Market and Business News

Mumbai, Ta. 18 February 2020, Tuesday With only a few weeks left to harvest Ravi crop, pulses prices in some markets are falling below the support price and farmers are also worried about pressing prices further with the arrival of Ravi crop. At Gadag, Karnataka, chickpea prices are quoting at Rs 5 per quintal, which is about 5% lower than the support price of Rs 5. Similarly, in a market in Madhya Pradesh, the price of mug is about 5 per cent below the support price of Rs. Other pulses such as Tuare, Masur and Adad are also reported to be below the support price. As the cultivation area of ​​pulses has been low in the current year, water seems to be on the back of farmers' expectation of getting better prices. The local trader said, citing some farmers that we are worried about spreading this pattern of prices down to other markets before the harvest of ravi crop. A large number of peas are being smuggled into India by road from Nepal, Myanmar and Bangladesh. There is no pea

Mumbai, Ta. 18 February 2020, Tuesday The Directors of various private limited companies are issuing notices by the Department of Taxation, in which they are being held responsible for the outstanding amount taken from the company and they have to pay this amount. Over the past few weeks, the number of such notices has been on the rise. While the current fiscal year is about to end, the tax collection target has not been achieved, which has led to increasing pressure on taxpayers to complete the target. Directors are demanding a tax on the amount between Rs 8 crore and Rs 20 crore. In some cases directors are also being told to pay this amount in one to two weeks. If the private company does not pay the tax, then the revenue collected by the directors of the recovery company is provided for in section 4 of the Income Tax Act. In the period in which the tax is demanded, it is found that the director on the board of the company is entitled to demand this amount, even if this person

Ahmedabad. 18 February 2020, Tuesday Nifty PSU bank index slipped to a four-year low on bank stocks today amid reports of other adverse reports, including fears of transfer of credit to telecom companies amid credit growth concerns amid the economic downturn. The challenges facing the banking sector remain behind other concerns, including credit growth, which has impeded economic growth in the wake of local - global adverse factors. On the contrary, there has been an increase in the odds of banks being ordered to pay the outstanding payments to AGR over a single month to telecom companies. Following the directive, the fear of converting credit to telecom companies into NPAs was exacerbated when telecom companies were subjected to unorthodox financing. These reports had an adverse impact on bank stocks today. The telecom sector is not only financed by public sector banks. Also financed by the private sector Indoor Bank, Yes Bank, ICICI Bank, Axis Bank. Private bank stocks were also

(Commerce Rep) Mumbai, Ta. 18 February 2020, Tuesday For the purpose of protecting the interest of investors, the capital markets regulator Sebi approved today the SEBI board meeting to tighten its eligibility criteria for investment advisers and to introduce an upper limit for the fees charged by investment advisers. Sebi has decided to ban the use of titles by independent financial advisers or wealth advisors who deal in the distribution of securities. The SEBI Board today approved a number of amendments to the regulations for Investment Advisers, which stated that individual advisors cannot provide distribution services, while units will need to separate advisory and distribution activities at their customer level. These new rules are set out after considering four consultation papers and public comments. For transparency the agreement has to be made between the advisor and the customer with all the terms and conditions. Sebi will also raise eligibility criteria, including netw

(Gujarat News Office) Mumbai, Ta. 18 February 2020, Tuesday Shocking prices were up sharply in the Mumbai jewelery market today. World market news was booming. In the domestic currency market today, the impact of the rupee against various currencies was also seen on the jewelery market. As a result, import of precious metals from domestic imports had risen. And in the wake of this, prices in the jewelery market were up. In the global market, demand for gold in the global markets has plummeted as the US and European stock markets plummeted and bonds and treasury raises. Following this, gold prices in the world market today went up to $ 8 in the evening, after falling $ 1.0 in the previous session. In the global market, gold prices also went up by $ 5 to the dollar in the previous session. The rupee had plummeted in the Mumbai currency market today. The rupee fell in the currency market today, amid a downward trend in the Mumbai stock market. Moody's lowered India's growth ra

