Trade Financial News

NEW DELHI : Unwanted promotional calls from unregistered phone numbers may attract stringent action in the near future, with the Central Consumer Protection Authority (CCPA) preparing to crack down on the practice. The CCPA is meeting industry stakeholders this week to finalize a mechanism to end unsolicited commercial calls and messages, two people aware of the matter said.

NEW DELHI : The growth in private investments in fixed assets cooled in 2022-23 after a rebound in the year before when it recovered from a pandemic-induced contraction, official data showed. Unless exports revive and wage growth fuels domestic consumption, private investments may not improve in the coming year either. Private investments in fixed assets rose 6.4% in real terms in 2022-23 to ₹19.7 trillion at 2011-12 prices, after a 16.4% growth in 2021-22.

Stock split 2024: Shares of Tiger Logistics (India) Ltd will be in focus when the stock market opens on Monday (March 04). The Board of Directors of the company has declared a stock split for the eligible shareholders. The company has declared a stock split in the ratio of 1: 10 that means from ₹10 per equity share to ₹1 per equity share.

MUMBAI : Top officials of the government and the central bank will meet on Monday to figure out a way forward on the vexed issue of bank exposure to alternative investment funds (AIFs), two people aware of the matter said. Officials from the department of economic affairs, department for promotion of industry and internal trade (DPIIT), MSME ministry, the Reserve Bank of India (RBI) and banks will attend the meeting, the people said on the condition of anonymity. The government stepped in because apart from AIFs from private firms, several AIFs have been floated by central government ministries and state governments to pool funds from state-owned banks.

Stock Exchange has catapulted it to becoming the best- performing listed bourse in the world in the past year. Continued surge in trading volumes and signs of its equity derivatives segment picking up have driven shares of Asia's oldest stock exchange by over 400% from the same period a year ago. BSE shares, which are listed on the National Stock Exchange, closed at ₹2352.45 on Saturday. The stock hit an all-time high of ₹2,598.95 on February 5. BSE shares' 430% gains in the past year far exceeds the 35% upmove in US-based Intercontinental Exchange (ICE), the second-best performer in the pack

Analysts expect the current market momentum to continue, while the market will closely track fresh set of economic data to be released later this week.

SMS Pharma The European Directorate for the Quality of Medicines & HealthCare conducted a GMP inspection of the company’s API manufacturing facility in Andhra Pradesh from February 28 to March 1. A report on the same is awaited.

Aditya Birla Group plans to consolidate its non-banking finance companies (NBFCs) to create better synergies and ensure optimal utilisation of resources and greater economies of scale, following approval by the National Company Law Tribunal (NCLT), said people aware of the matter. The Mumbai bench of the NCLT recently approved the merger of a half-dozen Birla group companies, including Umang Commercial Company Pvt Ltd, Aditya Birla Online Fashion Pvt Ltd and Birla Family Investments Pvt Ltd, into Birla Group Holdings Pvt Ltd (BGHPL), a key holding company of the Aditya Birla Group. The group also expects to achieve efficient utilisation of capital for enhanced development and growth of the consolidated business under a single entity, including its non-banking financial business, which will continue to constitute its core business, said the people.

diamond houses in India were alerted over the weekend that missing paper trails and sloppy records would land them in trouble under the new sanctions regime that began on March 1 to block Russian gems from the affluent western markets. The discreet, quaint world of diamonds, where close-knit jewellers and diamantaires cut deals in old-fashioned ways, is scanning a new, unfamiliar compliance mechanism that could change the way they have been doing business for ages. If local firms, which cut and polish eight out of 10 diamonds mined in the world, fail to generate and safekeep documentary evidence that the rough stones and jewellery did not originate in Russia, they could come under serious scrutiny. Cautioning them about the pitfalls, the apex trade body has circulated the various guidelines and formats of self-declarations that diamond firms shipping to the US and EU must share with their buyers to avoid trouble.

ALSO READ: Fed’s Jerome Powell to double down on ‘no rush to cut’ message Data on factory orders for January and a report on ISM services for February will be released on March 5. Fed chair Jerome Powell’s congressional testimony is scheduled for two days March 6 and 7. March 7 will also see the release of data on US trade balance for January.

cycling in Navi Mumbai. The tragedy underscores a prime reason why those willing to shift to cycling in our cities do not. Saini chose to cycle even though he could have used a car because opting to pedal is a healthy, environment-friendly choice for a growing number of affluent Indians.

Oracle: The stock might be priced slightly higher ahead of Q3/24. Fair value analysis indicates a 3.4% downside, against a more optimistic analyst view of a 9.2% increase.

OPEC and allies led by Russia (OPEC+) have agreed to extend voluntary first-quarter oil output cuts into the second, sources said on Sunday. OPEC+ in November agreed to voluntary cuts totalling about 2.2 million barrels per day (bpd) for the first quarter, led by Saudi Arabia rolling over its own voluntary cut. OPEC+ has implemented a series of output cuts since late 2022 to support the market amid rising output from the United States and other non-member producers and worries over demand as major economies grapple with high interest rates.

World of Warcraft players are in for a treat as the Trading Post unveils its offerings for March 2024. From mounts to pets and transmogrifications, here's a detailed look at what players can expect to find.

India's move to block a China-led investment facilitation pact in the recently concluded WTO ministerial meeting in Abu Dhabi will help promote multilateral agreements in the 166-member global trade watchdog, according to experts. The ministerial conference (MC), the highest decision-making body of the World Trade Organisation (WTO), concluded late night on March 1. The talks, which were to end on February 29, got extended by almost two days due to a logjam among members on key issues like agri, fisheries subsidies and the e-commerce moratorium. International trade experts stated that India's principled stand in opposing the addition of the IFDA (Investment Facilitation for Development Agreement) into the WTO is based on its longstanding support for multilateralism. A group of over 120 nations, led by China, tried to push the IFDA to integrate into the WTO as a plurilateral agreement at the 13th MC meet in Abu Dhabi, UAE.

13th Ministerial Conference of the WTO concluded with the acceptance of the Abu Dhabi Declaration on Saturday, but missed an agreement in either fisheries or agriculture, as India decided to defend its farmer-friendly policies. “Our objective was that our farmers and our fishermen should not face any kind of harm, no crisis should come, and in that, we successfully did not allow any such decision to be taken that would harm any farmer or fishermen," Union Minister Piyush Goyal said after the conference.

There is a correction seen in mid- and smallcap stocks and it is expected to continue, with regulators urging disclosure of associated risks to AMCs.

Investing.com — Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for MediaAlpha and Constellation Energy and a downgrade for Roku.

China’s woes. Just over a year ago, Mr Xi abandoned his strict “zero-covid" measures, which had been in force for nearly three years and had led to ever more frequent lockdowns. But the country did not experience what Mr Xi described in his speech as a “smooth transition".

GDP growth print for 3Q contrasts the grim reality of household consumption and income situation. The latest national expenditure survey (2022-23), released after a lag of 11 years shows real consumption grew modestly at 3% over the past 11 years and the PLFS data indicates flat real incomes over the past four years. Also, most consumer companies have shown a lackluster demand situation. What is not surprising is that the persisting discordance has accentuated in the 3Q print and reflects in a) the large contribution of the discrepancy component, b) a sharp rise in net indirect taxes translating into enlarged expenditure GDP, and c) a disproportionate decline in imports relative to the decline in consumption.

The S&P BSE Sensex rallied more than 1,200 points to hit a fresh record high of 73,819 while the Nifty50 closed with gains of more than 355 points to close at 22,338.