Market and Business News

- Bullion Bits ઃ Dinesh Parekh - According to experts, by the end of this year, the price of gold in the world market is likely to exceed 200 an ounce. News of the end of the war between Russia and Ukraine in the international market sent gold prices plummeting to ૪૫ 20-2 an ounce on Tuesday, with New York's Comex market quoting ૮૯૩ 15 an ounce, after which the price continued to hover around ૯૩૬ 15 an ounce. It bounced back from ૯૪૯ 15 to 120, and finally to ૯૨ 151 to 15. Everyone started buying gold in the hope that the US job data would improve the financial situation. In addition to the importance of store value hidden in gold, increased demand for gold began to buy gold at lower prices. The fight has had a serious impact on the gold jewelry trade, with reports from Dubai saying that the Dubai gold market has seen a decline in consumer mobility and a decline in jewelry sales. Money can be made by buying. Orders from gold jewelry exporters began to be canceled during the wa...

- Central banks in South Korea, the United Kingdom, South Africa and the US raise interest rates after the epidemic Global central banks have raised interest rates from low levels during the epidemic period. Russia has also had to raise interest rates amid geopolitical tensions. It now has an interest rate of 20 per cent, which is 17.5 per cent higher than the epidemic. The central banks of many countries are taking such action. In Brazil, interest rates are now at 11.5 per cent and are now 2.8 per cent higher than their lowest level during the worst of the epidemic. The central banks had earlier cut interest rates in the early stages of the Covid-12 crisis to support the economy. Now it is being decided to increase the rates to normalize the rates as well as to control inflation. Other countries where central banks have raised interest rates include South Korea, the United Kingdom, South Africa and the US. The main interest rates for these regions vary from 0.5 per cent (Euro are...

- People-oriented guidance: H.S. Patel IAS (Retd.) Financial Institutions - In which loans / loans given by recognized banks, co-operative banks etc. have a provision to take securities in a proper manner and accordingly encumbrances are made on the respective property / assets and such encumbrance is related to the revenue records - After being noted in the title deed, it is recorded in the second right of the sample no. 2 as well as in the property register. State Government Institutions / Banks etc. have a recovery mechanism and if no recovery is made after the efforts, the property concerned is auctioned off. SARFESI ACT 2006 was introduced by the Central Government as part of recovery for bank lending. (Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act) which is described in this article is from Madhya Pradesh and in that case the process of auctioning the foreclosed property is in case of non-recovery despite the efforts of the conce...

- Commodity Current: Jayavadan Gandhi Agricultural markets, which were closed last week due to the March ending, reopened on Monday and the revenue of goods started booming again. The highest income of agricultural products is April-May. Prices of most of the agricultural commodities in the current season are bullish, which is giving farmers a huge gain in income over last year. Markets for most commodities, including cereals, oilseeds and spices, are higher than support prices. Demand for wheat and rice in particular is on the rise in India, while India's policy of trading in rupees instead of dollars in global trade, especially in Asian countries, has strengthened the Indian currency. Wheat exports are expected to increase three and a half to four times due to government incentives. Which is estimated to reach one crore metric tons. Wheat exports are gaining momentum as the government has relaxed many things, including licenses, which are included in the free category as per th...

Over the years, foreign banks have shown a tendency to limit their business in India. While most of these institutions have maintained their reach in the institutional and investment banking sector, they have stayed away from retail banking. Citigroup recently sold its retail business to Axis Bank in a cash deal. The deal was worth about ૬ 1.5 billion. In the past, FirstRand UBS, Barclays, BNP Paribas, HSBC and RBS have limited or stopped their retail business. This is due to the complex compliance requirements of the Reserve Bank of India and the competitive nature of the retail banking sector. There is no doubt that there is a large middle class in the country which is very much interested in financial planning. In addition, there is a new class of highly competitive local banks and non-backing financial companies and fintech companies in India who are eager to serve in this field. Foreign banks are not able to compete with local banks in terms of business size and are reluctant to ...

