Market and Business News

New Delhi, Saturday 6 February 2021 Gold prices have been declining for 5 consecutive days, the spot price of 24 carat gold in the bullion market has dropped by about Rs 2,000 per 10 grams, meanwhile silver has also seen a decline of Rs 2303 per kg, gold from its highest level at 9017 per 10 grams While the rupee has depreciated, silver has also depreciated from an all-time high of Rs 8,585. As some experts believe that the uncertainty in the stock market has now subsided, and margins have fallen in the last two days due to rising, investment in gold is now being withdrawn and capital is now pouring into the stock market. Gold has fallen sharply in the last two days, although the decline is temporary and gold will see a full pink rally again. Expressing confidence in gold, some experts said that the global market has low interest rates, ETFs are still buying, valuations are high in the equity market, and any correction will boost gold. However, in a month or two, its price can go ...

New Delhi, Saturday 6 February 2021 In the wake of the Corona crisis, the Government of India and the Reserve Bank of India are working to promote digital transactions in the country, which is expected to quadruple by 2021. People in India are using UPI, the Unified Payments Interface, to provide digital transactions. Amitabh Kant, CEO of the Policy Commission, said that a record Rs 230 crore was transacted by UPI in January 2021, Rs 4.3 lakh crore was transacted by UPI in January 2021, an increase of 76.5 per cent in the number of UPI transactions as compared to January 2020. The transaction amount has seen a jump of 100. What is this UPI UPI stands for Unified Payments Interface, an interbank fund transfer facility that allows payments to be made on a smart phone using a phone number and a virtual ID. This is based on the Internet bank fund transfer mechanism, controlled by NPCI. Money transfers with payments at home in minutes.

New Delhi, Saturday 6 February 2021 After the arrival of potatoes and onions in the vegetable market, people seemed to be relieved by the rise in prices, but now they are returning to their hopes. Potato prices seem to be stable but onions have gone up by Rs 20 in the last five days According to the latest data, onion prices in Jaipur have gone up by Rs 25 to Rs 45 as compared to February 1. Onion prices, meanwhile, have risen by Rs 15 per kg, while in many cities across the country, including Mumbai, Delhi, Muzaffarpur, onion prices have risen by more than Rs 1 to Rs 20 in the last five days. In cities, the price of onion has gone down by Rs 1 to Rs 10. The retail price of onion on Friday was between Rs 20 and Rs 60 in most cities of the country, but in most cities it has crossed Rs 50. In Mumbai, the price of onion was Rs 44 on January 1, which has gone up to Rs 54 now. The price of dugli is Rs 50 per kg in the area, while in Jaipur, Ranchi and Lucknow it is Rs 50 per kg.

New Delhi, 5 February 2021 Friday The RBI is working to bring the official digital currency into the country as soon as possible. It is planned to bring cryptocurrency on the lines of Bitcoin. The RBI is trying to figure out what the benefits of bringing digital currency will be and how useful it will be. RBI Deputy Governor B.P. Kanungo said the RBI's internal panel was working on the central bank's digital currency model and would take a decision soon. On the other hand, RBI Governor Shaktikant Das also told reporters on Friday, "Regarding digital currency, I think we have already released our document. Our digital payment document indicates that digital currency is in progress in RBI." Cryptocurrency was introduced in 2009 as "Bitcoin". It was built by an engineer named Satoshi Nakamoto from Japan. Initially he was not so successful but gradually his rate started skyrocketing which made him successful. If observed, there are about 1000 types of cryptoc...

Mumbai, 5 February 2021 Friday A campaign demanding Bharat Ratna to be given to the country's leading businessman Ratan Tata has started on social media, Ratan Tata's fans are running the campaign on Twitter, the hashtag BharatRatnaForRatanTata is trending top on Twitter. A well-known motivational speaker tweeted about the demand to give Bharat Ratna to Ratan Tata, in which he wrote that we demand to give Bharat Ratna to famous Indian businessman Ratan Tata, he appealed to more people to join the campaign and requested to retweet in large numbers . Then it started raining tweets and retweets, the hashtags associated with Ratan Tata started trending, one user wrote, the world's most generous and simple personality Ratan Tata set a perfect example of generosity and leadership during the 26/11 attacks, Tata Surrey has contributed a lot to us Gems are requested.

