Market and Business News

Mumbai: Infosys founder Narayan Murthy on one hand is calling the youth of the country to work for seventeen hours a week, while on the other hand, a movement has started to increase the salary by fifteen percent in addition to the five-day week in the country's banks. According to the information, public sector banks and private banks of the country are thinking of increasing the wages of their employees. The financial condition of the country's banks has improved drastically recently and while the banks have been making significant profits, it is known that there has been a proposal from the bank employee associations to increase the salaries of the employees. Some banks have even started making provisions for this, as seen from their September quarter results. The Finance Ministry is also keeping an eye on the ongoing talks between the employee unions and the banks. Keeping in mind that bank employees are a big vote bank in the country, even the government does not want

MUMBAI: Indian stock markets have seen an expected big correction-decline in the last week as players shed massively overbought positions in the name of the Israel-Palestine war. Futures and options (F&O) gambling has shown a recovery over the weekend, with players addicted to speculating on options. In the global markets, uncertainty over the Israeli-Palestinian conflict and US bond yields reaching a high level of five percent for the first time since 2007, with fears about China's stimulus measures being effective, there has been a global softening in caution. While the results of global tech giant Amazon, Intel-inspired companies are good, on the one hand, the New York stock market continues to erode against a bullish release rally in the Nasdaq. European markets also turned softer over the weekend. Amidst global economic uncertainty, the U.S. Federal Reserve's two-day meeting followed by the interest rate decision on November 1, 2023, the Bank of Japan's interest r

MUMBAI: Indian stock markets have seen an expected big correction-decline in the last week as players shed massively overbought positions in the name of the Israel-Palestine war. Futures and options (F&O) gambling has shown a recovery over the weekend, with players addicted to speculating on options. In the global markets, uncertainty over the Israeli-Palestinian conflict and US bond yields reaching a high level of five percent for the first time since 2007, with fears about China's stimulus measures being effective, there has been a global softening in caution. While the results of global tech giant Amazon, Intel-inspired companies are good, on the one hand, the New York stock market continues to erode against a bullish release rally in the Nasdaq. European markets also turned softer over the weekend. Amidst global economic uncertainty, the U.S. Federal Reserve's two-day meeting followed by the interest rate decision on November 1, 2023, the Bank of Japan's interest r

Diwali 2023 Muhurat Trading : Muhurat trading will be done for one hour on BSE and NSE on Diwali day. The trading will begin on November 12 at 6 pm and the market will close at 7.15 pm, with 15 minutes reserved for the pre-market session. Why is Muhurta trading done? Every year BSE and NSE start Muhurta trading on the occasion of Diwali, which is open for just one hour. Doing business on Diwali is considered auspicious. In the Hindu calendar, Diwali is also considered to be the start of the New Year, it is also said that doing business on Diwali brings prosperity and happiness. This year Diwali is on Sunday and normally the stock market is closed on this day, but this year due to Diwali the market will be open for one hour for Muhurta trading. The stock market will be closed on November 14 The stock exchanges have informed that on November 12, trading in equity, commodity derivatives, currency derivatives, futures and options as well as securities lending will be for one hour in t

Mukesh Ambani received death threat: Mukesh Ambani, one of the industrialists of the country, has been threatened with death once again. By emailing the threat, this time not 20 crores but 200 crores (Mukesh Ambani 200 crores) has demanded a ransom of Rs. Again the email came from the same account According to the information, this time also the death threat to Mukesh Ambani has been sent through the same email from which a ransom of 20 crores was demanded from him. He has written in the email that till now you have not replied to our email so 200 crores of Rs. have to give If it is not done, it should be noted that the death warrant has been signed. The threat was given earlier The person who made the earlier threat also sent an email on October 27. In the message sent to the email id of Mukesh Ambani's company, it was written that 'IF you don't give us 20 crore rupees, we will kill you, we have the best shooters in India'. That means if you don't give us 20

Mukesh Ambani receives death threat via E-mail: Mukesh Ambani, Asia's richest businessman and chairman owner of Reliance Industries, has received a death threat. The person making the threat demanded Rs 20 crore from Mukesh Ambani through an email yesterday and said that if the money is not given, he will have to lose his life. Mukesh Ambani received death threats In the threatening email, an unidentified person wrote, "If you don't pay us 20 crore rupees, we will kill you. We have the best shooters in India." Based on the complaint of Mukesh Ambani's security in-charge after receiving this threat, a case has been registered under IPC sections 387 and 506 (2) against this unidentified person at the Gamdevi police station in Mumbai.

