Category: Business

  • Top 7 Organic & Natural Gifts From Soulflower for a Meaningful Ganesh Chaturthi

    Ganesh Chaturthi is a time of joy, celebration, and devotion. Ganpati idols are brought home, and pandals are decorated with all sorts of themes. People visit each other, holy and divine prayers are offered to Lord Ganesha, and good wishes and blessings are shared by everyone in the family. Let’s not forget about you grabbing every opportunity to savor soft and melt-in-mouth modaks.

    In this festive atmosphere, give your loved ones a gift that treats all five senses (smell, touch, sight, taste and hearing) by gifting them a thoughtful and personal gift.

    Spoiler alert: It’s not your average sweets, snacks, chocolates, or dry fruits, which is an old-time thing now; it’s 2024 and people are switching to hair growth products (hello!).
    Let’s explore right now!!

    1. Soulflower Lavender Self-care Gift Hamper:

    Your loved ones deserve a pleasant relaxation that calms the mind and body with self-care essentials made with ingredients grown on Soulflower’s own farms in Rajasthan. The gift set has to be your sure shot way to make them feel truly special and cared for. The gift hamper includes: –

    • Bath salt: Add 3 spoons of the bath salt to warm water and mix well. Settle in and soak your body or feet into the warm water.
    • Lavender Soap: The soap is made with pure lavender essential oil and, castor and coconut oil for gentle moisturizing. Rub between hands to create a rich lather and apply generously on face and body. Use daily for best results.
    • Aroma oil: After a relaxing bath, spray lavender aroma oil on your curtains or cushions for peaceful and uninterrupted sleep.
    • T-candles (2): Soft glow with long-lasting aroma encourages healthy-breathing.
    • Massage oil: Before your bath to help your skin release stress. Massage gently and thoroughly.
    • Loofah: It’s made with 100% natural plant fiber that doesn’t catch fungus and gently exfoliates without leaving skin irritated and inflamed.

    Soulflower Rosemary Gift Hamper for Hair Growth

    2. Soulflower’s Rosemary Gift Hamper for Hair Growth:

    What’s more special and thoughtful than a gift of healthy, growing hair? Yes, that’s exactly what the Rosemary gift hamper does. It’s specially curated to give your loved one’s great hair. Here’s what you’ll get in this gift hamper: –

    • Rosemary Essential Oil: Contains 100% pure, natural, undiluted Rosemary with clinically proven hair growth efficacy.
    • Rosemary Lavender Healthy Hair Oil: Scientifically formulated with active ingredients like Rosemary, Lavender, Amla, Castor and more to control hair fall, makes hair 2.6x stronger hair and nourishes scalp.
    • Rosemary Redensyl Hair Growth Serum: 4-5 pumps a day on scalp for 10.200+ new hair in 90 days. The serum is enriched with Anagain, Redensyl and Melanogray to help control hair fall and prevent premature greying.
    • Rosemary Tea Tree Shampoo: Makes hair 13.3x stronger and tackles growth of dandruff-causing fungus; cleanses scalp without leaving it dried out.
    • Rosemary Argan Conditioner: Packed with Argan Oil, Rosemary, Lavender and Avocado to promote volume and reduce dryness and dullness.
    • Rosemary Water with Mint: Whenever you don’t feel like oiling your hair, just a few spritzes on hair will make your hair 10.6x stronger, frizz-free, shiny and smooth. Daily usage recommended.

    3. Soulflower Glow Like No Other Gift Hamper:

    Get healthy and glowing skin by Ganesh Chaturthi with our luxurious skin care gift set. Featuring a blend of vitamins, antioxidants and botanical extracts, this collection helps brighten, hydrate and rejuvenate your skin. The hamper contains: –

    • Orange Carrot Soap: Vitamin C-enriched soap to nourish and brighten skin; abundant snowy lather; long-lasting fruity and sweet aroma for a refreshing start to your day.
    • Kumkumadi Face-wash: Gives you fresh, scar-free and radiant skin without leaving skin dried out.
    • Broad Spectrum Sunscreen SPF: 50+ SPF protection against harmful UVA and UVB rays. So go out in the sun without worrying about it!
    • 20% Vitamin C Face Brightening Serum: Get a festive glow with the unique, lightweight serum for soft and plump skin.

