Market and Business News

Kolkata: The Engineering Export Promotion Council of India (EEPC) said that the diplomatic tension between Canada and India will not have a significant impact on the country's exports. India's exports to Canada in the financial year 2022-23 stood at $4.10 billion. Keeping in mind the long-term relationship between India and Canada, we do not see any significant impact on our exports and trade in Canada, Council Chairman Arun Kumar Garodia told PTI. He hoped that the impasse would be resolved soon and India's exports would continue to grow. India and Canada have long-standing trade and cultural ties. He assured that the current dispute is temporary and will be resolved politically. He expressed hope that free trade agreement talks between the two countries will resume after the dispute is resolved. There is currently a dispute between India and Canada over the issue of Khalistan.

Image Twitter Dt. 27 September 2023, Wednesday The month of September has come to an end and some financial works need to be done in this month. That is, September 30 of this month is the deadline for some works. One of the necessary tasks was to link the name of the nominee with the Demat Account Nominee, although the market regulator SEBI has given a big relief on this. SEBI has extended the nomination deadline from 30 September to 31 December 2023. That means three months time has now been given to do this necessary work. Why is it necessary to enter nominee's name in demat account? SEBI had set a deadline of 30 September 2023 for completing the nomination process in Demat-Mutual Fund Accounts, which has been extended. If this necessary work is not done by the specified date, the account of the account holder will be frozen. The market regulator (SEBI) has made it mandatory to enter the nomination name in the demat account. This rule is mandated to help investors protect t...

Important Work to do Before Month End: There are only four days left for the month of September, when there are many important financial works that need to be completed in these four days. If this work is not completed by this deadline, your difficulty may increase. Among them, the most important thing is to change Rs 2000 notes to invest in SBI WeCare FD scheme, just four days left. 1. Rs. Last date for exchange of 2000 notes The last date for exchange of Rs 2,000 notes is September 30, 2023. In such a situation, it is necessary to check the list of bank holidays specially. Exchange the Rs 2000 notes lying with you at the nearest bank as soon as possible. Failure to do so may lead to more problems after September 30. RBI has withdrawn Rs 2000 note from circulation on May 19, 2023. Also advised to deposit this note circulating in the market in the bank before September 30, 2023. Now only four days are left. 2. Aadhar Update for Small Savings Scheme The month of September is speci...

Byju's, the largest edutech firm in the country, is once again facing the threat of lay off. Company's CEO Arjun Mohan (Byju's CEO Arjun Mohan) has prepared a cost cutting plan by expediting the restructuring exercise. According to the report, around 4,000 employees may be laid off this time. Retrenchment threat clouds over 11% workforce Regarding this, Arjun Mohan, who took over as the CEO of Byjus in India last week, has informed the management of the company about this plan. According to a report, Byju's company, facing a funding crunch, is planning cost-cutting to streamline its operational structure. As part of this business restructuring exercise, it plans to lay off 11 percent of the company's total workforce. The number of these employees may be around 4000. How many employees are currently working in Bangalore? According to sources, the Bangalore-based edtech company has a total workforce of around 35,000. Earlier also in June 2023, the company had lai...

Byju's, the largest edutech firm in the country, is once again facing the threat of lay off. Company's CEO Arjun Mohan (Byju's CEO Arjun Mohan) has prepared a cost cutting plan by expediting the restructuring exercise. According to the report, around 4,000 employees may be laid off this time. Retrenchment threat clouds over 11% workforce Regarding this, Arjun Mohan, who took over as the CEO of Byjus in India last week, has informed the management of the company about this plan. According to a report, Byju's company, facing a funding crunch, is planning cost-cutting to streamline its operational structure. As part of this business restructuring exercise, it plans to lay off 11 percent of the company's total workforce. The number of these employees may be around 4000. How many employees are currently working in Bangalore? According to sources, the Bangalore-based edtech company has a total workforce of around 35,000. Earlier also in June 2023, the company had lai...

