The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
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.
The gangster-politician was booked in 65 criminal cases ranging from murder to extortion and was elected an MLA five times on the tickets of different political parties.
Tracking losses in the broader market that has seen the Nifty Smallcap 250 index and the Nifty Midcap 100 indices slip 9 per cent 6.1 per cent in the last three sessions, the frontline Nifty 50 index has remained resilient and registered a fall of 2.2 per cent during this period. Going ahead, can the nervousness in the mid- and small-cap universe spread to the large-cap peers? Most analysts do not think so. They expect a minor dip and a sharp recovery as investors flock to the large-caps in search of safety and value buying as the mid-and small-caps falter.
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.
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.
Quarterly earnings, global trends and trading activity of foreign investors will drive stock markets in this holiday-shortened week, analysts said. It will be a trading holiday on January 22, with the Maharashtra government announcing a holiday in connection with the consecration of the Ram Temple in Ayodhya. Equity markets would also remain closed on Friday for Republic Day.
The consumer affairs ministry has assured the pepper and jeera traders that it would look into their demands.
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
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.
Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
Among the Sensex firms, Bajaj Finance fell by nearly 3 per cent, the most among the 30 frontline companies. Bajaj Finserv, Axis Bank, HDFC Bank, Reliance Industries, NTPC, ICICI Bank and IndusInd Bank were the other major laggards. In contrast, Tata Motors, Sun Pharma, Maruti and Mahindra & Mahindra were the gainers.
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.
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.
Registering a 'zero FIR' based on a complaint by a trader, the Manipur police filed the case in Imphal sub-division.
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).
Investors are reluctant to take long-term positions this year after the spectacular gains in 2023. The delivery-based trades on the National Stock Exchange (NSE) have declined to below 36 per cent this year from an average of 38.1 per cent in 2023. Investors tend to seek delivery for stocks where they see a long-term investment opportunity or tactical positional trade.
Mahesh Savani, the diamond trader has been paying for the weddings of fatherless women in the city of Surat for several years.
The civic body plans to build a national memorial dedicated to the social reformer couple at the site, officials said. However, local people and traders had refused to vacate the place and moved court.
Among the Sensex firms, Infosys, NTPC, Power Grid, Titan, ITC, Tech Mahindra, Hindustan Unilever, Axis Bank, Tata Consultancy Services, Bajaj Finserv, Reliance Industries and UltraTech Cement were the biggest gainers. In contrast, IndusInd Bank, Kotak Mahindra Bank, Mahindra & Mahindra, JSW Steel, HDFC Bank and Maruti were the major laggards.
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.
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.
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.
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.
Bharatiya Janata Party's prime ministerial candidate, Narendra Modi, last month urged small traders to compete with foreign retail chains through e-commerce.
'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.'
It has mostly been a one-way street for smallcap stocks that have taken it on their chin thus far in February. The Nifty Smallcap 250 index has shed 3.2 per cent in the current month as compared to the 1.8 per cent decline in the Nifty Midcap 100 and the 0.5 per cent drop in the Nifty 50 index, data showed. Technically, the index has slipped below its 20-day moving average (DMA) placed at 14,800 levels on Monday, and is currently testing the 50-DMA, and is placed at 14,278 levels.
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.
Major laggards among Sensex constituents included Bharti Airtel, Hindustan Unilever, Tata Steel and ITC. Power Grid, UltraTech Cement, NTPC and Titan emerged as winners.
A bench headed by Justice R M Lodha asked the Centre to file its response within three weeks.
An interview with Jaykrishna D Pathak, president of the Bombay Yarn Merchants Association & Exchange.
Market sentiment around the stock has continued to be positive on the back of improving outlook for the US economy and anticipated weakness in the rupee.
Coal India Limited's (CIL) October-December quarter of financial year 2023-24 (Q3FY24) results have beaten the Street's estimates. Revenue rose 3 per cent year-on-year (Y-o-Y) to Rs 36,200 crore, led by higher volumes and better realisation from Fuel-Supply Agreement (FSA) coal. The blended average selling price (ASP) was down 6 per cent Y-o-Y to Rs 1,727 per tonne, and the FSA ASP was up 3 per cent Y-o-Y to Rs 1,532 per tonne.
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