Market and Business News

MUMBAI: Expectations of an increase in sales of hot season clothing, food items, refrigerators and air conditioners have now come down as temperatures have dropped following unseasonal rains in most parts of the country in March. After experiencing extreme heat in February this year, the manufacturers of summer goods were hoping for an early summer this year and an increase in the sales of the goods, but in March, the rains and cold in most parts of the country saw a significant increase in the demand for air conditioners, freezers, ice creams and cold drinks. Not so, said the sources of the sales department of one of the big departmental stores. The possibility of a longer summer due to El Nino effect this year is not ruled out, but the sales growth of fridges and ACs will depend on the weather conditions in the country in April-May, said a business head of a company. Even though there was no increase in sales in March but we expect to see an increase in April-May, so we are not c

MUMBAI: On the one hand, while housing prices are skyrocketing in urban areas, developers are seen moving away from affordable housing schemes announced for the poor and the middle class. In 2022, the share of affordable housing in the seven metros of the country has decreased to 20 percent from 40 percent in 2018. Under the Affordable Housing Scheme, residences are provided at a price below Rs 40 lakh. A total of 357,650 new residences were launched in seven metros in 2022, of which less than 20 percent were affordable or priced below Rs 40 lakh, said a report by a research firm. In 2018, the share of affordable housing was 40 percent in 1,95,300 new launches. However, after 2020, there is a decrease in it. In 2020, the share decreased to 30 percent and in 2021, it came to 26 percent. Developers have become indifferent towards affordable housing schemes due to high land prices, increase in lending rates and low profit margins. High cost of land is becoming a big problem for deve

AHMEDABAD: After the collapse of America's small giant Silicon Valley Bank, small US banks have recorded a record drop in deposits. Data released by the US Federal Reserve on Friday showed that small-sized banks saw a historic drop in deposits this week. Deposits in small banks fell by $119 billion to $5.46 trillion in the week ended March 15, more than double the previous record decline. This was the largest decline in deposits since the week ended March 16, 2007. Loans at all but the 25 largest commercial U.S. banks rose by $253 billion to a record $669.6 billion, according to the Fed's weekly data. Smaller banks thus had only $97 billion of surplus cash at the end of the week. This figure indicates that banks have taken advance preparations as a precautionary measure of withdrawal of deposits by depositors. On the other hand, deposits at major US banks rose by $67 billion to $10.74 trillion in the reporting week, Fed data showed. Fed figures show that only half of the d

Mumbai: Bullion market was officially closed today due to Saturday in Mumbai jewelry market. However, market sources said that after the closed market, there was a break in the record rise in gold and silver prices behind the world market. A rise in gold in the world market resulted in profitable selling of funds. The price of gold in the world market dropped from 1998 to 1999 to 1975 per ounce and lastly at the end of the week it was 1978 to 1979 dollars. Behind gold, the global silver price also dropped from 23.40 to 23.41 to 22.96 per ounce and lastly there were indications that the price was talking at 23.22 to 23.23 dollars. Meanwhile, at home in Ahmedabad jewelry market today, gold prices stopped rising and broke the record high of Rs.600 per 10 grams. Ahmedabad gold prices fell to Rs.60800 from 99.50 and Rs.61000 from 99.90. Ahmedabad silver prices remained calm at Rs 70,500 per kg. The price of platinum in the world market was 984 to 985 dollars per ounce. There was news th

MUMBAI: The proposed changes in the Finance Bill are negative for the mutual fund industry and may lead investors to shift to equity schemes. Financial analysts believe that gold funds and international funds will also be affected by the proposed amendment. Financial analysts believe that bank FDs will become more attractive, as the maturity amount of both debt funds and bank FDs will now come under the same tax net. The proposed changes are likely to come into effect from the new financial year starting April 1. If this proposal is implemented, there will be a negative impact on all debt funds, especially in the retail category, as people with high net worth may opt for safer investment options like bank FDs. We can see capital inflows from long-term debt funds to equity funds and also rise in popularity of sovereign gold bonds, bank FDs and non-convertible debentures in the debt category. This is good news for banks, as they can attract customers with the help of higher interest

