Market and Business News

(Gujarat News Correspondent) Mumbai, Ta. 25 August 2020, Tuesday Amid signs of good progress in the resumption of trade deals between the US and China and rising business confidence in Germany, Asian-based markets rallied today, with Indian-backed banking-finance stocks steadily rising. On the one hand, the monsoon has been very successful across India, on the other hand, due to concerns over heavy rains in some parts of the country and before the end of the August trend in derivatives on Thursday, players, some funds also chose to ease the overboat position. Profit bookings were made in FMCG, pharma-healthcare, IT-software frontline stocks as well as metal-mining, oil stocks. At the end of the two-day volatility, the BSE benchmark Sensex gained 2.50 points to close at 7.8 and the Nifty spot rose 2.50 points to close at 114.5. Sensex plunges 3 points, rises 3 points in 2008 Trading started strong today. State Bank of India, ICICI Bank, Bajaj Finance, Bajaj Finserv, Axis Bank, Indus...

(Gujarat News Correspondent) Mumbai, Ta. 25 August 2020, Tuesday Amid signs of good progress in the resumption of trade deals between the US and China and rising business confidence in Germany, Asian-based markets rallied today, with Indian-backed banking-finance stocks steadily rising. On the one hand, the monsoon has been very successful across India, on the other hand, due to concerns over heavy rains in some parts of the country and before the end of the August trend in derivatives on Thursday, players, some funds also chose to ease the overboat position. Profit bookings were made in FMCG, pharma-healthcare, IT-software frontline stocks as well as metal-mining, oil stocks. At the end of the two-day volatility, the BSE benchmark Sensex gained 2.50 points to close at 7.8 and the Nifty spot rose 2.50 points to close at 114.5. Sensex plunges 3 points, rises 3 points in 2008 Trading started strong today. State Bank of India, ICICI Bank, Bajaj Finance, Bajaj Finserv, Axis Bank, Indus...

(Gujarat News Correspondent) Mumbai, Ta. 25 August 2020, Tuesday Amid signs of good progress in the resumption of trade deals between the US and China and rising business confidence in Germany, Asian-based markets rallied today, with Indian-backed banking-finance stocks steadily rising. On the one hand, the monsoon has been very successful across India, on the other hand, due to concerns over heavy rains in some parts of the country and before the end of the August trend in derivatives on Thursday, players, some funds also chose to ease the overboat position. Profit bookings were made in FMCG, pharma-healthcare, IT-software frontline stocks as well as metal-mining, oil stocks. At the end of the two-day volatility, the BSE benchmark Sensex gained 2.50 points to close at 7.8 and the Nifty spot rose 2.50 points to close at 114.5. Sensex plunges 3 points, rises 3 points in 2008 Trading started strong today. State Bank of India, ICICI Bank, Bajaj Finance, Bajaj Finserv, Axis Bank, Indus...

(Gujarat News Correspondent) Mumbai, Ta. 25 August 2020, Tuesday Amid signs of good progress in the resumption of trade deals between the US and China and rising business confidence in Germany, Asian-based markets rallied today, with Indian-backed banking-finance stocks steadily rising. On the one hand, the monsoon has been very successful across India, on the other hand, due to concerns over heavy rains in some parts of the country and before the end of the August trend in derivatives on Thursday, players, some funds also chose to ease the overboat position. Profit bookings were made in FMCG, pharma-healthcare, IT-software frontline stocks as well as metal-mining, oil stocks. At the end of the two-day volatility, the BSE benchmark Sensex gained 2.50 points to close at 7.8 and the Nifty spot rose 2.50 points to close at 114.5. Sensex plunges 3 points, rises 3 points in 2008 Trading started strong today. State Bank of India, ICICI Bank, Bajaj Finance, Bajaj Finserv, Axis Bank, Indus...

(By commerce representative), Mumbai, Ta. 25 August 2020, Tuesday The Mumbai Oil and Gas Market witnessed mixed weather today amid rising prices of various domestic and imported edible oils. Prices of cottonseed oil were higher, while imported edible oils were spotted behind the world market and softer in the futures market. In the global market, palm oil futures fell 41 points in Malaysia today, while palm product prices were reported to be softening by ૫ 6 to ૫ 2.50. There were indications that prices in the US agricultural markets remained in the projection this evening. Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil rose by Rs 1,20 today, while that of cottonseed oil rose by Rs 305. Producers reported that the price of cingulum oil was Rs 1,20 to Rs 1,2, 15 kg was Rs 1,50 to Rs 1,20 and cotton washed was Rs 50. In the Mumbai market, imported palm oil was down by Rs 5, while crude palm oil (CPO) Kandla was down by Rs 20. In the futures market, CPO futu...

