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Indian Navy to commission INS Jatayu

March 2, 2024 - 7:03pm
The Indian Navy will commission Naval Detachment Minicoy as INS Jatayu on March 6, a move that seeks to "incrementally augment" security infrastructure at the strategically important Lakshadweep Islands, according to officials. The commissioning will take place in the presence of Navy Chief Adm R Hari Kumar, they said on Saturday. "The event marks an important milestone in the Navy's resolve to incrementally augment security infrastructure at the strategically important Lakshadweep Islands," a senior official said. Naval Detachment Minicoy was setup in early 1980s under the operational command of Naval Officer-in-Charge (Lakshadweep). Minicoy is the southern most island of Lakshadweep which straddles the vital Sea Lines of Communications (SLOCs). Basing of an independent naval unit with requisite infrastructure and resources will enhance the overall operational capability of the Indian Navy in the islands, the official said. The base will enhance operational reach and facilitate the Navy's operational efforts towards anti-piracy and anti-narcotics operations in Western Arabian Sea, the officials said. "It will also augment the Indian Navy's capability as the first responder in the region and augment connectivity with the mainland. The establishment of a naval base is in line with the Government of India's focus towards comprehensive development of islands," the official added. INS Jatayu is the second naval base in Lakshadweep after INS Dweeprakshak in Kavaratti. "With the commissioning of INS Jatayu, the Indian Navy will strengthen its foothold in the Lakshadweep islands and along with extending operational surveillance, reach and sustenance, it will usher a in new era of capacity building and comprehensive development of the island territories," the official said.
Categories: Business News

