Market and Business News

Stock markets will be closed on Monday on Maharashtra Day MUMBAI: An overall encouraging start to Corporate India's January-March 2023 Q4 results season has boosted stock market sentiment. Along with the company results, this time the season of high dividend and buyback of stocks has also started, after the correction in the stocks, buying has started to increase again. Foreign Portfolio Investors (FPIs), who were short sellers in the last financial year, have been big buyers of stocks in April, resulting in a bullish rally in small, mid-cap stocks in the side market now following a rally in index-based funds. In one month, Sensex has increased by 2121 points or 3.59 percent from the level of 58992 on March 31, 2023 to the level of 61112 and Nifty spot has increased by 4.06 percent or 705 points from the level of 17360 to the level of 18065. As the situation worsened as a result of drastic increase in interest rates by the Reserve-Central Banks of various countries in the past fe

- Risk of dollar funding becoming more expensive - India should take advantage of G20 chairmanship to promote Reserve Bank banking practices The storm that destabilized the banking system in the US and Europe has now subsided. But this does not mean that there is relief. As sudden as this storm was in March, it could happen again at any time. A banking failure in the US and the near-failure of major banks in Europe will certainly affect the various economies. In such a situation, the world cannot remain untouched. As with monetary policy, we need to look at how banking instability in developed countries affects the rest of the world. Growth rates are expected to slow down in America and Europe. Slow credit growth will impact the Gross Domestic Product (GDP) and it will come down. A slowdown in America and Europe will also affect export demand, which will have an impact on the economies of other countries. Capital flows will become more uncertain and dollar funding will become more e

- Commodity Current - Jayavadan Gandhi Nowadays, the income ratio of farmer goods in agricultural markets is above the top level. In the market yards like Unjha and Gondal, with lakhs of sacks being traded, a fair-like atmosphere is being seen even in the heat of summer due to the presence of farmers-traders in the yards. Yards are booming with significant revenues of cumin, fennel, isabgol in Unjha market along with revenues of one and a half to two lakh bags of coriander in Gondal yard. Chana was hot last season. While this year coriander has emerged hot. Even in the case of Mavthas, despite the chances of reduction in harvest, due to the abundant production of goods, the yard is seeing a situation as if there is a glut of coriander goods. Pressure on coriander revenues has put a brake on the boom. In the current market, the prices of coriander are in the range of Rs 900 to 1800 per mane and the prices of coriander are in the range of 1100 to 2500 per mane. Coriander futures have a

- Sales Tax - Soham Mashruwala Under the GST Act, the government frequently brings amendments and additions. If there is any mistake on the part of the supplier, the authority recovers the amount from the supplier, but if the GST portal fails and the supplier fails to fill the form, no relief is given. To top it all off, there is a very peculiar provision under the GST Act regarding common expenses and services provided by head office to various branches in case of companies having GST registration number in more than one state. The tendency to collect GST from all sides will disrupt the economic system and adversely affect business. In the last GST Council meeting, a decision was contemplated that there would be no need to take numbers in different states. A registration with a state has been forgotten. The provision of cross charge in multi state GSTIN for entities which are not eligible for tax credit such as electricity company, gas distribution company and companies involved in

- China is number one with 644 million 5G customers, which is about 38 percent of the total customers Six months after the launch of 5G services in India, the number of 5G users crossed 50 million this month, an important milestone. The Department of Telecom has confirmed this figure based on data submitted by Bharti Airtel and Reliance Jio. This means that as of December 31, 2022, the number of 5G subscribers has now increased to 4.37 percent of the country's total subscribers, based on TRAI data. It is estimated to be around 6.5 percent of the total 4G subscribers of 773 million. On a global scale, by the end of last year, India's share of the world's 1 billion 5G subscribers has now dropped to 5 percent. India has already approached Western Europe in terms of number of 5G subscribers. According to a report by Ericsson Mobility, Western Europe said goodbye to 2022 with 63 million 5G customers (11.5 percent penetration). Despite two years of initial gains it looks like

