Market and Business News

(Gujarat News Correspondent) Mumbai, Ta. 17 July 2020, Friday Global markets saw a strengthening amid rising retail sales in the US and China's economic recovery, despite the negative factors contributing to the global economic crisis on the one hand, and the global economic crisis on the other. Funds led by oil and gas stocks rallied over the weekend today on the back of lower crude oil prices, higher monsoon growth in agriculture and better than expected corporate India quarterly results in June 2020. Funds led by oil and gas stocks today rallied amid reports of economic activity picking up despite the number of positive cases surpassing one million amid a steady rise in corona transition in India and now the government's readiness to boost disinvestment, including BPCL. Along with this, the demand for consumer durables increased on the back of higher demand for automobiles and FMCG stocks in anticipation of higher growth in the agricultural sector. Pharma stocks, meanwhil

Mumbai, Ta. 17 July 2020, Friday In the Mumbai oilseeds market, cingulum oil prices rose again today on the back of stagnant stocks, against cottonseed oil and imported palm oil. According to market sources, palm oil traded higher at around Rs 500 to Rs 1,000 a tonne today on increased demand for August delivery. Amidst the current short supply of palm oil, spot prices in the Mumbai market today were hovering between Rs 710 and Rs 715. In Malaysia, palm oil futures rose 5 points today, while there was news of a rise in the price of palm products from થી 10 to ૫ 15.50. Meanwhile, there was news that the central government had reduced the customs exchange rate for importers by 20 paise to 2.10 per dollar, leading to a reduction of Rs 5 to Rs 5 per tonne in effective imports of palm oil and soyoil. Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil rose from Rs 1,2 to Rs 1,400 today, while the price of cottonseed rose by Rs 1,2, 15 kg from Rs 3,050 to Rs 4,050 a

(By commercial representative) Mumbai, Ta. 17 July 2020, Friday Domestic silver led the decline behind the world market. Prices of gold were seen stabilizing, but palladium, a precious metal, saw a rebound. The rupee strengthened against major global currencies as a result of the rally in the stock market. There was a modest decline in crude oil prices. At home, the GST-free price of 10 grams of gold in the Mumbai market, which closed at Rs 4,050 yesterday, was today at Rs 4 to close at Rs 4. At Rs 4.30, gold fell by Rs 5 to close at Rs 305 and close at Rs 215. Prices were quoted three per cent higher with GST. Silver. The price of a kilogram fell from Rs 305 to Rs 2140. Prices with GST were three per cent higher. In the Ahmedabad jewelery market, silver fell by Rs 500 to Rs 200 per kg, while gold by Rs 9.50 per 10 grams was priced at Rs 4,050 and Rs 2,050 per 10 grams. World markets saw an improvement today after seeing a decline in gold yesterday. Yesterday, it was down to ૭૯૬ 1

Mumbai, Ta. 17 July 2020, Friday Holdings of Indian banks in rupee bonds issued by domestic companies have been at an all-time high. The bonds are believed to have been purchased as part of a fundraising effort for the coronavirus, which currently has a wide-ranging adverse effect on the country's financial situation. In May, Indian banks had a combined holdings of Rs 3 trillion in corporate bonds and commercial papers, according to the data. The Reserve Bank of India (RBI) has approved an emergency credit line of ક 20 billion for banks to boost lending to troubled companies. The economy has been affected by various measures taken by the government to curb the coronavirus. Companies with lower ratings are also benefiting from government measures. For the first time in the last four decades, the Reserve Bank expects India's economic growth to be negative for the first time in the current financial year. As banks currently have a huge amount of liquidity, it is likely to see

Mumbai, Ta. 17 July 2020, Friday Coronavirus has not had a significant impact on the country's IT sector, according to the results of the first quarter of the current financial year released by some of the country's top information technology (IT) companies so far. Despite the weak turnover figure, companies have been successful in getting new contracts. Despite a quarterly decline in revenue, top companies like TCS, Wipro and Infosys have managed to get big deals in the first quarter of April-June. There are also indications that vendors are getting stronger with the money that governments of different countries have poured into their countries to boost the economy. From the statements coming from IT companies, it is clear that the impact of Kovid-12 has been sector-centric. Analysts also expect the second quarter of the current financial year to see further improvement in sectors such as banking, financial services and insurance. The last six months of the current financ

