2022 brings excitement in markets after a long lull
   Date :30-Dec-2022

excitement in markets  
 
 
Business Bureau
The calendar year 2022 gave much needed relief to trade and industry as authorities gradually withdrew COVID-19 induced restrictions. Though there was some element of uncertainty in the markets in the first two to three months, markets witnessed gradual improvement in the later months. The number of footfalls jumped drastically in May-June and thus production activities in various industrial units picked up.
The sentiments of the common men, who had set aside the fear of the pandemic during the period, were also high which reflected in the their buying habits. Significant hike in business activities was visible right form the starting of the year. The wedding season in summer pushed up demand for jewellery, garments, grocery and other items.
This followed by the opening of schools after a long gap which further brought new demand for school uniforms and stationary items. It was also seen as a big relief for the schools bus operators and other service providers who incurred heavy losses during the previous academic sessions. The withdrawal of restrictions in the year further brought new opportunities for the trade and industry bodies to celebrate their annual gathering.
Butibori Manufacturers Association (BMA), MIDC Industries Association (MIA), Nag Vidarbha Chamber of Commerce (NVCC), Nagpur Chamber of Commerce Ltd (NCCL), Nagpur Hotel Owners Association (NHOA), and Oil Merchants Association among others celebrated their annual event with great fanfare.
The 9th edition of Global Nagpur Summit 2022 by Nagpur First and other similar events, saw felicitation of champions of trader and industry thereby strengthening the enthusiasm of traders, professionals and industrialists.
Thousands of farmers and others participated in the Agrovision, one of the country’s largest exhibitions. It managed to attract record number of visitors even as it was conducted at a new venue in the outskirts of the city.
Union Minister for Coal and Mines Pralhad Joshi participated in the three-day conference-cum-exhibition related to mines, minerals and metals -‘MINCON-2022’ held here. The Vidarbha Economic Development Council (VED), MM Activ and Maharashtra State Mining Corporation (MSMC) jointly conducted the event.
The city-based Economic Explosives Limited (EEL), a 100 per cent subsidiary of Solar Industries India Limited, on Thursday added another feather in its cap by delivering the first consignment of strap-on boosters called PSOM-XL motor to Indian Space Research Organization (ISRO).
Following the footsteps of Bikaji Foods, country’s renowned brand Haldiram planned to go public. There were reports that two different entities promoted by Agarwal family have planned to join hands. As per the market reports, Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International had initiated the process of merger, seen as an attempt for launching an initial public offering (IPO) in coming days.
Similarly, ZIM Laboratories Ltd, a pharmaceutical company focused on providing innovative drug delivery solutions that provide patient convenience and adherence of drug treatment, was listed on the National Stock Exchange (NSE) in November. Satyanarayan Nuwal, Chairman and Non-Executive Director. added another feather to his cap of achievements as he featured on the cover page of Forbes India magazine.
The Nagpur branch of Western India Regional Council of The Institute of Chartered Accountants of India (ICAI) was adjudged ‘Best Branch of Western Region’ amongst 36 branches of WIRC of ICAI in February.
Even as coal production in the region was at its record high during February-March, consumers cutting across the industries faced severe shortages of the commodity and its prices saw new highs. Thermal coal had witnessed a price range of Rs 9,000 to Rs 12,500 per tonne (including royalty, cess and GST) in the e-auction conducted by WCL in February.
MOIL, a city based Schedule ‘A’ CPSE has recently bagged 3 Five-Star Rating Awards under Sustainability Development Framework (SDF) from Ministry of Mines in 6th national conclave on Mines and Minerals 2022 as part of Iconic Week Celebration organised at New Delhi.