Market and Business News

-Vipra's share has been consistently high for the last several years -On Wednesday, the stock market kept recording New Delhi, 24 December 2020, Thursday Shares of Wipro missed the last 20-year-old all-time high for just 52 paise on Wednesday. However, the company's stock hit a new 52-week high. On Wednesday, Wipro's stock continued to jump and its price rose. At one point, the share price reached Rs 387.60. At the time, there was an expectation that the company's stock would break its all-time record. But that did not happen. It was not possible to break the old record for only fifty-two paise. However, market players were expecting as the company's stock opened at Rs 187.35 from the start. Earlier, Wipro's stock hit an all-time high on February 20, 2000. At the time, Wipro's stock had risen to Rs 388.12. Such a height was not seen till Wednesday after that. But on Wednesday and Thursday, investors expected Wipro's stock to reach an all-time high,

(Gujarat News Correspondent) Mumbai, Ta. 23 December 2020, Wednesday Earlier in the week, amid reports of a new outbreak of corona virus in the UK, Indian stocks rallied on Tuesday after global markets rallied on the negative impact of various countries banning UK air travel. -Softy services stocks led the tumultuous rally. Along with IT stocks, foreign funds also saw big buying in automobile, metal-mining and FMCG stocks today. Of course, with the December trend coming to an end on Thursday next week, the funds continued to ease the bullish trade by showing index-based fraudulent short covering. The US dollar had lost 7 paise to Rs 4.5 against the rupee. Infosys, TCS hit record highs in IT stocks The fund's gains in IT stocks rose for the second day in a row, with the Sensex jumping 7.5 points to 9,9.15 and the Nifty spot jumping 19.60 points to close at 12,201. . Sensex rebounds, picks up again Trading started cautiously today. The 30-share barometer Sensex opened at 4,09.50

(Gujarat News Office), Mumbai, Ta. 23 December 2020, Wednesday In the Mumbai Oilseeds market, prices of cottonseed oil and mustard were higher in domestic edible oils today while groundnut oil prices remained calm. Meanwhile, imported palm oil, soyoil and sunflower oil prices rose in the Mumbai market today amid bullish news from the global market. Soyoil prices jumped to Rs 1,100 per 10 kg. In addition to the spot market, the futures market also witnessed a rise in prices. Market analysts said that the cost of importing various imported edible oils is still on the rise due to rising prices in the global market. Meanwhile, imported palm oil traded at Rs 105 to Rs 105 per 10 kg for January delivery in the Mumbai market today. In the global market, palm oil futures in Malaysia jumped 14 points today against the news that the price of palm products jumped another 10 to 20 dollars today. In Malaysia and Indonesia, there were reports of a shortage of goods in palm oil due to declining p

Mumbai, Ta. 23 December 2020, Wednesday India's sugar exports to Iran may not be particularly encouraging this year. Due to increase in sugar production in Iran and shortage of rupee for sugar purchase, Iran is expected to import limited sugar from India. The Indian government had last week announced an export subsidy of 3 million tonnes of sugar. The subsidy has been announced keeping in view the abundant sugar stocks in the country, to make it easier for sugar mills to clear the stocks. In the sugar year 2017-20, which ended on September 30, Iran imported 11.50 lakh tonnes of sugar from India. This figure is about twenty per cent of India's total sugar exports. In the current sugar year, Iran is likely to import barely four to five lakh tonnes of sugar from India, said an official of the Indian Sugar Mills Association (ISMA). Iran is also facing a shortage of Indian rupee. Iran cannot trade in dollars due to US sanctions. India announces sugar export subsidy for third

Mumbai, Ta. 23 December 2020, Wednesday In the first six months of the current financial year, the country's spice exports have grown by 12 per cent year-on-year. High demand for immunity enhancing spices such as turmeric has resulted in an increase in spice exports. Exports of spices and condiments have increased, the Spice Board said. In the first six months of the current financial year, exports of spices and their value-added products stood at seven lakh tonnes, valued at Rs 12.51 crore. In the first six months of last year, the export figure stood at 4.5 lakh tonnes, valued at Rs 104 crore, board sources said. Besides turmeric, exports of cumin, chilli, coriander and ginger have also increased. Exports of turmeric increased by 8% to 6,000 tonnes. In terms of value, it has grown by 3 per cent, sources said. Exports of value added products of spices like curry powders and pastes have increased.

