Market and Business News

Mumbai, 26 October 2020 Monday More than 40 per cent of loans taken from banks and financial institutions and 75 per cent of borrowers will benefit from the decision to provide relief from compound interest. So, this decision will increase the burden on the exchequer by about Rs 7,500 crore. That is stated in a report. The government had told the Supreme Court last Friday that it would waive compound interest on loans up to Rs 2 crore. Under this, banks will be provided the amount of the difference between compound interest and plain interest. He said that all the borrowers will get this facility. Then whether or not to take advantage of the moratorium. But the condition for this is that the loan installment should be paid by the end of February i.e. the loan concerned is not a non-performing asset (NPA). "This type of loan is 40 percent of the loans provided by the institutional system (banks, financial institutions)," Crisil said in a report on Monday. This will benefit 7...

New Delhi, Monday 26 October 2020 A British court has rejected the bail plea of ​​absconding Nirav Modi for the 7th time. The accused fugitive has been declared. Earlier this month, an extradition hearing in a British court was extended to November 3, but Nirav Modi has repeatedly applied for bail, although he has not had a single success. Nirav Modi was arrested by London police on March 19 and has been lodged in London's Wadsworth Jail since then, just months before he was named in the 2018 PNB scam. All possible extradition efforts are being made.

- Kotak is trying to capture Mahindra IndusInd Bank New Delhi Dated 26th October 2020 Monday IndusInd Bank clarified that no negotiations are underway with our Kotak Mahindra Bank. There was speculation in the market that Kotak Mahindra Bank was in the process of seizing IndusInd Bank. Kotak Mahindra Bank is a private bank with a capital investment of Rs 2.75 lakh crore while IndusInd Bank has an investment of Rs 50,000 crore. In a letter to the National Stock Exchange, IndusInd Bank clarified that it was not in talks with Kotak Mahindra Bank to sell our bank. Such reports are mere illusions. These reports were false. Sources close to the deal said on condition of anonymity that the details of the deal were still in the early stages. At present no concrete information can be given about it. It was decided that if Kotak Mahindra Bank bought IndusInd Bank, Kotak Mahindra's position in the retail segment was likely to be stronger than it is now. However, IndusInd International H...

New Delhi, Sunday 25 October 2020 Amazon has been granted interim relief on Sunday against its partner Future Group. A Singapore-based arbitration court has ordered Future Group to sell its retail business to Future Group for Rs 24,713 crore in an interim order. . Reliance Industries, the sole arbitrator in the case against Amazon, has ruled in favor of Amazon. He has asked Future Group to suspend the deal immediately. An Amazon spokesman also confirmed the arbitration court's ruling, saying the arbitration court had granted the relief sought by the company, adding that it hoped the arbitration process would be completed soon. We are grateful for this judgment, it is a relief to us, and we are committed to the immediate redressal of the arbitration process.

(Gujarat News Correspondent) Mumbai, Ta. Saturday, October 24, 2020 Corporate India's second quarter results for the end of September 2020 are showing moderate to poor results, with the second round of Corona transition on the global front worrying Europe and the United States, while India's fast-paced Corona industrialization Indian stock markets were witnessing a steady rise in foreign fund stocks. Of course, with the Indian government still facing major challenges on the economic front and the Center being forced to indebted the states, it will be necessary to be cautious in the new boom in the overbought position of the markets at this challenging time for the economy. Don't be surprised if the October trend in futures and options ends on Thursday next week and the market is reversed in the coming days by keeping the market bullish. So much caution will be required to follow the index based boom. Bihar elections, elections on the global front in the US, look at the EC...

Mumbai, Ta. Saturday, October 24, 2020 Considering the impact of corona on tax revenue, the corona tax imposed on liquor sales by various states of the country has seen a fifty per cent decline in liquor sales instead of an increase in revenue. The Confederation of Indian Alcoholic Beverage Companies has claimed that the states that have levied a tax of 5 per cent or more are likely to have lower tax revenue from the sale of liquor because consumers are buying less. Several states in the country have increased the liquor tax in the name of coronavirus cess after the lockdown in May. Delhi had imposed a cess of 50 per cent but later reduced it. At present, Puducherry, West Bengal, Rajasthan and Andhra Pradesh have 3% higher tax than in March 2020. State governments have pushed for a tax hike to boost revenue in the wake of the liquor lockdown after the lockdown, but the move is proving unfavorable, a confederation official said. Rising prices have led to a decline in liqueur sales ...

