Market and Business News

New Delhi, Monday 25 January 2021 The BSE Sensex closed at 48347.59, down 530.95 points, or 1.09 points, while the Nifty on the National Stock Exchange fell 133 points, or 0.93 points. Closed at the level of 14238.90. The BSE Sensex crossed the historic level by crossing 50,000 for the first time last week. Experts said that all eyes are now on the budget for the financial year 2021-22, which will give a boost to the Sensex. Today, Tata Consultancy Services has become the most valuable company in the country in terms of market capitalization, surpassing Reliance Industries. The stock plunged 5.58 per cent to close at 1,935.15. Shares of UPL, Cipla, Axis Bank, Grasim and Hero MotoCorp closed at red today while shares of Reliance, Issar Motors, Tata Motors, HCL Tech and IndusInd Bank closed at red. Looking at the sectoral index, all sectors including pharma, metal, financial services and banks closed at the red mark today, including auto, IT, FMCG, PSU bank, media, private bank and...

- The poor-workers objected to eating a tank New Delhi, Monday, January 25, 2021 The Corona era, which began in March-April 2020, saw a 35 per cent increase in the wealth of the country's billionaires, while the poor and workers were left with no choice but to eat one tank of food. Oxfam's Inequality Virus report claims that the wealth of India's 100 billionaires increased by Rs 12,97,822 crore in the post-March 2020 period. If this amount is distributed among the 13.8 crore poor of the country, then each poor person can get Rs 94,045. The billionaire's fortune increased by 35 percent. The report claimed that it would take ten thousand years for Mukesh Ambani to earn as much as he used to earn per hour during the Koro era. According to the report, the Corona epidemic was the biggest health crisis in the last 100 years and the first major economic crisis since the 1929-30 recession. Oxfam chief executive Amitabh Behr said the report made it clear that the richest p...

New Delhi, 24 January 2021 Sunday A PIL has been filed in the Delhi High Court seeking an order from e-commerce websites to clearly show the name of the manufacturer of any item, the country of origin of the product and its MRP, the application is likely to be heard next week. It claims that consumers are facing a lot of hassles by not mentioning these details on e-commerce platforms, said petitioner and Ghaziabad resident Ajay Kumar Singh, who regularly makes purchases through e-commerce websites. He said he did a lot of research and found that e-commerce rule, 2020 and statutory measurement rule, 2011 were not being followed. He said if this e-commerce website continues to mention MRP, vendor details, name of the country of manufacture, country of origin of the product, it will hurt the economy of the entire nation. As not displaying MRP of any item will force the consumer to buy more expensive items as determined by the seller, the PIL states that important rights of the consume...

(Gujarat News Correspondent) Mumbai, Ta. Saturday, January 23, 2021 Amid efforts to get the global economy back on track as the global corona vaccination program is gaining momentum amid the corona epidemic, Indian stock markets set a new record in the Sensex in 2017 and the Nifty in the last week, setting a new level of uptrend. . After a steady upswing in the last 10 months despite the negative factors, the bullish excess is now being calmed down. The change in power in the United States, with uncertainty still lingering on the global front, is now expected to have a positive effect on the steps being taken to get the economy back on track with the Biden government launching massive efforts to stem the tide of Corona's transition. At home in India, next week will be the end of the January trend in derivatives and the start of Parliament's budget session amid preparations for the Union Budget. So in the case of Corona with the budget's expectations, there is a possibilit...

(Gujarat News Office), Mumbai, Ta. Saturday, January 23, 2021 In the Mumbai oilseeds market, cottonseed oil fell further today behind the scenes. While cingulum oil prices were quiet. The fluctuations were narrow. Meanwhile, prices of imported palm oil, soyoil and sunflower remained mild. World market news was showing a sharp bang. There was news of a massive massive price crash in the US agricultural markets as the fund-raising sells out. New demand was sluggish in the Mumbai spot market today and scattered trades in imported palm oil were disrupted due to hawala delays. Meanwhile, players were stunned as soybean prices fell 3 points in overnight trade in the US agricultural markets. Soybean oil prices fell by 116 points, soymeal by 12 points and cotton by 101 points. In Argentina, the truck strike was reported to have adversely affected the movement and export of various agricultural products. However, global players were surprised as US markets collapsed. Meanwhile, soyoil exp...