Talk about the market All cars of Jr. NTR are number 9999 The car collection details of Telugu superstar NTR Jr., who danced in the Natu Natu song from the Oscar-winning film RRR, have gone viral. According to these details, Jr. NTR has a passion number of 9999 and all his cars have the number 9999. When NTR last bought a Lamborghini Urus in August 2021, he spent Rs 9999 17 lakhs. NTR was the first Indian to buy this car. NTRA bought this car at an ex-showroom price of Rs 3.16 crore. Apart from this, the number of Mercedes Benz GLS purchased after its launch in 2016 is also 9999. The number of the fancy luxury sports utility vehicle Range Rover Vogue is also '9999' and the number of the BMW 7 Series limousine is also '9999'. Actress Rageshwari overcame paralysis Actress Rageshwari, who became an overnight star with the superhit film Aankh with Govinda, is in the news. Rageshwari has just put up a post giving tips on how to not feel lonely and fall victim to depre

Chart Indication - Ashok Trivedi The BSE index (close 57989.90 on 17-03-23) is pro-soft with a rise to 60498.48. Currently, the 12 day average is 58803.11, the 48 day average is 59871.213 and the 200 day average is 59178.84. Daily and weekly MACD are bearish. Daily and weekly oversold as well as monthly oversold positions are shown. 21st to 23rd are the days of turning of gain. Above 58179 above 58255, 58660, 58860 resistance levels are considered. 57503, 57158 breaks down, 56070, 56610, 56147 are considered support. HDFC (closing price Rs.2564.15 on 17-03-23) is bearish from a top of 2696.80. Currently 12 day average is 2592 and 48 day average is 2692.92 and 200 day average is 2535.29. Daily and weekly MACD are bearish. Oversold on a daily basis, to oversold on a weekly basis and from overbought to neutral on a monthly basis. Above 2580 above 2599, 2614 are considered resistance levels, and below 2502 below 2491, 2455, 2423 are possible. Lupine (closing price Rs.657.00 on 17-03-23

- Rising power demand will not bring expected reduction in coal consumption in the country With the economic recovery in the country, the power demand is increasing sharply, resulting in increasing pressure to fully utilize the power generation units and coal mines. Apart from economic recovery, power demand is also increasing as a result of rising temperature. Since the beginning of the current year, i.e. in January, the power consumption has increased by 12 percent or 13.50 billion KWh compared to January 2022, according to the government statistics. Peak-hour demand also increased by 10 percent year-on-year to 211 gigawatts. Coal-fired power generation also increased by 18 percent or 16 billion kWh. In 2022, the overall increase in electricity consumption was 6 percent and the last decade has seen an increase of more than four percent. The increase in power demand is due to structural reasons rather than weather conditions. The Purchasing Managers' Index (PMI) of the country&

- Antenna - Vivek Mehta - In the international market, China is offering laminates products at 45 to 50 percent cheaper than India, but India is beating them in terms of quality. - Laminate manufacturing industries have been moving on the growth path since last decade. Apart from meeting hundred percent domestic demand, its exports also increased from 2500 crores to Rs. 3000 crores. Manufacturing of laminates Rs. 10000 crores has exceeded. India's share in the total market of laminates in the world is 3.5 to 4 percent and it is likely to increase to more than 10 percent in six to five years. Today it ranks 5th in the world in the export of laminates. Indian manufacturers are ahead of China in terms of quality of laminates. However, Indian exporters are struggling to cope with China's aggressive pricing. There is another reason for it. China has agreements with many countries for duty free export of laminates. Some countries have imposed a very nominal duty on laminates impor

- Shifting the discussion from Russia's invasion of Ukraine to other important issues will increase mutual cooperation among the member states of the Group (G-20). Two recent ministerial-level meetings of the Group of 20 G-20 ended without issuing a joint statement. Non-release of a joint statement by the member countries in the meetings of this group could prove to be a big problem for India. India has to play an active role to find a solution to this problem. India has worked hard to win the presidency of the group of U-20 countries to show its leadership potential in the world. Indonesia was chairing the G-20 group last year. Under his leadership, results exceeded expectations. With the help of the Indian delegation, Indonesia managed to bring Europe, Russia and China together in terms of the wording used in the joint statement on Ukraine. The words used in the joint statement issued after the G-20 group meeting last year are no longer acceptable to Russia and China. Meanwhil

