Market and Business News

New Delhi, Saturday 26 December 2020 India will overtake Britain as the world's fifth largest economy by 2025 and third by 2030. The Indian economy, which has been hit by the Corona virus epidemic, has slipped to 6th place in 2020, overtaking Britain in 2019 to become fifth. According to the annual report of the Center for Economic and Business Research (CEBR), Britain's leading economic research institute, India has faltered a bit due to the impact of the epidemic, the result of which is lagging behind Britain this year after overtaking Britain in 2019 Till then, India will be ahead. It looks like Britain will overtake India again in 2020 as the rupee weakens. The report predicts that India's growth will be 9 per cent in 2021 and 7 per cent in 2022, with the CEBR saying it is only natural that India will grow economically. The country's growth rate will slow to 5.8 per cent by 2035. According to the forecast, India will overtake Britain in 2025, Germany in 2027 a

Ahmedabad. 26 December 2020, Saturday The corona epidemic has put the market at risk, making it the first choice of gold investors in 2020, with a return of about 28 per cent on gold investment this year, the highest since 31.1 per cent in 2011, an average of 14.1 per cent in 15 years. There has been a tremendous return of one per cent. According to experts, the rise in global gold prices is also having an impact on the domestic bullion market, with international prices rising by more than 23 per cent this year, pushing gold prices to a record Rs 56,200 per 10 grams in the Indian market in August. That has been down more than 10 per cent since then and the total return has been 27.7 per cent. Silver, meanwhile, touched a new high of Rs 77,840 per kg, the third-largest gain in gold investment since 2005, and only twice as much as capital investment. In 2013, its price fell by 18.7 percent. According to rating agency Credit Suisse, gold prices could rise by up to 20 per cent by the

(Gujarat News Office), Mumbai, Ta. 25 December 2020, Friday The Mumbai oil and bean market witnessed a holiday mood following Christmas today. New demand was also winged. The hawala resale present in imported palm oil traded barely 20 to 30 tonnes while no special direct delivery trades from refineries were seen. Global agricultural markets in Malaysia and the United States were also closed today in the wake of Christmas, and there was a lack of overseas guidance news at home. However, prices of various domestic and imported edible oils rose in the Mumbai market today. Cottonseed oil prices rose to Rs 1,100 per 10 kg. The leveling of manufacturing facilities was encouraging. The first session was closed today in the futures market. In January, palm oil was quoted at Rs 1,050 after refinery January delivery at Rs 1,050, while soyoil refinery was quoted at Rs 1,150 for January. In the Mumbai spot market, cottonseed oil rose by 10 kg to Rs 1,100 per kg and mustard oil to Rs 115 per k

Mumbai, Ta. 25 December 2020, Friday In view of the possible escalation of legal battles in the post-Corona era, companies from small to large in various fields are strengthening their legal departments and recruiting experts in legal maneuvers. Corona has led to decisions on bank loan repayments such as moratorium, one-time loan restructuring, work from home, new labor code. These decisions do not rule out the possibility of legal disputes between the government and companies and between companies and their employees. The research firm's report said that the recruitment of experienced legal experts in the country's small to large industrial companies is opening up. The filing of new cases under the Insolvency and Bankruptcy Code (IBC) 2018 to recover money from defaulting companies is currently on hold. As this decision is to continue till March 8, 2021, there is a possibility of legal dispute between the banks and the borrowers regarding the proceedings to be started af

New delhi date. 25 December 2020, Friday It is learned that e-commerce companies have been ordered by the telecom department to stop selling mobile signal boosters or signal repeaters. The quality of mobile service is deteriorating due to such devices. Complaints about the quality of this service are being received from many places in the country. In view of the complaint received by the department, the department had recently raided several places in Mumbai and removed eight illegal mobile signal boosters. It is a punishable offense under the Indian Wireless Act, 19 and the Indian Telegraph Act 18 to illegally possess, install or sell a mobile booster or signal repeater. This device hinders the provision of clean spectrum and quality mobile telephone service. In the same way that water supply is not provided due to illegal laying of water from the main line, it has also been ordered to stop the sale of water as the booster has also disrupted the mobile service.