    4. Soulflower Vitamin C Brightening & Protecting Gift Hamper:

    Say hello to brighter and youthful skin! The gift box is specially curated to make them go “wow”. It’s perfect for everyone, men or women, after all, who doesn’t love to pamper their skin. It is packed with the goodness of Vitamin C. The gift set includes: –

    • Ceramide Face Gel Moisturizer: Fast-absorbing moisturizer protects your skin barrier and provides 24-hour hydration to skin.
    • Hyaluronic Invisible Sunscreen: SPF 50+ PA++++ protection to protect skin from UV rays for up to 6 hours.
    • Ubtan Face Mask: With multani mitti, papaya and sandalwood to brighten skin tone, draw out impurities and reduce painful acne bumps.
    • Vitamin C Serum: To boost collagen, fade acne scars and reduce fine lines and wrinkles.

    5. Soulflower Try Me Gift Set:

    Not sure which products to choose? Souflower’s “Try Me” gift sets offer a variety of options to explore and discover your favorites. From hair care to skincare, these sets are perfect for trying new products and finding your ideal routine.

    Soulflower_Festive_Aromatherapy_Gift_Hamper__3_

    6. Soulflower Aromatherapy Gift Box:

    Infuse the feelings of joy, purity and good luck with the range of aroma oils, including exquisite flavors like Rajnigandha, Orange, Jasmine and White Oudh, along with our very own signature scents like Aqua Forest, Soulgreen and Love is in the Air, among others. This will certainly light up the recipient’s face with absolute joy.
    You can use a ceramic diffuser, an electric diffuser or mix 4-5 drops of the aroma oil with 100 ml of water and spray it on curtains, pillows and other areas of a room.

    Soulflower_Luxury_Incense_Sticks_Handcrafted_Agarbatti_Pack_of_4X20_Sticks

    7. Soulflower Pooja Oil + Agarbatti Combo:

    For a blissful, divine prayers and pooja experience, add this combination of Kesar and Sandalwood Puja Oil and Incense sticks (Rose, Sandalwood, Kesar, Mogra).

    There you have it! When you visit your relatives, friend,s or neighbors, get them a gift that shows your admiration, respect, and love towards them. Because nobody goes ‘Khaali Haath’ when one is visiting their loved ones. This Ganpati stands out and makes a lasting impression with our range of thoughtfully curated and designed gift sets containing products made with ingredients grown fresh on Soulflower’s farm in Rajasthan.


    Neel Achary

  • TRAI has changed the time limit for blocking SMS for Jio, Airtel, VI and BSNL users

    TRAI: Telecom Regulatory Authority of India (TRAI) has extended the deadline for telecom operators to check the transmission of SMS that contain web links and are not whitelisted by one month to October 1.

    It is worth noting that TRAI had set a deadline of September 1 to block all messages containing web links or app download links that are not whitelisted.

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    What did TRAI say?

    TRAI said that an extension of one month has been given in response to the request for additional time by telecom operators. The statement further said that TRAI has given an extension of one month to access providers to comply with its directive issued on August 20, 2024 regarding whitelisting of URLs/APKs/OTT links. The revised directive states that all access providers should ensure that ‘traffic’ containing URLs/APKs/OTT links which are not whitelisted… will not be allowed from October 1, 2024.

    Also Read: Govt Employees Salary: Govt has stopped the salary of 2,44,565 govt employees for the…

    TRAI has come up with new rules aimed at preventing misuse of SMS headers and content templates to enhance security and ensure an efficient telecom landscape. The regulator has directed operators to ensure that all messages are traceable from sender to recipient from November 1. With PTI language inputs.

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    Jyoti

    Jyoti , has 2 years of experience in writing Finance Content, Entertainment news, Cricket and more. She has done BA in English. She loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com

  • Asda Forecourt Growth Fuelled by Evolve

    Wigan, UK. 03 September 2024: Evolve, the leading provider of Managed Network Solutions and IT services, has announced its pivotal role in Asda’s strategic move towards becoming Britain’s second-largest grocer. Following Asda’s acquisition of 116 petrol forecourt sites from the Co-op in 2022 in a £600 million deal, the supermarket giant faced the challenge of delivering a seamless and efficient user experience at these new locations.

