Market and Business News

- A big opportunity for finance minister to make India an alternative to China While the Indian economy is currently the best performer among the world's major economies, Finance Minister Nirmala Sitharaman is expected to adopt a liberal policy on the economic front in the upcoming budget. However, there is no doubt that issues like the risk of recession in developed countries, Russia-Ukraine war, bitter relations with China and high crude oil prices will have an impact on the budget. The finance minister will also be forced to consider the situation of Corona which is taking shape at home and globally. Compared to other economies, with lower levels of inflation and relatively higher economic growth rates than most G20 countries, India has been able to absorb or combat external shocks well in 2022. The country's fiscal and current account deficits have been high, but relatively strong forex reserves and a flexible exchange rate policy have succeeded in sustaining the economy

- Around the Market Indian-origin woman's hedge fund in the US Industries There are certain industries where men dominate. But a woman of Indian origin based in America has broken this rule. Indian-origin Mala Gaonkar has created history by launching SurgoCap Partners, a women-led hedge fund in the US. This is the first women-led hedge fund in the fund industry. Its assets under management are 1.8 billion dollars. A 100 percent women-owned industrial park India's first 100 percent women-owned industrial park has become operational at Hyderabad. Which is promoted by Telangana Government and Fikki Ladies Organization. About 25 units run only by women are operating in this industrial park. Out of which 16 units are working in the field of green category industries. The park is spread over 50 acres of land at a cost of Rs. It has been commissioned with an investment of 250 crores. Submit specific data for IPO : SEBI Markets regulator Sebi has returned Lava International'

Battle between superpowers for semi-conductors The global semiconductor market is worth $500 billion and is expected to double in 2030. A cold war is going on between America and China to capture the semiconductor market. It is believed that whoever dominates this market will be considered as a super power in the future. This superpower wants to be the market leader by producing semiconductors in its own country. The superpowers want to keep the market which is going to be worth 1000 billion dollars in 2030 under their influence. Children in China cannot play online games all day Internet addiction is a huge problem in China. The authorities have made various efforts to free people from this obsession. China also has laws on how many hours boys can play online games. In 2019, there was a restriction that children could only play games for 90 minutes a day. Now, after 2021, under 18s are restricted to play the game for one hour a day on Fridays only once a week. Boys are allowed to

- Global dynamics will impact the investment growth plan in India despite favorable domestic factors One of the key policy challenges in India is to boost economic activity and accelerate reforms. In this regard, however, much depends on improvement in the investment climate, which has been sluggish for some time now. For this, the government is promoting public investment so that private investment can be found, but this has not been very successful. While related factors such as bank and corporate balance sheets are improving, investment may take some time to see improvement. Even before the pandemic, most countries in the developing world were grappling with problems of low growth in investment. According to a research study published in the World Bank's latest 'Global Economic Prospects' report, real investment growth in developing countries has declined from around 11 per cent in 2010 to 3.4 per cent in 2019. With the exception of China, there was a sharper slowdown

- In 2030 India's stock market will become the largest stock market in the world, India's economy is marching ahead amid many uncertainties and challenges. - India has started dreaming of 20 trillion US dollars by 2047. If this dream is to be achieved, India will have to grow at the rate of 7 to 7.5 percent. - The progress of India's economy includes India's startup sector, India's corporate sector, India's leadership of G-20, implementation of 5G in India, PLI scheme proving important in manufacturing sector, free trade with Australia and growing nationalism among people etc. When we are passing through the Republic Day celebrations in 1974, a situation has arisen where we can celebrate the economic condition of the country as well. While the whole world is stuck under the clouds of recession, India is still far away from the effects of recession. The country's industries and corporate sector are eyeing the budget to be released next week. This is the l

iPhone maker Apple has become the first company to export smartphones worth $1 billion (Rs 8,100 crore) in a month from India, a report said. India had the highest mobile phone exports in December, worth Rs. 10,000 crore was over. Apple and Samsung have been the leading mobile exporters, with Samsung at the top. But in November, Apple overtook Samsung to become the largest exporting company from India. It currently manufactures the iPhone 12, 13, 14 and 14+ in India. The phone is manufactured by three contract manufacturers Foxconn, Wistron and Pegatron. Some other small exporters also export iPhones, the report added. Both Foxconn and Pegatron's manufacturing facilities are located in Tamil Nadu. Wistron's facility is in Karnataka. These are participants in the Centre's Production-Linked Incentive Scheme. Government officials told ET that total exports would have been higher if Samsung's production unit was operating at full capacity. It was closed for about 15 days