Mumbai, Ta. 25 December 2020, Friday The country's flower exporters could not be spared from the effects of coronavirus. In addition to declining exports of flowers for Christmas and New Year, exporters are being hit twice by rising export costs. Demand for this specialty has grown significantly as a result of recent corporate scandals. In addition to the sluggish demand abroad, shipping flowers abroad is becoming more expensive this year due to the increase in air freight rates. Exports have also been affected by the disruption of airlines due to the Corona. As the flower withers quickly, it has to be shipped by plane. Rental rates for perishable items such as flowers have more than doubled since the outbreak of the coronavirus. From Bengaluru and Pune, the rates for flowers in European countries, which used to be Rs 5 to 20 per kg, are now rising to Rs 510 to Rs 6 per kg. Freight rates have risen sharply not only in Europe but also in South Africa and Asia. It would not be w

Mumbai, Ta. 25 December 2020, Friday In the Corona era, small businesses believe that digital sales have helped keep businesses afloat. This was found in a survey conducted by Crisil. The rating agency had conducted a survey of six companies with a turnover of less than Rs 3 crore. About 50 per cent of these companies were in the manufacturing sector, according to a report. The manufacturing sector has seen a significant increase in online sales of gems and jewelery and textiles. Due to the Corona, a complete lockdown in the country for almost two months, companies began to use the online medium for sale. Online sales have helped companies survive and thrive in epidemics. Of the surveyed micro and small enterprises, 4% were the first to sell Corona online. After Koro, the figure has risen to 5 per cent in small enterprises and 5 per cent in micro-enterprises. Despite some limitations, micro-enterprises have not lagged behind relatively large enterprises in accepting digital, the

Ahmedabad. 25 December 2020, Friday During the one-year period from Christmas 2018 to Christmas 2020, six stocks in the small-cap and mid-cap sectors have risen between 100 and 200 per cent, despite many favorable and unfavorable factors. At the same time, the small-midcap index has outperformed the main index. The Sensex and Nifty hit a new record high before hitting new lows after the Sensex and Nifty plunged to the bottom of the stock market on the back of panic-ridden sell-offs caused by the Corona epidemic in the stock market during the reported period. Even in the midst of this turmoil in the market, smallcap and midcap stocks saw significant gains compared to frontline stocks. Out of which, 8 stocks in the sector rose from 100 per cent to 200 per cent. The Sensex and Nifty had gained 18 per cent during the year. On the other hand, the smallcap index rose by 9 per cent and the midcap index by 12 per cent during the period. According to market analysts, the market bounced ba

(By commerce representative), Mumbai, Ta. 25 December 2020, Friday Discounts offered to jewelers on gold have increased due to declining demand after Diwali. Despite the wedding season, the demand for gold in the country has not increased as expected, which has led to a doubling of the discount on gold from one dollar per ounce to two dollars. The Mumbai market was closed for Christmas, but private markets saw an improvement in gold and silver prices. At the domestic closed market in Mumbai, the price of 10 grams of gold, excluding GST, which was Rs 2.50 yesterday, was Rs 7,000 yesterday and Rs 30,000 in private today. The price of ten grams of GST excluding GST of Rs 2.50 was Rs 30,200 with Rs 5. Prices were quoted three per cent higher with GST. Silver. The price of one kg excluding GST was Rs. 300 in private with Rs. Prices were quoted three per cent higher with GST. In the Ahmedabad market, gold rose by Rs 100. Rs 21,600 for Rs 2.50 and Rs 31,200 for Rs 2.50 were deposited. Sil

New Delhi, 25 December 2020 Friday A Reserve Bank of India (RBI) bulletin claims that India's economy is expected to remain positive in the third quarter of the current financial year. The percentage will remain the same. But even though positive growth has been encouraging in times of the Corona crisis, the bulletin says the economy is seeing a faster and better recovery than expected. The role of two factors behind the increase in GDP growth rate is considered to be the most important. The first is the decline in cases of Corona transition from mid-September and the second is the rise in investment and demand. The shift from consumption expenditure to Fox investment expenditure by the self-reliant Prime Minister of India's poor welfare package, the article said, has increased demand for the product in times of epidemics, but now investment has also picked up. The article said that the fear of a second wave of coronary epidemics is growing among the people, which has cre

