Market and Business News

(Gujarat News Correspondent) Mumbai, Ta. 23 July 2020, Thursday Despite the US order to close its consulate in Houston and China warning of retaliatory measures, relations between the two countries deteriorated on the global front and the acquisitions in corporate India were positive today. Following the investment of global investors in Reliance Industries' digital unit Geo Platforms so far, reports of Amazon buying holdings in Reliance Retail have now been positively impacted by the aggressive takeover of funds in Reliance Industries. Along with this, the Sensex surged by 9.5 points and the S&P 500 by 4 points on the back of sustained gains in banking and finance stocks and renewed borrowing in pharmaceuticals and healthcare stocks and attractions in automobile, consumer durables, metal and oil and gas stocks. The points were up and closed at 11,417.8. Even small, mid-cap stocks were aggressive in taking funds today. Of course, IT-software stocks saw rising profit bookings....

New delhi date. 23 July 2020, Thursday In the first fortnight of July, Indian retailers' sales declined by 8% year-on-year. The adverse effect on their trade has continued due to the impact of Corona. According to a survey conducted by the Retailers Association of India (RAI), there are no signs of recovery from the impact of Kovid-12 for the retail sector. The Corona epidemic has had a serious impact on the country's retail sector. The survey, conducted between July 1 and 12, found a modest improvement over the entire month of June. Retail trade fell 3 per cent in June. The survey is conducted every month by Rai, who represents the country's modern retailers. April saw a 5 per cent drop in retail trade. Strict lockdowns were imposed in India in April-May to prevent the spread of corona. According to the latest survey, there has been a modest improvement in food and grocery and consumer durables. While the apparel segment continues to decline sharply. Retailers are ge...

(By commerce representative), Mumbai, Ta. 23 July 2020, Thursday In the Mumbai oilseeds market, cingulum oil prices remained soft behind the stations today, while imported edible oils remained on the rise. Meanwhile, cottonseed oil prices fell on the back of rising prices, while the daily market sales of 5 lakh bales of cotton by the Cotton Corporation of India (CCI) broke a five-year record, according to market sources. There was news in the world market today that edible oil prices remained firm. Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil was Rs 1,200 and cottonseed oil was Rs 6. The prices of cingulum oil were Rs 1,50 to Rs 1,2 per kg and 15 kg to Rs 4,010 per 15 kg, while the prices of cottonseed were reported to have fallen to Rs 510 to Rs 712 per kg. Imported palm oil was quoted at Rs 70 in the Mumbai market today. About 500 to 70 tonnes were traded in the range of Rs 210 to Rs 50 for various deliveries. Crude palm oil (CPO) Kandla was up ...

Mumbai, Ta. 23 July 2020, Thursday Gold and silver rallied behind the world market. Gold has seen new record prices. Although the coronavirus effect and the high price are not particularly taken into account, the world market is seeing a rise in domestic prices. The dollar index has continued to fall below 8. The Sino-US dispute is escalating. On the other hand, reports of Chinese military deployments on the Ladakh border are signaling a worsening situation. At home, the GST-free price of 10 grams of gold in the Mumbai market, which closed at Rs 50 yesterday, rose to Rs 30,800 today. The price of gold was Rs 30,605 with a price of Rs 30,201. Prices with GST were quoted three per cent higher. Gold has seen a new high. Silver. The price of one kg excluding GST was Rs. Prices were three per cent higher with GST. In the Ahmedabad jewelery market, gold rose by Rs 200 to Rs 200 from Rs 2.50 and Rs 200 from Rs 4.50. Silver also rose by Rs 200 to Rs 21,500 per kg. Gold for immediate deli...

(Commercial Representative) Mumbai, T. 23 July 2020, Thursday The market capitalization of Reliance Industries Ltd, led by billionaire Mukesh Ambani, has crossed Rs 12 lakh crore, with the stock hitting a new record high of Rs 203 today. With this, Reliance Industries has entered the list of 50 most valuable companies in the world and has achieved the 7th position. Oil-to-telecom giant Reliance Industries 'Mukesh Ambani was ranked fifth on Forbes' Real Time Billionaire list yesterday. Reports that Amazon would buy a holding in Reliance Industries' retail unit today set a new record high of Rs 303.50, with the fund's aggressive rise in shares of Reliance, hitting a new record high of Rs 3,050.5. With this, the market capitalization of Reliance Industries crossed the Rs 16 lakh crore mark today and reached a new high of Rs 15,09,8.5 crore. Which crossed the ૮ 161 billion mark. So far, no Indian company has achieved a market capitalization of Rs 15 lakh crore. In terms...