Mumbai, Ta. 18 February 2020, Tuesday In the Mumbai oil-seeds market, there was an uptick in prices of singletons and shrimps. Singtel prices were falling behind Saurashtra. While various manufacturing stations in Singdana have shown good export demand for the coast, in addition to the seasonal demand for festive season in the locality before the Mahashivratri locality, the market prices of the Singdana have gone up. Meanwhile, the decline in the prices of imported pallets went ahead today. In the market present in Mumbai, the price of 5 kg was Rs. 1 per liter of Singtel. On the Rajkot side, there was news of Rs 5 to Rs 5 and Rs 5 to Rs 5 and Rs 5 to Rs 5 for Rs 5. Cotton washed today there was a price difference between Rs. In the Mumbai market, the price of cottonseed oil was Rs. Meanwhile, all-India daily average arrivals in Singdana are coming in at around four and a half times against the local and export prices are steadily calling. The prices in the new Mumbai Singdana Bazaa

(Gujarat News Representative) Mumbai, Ta. 18 February 2020, Tuesday According to a Supreme Court order by Vodafone Idea, the crisis between the company's default in AGR's huge payment rules and its request for the company to make partial payments over the weekend, curtailed the flow of foreign investment into the country and worries of banks' new big NPA concerns. Indian emerging markets today in fear of a global economic crisis in crisis There was a major erosion. Banking-finance stocks were offloaded with telecom stocks behind Vodafone Idea today, with critics worried that banks would be sinking heavily and the economy would be hit by the risk of defaulting Vodafone Idea and closing the company. In addition, in the current downturn, the automobile industry was facing a crisis. In addition, FMSEG, Consumer Durables and Metal-Mining stocks were offloading. The Sensex lost 5 points, fell 5 points to 5.7 and ended the Nifty spot 3 level with a 5-point fall of 5.1 points. S

Mumbai, Ta. 17 February 2020, Monday After Vodafone-Idea's offer was rejected by the Supreme Court on Monday evening to deposit Rs 1 crore from the amount paid for the Adjusted Gross Revenue (AGR), Vodafone-Idea is likely to pay a debt default. Vodafone - Idea's failure to pay the AGR and if it ceases to function, is likely to have a profound impact on the Indian economy and the banking system. In addition to the default in paying off large amounts of debt if the company ceases to operate, there is a risk of losing a large number of jobs and causing a rift in customers. In case of default of Voda-Idea, India's fiscal deficit may increase by 8 basis points. The Finance Minister is projecting the fiscal deficit for the current fiscal year at 8.5 percent and the GDP for next year at 8 percent, with the budget presented for the fiscal year 1-3. Of the total debt of the company, it stands at Rs 2.5 trillion, of which Rs 1 billion is to be paid to the government and Rs 2 bi

In the current year, India's economic growth rate will fall to 8.5 percent In the current year, India's economic growth rate will fall to 8.5 percent New delhi date. 17 February 2020, Monday Global rating agency Moody's has projected India's economic growth rate to decline to 8.5 percent in calendar year 1. Earlier, the economic growth rate was estimated at 8.5 per cent. In a review of how the outbreak of coronavirus could affect the global economy, Moody's said that the potential for stabilizing the global economic situation in the sixth has been reduced by the impact of the virus. While the virus is still spreading, it is still too early to estimate how it will affect China and the world. India's economy has been declining rapidly for the past two years. India's economic growth rate in the third quarter of the year stood at 8.5 percent. Data with higher frequencies, such as PMI, indicate that the economy may have stabilized. The current quarter may

Mumbai, Ta. 17 February 2020, Monday In India, it is likely that in the next fortnight, goods such as medicine, auto parts, mobile phones and insecticides will be lacking due to trade activities stalled in China due to coronavirus. Stating that the situation in China is getting serious, a government official added that the Indian government does not have enough time to increase the supply of essential goods from other countries. While the crisis has caused the Indian government to rethink its supply chain, the government currently has no roadmap on how to address the proposed shortage. In such a situation, India has the opportunity to increase its production capacity but in the short term it will not be possible, said the official. Apart from the supply pull, the government is also considering how to ease import related processes. Measures will be taken to exempt the import of some goods from the documentation so that imports can be expedited, Finance Minister Nirmala Sitaram sai