- Debt has increased in recent years due to government measures to ease the situation caused by Corona - The next budget will be the last full-fledged budget of the current government in view of the upcoming Lok Sabha elections in 2024. The government can make popular announcements. Mumbai: The Indian government is likely to borrow Rs 16 lakh crore in the next financial year starting from April 1. This assumption came from a survey conducted by economists. Expenditure on infrastructure development and fiscal discipline will be the two main priorities of the next budget. Due to the government's measures to ease the situation caused by Corona, the debt has increased in recent years. The next budget will be the last full-fledged budget of the current government in view of the upcoming Lok Sabha elections in 2024. Keeping in mind the elections, there is a possibility of some popular advertisements by the government. In view of the proposed global recession, there are fears that t

Unbiased bounce in platinum and palladium prices Despite the outbreak of Corona in China, copper rose by two and a half percent in the world market Mumbai: Gold and silver prices rose again in the bullion market in Mumbai jewelry market today. The price of gold in the world market was 1926 to 1927 to today's high 1935 to 1936 and low 1918 to 1919 to 1926 to 1927 dollars per ounce. Ahmedabad gold prices increased by Rs.200 per 10 grams to Rs.99.50 to Rs.58500 and 99.90 to Rs.58700. However, Ahmedabad silver prices fell by Rs.500 per kg to Rs.68,500. In the world market today, the price of silver was 23.93 to 23.94 per ounce at a high of 24.15 and at a low of 23.62 to 23.63 to 23.64 dollars. The price of platinum was 1050 to 1050 and low 1036 to 1041 to 1042 dollars per ounce today while the price of palladium was 1735 to 1736 today high 1754 and low 1718 to 1723 to 1724 dollars. The market was keeping an eye on the growing epidemic of Corona in China. However, global copper pric

The British pound rose to the level of Rs.101 Euro rose to Rs.88 against the rupee: The prices of Japanese and Chinese currencies also rose rapidly MUMBAI: The Mumbai currency market today witnessed a one-sided bounce in the dollar against the rupee and the dollar ended the day in plus. Although initially the dollar prices tumbled and at one stage the dollar price fell below the Rs.81 level, but then the dollar price rebounded after absorbing the shock. Against the rupee, the price of the dollar opened at Rs.80.94 this morning with a price of Rs.81.13, after which the price rose to a low of Rs.80.88 and then the price rose again to a high of Rs.81.94 to Rs.81.39. Today, the rupee fell by 26 paisa overall. Today, the dollar fell to a two-month low against the rupee at one point, but the dollar rebounded after that. According to the sources of the currency market, today the buying of importers and various government banks was seen at a low level in dollars. According to sources in t

The beginning of the pre-budget boom! Continued growth of local funds Spot Nifty up 91 points to 18118 : IT index up 487 points, Bankex up 368 points : FII/FPIs sell Rs 220 crore net in cash MUMBAI: After witnessing a prolonged period of correction and volatility in the Indian stock markets, as the pre-budget short-term rally-boom has started, stocks rallied. The market remained bullish today despite the chaos, driven by fantastic results in ICICI Bank, Kotak Mahindra Bank, IDFC First Bank last week along with budget expectations, gains in banking stocks as well as gains in funds in IT-software services, technology stocks and buying in automobile stocks. With the funds, there were indications that the players were preparing to reactivate. Funds also picked up FMCG, oil-gas, consumer durables stocks in anticipation of corporate results. The rally was supported as China's re-opening on the global front eased recessionary risks for the global economy. The Sensex rose 319.90 points