Mumbai, Ta. 17 July 2020, Friday As the number of people infected with the coronavirus in the country increases, so does the economic impact, and many states are turning to lockdowns in their various areas. The country's economic growth rate is also expected to slow down as a result of the lockdown in India as well as abroad and fears of a second wave of Corona. Credit rating agency ICRA has slashed the country's economic growth rate from 5.5 per cent in the current financial year 2020-21, which it had earlier projected to decline to 5 per cent. The increase in Corona's case is having an impact on the economy as various states re-impose lockdowns in their areas, ICRA said, citing lower estimates. May-June saw economic recovery in the country, but it has been hampered again. Among the various rating agencies, ICRA is the only one that has posted such a high rating. The impact on the economy of urban areas could be offset by some of the rural recovery. Following good mons

(Gujarat News Correspondent) Mumbai, Ta. 16 July 2020, Thursday Despite the encouraging figures of China's economic growth in the face of ongoing US efforts to isolate China amid the global Corona epidemic, fears of a US-China trade war and the European Central Bank's (ECB) meeting are still lingering in Europe, Asia. Today, the market again showed a tumultuous rise with intra-day deceptive shocks. The erosion in stocks behind Reliance Industries was halted today after the statement of Reliance Industries Chairman Mukesh Ambani at its 7th AGM yesterday that the deal with Saudi Arabia's Aramco was delayed. With Reliance's digital revolution now revealing the complete indigenous Five-G telecom technology by Geo and the allure of IT-software companies' quarterly results, funds led the IT stocks for the second day in a row today. With better results than expected by Infosys yesterday and the attraction of funds in IT stocks, the attraction in pharma, automobile, banki

(By commerce representative), Mumbai, Ta. 16 July 2020, Thursday In the Mumbai oilseeds market, palm oil prices stopped rising today, while other imported edible oils strengthened. Meanwhile, cingulum oil prices remained stagnant, while cottonseed oil prices rose further behind the scenes, market sources said. In the world market, palm oil futures in Malaysia fell 11 to 12 points today, while there was news of a fall in the price of a palm product by 2.50. However, palm oil production fell by 12 to 12 per cent in the first 15 days of July, experts said. Meanwhile, the central government has changed the tariff value used as a benchmark to calculate the import duty on edible oils imported into the country and reduced the tariff value of CPO and palmolin by ૬ 3, while raising the value of soyoil from ૭૨૮ 2 to 2. As a result, there has been a modest reduction in the effective import duty on domestic CPOs and palmolin, while effective imports of soyoil have increased by about Rs 30 per t

(By commercial representative) Mumbai, Ta. 16 July 2020, Thursday At the back of the global market, gold prices were seen stabilizing, while silver prices fell sharply on the back of a lucrative sell-off. Ahmedabad silver fell by Rs 500. The Government of India has drastically increased the tariff value used as a benchmark for levying import duty on gold and silver. The decision by OPEC countries to ease cuts in crude oil production pushed up crude oil prices. The dollar recovered modestly while the euro and pound weakened against the rupee. Silver in the domestic market in the Mumbai market. The price of a kilogram excluding GST, which was Rs 215 yesterday, was closing at Rs 305 today. The GST-free price of 10 grams of gold, which was Rs 305 yesterday, closed at Rs 4,150 today and finally closed at Rs 4,050. Gold was trading at Rs 815, up from Rs 30, to close at Rs 5. Prices with GST were quoted three per cent higher. In the Ahmedabad jewelery market, silver fell by Rs 200 to Rs

Mumbai, Ta. 16 July 2020, Thursday July has been the best month so far in terms of quantity and financial investment in gold under the Sovereign Gold Bond (SGB) scheme. The first four months of the current financial year have seen SGB record sales so far. The scheme has been implemented since November 2017 as part of reducing the current demand for gold in the country. In July, the government has so far sold SGB worth Rs 2,008 crore. This amount equates to a total of 4.15 tons of gold. Most jewelers have not been able to trade specifically in the first three months of the current financial year as a result of the lockdown imposed due to the coronavirus. Due to the closure of jewelers' shops, those who wanted to invest in Safe Haven in Gold had resorted to investing in Gold ETFs and SGBs in the April-June quarter. Gold ETFs had a net inflow of Rs 2,000 crore in the June quarter. Not only that, the first four months of the current financial year have seen the highest sales of SG