(By commercial representative) Mumbai, Ta. 25 August 2020, Tuesday Amid reports of improving US-China trade relations, domestic gold and silver prices remained on the back of global markets. The dollar saw stability after heavy turmoil. Slow recovery in crude oil continued. At home, the GST-free price of 10 grams of gold in the Mumbai market, which was Rs 31,601 yesterday, closed at Rs 319 today. Gold was trading at Rs 715 against Rs 8,005 in 2008. Prices with GST were quoted three per cent higher. The price of silver was Rs 305 per kg excluding GST. Prices with GST were quoted three per cent higher. In the Ahmedabad market, silver fell by Rs 2,000 to Rs 2,000 per kg, gold by Rs 2.50 per 10 grams to Rs 500 and by 3.50 per 10 grams to Rs 2,000. Gold fell by Rs 500. The fall in the price of precious metals in the world market has led to lower domestic prices. Gold was trading at ૯૨૬ 17 an ounce, down 150, while silver was trading at 2.50 an ounce, down ડો 2.50. Platinum was trading...

Mumbai, Ta. 25 August 2020, Tuesday Onion prices have almost doubled in the last three months. Onion prices have risen in the wholesale market in South India due to heavy rains, lockdowns, supply disruptions and shortage of goods. In Lasalgaon wholesale market, the price of onion has gone up to Rs 15 per kg. Prices in other markets are even higher. Lack of farm labor was also becoming a concern for farmers. The price of good quality onions is hovering around Rs 50 per kg due to heavy rains, said a local trader. The National Agricultural Cooperative Marketing Federation (NAFED) has set a target of purchasing one lakh tonnes of onions in the current year. The target was set to maintain price stability, NAFED sources said. The target is almost complete. Due to the lockdown, the demand for onions from hotels has come down drastically and the farmers were frustrated and sold their produce, which has now disrupted the supply of onions. Farmers do not specialize in onions as they spoil...

Mumbai, Ta. 25 August 2020, Tuesday Despite the effects of the coronavirus, the country is showing signs of improving its business climate. It is claimed that the number of registrations of new companies is increasing in August after July. The formation of a new company in July hit a seven-year high. According to figures released by the Ministry of Corporate Affairs, 12 new companies were formed in July. The figure is at a seven-year high. Earlier, 204 companies were formed in January 2016. Compared to July last year, the figure for July this year is fifty per cent higher. The number is also on the rise in August, ministry sources said. Not only new companies but also Limited Liability Partnership (LLP) registration is on the rise. However the exact August figure will be made available at the end of the month. Maharashtra has the largest number of companies in the country, followed by Uttar Pradesh. The data shows that the business mood is improving after a period of lockdown in ...

Mumbai, Ta. 25 August 2020, Tuesday According to an SBI report, the country's states will experience a revenue shortfall of Rs 3 trillion in the current financial year due to the slow recovery of the economy and declining revenue as a result of the Corona epidemic. In addition, the state's coffers are expected to be hit by an estimated Rs 2.50 trillion in the current financial year, given the reduction in the share of revenue through central taxes and the additional costs of corona control. The combined revenue from GST, value added tax, stamp duty and other sources showed a loss of Rs 1.50 trillion to the states in the June quarter. This is an annual figure of Rs 3 trillion, according to the bank's report. Thus, in the current financial year, the states will have to pay a total of Rs 2.50 trillion. To compensate for the revenue shortfall, the states will carry out 3% more borrowings this year as compared to last year. States may also be forced to cut their capital spen...

New Delhi, 25 August 2020 Tuesday The Reserve Bank of India (RBI-Reserve Bank of India) has released its annual report for 2019-20 (July-June). The report said economic activities have been affected by the COVID crisis. This has affected the production and supply chain. Further reforms are needed due to slower investment. The economy has been affected by slow economic activity. The RBI's 2019-20 annual report focuses on increasing investment and reform. In the report, the RBI said the second quarter would also see an impact on economic activity. Corona has disturbed the production and supply chain. Recovery will come from increased public and private consumption. The Reserve Bank has called for reforms in investment. The RBI said in the report that it needs to invest ડા 4.5 trillion in infrastructure by 2040. According to the report, total gross income in 2019-20 was Rs 1.50 lakh crore. Total gross income for the period fell to Rs 1.50 lakh crore from Rs 1.95 lakh crore in the ...