- Chip smart ration card is being issued by the states Ration card is a document issued by the state government. Ration goods are purchased under subsidy through this card. This is a card to be given to Indian families. Which is powered by a public distribution system. Some state governments have expired ration cards for cheap rations. Or it is working in this direction. However, the central government has facilitated the beneficiaries of the new Nation One Card scheme, a new system of public distribution, so that they can buy foodgrains through the old card. Chip smart cards are being issued to cardholders by the states. It is up to you if you want to make a new card instead of the old one. If you want to create a new smart card, you have to visit the portal of your state's food and logistics department. Textures in different states have their own portals. You have to download the ration card form from this portal. Fill the form well and go to the ration dealer or food suppl...

-65 percent sharp increase -Suratis were at the forefront of spending the most New delhi date. Thursday, July 23, 2020 Corona was reported to have seen a sharp rise in sales of sex toys during the lockdown, which began in April this year. According to sources close to the trade, sales of sex toys rose by a whopping 65 per cent. So we still don't have an open discussion about sex there. But privately all talk about sex and enjoy when the opportunity arises. Maharashtra had the highest number of sex toys sold in April, according to a survey conducted by a website called Thatspersonal.com. Twenty-two million users and three million thirty-five thousand products were claimed to be covered in the survey. The survey was titled 'India Uncovered - Insightful Analysis of Sex Product Sale in India'. Maharashtra came first. Most interestingly, Maharashtra, including Mumbai, had the highest number of corona cases. Karnataka came second and Tamil Nadu third. Numerous cases of cor...

New Delhi Dated 23rd July 2020 Thursday The government decided to give a 15 per cent pay hike to the employees of government banks in the Corona era where most of the jobs are not getting adequate pay and people are suffering. They will also be paid incentives based on the quality of work. Most importantly, the 15 per cent pay hike will be implemented from November 2017. Another implication of implementing this increase from November 2017 is that every bank employee will get the benefit of arrears. The various unions of bank employees had long demanded that the bank employees not get the pay hike for a long time. Negotiations were ongoing with the government in this regard. On Wednesday, various unions of bank employees and the Indian Banks Association concluded the 11th phase of negotiations and agreed to give a 15 per cent pay hike to bank employees under an agreement. The pay hike will cost banks a total of Rs 7,988 crore. According to Bloomberg, the pay hike will take effect f...

(Gujarat News Correspondent) Mumbai, Ta. Wednesday 22 July 2020 Tensions between the US and China are rising again with the global rise in the Corona transition. After the US closed the Houston Consulate, China announced a retaliatory move to close the US Wuhan Consulate. The Indian stock markets also overbought today. The resumption of aggressive fund-raising in Reliance Industries has had a positive impact on the stock surpassing the Rs 4,000 level and the attraction in consumer durables stocks with selective buying in banking-finance stocks has halted index-based erosion. The market was also negatively impacted today by estimates that the overall economic growth will decline by as much as 3 per cent as a result of COVID-12 against the expectation of high growth in the agricultural sector due to good monsoon across the country. IT-Software Services, Automobile, Oil-Gas, FMCG, Consumer Durables stocks against profit booking as well as Reliance Industries, the Sensex fell 1.91 points...

(By commerce representative), Mumbai, Ta. Wednesday 22 July 2020 Prices of various imported edible oils rose again today on the back of rising palm oil in the Mumbai Oilseeds market, while prices of cingulum oil and cottonseed oil also rose behind the manufacturing plants. In the global market, palm oil futures in Malaysia rose 19 points, while palm product prices fell by ૨ 2.50 to ૫ 2.50. Total palm oil exports from Malaysia fell by about 10 to 11 per cent in 30 days, SGS sources said. Meanwhile, palm oil prices rose by Rs 20 per 10 kg in the Mumbai spot market today, while crude palm oil (CPO) Kandla was quoted at Rs 3. In the futures market, the CPO's July futures rose by about Rs 10 to Rs 4.30 in the evening, while soyoil's August futures were hovering around Rs 41. In the Mumbai market, cingulum oil was trading at Rs 1,210 today amid a slow recovery, with manufacturers trading at Rs 1,2,15 per kg for Rs 2,050 to Rs 4,050 and cotton washed at Rs 415 to Rs 715. Were. In ...