    To meet this goal, Asda required state-of-the-art technology and dependable managed connectivity services. Evolve stepped in to provide the essential infrastructure, ensuring that consumers can enjoy a broad range of products and services conveniently and reliably.

    Commenting on the project, Alan Stephenson-Brown, CEO at Evolve, said: “The fuel forecourt sector is highly competitive, where connectivity is key to success. Asda selected Evolve as it’s connectivity partner thanks to our two decades of extensive experience and expertise in the forecourt sector, and I’m incredibly proud of the service we delivered.

    “A key challenge facing the team was that each of the new sites requiring connectivity faced time constraints, meaning it was imperative for our engineering and development teams to tailor the connectivity solution to fit the deadline. We are well-versed in the dynamic nature of the market and the importance of keeping pace with its customers, and were able to deliver the Asda solution ahead of schedule.”

    Fully managed network solutions, including SD-WAN, connectivity, and guest Wi-Fi, as well as connectivity to third parties such as POS vendors and fuel tank polling, are essential for businesses in the forecourt sector to operate efficiently and deliver a seamless customer experience. To this end, Evolve supplied a secure network and robust connection able to support fuel and store sales, third-party services and guest Wi-Fi.

    Ashley Cowley, Asda Technology Senior Manager for Express Stores added: “We approached Evolve with this project as we knew it was a big ask to get everything up and running with limited downtime. The team got round this by setting the sites up to run on 4G/5G to ensure they remained operational. Temporary communications for installations were also used at the beginning of the project, and overnight installations were carried out to minimise disruption to operations.

    “Evolve managed the entire project from start to finish, and we now have a new tech stack that’s been specifically designed with point-of-sale, and all other connectivity-dependent elements in mind. Evolve’s solution will enable us to operate more efficiently while streamlining operations and reducing downtime in future.”

    By investing in fully managed network solutions, Asda forecourts can now also collect valuable data and analytics for more informed decision-making, and allowing it to tailor offerings.

    Evolve specialises in network solutions for forecourts, including fuel stations and convenience stores. Its managed network services optimises supply chain management, logistics, and store operations, leading to improved profitability and customer satisfaction.

    For more information, visit info@evolvebg.co.uk.


    Neel Achary

  • Current Trends and Future Outlook

    Understanding Candle Sticks in Stock Market Chart

    Company Overview

    NMDC Limited (National Mineral Development Corporation) is an Indian public sector enterprise primarily engaged in the exploration and production of iron ore, along with other minerals. It is one of the largest iron ore producers in India, with operations that span several iron ore mines in the country. The company’s performance is closely tied to the demand for steel and global commodity prices, making its stock an interesting subject for analysis.

    Recent Performance

    Price Movement: In the recent months of 2024, NMDC’s share price has shown a mixed performance, influenced by global economic conditions, domestic policy changes, and fluctuating commodity prices. As of September 2024, the stock has been experiencing some volatility due to a combination of internal and external factors.

    • Short-term Trends: Over the past few weeks, NMDC’s share price has seen a fluctuation between ₹110 and ₹125 per share. The stock has been under pressure due to concerns over declining iron ore prices in the global market, which has been exacerbated by a slowdown in demand from key markets like China.
    • Year-to-Date (YTD) Performance: On a year-to-date basis, NMDC shares have experienced a modest gain, reflecting a recovery from the lows seen in late 2023. The stock started the year around ₹100 and has gradually moved upwards, though the pace has slowed due to recent global market uncertainties.

    Volume and Market Sentiment: Trading volumes for NMDC have been relatively stable, though there has been a noticeable increase in activity during periods of price dips, indicating buying interest at lower levels. Market sentiment towards the stock has been cautiously optimistic, with many investors viewing it as a value buy due to its attractive valuation and the strategic importance of iron ore in the global market.

