News Bulletin: 11/8/22

▫️ Government has decided to end domestic airfare cap from August 31 onwards.

▫️ RBI issued strict norms for digital lending ecosystem.

▫️JSW Energy acquired Mytrah Energy’s 1,753 MW renewable energy portfolio for Rs 10,530 crore.

▫️India and EU to hold free trade agreement talks in October.

▫️ Government has extended its flagship housing program i.e. PMAY till 2024.

▫️ India is expected to be Asia’s strongest economy in FY23: Morgan Stanley

▫️ Hindalco earned all time high profit of Rs 4,119 crore in June quarter.

▫️ Small cars market share continued on decline mode and reached single digit in. FY22.

▫️ LIC offloaded 2% stake in M&M for Rs 2,222 crore.

▫️JSW Group has partnered with ElectricPe to set up EC charging infrastructure across its office network.

▫️Tata Power has joined hands with JP Infra to set up 60 EV charging facility across its projects.

▫️US inflation remained flat on month on month basis in July, due to low energy prices.

▫️ China’s factory inflation reached 17 month low in July .

▫️ Icra may lower credit ratings on Rs 35,000 crore of debt, after guidance by RBI. Power, healthcare and infrastructure debt to be most affected.

▫️ Vedanta plans capex of $3 billion in 2 years.

▫️ Brent Crude Oil price fell below $95 on supply boost.

News Bulletin: 10/8/22

▫️India is seeking to restrict Chinese smartphone makers from selling devices cheaper than Rs 12,000, to support domestic smartphone makers.

▫️SBI to onboard 100 million customers to its mobile app YONO.

▫️ Mutual funds inflows dip 43% in July, as investors choose to book profits.

▫️ Electricity bill introduced in Loksabha, which seeks to allow customers to choose their electricity provider.

▫️FMCG companies expect 15-20% volume growth this season.

▫️ Apollo Hospitals acquired a Gurgaon based hospital asset for Rs 450 crore.

▫️ Jio has completed 5G coverage planning across 1,000 cities.

▫️US Senate approved bill to fight climate change and reduce drug prices.

▫️Indian smartphone market grew by 3% in Apr-Jun quarter.

▫️Job demand remained flat in July amidst recession fears.

▫️Softbank posted huge loss in June quarter, which may led to lower funding for Indian startups.

▫️ India’s wheat reserve fell to 15-year low.

▫️ Textile industry is eyeing festive season for revival.

▫️Airtel ready for 5G launch, eyes PAN India coverage by 2024.

▫️Uber to focus on improving service in India.

News Capsule: 8/8/22

▫️ Supreme Court provided interim relief to Reliance and asked SEBI to act fairly in the alleged irregularities between 1994-2000.

▫️ED freezed assets of WazirX on money laundering charges.

▫️ RBI hiked repo rate by 50bps to 5.40% and kept inflation and GDP rate unchanged.

▫️US job market surged in July, defying the recession fears.

▫️HDFC raised $1.1 billion funds to boost affordable housing lending.

▫️India received above normal rainfall since onset of monsoon.

▫️ Jagdeep Dhankar elected as Vice President of India.

▫️Banks have raised interest rates following hike in repo rates.

▫️PM asked states to modernize agriculture and opt for crop diversification.

▫️ Maruti looks to produce 2 million cars in FY23.

▫️States capex slowed down by 9% in Apr–Jun quarter.

▫️ Shipping lines to face margin pressure as freight rates fall (-ve for SCI).

▫️ Rice yield to fall by 8% this season due to poor weather conditions.

▫️ FPIs bought Rs 14,000 crore shares in 1st week of August.

▫️PM to roll out 3 health schemes on August 15.

▫️HAL to make drones for high altitude strategic surveillance.

▫️Tata Motors to acquire Ford Motors plant in Gujarat at Rs 726 crore.

