Market and Business News

MUMBAI: Uncertainty over rainfall in the current monsoon has raised concerns over kharif production, which is likely to push up food inflation. Irregular rainfall can result in production of oilseeds and pulses. The monsoon of the current year is one month away from completion and if there is not enough rain for the progress of the crop, the concern may increase. In May and June this year, retail inflation surpassed the Reserve Bank's limit of 5-7 per cent. However in July it slowed down again. Less than normal rainfall will affect the rural economy, agriculture sector circles said. By the end of last week, there was a 5 per cent deficit in rainfall. However, the progress of kharif sowing has been good and it was declining by only 1.50 per cent. However, proper rainfall is required for crop progress after planting. The government will be forced to increase its relief measures to mitigate the adverse effects of the rains, sources said. The government will have to get an estima

MUMBAI: With the Reserve Bank of India dropping the card data storage standard, it will no longer be possible for online shoppers to shop at a single click on an e-commerce site. An increase in the incidence of ransomware attacks in the country in which computer networks exposed to the Internet have been hijacked by malware. According to the new guidelines for payment gateways and payment mediums, platforms selling goods online will not be able to retain customers' credit card data, so customers will have to provide their 15-digit number each time. E-tellers and payment gateways can currently maintain card details. However, due to the new standard coming into effect from January next year, this rule will be applicable for every card-based transaction. The risk of ransomware attacks has risen sharply in recent times, RBI sources said. The RBI does not allow any online merchant to store customer debit or credit card details. It was opposed when the Reserve Bank made two-tier au

Mumbai: The country's economic growth rate in the first quarter of the current financial year is projected at 12.50 per cent, according to a report by the State Bank of India (SBI). The Reserve Bank has set an expectation of 51.50 per cent. Due to the low level of this period last year, the GDP growth estimate for the first quarter of the current year is seen to be high. The first quarter results released by the corporates so far have seen a significant recovery. SBI has developed a no-casting model covering 21 high frequency indicators linked to industrial activity, service sector activity and the global economy, on the basis of which it calculates the GDP growth rate. The gross value editions of 206 companies grew by 3.50 per cent in the first quarter of the current financial year. However, the figure is lower than in the fourth quarter of FY21, the report said. Meanwhile, the Ultra High Frequency Indicators-based August's Business Activity Index has seen an increase. Th

Ahmedabad: Due to high listing gains in IPOs since the beginning of the current year, most investors have turned to IPOs. But the recent listing of four IPO stocks at a discount has created an atmosphere of frustration among investors. Shares of Aptus Value Housing Finance and Cam Plast Sanmar, which recently entered the capital market with an IPO, were listed at a discount today. Shares of the former Car Trade and Nuvoco Vistas were also listed at a discount. Investors have been disappointed with the listing discounts of four consecutive IPOs. Today, Aptus Value shares of the company with a 4.5 per cent discount to Rs. The listing was done at 4.5. The company has raised Rs. Shares were issued at a price of Rs. It closed at 8.30. While why the shares of Plast Sanmar Company today with a 3% discount to Rs. Listing was done at the price of Rs. The company has raised Rs. The shares were issued at a price of Rs. At the end of today's trading, the stock fell one per cent to Rs. The

MUMBAI: Expenditure on corporate social responsibility (CSR) by Indian companies rose by 7.5 per cent to Rs 2,000 crore in the last financial year. Companies' profits increased during the Corona period in the last financial year. Most of the CSR costs by companies were borne by epidemiological works. According to a report by ratings agency Crisil, during the first wave of Corona, most of the spending was done in cash through the PM-Care Fund while in the second wave the companies spent CSR by providing various tools. In the second wave of March-June 2021, companies provided only Rs 5 crore in PM funds, while the expenditure under the 'others' category was Rs 21 crore. During the first wave, companies contributed Rs 212 crore to PM-funds during March-May 2020, while allocating Rs 21 crore in the 'others' category, citing Crisil's report. Considering the seriousness of the second wave, the companies provided help in the form of equipment like ventilators, oxyg