New delhi date. 05 February 2021, Friday The RBI on Friday reviewed the new credit policy. The central bank has not changed interest rates this time either. After the budget, the middle class is once again in despair. RBI Governor Shashikant Das announced the new credit policy at a press conference. The RBI has not made any change in interest rates. So the repo rate will still be at 4% and the reverse repo rate at 3.35%. The RBI had projected a 10.5% increase in GDP in the next financial year 2021-22. The RBI's MPC has refused to make any changes in interest rates at its bi-monthly review meeting. The committee has kept the repo rate at 4%. This was the first meeting of the MPC after the budget was presented. After the meeting, the RBI governor said the committee had unanimously decided not to change the report. Gradually, home sales have improved, the RBI governor said. At the same time, people's ability to spend is recovering once again. The general budget has just been ...

New delhi date. 05 February 2021, Friday The stock market has been booming since the budget was released. Today, the Sensex has crossed 51 thousand for the first time while the Nifty has also reached 15 thousand. The Sensex closed 0.71% higher (358.54 points) at 50,614.29 yesterday while the Nifty closed 0.71% higher (105.70 points) at 14,895.65. The S&P BSE Sensex is trading at 51,000 with a gain of 400 points while the Nifty is hovering around 150,000 with a gain of 150 points. In terms of individual stocks, SBI grew by 15% in the December quarter. Apart from that, IndusInd Bank 4%, Kotak Mahindra Bank and HDFC 1% have helped the index to rise. Yesterday, the record high for the fourth day in a row was intact, with the Sensex, Nifty, Nifty Bank and Midcap closing at record highs. At the close of trading yesterday, the Sensex had gained 359 points to close at 50,614.29, while the Nifty had gained 105.70 points to close at 14895.65. Investors' wealth (BSE market cap) rose t...

New delhi date. 03 February 2021, Wednesday The budget announced by the finance minister has made announcements for various sectors in the infrastructure sector, but lacks a specific strategy to increase employment in the country. Big announcements have been made in the infrastructure sector of the budget. It is said that these projects will provide employment to many people. In addition, a portal for migrant workers as well as a minimum wage has been announced. But there is no clear and direct talk about job creation in the budget. Apart from this, no specific information has been released on how many employment opportunities will be created in the country in the new year. It is worth mentioning here that millions of people lost their jobs due to Corona and lockdown. The country's unemployment rate also rose to 4.1 per cent in December 2020. Which was 10.3 per cent in June 2020. Thus, the problem of unemployment in the country has not been solved yet. There has been silence ...

(Gujarat News Office) Mumbai, Ta. 03 February 2021, Wednesday Imported palm oil, soyoil and sunflower oil prices fell in the Mumbai oil and bean market today. The futures market also tumbled. According to world market directives, Chinese importers have begun efforts to settle some of the standing deals for palm oil and soyoil imports. As a result, prices in the world market are falling. India's new demand in the world market is also waning. In the Mumbai spot market today, the price of 10 kg of imported palm oil was Rs 1,050 while crude palm oil CPO Kandla was down by Rs 30. In the futures market, CPO futures fell by Rs 6 to Rs 7 this evening and soyoil futures were trading at around Rs 105. Meanwhile, palm oil prices in Malaysia today fell 3% in world markets. There was news of palm oil futures falling 15 to 18 points in various deliveries today. Exports from Malaysia have declined. However, there were indications that total palm oil production fell by 12-14 per cent in Januar...

(Gujarat News Correspondent) Mumbai, Ta. 03 February 2021, Wednesday For the third day in a row, the BSE benchmark Sensex jumped 30,000 points to set a new record of 206.5. Along with this, Nifty also made history of 17 new heights. The funds continued to rise all round today as the Union Budget continues to be important for the overall development of the country, especially for a self-reliant India, and encourages various sectors, including infrastructure. The funds have been bullish on the stock since the beginning of this week after the expected big correction for the long-term health of the market last week. With the positive impact of budget incentives in the banking and financial sector, the allocation of Rs 2,000 crore for the corona vaccination program and other provisions, as well as the positive impact of incentives for infrastructure, led the stocks to rise sharply today. Banking-Finance, Healthcare-Pharmaceuticals, Consumer Durables, IT-Software, Metal-Mining, Oil-Gas sto...