Here's BJP's 1st list of Lok Sabha candidates

March 2, 2024 - 6:27pm
The Bharatiya Janata Party (BJP) on Saturday released the first list of candidates for the upcoming General Elections, hinting at the party's readiness for the big polls.The BJP, as anticipated, unveiled its initial roster of candidates for the 2024 Lok Sabha election, comprising more than 195 names. Notable figures such as Prime Minister Narendra Modi and 34 Union Ministers and Minister of States feature prominently in this list. It also includes the name of Lok Sabha Speaker Om Birla along with two former Chief Ministers.PM Modi will contest from his stronghold, Varanasi, and Union Minister Amit Shah will fight from Gandhinagar, said party's general secretary Vinod Tawde. Ravi Kishan and Smriti Irani have been fielded from Gorakhpur and Amethi respectively, again.BJP has again fielded Kiren Rijiju and Tapir Gao from two Arunachal Pradesh seats for the Lok Sabha polls. Union Minister V Muralidharan is set to contest from Attingal and Union Minister Rajeev Chandrasekhar will contest from Thiruvananthapuram, the BJP General Secretary further said.Following multiple rounds of discussions, the inaugural session of the BJP's central election committee held a meeting at the party headquarters on Thursday, with Prime Minister Narendra Modi, J P Nadda and other senior figures in attendance.The list, which is for for 18 states and Union Territories, also consists of 28 women, 27 SC and 57 OBC candidates, while also featuring 47 candidates who are below 50 years of age.For Gujarat and Rajasthan nearly 15 seats for each have been declared, where as 9 candidates from Kerala, 9 from Telangana, 11 from Assam, Jharkhand and Chhattisgarh each.Meanwhile, five candidates from Delhi have been announced and 1 from Goa. Earlier today, BJP MP Jayant Sinha and Gautam Gambhir had bowed out from contesting the upcoming Lok Sabha polls. While the former cited the need to focus his efforts on combating global climate change in Bharat and around the world, the latter cited upcoming cricket commitments.Delhi:CandidatesSeatBansuri SwarajNew DelhiKamaljit SehrawatWest Delhi Ramvir Singh BidhuriSouth DelhiManoj TiwariNorth East Delhi Parveen KhandelwalChandni ChowkTelanganaCandidatesSeatG Kishen ReddySecunderabadDr Madhavi LathaHyderabad Bandi Sanjay KarimnagarArvind DharampuriNizamabadB B PatilZaheerabadB Narsaiah GoudBhongirEtala Rajendra MalkajgiriKonda Vishweshwar ReddyChevellaP Bharat (SC)NagarkurnoolUttar PradeshCandidatesSeatPradeep KumarKairanaDr Sanjeev Kumar Baliyan MuzaffarnagarOm Kumar (SC)Nagina Ghanshyam LodhiRampurParmeshwar Lal SainiSambhalKanwar Singh TanwarAmrohaDr Mahesh Sharma Gautam Budh NagarDr Bhola SinghBulandsheharHema MaliniMathuraSatyapal Singh Baghel (SC)AgraRajkumar ChaharFatehpur SikhriRajvir Singh (Raju Bhaiya)ItahDharmendra KashyapAonlaArun Kumar Sagar (SC)ShahjahanpurAjay Mishra 'Taini'KheriRekha VarmaDhurahraRajesh Varma SitapurJaiprakash Rawat (SC)HardoiAshok Kumar Rawat (SC)MisrikhSakshi MaharajUnnaoKaushal KishorMohanlal GunjRajnath SinghLucknowSmriti IraniAmethiSangamlal GuptaPratapgarhMukesh RajputFarooqabadRamshankar KatheriaItawahSubrat PathakKannaujDevendra Singh Bhole AkbarpurBhanu Pratap Singh Varma (SC)JalaunAnurag Sharma JhansiKunwar Pushpendra Singh ChandelAmirpurR.K. Singh PatelBandaSadhvi Niranjan JyotiFatehpurUpendra Singh RawatBarabankiLallu SinghFaizabadRitesh PandeyAmbedkarnagarSaket MishraShrawastiKeerti Vardhan Singh alias Raja BhaiyaGondaJagdambika PalDmmariyaganjHarish DwivediBastiPraveen Kumar NishadSant Kabir NagarPankaj ChoudharyMaharajgujRavi KishanGorakhpurVijay Kumar DubeyKushinagarKamlesh Paswan (SC)BansgaonNeelam Sonkar (SC)LalganjDinesh Lal YadavAzamgarhRavindra KushwahaSalempurKripashankar SinghJaunpurDr Mahendranath PandeyChandauliGujarat