Ahmedabad. Saturday, October 24, 2020 In the midst of the Koro epidemic, Navratri and Dussehra celebrations are becoming fickle fuss as these festivals are subject to policy rules. However, due to the Dussehra festival tomorrow, the prices of various types of flowers have skyrocketed in the Ahmedabad flower market. The biggest unimaginable surge in the flower market here has been in the price of Hazarigal Gota. Yesterday (Friday) the price of 40 kg of Hazarigal was Rs. It was 1000/1200. Today, it is priced at Rs. With a rise of Rs. 1000/1200 were spoken. Besides, the price of rose rose to Rs. 30/50, today it has increased to Rs. 500/200 and the price of tug was Rs. 30/50, today it has increased to Rs. 500/200. 30/50, today it is Rs. 9/30 was spoken. While in Paras, Rs. The price of 500/200 was increased to Rs. 500/200 was spoken. According to market insiders, rain / humid weather adversely affects flower production. In addition, the demand for temples to be allowed to open after a ...

Mumbai, Ta. Saturday, October 24, 2020 The subsequent recovery of the Indian economy, which has been hit hard by the Corona, will depend on rural demand. Rising demand at the village level will help the economy recover, said Reserve Bank Governor Shaktikant Das at a meeting of the Reserve Bank's monetary policy review meeting. The minutes of the review meeting, which was held from October 4 to 5, were released yesterday. Shaktikant Das expressed the view that rural demand would lead to the recovery of the country's economy. After a sharp decline in GDP in the first quarter of the current financial year, the second quarter is expected to improve, according to various indicators, and the overall improvement in the country's economy will be driven by rural demand, the governor said at the meeting. Consumption demand is also rising in urban areas and sales of off-road vehicles have increased in August. The level of GST e-way bills has also come down to pre-epidemic levels. I...

(By commerce representative), Mumbai, Ta. Saturday, October 24, 2020 On the eve of Dussehra, prices of various domestic and imported edible oils rose in the Mumbai oilseeds market today, with news from manufacturing plants as well as world markets showing a new uptrend. According to Mumbai market insiders, domestic edible oil prices are likely to remain volatile till Diwali. Meanwhile, in the Ahmedabad market today, there was news of a further rise of Rs 30 per can of cingulum oil. Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was quoted at Rs 1,20 today, while the price of cottonseed oil was quoted at Rs 50 per kg. Meanwhile, manufacturing companies had quoted a hike of Rs 1,3 to Rs 1,200 per kg of cingulum oil and a price hike of 15 kg to Rs 2,150 to Rs 4,400, as against the news of a rise in the price of washed cotton to Rs 4 to Rs 4. Meanwhile, indications were received that the total area under kharif oilseeds in Gujarat has so far increased from 3.15 ...

(By commercial representative) Mumbai, Ta. Saturday, October 24, 2020 In the Mumbai jewelery market, the bullion market remained closed on Saturday due to Saturday, but the closed market saw a decline in gold and silver prices behind the world market, market sources said. World market news showed a sharp fall in precious metals, while the dollar traded higher against the rupee in the domestic currency market today, analysts said. Meanwhile, crude oil prices were reported to have fallen by about 2.5 to 2 per cent as corona infestations in various parts of the world escalated and demand slowed. In India, meanwhile, there has been a shortage of gold stocks during the festive season, leading to a rise in gold premiums to a six-month high, market sources said. Such premiums per ounce have gone up from ૫ 1 to, 3, while gold-traded discounts in China have been reported to have fallen by ૨ 2 to થી 20 to ૩૩ 4 an ounce. Meanwhile, in the Mumbai market today, the price of 10 grams of gold was ...

