Market and Business News

MUMBAI: The Reserve Bank of India (RBI) today pegged the country's economic growth at 7.5% for the financial year 206-2 in a review of lending policy. Which is less than the central government's rate of 5 to 7.5%. The RBI's review concluded that the country's economy may still have time to recover or recover. In this situation, it is necessary to keep the interest rate stable as well as provide financial liquidity to various sectors as required. In the review, the Reserve Bank kept the repo rate stable at 3% and the reverse repo rate at 7.5%. This is the tenth review in which no change in interest rate has been made. The Reserve Bank of India's Monetary Policy Committee (MPC) decided to keep the repo rate and reverse repo rate unchanged after a three-day monetary policy review meeting. The MPC had unanimously decided to maintain the repo rate at 3%. The reverse repo rate has been kept unchanged at 7.5 per cent. The market was expecting an increase in the reverse

(Gujarat News Office) MUMBAI: The Mumbai jewelery market was booming today. World market news was booming. The dollar also rose against the rupee at home. As a result, rising import costs in the jewelery market led to higher market prices. As bond yields and the dollar index fell in world markets, fundraising in gold increased. In the world market today, the price of an ounce of gold was ૮૨૬ 15 to વાળા 16, from ૮ 1215 to ૮ 1215. After gold, the global silver price jumped from ૮૪ 4.5 to ૮૫ 7.5 to ૨૩ 4.5 to ૨૪ 7.5 today. Behind the world market, the domestic atmosphere was bullish. Ahmedabad silver rose by Rs.1000 per kg to Rs.200 while Ahmedabad gold rose by Rs.100 per 10 grams to Rs.50,000 at 2.50 and Rs.30,500 at 3.50. The world market is now eyeing the US inflation figure which will be released on Thursday (today). World platinum prices, meanwhile, rose from ૧ 103 to ૪૩ 105 to ૧ 1010 a year, while palladium prices rose from ૨૨૪ 20 to ૨૨૪ 21 to ૨૨૬૩ 4 to ૨૨૬૪ 5. Global copper price

The Center has asked the states to impose stock limits on oilseeds (Gujarat News Office) MUMBAI: The weather in Mumbai Oilseed Market was mixed today. In Malaysia, palm oil prices rebounded by noon and last rose by 12 points. In the United States, soyoil rose 20 to 31 points in projection. There was news today that the central government has again appealed to various states to implement the domestic stock limit. Meanwhile, Kira. As the gap between the prices of palm oil and crude palm oil CPOs narrows, trading in CPOs has come to a standstill, market sources said. In the Mumbai market today, the price of palm oil was Rs 120 to Rs 12 per 10 kg. The hawala resell traded between Rs 1,215 and Rs 150 for 150 to 200 tonnes. Peanut oil was trading at Rs 150, cottonseed palm oil at Rs 1,905, while mustard was down at Rs 120 and refined at Rs 1,210. Soyoil prices ranged from Rs 150 to Rs 12 for digam and Rs 15 for ref. The price of sunflower was Rs. 15 and Rs. The spot price of castor oil h

Investors' wealth increased by Rs 2.31 lakh crore in one day to Rs 4.5 lakh crore (Gujarat News Correspondent) MUMBAI: Global stock markets rallied yesterday, with the US Dow Jones and Nasdaq index rebounding and Indian stock markets rallied again today. Deloitte predicts a sharp rise in petrol and diesel prices in March, following the recent sharp rise in international crude oil prices, despite the continued risk of inflation as the global economy returns to normal as the Coro transition draws to a close. The possibility of an interest rate hike by the RBI has led to an aggressive rise in funds in stocks. Along with banking-finance stocks, IT-Software Services, Consumer Durables, Power-Capital Goods and Healthcare stocks, the Sensex jumped 3.6 points to close at 4.5 and the Nifty spot closed at 16.05 points. The US dollar had gained 3 paise to Rs 5.31 against the rupee. Bankex rises 6 points: Federal Bank, IndusInd Bank, HDFC, AU Small Bank, ICICI Banking-finance stocks were s