Mumbai, Friday 25 December 2020 The capital market is facing a risky environment due to the Covid-19 epidemic, which is becoming the first choice of gold investors in 2020, with about 28 per cent return on gold investment this year, the highest since 31.1 per cent in 2011, 15 per cent on gold. The average return for the year has been a whopping 14.1 per cent. According to experts, the rise in global gold prices is also having an impact on the domestic bullion market, with international prices rising by more than 23 per cent this year, pushing gold prices to a record Rs 56,200 per 10 grams in the Indian market in August. That has been down more than 10 per cent since then and the total return has been 27.7 per cent. Silver, meanwhile, touched a new high of Rs 77,840 per kg, the third-largest gain in gold investment since 2005, and only twice as much as capital investment. In 2013, its price fell by 18.7 percent. Hope for a boom in 2021 too According to rating agency Credit Suisse

New Delhi, 25 December 2020 Friday The Confederation of All India Traders (Cait), an association of traders, has opposed the inclusion of Section 86-B in the GST rules. Under Section 86-B, traders with a monthly turnover of more than Rs 50 lakh will have to pay 1 per cent GST, the government said. The move is aimed at curbing tax evasion by the government, but traders have protested and demanded its withdrawal. Kate has written a letter to Finance Minister Nirmala Sitharaman seeking immediate suspension of the rule and its implementation after deliberations with traders. Kate also demanded that the last date for filing GST and income tax returns be extended to December 31, 2020 for three months. In a letter to Sitharaman, CAT President BC Bhartiya and General Secretary Praveen Khandelwal said it was time for the government to sit down with traders and review the GST system. He said that Rule 86B would adversely affect the business of traders across the country, business is already

New Delhi Dated 25th December 2020 Friday It was learned that the Reserve Bank of India had revoked the licenses of two banks in Maharashtra. The first such bank was Subhadra Local Area Bank of Kolhapur and the second was Bank of Karad. The Reserve Bank said in a statement that Subhadra Local Area Bank had breached the minimum networth requirement during the two quarters of 2019-20. However, the bank had enough cash to repay its account holders. The RBI further said that the way the bank was operating could jeopardize the interests of current and future customers. So this decision had to be made. The other bank whose license was revoked was Karad Janata Sahakari Bank, the Reserve Bank said, adding that the bank did not have sufficient assets and earning potential and was forced to take action against it. As soon as the process of revoking the license is completed, the account holders will get their money back.

(Gujarat News Correspondent) Mumbai, Ta. 24 December 2020, Thursday On the last day of the week, foreign funds continued to buy in healthcare, consumer durables, oil-gas, auto, metal-mining and FMCG stocks. With the stock markets closing on Friday, December 6 for Christmas, the funds re-strengthened their holdings in futures and options before the end of the December next week. Corona transitions are on the rise again around the world and in the UK. Corona's vaccination program is also gaining momentum in the face of a number of countries blocking flights to countries including India. But funds, players, high networth investors stocks rallied all round again. The Sensex jumped 4.5 points to 9,6.15 and the Nifty spot jumped 19.50 points to close at a high of 19,201.10. The US dollar had lost 3 paise to Rs 4.5 against the rupee. The Sensex plunged 3 points to a low of 208 and a high of 205 points to a high of 6 points. Trading started today at the expected strength. IT stocks inc

(Gujarat News Office), Mumbai, Ta. 24 December 2020, Thursday In the Mumbai oilseeds market, cottonseed oil prices rose in domestic edible oils today, while groundnut oil and mustard prices remained unchanged. Meanwhile, prices of various imported edible oils rose in the spot and futures markets today. In the Mumbai market, however, new demand slowed to a head today and imported palm oil traded at just Rs 100 to Rs 1,050 per 10 kg at hawala resell. In January, prices of some refineries rose to a high of Rs 1,050, market sources said. In Malaysia, palm oil futures rose another 30 points today amid heavy rains, production and declining stocks, while palm product prices rose another ૫ 2.50 to ૦૦ 2.00. According to world market analysts, total palm oil exports from there have increased by about 15 to 18 per cent in December so far. There were rumors that about 150 to 15 ships were diverted to other countries from various ports in Argentina as exports were disrupted following a labor st

