Rupee opens 27 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 27 paise at Rs 76.14 against the dollar. On the other hand, the rupee on Wednesday gained 10 paise to close at Rs 76.41 against the dollar.
All India Weather Forecast for May 05, 2022Weather systems made across the countryA Western Disturbance is persisting over Jammu and Kashmir and adjoining region.An Induced Cyclonic Circulation lies over Central Pakistan and adjoining region.A trough is extending from Punjab to Bangladesh passing through Haryana, South Uttar Pradesh, South Bihar and West Bengal.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over Manipur, Telangana, Coastal Odisha, Andaman and Nicobar Islands, Himachal Pradesh and Interior Tamil Nadu.Light to moderate rain occurred over rest of Northeast India, rest of Tamil Nadu, Coastal Karnataka, Rayalaseema and Jammu and Kashmir.Light rain occurred in one or two parts of West Bengal, East Madhya Pradesh, Chhattisgarh, Vidarbha, Coastal Andhra Pradesh and Vidarbha, North Punjab and North Haryana.The heat wave has stopped in the country.Probable weather activity during next 24 hoursModerate to heavy rain with very heavy rain at one or two places is very likely over Andaman and Nicobar Islands for the next 2-3 days. The sea condition will be rough to very rough over South Andaman Sea and adjoining parts of southeast Bay of Bengal. There will be high waves in the sea and strong winds can blow.Light to moderate rain is possible over Northeast India, Sub-Himalayan West Bengal, Sikkim parts of Odisha and isolated parts of Kerala over Tamil Nadu.Light to moderate rain may occur over Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, Himachal Pradesh, Uttarakhand, East Uttar Pradesh, Bihar, Jharkhand, parts of Chhattisgarh, Interior Karnataka, Rayalaseema, Coastal Karnataka and one or two parts of Telangana.Light rain and thundershowers are very likely to occur over parts of Punjab, Haryana, North Rajasthan, Delhi and West Uttar Pradesh.
On Wednesday evening, the Sensex lost 1307 points and closed at 55669.03. Rupee gains strength against dollar, gains 10 paise to close at 76.41.The fall in gold, till the writing of the news, the price reached Rs 50647, falling by Rs 161. There was a slight increase in the cotton physical market in the North Zone, the rest of the entire India market remained stable. Soyabean seed rose by Rs 100-150 per quintal to reach 7150-7400.
On increasing cotton yarn prices on Monday, garment manufacturers in Tiurppur have needed a ban on export of cotton and cotton yarn. Textile mills have, meanwhile, urged the Union government to come back out with a system to gather accurate data on cotton production and consumption.“There is no any data on cotton production, consumption, stocks available with farmers and traders,” Ravi Sam, chairman of Southern India Mills’ Association (SIMA), said.“Textile mills are adding spindles and cotton consumption is increasing. Only with proper data govt can take decisions which will help the industry,”It is estimated that a minimum of two lakh spindles are added each month resulting in higher demand for cotton. Textile mills have started contracting cotton from overseas suppliers though international prices are at this time slightly higher of domestic prices. If cotton and yarn exports are banned, prices will crash and also the mills will incur losses, he said. Cotton prices reduced slightly when the govt removed the duty. However, the costs started stoning up afterward.The government should announce a technology mission on cotton to extend productivity and introduce a system to gather proper data on cotton, he said.