New Delhi: The Indian crypto market breathed a sigh of relief when the central government announced in the budget that it would levy 20 per cent tax on earnings on digital assets, i.e. cryptocurrencies. After the government announced to levy tax on transfer along with income, now it is also preparing to levy additional tax. According to a report, the GST Council may decide to impose 5% GST on cryptocurrency or virtual currency. A decision on this could be taken at a possible meeting of the GST Council after the budget session of Parliament. Finance ministry officials, including the Reserve Bank, have also spoken of tightening control over the crypto market. Sources said that the Modi government may put cryptocurrency in the lottery category. At present, there is a provision of 5% GST on private lotteries and horse riding. The way the government is now levying crypto earnings and transfer tax has cleared the way for it to go under GST. According to the government, if this is a type o

MUMBAI: With corona cases declining and most of the states in the country deregulating, manufacturers of summer products such as freezers, coolers, ACs, ice cream etc. are expected to see a sharp increase in sales this summer after a gap of two years. Based on these assumptions, companies are increasing production. Manufacturers are increasing production and bringing Corona back to earlier levels. Manufacturers' capacity utilization has increased to 5 to 6 per cent in the current month against 30 to 40 per cent of production due to Omicron and is expected to be operational at full capacity next month. Production will accelerate as it grows, said the head of the sales department of the company which manufactures ACs and freezers. Demand for AC-freeze has been weak for the past two years due to Corona-like regulatory conditions and the impact on consumer income. "The situation is changing now and we expect this summer to be very busy," he said. The wedding season has a

MUMBAI: With some of the world's banks raising interest rates, the Reserve Bank of India (RBI) may choose to wait a few more months to raise interest rates, a survey has found. Inflation in India is still claimed to be relatively low. However, in view of the government's massive borrowing program, there has been speculation that the Reserve Bank will raise the reverse repo rate. Economic recovery in India, which has been hit the hardest by emerging economies due to Corona, has just begun and no special relief has been announced in the budget. Corona caused shutdowns and supply disruptions in the country's businesses. For two consecutive years, the RBI has kept the repo rate as low as 5 per cent. According to a survey conducted by a news organization, 17 out of 5 economists surveyed said that the Reserve Bank of India (RBI) would raise its rates by 3 basis points in April. The remaining 15 defendants indicated an increase in June or August. One economist had expected int

As a result of higher edible oil prices MUMBAI: Global food inflation could also be a topic of discussion at the Reserve Bank's Monetary Policy Committee (MPC) monetary policy review meeting starting today. Global food prices, which were reported to have declined in December, rose again in January. The Food and Agriculture Organization's (FAO) food price index was 1.16 per cent higher than in December. Compared to January last year, the index has risen 19.60 per cent, according to the organization. The January food price index stood at 12.20. The FAO report said the rise was due to a spike in edible oil prices. The prices of various types of edible oils have gone up. Edible oil prices rose by 2.50 per cent in January compared to December. Palm oil prices rose on fears of declining availability from Indonesia, while reports of poor production in other countries pushed prices up. India's strong demand for soyoil is also one of the reasons for the rise in prices. Rising

MUMBAI: The Corona epidemic and limited income will once again wreak havoc on the troubled population. Prices of beauty products ranging from bistik are likely to rise this month. Companies considering the pressure on raw materials and margins are considering raising prices. "We haven't raised prices in months," said the president of the Consumer Electronics and Employees Manufacturers Association. Companies did not raise prices in view of the festival season. However, the price of FMCG products may increase by five per cent in the current quarter. The main reason for the rise in prices is the high cost of other raw materials, including fuel. He said the rise in prices would not be the same as some companies have already raised prices. Commodity prices have soared in the last 12 months, said a leading manufacturer of fans, coolers and kitchen appliances. Prices of plastic, steel and copper have skyrocketed. So we can increase the price of our products by four to seven

(Gujarat News Correspondent) MUMBAI: The Reserve Bank of India (RBI) has said it is imperative for the government to curb inflation due to rising crude oil prices and state elections, including in Uttar Pradesh, despite OPEC's decision to increase production. Reports of India's decision to raise interest rates by 0.5 per cent in its February 10 credit policy review sent Indian stock markets into a tailspin on the first day of the week today. Of course, as negotiations between the US and Iran continue, the fire of crude oil has calmed down and prices have been hitting. Brent crude was down 3 cents at ૪ 3.31 and Nymex crude was down ૨૭ 1.3 at ૯ 61.05 in the evening trade. Banking-Finance, FMCG, Capital Goods-Power, IT stocks, pharma auto stocks and offloading of funds, the Sensex fell by 106.5 points to 31.15 and the Nifty spot fell by 206.60 points to close at 1912.50. Technically Nifty, Bank Nifty close trend down: Nifty 19151 and Bank Nifty 31 close necessary for rally Tech