(Commerce Rep) Mumbai, Ta. 17 February 2020, Monday The Securities and Exchange Board of India (SEBI) has decided to allow live testing on selected products of new products, services and business models by Market Participants. By giving some concessions to the SEBI rules and guidelines in the beginning, all SEBI registered units-entities will be allowed to participate in such regulatory sandboxes by testing live, placing a limited number of valid customers there for a fixed period of new products' processes, services and business models. At a board meeting held at SEBI today, SEBI decided to allow the entity under test solutions to regulate this regulatory sandbox, even for activities that are not registered. SEBI will provide limited registration for this type of testing. While fintech startups and other entities not already regulated by SEBI may be allowed at a later stage, there will be no exemptions or relaxations in the current investor protection framework, KYC and anti-

(Gujarat News Office) Mumbai, Ta. 17 February 2020, Monday Gold prices in the Mumbai jewelery market remained on a slow decline due to rising prices. The world market news showed a narrow fluctuation in headlines. The dollar was soft against the rupee in the domestic currency market. The rupee was raised in the currency market today as the British pound and the euro fell. In the global market today, gold prices went up by $ 5 a barrel and $ 1.3 in the low. In the open currency market today, the dollar closed at Rs 1.8, an open high of Rs 1.8, and then closed at Rs. Today's opening up in dollar prices was like a boom. And at the end of the day prices were down nine paise. The British pound price fell 5 paise to close at Rs 1.8 to Rs 5 today. While the euro prices were down by 8 paise to Rs. Meanwhile, gold prices in the Mumbai jewelery market today closed at Rs 5, down by 5, without a GST of 5 grams, and closed at Rs 6 with a gain of 5.7. However, with GST, prices were up 5%. M

Mumbai, Ta. 17 February 2020, Monday Petrol prices today went down in the Mumbai oil-seeds market. The price of palmetta was Rs 5 per kg of hawala resale and Rs 6 for JNPT. The refinery direct delivery businesses went from around 1 to 3 tonnes in Rs. Meanwhile, prices of crude palm oil CPO Kandla remained at Rs. While CPO futures prices were at Rs.5, the low was Rs. While soyatel futures were trading lower at Rs 5, the low was 0.5 in the evening. Meanwhile, Palmet's total exports from Malaysia were reported to be 8.5 percent in the first six days of this month. China was worried about the import of all poultry products from the United States. At present, however, there was news of Pelotel's futures surging at 6,3,3,3p plus. While there, the prices of the palm product were five dollars higher. Meanwhile, soybean arrivals in Madhya Pradesh today registered around 6,000 times the prices present at the establishments and from Rs 5 to Rs 6 for plant delivery. While there was ne

(Gujarat News Representative) Mumbai, Ta. 17 February 2020, Monday China's Investor Responds to China's Appeal for Helping the World, China's Big Bang on the Economic Front After more than 3 people were infected with the virus and more than 5 people worldwide were affected by the virus. European markets were bullish today, strengthening the currency yuan. But as expected, funds in Indian stock markets have begun a large correction in the index-based market today, with extensive offloading of small, mid-cap stocks. With the Indian Crisis likely to have a negative impact on India along with other countries as the Indian economy is going through a challenging time now, international rating agency Moody's estimates lowering its GDP growth forecast for India for the year 1 to 8.5 and delaying the economic recovery. Had chosen to be relaxed. In the oil, gas, pharmaceuticals, healthcare and capital goods stocks, the Sensex fell 5 points to close at 5.2, and the Nifty spot cl

New Delhi, 17 February 2020 Monday Corona is impacting the world economy and its impact on the Indian economy as well. Moody's has lowered its GDP growth forecast for this year. This is a setback for the Modi government. Rating agency Moody's Investors Service has lowered India's GDP growth projections for the year 2020. Moody's has now reduced this estimate from 6.6 percent to 5.4 percent, while GDP growth estimates have been reduced from 6.7 percent to 5.8 percent in 2021. It is worth mentioning here that the outbreak of the Corona virus in China has affected the entire world economy. More than 142 people have died of coronavirus (Covid-19) in China on Sunday. This brings the total death toll to 1775. Moody's said the slowdown in the global economy could slow India's GDP growth due to the outbreak of the novel corona virus (COVID-19). He said that any kind of reform in India must be considered less than expected. However, the agency has said that the re