▫️CCL to establish new modern instant coffee manufacturing facility at Rs 320 crore in Andhra Pradesh.

▫️ LIC reduced stake in Maruti and Bharat Dynamics.

News Bulletin: 5/8/22

▫️ Revenue department is likely to abolish 10% TDS on large loan waivers, giving relief to Banks.

▫️40% import duty on wheat is expected to get scrapped.

▫️E-way bills generated in July jumped by 18% year on year.

▫️IT revenue growth may slowdown in 2nd half of the year, as corporations cut spendings to save cost.

▫️Edible oil manufacturers agreed to further lower down the prices by Rs 8-10/ litre.

▫️IMF advised India to gradually withdraw fiscal and monetary stimulus and develop export infrastructure for long term growth.

▫️REC granted Rs 22,000 crore debt to power distribution companies.

▫️Tiger Global offloaded 2.34% stake in Zomato.

▫️ Government to allocate 5G spectrum by August 12.

▫️Adani to buy toll roads of Macquarie in Andhra Pradesh and Gujarat for Rs 3,110 crore.

▫️ Infrastructure companies are seeing their order book at record levels, reflecting strong signs for Indian economy.

▫️ RBI likely to raise interest rates by 25-30 bps today.

▫️Bank of England raised interest rate by 50 bps to 1.75%, highest in 27 years.

▫️US trade deficit fell 6.2% to $79.6 billion in June.

▫️Walmart to cut 200 corporate jobs and Credit Suisse to slash thousands of jobs to cut their costs.

▫️ Axis Bank to wind up its UK subsidiary and operations.

▫️ Government likely to reduce export duty on steel exports as steel prices ease out.

▫️Crude oil prices fell below $90 for the first time since Russia Ukraine crisis.

▫️Large outflows seen in Gold ETFs.

News Bulletin: 4/8/22

▫️ Spicejet is in talks with Middle East airline company and an Indian conglomerate for potential stake sale and fund raising.

▫️ Service sector dipped to 4 month low in July possibly due to dented demand and high costs.

▫️Uber exited Zomato via Rs 3,087 crore block deal.

▫️ Government withdrew personal data protection bill.

▫️Airtel partnered with Samsung, Ericsson and Nokia for 5G deployment.

▫️OPEC+ countries agreed for small increase in crude oil output from September onwards.

▫️ India’s trade deficit could narrow from August onwards supported by falling crude oil prices and sharp recovery in Ruppee.

▫️CII suggested government to cut personal income tax rates.

▫️ Government approved 5% hike in sugarcane prices to be paid to farmers.

▫️ Following this, sugar mills urged government to increase MSP of sugar from Rs 31 per kg to Rs 36-37 per kg.

▫️ Acuity Knowledge Partner to open its third center in Pune and hire 800 people.

▫️ISS India to increase hiring by 25-30%.

▫️ Ramco Cements plans to boost growth in the US defence segment.

News Bulletin: 3/8/22

▫️China plans targeted military exercise, against the US parliament speaker visit to Taiwan.

▫️Uber may exit 7.8% stake in Zomato through block deal in today’s trading session.

▫️Jio to have edge over Airtel on 5G network coverage thanks to its purchase of 700 MHZ band in the spectrum auction.

▫️ Consumption growth led to aggressive capacity expansion by consumer firms. Mahindra Holidays to add 400 rooms every year, Asian Paints added 5,000 retail outlets in last 3 months, Shoppers Stop opened 6 stores in Mar-June quarter and Dmart added 10 new stores during last quarter.

▫️ Government reduced windfall tax on diesel exports and scrapped completely on jet fuel exports (RIL to be benefited).

▫️IRDAI proposed a 30% cap on management expenses of Indian insurance companies.

▫️Indian service sector is likely to defy recession in the US and EU, and grow aggressively in FY23.

▫️ Merchandise imports jumped 43.6% in July to $66.3 billion.

▫️ India’s tax base continued to remain narrow as only 1% of the entire population pays income tax.

