Market and Business News

(Commercial Representative) MUMBAI: Investors in shares of Paytm-One3 Communications Ltd, an Indian financial technology giant and mobile payments company, are doomed. Investing in the company's stock has proved to be a huge loss-making business. In just two days, investors' capital has eroded by as much as 9 per cent at one stage and finally eroded more than Rs 21,000 crore. It may be mentioned here that after the extraordinary erosion of investors' capital in Paytm's shares, the company was seen in an attempt to stop the erosion in the stocks by announcing its business results for the month of October 2021 only yesterday. But investors and players did not like this. With this, in just two days, the market capitalization, that is, the assets of investors, has come down by Rs 21,000 crore to the bottom of Rs 215 crore. The IPO of the company had a market capitalization of Rs 1,3,50 crore at a price of Rs 4,150 per share. Paytm do ... Paytm do ... The situation is ge...

Retreat in gold: Silver, however, recovered from the shock and rose again

(Gujarat News Office) MUMBAI: Gold prices continued to decline in the Mumbai jewelery market today as silver prices rebounded and rebounded. Gold prices in the world market fell further from ૮૪૫ 15 to ૮૪૬ 12 an ounce and were reported to be at ૮૩૯ 15 to આજે 120 today. Silver in global markets traded higher at ૬ 4.31 an ounce, up from ૬૨ 7.5 an ounce, but rose to ૭ 2.81 an ounce from 4.5 an ounce. In the Ahmedabad jewelery market, silver rose by Rs 200 per kg to Rs 200 today. Platinum, meanwhile, rose by ૩૪ 103 to ૩૫ 105 to ૪ 1,030 to ૪ 1,081 today, while palladium was quoted at ૬ 203 to ૬૮ 203, up from ૬ 2,051 to ૬૨ 203. In the Mumbai market today, gold was trading at Rs 5 per 10 grams excluding GST, Rs 2.50 per ounce, Rs 2.50 per ounce was trading at Rs 4 per ounce and prices were 8 per cent higher with GST. Meanwhile, Mumbai silver prices remained unchanged at Rs 500, excluding GST, while those with GST were up 3 per cent. Ahmedabad gold prices were at Rs 30,700 at Rs 2.50 and Rs ...

Soybean futures bounce bullish circuit: Castor futures also bounced

(Gujarat News Office) MUMBAI: New demand in the Mumbai oilseeds market was slow today. Prices, however, were high. The weather in the world market was mixed. In Malaysia, palm oil futures fell by 3 points, while soyoil prices in US agricultural markets were quoted 5 to 20 points higher in the projection this evening. In the futures market, meanwhile, soybean futures jumped 3% today, signaling a bullish circuit. Soybean futures were quoted at Rs 5 per quintal, up Rs 5 per quintal. The players were watching as it rained at the manufacturing facilities. Soyoil futures rose by Rs 5 per 10 kg today while crude palm oil CPON futures fell by Rs 5. Castor futures were quoted at Rs 20 per kg, up about 5 per cent today. Mumbai spot castor was up by Rs 20 to Rs 5 while Mumbai spot castor was up by Rs 10 per 10 kg. Meanwhile, in the Mumbai market today, the price of cingulum oil was Rs 150 at Rs 120 while cottonseed oil was at Rs 150 at Rs 15. On the Saurashtra side, the price of cingulum oil ...

Sensex fell 1170 points to 58465

Nifty fell 3 points to 1912 (Gujarat News Correspondent) MUMBAI: The Modi government at the Center has not been able to resolve the farmers' agitation against the agriculture law for the past one year. With the negative impact of the immediate revaluation of the sale deal in assets, last week's listing of shares of Paytm-One2 Communications Ltd. continued in the market as leveraged class stocks began to explode in Indian stock markets today. With the hammering of funds in Reliance Industries stocks following reports of cancellation of Reliance Industries' Aramco deal, funds in long-running overvalued Indian markets, hammering of experts, high networth investors, Banking-Finance, Consumer Durables stocks, IT-Software Services, Automobiles, Power-Capital Goods, Oil-Gas, Funds in Healthcare stocks, Investors' offloading. It fell by 3 points and closed at 1912.8. Foreign funds-FPIs, FIIs today sold a further Rs 4 crore worth of stocks, while last Friday, stocks worth Rs 2...