New Delhi, Saturday 24 October 2020 A big gift has been given by the government to the borrowers before Diwali, this gift is for those loan holders who have not availed the loan moratorium and have paid their EMIs regularly, now if you have also paid the bank installment on time during the loan moratorium, the bank will Will give cashback. Who will get the benefit of cashback? For those who take loans up to Rs 2 crore, the government has made important announcements for those who do not take compound interest. How much cashback? The Ministry of Finance has issued a guideline on this, according to which the amount which comes after deducting the simple interest from the compound interest of 6 months will be given to the borrower as cashback. Who will get the benefit of this scheme? If by February 29, 2020, someone has sanctioned a loan of up to Rs 2 crore (personal, car, home, or education loan). Or those who have an outstanding amount will get the benefit of this scheme. What ...

(Gujarat News Correspondent) Mumbai, Ta. 23 October 2020, Friday Funds rebounded over the weekend today, led by automobile stocks, as industrial-economic activity began to throb across the country as the recovery figures for India's rapid recovery from the Corona epidemic began to unfold. With the monsoon being very successful in the country this year, high growth in the agricultural sector and rising vehicle purchases in rural areas, the rapid recovery in automobile companies today saw signs of recovery from the auto industry downturn in anticipation of a big growth in vehicle purchases in cities even during the festive season. Boomed. Along with this, the expectation of further stimulus measures by the central government and the uninterrupted influx of foreign funds into the Indian stock markets was seen to be accelerating. Along with auto stocks, select metal-mining stocks, banking-finance stocks and consumer durables stocks were the main attractions today. Of course, there was...

(By commercial representative) Mumbai, Ta. 23 October 2020, Friday At the back of the world market, gold and silver prices rose again after absorbing the initial shock. However, prices were closing lower than yesterday. The world market is also witnessing fluctuations in the price of precious metals in the US on a daily basis due to new reports. The local currency market saw mixed flows. Crude oil has seen a slow recovery. At home, the GST-free price of 10.50 per ten grams of gold in the Mumbai market, which was Rs 7,115 yesterday, closed at Rs 21,017 after seeing a low of Rs 303 earlier today. Gold was closing at Rs 315 after seeing Rs 21,021 at Rs 2.90. Prices with GST were quoted three per cent higher. Silver. The price of one kg was Rs. Prices with GST were quoted three per cent higher. In the Ahmedabad market, gold fell by Rs 100 to Rs 200 per ten grams at Rs 2.50 and Rs 200 to Rs 3.50. Silver fell by Rs 200 to Rs 200 per kg. Prices in the world market were heading lower. Gold...

Mumbai, Ta. 23 October 2020, Friday The number of electric vehicles in India is expected to increase or slow down due to the Corona epidemic. The corona will have the most serious impact on an electric vehicle, a report said. Due to low affordability and the government's priority to revive the auto and other industries, the focus on electric vehicles has shifted elsewhere in the interim. With the expansion of electric scooters, buses and three-wheelers expected to accelerate in the medium to four to five years, the expansion of land electric vehicles will not be as rapid as it is more expensive than conventional vehicles and companies will now avoid spending higher capital, India Ratings reports. Was. High battery costs and dependence on imports will be short-term challenges to the acceptance of electric vehicles. Strong government policy will continue to be important for the spread of electric vehicles in the country. The spread of electric buses will also come to a halt at p...

Mumbai, Ta. 23 October 2020, Friday Prices of onion seeds have risen sharply in the current year. Onion seeds, which normally sell for between Rs 1,200 and Rs 1,200 per kg, are being sold for between Rs 200 and Rs 500 in Nashik before the rabi season this year. Nashik is the largest onion producing district in the country. Heavy rains in northern parts of Maharashtra like Malegaon, Deola, Satna, etc. have washed away nurseries, leading to a shortage of seeds, said an official of the Maharashtra State Onion Growers Association. There is a shortage of 3 to 4 percent. In Nashik district, onion is grown on an area of ​​about 10 lakh hectares during the rabi season. Given the scarcity of seeds, it may be time to import them. About 5 to 6 per cent of the seed required for onion crop is supplied by a private company. While the rest is supplied by the farmers. Approximately 15,000 tons of mud seeds are required for planting operations. The recent rise in onion prices in the country has fo...

