Market and Business News

-254 crore pounds (about 25 thousand crore) head debt London / New Delhi on 23 October 2020 Friday Time is of the essence. Until yesterday, Pramod Mittal, the brother of Lakshmi Mittal, a native of Indian descent known as Britain's Steel King, was now considered the biggest bankrupt in the world. Pramod Mittal poured money like water into his daughter's wedding. He spent an estimated Rs 485 crore on his daughter's wedding. He now has a debt of Rs 25,000 crore on his head and was declared bankrupt. Pramad claimed that he had a debt of 254 crore pounds (about twenty five thousand crore rupees) on his head and was now living on his wife's money. He also claimed that I had borrowed 11 11 lakh from wife Sangeeta, 24 24 lakh from son Divyesh and 11 11 lakh from a relative named Amit Lohia. Pramod Mittal was declared bankrupt by the Insolvency and Companies Court of London. Mittal is willing to give back a few pennies to his creditors. Mittal borrowed the most from a dir

-Anil is Ambani's company -July to September quarterly profit doubled New Delhi / Mumbai on 23rd October 2020 Friday Anil Ambani's company Reliance Power has doubled its net profit amid a number of court cases and financial constraints. The company's profit doubled in the three months ended July-September. The company disclosed these details in the stock market on Thursday. The company's net profit doubled to Rs 105.67 crore in the last three months. The company had posted a net profit of Rs 45.06 crore in the same period last year. The company had a revenue of Rs 2,626.49 crore in September. The company had revenue of Rs 2,239.10 crore in the same period last year. Thus, the company is currently heavily indebted. The company claimed that it would raise capital by selling gas-fired power plants in a timely manner. The company would also sell some of its subsidiary assets. A company spokesperson said the demand for electricity in the capital New Delhi had declined

Mumbai, Ta. Thursday, October 22, 2020 The labor market in India has been under constant pressure due to declining employment rates in rural India and persistently low employment rates in urban areas. In view of this fact, there is an urgent need to take steps to create more employment in the country, said the Center for Monitoring Indian Economy (CMIE). The recovery in the labor market in India has been weakened due to declining employment rates in rural India and continued low employment in urban areas, according to its weekly review by CMIE. Due to the large share of rural area in India's overall weightage, it is imperative that the employment rate in rural areas stop declining further. However, the CMIE also noted that it is challenging to prevent the employment rate from declining. Additional employment needs to be raised to keep the employment rate stable. Employment rates need to remain at current levels, but the employment situation in September and October of the curre

Mumbai, Ta. Thursday, October 22, 2020 On October 8, the currency in the hands of the people of the country rose by 2.50 per cent year-on-year to Rs 2.08 trillion. This increase has been seen as people have the mentality of maintaining cash on hand in times of epidemics. If digital payments have increased in recent times. A year ago, cash on hand saw a growth of 19.50 per cent. On March 31 this year, a total of Rs 3.50 trillion in cash was found in the hands of the people, which increased to Rs 4.03 trillion on October 8. This indicates that with the implementation of the lockdown in the country after March, people have withdrawn an additional Rs 2.50 trillion from banks. Within a fortnight ending October 3, the number of currency in the hands of the people had increased by Rs 3 crore, according to RBI data. In the first 15 days of October, the number of transactions through UPI jumped to 1 billion. Experts believe that this figure will jump to two billion in the coming festive sea

Mumbai, Ta. Thursday, October 22, 2020 With the Indian economy recovering from the Corona crisis and recovering, the country's financial institutions need to have sufficient capital, said Reserve Bank Governor Shaktikant Das. Banks and non-banking finance companies (NBFCs) must have sufficient capital today as the country's economy is on the verge of recovery. With the spread of the epidemic, the Reserve Bank instructed banks and NBFCs to take stress tests and also to be vigilant. Speaking on the occasion of the release of a book, the Governor further said that administrative reform in the country's banks and NBFCs is needed today and it is also very important. Banks that have a strong administrative system, internal control system and risk assessment are never overliverated. Such banks survive and thrive in times of crisis.