A total turnover of Rs.6,33,473.46 crore was recorded in 74,58,840 trades during the week of March 10 to 16 in various commodity futures, options and index futures on the country's leading commodity derivatives exchange, with commodity futures accounting for Rs.1, 38,385.23 crore and the share of options was Rs.4,94,699.44 crore. Meanwhile, commodity futures and options recorded an all-time high turnover of Rs.1,68,487 crore during the week on Wednesday, March 15. Along with this, options on commodity futures on the exchange saw a record notional turnover of Rs 1,37,282 crore, while crude oil options contracts recorded a high turnover of Rs 1,24,952 crore. During the week under review, 14,00,579 trades worth Rs 81,730.56 crore were transacted on MCX in precious metals futures gold-silver. In gold futures, MCX gold April futures opened at Rs.55,325 per 10 grams at the beginning of the week, touched an intra-day high of Rs.58,661 and a low of Rs.55,270 during the week, ended the w

- Industrial guidance - Dhiru Parekh Today, the dairy industry is a very large, automatic plant and is far from the local community. According to the new technology, the technique has been developed without changing the self-life of the milk or dairy product as well as the aging test. A long preservation method is pasteurized UHT (Ultra High Temperature) and increases the sterilization system. Another type is ESL system for pasteurized milk with two stays sterilization to help water test and preserve it for a long time. Another system consists of the Tetra Pack (ESL), system. Which gives 30 days self-lime to milk. This type of utilization technology is different. which is based on membrane filtration and low-temperature treatment. A process in which a fractional plant is used to separate the skim milk. And here the milkmani cream is heated separately at 120 degrees Celsius to remove 99.5 percent of the bacteria containing the bacteria. which heated milk to 72 cm. Reheat for 15 secon

Around the Market -130 crore in e-rupee currency Finance Minister Sitharaman said that by the end of February, more than 130 crore e-rupees are in circulation in the country. After the pilot project of digital rupee was introduced by the government last November and December, it has received an encouraging response. Feb. As of end 4.14 crore in retail sector and 126.27 crore in wholesale sector digital e-rupees are in circulation. At present, digital rupees are transacted through nine banks in the country. - Government withheld funds, Bhumi Pednekar came to the rescue Film actress Bhumi Pednekar is providing financial assistance of Rs 75,000 every month to the Abhyudaya Ashram in Moraina district after the district authorities ordered to stop the government fund due to financial irregularities. It may be mentioned that in 2019, when Bhumi went to Moraina for the shooting of the film Sonchiraiya, a 9-year-old girl from this ashram acted in the film. Due to which Bhumi came in good

Mumbai: Funding in the country's startup ecosystem has not increased in the current calendar year. Uninvested venture capital has drawn the most in seven years as investors await valuations of startup companies. Investors now want to invest in companies that are associated with good revenues and profits. This has made the assessment more realistic. According to the data, 231 funding deals were done between January 1 and March 21 this year. However, this has failed to boost sentiment, as entrepreneurs as well as investors believe that the perceived weakness in funds is likely to continue. This year's funding was less than $10.5 billion. Last year, from January 1 to March 21, $10.5 billion was funded through 696 deals. Also, the number of unicorns has not increased. Unicorns are startup companies valued at more than $1 billion. Unicorns were very attractive to the startup sector until the funding meltdown in mid-2022. In 2022, 23 unicorns were added and in 2021, 42 were seen.

