Over 1,150 bidders participated in the first week of e-auction of wheat and a quantity of 9.2 lakh metric tonnes was sold across the country by Food Corporation of India (FCI)
Posts in category Business Standard
Wheat prices fall 10% in 7 days on selling of FCI wheat in open mkt: Govt (03-02-2023)
The government on Friday said wheat prices have fallen more than 10 per cent in the past one week following its decision to sell the grain in open market to check rising prices.
State-run Food Corporation of India has so far sold 9.2 lakh tonnes of wheat to bulk users at an average rate of Rs 2,474 per quintal on the first two-days of e-auction held this week.
Recently, the Centre decided to offload 30 lakh tonnes of wheat from the buffer stock in the open market under the open market sale scheme (OMSS).
Out of which 25 lakh tonnes will be sold to bulk consumers, flour millers, 3 lakh tonnes to institutions like Nafed and remaining 2 lakh tonnes to state governments.
“The e-auction has already left an impact of a fall in market prices of wheat by more than 10 per cent in the past one week,” the Food Ministry said in a statement.
The “prices are set to fall further” after wheat sold in the e-auction is lifted and wheat flour (atta) is made available in the market, it said.
As per
US emerges as India’s top destination for goods exports in April-Dec 2022 (03-02-2023)
The US has emerged as India’s top destination for merchandise exports during April-December this fiscal at USD 59.7 billion, Parliament was informed on Friday.
In a written reply to the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said the government has taken a series of measures to promote the country’s exports.
The steps include an extension of existing foreign trade policy till March 31; an extension of interest equalisation (subsidy) scheme on pre and post-shipment rupee export credit till March 31 next year; and a roll-out of Remission of Duties and Taxes on Exported Products (RoDTEP) scheme.
According to the data provided by the minister in his reply, the US was followed by UAE (USD 23.31 billion); Netherlands (USD 14.1 billion); China (USD 11 billion); Singapore and Bangladesh (about USD 9 billion each).
In reply to a question on startups, Minister of State for Commerce and Industry Som Parkash said that Startup India Seed Fund Scheme (SISFS) is implemented from
SBI Q3 result: Net profit soars 69% YoY to Rs 14,205 crore, beats estimates (03-02-2023)
SBI Q3 result: The profit number beat Street estimate. Consensus estimates by Bloomberg had projected net profit at Rs 13,196 crore
SBI Q3 result: Net profit soars 69% YoY to Rs 14,205 crore, beats estimates (03-02-2023)
SBI Q3 result: The profit number beat Street estimate. Consensus estimates by Bloomberg had projected net profit at Rs 13,196 crore
Divi’s Lab sinks 13%, hits 29-mth low as Q3 profit falls more than expected (03-02-2023)
In Q3FY23, Divi’s Lab reported a 66 per cent year-on-year decline in its consolidated net profit at Rs 306.80 crore, on higher than expected in fall in revenue
Rout wipes out more than half the value of Adani firms after Hindenburg rpt (03-02-2023)
More than $118 billion was erased from the market capitalization of his 10 stocks since US-based Hindenburg claimed last week that offshore shell entities were used to inflate revenues
Bank of Baroda reports highest-ever quarterly profit of Rs 3,853 cr in Q3 (03-02-2023)
BoB said its bottomline got a boost from healthy growth in net interest income (NII), which surged 26.5 per cent YoY to Rs 10,818 crore in Q3FY23
Titan rallies 5% on hopes of healthy Q4 business outlook (03-02-2023)
Given strong execution, analysts at Emkay Global Financial Services, too, remain confident of the high-teens earnings trajectory for Titan in the medium term
TCS hits over 7-mth high; rises 4% in three days despite market volatility (03-02-2023)
Analysts at ICICI Securities expect TCS’ margins to improve from FY23 onwards due to utilization improvement and moderation of sub-contractor costs