New Delhi, 25 August 2020 Tuesday Supreme Court Judge Justice D.Y. Chandrachud and K.M. A bench of Joseph has asked DLF Southern Homes Pvt Ltd and Annabel Builders & Developers Pvt Ltd to pay 6 per cent interest on the price of the flat to the flat buyer every year. Both these builders are building flats in Bengaluru. The bench said builders would pay interest to buyers whose flats have been delayed for two to four years. Southern Homes Pvt Ltd is now known as BEGUR OMR Homes Pvt Ltd. The apex court also quashed the July 2, 2019 order of the NCDRC dismissing the complaint of 339 flat buyers stating that they were not entitled to compensation in excess of the amount stipulated in the flat purchase agreement in case of delay or non-availability of futures facilities. A bench of the apex court said that the builder would pay a penalty of Rs 5 per square foot for delay in delivery of the flat. At the same time, builders will now have to pay 6 per cent interest per annum to the fla...

New Delhi, 25 August 2020 Tuesday The Narendra Modi government is preparing to make a big announcement for the working class. According to sources, ESIC will soon be able to avail the benefits even if the salary is more than Rs 21,000. ESIC is preparing to change the rules to relieve as many workers as possible in the crisis of corona. The rules of medical and financial aid will be changed accordingly. According to the proposal submitted for it, the facilities will be available despite a salary of more than Rs 21,000. Those earning up to Rs 30,000 will also get the benefit of ESIC, sources said. The Ministry of Labor has started preparations to change the rules. Those with higher salaries will have the option to join the scheme. Financial assistance in case of unemployment will be provided within the prescribed limits. A proposal will be sent to the ESIC board shortly. Union Labor Minister Santosh Gangwar last week said that the application for unemployment benefit under the Emplo...

(Gujarat News Correspondent) Mumbai, Ta. 24 August 2020, Monday Global markets today rallied behind Europe in hopes of a world-wide cure for the corona virus treatment and the positive development of China's vaccine. With US President Donald Trump taking a lukewarm stance on US companies doing business with Chinese companies in anticipation of improving US-China relations and rising global crude oil prices amid global industrial recovery, the stock market also rallied in Indian stock markets today. Did. Along with banking-finance stocks, the fund's power-capital goods, pharma-healthcare and consumer durables stocks were also favored, with the Sensex moving towards 7,000 and the Nifty moving towards 11,500. As the monsoon in India has been very successful this year, fund stocks rallied all round in anticipation of the country's economy picking up fast after coming out of the Corona era with high growth in the agricultural sector this year. Funds in small, mid-cap stocks, h...

(By commerce representative), Mumbai, Ta. 24 August 2020, Monday Prices of various domestic and imported edible oils in the Mumbai Oilseeds market today fluctuated amid mixed weather with two-way narrow fluctuations. New demand was slow, with world market news also waiting in line for edible oils. Palm oil prices fell in Malaysia today, while soybean oil, soybean and soymeal prices were reported higher in the US agricultural markets this evening. Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil rose by Rs 1,20 and cottonseed oil by Rs 5 per kg, while the prices of cottonseed were quoted at Rs 20 to Rs 5 per kg, while the price of cingulum oil rose by Rs 1.8 per 10 kg. And there was news of 15 kg being Rs 1,50 to Rs 1,50. In the Mumbai market, imported palm oil was trading at Rs 70 today, while crude palm oil (CPO) Kandla was trading at Rs 8. In the futures market, CPO prices were at Rs 5 in the evening, while soyoil futures were at Rs 20. In the Mumbai spot...

Mumbai, Monday CDSLA has decided to reduce the charge for margin pledge / margin unpledge for investors and now Rs. Will take charge. While only Rs.1 / - will be charged for each margin replacement or unplage of margin replacement. This will reduce the charge for such margin pledge / replacement transactions by up to 21 per cent from the current rate applicable to other pledge transactions. SEBI's circular dated February 8, 2020 suggested a new margin mortgage system in which the shares in the investor's account could be mortgaged to the account of the trading member and thus to the account of the clearing members and clearing operations. This arrangement will ensure that the security does not need to be transferred from the investor's account to the account of the trading members or clearing members for the purpose of mortgaging the securities of the clearing corporation for the purpose of margin as per the existing risk control system. At present, Rs. 15 and Rs. Char...

