New Delhi: The Centre on Thursday said it has contracted to import an additional 12,660 tonnes of onions and the shipment will reach India from December 27 onwards, a move aimed at improving the domestic supply and check price rise. With this, the total quantity of imports that have been contracted so far reached approximately 30,000 tonnes, an official statement said. For the second week in a row, onion prices are ruling above the Rs 100 per kg mark, as government efforts to cool the rates seem to be taking more time than expected. In a statement, the Consumer Affairs Ministry said it has directed state-owned trading agency MMTC to issue fresh tenders for additional 15,000 tonnes of onions (three new tenders of 5,000 tonne each) on Thursday. Last month, Union Food and Consumer Affairs Minister Ram Vilas Paswan attributed the rise in prices to a 26 per cent decline in domestic production during kharif and late-kharif seasons because of late monsoon followed by excess rains in major … [Read more...] about Govt Contracts Import of Additional 12,660 Tonnes of Onions to Check Price Rise
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Onion prices eased on Thursday, as farmers started supplying the wholesale markets in Pune with what they claim is a newly harvested crop. Yesterday, onions were sold at Rs 40-70 per kg as against Rs 100-130 per kg, for the last 10 days.Vilas Bhujbal, former director, Agricultural Produce Market Committee (APMC), Pune said, “With the huge stock of onions coming into the market, there is a dip in the prices. Since the rates are good, many farmers are bringing in new onion so as to take the benefit of the new rates. If the flow of the onion coming to the market remains the same, the prices will further dip in the coming weeks.”“Till last week, onion prices were Rs 100 per kg. On Thursday, 90 trucks of onion arrived at the APMC, of which 70 trucks were of the new onions,” added Bhujbal.Jaygutta Holkar, director, Lasalgaon APMC said that the rates may come down further this week. “With a huge stock of local onions coming into … [Read more...] about New crop supplies bring onion prices down to Rs 40-70 per kg in Pune
Shares rose by 1.5 percent Thursday to extend their gains to a fifth session, helped by massive foreign buying sparked by eased uncertainties over the Fed’s rate policy. The won rose sharply against the dollar.The benchmark Kospi was up 31.73 points, or 1.51 percent, to close at 2,137.35.The rise followed overnight gains on Wall Street. The U.S. Federal Reserve unanimously voted to keep its policy rate in the 1.5 percent to 1.75 percent range, and suggested there will be no changes in 2020.Seo Sang-young, an analyst at Kiwoom Securities, said a strong won led to the foreign buying of Korean stocks.Foreigners bought a net 503.9 billion won ($424.6 million) worth of stocks, and institutions purchased local stocks worth 324.5 billion won, pushing up the main index.Lee Kyung-min, an analyst at Daeshin Securities, said foreign buying gave a boost to the main bourse.“The Federal Reserve’s move gave a sense of relief to investors, which in turn had a positive impact on the … [Read more...] about Stocks jump 1.5% after Fed decides to sit tight
Saudi Aramco shares zoomed higher on Thursday, turning the massive state oil producer into the world's first $2 trillion company and achieving the valuation long sought by Crown Prince Mohammed bin Salman. The stock gained 10% for a second consecutive day, reaching 38.70 riyals ($10.32) per share before giving up some of its gains. Saudi Aramco has gained roughly $300 billion in value since its shares debuted on the Riyadh stock exchange on Monday in the biggest initial public offering on record. It's by far the most valuable company in the world, dwarfing runner up Apple, which is worth around $1.2 trillion. The vast majority of buyers for the stock are in Saudi Arabia. Samba Capital, which managed the IPO, said Tuesday that 97% of retail investors who received shares were from the country. And more than 75% of shares sold to institutional investors went to Saudi companies, funds and government institutions. The $2 trillion valuation was a priority for the crown prince ever since he … [Read more...] about Saudi Aramco Gives the World Its First $2 Trillion Company. But For How Long?
Everything will eventually fall. Why that is not happening now is no reason to justify or rationalise the extremely expensive nature of the markets. I remain as worried as I was the last time I spoke to you, says Rajat Sharma, CEO, Sana Securities. Excerpts from an interview with ETNOW. On markets & green shootsI remain worried. I am not saying that there are stocks in this market which you should not go out and buy. There are more stocks that you should buy than avoid. In fact, the overvalued stocks are very few in number. Majority of the stocks are now valued below their fair price. Buying happens for reasons like value, growth, earnings potential. People look at all sorts of matrix but if the top 10-15 stocks start correcting, then the selling would be widespread. Selling does not discriminate between largecaps, smallcaps and midcaps. We have seen that over and over again. So when I say I am worried about investing in these markets, I mean I am worried about investing even in … [Read more...] about I would be happier earning a fixed return of 9-10% now: Rajat Sharma, Sana Securities