Ashish Goyal breaks new ground by becoming the first blind student in foremost finance school and first blind trader in the world.
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.
Benchmark Brent oil futures prices more than halved between June 2014 and January 2015.
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.
The petition has prayed to the court to order the Authority not to remove unauthorised constructions in the city as large scale sealing and demolition shall cause hardships to people.
Wipro was the biggest gainer in the Sensex pack, rising 4.34 per cent, followed by HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India. Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were among the laggards.
To cut transaction costs for traders, the government has launched an online facility for issuing Importer-Exporter Code Number.
The government on Thursday said the two Indian traders, who were mistreated in the Yiwu city of China, are now safe in Shanghai but their return to the country will have to wait till the litigation against them is completed.
Banerjee said that traders would be hard hit by the Centre's decision on allowing FDI entry in retail.
The party also promised reservation to minorities on basis of their population after the caste census.
Heightened volatility and lacklustre returns continue to make a dent in retail participation in the equities cash market segment. The percentage of retail participation in the average daily turnover in the National Stock Exchange's (NSE's) cash segment has come down to 40.8 per cent in February 2023, from 52 per cent a year ago. At the peak, retail investors accounted for nearly two-thirds of cash market volumes in July 2020.
Only the top 5 per cent profit makers account for 75 per cent of profits.
A Chinese court has extended by two months the detention of 21 Indians, who were captured from the southern city of Shenzhen in January this year on charges of smuggling diamonds worth $7.3 million.
No form or requisition slip is required for exchange of Rs 2,000 notes up to a limit of Rs 20,000 at a time as part of exercise to withdraw high-value currency notes from circulation. RBI on Friday in a surprise move announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks. Unlike the November 2016 shock of demonetisation, when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender.
While Justice Kant and Bhuyan delivered the majority verdict, Justice Datta dismissed Ansari's appeal against the Allahabad high court order.
India's decision to ban the export of non-basmati white rice has pushed up global prices, prompting multilateral lending agencies, such as the International Monetary Fund (IMF), to call for a reconsideration of the move. Though nothing has been spelled out yet officially, sources said, the government might consider requests for government-to-government sale of non-basmati white rice, especially to West African nations where India is a major supplier. Also, traders and exporters of specialty regional rice varieties like sona masuri or gobindo bhog feel that they have been short-changed.
Over seven months of violence severely hit businesses, schools, colleges and other institutions, besides disrupting transportation and communication networks. It also affected the agrarian sector, considered the mainstay of the state economy.
The men with guns tend to know little finance, and establishing such a conspiracy then involves leakage of information, which is also dangerous, Ajay Shah points out.
Local station house officer Ashok Chakravarty said the decision to not offer namaz in public place was taken by the community itself after a meeting was held on Wednesday to maintain peace.
Mishra was accused of sharing Pal's location from a Prayagraj court before the latter along with two policemen was shot dead on February 24.
Retail traders oppose ban on plastic bags
The Centre has asked traders and resellers of medical devices to register in an attempt to expand the ambit of regulating the medical devices industry in the country. The move can have far-reaching consequences for both consumers and traders alike as products like face masks or prophylactics - now sold through grocers and other channels - may face issues of availability. In a notification dated September 30, the union ministry of health and family welfare said anyone wanting to sell, stock, exhibit or offer for sale or distribute a medical device, including in-vitro diagnostic medical device, will need a certificate of registration.
Unprecedented rains and floods in the northern region in the past few days have not only caused extensive damage to lives and property but have also impacted business and commercial establishments. Vegetable prices have gone through the roof in the national capital and many other parts of the country since rains started pouring earlier this month. Traders say vegetable prices would come down only after roads open and skies clear, even as water in the fields will take time to recede.
The communication was clear, transparent and worded in a manner that did not induce any fear in the minds of the people, point out A K Bhattacharya.
Kejriwal (55) has been issued the summons under the Prevention of Money Laundering Act and according to the sources, the agency will record his statement once he deposes before the investigating officer of the case in Delhi.
The government's decision to impose a 20 per cent export duty on parboiled rice and a $1,200 per tonne minimum export price (MEP) on basmati rice has pulled down overseas shipments of the former by almost 83 per cent and around 30 per cent of basmati exports in a month. Data sourced from various trade agencies and shippers showed that between August 25 and September 20, export of basmati rice has shrunk from 342,605 tonnes in 2022 to around 241,083 tonnes in 2023. Similarly, export of parboiled rice, after the imposition of 20 per cent duty during the same period, has dropped from 1.16 million tonnes in 2022 to just around 204,190 tonnes in 2023.
With export orders going down, the textile industry in Surat has been feeling the heat of the global financial crunch.
The total number of unique investors directly investing in the stock market has surged to 80 million for the first time, with the latest 10 million additions taking place in just eight months, according to data shared by the National Stock Exchange (NSE), the country's largest bourse. "The 80 million unique PAN (permanent account number) investors correspond approximately to around 50 million unique households in India amounting to around 17 per cent households directly investing in the Indian stock market via NSE's extensive nationwide network of trading members," said the exchange. In 2021, the number of domestic households were pegged at 300 million.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
As raw sugar futures jumped 3 per cent on Monday to 21.55 cents a British pound, traders expect further increases in sugar prices in the coming days, until a clear picture emerges about the magnitude of the shortfall in the Indian sugar crop and production. When India, which is the largest sugar consumer, enters the market, there is bound to be considerable volatility in prices, analysts said, suggesting that the situation is akin to what India had experienced in early 90s.
The National Stock Exchange (NSE) will shift the expiry of Bank Nifty derivatives contracts from Thursday to Friday, after smaller rival BSE did so earlier. The change, effective July 7, will apply to both weekly and monthly futures and options (F&O) contracts of the widely traded banking sector index. The first Friday expiry will be on July 14, 2023. NSE dominates the derivatives segment.
All India Motor Transport Congress had given a call to boycott supplies to Goa from Thursday onwards.
Three Hindi-speaking traders were shot dead by suspected KLNLF militants in Central Assam's Nagaon district early Monday morning, police said.
The rupee gained 11 paise to 82.68 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels. Forex traders said sustained foreign fund outflows weighed on the local unit and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 82.69 against the dollar and marginally rose to 82.68, registering a rise of 11 paise over its previous close amid a positive trend in domestic equities.
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'...similar to the 2008 global financial crisis, the 2012 taper tantrum, or the 2018 midcap crash.' 'This could lead to a substantial decline in activity and revenues for the broking industry.' 'When this will happen is uncertain, but as brokers, we must be prepared for such a downturn.'
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