Market and Business News

New Delhi, 18 January 2021 Monday Foreign portfolio investors (FPIs) invested Rs 14,866 crore in Indian markets in the first fortnight of January, in just 15 days. The attraction of FPIs to Indian markets has increased as companies are expected to deliver good third quarter results. According to depository data, FPI has raised Rs. Invested Rs 18,490 crore. Moreover, it has pulled Rs 3,624 crore from the debt or bond market. Their net investment stood at Rs 14,866 crore. According to stock market experts, the outlook for FPIs for emerging markets has been positive on the back of good third quarter results. In addition, the decline in Kovid-19 transition cases in the country has also attracted FPIs to invest in the Indian market. A market expert said that earlier investors used to invest in large stocks of choice, but after increasing their valuation, they are now investing in stocks of smaller companies.

Seoul, Monday, January 18, 2021 J Y Lee, the successor to South Korean giant electronics company Samsung, has been sentenced by a court to two and a half years in prison in a 2016 corruption case. The Seoul High Court has convicted Lee of bribing then-President Park Geun-hye and one of his close associates to obtain government support for the merger of two Samsung companies, which helped him increase his control over the Samsung Group. Prosecutors described him as a victim of harassment by the authorities and said the 2015 deal was similar to what a normal businessman would do. Lee's lawyer lamented the court's decision, saying the gist of the case was that a former president had abused his power to infringe on the freedom and property rights of a private company, he had said nothing to appeal, and Samsung had not issued a statement. , Lee is currently vice president of the world's largest computer chip company and smartphone maker.

New York, Ta. 18 January 2021, Monday Amazon CEO Jeff Bezos has once again become the richest man in the world. He beat Tesla and SpaceX CEO Alan Musk to number one. South African-born engineer Alan Musk topped the list on January 18, stripping Jeff Bezos of the crown. According to the latest index of Forbes Real Time Billionaire (1.38 minutes) Jeff Bezosh has become the world's richest man with a fortune of 18 181.5 billion. Alan Musk is now the second richest person in the world. His total networth has been 181.50. Reliance Industries chairman Mukesh Ambani is the 10th richest person in the world and the sixth richest person in Asia with a fortune of 76 76 billion. Networth is updated once a day His fortune rose એક 8.69 billion in one day, according to Bloomberg's January 13 listing in the index. In second place was Amazon CEO Jeff Bezos with 183 billion. The index is updated daily in a public holding on the Real Time Billionaire Rankings by Forbes. A person whose asset

New Delhi, 18 January 2021 Monday Bitcoin, the world's largest cryptocurrency, and Tesla, Alan Musk's electric car company, have been the most talked about in Corona's time. That cryptocurrency is just a bubble, and the reason for the rise in Tesla stocks is small investors. Rajan said that Bitcoin is a classical bubble, which has no value, it is an asset that cannot even be used for payment, as it is really difficult, as my friend Austan Goolsbee says that even at a Bitcoin conference they do not take Bitcoin payments. , Even though the price has reached 40 thousand dollars, and even though people are buying bitcoin, they think its price will still go up, this is bubbly thinking. Similarly, Alan Musk's company Tesla, the world's richest man, has risen more than 700 percent in the last 12 months, making it the most valuable company in the world. Regarding Tesla, Rajan said that it is appealing to small investors to make an immediate profit by investing in the

New Delhi, 18 January 2021 Monday Even its one-time Arab allies are turning their backs on Pakistan, which is facing a recession, urging Saudi Arabia to pay off its 3 billion debt immediately, and Imran Khan's government is preparing to repay the last installment of લો 1 billion in loans to Saudi Arabia. With another crisis looming over Pakistan, the UAE has also demanded the return of મ્બર 3 billion in economic aid to Pakistan in December 2018. The Pakistani newspaper The Express Tribune quoted sources in the Pakistani finance ministry as saying that the UAE had also not indicated whether it could increase its debt to Pakistan by 1 1 billion, not only because it is part of a 3 3 billion package but has a repayment date of January 24. A senior Pakistani finance ministry official said that if the UAE facility was not repaid, it would be considered that the debt would be increased for another year, although the Pakistani government feared that the UAE could also demand payment of

