Pakistan's Finance Minister Miftah Ismail on Monday said the government can consider importing vegetables and other edible items from India following the destruction of standing crops due to massive floods, three years after Islamabad downgraded trade ties with New Delhi over the Kashmir issue.
The 30-share Sensex closed down 114 points at 28,622 and the 50-share Nifty ended down 37 points at 8,686.
Not just onion, retail prices of potato and other vegetables have also shot up in the national capital on Monday as recent winter rainfall has damaged some of the crops. Milk and butter prices have also gone up. Even cooking oil prices, especially of mustard oil, have increased by Rs 15/kg litre.
Plans to enhance buffer stock to 500,000 tonnes; Gujarat exempts importers from stock limit
Farmers started the tractor march around 11 am and moved towards Kundli-Manesar-Palwal Expressway amid heavy deployment of Delhi Police and Haryana Police personnel.
Don't be surprised if growth in the second half of the financial year drops below 4%, which is where it was in the year before the pandemic, warns T N Ninan.
The overall market breadth remained firm as 1,618 stocks are advancing while 1,270 are declining.
As many as 34 new drugs were added to and 26 dropped from an updated list of essential medicines on Tuesday, with the government saying this will reduce "patients' out-of-pocket expenditure". The National List of Essential Medicines (NLEM 2022) has 384 drugs, up from 376 in 2015. "Drafting this list is a lengthy process, and around 350 experts from across India have held over 140 consultation meetings to draft the NLEM 2022," Union Health Minister Mansukh Mandaviya said.
As investors try to second-guess the US Fed, corporate and election results could have a bearing on market direction
Cash-and-carry stores try tricks, from playing Bollywood music to customising orders, to retain customers.
Traders estimate around 30 per cent of rabi crop damage.
The benchmark M-30 variety of sugar has declined by over 3 per cent in November to trade now at Rs 3,694 per quintal
Some analysts believe convenience stores could be challenged by digital grocery in the future.
Movement of rupee and crude oil prices will also dictate the trend
A 6-7 million tonnes shortfall in rice production due to a fall in paddy sowing area is likely to keep rice prices at elevated levels, adding to the inflationary pressure that the slowing economy is already grappling with. Elevated food prices, including that of cereals, had led to retail inflation reversing a three-month declining trend, to touch 7 per cent in August. Similarly, the wholesale price inflation, which declined to 11-month low, also showed price pressures from cereals resulting from wheat output being impacted by severe heat waves in some parts of the country.
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
Meta Platforms Inc, the parent company of WhatsApp, will partner with Reliance JioMart for a service where WhatsApp users can buy groceries on the messaging platform from the Indian retail firm. Mark Zuckerberg, chief executive officer (CEO) of Meta Platforms, said in a Facebook post, "[I am] Excited to launch our partnership with JioMart in India. "This is our first-ever end-to-end shopping experience on WhatsApp--people can now buy groceries from JioMart right in a chat." "Business messaging is an area with real momentum and chat-based experiences like this will be the go-to way people and businesses communicate in the years to come," he said in an announcement coinciding with the annual general Meeting (AGM) of Reliance Industries the parent company of JioMart.
The Russia-Ukraine crisis, along with general bullishness in agricultural commodities, has ensured that after a fairly long time, most of the 24 commodities for which the Centre declares the minimum support price (MSP) are trading above it. The exceptions here are chana or gram and a few varieties of pulses. This might gladden the farmers, especially those who are still holding on to their stocks from the previous kharif harvest or are harvesting the latest rabi crop. But this could stoke retail and wholesale inflation.
'Whatever happens in any part of the world affects us.'
The company had launched the Yaris in May 2018 at a price range of Rs 8.75 lakh and Rs 14.07 lakh (ex-showroom), competing with the likes of Honda City, Hyundai Verna and Maruti Suzuki Ciaz. However, it didn't have a robust response in the market, clocking a cumulative wholesales of around 19,800 units.