MUMBAI: Gold and silver prices rose in the Mumbai jewelery market today. In Ahmedabad market too, the price of gold rose to Rs. The surface of 3 thousand was jumped. The world market was up. Today, the price of gold in the world market was from ૭ 1,305 to ૮ 1,305 an ounce. In the Ahmedabad jewelery market, gold price rose by Rs 2.50 per 10 grams today. 2100 and Rs. 200 while Ahmedabad silver price rose to Rs. 200 remained. Silver also rose to ૭૭ 4.5 an ounce from ૭૬ 4.5 an ounce in today's trade. Meanwhile, global platinum prices fell sharply from ૧ 1,015 to ૫ 1,015 an ounce today, while palladium jumped more than ડો 200 an ounce to ૨૪૫૭ 4 to આજે 4 today. According to market sources, the rise in copper has been supported by silver in the global market. The rise in world crude oil prices has also had a positive impact on gold prices. Gold prices in Mumbai jewelery market today 315 with a price of Rs 4.50. 511 with Rs. Mumbai silver prices closed at Rs 810 today without GST. 205

(Gujarat News Office) MUMBAI: Prices of various domestic and imported edible oils remained firm in the Mumbai oilseeds market today. Demand was up, news of manufacturing establishments was showing strength. There were indications of a bullish current in the market amid lack of rainfall at various manufacturing plants. In such an environment, the bullish circuit was implemented today with the rise in castor futures prices. Apart from castor, cumin and guar gum also showed signs of a bullish circuit today. Castor September futures today at Rs. Bouncing Rs. There were indications that 200 were spoken. Mumbai spot castor price today Rs. Bouncing Rs. 2120 were spoken. While the price of castor present in Mumbai today is Rs. ૪૫ Bounced variety price Rs. 150 to 150 were spoken. Meanwhile, cingulum oil prices rose by 10 kg to Rs. 150 while the price of cottonseed oil rose to Rs. 1310 and the price of mustard oil increased by Rs. 150 and Rs. Lived in 1910. Imported palm oil prices today at

Selling of foreign portfolio investors against the rise in stocks of local funds (Gujarat News Correspondent) MUMBAI: The government on Monday announced plans to monetize various government properties worth Rs 3 lakh crore, including raising a lot of assets and leasing them to raise money for the country's exchequer. Funds stormed sharply today ahead of the end of the August trend in F&O due to various positive factors with reports that direct investment will be allowed. On the global front, crude oil prices continued to rise in anticipation of a recovery in China and global economic recovery in the face of growing corona transition in the United States and in European countries. The funds made aggressive purchases with short covering in stocks as they approached ૭૫ 4.5. The Sensex, Nifty-based funds today made profit-booking in FMCG, IT-software services, technology stocks against an aggressive rally in banking-finance, power-capital goods, automobile, metal-mining stocks. A

New Delhi, August 24, 2021, Tuesday The e-filing portal was launched by the Income Tax Department last June. It was claimed that the return from the new website would be processed in a short time and the refund process would also be expedited but instead the experience that the old system was good is happening on the new website. Many of those who filed their returns in 2020-21 have not received their refunds even though 11 months have elapsed and not even the status of the refunds is known. People are responding so often it has never happened before. The biggest problem in the new website is the problem of logging in to the e-filing portal to file an incometax return. You also have to wait for the login. Logs out automatically even after logging in. So the hard work done for the return goes into the water. Another problem comes from digital signatures. A digital signature is required to file an income tax return which is not registered. In such circumstances the whole process become

New Delhi, 24 August 2021 Tuesday Bill Gates, one of the richest people in the world, was also a victim of 'fraud'. A Pakistani man has laundered more than Rs 7 billion to Bill Gates, a claim has been made in a book. A book, The Key Man: The True Story of How the Global Elite was Duped by a Capitalist Fairy Tale, claims that a Pakistani named Arif Naqvi swindled 100 100 million (approximately Rs 7 billion 41 crore) from Bill Gates. . Written by Simon Clark and Will Louch, the book states that Arif Naqvi was in fact a swindler working to usurp the fortunes of billionaires. According to reports, Arif was the chief of a private equity firm in Pakistan, working to attract investors from around the world to invest in various businesses. Took a large sum of money from Gates. According to the book, Arif Naqvi embezzled about 100 100 million, half of which has not been accounted for, in which case he could be jailed, as one of his employees e-mailed all the investors. Arif Naqvi