(Commercial Representative) Mumbai, Ta. 16 July 2020, Thursday Investments in the Indian capital market through participatory notes (P-notes) have increased to Rs 2.15 crore by the end of June 2020. Which has increased for the third consecutive month. P-Notes are issued by Registered Foreign Portfolio Investors (FPIs) to foreign investors who wish to invest in the Indian stock market but do not wish to register directly. However such investors are required to go through a due diligence process. According to SEBI data, the value of P-note investments in equities, debt, hybrid securities and derivatives in the Indian market stood at Rs 2.17 crore as on June 2020. At the end of May 2020, it was Rs 30,08 crore. This was earlier Rs 3,100 crore at the end of April 2020. At the end of March 2020, the investment had touched a 15-year low of Rs 3,008 crore. Which was at its lowest level since the October 2008 investment level. At that time, P-note investments in the Indian market stood at R

Residential sales hit a decade low in the first six months of 2020 Ahmedabad. 16 July 2020, Thursday During the first half of the calendar year 2020, Ahmedabad saw a significant decline in residential property sales by 3% year-on-year. While office transactions have declined by 12 per cent According to a half-yearly report released today by Knight Frank India, which operates in the country's property market, office transactions in Ahmedabad fell by 15 per cent in H-1 2020 to 0.5 mnsqft. Even in the new office comparations, the city has a reduction of 8% to 7.5 mnsqft. In H-1 2020, the weighted average transactional rental in the market in Ahmedabad has decreased by about .15%. During the period under review, home sales in the Ahmedabad residential market declined by 4 per cent to 2,50 units. While Ahmedabad home launching has come down by 3% to 4.5 units. The city's weighted average price rose 1.5 per cent. During this period, Ahmedabad's micro-markets saw a decline in

Beijing, Ta. 16 July 2020, Thursday In the June quarter, China's economic growth rebounded to 7.50 percent year-on-year. In the previous quarter, China's GDP had shrunk by 2.50 per cent. After the lifting of the lockdown, industrial and trade activities resumed in China, which saw an increase in GDP. China's GDP performance in the March quarter was the worst since the mid-1990s. However, the current June quarter growth rate is the lowest since China began providing quarterly results in the early 1990s. China was the first nation in the world to implement a lockdown after the corona outbreak in December last year. It was also the first country to lift the lockdown in March. Production and other activities in China are returning to normal. However, consumption costs are still low for fear of losing jobs. However, cinemas and other public facilities are still closed and travel restrictions are in place. On the one hand, China is recovering economically from the Corona epi

New Delhi, Thursday 16 July 2020 Civil Aviation Minister Hardip Singh Puri said, "We are assuming that 55-60 per cent of Covid-East domestic flights will be operated in India by Diwali this year. Air France Airlines will operate from July 18 to August 1 in Delhi, Mumbai, Bengaluru. And will operate 28 flights between Paris. Aviation Minister Hardip Singh Puri said on Thursday that India had signed an agreement with the United States and France for bilateral international flights and would also start flights with Germany and Britain in the near future, adding that United Airlines would operate between India and the United States from July 17 to 31. Will operate 18 flights. Aviation Minister Hardip Singh Puri justified the decision to lay off Air India employees, saying that the situation in the civil aviation industry was bad, all airlines were facing difficulties due to Corana, what was the alternative, whether the airlines should be shut down completely or less The work is ex

New Delhi, Thursday 16 July 2020 Prime Minister Narendra Modi is holding a meeting with top officials of the Finance Ministry and the Commerce Ministry to decide on a strategy on how to rescue the Corona-affected country's economy from the crisis. Sources said the two ministries are seeking future strategies in view of the current state of the economy in the presence of top 50 officials. For this, the Prime Minister had a one-and-a-half hour video conference with Narendra Modi, during which the officials shared their views with the Prime Minister through a presentation. -Have a separate meeting. According to sources, the Prime Minister's focus is on reviving the economy, which has been hit hard by the sharp decline in consumer demand due to the Kovid-19 epidemic, which is why it announced a Rs 20.97 lakh crore package in May, one of the largest by the governments. Union Finance Minister Nirmala Sitharaman said the government was assessing the impact of Kovid-19 on the Ind