CandidatesSeatVinodbhai Lakhmashi ChavdaKachchhDr Rekhaben Hitesh Bhai ChowdharyBanaskanthaBharat Singhji DhabiPathanAmit ShahGandhinagarDineshbhai Kodarbhai Makhwana (SC)Ahmedabad WestParshottam Rupala RajkotMansukhbhai MandaviyaPorbandarPoonamben Maadam JamnagarNiteshbhai Rameshbhai PatelAnandDevusinh Chouhan KhedaRajpalsinh Mahendrasinh JadhavPanchmahalJaswant SIngh Babhor (ST)DahodMansukhbhai VasavaBharuchPrabhubhai Nagarbhai Vasava (ST)BardoliCR Patil NavsariKeralaCandidates SeatM.L. AshwiniKasaragodC. RaghunathKannur Prafulla KrishnaVadakaraM.T. RameshKozhikodeDr. Abdul SalamMalappuramNiveditha SubramanianPonnani C. KrishnakumarPalakkadSuresh GopiThrissurShobha SurendranAlappuzhaAnil K. AntonyPathanamthitta V. MuraleedharanAttingalRajiv ChandrasekharThiruvananthapuram Madhya PradeshCandidatesSeatShivmangal Singh TomarMorenaSandhya Rai (SC)BhindBharat Singh KushwahaGwaliorJyotiraditya ScindiaGunaLata WankhedeSagarVirendra Khatik (SC)Tikamgarh Rahul LodhiDamoh V.D. SharmaKhajurahoGanesh SinghSatnaJanardan MishraRewa Dr. Rajesh MishraSidhiJabalpur Shri Ashish Dubey (ST)Shahdol Faggan Singh Kulaste (ST)Mandla Darshan Singh ChoudharyHoshangabadShivraj Singh ChouhanVidisha Alok SharmaBhopal Rodmal NagarRajgarh Mahendra Singh Solanki (SC)DewasSudhir GuptaMandsour Anita Nagar Singh Chauhan (ST)Ratlam Gajendra Patel (ST)Khargone Gyaneshwar PatilKhandwa Durga Das Uikey (ST)BetulRajasthanCandidatesSeatArjun Ram Meghwal (SC)Bikaner Devendra JhajhariaChuruSwami Sumedhanand SaraswatiSikar Bhupender YadavAlwar Ramswaroop Koli (SC) Bharatpur Jyoti MirdhaNagaurP.P. ChaudharyPaliGajendra Singh ShekhawatJodhpurKailash ChoudharyBarmerLumbaram ChoudharyJalore Mannalal Rawat (ST)Udaipur Mahendra Malviya (ST)BanswaraC.P. JoshiChittorgarhOm BirlaKotaDushyant SinghJhalawar-Baran Tripura CandidateSeatBiplab Kumar DebTripura WestUttarakhandCandidate SeatMala Rajya Laxmi ShahTehri GarhwalAjay TamtaAlmoraAjay BhattNainital-Udhamsingh NagarWest BengalCandidate SeatNisith Pramanik (SC) Cooch Behar Shri Manoj Tigga (ST) Alipurduars Dr. Sukanta MajumdarBalurghatKhagen MurmuMalda Uttar Syeerupa Mitra ChowdhuryMalda DakshinDr. Nirmal Kumar SahaBaharampur Gauri Shankar GhoshMurshidabadJagannath Sarkar (SC)Ranaghat Shantanu Thakur (SC) Bangaon Dr. Ashok Kandari (SC) JoynagarDr. Anirban GangulyJadavpur Dr. Rathin ChakrabortyHowrah Locket ChatterjeeHooghlySoumendu AdhikariKanthiHiranmay ChattopadhyayGhatalJyotirmay Singh MahatoPuruliaDr. Subhash SarkarBankuraSoumitra Khan (SC) BishnupurPawan SinghAsansolPriya Saha (SC)BolpurJammu & KashmirCandidatesSeatDr. Jitendra SinghUdhampurJugal Kishore SharmaJammu JharkhandCandidates SeatTala Marandi (ST) RajmahalSunil Soren (ST)DumkaNishikant DubeyGoddaAnnapurna DeviKodarmaSanjay SethRanchiVidhyut Baran MahatoJamshedpurGeeta Koda (ST)SinghbhumArjun Munda (ST)KhuntiSamir Oraon (ST)LohardagaVishnu Dayal Ram (SC)PalamauManish JaiswalHazaribaghAndaman & Nicobar IslandsCandidateSeatBishnu Pada RayAndaman & Nicobar IslandsArunachal PradeshCandidateSeatArunachal WestKiren RijijuArunachal EastTapir GaoAssamCandidateSeatKripanath Mallah (SC)Karimganj Parimal SuklabaidyaSilcharAmar Sing Tisso (ST)Autonomous District Bijuli Kalita MedhiGuwahatiDilip SaikiaMangaldoiRanjit DuttaTezpurSuresh BoraNowgongKamakhaya Prasad TasaKaliaborTopon Kumar GogaiJorhatSarbananda SonowalDibrugarhPradhan BaruahLakhimpurChattisgarhCandidateSeatChintamani Maharaj (ST)Sarguja Radheshyam Rathia (ST)Raigarh Kamlesh Jangde (SC)Janjgir-Champa Sushri Saroj Pandey KorbaTokhan SahuBilaspurSantosh PandeyRajnandgaonVijay BaghelDurgBrijmohan AgarwalRaipurRoop Kumari Choudhary (ST)MahasamundMahesh KashyapBastar Bhojraj NagKanker Dadra & Nagar Haveli and Daman & DiuCandidateSeatLalubhai PatelDaman & Diu GoaCandidate SeatShripad Yesso NaikNorth Goa
Categories: Business News

