A two-day strike by wholesalers and retailers across Maharastra to protest against the imposition of Local Body Tax (LBT) began on Monday, bringing trading activity to a grinding halt.
Pointing to the 'dangers' in the opening up of retail sector to multi-nationals and big Indian companies, traders in Kerala are gearing up to launch an agitation, if necessary an 'armed struggle,' to prevent their entry.
A Ganesh Nadar speaks to onion farmers in Nashik, India's largest wholesale onion market, about the high prices.
The price of the vegetable, which is ruling at Rs 60 per kg, went up to Rs 80 per kg last fortnight.
Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
Geopolitical headwinds leading to lower demand from export markets, coupled with lower domestic buying, have dragged the auction average of Darjeeling tea to its lowest level since 2015. Data from Calcutta Tea Traders Association (CTTA) shows that the average price of Darjeeling tea at Kolkata auctions for January-December 2023 was Rs 319.74 per kg. The last time it dipped below this level was in 2015 at Rs 285.71 per kg.
A Hindu trader was killed in Pakistan's southern Sindh province during the Eid holidays, triggering protests by the minority community in the Hyderabad region.
A large number of traders of Delhi went on a 24-hour strike on Friday as the Supreme Court-ordered sealing of illegal commercial establishments in residential areas continued in the city.
Futures trading in natural rubber has always been a bone of contention for traders, growers and manufacturers for quite sometime in India.
The consumer affairs ministry has assured the pepper and jeera traders that it would look into their demands.
A member of the minority Sikh community was kidnapped from an area on the outskirts of Peshawar city in northwest Pakistan, according to media reports.
If states have to fall in line with MSPs declared by political parties, they will have to do so in violation of central order or bear the full expense of the surplus procured at above MSP rates.
An association of traders has called a shutdown in Ahmedabad on Wednesday to protest the municipal corporation's plan to start collecting octroi from newly merged areas of the city. \n
The BSE has decided to move the expiry day of Bankex derivatives contracts from Friday to Monday, effective October 16, the bourse said on Wednesday. "New contracts of S&P BSE Bankex with Monday expiry will be generated on October 13, 2023, and will be available for trading with effect from October 16, 2023," the BSE said, citing the decision was based on the market feedback. The expiry of Sensex derivatives contracts will continue to be on Friday.
The Opposition party's prime ministerial candidate Narendra Modi on Thursday said India's millions of family-owned traders must learn to work with large modern shops and online retailers, in comments that could signal a shift in thinking.
Mahesh Savani, the diamond trader has been paying for the weddings of fatherless women in the city of Surat for several years.
Three prominent Hindu businessmen were kidnapped, along with their driver, by unidentified armed men in Sindh province of southern Pakistan on Saturday.
Attributing to Morgan Stanley CEO James Gorman, the report by the Financial Times said that the company plans to boost its under-performing securities business by hiring several hundred traders over the next few years.
Tomato prices are likely to touch Rs 300 per kilogram in the coming days and the prices of vegetables are also on the rise, according to wholesale traders. Kaushik, a member of Agricultural Produce Marketing Committee (APMC), said that vegetable wholesalers are facing losses as the sale of tomato, capsicum, and other seasonal vegetables has fallen drastically. He said that the prices of tomatoes have shot up to Rs 220 per kilo from Rs 160 per kilo in the wholesale market, owing to which retail prices can also go up.
The article in the Global Times on Tuesday criticised two strong advisories issued by the Indian Embassy here warning Indian traders of dangers in doing business at Yiwu in the aftermath of recent incidents of kidnapping and ill-treatment by local traders.
This has steered a rally in global equities and dollar Index also ticked higher, trading near its four year high.
Wouldn't it be better to join the celebrations with the vast Hindu majority while at the same time criticising Mr Modi/BJP/RSS for politicising it? notes Shekhar Gupta.
Non-resident Indians are bringing gold into the country by taking advantage of rules that allow each individual to carry 1 kg of the metal, helping traders cope with restrictions on imports during the peak wedding season.
Two categories of market participants seem to have made a lot of money in the past couple of weeks, short-sellers and volatility traders.
'In case the El Nino pattern plays out negatively and/or the political situation becomes messy, we may see markets correcting and waiting for the situation to become clear by early/mid-2024.'
The BJP is the preferred choice because it offers what the Mughals and later British offered in their time: A stable polity and an environment in which business could function, explains T N Ninan.
Bharatiya Janata Party's prime ministerial candidate, Narendra Modi, last month urged small traders to compete with foreign retail chains through e-commerce.
The CBI had on Sunday deferred his questioning after he sought time from the agency citing the Delhi government's ongoing budget exercise.
The banking system liquidity bounced back to surplus mode after three weeks, the Reserve Bank of India (RBI) data showed. This was due to government spending, according to dealers. The liquidity situation could further ease with the disbursement of the last tranche of incremental cash reserve ratio (I-CRR) worth Rs 50,000 crore on Saturday.
With the Income Tax department recovering over Rs 225 crore cash during a series of raids on an Odisha-based distillery group on charges of tax evasion, Prime Minister Narendra Modi on Friday assured the people that the money looted from the public will be returned.
Life Insurance Corporation of India (LIC) reported weak growth through H1FY24 but it witnessed a boost in embedded value (EV) due to equity-market performance. But concerns regarding its stock include loss of market share as it is outpaced by private sector rivals, sticky operating expenses (reduced slightly year-on-year but up in Q2FY24 versus Q1FY24), and high sensitivity of embedded value to equity volatility. Traders may also factor in the likelihood of another stake sale by the Government of India.
The traders' decision to stand by their threat comes despite Chief Minister Prithviraj Chavan's announcement last week that the government was considering an increase in the minimum-income criterion for registration for LBT from Rs 100,000.
The National Stock Exchange (NSE) of India is going to indefinitely defer the internal deadline set for extending trading hours, according to sources in the know. The exchange aimed to introduce a three-hour evening session exclusively for index derivatives by March 2024, contingent upon regulatory clearance from the Securities and Exchange Board of India (Sebi). Sources indicate that the market regulator has not provided a favourable indication, dimming optimism surrounding the proposal.
Bharti Airtel was the biggest gainer in the Sensex pack, rising 2.37 per cent, followed by Mahindra & Mahindra, HCL Tech, Tata Motors, Tech Mahindra, HDFC Bank, Wipro, Tata Consultancy Services, Axis Bank and Nestle. Asian Paints, Hindustan Unilever, Bajaj Finserv and NTPC were among the laggards.
Only the top 5 per cent profit makers account for 75 per cent of profits.
The government on Friday proposed hiking the securities transaction tax on Futures & Options (F&O) contracts, a move that will increase the trading costs in the derivatives segment as well as help in curbing excessive trades. In the Finance Bill 2023, passed by the Lok Sabha on Friday, the Securities Transaction Tax (STT) on options is proposed to be increased to 0.0625 per cent from 0.05 per cent and on futures contracts to 0.0125 from 0.01 per cent. Analysts opined that higher STT will shore up the government's revenues to some extent and also discourage excessive trading since a large number of retail traders are losing money in the segment.
A bench headed by Justice R M Lodha asked the Centre to file its response within three weeks.
Police registered an FIR against the army personnel involved in the incident.
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