Market and Business News

Mumbai, 26 September 2020 Saturday Mukesh Ambani-owned Reliance Retail has received Rs 7,500 crore from US private equity firm Silverlake Partners. Instead, Reliance Retail has sold its 1.75 per cent stake. Silver Lake, a subsidiary of Industries, has already bought a stake in the Reliance Jio platform for 35 1.35 billion, or about Rs 10,000 crore. The company has increased its investment in the Jio platform in two installments. Although US equity firm KKRA has also announced an investment of Rs 5,550 crore in Reliance Retail, KKRA, like Silver Lake, is the second investment in the Reliance Industries Group. US equity firm KKR has invested 1.5 1.5 billion (about Rs 11,367 crore) in the platform. According to various reports, social media site Facebook has invested about Rs 45,000 crore on the Geo platform as well as about 10 per cent stake in Reliance Retail. However, Amazon will be betting on Reliance Industries for the first time.

Mumbai / London, Ta. 26 September 2020, Saturday Anil Ambani of Reliance Group, once considered one of the richest families in the country, is in dire financial straits. "I was paying the lawyers' fees by selling the family's jewelery," he said in response to a court request for details of his assets. I have nothing but a car now. My family was supported by other relatives. I have nothing left now "I have nothing left now," Anil Ambani pleaded in a court in England on Friday to address his financial woes. There is only one car. I was living life like a normal man. Anil Ambani himself appeared before the Superior Court in London on Friday in a case of non-payment of debts of Chinese companies using a video link. The court questioned him for three consecutive hours. "Between January and June this year, I had to sell family jewelery worth Rs 9 crore 90 lakh to cover legal costs," Anil said. Presented by chewing the talk of wealth Anil told the ...

New delhi date. September 26, 2020 Mustard oil has been found in the market with confusion till date. The central government has decided that only pure mustard oil can now be sold. About 20 per cent of the oil available in the market was allowed to be added to edible oil. In Gujarat, it is allowed to add another 20 per cent oil to groundnut in this way. Oil traders are also questioning whether it will be withdrawn. The government has also notified FSSAI for this. These new guidelines will be implemented from 1 October. Mustard oil prices have skyrocketed in recent times. In such a situation, secondary food is more likely to be mixed. The government has taken this step to stop it. FSSAI has taken more than 4,500 samples. The Food Safety Regulator, FSSAI last week collected more than 4,500 samples of edible oils from several cities in the country. These samples have been sent for investigation. The decision has since been made.

For more than 50 thousand payments, more details have to be given -Check will be done before paying the amount to the party New Delhi Dated 26th September 2020 Saturday From the first day of next year 2021, the system of paying by check was changing. Right now someone gives a check to someone who has to pay. From January 1, there were some changes in the system of payment by check. Everyone needs to know that. It was called the Positive Pay System. Important information will be required, especially when paying more than fifty thousand rupees. For this, the person issuing the check will have to provide additional information related to the check through means like SMS, mobile app, internet banking or ATM. Before paying the amount to the party in whose name the check is issued, the bank will once again inquire about the name of the person to be paid and the amount written in the check to confirm that the person presenting the check is the same person in whose name the check is writt...

- Jewelry has to be sold for legal expenses New Delhi Dated 26th September 2020 Saturday Anil Ambani of Reliance Group, once considered one of the richest families in the country, is in dire financial straits. "I was paying the lawyers' fees by selling the family's jewelery," he said in response to a court request for details of his assets. I have nothing but a car now. My family was supported by other relatives. Speaking to a court in England about his financial woes, Anil Ambani pleaded on Friday that he had nothing left. There is only one car. I was living life like a normal man. Anil Ambani himself appeared before the Superior Court in London on Friday in a case of non-payment of debts of Chinese companies using a video link. The court questioned him for three consecutive hours. "Between January and June this year, I had to sell family jewelery worth Rs 9 crore 90 lakh to cover legal costs," Anil said. Anil told the court that the media had spread ...