Ahmedabad. 23 October 2020, Friday The volatility in the stock market has increased amidst various favorable as well as adverse factors. In the midst of this environment, the upper / lower circuit was implemented in a total of 6 stocks at the Mumbai Stock Exchange today. According to market insiders, volatility in the market has increased following the recent spike in the Indian stock market. Ten days ago, the Sensex was at its peak. But behind the adverse reports from home and abroad, the market was in turmoil. Since the beginning of this week, the volatility in the market has increased on the back of good / bad reports. Due to which the stock specific movement is increasing in the case of circuit execution. Volatility was continuing in the Mumbai Stock Exchange even today on the back of good / bad reports. Today, the volatility augmentation circuit was widely implemented not in one group but in all groups of the market. In this environment, the maximum circuit was implemented in...

Mumbai, Ta. 23 October 2020, Friday For the fortnight ended October 3, the country's bank lending grew at an annual rate of 7.5 per cent. Lending growth has been moderately high compared to the previous fortnight. The rise in trade activity in the September quarter was driven by an increase in lending, RBI sources said. In the fortnight of October, bank lending had increased by Rs 3 crore to Rs 104.5 trillion. In the previous fortnight, lending had increased by Rs 210 crore. Lending through commercial banks has increased by Rs 2.7 trillion, an increase of 2.50 per cent year-on-year. The unlocking process is underway in the country and the demand for credit is on the rise as the festive season is approaching. Corona had a serious impact on credit withdrawals in the first quarter of the current financial year due to the lockdown. In the June quarter, the country's economic growth rate fell sharply by 3%. An official of the Indian Banks' Association (IBA) recently said th...

(By commerce representative), Ahmedabad, Mumbai, Ta. 23 October 2020, Friday Cingulum oil prices rose sharply in the country's oilseeds market today, citing festive conditions behind the manufacturing facilities. At Ahmedabad Oilseed Bazaar today, old cingulum oil and label tins cost Rs. There was a huge jump of 30. While cottonseed oil and palm oil cost Rs. 10 were increased. Late this evening at Ahmedabad Oilseed Bazaar, a single old box cost Rs. 50 and label tin Rs. 70/80 were spoken. In the Mumbai oilseeds market, groundnut oil prices jumped to Rs 1,200 per 10 kg, while prices of other domestic edible oils like cottonseed oil and mustard oil also saw a new rise, market sources said. Meanwhile, in the Mumbai spot market, the price of cingulum oil rose from Rs 1,200 to Rs 1,50 per 10 kg today, while the price of cingulum oil rose by Rs 1,2 to Rs 1,400 per 10 kg and the price of 15 kg rose to Rs 4,150 per 10 kg. There was news that Rs. Experts said demand from local and exporter...

Mumbai, Friday 23 October 2020 Economic activity was halted due to the corona virus epidemic. This has affected the income of many people. But during this time the wealth of the rich people of the country increased. This information is obtained from the report of Credit Suisse. According to Credit Suisse's Global Wealth Report, the wealth of every adult in India has increased by 0.7% in the six months ended June 30, compared to 2019. The report states that despite the Corona virus epidemic, the per capita wealth in the country was 17,300 by the end of 2019, rising to 17,420 by the end of June 2020. According to financial services firm Credit Suisse, average wealth growth in the first six months of 2020 was 1.7 percent. According to the firm, wealth growth could reach 5 to 6 percent in 2020. And in the year 2021, this growth could go up to 9 percent. The report states that the share of property and real estate in people's wealth was the highest in India. But now people are ...

New Delhi, 23 October 2020 Friday While working we are busy buying houses, cars and raising capital for children's education or marriage and do not have time to plan for ourselves. So you have to understand that raising capital for retirement is just as important as other goals. If it is delayed it will not be possible to raise enough capital and may have to go through an economic crisis after retirement. So for this goal, start your investment as soon as possible. A survey was conducted by PGIM India Mutual Fund, a wholly owned business unit of PGIM, on the attitude of people towards retirement. The survey found that the perception that India is a country of savers is now obsolete. Urban Indians are now cutting back on savings and investments and allocating about 59 per cent of their income to current expenditure. Most people in the country do not have retirement funds. The survey found that retirement planning is down in people's priorities. So, the financial security and f...