MUMBAI: Foreign institutional investors (FIIs) have sold equities worth Rs 21,287 crore net in the Indian stock market so far this month, the highest since January 2023, Securities and Exchange Board of India (SEBI) data said. In January of the current year, FIIs sold equities worth Rs 41464 crore net. As far as the current full year is concerned, FIIs have reported a net sale of equities worth Rs 17,725 crore so far. The sell-off has come as a result of higher valuations and negative factors globally. High valuations of Indian equities could be a cause for concern at a time when global stock markets are under pressure due to high crude oil prices, housing crisis in China and economic slowdown, an analyst said. The final meeting of the US Federal Reserve has signaled a prolonged period of high interest rates which could be detrimental to economic growth. High interest rate conditions reduce equity investment flows. High crude oil prices and increase in raw material prices are affe...

Ahmedabad: Brokerage firm Nomura has upgraded India's rating from 'neutral' to 'overweight'. The China Plus One policy has a major role behind this upgrade. Global companies are looking for an alternative to China for business and India will be the best investment and manufacturing location for them, Nomura said in a report issued to investors on September 27. However, Japanese brokerage firms have taken a cautious stance on Asian stocks as the US central bank Federal Reserve's interest rate hike policy to curb inflation and rising commodity prices could prove detrimental. Nomura has warned that higher interest rates and bond yields in the US could lead to a major recession in 2024 if the Federal Reserve does not change its stance. Nomura's report said that despite the possibility of a cyclical slowdown, India's fundamental attractiveness has not been affected. Stock markets thrive in K-shaped economies, in which earnings growth is high and domestic ...

Ahmedabad: In the first 9 months of the calendar year 2023, the value of merger and acquisition deals in the country has decreased by 69.1 percent to 50.8 billion dollars compared to the same period last year. Amid rising interest rates and geopolitical turmoil around the world, weakening investor sentiment has dampened merger-acquisition deals. According to Bloomberg data, this value of acquisition deals is the lowest in the last 5 years. The Canada Pension Plan Investment Board's $4.03 billion purchase of additional shares in Renew Power is the biggest deal so far this year, according to Bloomberg data. Bankers say global private equity firms have $3-4 trillion of investable funds. These companies have $10 to 15 thousand crores for India and are looking for better investment opportunities in technology, renewable energy and infrastructure sectors. Some of the biggest deals this year could include Cipla's promoters selling a stake in the company, which could be worth around...

MUMBAI: After the launch of the SME exchange platform, which was started with the aim of providing flexibility to small and micro companies to raise capital in the Indian stock markets, the storm in the stocks that started going unchecked in this segment has now come under the radar of the regulatory body SEBI, the SEBI has been forced to take immediate steps to curb this rampant speculative storm. . But what other main reasons, factors forced SEBI to intervene in the storm in the stocks of these SME companies listed on the BSE MME and NSE Emerge platform, remains to be seen. Investors need to know these factors for their own interest and security before investing. Whether the SME IPO mainboard is the link between the main stock markets or the means of manipulation is a big question that is difficult to solve. To know the difference between mainboard and SME of share markets, the minimum number of subscribers or allottees is 1000 in mainboard and 50 in SME. The minimum amount to app...

Mumbai: Gold and silver prices fell further in the Mumbai jewelery market today. New demand was slow. The sales in the market increased as the world market tumbled and the import cost at home came down. Gold prices in the world market were 1890 to 1891 to 1892 dollars per ounce from 1912 to 1913 lows. In the world market, the dollar index and bond yield increased, there were indications of increased selling of funds in gold. Behind gold, global silver prices were also lower by 23.02 to 22.67 to 22.78 to 22.79 dollars per ounce. Meanwhile, in the domestic Ahmedabad market today, the price of gold fell by Rs.500 per 10 grams to Rs.99.50 and Rs.60,500 per 99.90. Gold prices in Ahmedabad market fell by Rs.1000 in two days. Ahmedabad silver prices today fell by Rs.800 per kg to Rs.72,200. Ahmedabad silver prices fell by Rs.1800 in two days. Meanwhile, crude oil prices rose in the global market today even as pundits expressed surprise as gold prices collapsed. Brent crude prices rose by 92...