Mu. Extraordinary Erosion of Capital in Small, Mid Cap Funds: Massive Redemption (Gujarat News Correspondent) MUMBAI: Despite concerns over the global corona transition, China has managed to stem the transition to local corona and the recent regulatory measures by China have led to a rapid recovery in erosion of technology stocks. The market rebounded. The erosion, which started last week with the end of bullishness in small, mid-cap, sugar stocks and cash segments, which had been seen in Indian stock markets for a long time despite the Sensex and Nifty-based gains, continued to rise on the first day of the week. Panic was seen as funds, operators, players, high networth investors continued to sell stocks at all-time prices, continuing to sell stocks for the safety of their capital. With the performance of small, mid-cap funds and schemes likely to deteriorate in the coming days, redemption of investors from mutual funds is on the rise and large-scale redemption is likely to come in

(Gujarat News Office) MUMBAI: Cingulum oil prices remained soft in the Mumbai oilseeds market today. However, prices of various imported edible oils rose today. In the global market, palm oil futures in Malaysia rose by 6, 7, 8 and 9 points in various deliveries today. While there, the price of palm products was raised by થી 10 to 15. However, there were indications that palm oil production would increase by about 11 to 12 per cent in the first 30 days of August. However, prices of palm oil, soyoil, soybean and soymeal remained soft in Chinese markets. In the US agricultural markets, soybean oil prices were 15 to 18 points higher in the projection this evening. Besides, soybean and soymeal prices were also projected to be higher in the projection today. In the domestic futures market, soybean futures rebounded in the first phase of the 4 per cent upper circuit and then rose further to 6.5 per cent today. Soybean September futures were at Rs 515 in Kiev this evening. Soybean revenue

MUMBAI: Gold and silver prices rose in the Mumbai jewelery market today. World gold prices rose to ૮ 1,200 an ounce today. The rise in world prices pushed up domestic import costs and slowed down new sales in the jewelery market. Demand, however, remained limited. The decline in the dollar index in world markets today was an indication of a rise in fund-raising in gold. Gold prices in the world market today jumped from ૭૮ 151 to ના 15 an ounce to ૩ 1,307 to ૪ 1,305. In the Mumbai market, gold rose by Rs 31 to Rs 3,050 per 10 grams, excluding GST, while it was quoted at Rs 811, up by Rs 30 per gram, while the price with GST was three per cent higher. Mumbai silver prices were quoted at Rs 305 per kg today, excluding GST, and prices with GST were three per cent higher. Silver also rose by લર 4.05 to ૩ 8.05 an ounce in the global market today. Meanwhile, Ahmedabad Jewelery Bazaar was closed today. In the world market today, the price of platinum rose by ૯૯૭ 6 to ઔ 8 an ounce from ૮ 1

MUMBAI: Along with locals, foreign investors are pouring money into the Indian stock market. Foreign investors are earning directly and indirectly by betting on the bullion of the Indian stock market. There has been a significant increase in capital market investment through P-notes. Investment through participatory notes has crossed Rs 1.05 lakh crore by the end of July. For the fourth consecutive month, the Indian market has seen foreign investment through P-notes. According to SEBI data, a total of Rs 1,01.3 crore, including equity, debt and hybrid securities, was invested in the Indian market through P-notes till the end of July 2021. As on June 30, the investment was Rs 2,31 crore. By the end of July, Rs. 1,01,8 crore has been invested. Out of which Rs. 3,150 crore shares were stopped. Apart from this, Rs. 20 crore and Rs. 3 crore in hybrid securities. Investment through P-Notes has increased for the fourth consecutive month. At the end of July, P-Notar's investment reache

