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image : Twitter Another company has been rocked after a new report from Hindenburg Research. The name of this company is Block Inc. and its founder is Jack Dorsey. Jack Dorsey suffered a major loss after the Hindenburg Research report was published. His wealth has reduced to 52.6 crore dollars in a single day. How much did Jack Dorsey's Block Inc. shares crash? According to Bloomberg's Billionaires Index, after an 11 percent drop, his net worth is now only $4.4 billion. Shares of Block Inc fell as much as 22 percent on Thursday. Notably, Block provides payment and mobile banking services for businesses and users. What did Hindenburg reveal? Hindenburg released a report claiming that Blok had cheated on payments. Allowed users' metrics to be presented incrementally. Wrongly generated revenue. At the same time, the stock was manipulated and its price was taken higher. The shares of this company are overvalued by 75 percent. It has made Jack Dorsey a profit of 1 billion

Mumbai: US Futures and Options (F&O) indices ended the March trend in Indian stock markets today with the Federal Reserve raising interest rates by 0.25 per cent despite the recent banking crisis in the US and easing global markets signaling higher interest rates. A softening was observed at the end of the based major upheaval. Funds, experts today traded bullish on two-way extraordinary volatility away from fresh buying in stocks as US-based short seller Hindenburg Research announced a new explosive report by US-based short-seller Hindenburg Research, which sent a major shock to Indian stock markets in the past few days with an explosive negative report on Adani Group by the Federal Reserve. was eased. Big offloading in IT, software services, Reliance followed banking-finance stocks on cue from the Federal Reserve. While the FMCG, automobile stocks saw an attractive recovery. Sensex initially fell by 375.74 points to reach a low of 57838.85 in a quick recovery, recovered 557.32 p

Mumbai: Recently, the government has tightened the rules for foreign investment in startups. This change in rules has worried everyone from startups to venture capital (VC) investors. Angel tax has become a concern for startups. Angel tax regime was introduced in 2012. It was implemented with the aim of preventing money laundering. If a startup raises funds from angel investors and these funds are more than the fair value of the shares, it may be taxed. Angel investors provide financial support to startups. It is often seen that angel investors are family and friends of the founder of the startup. Till now, two types of investors in startups were exempted from angel tax. This includes VC firms registered as alternative investment funds in India and all foreign investors. Through an amendment in the Union Budget 2023 Finance Bill, the government has abolished the tax exemption granted to foreign investors. According to industry officials, 90 percent of investments in startups in Ind

MUMBAI: In the Mumbai jewelery market today, the price of gold was seen rising again, while silver also rose again. World market news showed renewed bullishness in precious metals. As the world market rises, the import cost at home has increased again and due to this, a fresh wind of bullishness blew in the jewelery markets of the country today. The price of gold in the world market increased from 1938 to 1939 and the price was 1983 to 1984 to 1968 to 1969 dollars. There were indications that funds buying in global gold became widespread as the dollar index broke in the world market amid the possibility of the rate of interest rate increasing by only five percent in the US and the possibility of the pace of growth in the interest rate going up there. Meanwhile, on the back of gold, the global silver prices also increased from 22.29 to 22.30 an ounce today from 23.09 to 23.10 to 23.83 to 23.84 dollars. At home, Ahmedabad silver prices rose by Rs.500 per kg to Rs.69,500 while Ahmedaba

Mumbai: Looking at the continuous records of transactions based on the Unified Payments Interface (UPI), the size of the e-commerce market in India, which was 83 billion dollars in 2022, is expected to reach 150 billion dollars in 2026. With the increase in purchases through e-commerce, cash transactions are also decreasing. According to a report, the use of cash in purchases at the point of sale, which was 71 percent of total transaction value in 2019, declined to 27 percent in 2022. With the development of new generation real time payments infrastructure, India is becoming a global leader in payments. UPI is not only reducing cash transactions by consumers but also increasing financial inclusion. Cross-border trade is also gaining momentum with the development of real-time payments schemes by other central banks. Digital wallets are also expected to increase transaction value tremendously in the coming years. In February 2022, the number of daily payments through UPI which was 2