Mumbai, Ta. 25 September 2020, Friday The negative outlook for non-banking finance companies (NBFCs) and housing finance companies (HFCs) has been maintained for the last six months of the current financial year, India Ratings said. Growth in NBFCs' asset under management will remain steady, which was earlier projected at 5 to 10 per cent per annum. In addition, the rate for HFCs will be lower in single digits. "We maintain a negative outlook for NBFCs and HFCs due to trade disruptions caused by Kovid-18," the agency said in a report. Given the way the virus is spreading across the country, it will take a long time for NBFCs to return to normal. The liquidity and funding environment for companies with good ratings has improved since July, however, the issue of asset quality which continues to affect profitability in the current financial year and beyond will continue. Capitalization of these sectors is at a practical level as credit growth is slow, which will allow ...

Mumbai, Ta. 25 September 2020, Friday After Life Insurance Corporation of India (LIC), Bharat Petroleum Corporation Ltd. The disinvestment plan in (BPCL) is likely to be extended till the next financial year. The disinvestment program will not be able to go ahead as per the budget expectations and it will be difficult for the government to control the fiscal deficit in the current financial year. The government has come up with a special plan to sell its stake in some of the major companies to keep the fiscal deficit low. The fiscal deficit target has been breached in just four months of the current financial year. The government plans to raise ૯ 8-10 billion by selling its stake in BPCL. Given the expectation of a significant slowdown in the country's economic growth in the current financial year, delays in the disinvestment program of government undertakings will pose an obstacle to the exercise of raising additional funds, finance ministry sources said. The government had ...

(By commercial representative) Mumbai, Ta. 25 September 2020, Friday The recession has come to a halt as gold and silver continue to decline at home behind the world market. The tariff value used as a benchmark for collection of gold and silver import duty in the country has been announced today with a significant reduction in the tariff value of silver. The world market has seen a five per cent decline in gold this week. After a two-day decline, the country's stock markets rebounded and the rupee strengthened. Crude oil saw a softening over the weekend. At home, the GST-free price of 10 grams of gold in the Mumbai market, which was Rs 6 yesterday, rose to Rs 5 and closed at Rs 4 today. Gold was trading at Rs 8.20, up from Rs 4, to close at Rs 4, 2013. Prices with GST were quoted three per cent higher. Silver. The price of one kg excluding GST was Rs. Prices with GST were quoted three per cent higher. In the Ahmedabad market, silver rose by Rs 200 to Rs 200 per kg, while gold ...

Mumbai, Ta. 25 September 2020, Friday The coronavirus may have swept most of the country, but the pharma industry has been spared the impact and the pharma industry could achieve double-digit growth in exports in the current financial year, a report said. Rating agency Crisil expects the pharma sector to see an 11-14 per cent increase in exports in the current financial year as against 10 per cent in the previous fiscal. The growth rate in domestic formulations is expected to be 3 to 4 per cent, up from 10 per cent in the previous financial year. Thus, the overall growth rate of the pharma industry is projected to be 3 to 4 per cent in the current financial year, according to the report of the rating agency. The operating profits of the 20 pharma companies rated by Crisil will be as low as 1.5 per cent, but they will still see strong growth of 12 per cent. This growth is being seen despite the high prices of raw materials. Their credit profile will continue to be supported by the...

Mumbai, Ta. 25 September 2020, Friday Under the Emergency Credit Line Guarantee Scheme, public sector banks have so far sanctioned loans of Rs 1.5 lakh crore to micro, small and medium enterprises (MSMEs), but out of this, Rs 1.5 lakh crore has been disbursed to 4.5 lakh MSME units. Said. Loans have been sanctioned to 3.50 lakh units which have come under pressure due to Corona. The government has announced a self-sufficiency package of Rs 20 lakh crore in May to help various sectors of the country's economy that have come under strain due to Corona. The loans were disbursed by 12 public sector banks, six private banks and 21 NBFCs, finance ministry sources said. SSMEs with a turnover of up to Rs 50 crore are covered under this scheme. Under this scheme, loans of Rs. 216 crore have been released to 8 individual entrepreneurs.