    Fundamental Analysis

    Revenue and Profitability: NMDC has reported stable revenue growth in recent quarters, driven by steady production levels and efficient cost management. However, the company’s profitability has been slightly affected by fluctuating iron ore prices and increased competition in the domestic market.

    • Revenue: For the most recent quarter, NMDC reported a revenue increase of around 5% year-over-year, supported by higher domestic sales volumes.
    • Net Profit: The company’s net profit margin has been under pressure, dropping slightly due to higher operating costs and lower realization per ton of iron ore.

    Valuation: NMDC is currently trading at a price-to-earnings (P/E) ratio that is lower than the industry average, making it an attractive option for value investors. The stock’s price-to-book (P/B) ratio also suggests that it is trading below its intrinsic value, offering a potential upside for long-term investors.

    Dividends: One of the attractive aspects of NMDC shares is its consistent dividend payout. The company has a strong track record of rewarding shareholders with dividends, which is a significant draw for income-focused investors. The current dividend yield is approximately 4-5%, which is relatively high compared to other companies in the same sector.

    Technical Analysis

    Support and Resistance Levels:

    • Support Level: The stock has strong support around ₹110, which has historically been a buying zone for investors.
    • Resistance Level: On the upside, the stock faces resistance at ₹125-₹130, which it has struggled to break through in the past few months.

    Moving Averages:

    • 50-Day Moving Average: The stock is currently trading near its 50-day moving average, indicating a neutral trend in the short term.
    • 200-Day Moving Average: NMDC’s 200-day moving average is slightly below the current trading price, suggesting that the stock is still in a long-term uptrend.

    Relative Strength Index (RSI):

    • The RSI for NMDC is hovering around the 50 mark, indicating that the stock is neither overbought nor oversold at current levels. This neutral RSI reading suggests that the stock could go in either direction depending on upcoming market conditions.

    External Factors Impacting NMDC

    Global Iron Ore Prices: Iron ore prices have been under pressure due to slowing demand from China, the world’s largest consumer of iron ore. Any further decline in prices could negatively impact NMDC’s revenue and profitability, putting downward pressure on its share price.

    Government Policies: Changes in government policies, such as export duties on iron ore or changes in mining regulations, can have a significant impact on NMDC’s operations and profitability. Investors should keep an eye on any announcements related to these areas.

    Economic Conditions: The global economic outlook, particularly in major steel-producing countries, will influence demand for iron ore. Economic slowdowns or geopolitical tensions could impact NMDC’s business and, consequently, its share price.

    Future Outlook

    Bullish Case:

    • If global iron ore prices stabilize or recover, NMDC could see an improvement in its profitability, leading to an upward revision in its share price.
    • Continued focus on infrastructure development in India could drive domestic demand for steel, benefiting NMDC’s sales volumes.
    • The stock’s attractive valuation and strong dividend yield make it appealing for long-term investors, potentially supporting a gradual increase in the share price.

    Bearish Case:

    • A further decline in global iron ore prices could weigh on NMDC’s revenue and margins, leading to a drop in the stock price.
    • Any adverse changes in government policies or increased competition in the domestic market could negatively impact the company’s performance.
    • If global economic conditions worsen, particularly in China, it could lead to reduced demand for iron ore, negatively affecting NMDC’s prospects.

    Conclusion

    NMDC Limited remains a significant player in the iron ore industry with a stable operational base and a strong balance sheet. However, the stock’s performance in the near term will be closely tied to global commodity prices and economic conditions. For investors with a long-term horizon, NMDC offers a compelling value proposition, particularly given its consistent dividend payouts and attractive valuation. However, those looking for short-term gains should be cautious and closely monitor external factors that could influence the stock’s price.


    Neel Achary

  • Ration Card Ekyc: Get your ration card’s e-KYC done immediately before this date, Otherwise you will not get benefit

    Ration Card Ekyc: Today, the number of such poor people in the country is very high, who are not able to get two meals properly. Every year many people are dying in the country due to starvation.