New delhi date. Thursday, October 22, 2020 Companies have shown great interest in operating private trains by Indian Railways. Given this, there is a strong possibility that more and more companies will enter the sector in the near future. The Railway Board recently said that so far the Railways has received about 150 applications from 17 companies. These include Railway Catering Tourism Corporation, Larsen Toubro, and GMR among others. According to these petitions, about 15 different companies in the country have shown interest in operating private trains. It may be mentioned here that the Ministry of Railways last Dt. On July 1, the formal process of approving private trains on Route 108 began. These requests have been made for different clusters. Out of these 12 companies, 12 are Indian companies while one Spanish company has shown interest in operating private trains in India. Earlier, a total of nine companies, including Bombardier Transportation India, Siemens Ltd and Alstom

(By commercial representative) Mumbai, Ta. Thursday, October 22, 2020 Domestic precious metal prices were under moderate pressure behind the world market. The decline in crude oil took a break and saw a modest improvement. The rupee saw mixed flows in the domestic currency market. New unemployment figures in the United States have dropped compared to last week. At home, the GST-free price of 10.50 per ten grams of gold in the Mumbai market, which was Rs 31,150 yesterday, has come down to Rs 31,105 today and closed at Rs 5,112. Silver. The price of one kg was Rs. Prices with GST were quoted three per cent higher. Ahmedabad Sanu was down Rs 100 at Rs 2.50 per ten grams and Rs 200 at Rs 3.50. Silver fell by Rs 200 to Rs 2,000 per kg. Behind the world market, gold was trading at ૯ 1,307 an ounce, while silver was trading at ૨૪ 2.8 an ounce, up from ૯૯ 2.6. Platinum was quoted at ૮૬૯ 7, while palladium was quoted at ૨૩૭ 50 an ounce, up from ૨૪ 200. The number of new jobless in the US ha

(By commerce representative), Mumbai, Ta. Thursday, October 22, 2020 In the Mumbai Oilseeds market, prices of various domestic edible oils like groundnut oil, cottonseed oil and mustard oil were on the rise today, while imported edible oils, palm oil and soyoil were trading higher behind the global market, market sources said. In the Mumbai spot market, palm oil traded at around Rs 120-900 a tonne in hawala resell at Rs 9-50 today, while direct delivery for various refineries for November delivery was around Rs 400-900 a tonne, analysts said. Meanwhile, palm oil futures in Malaysia rose 3 points today, with news of palm product prices rising by ૨ 2.50 to ૦૦ 4.00. In Malaysia, India's demand has picked up ahead of Diwali, while stocks and production are retreating, experts said. There were also indications that crude palm oil (CPO) production had declined by 3 to 4 per cent in the first 30 days of October. Meanwhile, in the Mumbai spot market, the price of 10 kg of imported palm

(Gujarat News Correspondent) Mumbai, Ta. Thursday, October 22, 2020 Corona cases in the US, European countries rise again and tensions between the US and China escalate due to delays in economic packages, US and European markets softening corona cases in India and recovery rate rises to close to 30 per cent. And despite signs of more stimulus measures by the central government, banking-finance stocks saw a softening today. With local funds booking profits in banking-finance stocks today, IT-software services and healthcare-pharma stocks continued to sell off and cautiousness in automobile stocks saw a decline in the index-based market from the start. However, oil-gas stocks, metal-mining stocks and power-capital goods stocks, as well as FMCG stocks, attracted the market. The Sensex fell by 12.5 points to 206.3 and the Nifty spot by 31.50 points to close at 1. Were. Sensex falls 4 points intra-day to 20,505, down 15 points to 303 Trading started today with the expected softness. The

New delhi date. Wednesday, October 21, 2020 As a result of the Corona's sweeping changes in working methods and workplaces, robots in the medium to large business houses will lose 2.50 crore jobs in the next five years, according to a study. Four out of five executives in a survey of about 200 global companies said they plan to accelerate digitization operations and use new technologies. A survey conducted by the World Economic Forum found that Corona has developed a new way of working for the future. If employees are to maintain their employment, they will have to learn new skills by 202. The owners will also share the work equally between the machine and the manpower. As companies increase their use of new technologies for data entry, accounting and administrative operations, new job creation has slowed and the pace of job elimination has picked up. However, a positive thing is that more than 2.50 crore new jobs are likely to be created in sectors like health care, technology