Shares of Paytm rallied investors, falling 44 per cent

- Investors lost more than 800 rupees per share New delhi date. Monday, November 22, 2021 Paytm, the country's largest digital payment service provider, has hit investors hard. Shares of Paytm's parent company One97 Communications, which launched its largest-ever IPO of Rs 18,300 crore, are still falling, starting from the day of listing. Its share price is currently down about 44% from the issue price. Shares of Paytm were listed on the stock exchange on Thursday last week. Its listing was about 9 percent lower than the issue price. After the first day of listing, its share price continued to decline and by the end of the trading was down 27%. Today, on the first day of the week, it dropped by as much as 17 percent. In just two days, the company's share price has fallen by more than 44 per cent. Loss of Rs 800 per share to investors Shares of Paytm traded down 11.98 per cent at Rs 1,376.75 at 11:30 am on Monday. It fell to Rs 1350.35 during trading on the BSE. In thi...

Sensex down 900 points below 59,000, Nifty down 263 points

- November 21, 2021

- The stock market closed lower last Thursday New delhi date. Monday, November 22, 2021 The stock market started badly on Monday, the first day of the week. The 30-share Sensex of the BSE opened 287.16 points, or 0.48 per cent, lower at 59,348.85 while the NSE's Nifty started weaker. The Sensex plummeted shortly after opening with a red mark and the 30-share index fell more than 500 points. The decline did not stop there as the Sensex fell 890.65 points to close at 59,000 by 12:00 noon and was trading at 58,745.36 at noon. The Nifty also declined sharply The BSE Sensex and Nifty have seen declines since the start of the red mark amid weak global signals. In just 3 hours of trading, the Sensex fell by 890.65 points, or 1.49 points. The stock traded lower at 58,745.36 at noon. While the Nifty is also trading with a decrease of more than 250 points. The Nifty declined by 263.30 points, or 1.48 per cent, to 17,501.50. NSE's Nifty opened 87.35 points, or 0.49 per cent, lower at...

The Sensex will see 58222 breaking the 58888 level

(Gujarat News Correspondent) Mumbai: Lakh is worth a lot. Be very careful. Take home the profits you make in stocks. Market sentiment has plummeted. Negative factors are simultaneously dominating the market. Corona epidemic situation in European countries again, inflation, Modi government's obligation to withdraw three agricultural laws, five states Goa, Manipur, Punjab, Uttar Pradesh and the upcoming Assembly elections in Uttarakhand, many times as the winter session of Parliament begins. It happens that abrupt decisions taken in the early days of the session are sometimes negative, so the cat-and-mouse catapult in this winter session of Parliament is likely to be a major negative factor for the development market, raising interest rates in the US at any time. Factors such as the likelihood and the situation with high crude oil prices and the discounted listing of Paytm stocks in the last week alone are a clear indication of overvaluation in Indian stock markets. Over the last fe...

Soymeal prices jumped to over Rs 52,000 per tonne

(Gujarat News Office) MUMBAI: New operations in the Mumbai oilseeds market were slow today. The weather was mixed amid two-way fluctuations in prices. Peanut oil was priced at Rs 120 per 10 kg and cottonseed oil at Rs 15 per kg. On the Saurashtra side, however, the price of cingulum oil, however, rose to Rs 150 to Rs 120 and the price of 15 kg was quoted at Rs 4,150. The price of cotton washed was Rs. Meanwhile, with soyoil prices falling 101 points in the US, the market was keeping a close eye on how palm oil prices opened in Malaysia on Monday. In the Mumbai spot market today, the price of imported palm oil was Rs 1,405 while the price of crude palm oyster CPO Kandla was Rs 115. CPO futures were last quoted at Rs 115 and soyoil futures at Rs 19.50. In the Mumbai spot market, the prices of soybean oil were Rs 1,200 to Rs 1,305 for digam, Rs 15 for refinement and Rs 1,315 for sunflower and Rs 1,310 for refinement. The price of mustard increased to Rs. 1210 and Rs. Meanwhile, palm oi...

