Market and Business News

- The changing weather conditions are becoming a major challenge to the agriculture sector of the country While on one hand climate change is affecting the country's agriculture sector and crops are being damaged or production is falling, on the other hand the important Pradhan Mantri Crop Insurance Scheme to provide security to farmers by compensating them is weakening day by day. . Due to high temperature, wheat yield was affected this year, due to which the government was forced to impose regulations on wheat exports. Production of the current year's kharif season is estimated to be moderately low due to uneven rainfall. In the current sugar season of 2022-23, which started from October 1, domestic sugar production is reported to be seven percent lower. Lower sugarcane production is expected to result in lower sugar production. Unfavorable weather has affected sugarcane production in Maharashtra. Thus, when adverse weather conditions are affecting the production of various

- Boolean Bits : Dinesh Parekh - Further, the price of silver is expected to rise faster than gold: Global silver, which is currently $23, may rise to $30 an ounce. Traders' meeting in the world market was followed by a speech by Fed Chairman Jerome Powell. In the month of December, a 50 points increase in the interest rate indicated a bullish trend in gold and a rise in the price of gold by 1 percent has been seen. After rising above 1800 dollars in the world market, the price has remained at 1785 dollars. Traders and investors are sitting on the fence on how much the Fed will raise interest rates next year, depending on Fed Chairman Jerome Powell's speech. Gold prices got a boost on signs that the Fed will slow interest rates and rein in inflation to 5.1 percent in 2023, which could lead to a rally in gold. It should be noted that gold prices generally rise every year during the period from December 15 to January 15. A major correction is likely to come in gold after the

Its cover is more expensive than the iPhone What do I want from the iPhone? People have spent millions on the decoration of the iPhone. Now the iPhone has become a luxury rather than a necessity. People use the iPhone more for display than for communication. Millions are spent on iPhone front and back covers. The covers used for phone covers of approximately one and a half lakh rupees are also worth two lakh rupees. Covers made of titanium and aluminum change the look of Apple phones. Such covers for iPhone twelve are available online for $3199. For people who want to keep the phone in a pouch slung over the shoulder instead of holding it in the hand, the 21.5-15 cm size is $750. Its pouch is more expensive than iPhone. Sunken airlines sit again Like the phoenix rising from its ashes happens in some companies but rarely in the case of airlines. Because it costs the same as tying an elephant. When Jalan-Carlock took up the bid to fly Jet Airways in 2020, the venture was dismissed a

- Although Iran stopped proforma registration, there was a significant increase in exports to UAE countries against export congestion to Iran. The tea market and industries in the country have recently seen a rapid reversal of trends. Instead of covid and lockdown, now with the speed of reopening, bulk users have returned to the tea market. There has been a boom in the tea market at the global level as well. However, recently, as the indications of corona cases are increasing again in China, this issue has also seen a stir in the global tea market. Meanwhile, tea market insiders have predicted an increase of around 300 to 330 lakh kg in the total export of tea from the country in the current calendar year. The total export of tea from the country in the year 2021 was about 1965 to 1966 lakh kg, the information has shown the possibility of increasing to about 2250 to 2300 lakh kg in this year 2022. The demand of Indian tea from various countries of the world has increased this year. H

After China, India is the second largest consumer of gold in the world. India imports a large amount of gold. Along with this, large scale gold smuggling is also taking place in the country. Earlier most of the country's gold was smuggled from the Middle East but now Myanmar has overtaken this. Most of the gold smuggled into India comes from Myanmar. In the year 2021-22, the Directorate of Revenue Intelligence (DRI) in the country had smuggled 37 percent of the gold brought into India through Myanmar. 20 percent of the illegal gold seized in the country comes from the Gulf countries. Seven percent of the gold smuggled into India reached India through Bangladesh, while 36 percent of the gold smuggled from other countries reached India. According to the 2021-22 Smuggling in India report, gold smuggling cases have increased during the Corona period in the country. Last year, 160 cases of smuggling were caught out of which a total of 833.07 kg of gold worth Rs 405.35 crore was seized