(Gujarat News Correspondent) Mumbai, Ta. 15 July 2020, Wednesday In contrast to the strength in global markets, Indian stock markets bounced back today. Addressing the first virtual 9th ​​AGM of Reliance Industries held today, focusing on Digital India, self-reliant India, Reliance Industries Chairman and Mukesh Ambani The Sensex-Nifty-based initial rally was washed away by Reliance today on the negative impact of accepting Shakya. Funds tightened the overbought position in stocks as a sign of a relaunch AGM today, as the fight against the Corona epidemic dragged on and the worrisome rise in the number of Corona virus cases around the world again posed a challenge. Of course, behind the quarterly results on Digital India, including Fox and Wipro, funds in IT-Software Services stocks today saw a bigger erosion than an aggressive rally. The Sensex, which had gained 7 points in the previous session, rose by 12.5 points to 20,021.31 and the Nifty spot, which had gained 20 points at the e

(By commerce representative), Mumbai, Ta. 15 July 2020, Wednesday In the Mumbai oil-oil market, imported palm oil today surged to Rs 200 per 10 kg, as against the fall in cingulum oil prices. World market news was showing a rise in edible oils. In the Mumbai market today, the price of 10 kg of palm oil was quoted at Rs 705 to Rs 705. There was a shortage of spot goods, while for the various August deliveries, about 1,000 tonnes more traded today in the range of Rs 5 to Rs 500, market sources said. In Malaysia, palm oil futures rose 4 points in Malaysia today, while palm product prices rose by ૫ 2.50 to ૦૦ 8.00. Meanwhile, in the Mumbai spot market, the price of cingulum oil fell to Rs 1.3 per 10 kg today, while at manufacturing plants it was Rs 1.2 per kg and Rs 1,20 to Rs 1,50 per 15 kg. However, there was an increase in the price of cotton washed from Rs 610 to Rs 715. In the Mumbai market, cottonseed oil rose by Rs 3, soyoil digam by Rs 4 to Rs 200, while refined by Rs 20. Sunf

(By commercial representative) Mumbai, Ta. 15 July 2020, Wednesday Gold and silver rallied in the domestic market behind the world market. Silver has seen a sharp rise compared to gold. Silver jumped by Rs 1,000 to Rs 2,000 in the Ahmedabad market on fresh buying. The dollar weakened while crude oil rose. At home, the GST-free price of 10.50 grams of gold in the Mumbai market, which had closed at Rs 50 yesterday, rose to Rs 319 from Rs 315. Gold rose from Rs 4,115 to Rs 5 and finally closed at Rs 50. Prices were quoted three per cent higher with GST. Silver. The price of a kilogram, which had closed at Rs 315 excluding GST yesterday, jumped to Rs 501 and closed at Rs 315. Prices with GST were quoted three per cent higher. In the Ahmedabad market, silver rose by Rs 1,000 to Rs 500 per kg from yesterday's close. Gold was trading at Rs 30,700 per ten grams at Rs 3.30 while it was closing at Rs 30,600 per ounce. Rising prices in the world market have led to an increase in domestic

Mumbai, Ta. 15 July 2020, Wednesday The relief measures announced by the government as a result of COVID-12 will reduce the borrowing costs of the country's non-banking financial companies (NBFCs) but the ongoing slowdown in the economy will continue to be a challenge for NBFCs. For the second month in a row in June, NBFCs' borrowing costs have come down and the decline has been due to easy liquidity of money in the banking system and not due to trade flexibility. The business environment is still challenging for NBFCs, a report said. India's economic outlook is uncertain and the financial health of the country's NBFCs is likely to deteriorate further. NBFCs are at risk of rising bad debts due to the impact of various measures taken by the coronavirus on the country's trade and the loss of millions of jobs. Moody's Investors warned last month that tensions in the country's NBFCs would be much more serious and deeper than expected. S&P has also rece

(Commercial Representative) Mumbai, Ta. 15 July 2020, Wednesday Mukesh Ambani, Chairman and Managing Director at Reliance Industries Ltd.'s first Virtual 9th ​​Annual General Meeting (AGM) held today, launched a digital revolution in the country under the new India Ka Naya Josh. Was. As a result, the stock price bounced back from a new record high of Rs 15 and at one point lost Rs 1,200. Along with this, the market capitalization of Reliance Industries also fell to Rs 4,000 crore intra-day from Rs 9,000 crore to Rs 11,50,000 crore. That is Rs 2,000 crore less than yesterday's dam. With Mukesh Ambani announcing today that Google, as a new investor in Geo Platforms, has agreed to invest Rs 4.5 crore by buying a 7.5 per cent holding, Reliance has made two important announcements that India's first and Made in India Five-G solution has been developed from scratch. Was. However, the stock traded higher today on the back of a negative impact on investors, including a stateme