Gold-silver decline: Global gold falls below 50 1850

(Gujarat News Office) MUMBAI: The bullion market in Mumbai jewelery market was officially closed today due to Saturday. The weather was mild in the closed market. With the world market prices falling and the import cost falling at home, falling prices in the jewelery market kept sellers high and buyers low. In the Ahmedabad market, gold was trading at Rs 30,600 per 10 grams at Rs 20.50 and Rs 30,600 at Rs 9.50 per 10 grams, while Andavad silver prices fell further by Rs 200 per kg to Rs 200. In the Mumbai market, the price of silver excluding GST was Rs 200 at Rs 200, while the price of gold without GST was Rs 900 at Rs 2,050 for 2.50 and Rs 2,000 for Rs 8.50. Prices, including GST, were three per cent higher in both the precious metals. In the currency market, the dollar rose further by Rs 4.5 against the rupee in the previous session, market sources said. Meanwhile, gold prices in the world market fell below ૮૬ 161 to ૮૬૨ 16 an ounce and remained below ૮૫ 150 for the last weekend....

Foreign exchange declined by 76 763 million while gold reserves increased

MUMBAI: India's total forex reserves, which are setting new records every week following a sell-off in foreign funds, saw a modest decline last week. The country's foreign exchange reserves fell by ૩ 25 million to ૬૪ 40.114 billion in the week ended November 15, the Reserve Bank of India said in a weekly report. In the previous week, November 7, the foreign exchange reserves had declined by ૪૫ 1.15 billion to 20.8 billion. The week of September 3 saw a record increase in foreign exchange reserves to 2.3 billion, with total reserves reaching an all-time high of 4.5 billion. The reason for the decline in total reserves is the reduction of FCA. Foreign currency assets fell by ૯૪ 4.08 billion to ૪૮૭ 2.8 billion this week, according to the report. Foreign currency assets, which account for a significant share of the total reserves. Depreciation of global currencies other than the dollar, such as the euro, pound and yen, against the dollar also affects the FCA. Gold reserves ros...

Risk of global economic recovery due to increase in container shipping rates

New Delhi: The rise in container shipping rates has put global economic recovery at risk. The biggest adverse effects of the increase in import costs are likely to be on small countries dependent on imports, according to the United Nations agency on trade and development (UNCTAD). The massive increase in demand for consumer goods during the Corona epidemic resulted in worldwide supply disruptions. This disruption has affected the availability of container ships and boxes for movement of goods. Shipping companies and port officials believe that this global disruption of the supply chain will continue into 202. A report quoted UNCTAD Secretary-General Rebecca Greenspan as saying that the current rise in freight rates would have a long-term effect on trade and would hinder the socio-economic recovery, especially in developing countries. If the current rise in freight rates continues, global import costs will rise by 11 per cent and consumption costs by 1.50 per cent within the next ...

Merchant bankers under suspicion over paytm scam

Merchant banker likely to be questioned by SEBI MUMBAI: Shares of Paytm, the largest IPO company in the history of the Indian stock market, have plunged into a 3% slump on the first day of listing. The high valuation of the company by the merchant banker has come under suspicion in this case and the possibility of his being questioned by SEBI has been expressed. It may be noted that on the day of listing, Paytm's stock plunged by 4%, causing a loss of Rs 2,000 crore to investors. Informed sources said that whether the statements made by the company officials and bankers were misleading or misleading to the investors could be investigated. SEBI has written to the Association of Investment Bankers of India (AIBI), an association of merchant bankers, in this regard. According to the latest information, SEBI has asked merchant bankers to provide details of the average price of acquisition of shares and risk for investors in the offer for sale (OFS) in the price band announcement. ...