New Delhi: India has emerged as the second most lucrative manufacturing hub in the world, reflecting the growing interest in India as a preferred manufacturing hub by other countries, including the US and the Asia-Pacific region. This is mentioned in Cushman & Wakefield's 2021 Global Manufacturing Risk Index. The biggest reason to focus on India is the operating conditions. At the same time the country's success in meeting the outsourcing requirements has led to an increase in the rankings every year. India's position in the Global Manufacturing Risk Index has shifted this year to second place, beating the United States, while last year India was third in the top-3 in the list. China tops the list. 'India has changed from an agricultural economy to a service economy in its development story. The country has almost forgotten the manufacturing aspect in this transmission. Yet with the help of cost and talent it gives India a favorable position in the global rankin

BEIJING: The festival season sale of e-commerce companies is set to begin in India. If you are also waiting to buy cheap goods at the festival season sale this time may be a tweak. Chinese consumer electronics companies have had to reduce their production by up to 50 per cent. As Chinese items are widely used in electronic devices in India, prices are likely to increase in the near future. This is expected to affect the supply of the component ahead of the festival season in India due to the decline in production in China. In addition to declining production in China, the only reason for the disruption in festival sales of e-commerce companies is that in the last few days, the global freight crisis has led to a 40 per cent increase in freight rates. It has doubled in the last six months. Companies say the increase in rents has made it necessary for them to increase the price of the product. About 70-80% of the components of electronic goods made in India are imported from China. Ope

New Delhi, 23 August 2021 Monday Finance Minister Nirmala Sitharaman on Monday launched the National Monetization Pipeline (NMP) program in New Delhi. "It is important that India understands that it is time to make the most of our resources," he said. According to the Finance Ministry, the National Monetization Pipeline has estimated a total monetary capacity of Rs 6 lakh crore from the core assets of the central government over a period of 4 years from FY2022 to 2025. The Ministry of Finance includes the Ministry of Roads, Transport and Highways, Railways, Electricity, Pipeline and Natural Gas, Civil Aviation, Shipping Ports and Waterways, Telecommunications, Food and Public Distribution, Mining Coal and Housing. The central government is planning to raise money from its Brownfield Infrastructure Assets in the National Monetization Pipeline. The NMP is a four-year plan of the Central Government. The NMP program is a medium-term roadmap for the government's Asset Mone

London, 8 August, 2021, Monday Last April, the all-time price of the digital currency bitcoin crossed ૬૫ 2,000. Electric car maker Tesla also attracted high-profile investors supporting Bitcoin, but prices have plummeted since then. The ban on cryptocurrency transactions by a Chinese financial institute and payment companies had the opposite effect on the digital currency market. At one point, it was around ૦૦ 21,000. It had reached as low as 2,000 in June. Bitcoin prices have been trending in the range of 20,000 to 30,000 for some time now. The price of this bitcoin has now jumped for the first time in 6 months and crossed ૫ 20,000. High profile investors have become interested in investing in digital currencies. Paypal UK has reportedly allowed customers to buy, sell and hold cryptocurrencies, including Bitcoin, which will be implemented soon. Some experts and investors are also hoping that the price of Bitcoin will go up to લાખ 1 million. According to the Blockchain Data Platf

New Delhi, 23 August 2021 Monday The country's largest carmaker Maruti Suzuki has been fined Rs 200 crore by the Competition Commission of India (CCI) for allegedly violating competition rules. The company decided to discount cars by putting pressure on dealers, and in the year 2019, the CCI launched an investigation against the company alleging discounts on cars. The report said that due to the pressure of discounts on Maruti's dealers, dealers were betting on sales, which hurt customers, as the price of cars could have been lower if the dealer had set the price and discounts on his own without any pressure. The CCI has asked the company to refrain from such activities. The CCI has instructed the company to deposit Rs 200 crore within 60 days. CCI found that MSIL had entered into an agreement with its dealers under which the dealers were barred from giving more discounts to the customers than the company had fixed, meaning that the dealers were bound to adhere to the sam