(Gujarat News Office), Mumbai, Ta. Saturday, January 23, 2021 The bullion market was officially closed in Mumbai jewelery market on Saturday. However, in the closed market, gold and silver prices rebounded today, market sources said. There were indications that gold prices rose again over the weekend after falling on Friday. World gold prices fell from ૮૫ 150 an ounce to ૮૪ 150 at one point, then jumped to ૮૫૬ 16 over the weekend, while global silver prices rose to ૧ 8.11 an ounce from ૩૩ 4.5 an ounce. . The new Corona virus is more deadly in Britain, the prime minister has said. As a result, gold rebounded in the world market over the weekend. Meanwhile, the gap between gold and platinum prices in the world market has narrowed to an 11-month low. Unemployment claims in the United States have dropped to 3 lakh from 5 lakh 8 thousand earlier and this time the expectation was kept at 3 lakh 5 thousand. Meanwhile, in the Ahmedabad jewelery market, gold rose by Rs 200 to Rs 31,000 per...

Mumbai, Ta. Saturday, January 23, 2021 The Reserve Bank's announcement to withdraw some of the liquidity that was poured into the financial system during the Corona era could pose a challenge to the government's exercise in raising money from the market. The finance minister is likely to announce a massive borrowing program in the next financial year in the February 1 budget. The government is being forced to raise money from the market in view of the impact of the corona on the country's economy and the decline in government revenue through taxes. During the Corona period, the Reserve Bank of India (RBI) cut interest rates and poured a lot of liquidity into the financial system to increase retail lending. The RBI has announced a phased withdrawal of some of this liquidity. The Reserve Bank is aware of the fragile state of the economy and therefore will not rush to withdraw liquidity. Doing so would have a direct impact on the government raising money, said one analyst...

(Commercial Representative) Mumbai, Ta. Saturday, January 23, 2021 Reliance Industries Ltd's net profit for the third quarter ended December 31, 2020 grew by 12.5 per cent to Rs 12,101 crore from Rs 11,60 crore in the year-ago period. Of course, the company's revenue from oil to chemicals business has declined sharply. Consolidated revenue fell 5 per cent to Rs 1.5 lakh crore. Commenting on the company's results, Chairman and Managing Director Mukesh D. "At a time when the Indian economy is on the verge of recovery, Reliance Industries has achieved commendable performance in the third quarter of FY21," Ambani said. The company has seen encouraging recovery in the autos and retail segments. This has led to steady growth in the digital services business. The company is proud to employ more than 50,000 people since March 2020. Reliance Jio, a telecom subsidiary of the company, also posted a net profit of Rs 4 crore on a consolidated basis, up 12.5 per cent on a c...

Mumbai, Ta. Saturday, January 23, 2021 In a discussion paper on the new regulatory framework for non-banking finance companies (NBFCs), the Reserve Bank of India (RBI) has proposed to tighten the standards for lending by NBFCs and real estate lending to fill IPOs. The IPO financing conducted by NBFCs was thoroughly investigated. Banks have a financing limit of Rs one lakh for IPOs but no such limit in the case of NBFCs. For some NBFCs, IPO financing is a big business. Considering the different business models of NBFCs, it is proposed to have a limit of Rs 1 crore per person for any NBFC. The NBFC may set the following limits, the discussion paper said. There is also a proposal not to allow NBFCs to provide loans to companies for buybacks of shares and securities. In addition, the company's directors have set strict standards for providing loans to their relatives. Before deciding on a real estate loan proposal, the NBFC will have to make sure that the parent company has obtai...

New Delhi, Saturday 23 January 2021 The country's foreign exchange reserves fell by 1.839 billion to 58 584.242 billion for the week ended January 15, according to data released by the Reserve Bank of India. . According to data released by the Reserve Bank of India, foreign exchange reserves (FCAs) declined during the period under review. Foreign currency assets are an important part of the total foreign exchange reserves. According to the Reserve Bank's weekly data, the FCA fell by 28 284 million to 54 541.507 billion during the reporting period. The FCA is denominated in dollars, but also includes other foreign exchange assets such as the euro, the pound and the yen. At the end of January 15, the value of the country's gold reserves fell by 1.5 1.534 billion to પ્ત 36.06 billion.

