Market and Business News

New Delhi, 21 December 2020 Monday The Indian economy, which has been badly affected by the Corona virus epidemic, is now on the path to recovery, a report said, adding that the Indian economy will grow by 10 per cent from 2021-22, Deloitte's Voice of Asia reported. As can be seen, the PMI index is at its highest level since 2008. The Corona virus-hit Indian economy contracted by 23.9 per cent in the April-June quarter of the current financial year, while GDP growth was 7.5 per cent lower in the second quarter of July-September compared to the same period a year ago. The report said that with good sales of motor cars, increase in finished steel production and increasing consumption of diesel, the increase in GST revenue indicates that the state of the economy is improving very fast after the unlock. Sun demand and festive season demand have also helped improve the state of the economy, the report said, adding that maintaining growth would be a challenge if cases of corona vir

New Delhi, 21 December 2020 Monday After a one-sided rally in the Indian stock market on Monday, the stock market crashed sharply, the market is slowly declining, the Sensex fell 1406 to 45,553.96 points at the end of trading while the Nifty fell 432.15 points to close at 13,328.40, the Bank Nifty also closed at 125,88 points. The sudden slump after the stock market hit new highs for six consecutive days has worried investors, if there are two main reasons behind the slump. According to market experts, lockdowns have been announced in many places, including London, following the rise of new cases of corona in Britain. In addition, Europe and some countries in the world have imposed travel bans on Britain. Cases of cholera have also increased in Asia, with most of the cases related to Thailand's seafood market. Another important reason is that large foreign investors (FPIs) have been investing in the Indian stock market for more than two months now. The sudden sale of FPIs ha

New Delhi, 21 December 2020 Monday The Indian aviation sector is one of the fastest growing industries in the country during the Corona era, the aviation industry has stagnated in other parts of the world, and India's aviation sector is expected to overtake Britain in terms of passenger market in 2024. In the financial year 2019-20, passenger traffic in India was 34.10 crore, in the last 4 years it has increased from CAGR of 11.30 per cent, meanwhile domestic passenger traffic was 27.45 crore, domestic traffic grew at an annual rate of 12.91 per cent, international passenger traffic from India was 6.65 crore. In terms of freight traffic, it has reached 3.3 million tonnes in 2019-20 at an annual rate of 5.32 per cent in the last four years. The Government of India is making continuous efforts to increase air traffic, with a total of 103 airports operating in India by March 2019. There are plans to increase the number to 200 by FY2039-40. Thus the number of airplanes could incr

New delhi date. 19 December 2020, Saturday Even in the midst of the Corona epidemic and the peasant movement, the country is witnessing a boom in rabi cultivation. For the weekend ending December 15, rabi cultivation in the country stood at 5.5 lakh hectares, up five per cent from a year ago. During the same period last year, the area under sowing was 2.16 lakh hectares. Wheat is the main rabi crop and Punjab is the main producer of wheat. Among the farmers' agitation in Punjab, wheat sowing has increased by 12.5 lakh hectares as compared to last year, covering an area of ​​3.01 lakh hectares, according to Agriculture Ministry data. Due to the increase in chickpea sowing, the total area under pulses has also increased to 120.5 lakh hectares. The area under oilseeds has increased by 4.31 lakh hectares to 4.5 lakh hectares. The cultivation of rye and mustard in oilseeds is seen to be high. Due to high soil moisture and favorable weather conditions, oilseeds are being harvested i

(Gujarat News Correspondent) Mumbai, Ta. 19 December 2020, Saturday Despite Corona's transition to a major country in the world, Corona's concerns remain in India, but positive reports on Corona vaccine development and economic activity in anticipation of a quick stabilization of the situation in 2021, foreign funds are seeing huge opportunities for economic growth in India. Have been buyers. Of course the market has now become an overbought. Going beyond the fundamentals, the share prices of many companies have reached overvaluation. But how long will this storm of funds, which has sustained a record-breaking storm of boom and bust in the fight against stubbornness, not last long? Such reasonable questions are being asked. In this era of overvaluation, the alert male is always reminded that he is always happy. As the year 2020 draws to a close, the game of valuation of funds is likely to come to an end at any moment, so every surge in stocks will be conducive to accumulating