The rich will have to pay more taxes The report concludes that the government has undertaken an exercise to overhaul the rules of direct taxes to put a brake on the rise in income inequality. India is dependent on revenue from indirect taxes rather than direct taxes. At present 30 percent tax on earnings is applicable in the country. However, the tax rates on earnings from equity funds and shares are very low. Thus, this exercise has been undertaken keeping all these points in mind. This exercise is likely to impose high capital gains tax on the rich. India's ranking in mobile speed increased After the growth in mobile usage and its production, now the ranking of mobile speed in India has also increased. According to a report by Network Intelligence, India has advanced by two points in the global ranking on the issue of mobile speed in the last month of March. India was at 66th position in February-'23, it is at 64th position in March-'23. The average mobile download sp

- Bhoo Bazar - Dilip Shah - Widening gap between prices of weak-medium commodities and prices of good commodities: decision to export wheat to Afghanistan The grain markets of the country have recently seen a reversal of trends. This year in various wheat producing states of the country due to unseasonal rains, storms, storms, hail etc. affecting the wheat crop, there is a shortage of good quality wheat in the grain markets and the difference between the prices of poor-medium and good wheat in the markets has increased significantly, according to market informants. said. In the Navi Mumbai wholesale grain market, the price of wheat has been seen as low as Rs.2700 per kg and as high as Rs.3700 to 4000 per kg. Meanwhile, grain markets in the country recently opened after various markets and wheat receipts increased after April 10-12. And due to this, the price of weak and medium type of wheat increased, and there was a retaliatory decrease of Rs.250 to 300 per kg. However, there were

- The improvement seen in the condition of cash-strapped discoms must be sustained A report by the Power Finance Corporation, providing a picture of the financial position of 71 power distribution companies in the country for the year 2022, indicates that the condition of the country's discoms is improving, but the condition has not improved as fast as expected. Despite the various schemes and support provided by the government to help discoms, the situation is not yet commendable. Particularly high debt burdens still make the future of discoms look bleak. The gap between the cost of providing electricity and the average revenue has come down from 79 paise per unit in fiscal 2020 to 40 paise per unit in 2022 which is a good thing as it has increased the cash flow of discoms, he said. can be Aggregate technical deficit which was 21.50 percent in FY2021 also came down to 16.50 percent. The loss target has been set at 12 to 15 percent for discoms to take advantage of the revamped d

Boolean Bits - Dinesh Parekh Importers limit gold imports: Total gold imports this year are expected to be 60 percent higher than last year In addition to the indication that the Fed will meet the interest rate in the world market, the gold boom has stopped as the dollar strengthened and the price of gold dropped from the price of 2035 dollars per ounce to 1995 dollars per ounce quoted to 2008 dollars. But the following reasons indicate that investors are buying spot gold. (1) Everyone is buying gold to provide security against financial risk (2) Focusing on gold and buying gold to get more security of their property than investing elsewhere (3) Everyone is buying gold by hedging as gold provides security against inflation are attracted to invest, and add gold to their portfolio. There will be a boom in gold prices as people start investing in gold believing that gold is the best investment to secure against the bankruptcy of many banks and financial crisis, people are afraid that i

- The target of Indian Railways to earn 10% of total revenue from non-fare sources is unclear Between 2017 and 2021, Indian Railways earned less than the target revenue from non-passenger fare sources such as catering, advertising, parking, rest areas. However, the Railways generated more revenue than the target by selling the scrap. This information is derived from the Comptroller and Auditor General's (CAG) compliance audit report on Railways presented during the recently concluded budget session of Parliament. In which the revenue of the railways has been presented in four years during the year 2017-21. The CAG noted that the Railway Board had started a policy of advertising through movable assets in January 2017. The objective of this policy was to facilitate Indian Railways to introduce combined train packages equipped with internal and external advertisements. The report said that in February 2018, the Railway Board decided to hand over bid management to Zonal Railways du