MUMBAI: On the global front, Indian stock markets snapped a six-day slide today as the property market in China continues to face fresh crises, while sentiment in global markets remains subdued as bond yields in Germany hit 12-year highs in Germany and 16-year highs in the U.S. on the other hand, Reliance, Larsen & Toubro, ITC, Maruti Suzuki led the fund's boom and took a U-turn. At the beginning of trading, selling in banking-finance stocks and selling in Nestlé India, Titan Company, etc. initially saw the Sensex drop by 396 points to 65549.96. 69 was closed. The Nifty spot initially fell by 110.70 points and then came back to a low of 19554 and finally rose 51.75 points to close at 19716.45. Reliance increased by Rs.28 to Rs.2369 Sensex, the frontline stocks that played a major role in giving a U-turn to the Nifty-based market, today closed at Rs 2369.10, up by Rs 27.55 on heavy buying by funds in Reliance Industries. Funds bought heavily in Reliance Industries on reports ...

MUMBAI: India's ban on rice exports has sent rice prices soaring across the world, risking political uncertainty and social unrest in Asia and Africa. Rice is a staple food for fifty percent of the world's population Global rice prices are currently at a fifteen-year high following the ban on rice exports. India accounts for forty percent of the global rice trade. A report by the United Nations agency has also raised the issue of food security in many countries due to supply disruptions. Rice is the staple food of fifty percent of the world's population. When the global rice crisis occurred in 2008, 100 million people were at risk. Most of the impact was seen in Africa. In the past too there has been an atmosphere of unrest due to scarcity of food grains. Rice may be a bigger concern for food safety than wheat, the report noted. Some African countries that rely on rice imports are starting to feel the effects of higher prices.

New Delhi, 25 September-2023, Monday With assembly elections in many states followed by Lok Sabha elections, the dream of buying a home for the middle class will come true before that. Before the elections, the Modi government has planned to introduce housing loan subsidy, if it actually changes, interest on home loans below Rs 50 lakh can be discounted up to a maximum of Rs 9 lakh. Plan to spend Rs 60,000 crore on subsidies The Modi government is planning to spend Rs 60,000 crore on housing loan subsidy. Small urban housing will be at the heart of this scheme. On which the government can offer interest exemption on home loans for the next five years. Around 25 lakh home loan borrowers are likely to benefit from this scheme. In this way, you will get the benefit of discount on home loan interest The agency reported quoting sources that the bank may start this scheme in the next few months. If a person takes a home loan of 50 lakhs or less under this scheme for a period of 20 year...

How much gold can buy in Cash: Are you also planning to buy gold for Diwali, Dhanteras or your children's wedding? If yes then it is very important for you to know about the rules of income tax department. Even in today's era of online payments, many people prefer to buy gold in cash. So the question in the mind of many people is that how much gold can one buy in cash? Is there any limit on buying gold in cash or not? Rising demand of Gold People in India prefer to buy gold. The demand for gold also increases a lot during the festive season. Apart from this, people also invest in gold. The most important reason behind this is that there is no risk of losing money by investing in gold. Also, with time, the return is also very good. What does the Income Tax Act say? There is no provision in the Income Tax Act regarding the purchase of gold or gold jewellery. But the rule for buying gold in cash is clear. According to the Income Tax Act, it is not mandatory for a shopkeeper ...

SEBI in action to curb rampant speculation: Trade for trade, ASM surveillance measures MUMBAI: Seeing that the ongoing game of tricking gullible retail investors by washing their hands in the flowing Ganges is finally getting too much, capital market regulator Securities and Exchange Board of India (SEBI) has swung into action and reined in unbridled speculation in the SME IPO segment. . In the wake of SEBI's welcome decisions on measures including surveillance, trade to trade, circuit limits for the SME segment as well, many SME stocks were hit today amid a flurry of unbridled speculators in the SME segment. The BSE SME IPO index today fell by 3.17 percent or 1133.58 points to the level of 34631.12. As short-term price appreciation in SME IPOs is not in the interest of investors and the market, SEBA along with the exchanges have introduced a trade-for-trade settlement framework and short-term additional surveillance measures like the mainboard in this segment as well - Addition...