(By commerce representative), Mumbai, Ta. 25 September 2020, Friday In the Mumbai oil and grease market, prices of various imported edible oils rose sharply today, while domestic edible oils remained firm. The hawala resale traded at around 400-50 tonnes today on lower demand in palm oil. World market news was also encouraging, with manufacturers reporting that prices of domestic edible oils, such as cingulum and cottonseed oil, have risen sharply. Meanwhile, near-term palm oil futures in Malaysia rose 31 points today, with prices of palm products rising by ૭ 2.50 to ૦૦ 10.00. World palm oil exports from Malaysia are projected to grow by about 5 to 12 per cent in the first three days of September, according to world market analysts. Demand from China also increased on the back of low headlines in Malaysia. However, the sharp fall in palm oil prices in Malaysia this week was the biggest weekly drop in the last three months, analysts said. Meanwhile, palm oil prices rose by Rs 3 per...

(Gujarat News Correspondent) Mumbai, Ta. 25 September 2020, Friday As the Corona transition has crippled the global economy, economic concessions have become inevitable to re-establish trade-offs and stem the rising tide of unemployment. Stimulus package to be announced soon The gaps in the stocks were filled. Funds in Indian stock markets rallied broadly today with short covering in all-round stocks in anticipation of the Modi government's announcement of stimulus measures tomorrow. Of course, on the global front, economic recovery in the United States is becoming difficult, and concerns over the resurgence of Corona cases in European countries have led to a softening in the United States and European markets. Funds in local stocks rebounded today, led by IT-software services stocks. Along with this, automobile, banking-finance, pharma-capital goods, FMCG, metal, consumer durables, oil-gas stocks rose by 7.05 points to close at 4.5 and Nifty spot. Were living. FII-FPIs have seen...

Ahmedabad. 24 September 2020, Thursday With global investors and funds withdrawing their investments in other assets, including precious metals, on the back of the possibility of a second phase of the global Corona epidemic, new challenges, including fears of a slowdown in the global economy once again this week. The stock market as well as gold-silver gaps have eroded crores of rupees from investors. Corona transition has once again increased in the United States as well as in various countries in Europe. India is no exception. On the other hand, the uncertainties prevailing in the United States in presenting the post-epidemic relief package also had an adverse effect on the market. In addition, a cautious approach is being taken on the issue of the upcoming US presidential election. In the midst of this unfavorable environment, investors turned away from gold-silver as well as other assets and the dollar index rose to a two-month high of 2.50. According to analysts, the dollar is...

(By commercial representative) Mumbai, Ta. 24 September 2020, Thursday The downturn in the precious metal at home behind the world market continued. Gold and silver prices in the world market have seen a two-month low. Gold has retreated as much as 3 from its recent highs. Silver has also suffered a major setback. The rupee weakened against major global currencies while crude oil recovered slowly. At home, the GST-free price of 10.50 gold per ten grams in the Mumbai market, which was Rs 1,015 yesterday, fell to Rs 4 today. The gold price was seen at Rs 305 with a price of Rs 305. Prices with GST were quoted three per cent higher. Silver. The price of a kilogram was Rs. Prices with GST were quoted three per cent higher. In the Ahmedabad market, silver fell further by Rs 1,200 to Rs 2,000 per kg. Gold fell by Rs 50. Gold closed at Rs 30,600 per ten grams and Rs 21,000 at Rs 9.50 per ten grams. In Ahmedabad, silver has lost Rs 200 in four days. Traders are expecting festive demand at ...

Mumbai, Ta. 24 September 2020, Thursday The epidemic of Kovid-12 has turned consumers around the world, including India, towards shopping and cashless. In a survey conducted by Standard Chartered Bank in major countries of the world, 4% of respondents said that Corona has made them more positive for online shopping. The survey, conducted in 12 countries, found the highest number of positive Indians for online shopping. Of the total Indians who took part in the survey, 4 per cent said they were more positive about online shopping now than before Corona. However, consumers around the world, including in India, have become more cautious about their spending and are looking for new ways to digitally focus on their finances. A total of 15,000 people from all over the world took part in the survey. The predominance of online shopping has increased in India. Before the epidemic, 6 per cent of consumers who preferred online shopping to personal shopping have now risen to 5 per cent. This ...