Gold futures fell by Rs.735 and silver by Rs.1426 weekly A total turnover of Rs.3,60,030.56 crore was recorded in 51,28,134 trades during the week of April 14 to 20 in various commodity futures, options and index futures on the country's leading commodity derivatives exchange, with commodity futures accounting for Rs.1, 10,327.87 crores and the share of options was Rs.249405.18 crores. During the week under review, precious metals futures in gold and silver accounted for Rs 70,094.63 crore in 10,43,147 trades. In gold futures, MCX gold June futures opened at Rs.61,038 per 10 grams at the beginning of the week, touched an intra-day high of Rs.61,170 and a low of Rs.59,653 during the week, falling by Rs.735 to Rs.60,53 at the end of the week. The price was reached. Against this, the Gold-Guinea April contract fell by Rs.355 per 8 gram to Rs.48,209 and the Gold-Petal April contract by 1 gram fell by Rs.20 to Rs.6,039. Gold-mini May futures fell by Rs.598 to Rs.60,389 per 10 grams.

MUMBAI: The Finance Ministry has modestly reduced the tariff value for calculation of duty on domestically imported gold with effect from today while maintaining the tariff value for silver. On the other hand, the Mumbai jewelery market was closed today on the occasion of Saturday, but prices of precious metals were said to be moderately high in private. In the global market, gold and silver remained firmly closed at the end of the week. There was an improvement in crude oil prices. The dollar remained steady at home privately. The tariff value per ten grams of gold for calculation of duty on import of gold has been slightly reduced from $646 to $639. The tariff value for silver has been maintained at Rs 815 per kg. A modest reduction in the effective import duty on gold may be seen. Meanwhile, the Mumbai jewelery market was closed today on the occasion of Saturday, but due to the firm closure of Sonachandi abroad over the weekend, the prices here were said to be moderately high. Th

image : Wikipedia The ED (Enforcement Directorate) conducted raids and seizures at three places in Bangalore in the case of Ravindran Baiju and his company 'Think and Learn Private Limited' under the provisions of the Foreign Exchange Management Act (FEMA). Two offices and one house were raided. The company runs a popular online education portal called Byjus The company runs a popular online education portal called Byjus. Several incriminating documents and digital data were seized during the investigation. The ED said the company has not prepared details of its financial transactions from the financial year 2020-21. which is mandatory. The company received 28 thousand crores from abroad during 2011 to 2023 The raid also revealed that the company had received foreign direct investment of around Rs 28,000 crore during the period 2011 to 2023. Apart from this, the company has invested Rs. 9754 crore abroad. were sent About Rs 944 crore in the name of advertising and marketi

Mumbai: In the Indian stock markets, foreign portfolio investors (FPIs) have again become buyers of stocks in large numbers, many stocks have recovered from the decline and have risen rapidly. Along with this, the wealth of investors in stocks, i.e. the aggregate market capitalization of companies listed in BSE, has increased by Rs. 13.63 lakh crore in the first month of the current financial year 2022-23, April. The wealth of investors in stocks which was Rs.258.19 lakh crore at the end of March 31, 2023, has increased by Rs.13.63 lakh crore in one month to reach Rs.271.82 lakh crore at the end of April 2023. Sensex has increased by 3.59 percent i.e. from the level of 58991.52 to 61112.44 in this one month. Sector-wise realty stocks have seen the most traction, BSE Realty Index rose 14.78 percent to 3560. In realty stocks, DLF rose to Rs 425 from Rs 357 in a month. While Godrej Properties has increased from Rs.1030 to Rs.1315, Indiabulls Realty has increased from Rs.48 to Rs.73. Al

- Sebi Supreme Court plea, likely to be heard in May - Suspicion of multiple breaches of regulations including financial misrepresentation and fraudulent transactions by the Adani Group New Delhi: Markets regulator Sebi has sought six more months from the Supreme Court to complete its probe into allegations by American short-selling research firm Hindenburg that the Adani group was 'manipulating share prices' and 'manipulating accounts'. In an application before the Supreme Court, Sebi has said that since the investigation in this case is very complex, it needs more time to investigate all aspects. In its petition before the Supreme Court, Sebi said there are 12 suspected transactions for possible violations related to misrepresentation of financial matters and fraudulent transactions. SEBI's plea is likely to be heard in the first week of May. Sebi said in the petition that as per its preliminary findings, there are suspicions of misrepresentation of financial