    In view of this problem, the Government of India is running many types of public welfare schemes. The Government of India is giving the benefit of free ration facility to crores of poor people in the country. The central government has been giving the benefit of free ration facility to about 80 crore people of the country since the time of Covid. There is an important news for those who are taking advantage of the free ration scheme of the Government of India in the country. People taking advantage of the free ration facility should get their e-KYC done in the scheme as soon as possible. The government has given a deadline for this.

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    If you do not get your e-KYC done in the ration card by September 30, 2024. In this situation, you will not get the benefit of free ration facility. For this reason, you should get your e-KYC done in the scheme as soon as possible before September 30, 2024.

    Also Read: Great Pension: By investing Rs 55, you will get a pension of Rs 3000…

    The process of getting e-KYC done in ration card is quite easy. You will not have to face any kind of problems in this. To get e-KYC done in ration card, you have to go to the nearest ration shop along with all the family members.

    During this time, you will have to take your ration card, its copy and Aadhar card with you. After going to the shop, you will have to meet the ration dealer and tell him that you have to get your e-KYC done in the ration card.

    After this, the ration dealer will do e-KYC of all the family members by taking their fingerprints on the POS machine. In this easy way, you can easily get your e-KYC done in the ration card.

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  • Centre urges state govts to include marginalised workers under PM housing scheme

    Centre urges state govts to include marginalised workers under PM housing scheme

    Centre urges state govts to include marginalised workers under PM housing schemeIANS

    The Centre on Tuesday requested state governments to extend the benefits of the Pradhan Mantri Awas Yojana (PMAY) to disadvantaged workers, to ensure social justice and enhance ease of living.

    The Ministry of Labour and Employment said it has issued a letter to all state governments, urging the inclusion of migrant workers, building workers, beedi workers, cine workers, non-coal mine workers, contract labourers and other unorganised workers under the housing scheme.

    The decision follows the Union Cabinet’s approval to extend the implementation of PMAY for an additional five years — from FY24-25 to FY2028-29, with the aim of providing 2 crore additional houses to eligible beneficiaries.

    In a statement, the ministry emphasised that these workers represent a disadvantaged section of society and ensuring their coverage under PMAY is not only a matter of social justice but also a necessary step towards improving their living conditions.

    In addition, the government has announced that the management information system (MIS) portal, launched on August 21 for building and construction and migrant workers, is now fully operational.

    “The portal has been designed to facilitate the collection and analysis of data including information on fund utilisation and workers’ coverage under various central and state social security schemes, such as insurance, health benefits, and housing schemes,” the government informed.

    Housing

    Government has released Rs 1.64 lakh crore for urban housingIANS

    Reiterating the importance of a concerted effort towards the upliftment of these marginalised workers, the ministry also instructed welfare commissioners posted in various states to collaborate closely with local authorities to ensure the successful implementation of these initiatives.

    “This move is expected to significantly improve the lives of millions of workers, ensuring they receive the housing and social security benefits they rightfully deserve,” said the ministry.

    The government has so far released Rs 1.64 lakh crore to all states and Union Territories (UTs) under PMAY-U for constructing houses for the poor in urban areas. PMAY-U is a demand-driven scheme and the Union government has not fixed any target for construction of houses.

    Over 89 lakh houses under the scheme for the poor have been allotted to women to date.

    (With inputs from IANS)

     

  • Favourable monsoon boosts paddy sowing beyond normal levels this year

    Women plant rice saplings in a paddy field at Bamuni village

    Women plant rice saplings in a paddy field at Bamuni villageIANS

    Better monsoon this year has helped paddy sowing surpass the average area of the last five years. The paddy cultivation reached 408.72 lakh hectares (as of September 2), exceeding the average of 401.55 lakh hectares.

    This represents a 3.84 per cent increase in paddy cultivation compared to last year, when 393.57 lakh hectares were sown by this time.

    According to the Ministry of Agriculture and Farmers Welfare, Kharif crop sowing has expanded by 1.91 per cent to 1,087.33 lakh hectares, up from 1,066.89 lakh hectares at the same time last year.

    The data showed that 125.13 lakh hectares area coverage under pulses has been reported, compared to 116.66 lakh hectares during the corresponding period of last year.

