Market and Business News

Mumbai: After showing strong performance in the financial year 2021, the current financial year is witnessing a significant increase in the average daily turnover in the country's stock markets. In the first six months of the current financial year, the daily turnover of the stock market has increased to Rs 4.5 lakh crore. Which is more than double that of last financial year. The daily turnover, which stood at Rs 13.5 lakh crore in FY2030, has risen by 9 per cent to Rs 4.5 lakh crore in 2031, according to the data. The rise in the stock market is due to favorable liquidity conditions at home and in international markets, optimism about the recovery in the economy, and increased participation of retail investors, according to an ICRA report. The performance of ICRA rated bank brokerages has also increased significantly. The earnings of brokerage firms have risen sharply in the last two years with the rise in trading in the stock markets. However, bank brokerages are facing comp

MUMBAI: The use of Unified Payments Interface (UPI) across the country has increased 50-fold in the last four years, according to a report prepared by the State Bank of India. The country's economic growth rate would have been much higher if Korona had not spread. Users in India are increasingly using platforms like UPI, which do not require POS machines or authentication. The report also notes that transactions through UPI have increased 40-fold in the last four years. The use of UPI for payments has been increasing since 2012. Debit card usage has stabilized during this period, indicating that users are opting for UPI mode. On the other hand, despite a sharp rise in purchases during the Diwali week, the currency in circulation stood at Rs 200 crore. Consumers bought Rs 1.5 trillion in Diwali this year. Which was the highest since 2014. Currency in circulation, which had fallen to 7.50 per cent of GDP after the ban, is on the rise again. One of the reasons behind this may be

Consumers rush to get personal and purchase loans AHMEDABAD: The September quarter saw an increase in loans from non-banking finance companies in the country, but most of the loans were for consumer consumption or consumer loans. According to data from the Finance Industries Development Council, growth in loans is still modest as business or industry activity picks up. In the quarter ended September 2021, NBFCs in the country accounted for a total of Rs. 5,12,9 crore, an increase of 7.5 per cent over June. However, the second quarter was affected by the devastating second wave of Covid, while the year 2020 also had its effect, so compared to the normal year of the second quarter of 2017, the total lending is reduced. Total lending to NBFCs stood at Rs 4,8,606 crore in September 2016, a decline of 11.5 per cent this year. In Gujarat, as in the rest of the country, lending has increased by 20.5 per cent to Rs 12,500 crore in September 2021 against the second June 2021. However, there

(Via our commercial representative) MUMBAI: Behind the world market, gold and silver stocks advanced in Mumbai today. Crude oil prices have retreated below ડો 50 a barrel. The rupee weakened marginally against the dollar. Palladium, another precious metal behind gold and silver, was also on the upside. In the Mumbai local gold and silver market, the price of gold, excluding GST at Rs 2.50 per ten grams, which had closed at Rs 305 last weekend, rose to Rs 319 today. Prices with GST were quoted three per cent higher. The price of gold, which was Rs 2,005 last Friday, closed at Rs 71 today. Prices with GST were set at three per cent higher. Silver. The price of one kg was Rs. In the Ahmedabad market, gold was priced at Rs 30,600 per ten grams and Rs 30,700 per 6.50. Silver.2 Rs 200 per kg remained stable. World gold was trading at ૮૬૫ 18 an ounce and silver at ૨૨ 6.5 an ounce. Platinum was quoted at ૮ 1,081 while palladium was quoted near ડો 5,100 with 203 per ounce. The dollar index

MUMBAI: Imported palm oil traded at Rs 115 to Rs 1,150 per 10 kg in the Mumbai Oilseeds Market today. Palm oil prices rose in the world market. When soyoil prices fell. At home, however, soybean futures rose six per cent today, signaling a bullish circuit. The futures had risen to Rs. Soyoil futures rose by Rs 10 per 10 kg today, while crude palm oil CPO futures rose by Rs 5. Castor futures, however, declined by Rs 5 to Rs 5 per kg. In the Mumbai spot market today, the price of 10 kg of cingulum oil was Rs 120 and cottonseed oil was Rs 15. On the Saurashtra side, there were indications that the price of cingulum oil was Rs.150 and Rs.1550 for 15 kg and Rs.1200 for cotton washed. Meanwhile, palm oil was trading at Rs 115 and crude palm oil CPO Kandla was trading at Rs 1,150 in the Mumbai market. In the Mumbai market today, soyoil was quoted at Rs 115 for digam and Rs 15 for refined, while sunflower was quoted at Rs 1,150 and refined for Rs 150. Meanwhile, palm oil futures in Malays