Mumbai, Ta. Wednesday 22 July 2020 The economic downturn caused by the coronavirus has hit consumers' purchasing power hard. Due to the spread of Corona, passengers are now choosing to come in their own vehicle. But 6 per cent of Indians looking to buy a car in the next six months are considering buying a second-hand car, according to a survey. However, against this, 4% of people want to buy a new car which will be favorable for the country's auto industry. The auto sector has been hit hard by the coronavirus, but demand for second-hand cars has been on the rise since June as the lockdown eased, according to an online survey. For the new car, 6 per cent have a budget of less than Rs 5 lakh, while 5 per cent have a budget of Rs 5 lakh to Rs 7 lakh, the survey said. Fifty per cent of buyers for second-hand cars have a budget of less than Rs 5 lakh, while 20 per cent have a budget of between Rs 4 lakh and Rs 7 lakh. The survey also found that demand for second-hand cars is i...

Mumbai, Ta. Wednesday 22 July 2020 By 205, India's e-commerce sector is expected to grow at an average annual rate of 6 per cent to ૯૯ 6 billion. A report prepared by Goldman Sachs states that the expansion of e-commerce has doubled globally due to Kovid-18. Sales of consumer package goods through e-commerce have increased in three months as much as in three years. "We expect the e-commerce sector to grow at an average annual rate of 6 per cent to ૯૯ 6 billion between 2014 and 2015," Goldman said in his report. Grocery and clothing will be the main factors in this development. The online expansion of retail, which was 7.50 per cent in 2015, is expected to increase to 10.50 per cent by 203. The vote comes in the wake of Reliance Ind's entry into e-commerce and its affiliation with WhatsApp. Facebook has acquired a 5.50% stake in Reliance's subsidiary Geo Platforms. Online grocery stores have been growing at an annual rate of 20% for the past few years, but Co...

Mumbai, Ta. Wednesday 22 July 2020 There are indications that the number of borrowers taking advantage of the moratorium has recently dropped significantly as discussions are underway to extend the moratorium on term loans. However, banks will also need to recapitalize, a report said. Compared to the quarterly results ended March 31, the number of borrowers in the June quarterly results of banks and NBFCs has been declining. However, this is an early sign as the results of several public sector banks are yet to be released. Bankers are wondering if more borrowers will take advantage of the moratorium in the coming days. The term of the existing moratorium is coming to an end on August 31 and only then will the true picture become clear, said a banker. It is also learned that there is a difference of opinion among the banks regarding the extension of the moratorium. Banks are facing a large number of defaults due to the moratorium. The possibility of an increase in NPAs due to defa...

(Commercial Representative) Mumbai, Ta. Wednesday 22 July 2020 The assets of Mukesh Ambani-led Reliance Industries Ltd's shareholders continue to generate extraordinary wealth in the short term. The company's share price crossed Rs 2,000 today, set a new record of Rs 2010 and finally rose by Rs 4.5 to close at a new record high of Rs 2009.10. The market capitalization of investors' assets crossed the mark of Rs 12.50 lakh crore today Was done. With this, the share price has risen by 12.5 per cent from its 52-week low. According to which the shareholders have received this half return in less than four months. Shares of Reliance Industries rose by Rs 4.5 to Rs 2,008.10 today, taking its market capitalization to Rs 19,50,60.05 crore. Reliance Industries' partially paid-up share price also rose by Rs 20.05 to Rs 1,109.5 today. Shares of Reliance Industries hit a 52-week low of Rs 3.50 on March 5, 2020 this year. From the lows, the stock has lost a whopping 12.5 per cent...

(By commercial representative) Ahmedabad, Mumbai, Wednesday The US-China dispute, the seriousness of the coronavirus situation and the fall in the dollar index have led to a sharp rise in gold and silver at home. Ahmedabad silver has seen a rise of more than Rs 2,000 per kg in two days and gold has hit new record prices. Silver futures have also rebounded. Gold in Ahmedabad has risen by Rs 200 today. Domestic silver is trading at a seven-year high while world markets are trading at a new four-year high. The rupee remained bearish against the dollar while the pound remained soft. At home, the price of silver in the Mumbai market, excluding GST of Rs 50 per kg, which had closed at Rs 70 yesterday, jumped to Rs 2,005 today amid widespread buying and finally closed at Rs 4,150. Prices without GST were three per cent higher. Silver has seen an increase of Rs 20 in one day and Rs 2 in two days. Silver September futures crossed Rs 31,000 and touched a high of Rs 4,150 while December future...