(By commercial representative) Ahmedabad, Mumbai, Ta. 23 December 2020, Wednesday In the United States, President Donald Trump's refusal to sign the Corona Aid Bill saw a retreat in the precious metal, which led to a decline in gold and silver prices at home. In Ahmedabad, silver fell by Rs 1,200 to Rs 2,000 per kg. Gold fell by Rs 500 to Rs 21,600 per ten grams at Rs 2.50 and Rs 21,200 to Rs 9.50. The rupee strengthened against major global currencies on the back of gains in Indian stock markets. Prices have improved as Chinese demand for crude oil has increased. In the Mumbai market, the price of 10 grams of gold, excluding GST, which was Rs 6.50 yesterday, fell to Rs 21 from Rs 4 yesterday. The price of 3.30 was down from Rs. Prices were quoted three per cent higher with GST. Silver. The price of one kg excluding GST fell sharply to Rs. Prices were quoted three per cent higher with GST. Gold was trading at ૮૬ 120 an ounce in late trade at ૮૭૪ 120 an ounce and silver at ૨૫

New delhi date. 23 December 2020, Wednesday Export orders for apparels, handicrafts and leather have been put on hold by British traders in the wake of a growing lockdown in the UK over a new form of the corona virus. This will have an adverse effect on exports from India in the near future. Traders in Corona have sent messages urgently suspending orders for apparels, handicrafts and leather products in India due to the impending lockdown in the transition to the new version of the Corona. However, there has been no adversity with regard to orders of various products for the pharma sector. It should be noted here that Britain is a huge market for India's apparel handicrafts and leather products. According to industry ministry data, India exported નમાં 32 million to Britain last September. Of this, કરોડ 500 million was in exports of apparels and textile products. During this period, exports from India to the pharma sector stood at Rs 2.16 crore. Leather products, on the other ha

Mumbai, Ta. 23 December 2020, Wednesday The last few months have seen a steady increase in demand for retail credit products after the initial shock following the Kovid-12 epidemic earlier this year. This was stated in the report of Trans Union Sibyl. By all accounts, annual growth (YoY) growth has not yet reached pre-epidemic levels, but demand for credit has shown a positive momentum. Demand for retail financing (measured by the volume of inquiries) reached 3% of the demand seen in November 2013 and significantly increased from the low level seen during the early months of the epidemic. The international economy is still reeling from the effects of the epidemic. The demand for credit has seen a positive demand since the lockdown at the beginning of the year as businesses and consumers have embraced challenging circumstances. The increase in demand for credit is an encouraging sign as it is an increase in consumer confidence and an increase in willingness to borrow funds for large

(Gujarat News Correspondent) Mumbai, Ta. 22 December 2020, Tuesday Amid reports of a resurgence of corona outbreaks around the world and reports of a rapid spread of corona in a new form in the UK in particular, the UK The short-covering rally was witnessed today after a slump in global markets yesterday amid fears that the global economy would be further shaken by the closure of several airlines and the spread of corona to more countries. Funds today showed a deceptive rise in short covering after yesterday's big crash in Indian stock markets. In the current scenario for IT-software services companies, the market has recovered from the initial decline, led by a rally in funds in IT stocks, on the back of strong business prospects. After the index-based initial shock, the market closed in the positive zone on attractions in consumer durables, automobiles, metal-mining, oil-gas stocks as well as FMCG, power-capital goods stocks along with IT stocks. At the end of the day, the Sens

(Gujarat News Office), Mumbai, Ta. 22 December 2020, Tuesday In Mumbai, the prices of major edible oils like cingulum and cottonseed oil in the Mumbai oilseeds market saw a rebound today, with prices rebounding in the wake of encouraging news from world markets, according to market sources. Meanwhile, hawala resell in imported palm oil traded at around Rs 1,008 to Rs 1,010 per tonne in the Mumbai spot market today, while direct delivery from various refineries for January delivery traded at around Rs 1,05 to Rs 1,05 per tonne. According to market analysts, the number has risen to 1,050. Thus, the total trade in imported palm oil today was about 1,200 tonnes. Palm oil futures in Malaysia, however, were up 10 points today, with palm product prices hovering between ૫ 8 and ૫ 12.50. The Malaysian government has reportedly set a 5 per cent tax on crude palm oil (CPO) exports for January. In the Mumbai spot market, the price of 10 kg of cingulum oil was quoted at Rs 1,20 and cottonseed