Mumbai, Ta. 24 September 2020, Thursday From April to June this year, foreign direct investment (FDI) equity inflows in the country fell by 20 per cent year-on-year to ૬ 2.3 billion, according to figures from the Department for the Promotion of Industry and Internal Trade. In 2016, the figure was ૬ 12.5 billion. The services sector topped the list with foreign investment inflows in the first quarter of the current financial year, at 1.15 billion. The investment in computer software and hardware stood at ૬ 1.08 billion. Telecommunications has a figure of two million dollars. FDI inflows in automobiles stood at 2.6 billion and in trading at ૪૨ 2.50 million. The country saw the highest FDI inflows through Singapore in the first quarter at ડો 1.5 billion. The Netherlands has invested ૧ 1.05 billion and Mauritius has invested ૯ 500 million. The highest recipients of FDI are Maharashtra, Karnataka, Delhi, Gujarat and Jharkhand. A massive reshuffle in the country's infrastructure se...

(By commerce representative), Mumbai, Ta. 24 September 2020, Thursday In the Mumbai Oilseeds market today, the prices of various domestic and imported edible oils were on a downward trend. Buyers were the new business wing, staying away from the market, waiting for stability in the declining market. On the other hand, news of manufacturing establishments and world markets were showing a new bang. As a result, edible oil futures fell today and bearish circuits have taken effect as futures continue to be sold at home and in the futures market, sources in the futures market said. In Malaysia, meanwhile, palm oil futures were down another 106 points today, with palm oil prices falling between ૫ 6 and ૭ 2.50. Prices were trading at a three-week low. Meanwhile, in the Mumbai spot market, 10 kg of Gabdi Singtel was quoted at Rs 1,50 to Rs 1,50 today, while cottonseed oil was quoted at Rs 80 lower. Producers were quoted at Rs 1,50 to Rs 1,20 per kg of cingulum oil, Rs 1,50 to Rs 1,50 per 15...

(Gujarat News Correspondent) Mumbai, Ta. 24 September 2020, Thursday The September trend in derivatives in Indian stock markets ended with a bang today. Indian markets, which have long been overbought, were on the brink of global turmoil today. Corona epidemic shakes the world Corona's new wave has raised concerns in many countries, with the US Federal Reserve warning of the need for more support for economic recovery as the world deteriorates on the economic front, with US stocks trending in Europe today. But the bang was spoken. The US dollar also rose sharply against the rupee today, with a sharp rise in the value of the US dollar against global currencies. With the state of the home economy deteriorating day by day, the government is forced to borrow from the Reserve Bank of India and the banks are in a state of disarray, with the Shapoorji Palonji Mistry family exiting the Tata Sons and parting ways with Tata today. The next day, TCS, Tata Steel followed by Tata Group stocks...

New Delhi, 24 September 2020 Thursday The Indian stock market witnessed a sell-off on Thursday, with all the stocks, big and small, collapsing in the storm, the recession taking over the entire market, the sixth consecutive sell-off in the stock market. Indian stock markets were also washed away in the downturn of foreign stock markets and further pressure was put on the market under the China-Corona concern. The Sensex-Nifty saw a sharp fall of 3-3% in Thursday's session. The BSE index fell 1,115 points to 36,554 and the Nifty 50 index closed at 10,805, down 326 points. Thursday was the September futures expiration and the 300-point crash seen on the day of the expiration was the biggest expiry daily decline in the last 9 years. The stock market also saw a sharp decline on Monday this week, which has alarmed investors. There are many reasons for the decline, with the US Federal Reserve's statement indicating that the situation in the world's largest economy is very f...

- More than two crore people were from India New Delhi, 24 September 2020, Thursday The Corona virus has claimed the lives of 50 million people worldwide, according to a survey. The International Labor Organization (ILO) report claims that the corona virus has left 500 million people unemployed worldwide. In India alone, more than two crore people lost their livelihood. However, if we talk about India enough, this figure could be even higher. Earlier, the Center for the Monitoring of Indian Economy (CMIE) had published a report stating that India's unemployment rate was high. According to the ILO, the Corona virus caused more damage than expected. The economies of most countries around the world were adversely affected. In this, developing countries and poor countries were killed. The ILO says the actual damage was much higher than the figures that are coming out. Working over during the second quarter of 2020 was seventeen percent lower than at the end of 2019. According to...