Market and Business News

(Gujarat News Office) MUMBAI: New demand in the Mumbai oilseeds market was slowing down today. Market trends were mixed. Peanut oil and cottonseed oil prices stopped falling. While the decline in various imported edible oils continued. World market news was showing softness. Soybean oil prices in the US overnight trade were down 115 to 150 points. With soyoil falling in the US, analysts were predicting lower prices for palm oil in Malaysia on Monday morning. Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was Rs 1,610 and cottonseed oil was Rs 150. On the Saurashtra side, the price of cingulum oil has gone up from Rs 2,000 to Rs 6,050 today to Rs 4,050 to Rs 1,050 (15 kg) while the price of 10 kg loose has gone up from Rs 150 to Rs 150 to Rs 12. There, the price of cotton washed was quoted at Rs. Meanwhile, in the Mumbai spot market, imported palm oil fell by Rs 115 to Rs 115 today, while crude palm oil CPO Kandla was trading at Rs 1,105. The last price in ...

(Gujarat News Correspondent) MUMBAI: Indian stock markets have been showing uncertain two-way turmoil for the past few days. Rising inflation and rising inflation in countries including the US have hit a 40-year high, with the US Federal Reserve signaling last week to break the bond-tapping bond-buying program. Liquidity in global markets has increased again in anticipation of the current situation. As the Corona transition begins to spread around the world with the new form of the omicron, economic concerns with health are once again on the rise, with reports that the case is not a major concern at the moment. The stock market has rallied sharply in the past week, giving the expected correction to the overheat boom in Indian stock markets as well. But still the situation is uncertain and caution is advised with caution. From here, things get trickier, and this is where the true meaning of burning up of bad psychic imprints comes into play. On the global front, concerns over Corona-Om...

Unemployment claims in the US fell to a 30-year low and the dollar rose (Gujarat News Office) MUMBAI: The rupee weakened further against the dollar in early trade today as the dollar strengthened against the dollar in early trade. The rupee also weighed on the rupee as the market remained in the red at the end of the day after a two-way rebound in the stock market. In the US, the jobless rate has dropped to a 20-year low, while the job market has strengthened to a 30-year low. In the Mumbai currency market, the rupee opened at Rs 4.5 in the morning trade and touched a low of Rs 4.5 and a high of Rs 4.5. The dollar had gained another 3 paise today. The rupee fell to a one-and-a-half year low. Rising overseas outflows from the stock market also had an effect on the rupee. Such dollar prices were earlier seen in June 2020. At the time of writing, the market was watching US inflation figures. Meanwhile, the global dollar index was up 0.05 per cent today at 5.05 to 7.5. Meanwhile, the ...

MUMBAI: Lenders have taken eight companies to bankruptcy tribunals in the six months from April to September after a year-long moratorium on bankruptcy proceedings was lifted in March 2011 due to the Corona epidemic. In the September quarter alone, 12 companies were taken to the National Company Law Tribunal (NSB) batch for default. Although no major companies have gone bankrupt during this period, the recovery of financial creditors has slowed to 8.5% in September from 3% in the previous year. This is slightly lower than the June quarter recovery, but has been steadily declining since September 2020. This figure is even lower than the pre-Coro average ratio of 20%. According to the Insolvency and Bankruptcy Board of India (IBBI), the total number of companies accepted for bankruptcy proceedings so far has risen to 206. Out of which 3% cases have been disposed off and 5% cases are still under process. Only 15% of companies have had a successful resolution, meaning they have found a...

Mumbai: November has been a frustrating month for the automotive industry. Passenger vehicle sales in November were the lowest in three years and two-wheelers in 11 years. The main reason for the decline in vehicle sales is the shortage of semiconductors and consequently low manufacturing by companies. According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales in November fell by 12 per cent year-on-year to 5,13,8 units. In which car sales fell by 3% to 1,00,308 units. Similarly, total sales of two-wheelers fell by 9 per cent to 10,50,612 units in November from 12,00,8 two-wheelers in the same month a year ago. Sales of scooters fell by 3% to 2,09,8 units and sales of motorcycles fell by 9% to 2,8,8 units. This time, the sales of three-wheelers have also come down to 7,51 units, down 6 per cent from 2,051 units a year ago, which is the lowest sales in the last 15 years. With this, the total sales of all types of vehicles in November fell by 3% year...

