling the widespread adoption of AI in a variety of sectors. The focus will be on AI technolog

- Boolean Bits - Dinesh Parekh - Indications are that new sales will slow down as seasonal demand rises amid falling prices in jewelery markets across the country. With the news of rising inflation in the market in America, the dollar index rising, Fed President Powell will be relaxed in the trend of reducing the interest rate and indicating that the interest rate will not be reduced before June, influenced the price of gold and the price of gold decreased by 40-40 dollars per ounce, gold on Thursday 1986 dollars. The price per ounce started to be quoted. However, after that the price increased again to 2000 dollars. The government of Zimbabwe will introduce a new currency pegging its currency to gold backing. But the finance minister did not mention the period when he will issue the new currency with the above mentioned gold backing. At present, the exchange rate of the currency JWE is 20,000 local currency to 1 US dollar, the financial condition of his country has deteriorated an

- In case of massive selling by FPIs, the market does not tend to collapse The statistics of the economic growth rate of the country which has been published recently provide an indication that the economy of the country is healthy. The barometer of any country's economy can be known from its stock market. That is, if the economy is prosperous, the share prices and share indices of various companies in the country are high. In the current financial year, the country's economic growth rate has been estimated to be more than seven percent in various reports and it is estimated that this pace will be maintained in the next year as well. While the country's high economic growth rate is encouraging amid the current global slowdown, the current state of the country's stock markets is quite volatile. The stock market has become a huge rollercoaster. One day increases, two days it falls. Why are our stock markets volatile despite claims that the country's economic growth

- Global supply will increase due to this: Per capita consumption significantly lower despite growth in copper demand in India! The prices of non-ferrous metals and non-ferrous metals in the domestic and overseas markets have seen a significant surge recently. Global copper prices were seen quoting a 3-month low after a sharp decline after a recent rally. According to sources in the world's metals market, the Microsoft-backed global Kobold group has unearthed a huge amount of copper in Zambia and there were indications that the amount could be converted into a form of copper mine. This had an impact on the global copper market. Globally, the March futures of copper were quoted at $3.67 to $3.68 per pound. Such prices were last seen in the world market in mid-November last year. In Chile's largest copper mine, the production of copper was recorded up to 1 million tons in 2022, and in contrast to this, the Zambian President hoped that the production figure in the newly discover

Mumbai: Among the small, mid-cap stocks, the prices of many stocks in the Indian stock markets have become overvalued and in this regard, analysts and experts are warning investors to be careful in new investments. Now the capital market regulator Securities and Exchange Board of India (SEBI) has also urged the asset managers of small and mid cap funds to provide more information to their investors about the risks associated with these funds to protect the interests of investors. According to a report, small, mid-sized funds have witnessed an extraordinary inflow of investment, so that the regulatory body has become alert as to how the situation can be controlled in case of any major sell-off in the market. Sources have also said that SEBI has also reviewed the stress tests conducted by such funds. People with knowledge of the matter and a fund manager said that SEBI has asked the fund's asset managers to provide more information to investors about the risks associated with smal

Mumbai: Bitcoin price crossed the $57,000 mark for the first time since December 2021 on strong demand from Bitcoin Exchange Traded Funds (ETFs). In the last twenty-four hours, the price of Bitcoin has jumped by more than 6000 dollars. In the last twenty-four hours, the lowest price was seen at 50948 dollars. The price of Ethereum, the second largest cryptocurrency in terms of market cap, also surged behind Bitcoin to its highest level since April 2022. Ethereum crossed the $3200 level. A report that enterprise software company MicroStrategy bought another 3,000 bitcoins also boosted market sentiment. After hitting $57,039 in the last twenty-four hours, Bitcoin slipped below $56,000 late in the evening. There was profit booking at the higher end. As a result of the surge in Bitcoin, the market cap of cryptocurrencies rose past $2.20 trillion. After being under constant pressure in 2023, Bitcoin is seeing a big boom in 2024. After the approval of the ETF earlier this year, the big