New Delhi, 17 January 2021 Sunday Lakshmi Vilas Bank's merger with Development Bank of Singapore has been challenged in the Delhi High Court, the petition said, adding that the bank's shareholders have been misled, the Center and the Reserve Bank of India have failed to protect the interests of shareholders. The merger has been challenged in the Delhi High Court through a petition filed before a bench of Chief Justice DN Patel and Justice Jyoti Singh on January 13, but has been adjourned till February 19. The bench was informed that the Reserve Bank has filed an application in the High Court requesting it to transfer all the petitions against the merger scheme to the Mumbai High Court. The petition has been filed in the Delhi High Court by Sudhir Kathpalia, who is also a shareholder of Lakshmi Vilas Bank, which has lost 20,000 shares in the company. Sudhir Kathpalia has appealed to repeal the provisions of the scheme, under which DBS is not required to give any shares in

New Delhi, 17 January 2021 Sunday Although all types of tax collection have declined due to the Corona epidemic, excise duty collection in taxes has increased by 48% during the current financial year, due to record growth in excise duty collection on diesel and petrol, according to data obtained by CGA during April-November 2020. Duty collection increased from Rs 1,32,899 crore to Rs 1,96,342 crore during the period of 2019. Despite the decline in diesel sales by 10 million tonnes during the first eight months of the current financial year, diesel is the most widely used fuel in India. According to the Ministry of Petroleum, diesel sales during April-November 2020 fell to 44.9 million tonnes from 55.40 million tonnes a year ago, while petrol sales fell to 174 million tonnes from 2.04 million tonnes a year ago. It may be mentioned here that petroleum products and natural gas have been kept out of GST, GST system has been implemented in the country since 2017, and the government levi

New Delhi, 17 January 2021 Sunday Arun Kumar, a leading economist in the country, believes that the economy is not recovering faster than the government claims, adding that the sharp decline in GDP during the current financial year has completely outpaced the budget forecast and the budget needs to be revised. "The country's economic growth is not improving as fast as the government is showing, the situation in the unorganized sector has not improved, and some parts of the service sector are still not emerging," he said. However, the lockdown in April-May produced not only essentials, but also the agricultural sector. Arun Kumar, a former professor of economics at Jawaharlal Nehru University, said the documents provided by the government for the April-June and July-December quarters also said the figure would improve later, adding that India's fiscal deficit would be higher than last year. . He also predicted that the state's fiscal deficit would remain high

(Gujarat News Correspondent) Mumbai, Ta. Saturday, January 16, 2021 Indian markets, which have been setting new bullish records, seem to have finally begun the major correction needed to end the bullishness last week and keep the market healthy. The overbought position is now starting to soften in the record boom set by experts on one side. The world is still plagued by the corona epidemic, and with good progress in the development of the corona vaccine in response to concerns about a new transition to European countries, the vaccination program is now being implemented worldwide, with the market record now declining. The boom has also begun to take a break. Along with the Corona vaccination program, the central government's focus now is on getting the economic growth on track and preparing the central budget. Amidst the big expectation in the budget this time around it is possible that a budget incentive may be introduced with a number of incentives, but this budget as well will

Mumbai, Ta. Saturday, January 16, 2021 The Cotton Corporation of India (CCI) has almost stopped buying quality raw cotton as the price of cotton is quoted above the support price. Whatever little buying is going on is happening in rural areas, CCI sources said. The price of cotton is currently hovering around Rs 2,000 per quintal while the support price has been fixed at Rs 4 for good quality. So far, 210 lakh bales have been collected and it is estimated that farmers have 15-150 lakh bales. CCI has so far completed the procurement of 3 lakh bales in the current season and plans to procure another 8 to 10 lakh bales, CCI sources said. At the beginning of the season, the target was to buy 100 to 15 lakh bales. As the economy emerges from the effects of the corona, so does the demand for cotton. Textile mills have also started functioning as per the norms. India's cotton is in high demand in countries like Bangladesh, China and Vietnam.

Mumbai, Ta. Saturday, January 16, 2021 The new year has seen a steady increase in the country's forex reserves. In the week ended January 9, the forex reserves rose by ૭૫ 2.6 billion to a new high of ૮ 4.04 billion. Earlier, in the week ended January 1, the reserves had increased by ૪ 2.7 billion. Foreign currency assets, the main component of the forex reserves, rose by ૫ 120 million to 21.2 billion. The country's gold reserves rose by 2.6 billion to ૫૯ 2.3 billion, according to the Reserve Bank. The Reserve Bank of India (RBI) has said that the forex reserves are likely to cross ડો 200 billion soon, given the influx of foreign investors in the country's capital market.