MUMBAI: The end of the financial year 2022-23 has been a turbulent one for global markets as a new banking crisis looms. The loopholes in the banking system of America and European countries have shaken people's confidence. News of one disaster after another for the global economy Volatility in the global markets is increasing at present. After the banking crisis, the US attack on Syria and the rapprochement of China and Russia with the US, the possibility of escalating geopolitical tensions in Europe and the possibility of more banks in European countries, financial giants in trouble and reports of more bank collapses in the US, led to a retreat in Indian markets again last week with global markets. have seen In which the government has increased the Securities Transaction Tax (STT) on F&O and has shaken the sentiment in the last days of the financial year. Despite the possibility that the next financial year 2023-24 will be challenging among these factors, in the event that

Image: Pixabay Ahmedabad, 25 March 2023, Saturday Continuous efforts are being made by the central government to continuously increase the income of the farmers. The government is running several schemes to increase the income of farmers. Of which PM Kisan FPO Yojana is one. Under this scheme, the government provides financial assistance of Rs 15 lakh to farmers across the country to start new agricultural businesses. The main objective of PM Kisan FPO scheme is to provide relief from economic crisis by making farmers self-reliant. To avail the PM Kisan FPO scheme, farmers have to form an organization or company (FPO) together, which should have at least 11 farmers. Only the beneficiaries of PM Kisan will get the benefit of this scheme. Through it, farmers will be able to purchase farm-related equipment or items like fertilizers, medicines and seeds. The government aims to create 10 thousand FPOs by the year 2023-24. This is how you can apply 1. To avail the benefits of PM Kisan

The price of gold in the world market rose to 2000 dollars AHMEDABAD/Mumbai: The import cost of precious metals increased rapidly as the world market rose and the rupee depreciated in the domestic currency market today, and due to this, the prices in the jewelery markets of the country soared to a record high today. Today in the Ahmedabad gold and silver market, silver rose by Rs.1 thousand to Rs. The level of 70 thousand was crossed. On the other hand gold also rose to Rs. A new high of 61600 was reached. Record bullishness in gold and silver continued at a fast pace in the Mumbai jewelery market today. There were indications that gold prices in the world market rose further and crossed 2000 dollars per ounce. Amid the banking crisis and retreat of stock markets in the world market, funds have been moving towards gold. Global gold prices today were directed to rise from 1968 to 1969 dollars per ounce in 2003 to 2004 to 1998 to 1999 dollars. Behind gold, global silver prices rose fr

Mumbai: The eyes of the world are now turning more towards India than China, seeing that it is expected that India will surpass China in terms of crude oil demand in the coming days. While India has still overtaken China in terms of population, the need for development has also increased with the increase in consumption. However, the increase in the number of electric vehicles in China is one of the reasons for the decline in demand for its crude oil, an analyst said. He also added that India will overtake China as the driving force of global demand anytime soon due to population growth. India has already started playing a major role in the crude oil market after the Russia-Ukraine war and is becoming a consumer of Russian crude oil.

New Delhi: In February, e-way bill generation fell to a three-month low of over 8.18 crores. It was higher than 8.24 crore and 8.41 crore in January and December. Technically, the data for February is 28 days while the previous two months (January and December) have a total of 31 days. However, during the financial year 2021-22, the number of e-way bills generated in December was 7.16 crore which decreased to 6.88 crore in January but increased to 6.91 crore in February. One month's e-way bill generation gives an indication of GST collection in the next month. This means a lower number of e-way bills in February may end up in lower collections. However, some experts say that e-way bill generation is not directly linked to revenue collection. An e-way bill is an electronic document that provides proof of movement of goods at the portal. As per Rule 138 of the CGST Rules, 2017, every registered person carrying out movement of goods (which may not be necessary due to supply) worth

New Delhi: The long-term capital gains tax benefits currently available to debt mutual fund investors have been withdrawn. By making this unexpected sudden amendment, the government passed the Finance Bill 2023 in the Lok Sabha today without any discussion. According to this amendment, the investment in debt funds which do not have more than 35 percent investment in equity stocks will now be subject to income tax as per that slab and the gain on that investment will be treated as short term capital gain. A similar tax is levied on bank fixed deposits. Hitherto, investments in debt mutual funds held for more than three years were considered long-term investments and taxed at the rate of 20 per cent with indexation benefit or 10 per cent without indexation benefit. Investors who hold the investment for less than three years are taxed as per their tax slab. At present, debt mutual fund schemes have to invest a minimum of 65 percent of their corpus in debt securities. The amendment in