New Delhi, July 22, 2020, Wednesday The goddess of fortune was pleased with a miner who worked hard even during the lockdown and became a millionaire overnight. It is about a miner named Anandilal Kushwaha. Anandilal was working in a diamond mine in Panna area of ​​Madhya Pradesh. While he was digging as usual on Tuesday, he stumbled and fell. The setback became a permanent memento for her, said RK Pandey, manager of the Panna mine. Anandilal found a diamond that weighed 10.69 carats. To date, the diamond can be sold in the diamond market for a minimum of Rs 50 lakh, said a diamond fan. Thus for Anandilal this stumbling block was becoming a fortune teller in the blink of an eye. The diamond, valued at Rs 50 lakh to Rs 1 crore, was found in a shallow diamond mine in Ranipur, 15 km from the Panna district headquarters. Anandilal had deposited this hero in the office as per the rule. As a rule this hero will now be put up for auction. Anandilal will get the remaining amount after de...

(Gujarat News Correspondent) Mumbai, Ta. 21 July 2020, Tuesday As the world continues to be plagued by the Corona virus epidemic, reports from healthcare-pharma giants around the world of efforts to find a vaccine to prevent the spread of the virus, as well as good monsoon progress across the country, have outpaced Corporate India's overall expectations. Was kept. On the global front, the European Union (EU) has agreed to a ફ 60 billion recovery fund-massive stimulus scheme, with a surge in markets in Europe and a strong impact in Asia-Pacific. The European Union's stimulus package also boosted international crude oil prices on expectations of accelerating global industrial-economic recovery. Along with renewed aggression in oil and gas stocks in Indian stock markets, banking-finance stocks as well as power-capital goods stocks along with automobile stocks surged by 211.5 points to 30.3 and the Nifty closed at 120.01 points. Were. The US dollar had lost 12 paise to Rs 2.7 aga...

(By commerce representative), Mumbai, Ta. 21 July 2020, Tuesday The Mumbai Oil and Gas Market witnessed mild weather today with prices of various domestic and imported edible oils. Manufacturing establishments as well as world market news showed a decline from high headlines. Besides, new demand in the Mumbai market was also slow today. In Malaysia, palm oil prices, which had risen to a five-month high in Malaysia, fell 12 points in futures today, while palm product prices were reported to be in the range of ઢ 2.5 to પાંચ 5. However, in the first 20 days of July, palm oil production fell by about 15 per cent. Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil was quoted at Rs 1,200 to Rs 1,210, while the price of 10 kg of cingulum oil was quoted at Rs 1,50 to Rs 1,2, 15 kg to Rs 4,010 to Rs 4, 070 and cotton washed from Rs. 610 to Rs. Imported palm oil was trading at Rs 715 in the Mumbai market today. While the price of crude palm oil (CPO) Kandla was q...

(Commercial Representative) Mumbai, Ta. 21 July 2020, Tuesday Bajaj Finance Ltd, the country's leading finance company, posted a net profit of Rs 3.7 crore for the first quarter ended June 30, 2020, down 19.20 per cent year-on-year. It was Rs 114.5 crore in the same period last year. The company's AUM-asset under management rose seven per cent to Rs 1,2,08 crore. Rahul Bajaj, the current chairman of Bajaj Finance, has decided to resign at the end of this month, the company said in a statement. The company's consolidated moratorium book stood at Rs 31,606 crore (12.5 per cent of AUM). Which was 9 per cent of the AUM as on April 30, 2020, i.e. Rs 4.5 crore. The company has made an additional contingency provision of Rs 150 crore for Covid-15 this quarter. With this, the total contingency provision has become Rs 30 crore as on June 30, 2020. The company has a liquid surplus of Rs 12,600 crore. The company's total non-performing assets (NPAs) fell to 1.50 per cent from ...

Mumbai, Ta. 21 July 2020, Tuesday The country's gold imports are expected to fall by 50 per cent in the current calendar year to a 15-year low due to the impact of the coronavirus and higher prices. The outbreak of coronavirus in the country has had a serious impact on gold imports and demand since March. Gold prices have also risen in recent days as the global financial crisis has turned to investing in funded gold. Gold imports are expected to touch 40 tonnes in the current year, which will be the lowest level since 2006, an analyst said. Lockdowns and epidemics have hit the country's jewelery industry and the demand arithmetic has changed. Recent figures show that those who are interested in gold are investing in ETFs and gold bonds instead of spot gold. Due to the economic downturn, some people are selling gold to raise liquidity or putting it as collateral. Gold has returned more than 15 per cent to investors this year amid sluggish demand. In 2016, the country's ...