Market and Business News

Mumbai, Ta. 23 September 2020, Wednesday According to a survey, most retailers are worried that the festive season sales will fall by 5 per cent this year. The impact of coronavirus will also be felt on festival celebrations. According to a survey conducted by a private firm, 51 per cent of retailers have concerns about inventory and wages. According to an online survey, 40 per cent of respondents expect the holiday season to be 4 per cent lower. Generally, the share of sales during the festive season in the total annual sales of retail enterprises is very large. The biggest hit in the festive season sales is being seen in the apparel segments. While 4% of non-apparel retailers expect no significant difference in trade. Due to the economic effects of Kovid-12, the market sentiment is looking negative. Large retailers are either canceling their orders or postponing them due to low demand during the festive season. The decline in retail sales will hit the entire supply chain of this

(By commercial representative) Mumbai, Ta. 23 September 2020, Wednesday Domestic behind the world market led to a decline in the precious metal. In Ahmedabad, silver fell further by Rs 1,200 per kg. In three days, silver has lost Rs 5,000. Global investors are shifting from gold to the dollar. Crude oil had a bearish trend. At home, the GST-free price of ten grams of gold in the Mumbai market, which closed at Rs 4,050 yesterday, fell to Rs 4,020 today. Gold was trading at Rs 705, up from Rs 705 at Rs 2.50. Prices with GST were quoted three per cent higher. Silver was down by Rs 2 per kg to Rs 205. At the bottom, silver was seen at Rs 215. Prices with GST were quoted three per cent higher. In the Ahmedabad market, silver lost another Rs 1,200 today. In three days, silver has seen a decline of Rs 2,000. Ahmedabad silver fell by Rs 200 today. Gold fell by Rs 20 to Rs 2,140 per ten grams at Rs 2.50 and Rs 4,150 to Rs 9.50 per ten grams. Gold prices in the world market were quoted at ૯

New delhi date. 23 September 2020, Wednesday Following the Corona epidemic, the country's FMCG / packaged goods companies have seen a steady decline in the launch of new products to combat the epidemic. According to a survey conducted by market analysts, after the announcement of lockdown in the last phase of March last year following the outbreak of Corona epidemic, during the five months from April to August, companies in the sector have been considering various products including immunosuppressive products. Has put in the usual rush to do. Juices, milk and ice cream have also been introduced by companies in the sector to enhance immunity. So some companies also spent a lot of money on research to introduce innovative products. About 50 new products have been launched in various sectors during the last five months by the country's leading packaged food company. In the last full year, the company had launched about 50 products. The company, which manufactures other pesti

Mumbai, Ta. 23 September 2020, Wednesday Considering the impact of Corona on tax revenue in the current year, the Income Tax Department has been reopening the cases of banknote confiscation. In the last one-and-a-half months, notices have been issued to individual taxpayers seeking clarification on the huge amount of cash they deposited in banks during the 2016 banknote ban. In view of the reduction in tax collection, it seems that in the coming days, more and more taxpayers whose financial dealings seem suspicious will start getting notices. At a time when the country is currently in a recession, the market is in a frenzy as notices are being sent to taxpayers. In a circular issued on September 15, the Central Board of Direct Taxes has instructed top officials of the Income Tax Department to start sending notices to the taxpayers, department sources said. Corona was prevented from sending notices to taxpayers. The tax assessment for the year 2017-18 was completed in December 2016

Mumbai, Ta. 23 September 2020, Wednesday The country's banks are likely to restructure loans worth Rs 2 trillion. Due to the economic impact of Covid-12, many borrowers are not able to repay their loans on time. The estimates by SBI include loans from the corporate, MSME and retail segments. Of the total restructuring of Rs 2 trillion, SBI is expected to restructure its loans to the tune of Rs 20,000 crore, SBI chairman Rajneesh Kumar told a banking webinar, bank sources said. Earlier, a rating agency had estimated that loans of Rs 2.50 trillion could be reclaimed. Demand for restructuring is also currently low, given the rapid recovery in the economy following the easing of the lockdown. SBI expects some large corporates with loans of over Rs 1,200 crore to take advantage of the loan recast. Many companies have overcome their financial weaknesses and delivered their books. Companies are also hoping that they will not be labeled as restructuring. The most severely affected ar