(Gujarat News Correspondent) MUMBAI: Corona transition has resurfaced in many European countries and inflation is a global concern, raising concerns for the global economy. . Keeping the Sensex, Nifty-based market in the positive zone at the end of the day, the funds today underwent extensive offloading in small, mid-cap and cash-cash segment stocks. The funds today boosted the Sensex, Nifty-based market by boosting the selection of stocks of IT-Software Services, Technology, Consumer Durables, FMCG and Healthcare-Pharmaceuticals companies. Index-based initial rebound was offset by modest profit-booking in metal-mining stocks and modest profit-selling in power-capital goods and banking stocks. At the close of trading, the Sensex was up 4.06 points at 30,412.71 and the Nifty spot was up 3.50 points at 12,106.5. The US dollar had gained five paise to Rs 4.5 against the rupee today. Brent crude fell ૬ 1.15 a barrel to. 21.01 an ounce and Nymex crude was down 3 cents to close at ૮૩ 4.5 a

MUMBAI: The Reserve Bank of India (RBI) has clarified the rules for upgrading an account classified as an NPA. The central bank clarified that the lender should classify NPAs as 'standard' assets only when the full amount of interest and principal is paid by the borrower. It was alleged against the Reserve Bank that some lending institutions had classified NPAs as standard assets only when interest was paid and only partial arrears were paid. Explaining the matter, the RBI said that the interest and principal of an account classified as NPA should be upgraded and placed in the category of standard assets only when it is paid by the borrower. The Reserve Bank has directed the lenders to provide information in the loan agreement such as actual date of repayment of loan, repayment period, different details of principal and interest and date of classification as SMA / NPA. As per the existing rules, if the repayment is not made on the due date, the amount is referred by the ba

MUMBAI: The Mumbai Bullion Market was closed at home on Saturday but gold and silver prices closed higher over the weekend in the global market, indicating a strong undertone in the Mumbai market. In Ahmedabad, gold and silver prices rose again today after yesterday's decline. Gold had touched the level of Rs 31,000. Crude oil prices stabilized over the weekend. Behind the world market, the price of gold in Ahmedabad rose by Rs. During the last full week, gold rose by Rs 1,201 per ten grams in the Mumbai market, while silver rose by Rs 4 per kg on a weekly basis. At the end of the week, gold was trading at ૮૬૪ 18.50 an ounce, while silver jumped to ૩૪ 4.5 an ounce. Platinum rose to 107.50 an ounce, while palladium rose to ૨ 5,111.5 an ounce. Crude oil Nymex was at ૭૯ 20.8 a barrel over the weekend, while Brent was flat at ૭ 2.15.

MUMBAI: Global rating agency Goldman Sachs has downgraded the Indian stock market. Goldman Sachs has downgraded the rating of Indian equity markets by one place to 'market weight' and attributed the downgrade to the historic rally in the stock market this year. Compared to the 0.3 per cent decline in the MSCI Emerging Markets Index, Indian stocks have risen by almost 4 per cent in 2021 due to easy lending policy, rapid vaccination and re-opening of the economy. Many other brokerage firms such as Morgan Stanley, Nomura and UBS have also been forced to downgrade their ratings in the Indian stock market in view of the sharp rise in valuation of the Indian stock market. "We believe that the risk-reward for Indian equity markets is less attractive at current levels," Goldman Sachs said in a report. Potential strong cyclical and beneficial reforms next year are positive on the current high valuation, although the market is facing other challenges such as higher crude oi

(Gujarat News Correspondent) MUMBAI: Uncertainty is rife in global markets amid rising global inflation, with Corona raising its head again and other countries in Europe, including China, and the US signaling a retreat in stimulus. Corporate India, too, is worried about the current state of inflation and has started building bridges before the floods, giving a clear signal that if inflation does not come down in the coming days, it will have an impact on corporate results. With this situation, Indian stock markets, including the former deputy governor of the Reserve Bank of India, have started signaling investors to be cautious, stating that stocks are overvalued and that the real picture of the economy is exaggerating. But the government and the Reserve Bank of India seem to be trying to maintain their policy of maintaining bullish sentiment in a Yankee manner, keeping inflation in check and keeping everything in check. Given the fact that the majority of global experts, economists,