- Chart Hint: Ashok Trivedi The BSE Index (Closed 3.2 on 01-09-2) is in favor of a reactionary correction from the bottom of 20.8. At present the average for 15 days is 4.5 and for 8 days it is 310.30 and for 200 days it is 313.50. The daily MACD is pro-reform. The weekly MACD is pro-softening. Displays neutral position from overboat on daily and weekly basis as well as overboat on monthly basis. If you jump 20, 20200 on the top 6, the possibility is up to 205, 20200. The bottom is considered to be 200 support below 50. The market can make a market top around Wednesday-Thursday. Godrej CP (closing price of Rs. 4.00 dated 01-07-8) is in favor of reactionary correction from the bottom of 8.10. At present, the average for 15 days is 215 and for 8 days it is 4.5 and for 200 days it is 4.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Overbought on a daily basis, towards neutral on a weekly basis as well as an oversold position on a monthly basis. If 4 jumps on top of ...

- Antenna: Vivek Mehta - Demand for cotton yarn and fabrics and garments breaks in international market after cotton prices rise Cotton prices have skyrocketed in the international market. Foreign speculators and companies are booming in the Indian cotton and textile market through the MCX exchange. Arun Dalal of Cotton Market says Life has never seen such high cotton prices. The price of cotton has gone up to a level never reached in the history of 5-30 years. The start of the Rooney season was priced between Rs 2,000 and Rs 50,000. Today, Rs. 2000 to 30,000. The price of cotton candy (5 kg) is Rs. 3000 quotes are being done. Price quotes are believed to be sitting on cotton stocks. Speculators want the price of cotton to be Rs. 1 lakh. New York futures have reached 181 cents. Prices have risen due to speculation rather than demand. International hedging funds have speculated. So prices have skyrocketed. The cotton crop is low, but not so low that prices go up. Therefore, the texti...

- New concept of rating system for transport by rail instead of road transport Indian Railways is bringing the concept of rating system. This will give 'Rail Green Points' to those companies which prefer railways over road transport for freight. Road transport emits four times more carbon. Sources in the Railway Ministry said that freighters should know how much carbon emissions they have saved by opting for rail transport instead of roads. Carbon savings will be estimated per tonne and consumers will be given rail green points. The Rail Green Point account of each freight customer will be maintained in the Freight Operations Information System. Although Indian Railways will not offer any financial benefits in return for these green points, it is hoped that it will be able to persuade companies to stay away from road transport. Companies can display this rating in their communications and annual reports. The Energy and Resources Institute has been tasked with developing an...

- Antenna: Vivek Mehta - Whether the sales shown in e-way bill are reflected in GSTR-2 insurance or not should also be carefully compared. The scandal of bogus billing and taking input tax credit in goods and services tax does not leave the government in the lurch. The collusion of some officials is equally responsible. The officials are the ones who are making huge sums of money by giving scams to people like their folders. The government is facing billions in this. Even the bigwigs of the Goods and Services Tax are not unaware of this fact. They also cannot replace responsible officials under the influence of wealthy corporates. Politicians are also becoming the hands of corporates in this matter. As a result, the bogus billing scandal does not stop. It has come out a year and a half ago that all the officials of Bhavnagar GST office in Gujarat were involved in it. The government is satisfied with their transfer and suspension of the two. But the bogus billing activity that starte...

- Industrial Guidance: Dhiru Parekh Detailed information about candle production The lamp, the symbol of light, has become popular with the changing times. In each case, they have seized it, despite obstacles we can scarcely imagine. " Diwali is the festival of giving light to darkness and welcoming light. In life, light and darkness go hand in hand. But man has to leave the shadow and move on to the path of light. That light is bliss. Candles are used not only on the light festival Diwali but also during formal and informal nights. Candles are at the forefront of every such ritual, such as birthday parties, weddings, wedding ceremonies, in different worships, in the absence of electricity, in the temple of the Christians, in the eleventh of the Parsis. The importance of the lamp is no longer limited to the Diwali festival but the lamp has become an integral part of human life. Light is not only light but also knowledge, progress, savior of darkness from the time of gods and ...