- Chart Indication - Ashok Trivedi The BSE index (close 60621.77 on 20-01-2023) is soft from a top of 63583.06. Currently, the 12 day average is 60588.58, the 48 day average is 60835.30 and the 200 day average is 58866.16. The daily MACD is bullish. Weekly MACD is bearish. Shows overbought on daily basis, oversold on weekly basis and overbought position on monthly basis. Above 61110, 61394, improvement is seen. 61394 up to 61420, 61670, 61900, 62000 possible. 60470 below 60470 is considered support. If 59628 breaks below that, there is a possibility of 59400, 58395, 58470. Adani Ports (closing price Rs.774.45 on 20-01-2023) is soft with a top of 916. Currently, the 12-day average is 796.44, the 48-day average is 830.75, and the 200-day average is 809.10. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as oversold position on monthly basis. Above 797 above 808 resistance level is considered. A low of 771 is possible down to 754, 733. Indian Hotel (closi

- Industrial guidance - Dhiru Parekh The raw chemicals used in our modern disinfectants in India are produced by coal tar industries fractionation and distillation plants. It includes chemicals like phenol, creosote, monochlorophenol, high boiling tar acid, chloro xylenol. Creosote Oil :- Creosote oil is used to make disinfectant cleaners. Its carbonization is done at low-temperature by reacting creosote oil with needle solution to form a white emulsion. Creosote has a phenol content of 15 to 20, 20 to 25, and 25 to 30 percent. The creosote oil used for the disinfectant needs to be naphtha free. Phenol :- Phenolic fraction of high-degree purity is produced by modern distillation method. Contains orthocresol and mixed paracresol, high-boiling xylenol and ethyl substituted phenol. Mercuric compound :- Mercuric compounds like mercuric chloride, phen:yl-mercuric borate are used to get high-coefficient. But the use of mercuric compounds is prohibited. Chloro xylenol or monochlorophenol

- Sales Tax - Soham Mashruwala GSTR 2A and now GSTR 2B have shown much ambition under the GST law. Amendments are being made to Article 16 from time to time and claiming tax is like chewing iron gram. Recently Government issued Circular No. 183/15/2022- GST dated 27-12-2022. In which it has been clarified that in the financial year 2017-18 and 2018-19, the claim can be accepted by adopting the method regarding the tax not appearing in GSTR 2A. This matter was discussed in the previous article. In this regard regarding the transaction of the financial year 2019-20 by Karnataka High Court Wipro Limited India [WP No. 16175/2022] dated 6 January 2023 delivered a noble judgment which is discussed in today's article. The facts of the case May by the applicant. In the forms supplied to ABB Global Industries & Services Pvt Ltd and filled by the petitioner, the GST number was wrongly entered. Due to this, the recipient of the applicant's supply does not see the transaction in GS

- Antenna - Vivek Mehta - The export money made by the chemical industry will get stuck in Europe including Brazil, the economic situation will deteriorate, NPA will increase. The chemical industry is struggling. Since Gujarat's chemical industry has been running at barely 20 to 25 percent capacity for the last six to eight months, a situation has arisen that a number of units associated with the industry have to downsize. This is the situation for the last six months. Secondly, since China has imposed anti-dumping duty from 20 to 80 percent on chemicals exported from India, India's exports have come to a standstill. Third, China has stopped releasing consignments of goods sent to China. As a result billions of rupees of the chemical industry have been trapped. In Gujarat, the chemical units with a capacity of 1000 tonnes are also almost closed now. About 7000 to 8000 chemical units of Gujarat are in Chhatral, Kadi, Naroda, Odhav, Vatwa, Nandesari, Padra, Ankleshwar Dahej,

- Talk of the market - The richest Bernard's heir is a daughter, not a son Not long ago, Bernard Arnault, who became the richest person in the world, has announced that his daughter Delphine will be the CEO of Dior. 'Dior' is the second largest luxury goods brand in Bernard's Louis Vuitton Group. Until now, the responsibility of 'Dior' was on Bernard's son Antony, but now by making his daughter Delphine the CEO, Bernard has made it clear that Delphine will be his heir. Delphine will become the CEO of 'Dior' from February 1. 'Dior' is a company with sales of 60 billion dollars. Its brand value is around 900 million dollars. Bernard's decision came as Delphine set new sales records as Louis Vuitton's executive vice president. Bernard also has three sons from his second marriage. Jack Ma started cashing in by selling stocks Alibaba Group has sold its 3.1 percent stake in Paytm's parent company One-97 Communications. This stake