MUMBAI: On one hand, the government is taking up big projects to build infrastructure in the country and huge capital expenditure is being budgeted for, but the amount of project delays is also increasing, resulting in an increase in the cost of delivering the projects. . In 2018, the percentage of projects lying in slack of the central government which was 19.30 percent increased to 56.70 percent at the end of March 2023. It is believed that the number of projects of the central government currently lying in slack is the highest in the last twenty years. According to data from the Ministry of Statistics and Program Implementation, the Center currently has 1,449 projects in operation. An increase of 22 percent in the cost of delayed projects is being estimated. Most of the delayed projects include railway projects. If a project gets delayed for a period of more than three years, the cost of completing it increases drastically, said government sources.

New Delhi: After the recent banking crisis in America, there is a threat to the existence of the dollar. According to the information received, many countries of the world are thinking about the issue of de-dollarization. The sovereigns of various countries are looking to reduce their dependence on the dollar after the US banking crisis. However, financial experts are of the opinion that this process will create other hurdles along with affecting the country's exchange rate. As for de-dollarization, China and Brazil have moved in this direction. Since last month these two countries are doing business in each other's currency. Argentina also recently said it would pay China in yuan instead of dollars. China and Russia are also discussing de-dollarization. While Iran and Russia are preparing to develop a new crypto currency. which will be used in payment. India and Malaysia are now trading in rupees. The Saudi finance minister recently stated that he is willing to trade in o

- Economies will adopt new mechanisms due to climate change, thereby changing the nature of mitigation measures GDP also does not take into account the environmental damage caused by economic activities. The impacts on people facing climate change are also beyond its scope. Ironically, cutting down trees increases GDP. The same thing happens after replanting. But this may cause GDP to lose some of its current quality. Given the growing efforts to curb carbon emissions and climate change, huge investments are being made to build renewable energy capabilities, pushing electric vehicles. In some countries, coal-fired power plants are being closed down and renewable energy is being emphasized. The load on petrol and diesel cars is decreasing. Soon their number will begin to decrease and the road will be paved for electric vehicles. Over the next decade, many large traditional industries will begin to go out of trend. In such turbulent times GDP can be misleading. Churn can only be under

- Chart Indication- Ashok Trivedi The BSE index (close 59655.06 on 21-04-23) is soft from a top of 60486.91. Currently, the 12-day average is 59577.84, the 48-day average is 59454.92, and the 200-day average is 59144.65. The daily MACD is bullish. Weekly MACD is bearish. Oversold on a daily basis, overbought on a weekly basis and oversold on a monthly basis indicate positions. Above 59850, 6060, 60170 are considered resistance levels. 59412 down to 59200, 59000, 58780, 58570, 58150, 58100 possible. Bata (closing price Rs.1481.30 on 21-04-23) is in favor of correction from the bottom of 1381.05. Currently 12 day average is 1419.05 and 48 day average is 1446.74 and 200 day average is 1613.33. The daily MACD is bullish. Weekly MACD is also bullish. Shows overbought position on daily basis, neutral on weekly basis and oversold position on monthly basis. 1484 above 1494, 1533, 1552 possible. Below 1457, 1440 is considered support. BHEL (closing price Rs.75.25 on 21-04-23) is bullish fro

- Industrial guidance - Dhiru Parekh Water is a useful compound in the world without which no life can function. Water The human body is 65 percent water and some plants are 90 percent water. Water is an essential solvent for biological life. Water, rocks, rivers are available in lakes. Most of the water is in the air. That is what we call humidity. Of course, that is nature's balance sheet. It is difficult to say when we will get it. More than 50 percent of rainwater flows into the sea. And 30 percent of water stored in dams and lakes evaporates. Public awareness is necessary on this issue. Recharging wells and making underground tanks is a simple solution. So that rain water can be useful to us to some extent. Today in Gujarat Mahi Yojana, Narmada Kalpsar.....it is a good thing if the state government thinks or starts such big projects. But it doesn't happen for many reasons. - If the well is recharged or the underground tank is built, how can the ruler get political benef