Mumbai: Despite the hurdles, the current financial year has seen an increase in sales of electric two-wheelers in the country. Looking at the vehicle sales figures till February of the current financial year, it seems that the sale of electric two wheelers has been 637128 units till February which was 239180 units in the last full financial year. The sales figure in FY 2020 was 24845. The increase in sales has been witnessed despite allegations of misuse of the Fatu scheme by electric vehicle manufacturers and subsequent withholding of subsidy amount due to them. The government has withheld a subsidy of approximately Rs 1100 crore. Thus, the vehicle manufacturers are expecting to witness a strong market share in the next few years due to the strong increase in sales. In addition to the new model launch in the coming year, two wheeler manufacturers can see a lot of competition, said an expert in the two wheeler sector. The reason behind the increase in sales of electric two-wheele

Asset manager Jeremy Grantham predicts a major economic recession Ahmedabad: In the rapid recovery after the corona epidemic, the global economy and stock markets were growing at a superfast speed, but due to the Russia-Ukraine war and global inflation, this recovery has received a double blow. When the US Federal Reserve is obliged to raise interest rates up to five times in a single year to control inflation in the world's largest economy, the stock markets have been hit hard, but in the near future, there are fears that the dark clouds of the recession will become darker and more severe crashes are predicted. done Jeremy Grantham, noted investor and co-founder of asset management firm GMO, predicted in a recent article that there is a bullish bubble in the stock market and house prices and it is about to burst, followed by a major recession. He warned that stock market participants had become overly optimistic, leading to a bubble in the stock market and real estate sector. G

Image - wikipedia New Delhi, dated 23-March-2023, Thursday As layoffs continue in large companies amid growing fears of a global recession, yet another IT company has decided to go for massive layoffs. IT sector giant Accenture has announced on Thursday to cut 19000 employees. The company also lowered its annual revenue growth and profit estimates in its results. IT company Accenture further said that these layoffs will be done in a phased manner over 18 months. Amid fears of recession, the company emphasized cost reduction The company on Thursday cut its annual revenue growth and profit forecasts amid concerns about cuts to technology budgets and concerns about cuts to technology budgets, it is believed. According to the company's latest estimates, its annual revenue could go up to 8 percent to 10 percent during the local currency. The company had earlier estimated revenue growth of 8 percent to 11 percent. Shares rose 4 percent The company has said that more than half of i

image : Twitter Everyone must be aware of the state of Adani Group since the release of the report on Adani Group by the Hindenburg Research Firm. Adani Group shares tumbled by around 85 per cent. Meanwhile, Hindenburg Research has once again tweeted something that has raised the pulse of everyone. New report soon—another big one. — Hindenburg Research (@HindenburgRes) March 22, 2023 What did you tweet? After publishing a report on Adani Group by Hindenburg Research Firm, it has once again hinted to publish a new report. The short selling firm has informed that a new report is coming soon. There will also be a big explanation. Hindenburg presented a report on the Adani Group on January 24 in which several allegations were made. What was the effect on Adani Group? Gautam Adani's wealth has decreased from 150 billion dollars to 53 billion dollars since the Hindenburg Research report on Adani Group. He fell straight to the 35th position on Forbes' list of the world's

image : Twitter / Wikipedia The number of billionaires worldwide has dropped by 8 percent this year since the global economic slowdown. While 16 new billionaires have become in India. Topping this 16 is Rakesh Jhunjhunwala's family. Since his death, his wife currently runs the business. How many billionaires grew up? According to the M3M Hurun Global Rich List, 176 new billionaires emerged from 18 industries in 99 cities across the world in 2023. In 2022, there were a total of 3,384 billionaires in the world. In 2023, their number has reduced to 3,112. All of these are from 69 countries and own 2,356 companies. In five years, the wealth of the Indian rich increased by 360 billion dollars, which is equal to the GDP of Hong Kong. Adani's assets fell by 60 percent to 53 billion dollars According to the report, Amazon's Jeff Bezos' net worth has fallen by $70 billion this year, which is more than the losses incurred by Mukesh Ambani and Gautam Adani. Adani's asse