- The country has not seen the expected increase in solar and wind energy production Russia's invasion of Ukraine disrupted the supply of crude oil and gas around the world, including in India. Most countries in the world depend on imports of crude oil and gas from a handful of countries for their fuel needs. The rise in global fuel prices has a direct impact on the economies of importing countries and also puts their financial position under pressure. The emphasis has so far been on reducing the use of conventional fuels such as coal and petrol-diesel as part of reducing pollution in the world, including India, and replacing non-polluting energy. But nothing solid happens. Russia-Ukraine has told the world that there is an urgent need to increase its consumption of renewable energy. Renewable energy consumption is also cheaper than conventional thermal power, although its output does not increase as expected. There is no denying that crude oil and gas prices will fall after the...

- Lithium prices soar like spring: Cobalt and nickel prices also rise: Battery manufacturers start looking for new alternatives? In the wake of the Ukraine-Russia war, trends in various markets and industries have been rapidly reversing recently. Crude oil prices in the world market recently reached a new high of 17 years. Petrol-diesel, gas, etc. prices have risen globally due to the rise in crude oil. Rising diesel prices in the US recently hit a record સાત 7 a gallon. The rise in petrol-diesel prices has also adversely affected the market demand for its vehicles and the stock market has recently come under pressure from various automakers in the country and abroad. However, in such an environment, market experts are showing the possibility of increasing the market size of electric vehicle EV sector vehicles. Globally, Tesla started making EV vehicles years ago and recently various vehicle manufacturers in the country and abroad have seen a rapid shift towards EV vehicle products. ...

- Bullion Bits: Dinesh Parekh - Gold prices in the world market will rise to 22 2200 this year: the current price is around 1950 dollars! While the United States and European countries are worried about Russia's threat of a nuclear attack in the world market, Ukraine has not surrendered on the battlefield and Russia has started attacking and destroying Ukrainian cities. US Fed Chairman Jeram Powell has hinted that the April-May rate hike will raise interest rates by 1 / 2- 1/2 per cent to curb rising inflation. Felt to spot. And at the end of the week, the price was 15. This is a time of war, in which inflation has set in and gold is booming. America is doing a financial section on the one hand and increasing its debt by printing notes to keep the financial flow to the treasury which will work to give more pain to the Americans. Borrowing new money confuses American tax payers. In addition, 90% of Americans are unable to save at all and are being pressured under the burden of i...

- Aataapakarana Atapata: Dhawal Mehta World economy in disarray: Russia's invasion of Ukraine has damaged the world economy. While the world has barely emerged from the Covid epidemic, it is in a state of war created by Russia. The economics and politics of the world are in a state of turmoil at the time of writing. In the second week of March, crude oil prices soared to ૩૯ 12 a barrel during the war. In December 2021, the price of crude oil, which was three months ago, almost doubled in just three months. Of course, now it has come down to about ડો 100. Rising crude oil prices will hurt many countries, such as India, which do not rely on fuel oil imports. The world's economy was plunged into an 'oil crisis' when OPEC (oil producing country) countries suddenly doubled and tripled fuel oil prices. The crisis gave birth to the market economy of Margaret Thatcher in Britain and Ronald Reagan in the United States. Now this ideology of market fundamentalism has given birth...

People-oriented guidance: - H.S. Patel IAS (Retd.) Quality, Uninterrupted Changes in the current agricultural zoning system are inevitable Continued from the past As mentioned in the previous article about electricity supplied to Gujarat's agriculture sector through four state government owned power distribution companies (Discoms) as well as technical and commercial matters of the entire power sector. The zoning system (including rotation to night zones) was introduced as part of load management, which is still in force today after the implementation of 'Jyotigram Yojana' in villages. Before it was decided to provide electricity to the rural area (village level) through Jyotigram for 3/4 hours in the villages, agriculture and lighting was provided in the villages through GEB's rural feeder. Which had a lot of irregularities. In contrast to the intermittent distribution in three phase agriculture, farmers used electricity using Capacitor-Tata, which had no quality ...