    Also, 187.74 lakh hectares area coverage under coarse cereals has been reported, compared to 181.06 lakh hectares during the corresponding period of last year.

    India speeds up rice shipments to help crisis-ridden Sri Lanka

    Government has allocated Rs 1.52 lakh crore for agricultureIANS

    For oilseeds, 190.63 lakh hectares area coverage been reported by August 30, compared to 188.83 lakh ha during the corresponding period of last year.

    Meanwhile, 57.68 lakh hectares area coverage under Sugarcane has been reported compared to 57.11 lakh hectares during the corresponding period of last year, the ministry data showed.

    The sown area has gone up in the current season as better monsoon rains have facilitated the sowing in unirrigated areas of the country which account for close to 50 per cent of the country’s farmland.

    The agriculture sector is expected to get a further boost as Finance Minister Nirmala Sitharaman has announced an outlay of Rs 1.52 lakh crore in Budget 2024-25 to increase production and resilience in the agriculture and allied sectors.

    The measures unveiled to enhance productivity and resilience in the agriculture sector include Digital Public Infrastructure, ‘atmanirbharta’ for oil seeds and large-scale clusters for vegetable production.

    (With inputs from IANS)

     

     

  • EPS 95: Can pension be received even before the age of 58, know what are the rules of EPFO

    The Employees’ Provident Fund Organization (EPFO) is a government organization that works for the interests of employees under the Ministry of Labor. EPFO ​​​​launched EPS 95 i.e. Employee Pension Scheme 95 for people doing private jobs in the year 1995.

    Under this scheme, both the employee and his company contribute. While on one hand the entire 12 percent of the employee’s share goes to the Provident Fund, on the other hand, out of 12 percent of the company’s money, 3.67% goes to the employee’s Provident Fund and 8.33% goes to EPS.

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    To be eligible for EPS, it is necessary to work for 10 years

    The money that goes into EPS is given to the employee as pension every month after his retirement. To be eligible for EPS, the employee has to continue contributing for at least 10 years. When an employee completes 10 years of service, he becomes eligible for EPS. Under EPS, employees get a minimum pension of Rs 1000 and a maximum of Rs 7500 every month on completion of 58 years of age. But here we will know whether pension can be obtained before the age of 58.

    What is the eligibility to get pension before the age of 58

    According to the rules of EPFO, if you contribute to EPS while working for 10 years and your age is more than 50 and less than 58, then you can get pension even earlier. But here you have to keep one thing in mind that if you get pension before the age of 58, then the amount of pension you get every month will be reduced by 4 percent. Apart from this, if you take pension after the age of 60, then you get the full amount, which increases at the rate of 4 percent every year.

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  • Sensex closes flat, ICICI Bank and Bajaj Finserv top gainers

    Sensex closes flat, ICICI Bank and Bajaj Finserv top gainers

    IANS

    Indian equity indices closed flat on Tuesday amid mixed global signals and the absence of significant new catalysts.

    Sensex closed with a slight fall of 4.40 points at 82,555 while Nifty rose by one point at 25,279. Market sentiment was positive.

    On the Bombay Stock Exchange (BSE), at closing 2,011 shares were in the green, 1,925 shares in the red, and 118 shares without any change.

    In the Sensex pack, ICICI Bank, Bajaj Finserv, Titan, Nestle, HDFC Bank, Wipro, SBI, M&M, L&T, Kotak Mahindra, and UltraTech Cement were the top gainers. Bajaj Finance, Infosys, JSW Steel, HCL Tech, IndusInd Bank and Bharti Airtel were the top losers.

    Among the NSE indices, Nifty fin service, Nifty pharma and Nifty private bank contributed the most. Nifty auto, Nifty IT, Nifty metal and Nifty realty fell the most.

    According to market experts, amid mixed global signals and the absence of significant new catalysts, aside from the anticipated Fed rate cut, which is already factored in, the domestic market took a breather.

    sensex

    IANS

    Mild caution emerged due to a recent slowdown in manufacturing activities, which indicates a slowdown in demand, the experts said.