MUMBAI: New demand was strong in the Mumbai oilseeds market today, with prices sluggish. In Malaysia, palm oil futures fell 3 points. In the US, soybean oil was in the 3 to 4 point plus in projection. Castor futures were raised by Rs 20 to Rs 5. Crude palm oil and ref. There were indications that the gap between palm oil prices was declining. In Mumbai, the market price was Rs 120 per 10 kg of cingulum oil, Rs 15 for cottonseed oil, Rs 15-150 for soybean oil and Rs 150 for ref. The price of sunflower was Rs.150 and Rs.1500 for ref. Palm oil prices fell to Rs 19 and crude palm oil CPO Kandla was at Rs 19. At Saurashtra, prices were quoted at Rs 1,200 for cingulum oil and Rs 1,050 to Rs 1,050 for 15 kg and Rs 150 to Rs 15 for cotton washed. Meanwhile, castor oil prices rose by Rs 15 per 10 kg in the Mumbai spot market today, while spot castor prices rose by Rs 3 per kg. In Mumbai flour market, the price of soymeal fell by Rs 200 per tonne and cottonseed meal by Rs 1,000. While the p

(Gujarat News Office) MUMBAI: Gold and silver prices rose in the Mumbai jewelery market today. There was news of world market growth. The market was watching rising inflation in the US. Meanwhile, world crude oil prices were on a downward spiral. Brent crude was trading at ૯૩ 4.5 a barrel, down from 6 a barrel. New York's main contract, which rose to ૭૩ 4.5, was at ૪૮ 51.8. Amid hopes that talks between the United States and Iran will be concluded soon and that Iran's crude oil supply will increase in the world market, the rise in crude oil was cautious in the world market today. However, despite the retreat in crude, gold prices in the world market today rose from ૮ 1,305 to ૯ 1,305 an ounce and stood at ૮ 1,215 to ૪ 1,215 an ounce. Behind gold, the global silver price also rose from ૫ 7.31 to ૮૮ 4.5 to ૮૯ 7.5. Even at home behind the world market, prices rose in the jewelery market today. In the Ahmedabad market, silver rose by Rs 200 per kg to Rs 200. While Ahmedabad gold

Mumbai: The government is committed to increasing the coverage of GST in India. Efforts are being made to increase transparency by bringing as many goods and services under GST as possible. Finance Minister Nirmala Sitaram said the next meeting of the GST Council would discuss the issue of bringing Aviation Turbine Fuel (ATF) under the purview of Goods and Services Tax. Rising global fuel prices are a cause for concern. Sitaram said in a post-budget discussion with Assocham that the final decision on the inclusion of ATF in GST would be taken by the council. It's not just in the hands of the center. The issue will be taken up with the GST Council at its next meeting. The finance minister was responding to comments made by SpiceJet founder Ajay Singh, in which Singh sought the finance minister's support to bring the ATF under GST. At present the central government levies excise tax on ATFs while the state governments levy VAT on it. Earlier this month, oil companies had hik

MUMBAI: Life Insurance Corporation (LIC), which is gearing up for a mega IPO, has seen its share of listed companies fall to record lows at the end of the December quarter as it booked huge profits. The shareholding of India's largest insurer fell to an all-time low of 7.5 per cent in terms of market value of all listed companies at the end of the December quarter, up from 7.8 per cent in the September quarter. LIC's shareholding in listed companies reached a record high of 3% in June 2016. The shareholding data includes six companies in which LIC holds more than one per cent stake. In terms of value, LIC's shareholding value in listed companies is Rs. 4.5 lakh crore, an increase of 1.6 per cent over the previous quarter. The rise in shareholding value is attributed to the rise in the share price. In terms of growth, LIC Power Grid Corporation, Dredging Corporation, Computer Edge Management Services, Coforge, Deepak Nitrite, JSW ES . On the other hand, 10 companies - IR

