Govt eases status holder certification process for exports
Commerce and industry Piyush Goyal launched a new initiative to issue IT system based automatic ‘Status Holder’ certificates to exporters under the Foreign Trade Policy 2023 under which the government will recognise about 20,000 exporters as Status Holders, up from 12,518 exporters recognised earlier.
India mulls imposing 25% duty on molasses exports
The Indian government is considering imposing a 25% duty on the export of molasses due to an expected decline in sugar production. The move aims to increase the availability of molasses for domestic distilleries, helping them meet the government’s ethanol blending target. India experienced a dry August, causing damage to the sugarcane crop in key […]
Ahead of Market: 10 things that will decide D-Street action on Tuesday
The NSE Nifty 50 index closed 0.72% lower at 19,512, while the S&P BSE Sensex fell 0.73% to 65,512. All the 13 major sectoral indices logged losses. High-weightage banks and oil & gas lost over 1% each, while public sector banks shed 3.09%
RBI’s hawkish stance, rise crude prices could delay monetary easing
“ Elevated food and oil price risks amid still-resilient growth suggest policy easing will be delayed. We are pushing out the first rate cut from February to April, while retaining our forecast for 100bp of cuts in 2024” said a note by Nomura Research. “ Supply-side inflation shocks on food and oil are the key […]
DGTR reviews continuation of anti-dumping duty on imported Chinese alloy wheels
DGTR in a notification has said the applicants have submitted prima facie evidence of dumping of the product from China in spite of the existing anti-dumping duties. “The authority hereby initiates sunset review investigation to examine whether the expiry of existing anti-dumping duties against China is likely to lead to continuation or recurrence of dumping […]
Unemployment rate declines, female labour force participation rises in Q1FY24: MoSPI
The Indian economy saw strong growth in the first quarter, leading to improved employment numbers. The unemployment rate in urban areas decreased to 6.6% in the April-June quarter, compared to 6.8% in the previous quarter. Female labor force participation also increased to 23.2% in urban areas.
How to identify the right company for investing? Vivek Karwa explains
Vivek Karwa, CEO of VRIDHI Investment, advises against being greedy in the stock market as there are always opportunities available. He suggests that a layman can approach investing by checking how long a company has been in business and looking at basic numbers such as net profit. He also recommends looking at the shareholding pattern […]
5-6 month IPO lock-in will open for these 4 companies. Check dates here
Tech View: Nifty may remain in sell-on-rise mode till 19,700. What traders should do on Tuesday
The formation of a bullish hammer candle pattern of last week as per the weekly timeframe chart is still intact. The index is expected to slide near the low of the said hammer pattern around 19,350-19,450 levels in the short term before showing another round of upside bounce from the lows. Immediate resistance is placed […]
Rail, shipping stocks plunge up to 6% as Israel-Hamas war weighs on economic corridor
Major railway stocks like the Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam Limited (RVNL), Ircon International, RITES, and RailTel Corporation of India fell up to 6%. Meanwhile, shipping stocks like Shipping Corporation of India (SCI), Garden Reach Shipbuilders, Mazagon Dock Shipbuilders, and Cochin Shipyard declined by up to 5% in the intraday trade.