MUMBAI: Funds stepped up short-covering over the weekend after a universally large correction in stocks as foreign funds largely eased long-standing overbought positions in Indian stock markets amid global negative factors, with major operators on the downside. In the Israel-Hamas war, attacks on Israel's Gaza Strip increased, and the risk of the war spreading to other countries in the Middle East increased, despite softening in European and US stock markets and crude oil prices rebounded in Indian stock markets today, with funds short-covering and expectations of corporate results, announcements in heavyweight stocks. Levali saw a quick recovery. Sensex jumped 634.65 points to close at 63782.80 and Nifty 50 spot index rose 190 points to close at 19047.25 led by banking stocks and funds led by State Bank of India, Axis Bank and Reliance Industries, HCL Technology, Infosys, Tata Motors, Nestlé India. . Out of the total 3799 scrips traded in BSE, the number of gainers was 2801 and t

MUMBAI: Gold prices in the Mumbai jewelery market today were on the decline again after rising. There was also a retreat in silver prices. There was a trend of falling prices in the world market. Behind the global market, even at home, jewelry markets saw a surge in sellers and fewer buyers. The price of gold per ounce in the world market was at a low of 1982 to 1983 from 1977 to 1979 to 1980 dollars. Behind gold, global silver prices were also down from 22.93 to 22.94 per ounce at 22.68 to 22.74 to 22.75 dollars. At home today, the price of silver in the Ahmedabad jewelery market broke Rs.1000 per kg to Rs.72500 while Ahmedabad gold price rose by Rs.200 to Rs.99.50 to Rs.62600 per kg and 99.90 to Rs.62800 per 10 grams. The price of platinum in the world market was 913 to 914 from 899 to 900 to 903 to 904 dollars per ounce. Palladium prices increased from 1112 to 1113 per ounce to 1145 to 1141 to 1142 dollars. Meanwhile, global copper prices rose by 1.40 to 1.41 per cent today. Crud

AHMEDABAD: Despite rising US bond yields and hawkish comments from the Federal Reserve, listed global funds infused $1.3 billion into the Indian equity market in September. Listed funds invested $1.3 billion in September, led by non-ETF inflows of $933 million, said Kotak Institutional Equities, which tracks inflows. Funds dedicated to India invested $2.2 billion, led by non-ETF inflows of $1.7 billion. Global emerging market funds withdrew $574 million, led by non-ETFs at $455 million. The increase in India's weighting comes against the backdrop of strong inflows by listed funds in domestic markets. Kotak Institutional said in a note that Asia Fund allocation to India (excluding Japan) increased from 17 percent in August to 17.8 percent in September. At the same time, the allocation of global emerging markets funds to the Indian market rose to 16.5 percent in September from 15.8 percent in August. Asia (excluding Japan) non-ETF fund allocation to India increased from 17.4 per

Mumbai: Capital markets regulator Securities and Exchange Board of India (SEBI) has announced a decision to extend the ban on trading in the commodity derivatives segment of futures in various agricultural commodities till December 2023. It may be mentioned that, earlier on 19, December 2021, SEBI ordered the suspension of trading in derivative contracts in various commodities for one year in the stock exchanges having commodity derivatives segment. Including rice (except Basmati), wheat, gram, mustard seed and its derivatives (ingredients thereof), soybean and its derivatives (ingredients), crude palm oil and mung bean. SEBI issued an order dated December 20, 2021 to the stock markets extending this ban for another year till December 20, 2023. Now again with the order issued today, it has been decided to extend this ban for one more year till December 2024.