MUMBAI: Former Reserve Bank Governor Raghuram Rajan has said that the current picture of the country's economy is mixed, with some sectors of the country's economy performing well while others are struggling to recover. Rejecting talk of recovery in the English alphabet V-shape, he said that the improvement after a sharp decline is always V-shaped and the real challenge for the country is to achieve a steady growth of 2-3 per cent. India still has a long way to go to achieve the development it deserves. A growth rate of 2-3 per cent is required in the economy to increase employment. In the second quarter of the current financial year, India's economic growth rate has been 7.50%. The growth rate has been in line with expectations, but this is due to the low levels in the last financial year. Rajan said that priority should be given to tackling the challenges on the employment front. "India has succeeded in achieving the level of economic growth that preceded the Co...

(Gujarat News Office) MUMBAI: Gold and silver prices continued to decline in the Mumbai jewelery market today. With prices falling further in the global market, the domestic import cost has come down and as a result, prices in the jewelery market have come under pressure, leading to more selling and less buying in the declining market, market sources said. The rise in the dollar index in world markets, as well as rising bond and treasury yields, led to a sell-off in gold. Unemployment claims in the US have plummeted to a 30-year low, with job markets rising and the global dollar index rising. Gold prices in the world market today were ૭૭૨ 16 to વાળા 16 an ounce, up from ૭૭૫ 12 to 12 an ounce. Behind gold, global silver also fell from ૬ 2.15 an ounce to ૭ 6.15 an ounce and was trading at ૮૮ 71.8 to ૮૯ 71.8 an ounce today. Meanwhile, the fall in gold prices in the world market, however, slowed down today on the back of rising crude oil prices in the world market. New York's main ...

Cotton prices in the US fell to a six-week low (Gujarat News Office) MUMBAI: Prices of various domestic and imported edible oils declined in the Mumbai Oilseeds market today. The new demand was wing. The weather in the world market, however, was mixed. Palm oil futures in Malaysia were up 3 points today. In the US, soyoil prices were projected to be in the range of 4 to 5 points in the projection this evening. Meanwhile, in the Mumbai spot market, the price of 10 kg of groundnut oil fell by Rs 1,310 and cottonseed oil by Rs 150. When On the Saurashtra side, there was news that the price of cingulum oil was Rs. 150 and Rs. In Mumbai, imported palm oil was priced at Rs 1,150 while crude palm oil CPO Kandla was down at Rs 1,105. In the futures market, CPO prices were quiet at Rs 1,109.50 in the evening. Soyoil futures were trading higher at Rs 2.50. Meanwhile, soybean futures rose by Rs 150 to Rs 15 per kg this evening. While castor futures were at Rs 50 plus. Mumbai-based castor oil...

(By commerce representative) MUMBAI: The benchmark indices of Indian stock markets closed with modest declines after being extremely volatile on the last day of the week. The three-day correction took a break behind the world market today. However, mid-cap stocks continued to attract investors. Globally, Asian markets also closed lower and European markets opened lower. Investors are cautious amid reports of deteriorating conditions in some countries over Omicron. Financial and IT stocks were under pressure while realty, auto and metals were the main attractions. The BSE Sensex was down 20.5 per cent at 3.7 per cent while the Nifty 30 index was down 3.3 per cent at 1211.30. The Sensex was hovering between a low of 314.5 and a high of 7.31. The Nifty was also seen at a low of 1908.8 while at the top it was seen at 12.5. The Nifty Midcap 100 Index rose 4.5 points to close at 31,606.05. Nomura maintains a neutral outlook for Indian equities for 207. Auto stocks rise on lower buying: Mah...

MUMBAI: The Reserve Bank of India (RBI) has raised the limit for companies to invest in IPOs or government bonds through UPI. Announcing its bi-monthly monetary policy, the Reserve Bank of India (RBI) said it has raised the limit on investments in government securities through IPIs in IPOs and RBI retail direct schemes to Rs. 3 lakh is proposed, while at present this limit is Rs. 3 lakh. Making other announcements regarding UPI payments, the RBI said it was proposing to launch UPI-based payment products for feature phone users. The purpose of which is to enable low amount UPI transactions through 'on-device' wallet in UPI app. This will enable digital payments to reach as many people as possible. There are about 110 million mobile phone users in India, of which about 20 million have smartphones, indicating that a large segment is still using feature phones. The UPI has emerged as a popular payment option for investing in IPOs, said the Reserve Bank Governor. UPI payment fac...