- Ambitious leaders who want to take India's economy to new heights have now started efforts to move forward after coming at number five... - India becoming the fifth largest economy in the world is the biggest economic achievement of 2022. Amid this economic achievement, India is plagued with many problems at the domestic level. - When Apple's assembly plant Foxconn was vandalized in China, Russian news agencies wrote that Apple now wants to withdraw from China. India is steadily moving towards the international economic platform. When India became the fifth economic power in the world, the attention of all the countries of the world was drawn towards India. When India overtook the UK, a kind of economic scrimmage was passed among people connected to the economic system and having an anti-India attitude. No one could have imagined that India would push the UK aside. Ambitious leaders who want to take India's economy to new heights have started trying to overtake Germa

Mumbai: In the Mumbai currency market today, the rising price of the dollar against the rupee hit a break and the rupee rose as the price collapsed. Market sources said that there has been a rapid rise in the rupee at home amid indications that the dollar price is under pressure in the global market as the stock market rises. The price of the dollar opened at Rs.82.61 this morning with a high of Rs.82.72 and a low of Rs.82.40 to Rs.82.45 this morning. The rupee rose by 36 paisa overall today. There were indications that the dollar index against various major currencies in the world market broke below the level of 104 today and fell to a low of 103.73 to 103.77. Meanwhile, at the Mumbai currency market today, the British pound rose to Rs.102 against the rupee. The pound rose by 56 paise today. The price of the pound was higher at Rs.102.31 to Rs.102.20. In the world market too, there was news that the prices of pound and euro rose against the dollar. In the Mumbai market today, the

- Nifty lost 245 points to 18414 - Tight monetary policy will remain in the US, the rise in Corona cases and the impact of Rajan's statement on the economy - Investor's assets of Rs. 2.78 lakh crores of erosion AHMEDABAD: Sensex lost 879 points and Nifty 245 points on the back of other adverse reports including indications of continuation of tight monetary policy after interest rate hike in America, due to selling pressure from Chomer including foreign investors. After the US Federal Reserve hiked the interest rate by half a percentage point, the market morale fell, indicating that this policy will continue for a long time. Apart from this, the statement made by the former governor of the Reserve Bank Rajan that the global economy including India will remain weak next year and the increasing number of corona cases in China-Hong Kong, the signs of the global recession became stronger, its effect was seen on the stock market. The BSE Sensex fell 879 points to 61,799 today o

- Struggle continues from America to Europe to stop historic high inflation - After the US Federal Reserve's 0.50 percent hike, interest rates in England, European Union, Switzerland, Norway also increased. AHMEDABAD: Local central banks in the US, European Union, England, Switzerland and Norway continued to raise interest rates in the last 24 hours to stem historic inflation, without worrying about an economic slowdown. Not only this, America, the European Union also indicated that there is still a situation in which the interest rate has to be increased. In America, the world's largest economy, the chairman of the Federal Reserve, Jerome Powell, also warned that there will be severe consequences if there is a failure to curb inflation and do not expect interest rates to fall before 2024. Stock markets in the US, Asia and Europe fell on worries that higher interest rates would increase interest costs for consumers and companies, reduce purchases and lead to an economic slo

MUMBAI: While the world is waging a war against polluting sources, the consumption of massive carbon-burning coal is poised to reach an all-time high this year. A report by the International Energy Agency has stated that if timely measures are not taken, the high level of coal consumption will be maintained for a few more years. Russia's invasion of Ukraine has disrupted gas supplies in many countries and increased the use of relatively cheap fuel, coal, as gas becomes more expensive. High temperature and drought conditions in many areas have increased the demand for electricity. Nuclear power production in Europe has weakened. According to the annual report of the agency, the global consumption of coal has increased by 1.20 percent to cross eight billion tons in the current year. Consumption of eight billion tonnes is the highest ever and more than the 2013 record. Coal consumption is declining in developed countries, but consumption is increasing in developing countries in A