(By commercial representative) Mumbai, Ta. 24 August 2020, Monday The first day of the week saw a mixed flow in gold and silver at home. The Mumbai market witnessed a rise in gold prices while silver declined. The rupee strengthened. Concerns over supply disruptions in crude oil led to an improvement in prices. The GST-free price of 10.50 per ten grams of gold, which was Rs 215 last week, was Rs 31,601. The price of ten grams of gold at Rs 2.50 was Rs 715 at Rs 2,005. Prices with GST remained three per cent higher. The price of Mumbai silver rose from Rs 4 to Rs 205 per kg. Prices with GST were quoted three per cent higher. In the Ahmedabad market, silver was trading at Rs 2,000 per kg. Gold at Rs 2.50 per ten grams was Rs 200 while the price of 5.50 was Rs 200. The price of an ounce of gold in the world market was ૯ 1,215 to ૯૫ 150. Silver was trading at ૯ 2.50 an ounce, up from 2.50 an ounce. Platinum was trading at ૯૩૮ 6 with ૩ 203, while palladium was trading at ૨ 2181 an ounc...

Mumbai, Ta. 24 August 2020, Monday India should not provide any concessions to the US agriculture and dairy sector in the ongoing limited trade agreement with the US and in the subsequent proposed trade agreement. Some experts are of the opinion that cheap dairy products will be a lifeline for Indian farmers. In India, the dairy and agriculture sector is not a trade but the livelihood of millions of people depends on it. The US dairy sector receives વર્ષે 5 billion a year in subsidies. Concerns were raised at a webinar on the Indo-US trade agreement on how Indian farmers could compete with these cheaper products if they started coming to India. The US is seeking relief from India in a small bilateral free trade agreement on dairy products, including milk powder. The trade deal is set to be finalized soon, Commerce Minister Piyush Goyal said recently. The US wants India to immediately reduce tariffs on some agricultural products besides apples, soybeans, soybeans and almonds. Indi...

Mumbai, Ta. 24 August 2020, Monday The Securities and Exchange Board of India (SEBI), the regulator of the capital market, is likely to review the measures taken on March 30, 2020 to curb volatility in the market by the end of this month. With the market volatility index now hovering at 40 and it is at a normal level, SEBI is likely to remove the measure. It may be mentioned that when the Kovid-12 epidemic started spreading in March, the market was in a state of panic. At that time, the regulator of capital and commodity markets, Sebi, had announced measures to curb market volatility, making it difficult for short selling in stocks. These measures came into effect on March 4 and are now likely to end on August 4. One of the steps taken by SEBI at that time was to review the market wide position limit, the other was to increase the market wide position limit for stocks to 50 per cent with criteria in the F&O segment. Third, the daily average high-low price difference percentage...

New delhi date. 24 August 2020, Monday The portal, which was launched by the government 40 days ago to provide employment, has so far registered an estimated 4 million people for employment, out of which only 200 have been provided employment. The Centre's Skill Development and Entrepreneurship has launched an Artificial Intelligence (AI) based self-employed Skilled Employee-Employer Mapping Portal on July 10. Out of the total registrations, offers were sent to 1.5 lakh people but in reality the number of recipients was only 300. The portal was launched with the aim of bridging the gap between supply and demand of skilled workforce by creating a source of information, government sources said. The majority of those registering for employment are tailors, electricians, sewing machine operators, courier delivery executives. According to the information provided in the portal, there is a widespread shortage of workers in states like Haryana, Delhi, Tamil Nadu, Karnataka. 418 com...

New Delhi, 24 August 2020 Monday Oil companies on Monday hiked petrol prices again. The price of petrol has been rising steadily for the last five days. On Monday, the price of petrol in Delhi rose by 13 paise to Rs 81.62 a liter. Gasoline prices have risen on all but one day in the past week. But there has been no change in the price of diesel. Diesel prices have risen sharply in the past month. In the last nine days, petrol has gone up by about Rs 1.19. Today's prices in major cities After the hike on Monday, petrol in Delhi has gone up to Rs 81.62 a liter and diesel to Rs 73.56 a liter. In Mumbai, petrol is priced at Rs 88.28 a liter and diesel at Rs 80.11 a liter. In Chennai, petrol is priced at Rs 84.64 per liter and diesel at Rs 78.86 per liter. In Kolkata, petrol is priced at Rs 83.13 a liter and diesel at Rs 77.06. Why prices are rising It may be mentioned that during the lockdown, the government had increased the tax on petrol-diesel, after which the prices went up....