- Possibility of foreign shipping companies breaking up with Pakistan MUMBAI: Ship agents have warned the Pakistan government that all export cargoes will be suspended as shipping line companies are considering stopping service to Pakistan after Pakistani banks stopped remittance of freight rates to foreign shipping lines services due to lack of dollar availability. All international transport services from Pakistan except bordering countries are mostly by sea and any disruption could be a serious matter for Pakistan's international trade, the Pakistan Ship's Agents Association told the government on behalf of the press reports. The association has warned that if international trade is disrupted, the economic situation will further deteriorate. Due to the decline in cargo volumes, even foreign shipping lines are considering stopping their services to Pakistan. Pakistan's foreign exchange reserves fell to $4.60 billion in recent weeks. Keeping in view the low level of

- Inflation, even amid tough periods of sharp rise in interest rates - 34% jump in ICICI Bank's net profit, 31% jump in KOTAK Bank's net profit, 117% jump in IDFC FIRST Bank's profit: 80% gap in YES Bank's profit Mumbai: The Indian banking sector has been performing brilliantly with high credit growth and reduction in NPAs despite the challenging times of inflation and consequent rise in interest rates. In the third quarter ended December 31, 2022, among the PSU banks, after the good performance of the banks, now the private banks have reported strong performance by presenting encouraging results. In the results of private banks announced today, the net profit of the banks has registered a huge jump from 31 percent to 117 percent. Along with this, the bad loan position of banks i.e. asset quality has also been seen to improve. Banks' NPAs have seen a decline. Thus the performance of all the private banks has been strong except for the exceptional Yes Bank. Banki

- The unemployment rate rose to 8.03 percent in November from 7.8 percent in October and 6.4 percent in September due to a large increase in urban unemployment. New Delhi, Dated 21 January 2023, Saturday New formal job creation fell below 1 million in November for the second straight month, payrolls data released Friday showed, signaling pressure in the job market. However, after three straight months of declines, new formal jobs rose 17 percent sequentially in November, helped by a low base in October. The number of new monthly subscribers under the Employees Provident Fund scheme rose to 899,332 in November from 768,643 in October. October saw the lowest monthly enrollment since May 2021, when just 649,618 new customers were added. At the beginning of FY23, the number of monthly new customers remained above 1 million for six consecutive months (April-September), touching a high of 1,159,350 in July. Payroll additions, which are calculated by taking into account the number of new

- Confusion of economics: Dhawal Mehta - Fiscal deficit will reach 6.4 percent of GDP at the end of the financial year The fiscal deficit of the Government of India has crossed the limit. The financial year of 2022-2023 will end on 31st March 2023 when India's fiscal deficit (fiscal deficit) which is the total revenue of the government and the government's expenditure. Shows the (negative) difference between the total expenses incurred during the year. Deficit means the deficit the government has to borrow to meet the deficit which the government pays so much interest for its irresponsibility that a large part of our total budget is used to pay the interest on the debt. Hence, the government does not have enough money for its welfare schemes like education, health, providing tap water, repairing roads, etc. A government does not always become bankrupt. Because it has a very valuable power to pay off debt and that is the power to print new money. The use of this power is not

- Every figure of the budget for the financial year 2020-21 was left in the air - Concessions or inducements will neither grow the economy nor alleviate widespread depression - There is no government explanation regarding the weakening of the performance of important sectors of the country's economy The National Statistics Office (NSO) has started issuing preliminary estimates of national income for the financial year that is about to end in 2016-17. Although this preliminary estimate is only for eight months of the current fiscal year, information is available that can be helpful in preparing the budget for the new year. The figures compiled by the Comptroller General of Accounts on income and expenditure till November also provide important clues. Due to these figures, the Finance Minister is also being helped in revising the estimates for the current financial year and preparing the budget estimates for the next financial year. Mixed signals in estimates Estimates can also