(Gujarat News Office), Mumbai, Ta. Saturday, January 16, 2021 Prices of various domestic and imported edible oils declined in the Mumbai Oilseeds market today. New demand was slow. World market news was showing softness. There were indications that domestic manufacturers were also under price pressure. Meanwhile, the government has changed the tariff value used as a benchmark to calculate the import duty on various edible oils imported into the country and has also changed the effective import duty. Such tariff value of crude palm oil CPO has gone up from ૯૯૨ 5 to ૪૯ 107 while palmolin has gone up from ૨૭ 105 to ૬૭ 103 as against the soybean oil price of ૭૨ 105 to ૭૨ 115. As a result, the effective duty on domestic CPO has been increased by about Rs 12 per tonne. On the other hand, palm oil has risen by Rs 15 and soyoil by Rs 20, market insiders said. Discussions were also heard in the market today that the tariff value was increased more than the market expected. Meanwhile, the wo

Mumbai, Ta. Saturday, January 16, 2021 After the initial reforms in FY 203, the impact of the Corona on the Indian economy will continue until FY 203. After a strong recovery in the economy in FY 203, it is likely to slow down from FY 203 to FY 203, according to ratings agency Fitch. GDP growth is expected to be 2.50 per cent between 205 and 205. A weak financial sector will keep India's GDP even lower than it was before Coro, according to a report by Fitch. Low investment rates will continue to be a barrier to GDP growth. The recession in India due to Corona is very serious compared to other countries in the world. The picture is one of strong lockdown and limited fiscal support. India's economy is currently in a recovery phase and will be supported with the introduction of vaccinations. India's economic growth rate will be 11 per cent in the April-March 2018 financial year, while the current financial year from April 2020 to March 2021 will see a 2.50 per cent declin

(Gujarat News Office), Mumbai, Ta. Saturday, January 16, 2021 MUMBAI: The bullion market in the gold and silver market was officially closed today due to Saturday, but the closed market saw a fall in prices behind the world market, market sources said. World gold prices were reported to be hovering around 15 an ounce from ૮૪૯ 15 an ounce over the weekend. Behind gold, global silver also fell from 7.5 an ounce to 8.30 an ounce and last traded at ૭૬ 4.5 to ૭૭ 7.5 an ounce. Meanwhile, there were reports that the government had changed the tariff value used as a benchmark to calculate the import duty on gold and silver imported into the country. Such a tariff value has been fixed at ૮ 215 per kg in silver, while the tariff value of gold has been fixed at ૫૯૩ 205 per 10 grams. This has led to a reduction in the effective import duty on gold and silver imported into the country, market insiders said. Gold traded higher on Friday night as the dollar index rose against a basket of various c

-The Policy Commission also protested - Also got the second largest Mumbai airport in the country New Delhi Dated 15th January 2021 Friday The Adani Group also acquired the country's second largest Mumbai airport. The Airports Authority of India had on January 12 given the green signal to hand over Mumbai Airport to Adani. The Adani Group had bid in 2019. At the time, the policy commission and the finance ministry had explicitly opposed giving any company six airports at a time. But despite the opposition of the two, Adani was given six airports. Narendra Modi's NDA government had invited bids for Ahmedabad, Lucknow, Mangalore, Jaipur, Guwahati and Thiruvananthapuram airports under its largest privatization program. The Centre's Public Private Partnership Appraisal Committee discussed the proposal with the Ministry of Civil Aviation on December 11, 2018. A note sent by the finance ministry on the occasion made it clear that six airports are highly capital intensive.