(Gujarat News Office), Mumbai, Ta. 19 December 2020, Saturday In the Mumbai oilseeds market, cingulum oil prices rose further today, while cottonseed oil prices continued to decline. Prices of imported edible oils remained strong. As per the instructions received from the Mumbai market, imported palm oil was traded at Rs 1,050 per 10 kg for delivery from January 10 to 20. The spot price of palm oil also jumped to the level of Rs 1,000 today. However, there was fresh demand in the spot market today and palm oil traded at just 20 tonnes at hawala resell. Meanwhile, soybean futures rose another 12 points in overnight trade in US agricultural markets. There were reports of disruptions to ports in Argentina following a labor strike. According to ITS sources, palm oil exports from Malaysia have increased by about 15 to 20 per cent so far in December. Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil was quoted at Rs 1,50 and cottonseed oil at Rs 1,050, while

(Gujarat News Office), Mumbai, Ta. 19 December 2020, Saturday In the Mumbai gold-silver market, the bullion market remained closed on Saturday due to Saturday, but in the closed market, prices in the private sector were heading higher. World market news was also showing a slow decline from the rising headlines. However, in the Ahmedabad jewelery market, silver rose further by Rs 200 per kg to Rs 2,000 today, while Ahmedabad gold prices remained calm. Meanwhile, there were indications that global crude oil prices had jumped to, 6 a barrel, while the dollar index against a basket of various currencies fell to a two-and-a-half-year low. Meanwhile, world gold prices fell from ૮૮૮ 15 an ounce to ૮૮૮ 161 an ounce over the weekend, while silver finally fell from ૨૫ 2.7 an ounce to ૨૫ 4.31 an ounce. Platinum was trading at ૪૨ 105, down from ૫ 1,050. However, the price of palladium rose from ૨૩૪૨ 6 an ounce to ૨૩૭ 60 and was last reported at ૨૩૬૩ 8. The rally was driven by short supply in p

London, Saturday 19 December 2020 A group of Indian banks, led by State Bank of India, has again approached the London High Court against fugitive businessman Vijay Mallya in connection with a case involving a loan given to the defunct Kingfisher Airlines and the recovery of its interest. Michael Briggs, chief justice of the bench hearing the case on company matters, heard the case by video conferencing on Friday, while retired Indian High Court judges from Mallya and a group of banks argued for and against the legal status of both. Both parties have argued for and against the bankruptcy law against Mallya in Britain, where banks have claimed the right to relinquish their Indian properties in order to recover money from Mallya in the UK. The money is gone. Speaking on behalf of the banks, Barrister Marcia Schardmia said, "As a business entity, banks have the right to decide on the security they hold. He opposed the arguments put forward by retired Judge Deepak Verma Mallya th

Mumbai, Ta. 18 December 2020, Friday The world has blamed China for the spread of the corona and called for a cut in economic ties with China, but if we rely on China's own figures, foreign companies' investment in China in the current year has risen to 9 per cent by November last year. Between January and November this year, China received more than ૨૯ 12 billion in foreign direct investment, according to figures released by its Commerce Ministry. Despite the talk of some countries looking to reduce their dependence on China alone due to the spread of coronavirus and trade disputes, China is seeing an increase in foreign investment. To attract foreign investment, China has relaxed its investment policy, which is likely to increase foreign investment. Among the world's major economies, China will probably be the only country whose economic growth rate will be positive at the end of the current year. In times of global epidemics, China has been the only country to have

New delhi date. 18 December 2020, Friday Due to the limited availability of natural resources in the country, providing food (food grains) to all will be a major challenge in the near future in view of the growing population of the country. In these circumstances, maintaining soil-soil and water quality is essential for maintaining food security, said the Indian Council of Agriculture Research. Due to increasing urbanization, industrialization, development of road and railway system, the cultivable land in the country is continuously declining. On the other side of the increase in population, farmland and production are declining. On the other hand, the ground water level is constantly declining due to various adversities. Especially in the northwestern states of Punjab, Haryana, Uttar Pradesh and Bihar, more than 60 per cent of the land is irrigated. But the capacity of the soil is also declining as water is constantly being drawn from the ground here. Thus, the decline in water a