Mumbai, Ta. Wednesday, October 21, 2020 In the first quarter of the current financial year, the overall sales of private companies in the country's manufacturing sector were down 21.10 per cent year-on-year. The lockdown imposed by Corona had a far-reaching impact on the manufacturing sector, according to a report by the Reserve Bank. The RBI's findings are based on the quarterly results released by 1,412 listed private companies in the manufacturing sector. In the fourth quarter of the financial year 2016-20, sales declined by 12.50 per cent. The manufacturing sector, excluding pharmaceuticals, had an impact on the sales of most companies. Sales of pharma companies have seen growth on both annual and quarterly basis. Sales of non-IT services companies also declined by 21 per cent. With the exception of telecom, most of the service sector companies have seen a decline in sales. On the other hand, the sales growth of IT companies has been in the positive zone. The RBI repor

Mumbai, Ta. Wednesday, October 21, 2020 Corona has eroded the discipline of electricity consumers to pay their electricity bills, which has again posed a new threat to the financial status of electricity distribution companies (DISCOMs) in many states of the country. In the first five months of the current financial year, the amount owed by five discoms in Uttar Pradesh to power generating companies has increased by Rs 15,000 crore. In view of the burden caused by the corona, the Union Power Ministry has announced a liquidity package of Rs 1.50 lakh crore to the country's discoms. Despite various measures taken by the government for the discoms to cope with the situation in Corona's time, the debt burden of the discoms is increasing which indicates that the measures taken by the government are inadequate. The government has introduced a letter of credit mechanism in August last year to ensure that Discom pays electricity bills to power generating companies on time. At the

Mumbai, Ta. Wednesday, October 21, 2020 Bitcoin prices have jumped to the level of 15,000 again. Bitcoin prices traded higher at a પર 1,200 level on Wednesday on the Coindesk, hitting a two-month low. After August, the price of Bitcoin has again crossed 15,000. Analysts believe that if the level of ૨ 15,000 is maintained, Bitcoin will see a higher price. In the current Corona era, players are seen playing Bitcoin amid uncertainty in equities and other commodity markets. Not only retail but also institutional players are currently becoming active in the crypto market. World markets are seeing a massive capital inflow that is not just turning to traditional financial markets. The US Federal Reserve is reviewing the costs and benefits of the digital currency, US Federal Reserve Chairman Jerome Powell said in a recent statement. There were earlier reports that the Indian government was considering introducing a special bill in Parliament to ban cryptocurrencies such as Bitcoin.

(By commercial representative) Mumbai, Ta. Wednesday, October 21, 2020 The back of the world market saw a surge in gold and silver prices. Silver also saw a rise of Rs 1,000. Safe Haven Buying in Gold is coming from positive news about stimuli in America. On the other hand, global crude oil prices continued to fall on the back of weakening demand for crude oil. The rupee weakened against major currencies in the domestic currency market. At home, gold in the Mumbai market rose by Rs 2.50 per 10 grams, excluding GST, from Rs 303 yesterday to close at Rs 31,150. Gold was trading at Rs 815, up from Rs 705 at Rs 2.50. Prices with GST were quoted three per cent higher. Silver. The price of one kg was closing at Rs. Prices with GST were quoted three per cent higher. Ahmedabad silver jumped by Rs 1,000 to Rs 200 per kg. Gold rose by Rs 500 to Rs 200 per ten grams at Rs 2.50 and Rs 2,000 at Rs 9.50. Gold surged on reports of stimulus arriving in the US just before the election. Turning to

(By commerce representative), Mumbai, Ta. Wednesday, October 21, 2020 In the Mumbai Oilseeds market, cottonseed oil prices rose again today in the domestic edible oils behind the manufacturing plants, while peanut oil and mustard prices were on the rise, while imported edible oils saw palm oil, soyoil oil and sunflower oil prices as well as global markets. Sources said. Meanwhile, in the Mumbai spot market today, hawala resell in palm oil traded at around Rs 100 per tonne at Rs 5 to Rs 20 per kg, while refineries had direct trade in wings. In Malaysia, meanwhile, palm oil futures were up 3 points today, while palm product prices, however, remained in the minus 2.50. In the first 30 days of October in Malaysia, palm oil production was projected to decline by about 10 to 11 per cent, while exports of palm oil from Malaysia to India increased by about 12 to 15 per cent during the period, according to world market analysts. News of the US agricultural markets also showed signs of recove