Learn with ETMarkets: How to decode movement in gold, silver through technical, fundamental analysis

March 2, 2024 - 5:22pm
Navigating the ever-fluctuating world of precious metals like gold and silver requires a keen eye and a multi-pronged approach. While some traders swear by technical analysis, focusing solely on price charts and market sentiment, others prioritise fundamental analysis, delving into the underlying economic factors influencing prices. However, the most successful traders often adopt a holistic approach by combining both technical and fundamental analysis.Using fundamental analysis to understand whyFundamental analysis provides the why behind price movements. It involves evaluating factors that impact the intrinsic value of precious metals, such as:Global economic conditions: Economic growth, inflation, and interest rates significantly influence the demand for safe-haven assets like gold.Supply and demand dynamics: Changes in mine production, central bank reserves, and industrial applications affect the supply and demand balance, impacting prices.Geopolitical events: Political instability and global conflicts can trigger significant price fluctuations for precious metals.By analyzing these fundamental factors, traders can gain insights into the long-term direction of precious metal prices and make informed investment decisions.Using technical analysis to time the marketTechnical analysis focuses on the "how" of price movements. It utilizes technical indicators and chart patterns to identify entry and exit points for trades. Common technical tools used in precious metal trading include:Moving averages: These smooth out price data to identify trends and potential support and resistance levels.Relative Strength Index (RSI): This indicator measures price momentum and helps identify potential overbought or oversold conditions.Fibonacci retracements: These retracement levels can indicate areas where prices might find support or resistance after a significant move.While technical analysis doesn't predict future prices with certainty, it can offer valuable insights into short-term market sentiment and potential trading opportunities.Risk Management:A holistic approach to trading also involves robust risk management practices. By integrating technical and fundamental analysis, traders can better assess risk-reward ratios, set appropriate stop-loss levels, and manage position sizes effectively. Additionally, staying informed about both technical and fundamental factors allows traders to adapt quickly to changing market conditions and mitigate potential losses.The Symbiotic RelationshipCombining both fundamental and technical analysis creates a synergistic effect. Fundamental analysis provides the context and justification for a long-term investment thesis, while technical analysis helps time entry and exit points within this framework.For instance, a trader might identify strong economic tailwinds for gold prices through fundamental analysis. However, they might utilize technical analysis to wait for a pullback and a favorable entry point before buying.ConclusionBy embracing both technical and fundamental analysis, traders gain a comprehensive understanding of the market dynamics impacting precious metal prices. This synergistic approach empowers them to make informed investment decisions and navigate the complexities of the precious metals market with greater confidence.Remember: This approach doesn't guarantee success, and the market is inherently unpredictable. Always conduct thorough research, manage risk effectively, and never invest more than you can afford to lose.(The author is Vice President Commodities & Currency at LKP Securities)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Categories: Business News

Why did Google delist popular Indian apps ?

