Gold price on December 5 slipped Rs 157 to Rs 38,181 per 10 gram in Mumbai bullion market on strong rupee and hopes of a revival in US-China trade talks.The rate of 10 grams 22-carat gold in Mumbai was Rs 34,974 plus 3 percent GST, while 24-carat 10 gram was Rs 38,181 plus GST. The 18-carat gold quoted at Rs 28,636 plus GST in the retail market.Silver prices also dipped Rs 720 to 43,980 per kg from its closing on December 4.Close The gold/silver ratio currently stands at 86.81 to 1, which means the amount of silver required to buy one ounce of gold. The ratio has broken the key resistance of 86.75 and price sustained break above the same will extend the rally towards 89.75-91 area, according to Jigar Dharamshi, Technical Analyst at Motilal Oswal. related news Analysts see RBI pausing for long as inflation worries return CBDT floats draft notification with regard to renumeration of fund managers Canada Pension Plan Investment Board to invest up to $600 mn in India through … [Read more...] about Gold price down Rs 157 at Rs 38,181 per 10 gram; silver slips 1.61%
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Two new cities to be surveyed from next year for Ease of Doing Business rankings
The Indian government has asked World Bank to represent India's diversity and said more than two cities need to be surveyed for Ease of Doing Business (EODB) rankings."Till now, only two cities used to be covered for ease of doing business rankings. We have asked World Bank to add Kolkata and Bengaluru in the list of cities to be surveyed for the rankings," Finance Minister Nirmala Sitharaman said at a press briefing on October 24.India jumped to 63rd position in World Bank's latest Ease of Doing Business rankings, soaring 14 notches from last year, as the multilateral body endorsed a string of reforms—from the signature 'Make in India' initiative to insolvency resolutions — that the Narendra Modi government has launched over the last few years.Close India's ranking jumped to 52 in 2019 from 108 last year, a 56 position jump, in resolving insolvency. The credit for this goes to the Insolvency and Bankruptcy Code (IBC), which came into force in 2016. related news … [Read more...] about Two new cities to be surveyed from next year for Ease of Doing Business rankings
Onion prices in Asia surge 9-22% as India scouts for imports
Manisha GuptaOnion prices in major Asian markets like Nepal, Bangladesh and Sri Lanka have climbed to $2-$6 per kg over the past few weeks, up $0.5-$1 per kg, with experts attributing the sudden demand from India as one of the reasons.Across the world, onion prices are up around 12 percent on an average, over November.Close India, the world’s largest exporter of onions, banned exports in September, and this is likely to continue for a while till prices come under control. related news Centre deliberately creating scarcity of onion in Delhi: Sisodia Nexus between BJP, hoarders responsible for rocketing onion prices: AAP Despite rising prices and shortage at home, India continues to export onion to Maldives A similar trend in onion prices has also been seen in countries like China, Iran, Indonesia and South Korea, where prices have risen between 9 percent and 22 percent over the last one month.The National Horticulture Development Board (NHDB) has estimated India’s … [Read more...] about Onion prices in Asia surge 9-22% as India scouts for imports
Bharti Airtel share price falls 3% on plans to raise capital; Credit Suisse maintains outperform
Bharti Airtel share price fell early 3 percent intraday on December 5 after the company approved raising $3 billion via debt and equity.The board of the company on December 4 approved a plan to raise up to $3 billion via debt and equity route. Of the aforementioned amount, $2 billion will be raised via a qualified institutional placement (QIP).The remaining amount would be raised through the issuance of foreign currency convertible bonds (FCCBs) or other similar security denominated in foreign currencies and through redeemable non-convertible debentures along with warrants or other similar rupee-denominated security.Close Credit Suisse has maintained an outperform rating on the stock with a target of Rs 550 per share related news ICICI Bank share price hits record high; analysts say Rs 600 is imminent Lemon Tree share price jump 5% after CLSA recommends a buy SBI share price lacklustre after the firm announces divestment in UTI AMC The $3 billion fundraise is to aid any … [Read more...] about Bharti Airtel share price falls 3% on plans to raise capital; Credit Suisse maintains outperform
Reliance Industries share price climbs 2% after foreign brokerages raise target
Reliance Industries share price climbed almost 2 percent in early trade on December 5 after Goldman Sachs raised the target price of the stock to Rs 1,850.The global financial firm reiterated a buy rating on the stock, raising the target price to Rs 1,850 from Rs 1,635.Goldman Sachs also raised an earnings estimate of the company for FY21 and FY22 and said that the growth and free cash flow are accelerating.Close Foreign brokerage firm CLSA too has a buy recommendation on the stock and raised the target price to Rs 2,010 from Rs 1,710. related news Rate-sensitive stocks trade mixed after RBI keep interest rates unchanged ICICI Bank share price hits record high; analysts say Rs 600 is imminent Lemon Tree share price jump 5% after CLSA recommends a buy CLSA said Jio announced up to 35 percent hike in tariff which still remains at a discount despite a big hike."Despite this hike, Jio is at a 7-20 percent discount to its competition. Tariff hike will boost its EBITDA by … [Read more...] about Reliance Industries share price climbs 2% after foreign brokerages raise target