When the lockdown was lifted last year, Rasikbhai Kotadiya, who runs a powerloom unit in the Kim-Pipodara industrial area on the outskirts of Surat, was left with only four workers out of the 48 that he used to employ to run his 128 looms. Though the economy had been unlocked, his textile unit, and that of thousands of others, struggled to resume operations. By the last week of May, nearly 700,000 of Surat's 1.2-1.5 million migrant workers, left high and dry with no pay during the lockdown, had returned home. In Laskana, another textile weaving hub in Surat, the powerlooms were all but silent, with only 2,000 of the total 55,000 looms churning out grey cloth at a snail's pace.
Amazon CEO Jeff Bezos is in India this week and is expected to meet top government functionaries, business leaders and SMBs.
With almost all opposition parties and several trade unions backing the 'Bharat Bandh' and many announcing parallel protests in support of the farmers, the Centre has issued an advisory directing all the states and Union Territories to tighten security and ensure COVID guidelines are followed.
The RBI's rate-setting panel MPC on Monday began its three-day deliberation amid expectations of another round of hike in benchmark interest rates to contain inflation that continues to remain above the central bank's upper tolerance level. RBI Governor Shaktikanta Das will announce the decision of the Monetary Policy Committee after deliberations on Wednesday. Das has already indicated that there may another hike in the repo rate, though he refrained from quantifying it.
Assembly elections in Maharashtra are scheduled later this month. The farmer protests are likely to affect the results, especially in the onion-growing belt of Nashik.
Vegetable arrivals at mandis, especially in Maharashtra, have declined by more than 50 per cent since the beginning of the month.
Farmer organisations also called for boycott of mandis or wholesale markets in Punjab, Haryana, Rajasthan, Uttar Pradesh, Madhya Pradesh and Mahrashtra, leading to fears of shortage and price rise.
Tata Motors was the top Sensex loser, down nearly 5%
Amway maintains the action was related to a case in 2011 and it has been cooperating with the investigative agency.
One lakh copies of the three agri laws were burnt at the Singhu border alone, said Paramjeet Singh of Samyukta Kisan Morcha.
The BSE Midcap and Smallcap indices underperformed the largecaps and ended over 1% lower.
Future group firms are convening meetings of their respective shareholders and creditors in November to seek approval to their proposed merger into Future Enterprises as part of the 24,713-crore deal with Reliance Retail. Several listed transferor firms including Future Retail, Future Consumer, Future Enterprises, Future Lifestyle Fashions, Future Markets Networks and Future Supply Chain Solutions - have informed their shareholders and creditors about the meetings which will take place on November 10 and 11. The meetings of the equity shareholders, secured creditors and unsecured creditors will be held through video conferencing /other audio-visual means, said Future group companies, adding that remote e-voting facility will be offered to all participants.
Congress leader Rahul Gandhi on Friday warned that the farmers' agitation will spread across the country if not resolved soon and asserted that the only solution to the issue was to throw the new agri laws in the 'waste paper basket'.
The fifth round of talks was held on December 5, while the sixth round originally scheduled for December 9 was called off after an informal meeting of Home Minister Shah with some union leaders failed to reach any breakthrough.
Farmers in Nashik district, Maharashtra - a major producer of onion - have started harvesting the premature crop to cash in on the high prices in mandis. Good-quality onion was quoted at Rs 93.50 a kg on the higher side. However, the poorest-quality onion was selling at Rs 25.50 a kg on Wednesday as against Rs 20 a kg on Tuesday. Thus, the model price of onion works out to Rs 70-75 a kg in Lasalgaon, translating into Rs 100-125 a kg in the retail markets of the country.
As wholesalers largely failed to meet GST norms, companies were in a fix. According to industry veterans like Sunil Duggal, chief executive of Dabur, the hazard led many to look beyond third-party distribution and take the leap to cover unattended markets directly.
The longest winning streak was the six years between 2002-2007 when the Nifty moved from around 1,000 to over 6,000.
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
Ten years ago, gold was selling at well below its long-term inflation-adjusted average, and the integration of three billion emerging market citizens into the global economy could only mean a giant long-term boost to demand.