MUMBAI: In the Mumbai oil-seeds market today, Singoil prices fell behind Saurashtra today. Cottonseed oil was also mild. Prices of imported edible oils fell further behind the world market. In the present market of Mumbai, the price of 10 kg of single oil was Rs.1780 to Rs.1750 while the price of cotton oil was Rs.880 to Rs.870 to Rs.885. In Saurashtra, the price of single oil fell from Rs.1675 to Rs.1750 while that of washed cotton fell from Rs.785 to Rs.790. Mumbai imported palm oil prices stood at Rs.805 against Rs.810 while crude palm oil CPO Kandla prices stood at Rs.760 against Rs.765. However, the price of Mumbai sunflower was Rs.790 with Rs.780 while refined was Rs.870. The spot price of Mumbai diwali fell by Rs.10 today. While the current castor bean prices were soft at Rs.50 per kg. At Mundra-Hazira till October 10, palm oil prices were Rs.810 to 820 and soybean oil was Rs.880 to 890. At Saurashtra Gondal, the price of cotton refined was Rs.840 and palm oil was Rs.795 and ...

image : Envato The Directorate General of GST Intelligence (DGGI) has issued a pre-show cause notice to about a dozen companies working in the field of online real money gaming (GST Notice to Online Gaming Companies) in the country. The big thing is that this notice was worth around 55000 crore rupees. What does the notice say? It said fantasy sports platform Dream 11 has been slapped with a GST notice worth around Rs 25,000 crore, which may be the largest indirect notice ever issued in the country. People with knowledge in this matter gave this information. The GST demand figure will be staggering According to a report, more such notices may be issued in the coming weeks. Due to this, the figure of GST Demand Notice received by real money gaming companies may increase to over 1 lakh crore rupees. What is a pre-show cause notice? A notice for tax payable is issued by the authorities through DRC-01A form and in GST parlance it is called Pre Show Cause Notice. This is issued by t...

Saudi Arabia has taken a big step in the global oil market by reducing the premium on crude oil to 3.50 dollars a barrel. By last year, Saudi Arabia was charging a premium of around 10 dollars on crude oil. The decision will have a ripple effect on the global oil market and its consumers. With this decision, the government of India will now get a big advantage in the purchase of crude oil. So now it is hoped that this will reduce the price of Petrol-Diesel (Patrol Diesel) and give relief to the people. Saudi took this step because of Russia? It is being speculated that Saudi Arabia has taken this step to counter the cheap crude it is getting from Russia. With the reduction in Asian premium, India will now get crude oil from Saudi Arabia at a lower price than before. Saudi Arabia is the third largest oil exporter to India after Russia and Iran. India has always been against this premium Asian premium is the additional price charged by OPEC countries over the original price of crude...

Mumbai: JPMorgan Chase & Co. has decided to include Indian government bonds in its benchmark government bond emerging-market index from June 2024. The inclusion of Indian bonds is estimated to spur foreign investment flow of billions of dollars into the country's debt market. The primary estimate of which is currently being put up to 30 billion dollars. The index provider will begin inclusion of Indian securities in the JPMorgan Government Bond Index-Emerging Markets from June 28, 2004. These Indian government bonds will be included at the rate of one per cent per month for 10 months till March 31, 2025. Currently, 23 Indian government bonds with a combined notional value of $330 billion are eligible for inclusion in this index. Indian bonds will be included on the basis of one per cent per month. A statement said that the maximum weightage of India in this index will be 10 percent. JP Morgan's decision comes in the wake of the Indian government's introduction of ful...

Mumbai: The decision to ban the import of electronic equipment like laptops, tablets, servers, etc., seems to be shelved by the government for the time being. Large global manufacturers of electronic goods are believed to benefit if the license requirement is dropped. Instead of imposing an import ban, the government is considering to control the import of these products. At present, the government has decided not to impose any regulation on the import of these products, said government sources. Earlier, the importers had to get registered on the Import Management System from November 1, when the licensing system was to come into effect. In a meeting held on Thursday between the government and the stakeholders of the electronic industry, industry sources said that the government has signaled to postpone the import control. After six to eight months, the import authorization mechanism will be implemented which will be used to allocate quota to importers of electronic equipment lik...