MUMBAI: Edible oil prices in the Mumbai oilseeds market today continued to fluctuate between unilateral fluctuations. There was a new demand. Barely 40 to 50 tonnes of imported palm oil was traded at Rs.935 per 10 kg. Singoil and cotton washed prices were calm in Saurashtra markets today. In the world market, Malaysia palm oil futures increased by 23 points today, while US soybean oil prices were 70 points lower in the projection today after the overnight increase of 27 points. In the present market of Mumbai, the price of 10 kg of imported palm oil was Rs.935. While crude palm oil CPO kandla prices were being quoted at Rs.855. The price of Saurashtra single oil was Rs.1550 and Rs.2470 for 15 kg and the price of washed cotton was Rs.1160 to 1170. In the Mumbai market, the price of single oil was Rs.1570 and that of cottonseed oil was Rs.1225. However, the prices of soybean oil increased to Rs.1155 for digum and Rs.1225 for refined. The price of refined sunflower was Rs.1320 and the

- Antenna : Vivek Mehta - Manufacturers to market with CNG variants to make the most of consumer mindset Electric vehicles are a great option to curb pollution. It can control the pollution sooner. On the other hand CNG is less polluting so it is also becoming a good option. Electric vehicles are expected to become cheaper and the reliability of their battery performance will increase. As the prices of petrol and diesel are skyrocketing, diesel cars are becoming less and less. Petrol and diesel cars increase the amount of carbon monoxide in the atmosphere. Due to CNG, carbon monoxide pollution is reduced by 80 percent. CNG produces 45 percent less hydrocarbons compared to petrol and diesel vehicles. The engine life of a car running on CNG is longer. The cost of oil change is also less. This is also one of the reasons for the increasing popularity of CNG cars across India. Thirdly, the maintenance cost of the car is also reduced due to CNG. Yes, one of the dangers of CNG cars is tha

The BSE index (close 62181.67 on 09-12-22) is soft from a top of 63583.06. Currently, the 12-day average is 62467.43, the 48-day average is 60917.38, and the 200-day average is 58142.11. Daily MACD is bearish. The weekly MACD is bullish. Shows oversold position on daily basis, overbought position on weekly as well as monthly basis. Above 62420 above 62655, 62735 are resistance levels. A low of 61889 to 61720, 61260, 60790 is possible. Government bank forms can be taken low. Coromandel (closing price Rs.961.40 on 09-12-22) is bullish from the bottom of 886.30. Currently, the 12-day average is 925.64, the 48-day average is 947.61, and the 200-day average is 931.70. Daily MMACD is pro-reform. Weekly MACD is bearish. Overbought on a daily basis, neutral on a weekly basis and a neutral position on a monthly basis. Above 976 to 990, 1003, 1015 possible. 937 below 950 is considered as support. Central Bank (closing price Rs.33.15 on 09-12-22) is in favor of correction from the bottom of 24

- Sales Tax : Soham Mashruwala The GST law is atrocious. Bringing the GST law in India has also brought benefits but there is a huge controversy regarding the taxation. In this law, taking the instance of registration to persecute everyone continuously, the water falls under the GST law and then if the form becomes delinquent and the form is not filled for six consecutive months, then the instance of registration is suspended or Cancellation is done by the officials of the account. Now in this situation when the supplier pays the tax-interest-penalty to remove all the deficiency from the sheet defaulter but many a times the application for restoration of the registration instance is delayed, it is a very bad situation. Something similar before the Allahabad High Court in Umesh Kumar Vs. State of U.P. (Writ Tax no. 648/ 2021 dated 25-11-2022) which has been discussed in today's article. Rule 23 Rule 23 provides the procedure when the instance of registration of a supplier has be

- Commodity Current : Jayavadan Gandhi - Year 2023 declared as International Year of Cereals With more than 70 countries supporting the proposal of the Government of India to celebrate the next New Year 2023 as the International Year of Nutrition, the United Nations General Assembly declared the year 2023 as the International Year of Cereals, and now the government has undertaken an exercise to promote the cultivation of cereals on a large scale. India produces many cereal crops including wheat, jowar, bajri, ragi, maize. India's contribution to the production of food grains in Asia is more than 80 percent. In the last four-five years, the production of major grains has been steadily increasing. In the year 2015-16, the country produced around 145.2 lakh tonnes, in the year 2017-18 164.4 lakh tonnes, in the year 2019-20 172.6 lakh tonnes and in the last year 2020-22 around 179.60 lakh tonnes. 4 million dollars worth of major grains were exported, with a continuous increase, the