MUMBAI: Rating agencies have got an upgrade once again expressing confidence in India's solid economic growth path. JP Morgan has upgraded India's rating to 'overweight'. Earlier, leading global brokerages like Morgan Stanley, CLSA and Nomura also upgraded India's rating. JP Morgan cited several factors behind the rating upgrade, including positive general election season, strong growth in nominal GDP in emerging markets and the development of broader bond markets. Moreover, risk premium is expected to decrease due to these factors. JP Morgan believes that rising long-term interest rates in the US and a strengthening dollar continue to pose challenges to emerging market equities, with rising interest rates and slowing growth as a result. A sustained positive environment for emerging markets can only emerge once the US recession stops and the rate hike and interest rate hike cycle is complete. JP Morgan brokerage house has included Sun Pharmaceutical Industries L

MUMBAI: Banks will have to allow depositors to withdraw money before maturity in every term deposit up to Rs 1 crore, said a notification by the Reserve Bank of India (RBI). The Reserve Bank has decided to increase the minimum limit of non-callable fixed deposits from Rs 15 lakh to Rs 1 crore. Thus, the facility of early withdrawal will be provided on all term deposits accepted from individuals of Rs one crore or below. The Reserve Bank had earlier allowed higher interest rates on deposits that could not be withdrawn before maturity. In case of rising interest rates, banks are encouraged to offer higher interest rates on non-breakable deposits before maturity. Non-callable deposits cannot be split in half by the depositor when the interest rate rises. The depositor gets moderately high interest on illiquid or non-callable deposits. Banks believe that Reserve Bank has increased the minimum size of non-callable deposits keeping in mind the interests of small investors. This new stand

RBI Rules for Loan Recovery: The Reserve Bank of India is bringing strict rules to prevent calls from agents coming at any time for loan recovery. As per RBI's proposed rule, if a customer defaults on loan installments, he cannot be called earlier than 8 am and after 7 pm for loan recovery. Outsourcing does not reduce the liability of financial institutions According to a report in the Economic Times, the RBI has said that even after outsourcing by a financial institution, its responsibilities are not fulfilled. It is also equally responsible towards the customers. Along with this, in this draft, RBI has talked about making rules for direct sales agents, direct marketing agents and recovery agents. This rule should be applicable to all three, public, private and NBFC. The debtor cannot be threatened To ensure the rights of consumers, RBI has directed financial institutions that recovery agents should not threaten or resort to coercion at the time of recovery. Apart from this,

Prime Minister Narendra Modi inaugurated 100 new 5G labs at select institutions across the country during the 7th edition of the India Mobile Congress in Delhi. On this occasion, PM Modi said that the coming future will be very different. PM Modi mentions 6G... 5G is expanding in the country. We are at number 43 in mobile broadband speed. 4G also expanded at its best and now we are moving towards 6G to be the leader. Meanwhile, PM Modi took a dig at the Congress and said that the old government was once going into a hang mode... then the people changed it. Mukesh Ambani and Aditya Birla were also present in this event. A look at previous governments Taking a dig at the Congress, PM Modi said that we have become one of the top 3 startup ecosystems in the world. A century has been scored in the field of unicorns. In 2014 we have... Do you know why you are saying that? This is not a date but a change. From 100 startups in India before 2014, it has now crossed 1 lakh. If you think bac

Mumbai, 27th October-2023, Friday Shareholders have approved the inclusion of three members of the Ambani family, Isha, Akash and Anant Ambani, in the board of Reliance Industries. The shareholders have approved the appointment of the three siblings as non-executive directors of the company. In a regulatory filing, the company told the BSE Stock Exchange that the proposal to appoint the three siblings as non-executive directors on the board of Reliance Industries has been approved with an overwhelming majority. How many votes of the shareholders did the three brothers get? Reliance Industries said in an exchange filing that the resolution was passed with a majority on October 26, 2023. Isha Ambani got a total of 98.21 percent of the votes, while Akash Ambani got 98.06 percent and Anant Ambani got a total of 92.67 percent of the votes. The board has already given approval In the AGM of Reliance Industries held on August 28-2022, Chairman Mukesh Ambani announced that Isha, Akash, A