MUMBAI: Expectations of no hike in interest rates ahead of the US Federal Reserve's meeting decision and signs of an easing of the crisis following UBS's acquisition of Credit Suisse following the global banking crisis and UBS' offer to buyback credit-risk bonds as credit surges eased investor anxiety today. Along with the global markets, Indian stock markets rose for the second day in a row. Of course, Prime Minister Narendra Modi called an important meeting and started an intensive effort to control the situation regarding the alarming increase in Corona cases in India. Funds rose today, led by healthcare stocks, as a sign of increasing business opportunities in the healthcare-pharmaceuticals sector. Along with this, as the erosion in IT stocks stopped and automobile, FMCG, oil-gas, banking stocks remained attractive, Sensex increased by 139.91 points to 58214.59 and Nifty spot increased by 44.40 points to close at 17151.90. The international prices of crude oil continue

MUMBAI: In the Mumbai jewelery market today, the price of gold and silver went on a downward spiral, the news of the world market was showing a rapid retreat. The price of gold in the world market was 1934 to 1935 to 1938 to 1939 dollars per ounce at a low of 1963 to 1964. There was an increase in the sale of funds in gold in the world market. However, before the interest rate meeting of the Federal Reserve in the United States, there were indications that the global index of the dollar rose against various major currencies in the world market and reached a five-week high. In the Mumbai currency market today, amid the holiday mood, the dollar price rose slowly to Rs.82.68. The price of pound was Rs.101.39 to 101.40. In the Ahmedabad jewelery market, gold prices fell by Rs.300 per 10 grams to Rs.99.50 to Rs.60,200 and Rs.60,500 to 99.90. Ahmedabad silver prices, however, remained firm at Rs.69,000 per kg. Meanwhile, behind gold, silver prices were also under pressure in the world mar

Mumbai: While disinvestment activity in the country is expected to slow down in the next financial year, the process of privatization of two public sector banks is also set to remain challenging. Finance Minister Nirmala Sitharaman announced the privatization of two public sector banks in the 2022 budget. The NITI Aayog is also believed to have finalized the names of two banks, but there has been no move to privatize them. The finance minister also announced the privatization of a general insurance company. As the Lok Sabha elections are scheduled in the country in 2024, the government will move slowly in the disinvestment activity, but the government does not want to rush the privatization of banks, said an analyst of a rating agency. The government is currently in limbo over privatization as a result of protests by banking sector employees. The government has not been able to achieve its disinvestment target in the current financial year as a result of market volatility. The gov

Mumbai: The country's mutual fund industry has not been spared from the impact of high volatility in the equity market in the last one and a half years. Decline in the number of new investors is becoming a challenge for the industry as mutual funds are making efforts to increase business in the country. A total of 3.7 lakh new investors have been added to the mutual funds industry in the first 11 months of the current financial year, as against one crore added in the first 11 months of the previous financial year. New investors are identified by the industry based on Permanent Account Number (PAN), industry sources said. Inflow of new investors has slowed down due to weakness in short-term performance of equity schemes. Investors tend to join the scheme by looking at its performance. Looking at the performance of equity mutual fund schemes in the current financial year, it appears that 50 per cent schemes have given negative returns to investors, while around 20 per cent schem

Mumbai: Despite the moderate slowdown in America and Europe, with improvements in the supply chain, recovery in India's exports can be seen from the last 6 months of the next financial year. India's exports are currently approaching an inflection point. With Chinese markets booming again, the situation has become favorable for India. The decline in exports is set to come to an end, and the last six months of the next financial year are likely to see a gradual pick-up in exports, said a report by Fitch Ratings. India is striving to increase its share in the global supply chain. There are early signs of this. An increase in share in the global supply chain will boost India's exports, said Jeremy Zuck, director at Fitch's Asia Sovereign Ratings in an interview to a news agency. According to trade statistics released by the country's Ministry of Commerce and Industry, the country's merchandise exports fell by 8 percent in February, resulting in a fiscal deficit