New Delhi, 3 February 2021 Wednesday Market regulator SEBI on Wednesday banned Future Group founder Kishore Biyani and his brother Anil from operating in the market capital for a year. Biyani has been banned following an insider trading in shares of his retail company Future Retail. The regulatory body SEBI said the two brothers traded shares of Future Retail through a group company based on unpublished price sensitive information prior to the demerger of some of Future Retail's businesses, which boosted the company's share price. A spokesman for Future Group and both Biani brothers did not immediately respond to a request for comment. An investigation by SEBI has revealed that the Biani brothers had joined Future Corporate Resources Pvt. Opened a trading account for the named entity, which traded in shares of Future Retail before the demerger decision was announced. Apart from this, SEBI has also banned trading of shares of Future Retail's Biyani for 2 years. Market re...

New Delhi, 3 February 2021 Wednesday The Bombay Stock Exchange index Sensex closed 458.03 points, or 0.92 per cent, higher at 50255.75 today, while the National Stock Exchange's Nifty rose 142.10 points (0.97 per cent). With closed at the level of 14789.95. Economists and market experts believe that the budget presented on Monday is an adventurous and growth-driven budget, and the market has also welcomed the proposal to raise money by privatizing two state-owned banks and selling government property such as land. Shares of IndusInd Bank, Powergrid, Coal India, Davis Lab, and Dr. Reddy closed at the red mark, while shares of Shree Cement, Ultratech Cement, UPL, Grasim and Maruti closed at the red mark. In terms of sectoral index, all sectors except FMCG and realty closed at red today, including banks, private banks, PSU banks, pharma, metals, financial services, auto, IT and media.

New Delhi, 3 February 2021 Wednesday The good news for LIC policyholders is that a senior central government official has hinted that 10 per cent stake in LIC's IPO may be reserved for policyholders. Presenting the budget for the financial year 2021-22, Finance Minister Nirmala Sitharaman has announced that LIC's IPO will come in the next financial year, i.e. some part of it will be sold to the public through the stock market. DIPAM secretary Tuhin Kant Pandey said that while 10 per cent stake in LIC's IPO could be given to its policyholders, the government intends to make its policyholders partners in the company. Finance Minister Nirmala Sitharaman, while presenting the budget, has set a target of raising Rs 2.5 lakh crore (1.75 lakh crore) through disinvestment in the year 2021-22, under which it has announced to sell some stake in LIC.

(Gujarat News Correspondent) Mumbai, Ta. 02 February 2021, Tuesday In the budget for the next financial year, Finance Minister Nirmala Sitaram has announced development measures without raising taxes. Most analysts have welcomed the budget. Incentives have been provided in the budget for infrastructure development, capital expenditure, healthcare sector and banking sector. Bank stocks led the rally for the second day in a row as a result of measures taken by the country's public sector banks to ease the burden of provisioning and increase in capital expenditure. Even on the second day after the budget, the benchmark BSE Sensex closed at 114 points. The Sensex touched an intra-day high of 30,000 today. The Sensex opened with a gap today compared to yesterday's close. At the bottom, it was 313.8, while at the top, it was 2017.8. The NSE Nifty 50 also jumped 4.5 points to close at 12.5. The Nifty 30 closed at a low of 19.15 and a high of 161.30. Bank stocks and cement stocks wer...

(Gujarat News Office) Mumbai, Ta. 02 February 2021, Tuesday The weather in the Mumbai oilseeds market was mixed today. New demand was slowing. In imported palm oil, 10 to 10 tonnes of hawala resell traded at Rs 1,050 to Rs 105 per tonne. Meanwhile, cingulum oil was trading at Rs 19 per 10 kg in the Mumbai spot market today. The prices of cottonseed oil were quoted at Rs 1,105, while the prices of cotton washed were raised by manufacturers at Rs 1,050 to Rs 105, while the price of cingulum oil was Rs 15 to Rs 1,200 and Rs 510 to Rs 20 per 15 kg. In the Mumbai market, imported palm oil was trading at Rs 105 while crude palm oil CPO Kandla was trading at Rs 8. CPO futures were at a high of Rs 2.50 and a low of Rs 5 at Rs 5 in the evening, while soyoil futures were at a high of Rs 115 and a low of Rs 1,105 and were at Rs 1,150 in the evening. Meanwhile, palm oil futures in Malaysia today fell 3 to 4 points in various deliveries in the world market. There, palm product prices fell by ૭...