    Buying was seen in the midcap and smallcap stocks. The Nifty Midcap 100 index was up 145 points or 0.25 per cent at 59,297 and the Nifty Smallcap 100 index was at 19,326, up 82 points or 0.43 per cent.

    However, predictions of an above-normal monsoon extending through September and accelerated capex by the GoI in the H2FY25 boosted consumption and rural-based stocks like FMCG stocks, the market experts added.

    Shrey Jain, Founder and CEO of SAS Online, said: “The Nifty is expected to consolidate around current levels, with the potential for limited upside due to aggressive call writing across multiple strike prices. On the downside, the 25,200 level is anticipated to provide key support.”

    The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 1,735.46 crore on September 2, while domestic institutional investors bought equities worth Rs 356 crore on the same day.

    (With inputs from IANS)

     

  • World Bank forecasts steady growth for India amid challenging global environment

    Improvement in employment rates and record foreign exchange reserves have further strengthened India's economic position

    Improvement in employment rates and record foreign exchange reserves have further strengthened India’s economic position

    India’s economy continues to demonstrate resilience and robust growth despite challenging global conditions. The World Bank’s recent report underscores the country’s positive medium-term outlook, with a projected growth rate of 8.2 percent in FY23/FY24. This growth is expected to reach 7 percent in FY24/FY25 and remain strong in FY25/FY26 and FY26/FY27.

    The World Bank attributes this robust growth to several factors. Firstly, India’s revenue growth has been robust, and further fiscal consolidation is expected. This has led to a projected decline in the debt-to-GDP ratio from 83.9 percent in FY23/24 to 82 percent by FY26/FY27. The current account deficit is also expected to remain at around 1-1.6 percent of GDP up to FY26/FY27.

    Secondly, India’s growth has been boosted by public infrastructure investment and an upswing in household investments in real estate. On the supply side, the growth was supported by a buoyant manufacturing sector, which grew by 9.9 percent, and resilient services activity, which compensated for underperformance in agriculture.

    Thirdly, urban unemployment has improved gradually since the pandemic, especially for female workers. By the beginning of FY24/25, female urban unemployment fell to 8.5 percent. This improvement in employment rates has been a significant contributor to the country’s economic growth.

    Furthermore, with a narrowing of the current account deficit and strong foreign portfolio investment inflows, foreign exchange reserves reached an all-time high of $670.1 billion in early August. This has further strengthened the country’s economic position. The World Bank report also highlighted the critical role of trade for boosting growth. India has boosted its competitiveness through the National Logistics Policy and digital initiatives that are reducing trade costs.

    However, to reach its $1 trillion merchandise exports goal by 2030, India needs to diversify its export basket and leverage global value chains. According to Nora Dihel and Ran Li, senior economists and co-authors of the report, to create more trade-related jobs, India can integrate more deeply into global value chains. This will also create opportunities for innovation and productivity growth.

    Make in India

    ‘Make in India’ initiative has given a large push to foreign direct investment in India.Reuters

    The World Bank’s Country Director in India, Auguste Tano Kouame, stated that India’s robust growth prospects, along with declining inflation, will help to reduce extreme poverty. He also mentioned that the country could boost its growth further by harnessing its global trade potential. In addition to IT, business services, and pharma where it excels, India can diversify its export basket with increased exports in textiles, apparel, and footwear sectors, as well as electronics and green technology products.

    The World Bank’s positive outlook on India’s economy is echoed by other sources. For instance, a report by SocialNews.XYZ also highlighted India’s strong growth despite challenging global conditions. It noted that India remains the fastest-growing major economy and grew at a rapid pace of 8.2 percent in FY23/FY24.

    India’s medium-term economic outlook remains positive amid strong growth. The country’s robust revenue growth, fiscal consolidation, declining debt-to-GDP ratio, and improved employment rates, particularly for female workers, have contributed to this positive outlook. The World Bank suggests that India can further boost its growth by harnessing its global trade potential and diversifying its export basket. However, to achieve its ambitious $1 trillion merchandise exports goal by 2030, India needs to integrate more deeply into global value chains and leverage opportunities for innovation and productivity growth. The country’s economic resilience and growth potential are a beacon of hope amid global economic challenges.