(By commerce representative), Mumbai, Ta. 23 September 2020, Wednesday In the Mumbai Oilseeds market, prices of various imported edible oils declined today, while prices of domestic edible oils like Singtel and Cottonseed Oil also fell below the manufacturing level, market sources said. World market news was also showing a new price decline. Falling prices in the Mumbai market today sparked new demand. Due to heavy rains, the presence of traders in the Mumbai market today was negligible. In Malaysia, meanwhile, palm oil futures fell another 20 to 30 points today, with prices of palm products falling by another ૫ 15 to ડો 20. Palm oil production in Malaysia and Indonesia is expected to rise by 15 to 20 per cent in September, analysts said. Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil fell by Rs 1,50, cottonseed oil by Rs 5, palm oil by Rs 20, soyoil digam by Rs 20, refined by Rs 30, sunflower by Rs 1,410 and refined by Rs. , 50 and Rs. 1,050 for mu

(Gujarat News Correspondent) Mumbai, Ta. 23 September 2020, Wednesday With the steady rise in corona transition in the country, the global front is also considering re-imposing lockdown as corona cases escalate and the global economic situation is worsening on the economic front and US-China tensions escalate with recovery in futures in US markets. For the second day in a row, index-based volatility was observed. India's first major agricultural reform bill was passed in both Houses of Parliament amid opposition, but the bill, which now radically changes labor laws, was passed today, but the economic reforms have had a negative rather than a positive effect on the market today. Of course, the passage of the bill to meet the demand of investors to amend the Labor Act to attract foreign investment in the country, including manufacturing, is expected to lead to a huge increase in capital investment in India. However, selling of pharmaceuticals, telecom, oil-gas and IT stocks at the

New Delhi, 23 September 2020, Wednesday After succeeding in attracting investment in Reliance Jio, Mukesh Ambani has also started raising funds for his Reliance retail company. Reliance Retail has found its second investor. After the world's largest tech investor Silver Lake, KKR has announced a 1.28 per cent stake in Reliance Retail for Rs 5,550 crore. KKR has invested in Reliance Retail with a valuation of Rs 4.21 lakh crore. Earlier, KKR had invested Rs 11,367 crore in Reliance Jio. Reliance Retail has about 12000 stores in the country and is visited by 640 million people. Reliance Retail wants to set up a structure in which small companies, industries, farmers can be covered and people can get things at affordable prices and millions of people can be employed. For this, the company has also started a project of digitization of small traders. Mukesh Ambani, chairman of Reliance Retail, welcomed the new investment, while Henry Kravis, co-founder of KKR, said, "We are

(Gujarat News Correspondent) Mumbai, Ta. 22 September 2020, Tuesday For the second day in a row, funds, experts were offloading heavily today, digging into overbought positions in stocks. Corona's transition in the world began to pick up again as the second wave of Corona started in European countries. Amid preparations to re-impose lockdown in countries including UK, Italy, Spain, stocks were offloaded today in European, American and Asian countries. . Today, of course, the funds were sold in stocks, calling for a two-sided extraordinary flurry that confused players. Local funds in pharma, IT-software services stocks saw a big sell-off in automobile, capital goods, banking-finance, Reliance, FMCG, oil-gas stocks against a selective rally. The Sensex closed higher by 1,200 points intra-day today, closing at 2.0.05, down 200.05 points, and the Nifty spot, down 2.50 points at 1,118.5. Global markets saw a modest recovery today with a major erosion halted. Of course, the Hong Kong s

(By commerce representative), Mumbai, Ta. 22 September 2020, Tuesday In the Mumbai oilseeds market, prices of various imported edible oils today witnessed a rebound behind the world market. Falling markets also slowed new demand and trades remained sluggish, market sources said. However, on the one hand, imported edible oils were falling, while on the other hand, prices of various domestic edible oils remained calm today. In Malaysia, meanwhile, palm oil futures fell 41 points today, as news of US agricultural markets also showed a sharp decline. Experts said global edible oil markets had a negative impact amid reports of a resurgence of the corona virus outbreak in various parts of the world. Meanwhile, in the Mumbai spot market, the price of 10 kg of imported palm oil fell by Rs 5 to Rs 20 today, while that of crude palm oil (CPO) Kandla fell by Rs 200. Meanwhile, in the futures market this evening, CPO was trading at Rs 2.50 in September and Rs 7, while soyoil was down in Octobe