Demand from steel producers to increase availability at home Mumbai: It is being learned that the government is considering reimposing export tax on iron ore to reduce the export of low-grade iron ore from the country after a proposal was brought before the government to ban the export of iron ore by the small steel producers of the country. Most of India's iron exports go to China. India is the fourth largest producer of ore in the world. Due to increase in domestic demand of steel, consumption of iron ore by steel producers has increased. In such a situation, small steel producers want to increase the availability of ore in the country. Domestic iron ore prices have also increased by 30 percent recently as export demand remains high. Government sources said that an opinion has been sought from the Ministry of Steel regarding the application of export tax on iron ore. To increase the supply of iron ore in the country, the government had imposed a 50 percent export tax on iron

India's biggest win comes just a day before the ministerial conference organized by the World Trade Organization (WTO). Ahead of the meeting, WTO member countries have agreed on a memorandum of understanding to facilitate business in the services sector. India and South Africa had stalled the agreement over some of the sector's regulations, but now both countries have agreed, allowing the agreement to be easily implemented. New rules will be framed for the service sector The WTO announced this evening that the remaining business-related issues in the services sector have been resolved. Following this decision, new rules will be formulated for the service sector and 71 countries of the world will also be part of the agreement. After the implementation of the new rules, India will benefit the most. Because the business of India's service sector is spread across many countries around the world. Apart from this many other countries will also benefit from it. Doctor, enginee

New Delhi: Manipulations in stock markets - price ringing and violations by operators, participants will be like this. Capital market regulator Securities and Exchange Board of India (SEBI) is now using artificial intelligence for investigations in various cases. Sebi Whole Time Member Kamlesh Chandra Varshney said entities should keep track of technological developments. Regarding the case of manipulations in the stock market, he said that working within the law will be beneficial and problems will arise for the violators. In this regard, a SEBI member said, SEBI is using AI-Artificial Intelligence for checks and more than that, using multiple methods. This was said during the 13th International Convention held by the Association of National Stock Exchanges Members of India (NMI). Regarding this he further said that everything is fine for SEBI as long as there is transparency in the market and there is no manipulation. SEBI is taking action against violators to increase transparen

Mumbai: The prices of precious metals remained soft in the Mumbai jewelery market today. New demand was slow. World market news was discouraging. Global gold prices were 2030 to 2032 to 2033 dollars per ounce from 2035 to 2036 lows. Behind gold in the world market, silver prices were 22.96 dollars per ounce from 22.48 to 22.54 to 22.55 dollars. At the Ahmedabad jewelery market, behind the World Bazar, silver prices fell by Rs.500 to Rs.70,500 per kg. Ahmedabad gold prices were Rs.64,000 at 99.50 for 10 grams and Rs.64,200 at 99.90. Brent crude oil prices in the world market were 81 to 81.14 dollars at a low of 81.62 per barrel. While the price of US crude was 76.49 to 75.84 to 76.11 dollars. The price of platinum in the world market was 890 dollars an ounce while the price of palladium was 967 dollars. Global copper prices were 1.37 percent lower today. In the Mumbai bullion market today, gold prices without GST were Rs.61,975 at Rs.62,275 at 99.50 and Rs.62,224 at Rs.62,275 at Rs.

New Delhi: India has decided to liberalize the space sector by revising its Foreign Direct Investment (FDI) policy. Sources in the industry say that the cabinet's decision is likely to result in an investment of $4 to 5 billion over the next 3 to 5 years in all sub-sectors of the Indian space industry such as satellite manufacturing, launch vehicles, ground segment solutions and related services. According to companies working in the Indian space sector, the move will allow other global giants including SpaceX, Virgin Galactic, Starlink, Amazon Blue Origin, Airbus Defense and Space, RocketLab, Maxar Technologies and Utelsat-OneWeb to enter and launch satellites. It may also open doors to the Indian market. The Union Cabinet approved a policy of 100 per cent FDI in manufacturing of systems or sub-systems and components for satellites. On the other hand, 74 per cent FDI has been allowed in satellite manufacturing and operation, satellite data products, ground segment and user segm