The garment units in Tirupur, widely referred to as the garment capital of South India, will down shutters from May 16 to 21 in protest against the hike in prices of cotton yarn.The price of cotton yarn has increased by Rs 40 per kg after the Centre reduced the tariff on cotton.The strike call was announced by the Tirupur garment owners association during a statement on Tuesday.The garment units, mostly exporters, are worried that the hike in cotton yarn prices will adversely affect their business and, hence, as a mark of protest they'll stage the six-day protest. The annual turnover of the Tirupur apparel industry is around Rs 36,000 crore.Tirupur garment owners association president, M.P. Muthuraman, while chatting with IANS, said, "The cotton mills increased the worth of yarn by Rs 50 per kilogram in November 2021, and also the yarn was sold at Rs 350 per kg. Now after the govt of India has reduced the duty of cotton, we were expecting prices of yarn to fall, instead, mills have increased it by Rs 40 per kg with which we cannot survive. we've no other option but to shut our units as a mark of protest."Tiruppur Exporters Association (TEA) president, Raja Shanmugham while talking to IANS said, "We request the Union government to effect a ban on the export of cotton yarn till the worth stabilizes."He said that there are possibilities of cotton being hoarded by traders in North India resulting in scarcity of product.Tamil Nadu Spinning Mills Association (TNSMA) special advisor, Dr. K. Venkitachalam while chatting with IANS said, "The cotton traders in North India are hoarding the merchandise creating scarcity and hence mills are increasing the costs. There seems to be no effect on the removal primal duty of cotton by the govt of India."He also said that when the removal great duty for cotton was announced, there was a direct drop by candyfloss prices, but now with less availability of spun sugar, the value has come up.
Cotlook’s April supply and demand forecasts indicate higher figures for production and consumption in 2021/22 but reduced consumption next seasonThe past month has seen a modest increase in Cotlook’s forecast of raw cotton output in the 2021/22 season, entirely attributable to improved performance in the African Franc Zone. Consumption was also increased, by 25,000 tonnes overall, owing to shifts in the assessments of demand in Far Eastern markets outside China. The result is that world stocks by the end of the current season are now expected to decrease by 229,000 tonnes, compared to 219,000 a month ago.Production estimates for 2022/23 were unchanged, while consumption was subject to a further reduction arising from another cut for Vietnam. Global cotton stocks by July 31, 2023 are thus forecast to increase by 515,000 tonnes year on year, up from 465,000 in our March estimate.
Today evening, the rupee strengthened by 10 paise to close at Rs 76.41 against the dollar.Sensex closed down by 1307 points today eveningToday RBI has suddenly increased the repo rate. Due to this, there was a negative effect in the stock market and in the end it closed with a huge fall.Today, where the Sensex closed at a level of 55669.03, down 1306.96 points.Nifty closed at a level of 16677.60 points down by 391.50 points.
Rupee opens 6 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 6 paise at Rs 76.46 against the dollar. At the same time, on Monday, the rupee declined by 9 paise to close at Rs 76.52 against the dollar.
Sensex rises further, opens up 64 pointsToday the stock market opened with great momentum. Today, the BSE Sensex opened with a gain of 63.69 points at the level of 57039.68 points. On the other hand, the Nifty of NSE opened with a gain of 23.90 points at the level of 17093.00 points.
All India Weather Forecast for May 04, 2022Weather systems made across the countryA Western Disturbance is over Western Himalayas and another Western Disturbance is over North Afghanistan.The induced cyclonic circulation is over central Pakistan and adjoining parts of Punjab.A trough is extending from a cyclonic circulation over Central Pakistan and adjoining Punjab to Sub-Himalayan West Bengal across Uttar Pradesh and Bihar.Another trough is extending from Central parts of Uttar Pradesh to Rayalaseema across East Madhya Pradesh, Vidarbha and Telangana.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over West Bengal, Northeast parts of Bihar, Assam and Arunachal Pradesh.Light to moderate rain occurred over Sikkim, North East India and North Coastal Andhra Pradesh.Light rain occurred over Lakshadweep, Kerala, Interior Tamil Nadu, Chhattisgarh and Vidarbha, Madhya Pradesh, central parts of Uttar Pradesh, southeast Rajasthan and parts of Jammu and Kashmir.Heat wave conditions persisted over isolated parts of North Rajasthan and South Haryana.Probable weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls is likely over Northeast India, West Bengal, Sikkim and Andaman & Nicobar Islands.Light to moderate rain is possible over West Bengal, Bihar, Odisha, Chhattisgarh and Western Himalayas.Moderate rain with one or two places is possible over East Uttar Pradesh, Kerala, Interior Tamil Nadu and South Karnataka.Light rain is very likely over parts of North Interior Karnataka, Andhra Pradesh and Telangana.Light rain and thundershowers may occur over parts of Punjab, Haryana, Delhi, North Rajasthan and West Uttar Pradesh.