(By commercial representative) Mumbai, Ta. 24 December 2020, Thursday At the back of the world market, gold and silver prices rose again after absorbing the shock of the recession. Ahmedabad silver saw an increase of Rs 1,000. The pound jumped to Rs 100 in the domestic currency market. The pound strengthened after the Brexit trade deal was finalized while the euro weakened. Crude oil was also under pressure. At home, gold in the Mumbai market rose by Rs 31 to Rs 3.50 per 10 grams, excluding GST. The rupee was trading at Rs 4.50 with a value of Rs 2.50. Prices with GST were quoted three per cent higher. Silver. The price of one kg was closing at Rs. 21 with Rs. Prices with GST were quoted three per cent higher. In Ahmedabad, silver rose by Rs 1,000 to Rs 2,000 per kg, while gold rose by Rs 100 to Rs 31,600 per ten grams and Rs 31,200 per ten grams. Gold for immediate delivery rose by ડો 150 an ounce to ૮૭૩ 16 an ounce in late trade, while silver was trading at ૨૫ 2.81 an ounce, up

Mumbai, Ta. 24 December 2020, Thursday The number of foreign institutional investors (FIIs) withdrawing from the domestic debt market in the current year is the highest in the last two decades. In the current year, FIIs have sold સાધનો 13.60 billion in net worth of debt instruments, the highest since 19, according to the data. In 2012, the net inflows in debt instruments stood at 4.5 billion. The sell-off was due to an uncertain outlook for the Indian rupee, an analyst said. FIIs seem to be increasing investment in US dollars by withdrawing money from India's debt instruments. The rupee depreciated against the dollar to a low of 7.50 in 2020 as the Corona epidemic affected most of the asset classes. The rupee has depreciated by 9 per cent this year and is the weakest currency in Asia. Sources further said that foreign investors were also selling due to the decline in yields on credit instruments.

Ahmedabad. 24 December 2020, Thursday The primary market has also been booming since last July, when the market plunged to the bottom in March amid the adverse effects of the Corona epidemic. In the calendar year 2020, 18 companies raised Rs. A fund of Rs 31,000 crore was raised. After the IPO of SBI Card in the early part of the calendar year 2020, the Indian stock market plunged to the bottom in March following the lockdown that spread the Corona virus in the country. However, earlier in January, the market's main index reached a new record high. Not a single IPO entered the capital market until three months after March. Rosari Biotech entered the capital market in July with an IPO. Which received a high listing gain with excellent response. After the success of this IPO, the primary market boomed and one company after another entered the capital market with IPOs. At the end of the year, 12 companies raised Rs. It was successful in raising Rs 21,000 crore. If we include Yes

Mumbai, Ta. 24 December 2020, Thursday Concerns are being raised that the global shortage of containers will disrupt the supply of parts for the country's auto manufacturers in the next three to four months and affect production. Shipping fares have been on the rise since July and it has become almost difficult for companies to do business, sources in the Society of Indian Automobile Manufacturers (SIAM) said. India is the fifth largest auto market in the world. The shortage of containers has become a concern for the industry as the auto sector was on the verge of recovery after the coronavirus lockdown was eased. Exports of goods from India have increased but imports have not increased as much, leading to inequality in the availability of containers, leading to shortages, said a spokesperson for a logistics company. "We have to import empty containers from the Middle East due to low imports," he claimed. It is also being transported from one place to another within

Mumbai, Ta. 24 December 2020, Thursday Retail lending products in large and major lending markets around the world typically experience an increase in loan defaults. (Delay in repayment of loan for 30 days or more) Delay in loan repayment is critical in India and the impact of financial situation will take time to recover from the impact of lenders' support for relief programs and changes in consumer payment priorities. Among the major retail lending products, credit card and property loans saw an increase in the default rate on loan repayments on an annual basis in August 2020, which was 21 and 3 basis points, respectively. The rate of delay in credit card payments is reflected in the extended economic downturn, pay cuts and job losses due to the epidemic. Also credit cards often have a lower priority of payments, as consumers give higher priority to issuing other credit obligations. Delays in repayment of commonly used product (property against loans) for small business fina