Mumbai, Ta. 18 December 2020, Friday Garment exports from Tirupur, the country's largest knitwear manufacturing hub, are expected to grow by 15 per cent in the December quarter. This growth figure is the best in the current year, sources in the Tirupur Exporters Association said. In the December quarter, we expect exports to grow by 10 per cent in terms of value and 15 per cent in terms of volume. Given the way demand has increased, exports are likely to surpass last year's figure of Rs 2,000 crore. The first two months of the current financial year were washed out due to the lockdown. He said the increase in exports was due to the boycott of Chinese goods and the increase in Christmas purchases. In the current quarter, exports were up 3 per cent in October and 1 per cent in November and are on the rise in December, said an official of the Apparel Export Promotion Council. Workers who have fled their homes due to the lockdown are returning to work. Due to Christmas, in add

Mumbai, Ta. 18 December 2020, Friday The 8% increase in advance tax payments for the December quarter indicates a sharp rise in direct tax collection. Companies with higher advance tax payments are optimistic about their revenue growth, an analyst said. The unprecedented rise in the stock market has also led to an increase in advance tax payments. Corporate advance tax is Rs 1.10 trillion while Rs 31,000 crore is paid by individual taxpayers as advance tax. The advance tax paid by the companies has increased by 30 per cent on an annual basis, according to the data. Advance tax paid by corporates and individual taxpayers in the December quarter has increased by 3 per cent. Strong recovery in advance tax indicates a sharp improvement in economic performance in the third quarter of the current financial year. For the December quarter, Rs 1.31 trillion was received in advance tax, sources in the income tax department said. In addition to corporate income, the rise in the stock market

(By commercial representative) Mumbai, Ta. 18 December 2020, Friday Gold and silver continued to strengthen at home behind the world market. The pound was broken over the weekend without a settlement on the Brexit issue. Crude oil prices have seen a nine-month high. The new drug of unemployment in the US was seen at a three-month high. In the domestic market, gold in the Mumbai market rose by Rs 305 to Rs 305 per 10 grams excluding GST. The price of 10.50 ten grams increased from Rs. Prices were quoted three per cent higher with GST. Silver. The price of one kg rose by Rs. 6 to Rs. Prices were quoted three per cent higher with GST. Ahmedabad gold rose by Rs 100 to Rs 31,600 at Rs 2.50 and Rs 21,600 per ten grams at Rs 2.50. Silver.2 The price of one kg was Rs.500. World gold prices rose from ૮૭૮ 15 an ounce to ૮૮૮ 16 an ounce and silver from 4.5 an ounce to ૨૫ 2.3 an ounce. Platinum fell from ૫૭ 105 to ૫ 1,050, while palladium was trading at ૨૩૪૨ 8 an ounce. Gold and silver are sh

(Gujarat News Office), Mumbai, Ta. 18 December 2020, Friday The Mumbai Oilseeds market today witnessed a general uptrend in prices of various domestic as well as imported edible oils. Palm oil prices jumped to Rs 1,000 per 10 kg at present. Manufacturing establishments as well as world market news boomers were found. However, new demand was high in the Mumbai market today and hawala resell in imported palm oil traded at just Rs 80-100 a tonne at Rs 8,000 to Rs 1,000. Soybean prices in the world market were in the news after reaching a 7-year high amid a new rise. Soybean prices have soared in the wake of a labor strike in Argentina that has cut off supplies to world markets, according to world market analysts. In Malaysia, palm oil prices rose further by ડો 2.50 to ૫ 2.50 today amid short supply, as palm oil futures were up 30 points. In the Mumbai spot market, the price of cingulum oil rose by Rs 1,50 per 10 kg and cottonseed oil by Rs 105 per 10 kg, while the prices of cingulum

(Gujarat News Correspondent) Mumbai, Ta. 18 December 2020, Friday In the weekend, index-based early-day trading saw banking-finance, automobile and oil-gas stocks make profit-booking and intra-day correction in the market, while IT-software frontline-heavyweights stocks rose sharply. According to IT giant Accenture's fourth quarter results for FY2030, the company has raised its revenue growth forecast for FY 2021 from 6 to 8 per cent to 6 to 8 per cent and new bookings for the end-November quarter to 4 per cent. Funds including ITC TCS, Infosys, HCL Technology rallied aggressively and finally FMCG stocks and healthcare-pharmaceuticals stocks rose on the back of a rally in consumer durables stocks. The points were rising to close at a new all-time high of 19,0.08. The US dollar had lost four paise to close at Rs 4.5 against the rupee. Sensex banking, auto stocks soften to 30, IT stocks rise 30 to 2,50 Trading started softly today. IndusInd Bank, HDFC Bank, Kotak Mahindra Bank, B