MUMBAI: A budget proposal to tighten the rules attached to the Goods and Services Tax (GST) tax credit will make it difficult for taxpayers to get their tax credit. According to the Confederation of All India Traders (CAT), GST input tax According to the new proposal, if a trader delays in filing GSTR-2 after filing GSTR-1 on the return of supply, the tax credit will appear in his account but the trader cannot use it in paying tax. "Taxpayers who pay their taxes on time will have to bear the brunt of irregular traders," said Shankar Thackeray, Kate's top official. The new restrictive rule on credit has raised concerns among traders. However, tax experts say this is a far-reaching step. The purpose of this rule is to bring discipline on traders in filing returns on time and regularly. An earlier waiver has been withdrawn. Another proposal is that if multiple business firms have registered for GST on the same pen card, the merchant will be able to pay his second genera

MUMBAI: In the wake of the Corona epidemic, a large number of small investors have been tempted to invest heavily in the stock market to make money in the short-term. As a result, the share of small investors in companies listed on the National Stock Exchange (NSE) in December 2012 has risen to a historic high of 7.5 per cent, up from 7.8 per cent in the same period a year ago. The participation of retail investors in companies listed on the NSE has also increased at a time when the Nifty benchmark has declined by 1.5 per cent in the quarter under review. The share of large investors, namely high net worth individual investors (HNIs) in NSE companies, has also risen to a record high of 7.5 per cent. As a result, the total share of retail and HNIs has come down to 7.5 per cent. Notably, small investors have invested heavily in IPOs over the past year to seize the opportunity for listing gains. Market participants said that the participation of small investors in the stock market is i

- Antenna: Vivek Mehta After paying 3% of the settlement amount in advance, the remaining amount is allowed to be paid in six-month installments: Bank's NPA Rs. Estimated to be more than Rs 300 crore: Rs. 150 crore relief is expected The Gujarat State Cooperative Agriculture and Rural Development Bank has approved a one time settlement scheme for approximately 20,000 debtors of Kheti Bank to repay their arrears without huge burden of interest and penalty. By announcing this scheme, Kheti Bank has given Rs. It plans to recover the maximum amount from the outstanding amount of over Rs 200 crore. Due to the one time settlement scheme, farmers have to pay around Rs. 150 crore relief is estimated. The implementation of One Time Settlement Scheme has been started from February 2, 207. The last date for applying for refunds under this scheme is March 31, 203. Since the co-operation department was handed over to Amit Shah at the Center, an exercise has been carried out to increase the n

The finance minister read an important part of the budget speech focusing on infrastructure. The Central Government is the best agency for developing infrastructure at the national level, so the commitment of the Finance Minister to promote various model based infrastructure and logistics is welcome. The country needs basic development. Investment in this sector also attracts the private sector, which reduces the cost of ease of doing business and paves the way for new economic activities. In such a scenario, investment in the infrastructure sector creates not only direct employment but also indirect employment. The first priority in the country is to create employment. Many people have lost their jobs during the epidemic, many whose jobs or livelihoods have not been completely destroyed but whose incomes have dropped significantly in the last two years. Now that we assume that we are entering the post-Covidian era, we should not only create new employment opportunities at a fast pac

- Children at home should be interested in the budget. An understanding can be given from the household budget. The income and expenses of the household can be easily explained - Household budget is an issue associated with savings. Even teenagers do not understand the meaning of deposits, withdrawals or savings. - Budgets are so complicated that people have to scratch their heads to figure out where the money will come from and where it will go. This Jakal budget season is underway. Country budget, state budget, city budget etc. are becoming a heavy subject. Budgets are so cumbersome that people have to scratch their heads to figure out where the money will come from and where it will go. How can a common man understand what even a chartered accountant is trying to understand? Everyone tries to understand the budget of their field. The unfortunate thing is that the budget is painted politically. What the ruling party calls development-oriented, the opposition party calls dull. Eve

- Central banks around the world are considering raising interest rates to curb skyrocketing inflation following the Corona epidemic, not to mention India. The rise in bond yields has been attributed to higher inflation in the country, rising fiscal deficit, trade deficit, concerns over growth in industrial production and rising credit-to-deposit ratios of banks. Let us now discuss in detail how an increase in bond yields will affect equity investors. What are bonds and bond yields? Bonds are basically a receipt of a loan in which an investor lends money which is usually corporate or government. Simply put, bonds are a means of lending, allowing various institutions, such as corporates and governments, to raise funds from the market. Bonds are traded like stocks. As companies / governments issue bonds to raise money, they pay fixed interest to bondholders known as coupon rate. Bonds are traded in the same way as stocks. This return is called bond yield. For example, if an investor