Mumbai, Ta. 02 February 2021, Tuesday The proposal presented in the budget as part of the budget to improve the performance and financial position of state power distribution companies (DISCOMs) will be a long-term support for power generating companies. Discoms are a weak bud in the power supply chain. The budget proposal will help increase the cash flow of power generating companies, according to a report by ratings agency Fitch. The proposed પાંચ 21 billion five-year plan aims to reduce power losses, improve revenue, increase power quality and create competition in the power sector. Discoms are facing huge debts as a result of costly power, technical and commercial losses. Earlier, the government had launched Ujwal Discom Assurance Scheme (Uday) in 2012. However the scheme was not successful in improving the condition of the discoms. The pandemic has increased the difficulty of discoms. The decline in demand for electricity from commercial customers with higher rates has affect...

Mumbai, Ta. 02 February 2021, Tuesday With Finance Minister Nirmala Sitaram announcing the setting up of a special bad bank in the budget to empower the country's public sector banks, it remains to be seen what role the Reserve Bank of India will play for banks. A meeting of the Reserve Bank's Monetary Policy Committee to review monetary policy is set to begin here tomorrow. One analyst said the RBI would not only maintain its accommodative stance but also make no change in interest rates in view of the budget concessions provided by the finance minister. The recent decline in inflation has been due to the fall in food prices. Major inflation has not gone down yet. The 9-member MPC meeting will be held from February 4 to 6. The decision of the meeting will be announced on the fifth. The Reserve Bank had earlier cut key interest rates in May last year. Since February last year, the RBI has cut the repo rate by 114 basis points. Even though retail inflation has come down, it...

New delhi date. 02 February 2021, Tuesday In the budget, Rs. With an estimate of Rs 1.5 lakh crore, an exercise has been started in this regard. According to government sources, LIC's IPO will come after October. According to sources, the disinvestment process in Air India and BPCL will be completed by the first half of the next financial year. Apart from this, the sale of stakes in Shipping Corporation of India (SCI) and IDBI Bank as well as two other government banks started on. Will be done from April 1. According to sources in the Department of Investment and Public Asset Management, necessary steps have been taken for the sale of stakes in LIC and IDBI Bank. And it will be implemented soon. Apart from this, privatization of Air India, BPCL, Pawan Hans, BEML, Shipping Corp., Nilachal Ispat Nigam and Ferro Scrap Nigam is also underway. In the budget for the next financial year, Rs. A target of Rs 1.75 lakh crore has been set. In the current financial year, Rs. It was propo...

(Gujarat News Office) Mumbai, Ta. 02 February 2021, Tuesday In the Mumbai gold-silver market, the prices of both the precious metals fell sharply today. World market news was booming. In the Ahmedabad market, the price of silver today fell from Rs 2,000 per kg to Rs 30,000 per kg, while the price of gold in Ahmedabad fell by Rs 200 per 10 grams to Rs 30,100 from Rs 3.50 and Rs 30,200 from Rs 4.50. In the Mumbai market today, the price of gold excluding GST was Rs 2,150 per ounce, Rs 2.50 per ounce, Rs 2.50 per ounce was Rs 5 per ounce and silver was Rs 30,605 per ounce, with the price of these two precious metals including GST. 5 percent were higher. Meanwhile, gold prices in the world market today fell from ૮૬૬ 15 to ઠ 12 an ounce to ૮૪૩ 16 to સાંજે 12 in the evening. Silver prices, which had touched a three-year high in global markets, fell sharply by five per cent today. Global silver prices, which had been hovering above ૩ 50 an ounce, fell to ૬૪ 4.5 to ૬૫ 7.5 this evening. Si...

Mumbai, Ta. 02 February 2021, Tuesday A higher fiscal deficit and a slower pace of consolidation will increase the debt of the Indian government and increase pressure on its sovereign ratings, Fitch Ratings has warned. Fiscal power is also said to be limited due to high debt. At the end of the current financial year, the country's fiscal deficit is expected to be 6.50 per cent. Which is much higher than the initial estimate of 7.50%. Analysts had projected a deficit of seven per cent at the end of the year. The budget estimates that the fiscal deficit will be 6.50 per cent at the end of the new financial year 2021-2, starting April. The target is to bring the fiscal deficit to 7.50 per cent by FY 205-6. The fiscal deficit in the budget presented by the finance minister is very high and the medium-term consolidation is slower than we expected, according to a report by Fitch Ratings' Asia-Pacific Sovereign team. Fitch has given India a negative outlook for ratings with BBB i...