(Gujarat News Correspondent) Mumbai, Ta. 12 January 2021, Tuesday Foreign portfolio investors (FPIs) kept the Sensex-Nifty at a new historic high today, giving enough intra-day correction as stocks continued to buy in anticipation of rapid economic growth in India. With the Sensex moving towards 20,000, the Nifty crossed the 1600 level. Taking seriously the earlier statement of Finance Minister Nirmala Sitharaman that the Modi government has not seen the next Union Budget in the last 100 years, investors from all over the country, including foreign funds, continue to buy stocks. The market expects mega stimulus to be unveiled in this budget and a number of incentives for local industries. With the Supreme Court today granting relief to farmers who have been protesting against agrarian reforms for several days, the government today issued an interim injunction restraining them from implementing three major reforms, signaling an immediate peace in the matter. Reliance Industries, Banki

(Gujarat News Office), Mumbai, Ta. 12 January 2021, Tuesday In the Mumbai oilseeds market, imported palm oil and soyoil prices declined today while sunflower oil was quiet. Meanwhile, cingulum oil was sustained while cottonseed oil continued to decline. In the Mumbai spot market, the price of 10 kg of imported palm oil fell by Rs 105 while that of crude palm oil CPO Kandla fell by Rs 5 to Rs 6. New trades were slow. Soyoil prices were at Rs 1,150 for digam and Rs 115 for refined, while sunflower was priced at Rs 120 and Rs 150 for refined. Mustard was quoted at Rs. The price of cingulum oil was Rs 1,210 per 10 kg, while cottonseed oil was at Rs 1,150 per kg, while the prices of cingulum oil were Rs 15 to Rs 120 per 10 kg, Rs 210 per 15 kg and Rs 105 per kg of washed cotton. Peanut prices ranged from Rs 50 to Rs 1,150 per bushel. In the futures market, CPO futures were trading at Rs 70 and soyoil futures at Rs 115.50 this evening. In Malaysia, meanwhile, palm oil futures fell by 30

New delhi date. 12 January 2021, Tuesday In the first week of January, exports from the country grew by 12.5 per cent. On the other hand, imports in the country also increased by 1.1 per cent, the Commerce Ministry said. Exports from the country have been disrupted due to the Koro epidemic and lockdown. It had improved by 3 per cent in September after a drop in exports in the month following the lockdown. Exports also declined in the next two weeks. After the concessions received at various stages of the unlock, the economic activity is booming and a favorable picture is emerging on the export front. In addition, the significant growth in the first week of the new year has created encouraging optimism on the export front. Exports of engineering goods have increased by more than 20 per cent during the period under review. So exports of petroleum products have increased by 12.5 per cent. However, exports to labor-intensive sectors are still disrupted. For example, garment exports d

(By commercial representative) Mumbai, Ta. 12 January 2021, Tuesday Behind the world market, domestic gold and silver prices continued to decline and prices were in favor of recovery amid weakness. The dollar closed lower on gains in the stock market. Crude oil saw a recovery. Bitcoin saw a lot of chaos. At home, the gold price in the Mumbai market was Rs 2.50 per ten grams, excluding GST. Gold was up by Rs 5 to close at Rs 5. Prices with GST were quoted three per cent higher. Silver. The price of one kg excluding GST was closing at Rs. Prices with GST were quoted three per cent higher. In the Ahmedabad market, gold rose by Rs 100 to Rs 21,100 per ten grams at Rs 2.50 and Rs 21,200 to Rs 9.50 per ten grams. Silver rose by Rs 200 to Rs 500 per kg. World gold was trading at ૮૪૮ 19 an ounce, ૮૪૮ 14 an ounce, silver at ૯૭ 4.5 an ounce, and platinum at ૬૮ 105, up from ૫ 1,050. Palladium was trading at ૨૩૯ 61 an ounce, up from 50. In global markets, the dollar index fell to 70.5. In t

Mumbai, Ta. 12 January 2021, Tuesday In the run-up to the Union Budget on February 1, SBI economists have urged the government to refrain from imposing new taxes and focus on finding ways to settle previous cases faster to raise resources. In view of the epidemic and its aftermath, the government has to provide additional expenditure of Rs 2.50 lakh crore in the health sector budget. In the current financial year, the government has allocated only one per cent of GDP to the healthcare sector. No new taxes should be imposed in the budget. "We expect the budget for the next financial year to be a relief budget on the tax front," said a report released by SBI. The government's sincere efforts to permanently settle tax cases could be a game changer. Looking at the data available till the financial year 2017, it seems that various cases covering an amount of Rs 2.50 lakh crore are under controversy. Among the cases in dispute are Rs 3.04 lakh crore related to corporate t