Mumbai, Ta. 15 February 2020, Saturday The concerns of the banks that have financed the telecom companies have now increased following the Supreme Court's ruling regarding the adjusted gross revenue (AGR) that telecom companies have to pay to the Department of Telecommunications (DOT). It is estimated that telecom companies have to pay banks Rs 5.5 trillion. There is a risk that banks' NPAs will rise. The telecom companies missed yesterday's deadline for AGR payments and the company's fate has also worsened when companies, especially Vodafone Idea, are not in a position to pay AGR. Vodafone Idea chairman Kumar Mangalam Birla has already made it clear that if the government does not provide any relief, it may be time to close the company, in which case the credit of the banks will be put at risk, ”said a banker. Vodafone Idea pays Rs 5 crore for AGR and Airtel is expected to pay Rs 5 crore. Telecom companies will have to pay Dot Rs 1.8 trillion by AGR by March 8. S

Mumbai, Ta. 15 February 2020, Saturday Six months after the merger of ten public sector banks in the country and the announcement of their conversion into four banks, the central government has become cautious on the issue. The deadline for the merger is now two and a half months away. The Prime Minister wants to know the consequences of the Bank of Baroda merger, so a final decision on the ten banks merger will be taken only after that, a government official said. The government's notification for the merger has also been deferred, which has resulted in the board of banks currently announcing the merger. The Finance Ministry intends to appear before the Prime Minister before finalizing the final decision on the merger of the ten banks. The Bank of Baroda's results for the December quarter are worrying. In the third quarter, it has net loss of Rs 5 crore. The bank has shown a huge loss as the NPA has to make additional provision. The Union Cabinet has not approved the merg

(Gujarat News Office) Mumbai, Ta. 15 February 2020, Saturday Bullion market was closed officially on Saturday in the Mumbai jewelery market. However, gold and silver gained momentum behind the closed market. World market news showed a surge in prices. There were reports of gold fund raising in the world market amid fears that a deadly virus infestation in China would adversely affect the global economy. In the global market, gold prices were trading at $ 1.8 to $ 5 per bounce on the high end of the week. In the global market, gold prices traded higher by $ 1.3 per ounce and lastly stayed at $ 1.8 to $ 8. In the jewelery market, prices were calling higher today as the domestic metals backed by the global market, as the precious metal import cost went up. In the closed currency market today, the dollar was trading against the rupee at Rs. Meanwhile, in the Mumbai jewelery market today, gold prices remained flat at Rs 5 per 5 grams without GST while the price of Rs 5 was Rs 5 per Rs.

Mumbai, Ta. 15 February 2020, Saturday The decline in the prices of various imported edible oils in the Mumbai oil market today led by Palmetal. There was a new demand. Pamtel prices were going down to Rs 5 / kg. According to the latest news from Delhi, the government has issued licenses to resume import of Palmetal from Indonesia after the recent resumption of import of palmetal from Nepal in India. Thus, domestic importers were now showing the possibility of import of refined palm oil. Meanwhile, US-Chicago soybean futures overnight in the world market were soft at 5 to 5 points while soybean futures remained at 5 to 5 points minus. Against soybean futures there were reports of a fall of 5 to 5 points at night. New York Cotton Futures Overnight was 5 to 5 points soft. In America, while the US remained soft, forecasters in Malaysia predicted a soft opening on Monday. The Mumbai market was soft today. New demand was slow. In the Mumbai market, there was a price of Rs 5 per liter of

(Gujarat News Representative) Mumbai, Ta. 15 February 2020, Saturday After summoning the index-based bracelet on the day of the Central Budget, the big fundraisers rallied the Sensex by rallying 3 points in the Sensex to close the Sensex and reclaim the Sensex by giving a positive interpretation of the budget. Negative factors in the storm of this OneSide boom were the storm surge designed to better balance the budget in the battle of Jedd, despite the seriousness of the impact of the Chinese corona virus on the global economy. The bull's kite has been slaughtered and released last week. With the index-based bullishness, the fund has started to storm the Nifty as expected, while offloading small, mid-cap stocks, many investors have disarmed the market beyond the understanding of the players. So in view of this startling storm of fund-raisers, caution will need to be taken in the coming weeks as well. Until the first fortnight of March, small, mid-cap stocks are likely to play ha