ECLGS: Repayment pressure likely on small and medium enterprises

MUMBAI: With the end of the one-year moratorium on emergency credit schemes, there are growing concerns over the rise in bad loans in the banking system. A number of small and medium-sized companies have secured loans under the scheme in anticipation of an improvement in demand and are now facing repayment pressure. As the one-year moratorium period is now coming to an end, it will take some time to see the real situation, said a banker. Many companies have increased their capacity. As on September 6, 1.18 crore MSMEs and small business houses have been provided benefits under this scheme. So far, a total of Rs 2.5 lakh crore loans have been sanctioned. The scheme has been extended till March 31, 207. The government launched the Emergency Credit Line Guarantee Scheme (ECLGS) last year to provide support to businesses affected by the Corona. Under the scheme, the government has provided 100 per cent guarantee to banks and non-banking finance companies for providing loans to small bu...

Foreign investors from IRCTC and Mu. Exit funds, small investors trapped

MUMBAI: In the bull run of the Indian stock market, market regulators are silent on the issue of major upheavals in the stocks of zinc companies and small private companies and retail investors are trapped in such companies in a bid to make big money. However, now this situation is also being created in the government company. Shares of Indian Railway Catering and Tourism Corporation Limited (IRCTC), under the auspices of the Railway Ministry, also stalled before splitting at the end of an unexpected move that began in March. Small investors were devastated when IRCTC's Rs 500 stock plunged to Rs 200 in just two sessions. On September 30, the share price was 3 per share, which was around Rs 5,000 on the record date of 9th split. However, even after the split, the IRCTC's craze is not diminishing. According to the company's listing on the BSE, the number of retail investors with a capital investment of less than Rs 5 lakh on November 9, 2021 has seen a bumper increase. ...

62% reduction in payment mandate for IPO through UPI

MUMBAI: Payment mandates through IPIs in IPOs are declining sharply in October, as public payments from a handful of companies have arrived that month. According to data released by the National Payments Corporation of India (NPCI), 11.5 lakh payments were mandated through IPIs for IPOs in October, down 4.5 per cent from the previous month. So in terms of turnover, it is the lowest number since NPCI started issuing statistics. Only one IPO was listed in October and that was Aditya Birla Sunlife AMC. Recently, Nayaka's IPO received a huge response and Fino Payment Bank's IPO came in October but it closed in November. In September, five companies raised Rs. 5 crore, while in August, 6 companies raised Rs. 121 crore which is the highest figure since November 2016. In September, only 20.5 lakh payments were mandated through UPI, compared to 2.3 lakh in August. July saw a significant increase in payment mandates through UPIs with the help of Zomato's lucrative IPO. Although ...

The number of air passengers increased by 70 per cent to 89.85 lakh in October

Mumbai: The epidemic caused by the corona virus had a negative impact on every sector of the country and abroad and has been affecting almost every sector till date. Even the worst-affected aviation sector is now seeing rapid recovery. The country's airline sector has reached pre-corona levels in terms of air traffic due to declining corona cases and increased vaccination speeds. According to a report, the number of domestic air passengers has increased by 20.5 per cent in October. According to the Directorate General of Civil Aviation (DGCA), the number of people traveling by air has risen to 2.5 lakh. In the same month last year, the figure was 2.31 lakh. According to DGCA data, Indigo, the country's largest airline, had the highest number of passengers in October. Indigo flew 3.06 lakh passengers last month. Apart from the airlines under Tata Group, 10.31 lakh people boarded Air India planes in October.

Silver prices plummeted: Crude prices plunged 3%