-The amount of gold also decreased - Statistics released by the Reserve Bank New Delhi Dated 23rd January 2021 Saturday The country's foreign exchange reserves were reported to have declined sharply. The decline was in the week ended January 15. These details were given in the figures released by the Reserve Bank. For the week ended January 15, it fell 1. 1.839 billion to 2 582.242 billion. Foreign exchange reserves rose by 75 758 million to 58 586.082 billion in the week ended January 8, the highest ever recorded. According to a review conducted by the Reserve Bank during the period, the decline in foreign currency accounts (FCAs) also led to a decline in foreign exchange. The FCA is a major contributor to the total share of foreign exchange. FCA was down 284 million dollars to 541.507 billion last week. The FCA is denominated in dollars but also includes foreign currencies such as the euro, the pound and the yen. Gold reserves declined by 1.5 1.534 billion to 36 36.06 bill...

(Gujarat News Correspondent) Mumbai, Ta. 22 January 2021, Friday Before Reliance Industries' results for the corporate results season were released in the evening and the Sensex jumped 30,000 yesterday and set a new record of 30.15, stocks eased their gains by booking all-round profits in stocks today. Funds eased the overbought position in special banking-finance stocks as the Reserve Bank of India's discussion paper proposed stricter rules and regulations for large NBFCs. After the discovery of a vaccine against the corona epidemic, the corona vaccination program is gaining momentum across the country, but despite the positive factor, the Indian stock market, which has been witnessing a long-term historic boom, crossed the 30,000 milestone with many investors. Did. With this, the overbought position was eased today despite the ongoing preparations of the central budget and the expectation of incentives in the budget this time. Of course, auto stocks of the funds were bullis...

(Gujarat News Office), Mumbai, Ta. 22 January 2021, Friday Peanut oil and cottonseed oil prices remained soft in the Mumbai oilseeds market today. Imported palm oil also had a softer weather while sunflower rose at a slower pace. The futures market was down. There were indications that soyoil prices in the futures market had come down near the bearish circuit at one stage. In the global market, palm oil futures in Malaysia today rose by 3 to 4 points in near delivery while soft delivery prices were softened by 3 to 12 points. There was news today that the price of palm products has gone up by ૫ 2.50 to ૨ 13.50. The possibility of an increase in the export tax and levy rate on crude palm oil and RBD palm oil in Indonesia, probably from February, was being discussed in the world market today. There were rumors of a transport strike in Brazil. In the US agricultural markets, soybean prices rose by six points and soybean oil by 4 points in the overnight trade, while soymeal prices fell...

Mumbai, Ta. 22 January 2021, Friday For the first time in the country after independence, the area under rabi cultivation has seen a record of 3 lakh hectares. This year's figure is 4.5 per cent higher than last year's rabi sowing, Agriculture Ministry sources said. Given the high number of rabi plantings, the country's grain production is expected to be record again this year. The sowing of major rabi crop wheat has also increased by 2.15 per cent as compared to last year. Farmers are harvesting more wheat in anticipation of higher purchases at support prices due to the government's food security norms in the country. Wheat has been planted in an area of ​​3 lakh hectares. Which is all time high. In the last season alone, the area was 3 lakh hectares. Wheat sowing is expected to remain high as rabi sowing is almost completed by the end of January. According to the latest figures, pulses accounted for 2.50 per cent and oilseeds for 2.4 per cent. According to the Ag...

Mumbai, Ta. 22 January 2021, Friday Demand for employees in Internet-based businesses such as e-commerce and education-related technologies, which was strong during the lockdown last year, is likely to continue into the current year. According to a survey conducted by a private firm on various sectors, about 4 per cent of Indian companies have expressed their intention to increase the number of employees by 2021. He also said he would wait until the February 1 budget. The Corona epidemic saw a 20 percent drop in new recruits in 2020. However, the recovery in the country's economy has raised optimism among companies about business activity. Eighty per cent of the companies surveyed said they were considering raising employees' salaries and giving bonuses. The survey was conducted in 12 Asian countries, including India. The highest pay hikes are also likely to be seen in healthcare companies. The boom in technology in India has led to an increase in the demand for professi...