MUMBAI: With regulatory norms tightening in China, many companies have shelved their plans for public offerings of equities (IPOs) this year. The China Securities Regulatory Commission called for regulatory opinions from market participants on share listing standards in a bearish market and fined a company for fraudulent listings. The Commission has taken various measures to restore investor confidence while China's main indices have been volatile for the past five years. Due to regulatory measures, 47 companies have shelved their plans for IPO so far this year, compared to 29 in the same period last year. Huge penalties are being levied from listed companies for accounting fraud. The number of IPO withdrawals hit a new high as a result of strict regulatory measures, a report said. In 2022, Chinese companies raised 587 billion yuan through 424 IPOs, which decreased to 356 billion yuan through 313 companies in 2023. It is to be mentioned here that the Chinese authorities have

MUMBAI: Claims of offering trading schemes through FPIs or Foreign Institutional Investor (FIIs) sub-accounts or institutional accounts with special privileges are false, fraudulent and illegal, the Securities and Exchange Board of India (SEBI) has clarified. ) has done. SEBI has advised investors to be wary of receiving several complaints regarding Indians joining fraudulent trading platforms claiming to be associated with SEBI-registered Foreign Portfolio Investors (FPIs). Such scams have been reported to prey on people through online trading courses, seminars and mentorship programs in the stock market and through social media platforms such as WhatsApp and Telegram as well as live broadcasts. Scams of this type have been reported claiming to be associated with or employees of SEBI-registered FPIs, asking people to buy shares, subscribe to IPOs and download applications with the benefits of institutional accounts without the need to open an official trading or demat account. The

Reliance Industries and Reliance Foundation today announced the Vanatara Program – a comprehensive initiative to focus on the rescue, treatment, care and rehabilitation of injured, persecuted and endangered animals in India and around the world. Spread over 3000 acres within the greenbelt at Reliance's Jamnagar refinery complex in Gujarat, Vanatara aims to be among the leading providers of conservation efforts globally. Working with leading animal husbandry and welfare experts, Vanatara has transformed the 3000-acre sprawling space into a natural, rich, green and lush habitat resembling a forest for the rescued animals to live happily. India's unique Vanatara initiative was conceived and brought into existence under the passionate leadership of Anant Ambani, Director of the Board of RIL and Reliance Foundation. Ambani is also heading Reliance's ambitious renewable energy business in Jamnagar, and in that capacity, spearheads Reliance's journey to become a net carbon z

India Thailand Controversy | Thailand's ambassador to the World Trade Organization (WTO) Pimchanok Wonkorpon Pitfield's comments angered India. After which India boycotted Thailand on this forum and refused to have any kind of discussion with it in WTO. What really matters? Indeed the Thai ambassador alleged that India was using 'subsidised' rice bought for the public distribution system to dominate the export market. His comment created a diplomatic controversy. India strongly opposed it and Indian negotiators refused to participate in group discussions where Thailand's representatives were present. Thailand now along with countries like America, EU, Canada Thailand's ambassador made the comments at a consultative meeting on Tuesday, which was welcomed by some representatives of rich countries. This angered the Indian delegation here. It is believed that Thailand is now standing with other countries including America, European Union, Canada and Australia.

MUMBAI: After analysts and experts raised the red flag in recent days about overvaluation of many small and mid-cap stocks, i.e. trading at high prices, capital market regulator Sebi has also prudently hedged the assets of small and mid-cap funds before a possible flood. Stocks rallied across Indian stock markets today as managers were instructed to provide more information to their investors about the risks associated with funds. Along with this, only seller's boards started swinging with panic selling in many penny stocks. Small, mid-cap stocks had a big wash today after the big crash reported on 12th February 2024. Marketbreadth very poor Market sentiment soured as funds offloaded in heavyweight-frontline Sensex, Nifty stocks and several A group stocks. Gaps started falling in Sensex, Nifty as auto, banking, metal, oil-gas, healthcare, realty, FMCG stocks fell. Finally, the Sensex fell by 790.34 points to 72304.88 and the Nifty spot fell by 247.20 points to close at 21951.15.