-Earned even more than Mukesh Ambani this year -Solar energy project increased wealth New delhi date. Friday 18 December 2020 Gautam Adani, one of the country's leading industrialists, has seen his wealth increase six-fold this year. In the year 2020, his earnings were even higher than Mukesh Ambani's. His fortune increased sixfold after a છ 6 billion solar energy project. The deal was expected to make Adani one of the world's leading companies in the green energy sector. During the April-June quarter of 2020, Adani Green Energy won the bid for 8 gigawatts of solar energy. With the deal, the company was moving towards its target of 25 gigawatts of renewable energy capacity by 2025. Both Adani's shares and Adani's net worth rose sharply after the 6 billion deal. Shares of Adani Green have soared in the last one year. On January 1, 2020, Adani Green was priced at Rs 175 per share. Today, the share price is Rs 1,200. Adani's market capitalization crossed Rs

- is a company owned by Anil Ambani -Five companies showed interest in taking Mumbai Ta. Friday 18 December 2020 Anil Ambani's Reliance Home Finance Company was reportedly being sold with a debt of billions of rupees. Five companies were said to be interested in buying the company. The five companies that have shown interest in buying the company include Asset Re-Construction Company India Limited and Otham Investment & Infra Limited. Debt-ridden Reliance Capital's branch is to sell some of Reliance Home Capital's properties. Some companies had bid to buy it. An expression of interest was sought for Reliance Capital in August this year. This process reveals which companies were interested in buying the property. Bids are invited after this process is completed. Reliance is heavily indebted to Home Finance. The company had to repay a debt of Rs 4,778 crore by September this year. As of October 31, 2020, Reliance Capital had a debt of Rs 20,000 crore on its head.

(Gujarat News Correspondent) Mumbai, Ta. Thursday, December 17, 2020 The Sensex-Nifty-based record-breaking rally continued as stocks of foreign funds-FII-FPIs continued to buy steadily. Funds continued to flow in anticipation of major stimulus in the forthcoming central budget as the central government continues to push for economic reforms. One-sided funds remained attractive in stocks amid positive factors such as the economy re-emerging and economic activity booming amid ongoing preparations in the world, including India, for corona vaccination with continued concern to the world of corona transition. Funds maintained a big rally in finance frontline stocks while IT-software services, cement, capital goods frontline stocks rallied. Along with this, the market saw a strengthening of the Reliance Industries as the correction stalled. The Sensex touched a new low of 8,000 today, hitting a new high of 9.5 points, hitting a new high of 9,50.5 and the Nifty spot hitting a new high of 1

(Gujarat News Office), Mumbai, Ta. Thursday, December 17, 2020 In the Mumbai oilseeds market, cingulum oil prices remained calm today, while cottonseed oil prices were showing a slow decline behind the stations. Imported edible oils continued to hit the headlines. However, fresh demand for imported palm oil in the Mumbai spot market remained sluggish today, with barely 50 to 100 tonnes traded at Rs 2 to Rs 5 per 10 kg in hawala resell, market sources said. Meanwhile, palm oil futures in Malaysia rose 19 points today, while palm product prices fell by ડો 5. According to reports from Ukraine, the government has indicated that it will reduce the value-added tax on sunflower seeds, rye and soybeans. As the labor strike continued in Argentina, there were indications that prices of various agricultural commodities were rising. According to world market experts, Indian importers have traded deals for importing 5,000 tonnes of sunflower oil from Ukraine for ડો 1,200 for December shipments.

Mumbai, Ta. Thursday, December 17, 2020 After being extremely volatile in the last 24 hours, the cryptocurrency Bitcoin hit a new record high of over ડો 200 per unit. Bitcoin has rebounded as a result of increased interest from institutional investors and steps being taken by the world's central banks to increase liquidity in their markets. Bitcoin prices have soared as the US Federal Reserve maintains a liberal monetary policy, market sources said. Other cryptocurrencies also saw an increase behind Bitcoin. The current week has seen a twenty percent increase in Bitcoin. Bitcoin prices have risen more than 150 per cent this year following a resurgence. Along with Bitcoin, other cryptocurrencies such as Ether, Stellar, XRP also saw an increase on various exchanges. Bitcoin was eroded in 2016 after hitting an all-time high of ૯૬૬૬ 15. The growing interest in Bitcoin as an investment tool in the Corona era is evident from the price direction. Hedge funds are seen betting in this