'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
From the markets' perspective, a greater predictability of the RBI's intervention will give them a space to operate in.
Traders' body CAIT on Wednesday accused e-commerce major Amazon of indulging in serious contraventions of FDI policy and Foreign Exchange Management Act. The body also blamed the online firm for not seeking the government's approval for conducting multi-brand retail activities in India.
Prime Minister Narendra Modi made a pitch for electing a strong and stable government in an uncertain world beset by geopolitical tensions as the Bharatiya Janata Party on Sunday released its manifesto, prioritising development and welfare while shunning populist measures and contentious issues like the National Register of Citizens (NRC).
Vegetable traders further pointed out with Pakistan remaining rigid on not lifting ban despite requests made by Pakistani traders, all the orders for the import of onion now stand cancelled.
It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
Led by Ola Electric, which registered an industry record of 53,186 vehicles in March, electric two-wheeler (e2W) penetration hit a record at 8.91 per cent - the highest ever for a month (based on Vahan data).
External Affairs Minister S M Krishna on Wednesday assured two Indian traders, trapped in a financial dispute with local businessmen in the commodity hub of Yiwu, that he would take up their case with his Chinese counterpart on Thursday.
The Sino-India border trade began on Tuesday. The transaction on the first day was not very significant. It consisted of exports of a few quintals of rice and biscuits valued at Rs 10,000.
The National Stock Exchange (NSE) has made a fresh attempt at settling a regulatory investigation into the misuse of Trading Access Point (TAP) software at the bourse. The Securities and Exchange Board of India (Sebi) rejected a similar application in 2022. "NSE and its employees have filed a consolidated settlement application dated May 4, 2023, with Sebi.
A Ganesh Nadar speaks to onion farmers in Nashik, India's largest wholesale onion market, about the high prices.
The rupee fell on Monday on fears of foreign outflows after stronger-than-expected US jobs growth data cemented expectations of an early end to US stimulus measures.
Two traders - Jindal Steel and Power Ltd and GMR Energy Ltd - have already surrendered their licences.
India was the world's biggest importer of Russian oil in February, exceeding China by 20 million barrels.
Two Indian traders, who were held-up in China for several months over allegations of non-payment of dues to Chinese businessmen, have been sent back to India after intense diplomatic efforts.
A decision to tap the 30 countries for exporting wheat was taken at a meeting of the commerce ministry on Thursday.
This has steered a rally in global equities and dollar Index also ticked higher, trading near its four year high.
The rupee depreciated by 9 paise and settled at its all-time low level of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
To restrict onion exports and help cut prices in the domestic market, the government had gradually raised the MEP to $1,150 a tonne from $650 a tonne a few months earlier.
The National Company Law Appellate Tribunal (NCLAT) on Monday rejected Amazon's plea challenging the decision of fair trade regulator CCI to suspend the approval for the e-commerce major's deal with Future Coupons. A two-member bench comprising Justice M Venugopal and Ashok Kumar Mishra, upheld the findings of the Competition Commission of India (CCI) and directed it to pay the penalty of Rs 200 crore imposed on Amazon by the fair trade regulator within 45 days from Monday. "This appellate tribunal is in complete agreement" with the CCI, the two-member bench said.
Farmer Ishwar Gaykar (36), from Pachghar village in Junnar tehsil of Pune district, had faced a difficult decision of dumping a large quantity of harvested tomatoes in May this year due to low prices.
According to data released by the Sikkim commerce and industries department in Gangtok, utensils including copper bowls fetched a revenue of Rs 900,000 for Indian traders during four months of trade at the Renquinggang mart. Other products like black tea, textiles, woollen shawls, canned food, vegetable oils and cigarettes were in demand from importers.
After a gap of more than 13 years, the National Commodity and Derivatives Exchange (NCDEX) is all set to launch a futures contract in groundnut (in shell) to fill a void in oilseeds complex futures because of a ban in several high-volume commodities.
Armed with necessary macro and micro growth drivers, India is on its way to becoming the fastest growing major economy in the world, a finance ministry report said. Rapid vaccination and teeming festivities will push India's ongoing recovery resulting in narrowing of demand-supply mismatches and greater employment opportunities, as per the monthly Economic Review prepared by the ministry.
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
'I have nostalgia for Ladakhi culture, which is common to both Muslims and Buddhists.' 'It is kind of a Buddhist way of life. You are compassionate and nice to each other.' 'You are good human beings.'
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
'Farmers have been sent notices in which the government is threatening that if you will join the movement, then we will impound your ancestral properties.' 'We will seal your bank accounts.' 'We will revoke the passports of your kids.'
At least 30,000 growers are hedging for their produce through farmer producer organisations
Traders in India, the world's largest gold consumer, were stocking up on the precious metal on Monday amid fears that a US-led war with Iraq was imminent and could push bullion prices higher, dealers said.\n\n\n\n
For women, it is important to build an emergency fund and a financial independence fund independent of the couple's joint goals and plans.
Ashish Goyal breaks new ground by becoming the first blind student in foremost finance school and first blind trader in the world.
CAIT had last month also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's decision to approve the deal.
Among the Sensex firms, Asian Paints, Tata Steel, HCL Technologies, Nestle, Maruti, JSW Steel, NTPC and Larsen & Toubro were the major laggards. Sun Pharma, Bajaj Finserv, Reliance Industries, State Bank of India and Bharti Airtel were the gainers.
Among the Sensex firms, State Bank of India, Infosys, Titan, Tech Mahindra, IndusInd Bank, NTPC, ICICI Bank, Power Grid, Reliance Industries and Kotak Mahindra Bank were the major laggards. On the other hand, Tata Motors, Nestle, Hindustan Unilever, Tata Steel, Bajaj Finance and UltraTech Cement were among the gainers.
Exactly a fortnight ahead of the Reserve Bank of India's (RBI's) next monetary policy review, a key market indicator of interest rates - the overnight indexed swap (OIS) - suggests that the central bank may tighten policy by 35 basis points and then refrain from further rate hikes. RBI Deputy Governor Michael Patra recently described the OIS as the primary instrument for hedging interest rate risk in India. The six-member Monetary Policy Committee (MPC) of the RBI will meet on December 5-7.
The Gujarati's intolerance for diversity can be seen in India's hard nationalism which is showing itself in Kashmir and the North East, observes Aakar Patel.
Sun Pharma emerged as the biggest gainer from the Sensex pack, climbing 2.09 per cent, followed by ITC, Titan, Bajaj Finance, Nestle, Infosys, L&T, JSW Steel, Reliance Industries and Kotak Mahindra Bank. UltraTech Cement, Maruti, HDFC Bank, Wipro, State Bank of India and NTPC were among the laggards.
The government on Monday said there is sufficient wheat stock in the country and that it will take action against hoarders, if needed, to boost domestic supply. The Centre may consider steps like asking for disclosure of wheat stocks by traders and imposing stock limits to augment domestic availability. Addressing the 82nd AGM of Roller Flour Millers Federation of India, food secretary Sudhanshu Pandey said there is no problem of wheat in the country and the Centre has 24 million tonne of wheat in godowns of state-owned FCI. The secretary pointed out that wheat prices have gone up due to "speculative trading".
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