Mumbai, Ta. 22 September 2020, Tuesday China has hiked the price of KSM, the country's main ingredient in pharmaceuticals, by 15 to 20 per cent. However, prices of basic raw materials (Active Pharmaceutical Ingredients (APIs)) have not been significantly increased, local pharma industry sources said. India's pharma industry imports large quantities of APIs and KSMs for the production of life-saving drugs, antibodies and steroids. The rise in prices will not only increase the cost of domestic pharmaceutical production, but also China's efforts to block India's efforts to become self-sufficient in the pharmaceutical industry. An increase in KSM prices could not only increase the cost behind domestic production of APIs, but also India's APIs against Chinese products could not survive in terms of prices in the world market, a pharma industry source said. The government has recently announced some incentive schemes for home production of some APIs. The schemes hav

Mumbai, Ta. 22 September 2020, Tuesday In the July-August period of the current year, the demand for home and auto loans in the country has increased again and reached the level of the same period in the year 2017. The percentage of inquiries in home loans was 115 per cent as compared to the same period last year, while the figure for loans against properties was 20 per cent and the number of inquiries for auto loans was 8 per cent as compared to July-August last year, a report said. Demand for retail credit is on the rise as the economy reopens after the lockdown. The downturn in the auto and real estate sectors is expected to continue. However, it will be interesting to see how inquiries for home and auto loans take shape in the near future. The highest number of inquiries was seen in public sector banks, as public sector banks continued to operate even during lockouts as compared to private finance companies, and customers continued to circulate in banks. Amid the economic unce

(By commercial representative) Ahmedabad, Mumbai, Ta. 22 September 2020, Tuesday Behind the world market, the price of precious metals fell sharply. Silver lost Rs 2,000 per kg, while gold also fell. Gold and silver have declined as global fundhouses have sold gold and turned to the dollar. Crude oil was in favor of modest recovery after the shock. The rupee weakened at home as the dollar index rose. In the Ahmedabad market, silver fell by Rs 3,000 to Rs 30,000 per kg. Gold fell by Rs 200 to Rs 2.50 per ten grams and Rs 500 to Rs 4.50 per ten grams. In the Mumbai market, the gold-free price of 2.50 gold per ten grams, which had closed at Rs 3,113 yesterday, fell below Rs 21,000 today to close at Rs 4,050. Gold was closing at Rs 705, up from Rs 3,171. Prices with GST were quoted three per cent higher. The price of one kg of silver, excluding GST, was Rs 4,151 and closed at more than Rs 2,000. Prices with GST were quoted three per cent higher. Gold traded at ૯૩ 161 an ounce, up 17

Mumbai, Ta. 22 September 2020, Tuesday The Goods and Services Tax (GST) system levies the highest tax on vehicles in India as compared to other countries in the world. GST on cars and two-wheelers is 5 per cent and cess is levied at 5 to 6 per cent, leading to an effective tax rate of up to 50 per cent. GST has been implemented in the country since July 2017 and with its implementation other indirect tax rates like excise, octroi, VAT etc. have been abolished. Demands are being made to reduce the GST rate in view of the ongoing downturn in the auto industry but the Finance Ministry has earlier refused to accept it. A Finance Ministry official claimed that the GST rate was lower than the previous rates of VAT and excise duty. The cost of owning a vehicle in India is the highest compared to major world markets. India is today the fifth largest market for vehicles in the world but sales of cheaper vehicles are more prevalent here. At present, the number of vehicles per thousand fami

(Commercial Representative) Mumbai, Ta. 23 September 2020, Tuesday Ajay Tyagi, chairman of the Securities and Exchange Board of India, the regulator of the capital market, said the latest SEBI standards on investing in multi-cap funds should not be to force mutual funds to invest in small, mid-cap stocks, but to identify the funds labeled. It should not be embarrassing. He also said that the minimum liquid investment for all debt-oriented schemes would be fixed by SEBI in view of the recent high redemption pressures. Addressing the 9th Annual General Meeting (AGM) of the Association of Mutual Funds in India (AMFI) here today, the SEBI chairman said that the mutual fund industry has to ensure that the label with which it launches the scheme is in line with its requirements. Should. Indefinite categorization only confuses and affects the investor. It may be mentioned here that SEBI has issued a circular dated September 11, 2020 stating that it has made it mandatory to invest 3% of it