RBI: The Reserve Bank of India has told lenders, financial institutions and credit bureaus that they have to resolve customer complaints within 30 days. If this is not done then a fine of 100 rupees per day will have to be paid. RBI has directed Credit Institutions (CI) and Credit Information Company (CIC) to submit compensation framework for updating and correction of credit information. RBI has asked to prepare it in 6 months. Even if the CI submits the updated credit information to the CIC within 21 days, a penalty of Rs 100 per day will be payable if the complaint is not resolved within 30 days. CIC maintains credit information of borrowers, corporates and small businesses and can be accessed by banks at the time of granting loans or when required. RBI acted on customer complaints The Reserve Bank of India received several complaints from CIC regarding non-updating the status of borrowers. After this RBI has asked to prepare the compensation structure. Consumers complained tha

Share Market Today | Thursday proved to be a heavy day for the stock market today. The morning started with the opening bell and the market was bearish throughout the day. Due to the fallout from the ongoing war between Israel and Hamas, the Indian stock market also continued to witness a sell-off. Talking about the 6 days of trading, this time the investors in the market have already made a loss of around 22 lakh crores so far. How is the condition of Sensex-Nifty? At the end of the trading session in Sensex today, there was a crash of 900.91 points. With this decrease of 1.41 percent, the Sensex has now reached the level of 63148.15 points. When we talk about the Nifty 50 index (Nifty), it was hit by 264.90 points which was about 1.39 percent. Along with this, Nifty has also fallen to the level of 18857.25. While the Bank Nifty fell by 1.29 percent to 551.85 points which has now reached the level of 42280.15. Which areas have been affected? Auto, Financial Services, Metal, Priva

Mumbai: The prices of gold and silver rose in the Mumbai jewelery market today. As the world market rose, the import cost at home rose. The price of gold in the world market was 1974 to 1975 high from 1993 to 1994 to 1982 to 1983 dollars per ounce. The global dollar index rose but as the bond yield declined from high, funds continued to buy gold in the world market. Behind gold, the global silver price also increased from 22.77 per ounce to 23.14 to 22.93 to 22.94 dollars. Meanwhile, at home, silver prices rose by Rs.1,000 to Rs.73,500 per kg in the Ahmedabad market today, while Ahmedabad gold prices increased by Rs.100 to Rs.99.50 to Rs.62,400 per 10 grams and Rs.62,600 to 99.90 per kg. Meanwhile, platinum prices in the global market were at a high of 896 to 897 to $914 to 915 to $913 to $914 an ounce while palladium prices fell from $1135 to $1136 to $1112 to $1113 an ounce. Global copper prices were 0.31 percent lower today. Despite the announcement of new stimulus packages by the

- Foreign Investors Rs. 7700 crore sale - Out of investor's assets Rs. Massive erosion of 3.18 lakh crores: Nifty plunged 265 points to 18,857 - Sensex tumbles 3280 points in last six days Small-Midcap index gaps up to 7 percent - Rs.3 lakh crores lost in Sensex by 600 points in the first 15 minutes AHMEDABAD: On the back of other adverse reports including rising tensions in the Middle East, the bearish sentiment remained behind the sell-off in the stock market for the second day in a row today. A gap of 900 points was recorded in BSE Sensex and 265 points in NSE Nifty today due to selling pressure. Today, more than Rs. 3.18 lakh crore was eroded. Report of Israel's Hamas War Gains Heightened U.S. Reports on bond yields, mixed corporate results for the September quarter, sell-off by foreign investors and rising crude prices have weighed on the market. In the global markets, Asian markets fell to 11-month lows and the retreat of European markets also had an impact on the

New Delhi, 26 October-2023, Thursday The central government has decided to reduce the export price of Basmati Rice to USD 950 per tonne. Earlier it was priced at 1200 USD. According to the government, overseas shipments are being affected due to high prices, due to which this decision has been taken. It may be mentioned that the government decided to allow the export of Basmati rice at less than USD 1200 per tonne following the apprehension of illegal shipment of non-Basmati rice under the guise of premium Basmati rice. In August, the price was increased to 1200 dollars per tonne To maintain the availability of rice in the country, the government has fixed the minimum export price of basmati at USD 1200 per tonne in August this year. Exporters cannot export below this price. Rice is the main kharif crop. Planting operations for the current season have been completed. But when the new crop of rice starts coming in from January, exporters are relieved as the government cuts the expor