Mumbai: During the festive season, e-commerce companies in India, including Amazon and Flipkart, have seen blockbuster festive season sales of about ૨ 2.5 billion (approximately Rs 5,000 crore), an increase of 6 per cent year-on-year. According to analysts, more people are flocking to online shopping this year than last year after the Corona epidemic. Prior to the Corona epidemic, the festive season saw sales of ૫ 3 billion during the festive season in 2016 and ૫ 4.5 billion in 2020. According to a report on the consulting firm's e-commerce festive season, the year 2021 saw the largest ever festive sales of brands through online channels in India with a gross merchandise value (GMV) of 4.5 billion. Of course, experts predicted વેચાણ 4.5 billion in sales during the festive season. Over the last five years, India has been witnessing rapid growth in online sales during festivals "Mobile is becoming the best-selling product category during this time, with more than one-third o

Mumbai: In the midst of rising prices, air travel can also become expensive. With the cost of aviation turbine fuel (ATF) increasing by 200 per cent, airlines may once again raise fares. The Union Civil Aviation Minister has hinted at a price hike. In India, 11% excise duty is levied on ATFs and state governments levy VAT ranging from 1% to 20%. Union Civil Aviation Minister Jyotiraditya Scindia said in a statement that if the airfare limit for domestic air travel is not increased, the operations of airlines in India will be hampered. Arguing behind the price hike, the minister said that due to global factors, fuel prices have risen due to shortage of fuel. In the last eight months, the price of crude oil in the international market has risen from ૨૨ 5 a barrel to a record high of ૮૫ 3 a barrel. He further said that Air Fuel (ATF) accounts for about 50 per cent of the total expenditure of the country's airlines. Looking at the ATF's share of inflation figures and costs, it

Mumbai: Auto industries are facing difficulties in manufacturing and selling vehicles due to shortage of semiconductors. According to figures released by the Society of Indian Automobile Manufacturers (SIAM), total sales of passenger vehicles, including cars and vans, in October fell by 9 per cent year-on-year to 2,8,8 units. Production of car-van, two- and three-wheeler as well as quadricycle vehicles fell by 8% to 4,13,8 units in October due to shortage of semiconductors. In the total passenger vehicle segment, car sales in October fell by 5 per cent to 1,08,8 units and utility vehicles by 4 per cent to 1,12,114 units. According to SIAM data, total sales of all types of two-wheelers fell by 9 per cent year-on-year to 19,121 units in October. Sales of scooters fell by 21 per cent to 2,8,161 units and sales of motorcycles fell by 9 per cent to 10,12,8 units. The three-wheeler sales grew as the economy grew, thanks to last year's low-base effect. In October, three-wheeler sales

(By commerce representative) MUMBAI: Domestic gold and silver prices were softening compared to yesterday as global markets retreated and the dollar depreciated. The current week has seen the biggest weekly rise in gold and silver in the last six months. In the Mumbai market, the price of 10 grams of gold, excluding GST, which was Rs 215 yesterday, has come down to Rs 305 today. The price of Rs 8.50 which was closed at Rs 71 yesterday was down and closed at 2009. Silver. The price of Rs. In Ahmedabad, gold prices fell by Rs 200 as compared to yesterday. The price of 10.50 ten grams closed at Rs. Silver remained steady at Rs 2,000 per kg. Gold and silver prices have seen the highest growth in the last six months in the last week. Inflation in the US hit a 21-year high, with investors looking at gold as a hedge. In global markets, gold fell by ૮૫૭ 15 an ounce to ૮૫૩ 15 an ounce and silver by 2.09 an ounce. The dollar had lost 5 paise to Rs 6.5. New York crude was trading at ૨ 70.05 a

(Gujarat News Office) MUMBAI: About 800-90 tonnes of refinery direct delivery was traded in the Mumbai oilseeds market today on demand of imported palm oil at Rs 2,130 per 10 kg. Meanwhile, palm oil futures in Malaysia rose by 3 to 4 points in the global market today, while soyoil prices in the US were reported to be in the projection of 4 to 5 points in the projection this evening. In the Mumbai spot market, the price of 10 kg of palm oil today was Rs 1,150 while crude palm oil CPO Kandla was at Rs 1,150 and Rs 113. In the futures market, CPO futures were priced at Rs 1,109.60 and December soyoil December futures at Rs 113.50. Were spoken. Soybean futures rose by Rs 10 to Rs 510 in the evening. Meanwhile, in the Mumbai spot market today, the price of castor rose by Rs 15 to Rs 200 per kg. While the spot price of Mumbai castor rose by Rs. In the Mumbai market today, the price of cingulum oil was hitting Rs 150 and cottonseed oil was hitting Rs 150. On the Saurashtra side, there was