MUMBAI: As the financial year 2022-23 is coming to an end, geopolitical tensions including Ukraine and the globalized banking crisis in the US, Europe have led investors to turn to the safe investment option gold-gold in this farewell year. Gold prices have rallied as global investors turn away from investments in comparatively riskier stocks and become buyers of gold. While stock prices have been seen falling. So, investors have got more return in gold than stocks in the year. Two years ago, as a result of the corona epidemic, there was a big boom in global equity markets and investors got high returns in stocks. But after that, as a result of the rise in interest rates due to the geopolitical tension in the Ukraine-Russia issue and the rise in interest rates due to the rise of the banks in America, Europe, in the wake of the global banking-financial crisis, investors started selling stocks and becoming buyers of the safe investment tool gold. In FY 2022-23, MCX Gold rose 15.42 per

MUMBAI: Under the Reserve Bank of India's liberalized remittance scheme, remittances going abroad during April-January in FY2023 have surpassed the previous financial year (FY2022) and reached an all-time high. According to Reserve Bank of India monthly bulletin data for March, remittances under the scheme during April-January were $22.08 billion. A total of 2.72 billion dollars has been sent abroad in January 2023 alone. This is the highest outflow of funds during a single month in the current financial year. In FY22, Indians remitted a little over $19.61 billion under the Reserve Bank's liberalized remittance scheme, the highest ever. Reserve Bank data shows that in the first 10 months of the current financial year 2023, the record set in the same period last year was broken. This has increased especially due to international travel. In FY21, there was a big drop in money going abroad due to Corona, as there were many restrictions and international travel was stopped for

- Another blow: Foreign investment in the Adani group has been done by shell companies - Vinod Adani and his colleagues continue to invest in the Adani group: In 2017 alone, Adani Port received investments from 165 shell companies. AHMEDABAD: British newspaper The Financial Times has made a big blast today after the Hindenburg report that listed companies of the Adani group in India are involved in financial manipulation and financial manipulation by companies affiliated with or owned by the group. About half of the total foreign direct investment in the Adani group over the past five years has been through companies or funds owned by promoters of the Mauritius and Dubai-based conglomerate, according to a newspaper report. According to the report, about Rs.20,800 crore foreign investment has been made by these companies in the last five years. According to this report, based on the figures of foreign direct investment in India, the Adani group has invested 45.4 percent or 2.6 billi

There is a good news for most of the working class in India. Usually after the month of March, private companies take up the process of increment for their employees and the good performance report of the employees is prepared. So let's know how much the average salary hike is likely to be this year. Slightly less than the actual increase at all job levels except for blue-collar workers In the year 2023, the average salary increase in India is likely to be 10.2%, lower than the actual increase of 10.4% in FY 2021-22. Estimated salary increases for 2023 are slightly lower than actual increases for 2022 at all job levels except for blue-collar workers, the EY report found. In the case of blue-collar workers, compensation is slightly reduced in 2023. In the top 3 technical sectors of the country, the salary can increase by such a percentage The top 3 technical fields in the country with the highest projected salary increases belong to them. E-commerce is expected to grow the most

Image - wikipedia New Delhi, Dated 22-March-2023, Wednesday Today is a very important day for the world, as the US Federal Reserve Bank may take an important decision on interest rates in its meeting tonight. The Fed Reserve will announce the decision tonight, Indian time. If the Fed Reserve increases the interest rate, it will have a direct impact on the stock market around the world, including the Indian stock market. After the bankruptcy of Silicon Valley Bank and Signature Bank in the US, and with the US inflation rate remaining at 6 percent in February, it is not an easy decision for the Fed Reserve. A major challenge is the banking crisis amid rising inflation While the biggest challenge facing the US central bank is to curb rising inflation rates, experts are expecting the Fed Reserve to raise interest rates once again. However, given the banking crisis, this may lead to a modest increase in interest rates. In January 2023, Lisa D. Cook, a member of the Board of Governors o