Cotton arrival figures revealed, arrivals decreased by 27 percent compared to last yearThere are constant speculations about the arrival of cotton but the situation is still not clear. How much more arrivals are yet to come in the season, it can only be guessed. But, so far in the season 2021-22, how much has arrived from October to April. We are telling you through this news the exact figure of how much cotton has come in which state and what is the difference in arrival this time compared to last year. We all know that there has been a lot of decline in the arrival of cotton this season. If we look at the figures, there has been a decrease of 27 percent in the total arrivals in India between October and April in 2021-22 as compared to 2020-21.South Zone was behindSouth Zone, an important area of cotton arrival, was at the back of the race this time. Last season, the arrival of 87,35000 bales was registered, whereas this year only 55,06,600 cotton bales have been recorded. Which is 32,28,400 bails i.e. 37 percent less than the last season. Last season's arrivals in North Zone stood at 63,81,000 and this time 44,07,300 bales came here. A decrease of 19,73,700 bales i.e. a difference of 31 percent was recorded here. Talking about the Central Zone, where 1,80,25,000 cotton bales were recorded last year in the Central Zone, this time the arrival of 1,42,64,000 has been recorded so far. Which is 37,61,000 less. This difference in percentage is 21 percent.Madhya Pradesh is better than other statesIn comparison to other states, the arrival of cotton in Madhya Pradesh is still better. The least difference in arrivals has been seen here when compared to the previous season. The arrival here has come down by only 9.48 percent. Which is the lowest among other states. Whereas Tamil Nadu has been a state where a huge difference has been registered in arrivals this season. Compared to 2020-21, the total cotton arrival here in 2021-22 has been 56.25 percent less. Besides, Punjab, Haryana, Telangana, Orissa and Andhra Pradesh have also registered a decrease of more than 30 percent in cotton arrivals.
The stock market fell on the first day of the trading week, the Sensex fell by 85 points and reached 56975.99at the level of. Rupee weakens again against dollar, with a decrease of 9 paise on Monday, the price was 76.52. A day before Akshaya Tritiya, gold prices declined by Rs 734 to Rs 51,020. Cotton physical market remained stable for the third consecutive day, no sale or purchase took place. Indian oil and seed market also remained stable, while US oil and seed market fell sharply
A stormy rise in the price of yarnSSM Mills announced a significant increase in the prices of cotton yarnSri Saravana Mills Pvt. Ltd., a well-known Spinning Mill located in Tiruppur, South India. has made an important announcement regarding the prices of yarn. Milske officials have informed that the price of cotton yarn has increased by Rs 40 per kg. Actually, the price has increased by 100% cotton knitting yarn count. Based on these increased prices, some industry experts have also launched new estimated ratelists. According to this rate list, the rates for different counts of yarn range from about Rs 407 to Rs 465. It is clear that due to increase in the prices of yarn, the cost of garment manufacturer will increase. Have a look at the increased rate list-
Today evening, the rupee depreciated by 9 paise to close at Rs 76.52 against the dollar.Sensex closed down 85 pointsToday the stock market closed with a fall. Today, where the Sensex fell by about 84.88 points, closed at the level of 56975.99 points. On the other hand, Nifty closed at the level of 17069.10 points down by 33.40 points.