March 2, 2024 - 4:50pm
Categories: Business News

Ola at top of Feb E2W sales chart

March 2, 2024 - 3:57pm
The electric two-wheeler (E2W) market in India saw a significant surge in registrations during February 2024, indicating a robust 24% year-on-year growth in high-speed scooters. According to data sourced from Vahan, this surge reflects the growing traction of electric vehicles in the country, with key players making strides in this evolving sector.In February, registrations of high-speed E2Ws reached a total of 81,963 units, maintaining a steady month-on-month status. It's worth noting that the presence of an additional day in February contributed to this growth. The year-to-date average monthly run rate stood at 73,190 units, showing a remarkable 21% increase compared to the previous fiscal year's average of 60,500 units.The electric two-wheeler penetration rate for February 2024 reached 5.7%, a slight increase from January's 5.6%, highlighting the sustained momentum of E2Ws in the market.Leading the pack in February 2024 was Ola Electric, retaining its top spot with 33,722 units registered. Not only did Ola Electric secure the highest registrations, but it also commanded an impressive 41.1% market share. This accomplishment was further strengthened by a strategic price cut in the final 15 days of the month.Following Ola Electric were prominent players like TVS Motor with a market share of 17.7%, Bajaj Auto at 14.2%, and Ather Energy at 11%. Greaves Electric, formerly known as Ampere, captured 3.2% of the market share.Top 10 E2W players by volume in February 2024:Ola Electric (33,722 units)TVS Motor (14,499 units)Bajaj Auto (11,618 units)Ather energy (8,983 units)Greaves Electric (formerly Ampere) (2,606 units)Hero MotoCorp (1,750 units)Bgauss Auto (1,349 units)Wardwizard (840 units)Okinawa (660 units)Okaya EV (657 units)On MoM basis the top performers were:Hero MotoCorp (+17.1%)Okaya EV (+13.1%)Bajaj Auto (+6.9%)Ola Electric (+4.4%)Greaves Electric (+2.8%)On MoM basis the underperformers were:Wardwizard (-13.9%)Bgauss Auto (-9.3%)TVS Motor (-5.3%)Ather Energy (-3.8%)Okinawa (-3,4%)
Categories: Business News

Article 21 soul of Constitution, says SC

March 2, 2024 - 2:50pm
Categories: Business News

Fed decisions to set short-term direction for gold prices

March 2, 2024 - 12:41pm
Gold prices in the international and domestic markets suffered losses in the first two months of 2024. A strong US dollar, expectations of further delay in US Fed rate cuts, and a rally in global equities affected the sentiment surrounding the metal. The US Dollar has gained almost 3% since the start of January. Firm US economic releases and uncertainty over US rate cuts attracted investor attention to the US currency. Hopes of US Fed’s rate cuts may significantly impact the performance of bullion. Since there is no direct relationship between US interest rates and the price of gold, changes in rates largely affect the value of the US dollar which is inversely correlated to gold. Earlier there were forecasts that the US Federal Reserve may cut its rates as early as March, but the latest inflation data and cautious comments from the Fed officials indicate markets are scaling back expectations until June. When interest rates are lower, the returns on dollar-denominated assets like bonds and savings accounts decrease. This can lead to a decline in the value of the US dollar relative to other currencies. Since gold is priced in US dollar globally, a weaker dollar makes gold cheaper for investors holding other currencies, which can increase the demand for gold and its price. Also, gold does not pay interest or dividends. When interest rates are higher, the opportunity cost of holding gold is also higher. As interest rates fall, the opportunity cost of holding gold decreases, making it relatively more attractive compared to interest-bearing assets and potentially boosting demand for gold.Meanwhile, the broad fundaments remain healthy for the commodity. The escalating tensions in West Asia and ongoing Russia – Ukraine conflicts are raising concerns over the global growth outlook, offering support to haven commodities like gold.The forecast of the World Bank suggests the global economy is set for the weakest half-decade performance in 30 years. They also hinted that the global trade growth in 2024 is expected to be only half the average in the decade before the pandemic. Global economic uncertainty typically increases the demand for gold due to its safe-haven appeal and its special appeal as a hedge against inflation. Looking ahead, gold in the international market may continue to hold inside a tight range. There are fewer chances for major rallies or liquidation in the immediate run. However, investors are waiting for critical US Central Bank decisions and global growth outlook to get a broader price outlook. Escalation of geopolitical crisis, performance of the equity markets, and central bank purchases are the other factors that can largely influence the short-term price direction of the metal. On the domestic side, since gold prices are still at near record highs, there are chances of a correction possibly in the first half of 2024. Meanwhile, a weak INR and expectations of jewellery demand would offer downside support and hence it may preserve its positive outlook for the rest of the year.Gold is one of the best long-term assets which offers both safety and decent return to its investors. Domestic gold prices have doubled in the last 5 years, and it surged more than 980% since 2003. Hence, investors can make use of every price correction to add the metal into his/her portfolio for longer-term benefits. (The author is Head of Commodities at Geojit Financial Services)
Categories: Business News