- Lokabhimukha Guidance : H.S. Patel IAS (Retd.) - Under Section-73 AA of the Land Revenue Act - There is a provision to cancel the permission given if he stops cultivating himself within five years without taking possession of the land The purpose of the Land Reform Acts is to protect the families dependent on the land, in which the ownership rights over the land are considered as part of the 'Khede Tei Zamin' (Khede Tei Zemin) as well as the Scheduled Areas (Schedule Area) i.e. the Scheduled Tribes i.e. the tribal population in the Constitution of India. Sections-73A-A etc. of the Land Revenue Act have been implemented as part of imposing control on the transfer of lands of the tribals residing in the territories and that the transfer of lands held by the tribals in the areas where the original survey has not been settled on the date of notification dated 4-4-1961 is before the Collector. Impermissible restrictions are placed. Subsequently, in the original section 73A, up

The Standing Committee on Finance presented its report in Parliament today and recommended several clarifications and changes in the proposed Competition Amendment Bill, 2022. A standing committee headed by Jayant Sinha has suggested the proposed bill to clarify the manner of calculation of transaction value and allow inclusion of nexus in the settlement process. The Committee also suggested the Competition Commission of India (CCI) and the Director General to introduce an impact-based analysis before detecting anti-competitive conduct. The committee said that if the deal is to be scrutinized, the deal value should be reviewed every year instead of once in two years. The committee noted in its report that the bill does not specify how to calculate the transaction value and what is meant by direct, indirect or retroactive consideration. Agreeing with the views of the stakeholders, the committee said, "These conditions may bring such transactions into the merger control process,

- Chart Indication : Ashok Trivedi The BSE index (close 61337.81 on 16-12-22) is soft from a top of 63583.06. Currently, the 12 day average is 62345.32, the 48 day average is 61170.35 and the 200 day average is 58343.14. Daily MACD is bearish. The weekly MACD is bullish. Shows neutral on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. Above 61893 above 62190 resistance level is considered. A low of 61292 to 61260, 60790, 60330 is possible. ABB (closing price Rs.2838.50 on 16-12-22) is bearish from the top of 3292. Currently 12 day average is 2991.32 and 48 day is 3046.67 as well as 200 day is 2730.00 daily and weekly MACD is bearish. Oversold on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 2940 above 3015 resistance level is considered. 2825 down to 2783, 7230, 2650 possible. Bank of India (closing price Rs.91.05 on 16-12-22) is bearish from a top of 103.50. Currently, the 12-day average is 92.

- Commodity Current : Jayavadan Gandhi In the year 2022, there have been huge ups and downs in the commodity market, especially in the agri sector. Cotton, guar seed-gum and spices have been in turmoil throughout the year. About 68 percent positive return has been found in spices, especially cumin. While 16 percent in turmeric and one and a half percent negative return has been found in coriander. Cotton and guar have also seen an average bullish trend. As the year 2022 is counting days to its completion, cumin prices are currently hitting record highs with red cholo booming. Heavy support for the bull has been at the end of the year as the demand for cumin improves as the lockdown in China is lifted. The production of cumin and turmeric is expected to decrease in the year 2023. While the production of items like coriander, cotton, rayado is expected to be high. During the year 2022, more than 400 crores of spices have been exported. This year, the export of spices to many countries

- Smile Index : Vanity - He can be assigned jobs like loan advisor for banks, fund manager for government projects and hero of his own biopic in Bollywood. Brain drain is a huge problem in India. A lot of brilliant geniuses go abroad to pursue careers, but now there is a lucky coincidence that India's own brain Nirav Modi can come back to India with a welcome coin from the UK. Some prison authorities are already enthusiastic about making Nirav Modi's historic comeback to India. He hopes that after spending a few days in the cell, Nirav Modi will guide him on who to bottle and why to get money for the renovation of the jail. However, it is not right for a talent like Nirav to sit in jail. If such talented people are in jail, nothing will happen more than heroines like Jacqueline Fernandez can get some gifts. Instead Nirav's talent should be utilized at the national level. By keeping Nirav in jail, if he has ponds or gardening, his earnings will not even cover the bank&#