(Gujarat News Correspondent) Mumbai, Ta. Wednesday, October 21, 2020 Index-based fluctuations were also felt in Indian stock markets today, with caution in global markets creating a civil war-like situation in Pakistan's Sindh province. But with the world expected to emerge from the Corona epidemic next year and reports of an accelerated economic recovery in China seeing a rapid recovery in Asian markets and a moderate to negative show in Corporate India's quarterly results season in India, the recovery will pick up in the coming days. Was maintained. Funds maintained a rally in banking stocks today in anticipation of massive capitalization of special banks in the banking-finance sector and large growth in lending in the coming days and new stimulus measures by the government. With the recovery in real estate and metal-mining stocks as well as oil-gas stocks as well as consumer durables, power-capital goods stocks, the market recovered from the intra-day shock and returned to

(Gujarat News Correspondent) Mumbai, Ta. 20 October 2020, Tuesday The index-based market remained strong today as the recovery rate in India rose sharply against the resurgence of European countries in the transition to Coro and the reports of Coro's control by February 2021 and assurances from the central government to take more stimulus measures if needed. On the global front, as the US presidential election approaches, efforts to provide the final impetus for stimulus in the US amid growing uncertainty have seen a mixed trend in markets in Asia-Pacific and European countries against the strengthening of futures in US markets. As corona results in increasing digitization around the world and the huge opportunities created for IT companies in India, the stocks of IT-software services companies rebounded today. Along with this, select FMCG stocks as well as automobile, consumer durables, pharma, power-capital goods, telecom stocks were the fund takers. The US dollar had gained 3 p

(By commerce representative), Mumbai, Ta. 20 October 2020, Tuesday The Mumbai oil and grease market witnessed mixed weather today on imported edible oils, while domestic edible oils saw a lull in prices, while mustard and cottonseed oil saw gains. World market news was showing a new upswing in palm oil and soyoil. Meanwhile, about 500-700 tonnes of refinery direct delivery for November delivery was traded at Rs 5 per 10 kg of imported palm oil in the Mumbai market today, market sources said. Meanwhile, palm oil futures in Malaysia rose 3 points in global trade today, with palm product prices hovering between 8 and ૧૦ 10. Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was quiet at Rs 1,20 today, while cottonseed oil was quoted at Rs 7, while mustard rose by Rs 1,050. Meanwhile, the supply of NAFED in mustard has declined, especially in the futures market, where prices have reached new highs, analysts said. Producers, meanwhile, today quoted cotton washed pr

(By commercial representative) Mumbai, Ta. 20 October 2020, Tuesday The fall in the price of precious metals in the world market has resulted in a decline in domestic gold and silver prices. The domestic currency market witnessed mixed weather while prices continued to come under pressure as a result of weak demand with increased supply in crude oil. In the Mumbai market, the price of 10 grams of gold excluding GST at Rs 8.50, which was Rs 30,415 yesterday, fell to Rs 30,210 today and closed at Rs 305. Gold was trading at Rs 30,215, up from Rs 3,105 at Rs 8.40. Prices with GST were quoted three per cent higher. Silver. The price of one kg excluding GST was Rs. In the Ahmedabad market, gold was priced at Rs 500 per ten grams at Rs 2.50 and Rs 200 at Rs 3.50. Silver.2 The price of one kg was Rs.500. Gold for immediate delivery traded at ૩ 1,309 an ounce, while silver traded at ૨૪ 2.8 an ounce, up 2.81 an ounce. Platinum was trading at ૮૭૮ 6, while palladium was trading at ૨૩૫૨ 6 an o

Mumbai, Ta. 20 October 2020, Tuesday Fear of a second wave of corona in countries such as Europe and the United States has raised concerns among Bangladeshi garment manufacturers and the industry is on the verge of being plunged into an unprecedented crisis. Bangladesh is the second largest producer of apparel in the world after China. Sources in Bangladesh's apparel industry say international retailers are either delaying new orders or seeking a major reduction in prices because of the corona. This is a difficult time for us as we are currently taking orders to survive, as claimed by the industry. We expected big orders to come for Christmas but it didn't happen. Consumers are demanding 15 to 20 per cent cut in prices. Bangladesh's garment exports fell 19 per cent to ડો 2.7 billion in the fiscal year ended June. Fifty per cent of Bangladesh's garment exports are knitwear items. With demand for these items improving by less than one per cent in the September quart