PM Modi attacks TMC over corruption in Bengal

March 2, 2024 - 12:34pm
Categories: Business News

It’s time for intelligent investors to switch over to risk-off mode. Here’s why

March 2, 2024 - 12:24pm
Jason Zweig quoted in his book The Intelligent Investor…The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The Intelligent Investor is the one who knows when to take risks and buy shares when there is pessimism…and avoid risk and sell shares when there is optimism.After Covid, markets were in a risk-on mode fuelled by cheap liquidity. The low interest rates prompted investors to give up safe assets and take risks to earn higher returns. The valuations too went through the roof. However, it seems that now it’s time to switch back to risk-off mode. Here’s a ratio chart of MCX Gold to CNX 500, which is at an interesting juncture. Gold is a proxy for safety or risk-off mode while CNX 500 is a proxy for the broader markets and risk-on mode. When the ratio is falling, it means we are in a risk-on mode as equities are outperforming gold. When the ratio is rising it means we are in risk-off mode as gold is outperforming the broader market index. 108156910This ratio is currently placed near an all-time low of 3. It means that the chances of reversal in the ratio are high. The weekly RSI is also showing divergence. We are now entering a phase with higher volatility due to elections. Valuations in the broader market too are not very comfortable.Smallcap & midcap have shown significant performance since Covid lows, especially over the last year. Currently, both Nifty Small & Midcap indices are at their highest price-to-book levels seen in a decade. Below is the price-to-book value ratio chart of the Nifty small-cap 250. 108156928During the ‘risk-on’ environment, smallcap and midcap stocks are preferred by investors, which pushes up their valuations. When the investors expect uncertainty in the market they switch from aggressive sectors like small and mid-cap to defensive sectors like pharma and FMCG. Now here’s a ratio chart of Nifty FMCG to BSE Small-cap. The FMCG index has underperformed the BSE small-cap index since April 2020. The ratio is now taking support at its 10-year low. This indicates that the defensive FMCG index might outperform the aggressive small-cap index. The RSI indicator also shows that the ratio is at an oversold level. It is forming a bullish divergence which suggests a reversal in ratio might be due. 108156955And that’s not all in the past 14 years, the average returns of Nifty FMCG from March to July is 14.26% which is higher than the Nifty 50, S&P BSE Midcap, and S&P BSE Small-cap index returns of 7.19%, 9.18% & 10.70% respectively. In the past 7 out of 14 years, Nifty FMCG has outperformed Nifty 50, S&P BSE Midcap, and S&P BSE Small-cap index during the March to July months.108156966This indicates that if the markets switch over to risk-off mode now then FMCG stocks are likely to beat smallcap & midcap stocks.Looking at the upcoming general election in India, the market is likely to be volatile. During such uncertain times, investors must switchover to risk-off mode and prefer safer asset classes like FMCG, gold, government securities, and large-cap companies with low beta. Technical outlook:108156985Nifty continued its upward trajectory, registering a gain of 0.57% in the previous week and hitting a new high of 22,353. On a month-on-month basis, Nifty saw a 1.18% surge in February. The Index surged last Friday, propelled by India's 8.4% Q3 GDP growth which catalyzed the sideways market. The RSI stands firmly at the 61 level, indicating a balanced market. Support is placed at 22,050 levels while resistance is noted at 22,550 followed by 22,650 levels.Technically, the Nifty's primary trend remains positive concluding the third consecutive week with gains. Despite Nifty IT's underperformance, the overall sector has shown rotational participation. However, mid and small-cap stocks have remained undertone, prompting caution against excessive exposure to them.
Categories: Business News

Telangana rejoins PM Fasal Bima Yojana scheme

March 2, 2024 - 11:37am
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