Mumbai, Ta. 22 January 2021, Friday Given the increase in retail demand for diamonds in the US and China, the country's diamond industry is expected to reach ૫ 12 billion by the end of the current financial year. Exports of cut and polished diamonds fell 3 per cent to ૮ 16.7 billion in the last fiscal, from 6 billion a year earlier. As a result of the lockdown and sluggish demand, exports fell to ૬ 2.50 billion in the first six months of the current financial year, halving on an annual basis. However, diamond exports rose again to an average of ૧ 1.50 billion a month in the December quarter, pushing the full-year exports to ૫ 12 billion, according to diamond industry sources. Demand from the US and China is on the rise. Pre-Christmas demand in the US and lunar New Year demand in China were seen in the December quarter. The industry had a huge stockpile of rough and polished diamonds at the beginning of the current financial year. The prices of diamonds were also reduced by ei...

New delhi date. 22 January 2021, Friday According to the order issued by the Jute Commissioner of the Center, hemp mills will now be able to keep stocks of raw flax up to a certain limit. This order has come to control the price of raw flax. The Center has to provide 100 per cent subsidy for the purchase of linen bags for storage of foodgrains. The rise in raw flax prices has pushed up the price of jute bags, so the government is understood to have taken this step to control subsidy payments. There are currently 6 flax mills operating in the country. The jute commissioner has instructed these mills to file stock returns every week now instead of monthly. The instructions were issued to curb heavy buying and to avoid imbalance between supply and demand, government sources said. Sources added that it was time to issue the said order as the price of raw flax was above Rs 2,000 per quintal.

Ahmedabad. 22 January 2021, Friday The economic face of India has been changing since Manmohan Singh unleashed the chip of economic transformation 70 years ago today. India's economic situation was very problematic then. The duo of Prime Minister Narasimha Rao and Manmohan Singh became firm and blew the wind of change. The budget was unimaginable 20 years ago. A well-known economist said that it makes sense to dance with a budget in mind. Nirmala Sitharaman is expected to do something new as she has said that a budget that no one could have imagined will be seen on February 1. Manmohan Singh was holding his cards to his chest and all of a sudden people were informed on the day of the budget. But Nirmala Sitaram has informed the people in advance and planted peas, which has increased the enthusiasm of the people. There is not much difference between the economic problems of 20 years ago and today. The source of income of the government is declining. Every step to increase income...

(By commercial representative) Mumbai, Ta. 22 January 2021, Friday Gold and silver broke a two-day rally over the weekend on the back of global markets and prices fell sharply. Lowering the customs exchange rate for the dollar also fueled the decline in the precious metal at home. The dollar saw a modest decline while crude oil weakened in the wake of a deep recession in Europe. At home, gold in the Mumbai market fell by Rs 2.50 per 10 grams, excluding GST, from Rs 50 yesterday. Gold closed at Rs 4,130, up from Rs 5. Prices with GST were quoted three per cent higher. The price of silver fell from Rs 4,150 per kg to Rs 5 per kg. Prices with GST were quoted three per cent higher. In the Ahmedabad market, gold fell by Rs 200 to Rs 30,700 from Rs 2.50 and Rs 21,000 from Rs 4.50. Silver was trading at Rs 1,200 per kg and Rs 500 per kg. The dollar exchange rate for gold and silver imports has been reduced from Rs 3 to Rs 7.5. Which has resulted in reduction in effective import duty. Wor...

Mumbai, 22 January 2021 Friday The 30-stock BSE Sensex closed at 48878, down 746 points, on Friday following gains. The Nifty also fell 218 points to close at 14371, with Bajaj Auto, Hindustan Lever, TC and Sensex closing at 14371. Excluding Ultratech and Bajaj Finserv, shares of Bharat Airtel, Nestle, Titan, ICICI Bank, State Bank, ITC, Reliance Industries, Axis Bank, HCL Tech, Maruti, Mahindra & Mahindra, Infosys, Powergrid, etc. closed at the red mark. Speaking of the index, Financial Services, Pharma, Realty, Media, Metal, Private Bank, Nifty PSU Bank closed at the red mark. The 30-share Sensex of BSE opened 29.81 points lower at 49,594.95 on Friday, while the NSE's Nifty also started trading lower today. The Bombay Stock Exchange crossed a historic high of 50,000 for the first time on Thursday in the hope of a boom in global markets and a favorable budget under new US President Joe Biden. The Sensex doubled in just 10 months from a low of 25,638 points in March after ...