- Commodity Current: Jayavadan Gandhi Trading in futures and futures is almost sluggish as most of the state's agricultural markets will be closed for a week due to the March ending. Last week's sell-off in agricultural markets put a brake on the sell-off. However, the peasantry is happy to see farmers getting double the price of their produce this year. Central as well as state governments are keen to forgive farmers' debts as well as provide other financial assistance. Markets for most agricultural products are also higher than support prices. This year, the government has been pushing hard to increase wheat exports, especially due to Russia and Ukraine. Following the incentive policies of the government, the production of foodgrains in the country in the year 2021-2 has also reached a record break of about 206 million tonnes. The country has become almost self-sufficient in all food items except edible oil. In the last seven years, support prices have risen by 5 per ce...

- Sales tax: Soham Mashruwala Provision is made for Form Verification under Section 31 of GST Act. It is stated in the clause that if any defect is found after verification of the form, the answer has to be reduced by the officer in case it is not satisfactory. This raises the question of a time limit as there is no time limit in section 21 of the CGST Act. In addition, the government has issued instructions to conduct an investigation. CBIC-20006/4/2022-GST NOTICE NO. 02/2022-GST dated 6th March 203 Today's article discusses the issue of sheet verification. Section 21 and Rule 3 Section 21 of the CGST Act empowers the Accounts Officer to verify the form and in case of any defect, details have to be sought from the person registered in the sample ASMT-10 within 30 days as per Rule 3. The registered person has to pay the amount if the difference is valid and reply in ASMT-11. If the officer deems it more appropriate, the person registered in ASMT-12 has to be informed. If all el...

- Chart signal Ashok Trivedi The BSE Index (closed at 8.30 am on 3-08-2) is in favor of a reactionary correction from the bottom of 20.8. At present, the average for 15 days is 6.5 and for 4 days it is 314.5 and for 200 days it is 303.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows positions from Overboat to Neutral on a daily basis, Overboat on a weekly basis and Overboat to Neutral on a monthly basis. Above 6 is considered 518 important surfaces. If the bottom 510 breaks down to 2, the possibility of up to 200, 50, 50, 2050, 50, caution is required in the new loan. Biocon (closing price of Rs. 2.30 dt. 3-06-9) is in favor of reactionary correction from the bottom of 214.10. At present, the average for 15 days is 4.5 and for 8 days it is 4.5 and for 200 days it is 8.50. Daily and weekly MACDs are soft. Overbought on a daily basis, oversold on a weekly basis and oversold on a monthly basis. Below are 3 support counts. B Soft (closing price Rs. 2.30 dt. 2-06...

State-owned oil marketing companies have decided to increase the price of diesel by Rs 5 per liter, keeping retail prices unchanged for wholesale consumers. This is expected to create huge discrepancies in the fuel market. After this, questions will also arise about price reform. Last week, three state-owned companies, Indian Oil, HPCL and BPCL, which account for 50 per cent of fuel sales, hiked fuel prices for wholesale consumers such as public transport buses, industries, airports, malls and Indian Railways. In Mumbai, the price of diesel for wholesale consumers has gone up to Rs 19.05 per liter while retail consumers are getting petrol at Rs 2.15 per liter at the pump. In Delhi, the prices are Rs 115 and Rs 2.5 per liter respectively. Of course, the Russia-Ukraine war caused a sharp rise in crude oil prices and so this rise was also long overdue. Doubling the rate for diesel is a retaliatory measure and is detrimental for a number of reasons. Prices at petrol pumps have long been s...