Nymex falls to 60, Brent to 71.81 amid global risk of inflation (Gujarat News Correspondent) MUMBAI: In the midst of rising inflation, Indian stock markets today resumed their game of managing indexes over the weekend, with IT-software services, technology frontline stocks as well as finance, capital goods-power, FMCG, automobiles and The Sensex again crossed the 30,000 level and the Nifty crossed the 12,000 level. On the one hand, foreign funds, Foreign Portfolio Investors (FPIs) stocks continue to sell, while domestic funds, institutional investors continue to buy stocks amid the possibility of a major negative impact on the global economy in the coming days. The Sensex jumped 9 points to 206.3 and the Nifty spot jumped 2.15 points to a high of 19107.5. Of course, against this game of index management, funds, players, operators had wide gaps in small, mid-cap, cash stocks rather than massive offloading. The US dollar had lost 7 paise to Rs 4.5 against the rupee today. International

AHMEDABAD: The Employees Provident Fund Organization (EPFO), which has an estimated 2.5 crore members, is questioning its investment in bonds of various companies worth Rs 11,000 crore. This is an investment in which the invested companies have defaulted and no interest or principal is paid. The organization invests the amount of salary savings and interest on it at the time of retirement of the employees in different sectors and pays back accordingly. If this amount is not returned, EPFO's funds could be hit hard. No principal or interest is being paid on the bonds of IL&FS, Reliance Capital with the outstanding amount being Rs 3 crore. In addition, the credit ratings of bonds invested by Indiabulls Housing, IDFC First Bank and Yes Bank have been weakened. EPFO's total investment in Diwan Housing was Rs. As on September 30, Rs. 313.04 crore against principal and Rs. 190.2 crore of interest have not been recovered. Dewan Housing's bankruptcy proceedings have been com

- At the start of trading, the Nifty opened 91.60 points, or 0.51 per cent, higher than the previous close. New delhi date. Friday, November 12, 2021 After a continuous decline for the last 3 days, the start of the stock market on Friday has been very positive. The 30-share Sensex of BSE and the Nifty of NSE both opened with green marks. The Sensex opened 341.76 points, or 0.57 per cent, higher and once again approached the 60,000 level. The Sensex opened at 60,231.12 points in the morning trade. Similarly Nifty also opened with green mark. At the start of trading, the Nifty traded 91.60 points, or 0.51 per cent, higher at 17,965.20 compared to the previous close.

MUMBAI: Failure to auto debit payments has seen a sharp decline in October. Failure to request an auto debit through the National Automated Clearing House has led to a decline in both value and volume to the previous level of Corona. The report confirms lenders' claims that recovery capacity has increased over the past few months. According to data from the National Automated Clearing House, of the 3.7 crore transactions conducted in October, 2.50 crore or 21.5 per cent were unsuccessful while 4.5 crore transactions were successful. In terms of value, 6.5 per cent of transactions undertaken failed, the lowest since January 2020. Failure to request an auto debit through the National Automated Clearing House is commonly referred to as a bounce rate. This is an indication that the recovery trend seen by most banks in recovery in the second quarter of FY40 will continue in October, an analyst said. These bounce rates are at the levels seen in the months before the Corona of Janua

New Delhi: India's sugar mills have exported 2.5 lakh tonnes of sugar in the last 30 days of the current marketing year, according to the All India Sugar Trade Association (AISTA). More than 1.5 lakh tonnes of exported sugar is under loading. The sugar mills have so far entered into export agreements of 1.5 million tonnes of sugar without government subsidy in the current marketing year 2021-2, the association said. According to the organization, the mills have exported a total of 2,6,8 tonnes of sugar from October 1 to November 9, 2021. Out of the total exports so far, 1.05 lakh tonnes have been exported to the UAE, followed by Bangladesh at 2.50 tonnes, Somalia at 2.50 tonnes and Iran at 5.5 tonnes. Exports of raw sugar have been slow despite the contract for one lakh tonnes of sugar.