Mumbai, Ta. 22 September 2020, Tuesday State Bank of India has announced a new policy to relieve retail borrowers from the effects of COVID-19. SBI on Monday launched an online portal to implement the loan restructuring policy. Home loan or auto loan can be restructured through https://bank.sbi/ or https://sbi.co.in. Details of income have to be given. Borrowers whose loan accounts fall into the standard category can apply. Has not defaulted on loan repayment of 30 days or more till March 1, 2020. Those who have been affected by the crisis of income cores can also apply. Details of income have to be given to know the restructuring eligibility The SBI said the portal would easily restructure retail loans such as home loans and auto loans. Customers will only have to provide details of their income to get information about their loan restructuring eligibility. Under the RBI's loan restructuring framework, borrowers whose loan accounts fall into the standard category are eligible

- China's massive investment in 1600 Indian companies New Delhi on 22nd September 2020 Tuesday China had an investment of Rs 7,500 crore in at least 1,600 Indian companies. This information was given by the Government of India itself in Parliament. The government said that from March 2016 to March 2020, China had invested Rs 7,500 crore in 1,600 Indian companies under foreign direct investment. The Center had given this information in response to a question in the Rajya Sabha on Tuesday morning. The questioner asked whether it was true that China had invested heavily in Indian companies, especially in start-ups. The government responded with this information. The government said that between March 2016 and March 2020, China had made 0 1.02 billion in foreign direct investment. Such companies involved 46 sectors of business. These included the automobiles, litho printing industry, electronics, various services and electrical appliances. The largest investment was in the .2 172

- Earned Rs 8,500 crore by issuing bonds New Delhi on 22nd September 2020 Tuesday Amid the economic crisis, state-owned BSNL was planning to sell its assets worth Rs 18,000 crore. The central government had given the green signal for the scheme. BSNL had earlier issued sovereign guarantee bonds in the face of the economic crisis. It earned BSNL Rs 8,500 crore. The government had given leave to issue these bonds to sit BSNL. "We issued the bonds at 10.30 am and closed at 12 noon," BSNL chairman PK Purwar said. In such a short time we got twice as much response as expected. We got a bid of Rs 17,170 crore. But we only accepted bids of Rs 8,500 crore. The bonds were issued at 6.79 per cent per annum for ten years. BSNL's bond scheme was attended by ICICI Prudential Bond, National Pension Scheme, State Bank of India and Punjab National Bank. State Bank of India directly contributed Rs 1,500 crore. Proof further said that BSNL had applied for Five G testing. BSNL will d

Mumbai, Ta. 21 September 2020, Monday Shares of global banking giant HSBC Holdings fell to a 15-year low and Standard Chartered fell to a 15-year low after a historic crash today. Shares of Barclays and Deutsche Bank have plunged as much as five per cent in global markets over the past two decades, despite warnings about the source of the money and allegations of large-scale misappropriation of illicit funds. Shares of HSBC Holdings plunged as much as ૫૫ 6.5 a pound on the London Stock Exchange in the evening trade, falling ૫ 19.18 a pound, or 2.3 per cent, to a three-year low of ૮૫ 4.5. The Hong Kong stock market was trading at a low of ૩ 4.50, below the March 2008 low. Shares of Standard Chartered Plaque plunged as much as 2.50 a barrel on the London Stock Exchange in the evening trade, falling ૭ 19.50 a share, or 2.50 per cent, to close at ૮ 61.50 a year later. Shares of Barclays Plaque fell to an intra-day low of ૯ 2.50 and fell to ૮ 6.05 an ounce, or 2.31 per cent, to ૩૪ 2.8 i

Mumbai, Ta. 21 September 2020, Monday Corona and the ensuing lockdown have hit gold smugglers in the country as well as various industries. Gold smuggling in the current year is estimated at an average of two tonnes per month, according to World Gold Council sources. The abolition of import duty on gold in Sri Lanka has increased the likelihood of gold smuggling. Corona and the ensuing lockdown have led to the closure of international airlines and the halting of gold smuggling. Due to the currently strict standards for international flights, any smuggling of gold takes place through India's border routes. Sources also estimated that the smuggling of gold in debt had reached 120 tonnes during the same period last year. Corona has led to a sharp rise in global gold prices following economic uncertainty. However, due to strict monitoring of transit routes in the country, smugglers are not able to take advantage of the high prices. In addition to the high price, India is subject t