Mumbai, Ta. 22 December 2020, Tuesday Corporate profits rose 17 per cent to an all-time high in the September quarter on rising margins due to lower raw material prices and increased capacity utilization. Interest. Earnings before tax, depreciation and amortization (EBDITA) reached an all-time high of Rs 1.50 lakh crore in the September quarter, up from Rs 1.04 lakh crore in the June quarter, a rating agency said in a report. On the one hand, the country's economic growth rate is turning negative, while on the other hand, the sharp rise in corporate revenue is a matter of concern as it provides an additional example of inequality, said one expert. The analysis was conducted by a rating agency of 200 listed companies, excluding banking and finance and oil and gas companies, which account for 5 per cent of NSE's total market cap. The report noted a sharp rise in profits due to increased capacity utilization by large companies, better management of electricity, fuel and raw m

Mumbai, Ta. 22 December 2020, Tuesday Boeing Airlines has announced plans to set up a manufacturing unit in Bengaluru. The company will now replace the manufacturing unit with a research and development system. The Karnataka government has approved Boeing's decision. The company has decided not to go ahead with production in Bengaluru due to declining demand due to Kovid-18. The company planned to invest a large amount here. The plan was designed keeping in mind the healthy demand for Boeing aircraft in India. India is becoming one of the fastest growing aviation markets in the world. The Karnataka government had approved Boeing two years ago to set up an engineering and product development system in an aerospace park on a 6-acre plot near the Bengaluru International Airport.

(By commercial representative) Mumbai, Ta. 22 December 2020, Tuesday As a result of the retreat in gold and silver in the world market, the prices of both the precious metals also saw a slowdown from higher prices. The currency market saw a rise in the pound. The new form of the corona virus led to a recession and a decline in crude oil. In the domestic market, gold in the Mumbai market fell by Rs 2.50 per 10 grams, excluding GST, from Rs 10,105 yesterday. The price of 2.50 was Rs. Prices with GST were quoted three per cent higher. Silver. The price of one kg excluding GST fell by Rs 315 to Rs 3111. Prices were quoted three per cent higher with GST. Prices remained stable in the Ahmedabad market. Silver was at Rs 200 per kg, gold at Rs 2.50 per ten grams and Rs 31,500 at Rs 9.50 per ten grams. Gold for immediate delivery fell by ૮૮૪ 15 an ounce to ી 12 an ounce and silver by 2.8 an ounce to 2.8 an ounce. Platinum rose from ૧ 1,005 an ounce to ૧ 1,012 an ounce, while palladium rose

Mumbai, Ta. 22 December 2020, Tuesday In the current financial year, the country's gold and silver imports have remained low, helping the government control the trade deficit. During the April-November period of the current financial year, the country's trade deficit narrowed to 3 billion from ૧ 114.5 billion in the same period last fiscal. India is a major importer of gold. Demand for gold from the jewelery industry remains high. Generally, the country's annual gold imports are around 30 to 300 tonnes. Due to the impact of the corona, exports of gems and jewelery fell 6 per cent to ડો 16.50 billion in the current year, according to Commerce Ministry figures. Gold imports fell 30 per cent to ડો 16.60 billion in April-November. It was ૬ 20.50 billion in the same period last fiscal. Silver imports also fell by 2.50 per cent to 2.50 billion.

Mumbai, Ta. 22 December 2020, Tuesday The revenue of the country's telecom companies is projected to grow by 12 per cent in the next financial year due to rising user (ARPU) on average revenue and high data usage. Telecom companies are also likely to raise their tariffs again in the coming months. The tariff hike will boost the region's overall revenue, a rating agency said. The increase in work-from-home and content viewing has led to an increase in telecom service usage. The ratings agency's report expects high consumption to be maintained. As data requirements increase, customers are also upgrading the service from 3G to 3G, resulting in an increase in ARPUs and this growth will continue in the days to come. On the one hand, revenue growth is expected, while on the other hand, the debt burden of telecom companies is expected to decline. Debts are being eased due to rights issues, QIP payments and inflows of additional sponsor funds. The overall debt burden of telec