The stock market started on the red mark, Sensex fell more than 480 pointsOn the first trading day of the month of May i.e. on Monday, May 2, the stock market opened with a big fall. The stock market started on the red mark on the first trading day of the week amid weak
Know how this fortnight was for textile investors:A look at the stock report of major textile companies from 18 to 30 AprilThe stock market has seen ups and downs almost every day in the month of April. One day the Sensex is down and the next day there has been a tremendous increase in the Sensex data. Many times the market has changed a lot in a single day. Such a situation of confusion has also taken investors by surprise. If we look at the report of the last 15 days, then there has been a lot of volatility in the shares of the major companies of the textile segment. However, the market cap of most of the companies has remained negative. Let's know BSc
Three lakh bales of cotton soon to arrive India post the duty removal announcement.Immediately after the government declared the duty free import of cotton, some of large mills have ordered around 3 lakh bales. Each bale is 170 kg and will probably arrive India by mid-June from US. The mill owners have bought mainly the short staple cotton which is 27.5 mm length. As per the sources, the deals were closed at Rs. 89,000/- per candy (356 kg each FOB). Commonly, Indian cotton industries consume medium staple cotton which measures 28.5 mm length. Short staple cotton can be used in similar ways when blended with medium staple cotton. Although, as of now it is uncertain that whether the import deals proves beneficial financially for mill owners or not because we are unaware of the Indian market in mid-June, but at the same time the import has surely brought availability of crop to the market.Traders also asserts that the decision is good and welcomed, however delayed. If it had come earlier say in February, industrialists must have imported approximately 40 lakh bales. But it came in mid-April which couldn’t fulfil the shortfall in domestic market. Now, the estimated arrival is merely 10-12 lakh bales by September current year.Nevertheless, mills are importing cotton just to regulate the chain and supply. Also, on the flip side thin demands from weaving and garment industry doesn’t allow spinners to import expensive cotton.
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Government also has hope from cotton, encouraging farmers to cultivate cottonGovernments of various states engaged in promoting cotton farming, cotton is being recognized as a profit making cropThe unimaginable rise in the price of cotton has attracted everyone. Be it farmers or traders or the government, all are looking at cotton as a profit making crop. Many farmers are leaving their traditional farming and turning to cotton farming. Governments are also promoting cotton as a profit making crop at their level. Recently, the Telangana government has prepared an incentive scheme for farmers to plant 70 to 75 lakh acres of cotton in the coming Kharif season, which will be about 35 lakh acres more than paddy. . Along with this, the Telangana government is trying its best to ensure that the farmers do not face any shortage of fertilizers or seeds for the cotton crop.Sowing is dependent on monsoonTelangana Chief Minister K Chandrashekhar Rao has given green signal to the crop plan prepared by the Department of Agriculture and Horticulture for the upcoming Kharif season. And directed the Agriculture Department to make the farmers aware about the cultivation of profitable crops especially cotton. Agriculture Department's M Raghunandanarao has confirmed that this time 70 to 75 acres of cotton will be promoted in Telangana, although the actual sowing will also depend on the monsoon. If the rains are early and good, the chances of a good crop can increase. This time in Telangana, cotton is being encouraged more than paddy, as cotton prices have reached a record high of Rs 13,000 per quintal this season.Telangana cotton demand in international marketApart from Telangana, awareness campaigns are being run by the government to cultivate cotton in Haryana, Punjab, Maharashtra, Orissa and Madhya Pradesh. In order to promote indigenous cotton, the Haryana government is providing incentives up to Rs 3,000 per acre to the farmers, while the Punjab and Haryana governments are running awareness campaigns to save the cotton crop from pink bollworm disease. One of the reasons for promoting cotton cultivation in Telangana is that the demand for cotton in the international market is very high.
Today evening, the rupee strengthened by 6 paise to close at Rs 76.42 against the dollar.Today the stock market closed with a fall.Today, where the Sensex closed at a level of 57060.87 points, down by about 460.19 points. On the other hand, Nifty closed at the level of 17102.50 points down by 142.50 points.