New Delhi, 22 December 2020 Tuesday The government has received more than 120 FDI proposals from China during the ongoing tensions on the eastern Ladakh border, with an investment amounting to Rs 12,000 crore since April. In April, the government changed the FDI rules, according to countries bordering India. , Government approval is mandatory for capital investment from those countries, i.e. government approval is required for any FDI proposal coming from China. According to sources, the government has set up an inter-ministerial committee to look into China's proposals. Most of the FDI proposals from China are for the Brownfield project, which means investing in an existing Indian company. The note said the new rules were aimed at preventing the acquisition of Indian companies in the wake of the Kovid-19 epidemic. There have been 120-130 FDI proposals from China, with a total investment of Rs 12,000 crore to Rs 13,000 crore. Between April 2000 and September 2020, China's

New Delhi, 22 December 2020 Tuesday The year 2020 has been a bad one for the construction sector, which is the second largest employer in the country after agriculture. Sales are expected to fall 47 per cent to 1.38 lakh units. The report also said that the pace of construction of new houses is also projected to slow by 46 per cent to 1.28 lakh units in 2020, according to a survey of the country's seven largest property markets. These include results from Delhi-NCR, Mumbai Metropolitan Area (MMR), Pune, Bengaluru, Chennai, Kolkata, Delhi-NCR and Bengaluru. A total of 1.38 lakh houses are expected to be sold in these seven cities during 2020, up from 2.61 lakh units in 2019, according to the report. Although real estate sales improved during October-December, 2020 could be a terrific year for the real estate sector following Covid-19. However, the last 2 quarters of this year have seen a boom in residential housing. According to experts in the sector, if the property registr

(Gujarat News Correspondent) Mumbai, Ta. 21 December 2020, Monday Corona is spreading rapidly in the UK-UK again. As the government tightens the lockdown again, the world is worried about the UK. At the same time, the rally in Indian stock markets with global markets came to a halt today amid a resurgence of the global Corona epidemic, with air travel being disrupted and India also shutting down flights. The risky record-breaking rally by funds that did not provide correction, despite the persistent surge in the Indian stock market, also came as a surprise today. Foreign Funds - Foreign Portfolio Investors (FPIs) stocks took a break today after relentless buying in stocks. Funds today saw a massive offloading in stocks ahead of the end of the Christmas-calendar year 2020. As a result, the Sensex plunged more than 2,000 points intra-day, after which the Sensex fell by 1,405.9 points to close at 6.4 and the Nifty spot fell by 4.5 points to close at 12,9.50. Funds that outperformed smal

(Gujarat News Office), Mumbai, Ta. 21 December 2020, Monday In the Mumbai oilseeds market, cingulum and cottonseed oil prices rose further today on the back of manufacturing, while prices of various imported edible oils were spotted behind the global market as well as softer in the futures market, market sources said. New demand in the Mumbai spot market was slow and hawala resell in imported palm oil traded at around Rs 1,008 to Rs 1,010 per 10 kg in 2010. Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil was quoted at Rs 1,200 and cottonseed oil at Rs 1,050, while the prices of cingulum oil were quoted at Rs 1,2,15 per kg, Rs 1,150 to Rs 4,150 per 10 kg. There was news of cotton washed from Rs 1,010 to Rs 1,013. In the Mumbai market, imported palm oil was trading at Rs 1,008 and crude palm oil (CPO) Kandla was trading at Rs 6, while CPO futures fell by Rs 19.50 to Rs 4 and soyoil futures by Rs 12.50 this evening. Futures market sources said that Rs 1,

Mumbai, Ta. 21 December 2020, Monday In order to raise huge sums of money through privatization of public sector undertakings, the government has initiated efforts to increase the valuation of such undertakings as much as possible. To ease the pressure on the country's fiscal deficit due to Corona, the government plans to raise money through various sources, including the privatization of public sector undertakings, finance ministry sources said. Increase the market cap of public sector companies and also pay more dividends so that it will be easier to raise more money by selling their equities from the next financial year. In general, government undertakings are more focused on increasing production and revenue. There is no special emphasis on increasing efficiency and evaluation. As a result, the share price of such ventures is lower than the overall market. Companies should increase their valuation and profitability amid the changing business environment. Only then will su