▫️ Unemployment lowest in 6 months at 6.80% in July.

▫️ Government allowed extra 1.2 MT of sugar exports.

▫️ Food Ministry wants further drop in edible oil prices.

▫️Spicejet clears all dues to Airport Authority of India.

▫️ Uber turned cash flow positive first time in Mar-June quarter.

▫️ Foreign banks’ Indian bond purchase at 2.5 year high in July.

▫️Adani Enterprises is likely to become part of Nifty50 index.

▫️ Living standard of 44% of Indians improved in last 5 years.

News Bulletin: 2/8/22

▫️WTI Crude Oil slipped below $95, as China industrial output weakened.

▫️ India’s manufacturing activity jumped to 8 month high in July.

▫️Auto industry recorded highest ever wholesale passenger vehicle dispatch of 342,326 units which was backed by economic recovery and ease in semiconductor availability.

▫️ Government collected Rs 1.49 trillion GST in July (second highest ever).

▫️Jio emerged as the top 5G bidder in spectrum auction at Rs 88,078 crore, followed by Airtel at Rs 43,084 crore, VI at Rs 18,799 crore and Adani at Rs 212 crore.

▫️IMD predicted normal monsoon during August – September.

▫️FPIs investment in Indian equities turned positive in July after 9 months of consecutive outflow.

▫️ India’s power consumption grew by 3.8% in July.

▫️Petrol and diesel sales dipped in July as onset of monsoon restricted the mobility.

▫️OMCs have reduced jet fuel prices by 12% and LPG cylinder by 1.5%.

▫️ITC posted 41% jump in revenue and 38% growth in net profit for Q1, beating street expectations.

▫️The US manufacturing activity expanded at slowest pace in 2 years in July.

▫️ Chinese real estate slowed down is expected to lead to $350 billion losses for Chinese banks.

▫️ Pakistan may similar crisis like Sri Lanka, as inflation in Pakistan peaked to 24.93% in July.

▫️The US is considering to limit shipments of American chip making equipment to memory chip makers in China.

▫️Ruppee strengthened by 18 paise against dollar to 1 month of 79.06.

▫️ Property registrations surged 15% in Bombay Municipal Corporation in July.

▫️IT-BPM sector is expected to add 300,000 jobs by March 2023.

News Bulletin: 1/8/22

▫️PE firms Carlyle and Advent to invest $1.1 billion in Yes Bank for 10% stake each.

▫️Ruppee regained some of its lost ground and closed at 79.26 in the last trading session.

▫️ Amazon moved to Supreme Court on Future Retail deal.

▫️Share of SUV in total passenger sales jumped to 41% in FY22.

▫️Core sector growth slowed to 12.7% in June from 19.3% in May.

▫️Limited risks for India from Covid curbs in China: Fitch

▫️Ola electric and Reliance Industries to manufacture batteries under PLI scheme.

▫️ India sales doubled for Apple in FY22.

▫️Kalpataru Power bagged railway electrification order worth Rs 1,842 crores.

▫️Ashok Leyland to invest $200 million in 2 years for EV.

▫️Indian stock market posted 8.5% return in July.

▫️ Inflation in Europe touched record high of 8.9% in July.

▫️Centre urged states to clear dues of power distribution companies worth Rs 2.5 trillion.

▫️ Mahindra’s new Scorpio received 1 lakh bookings in 30 minutes.

▫️China announced military exercise near Taiwan.

▫️RBI likely to hike repo rate by 35-50 bps in this week’s policy meet.

▫️Centre has reduced States’ borrowing limit by Rs 41,000 crore.

▫️Monsoon above normal so far: Met

▫️Centre sanctioned special Rs 20,000 capex loans for infrastructure development to States.

▫️ Chinese factory activity sees decline in June.

News Bulletin: 29/7/22

▫️ Telecom companies fought aggressively to get spectrum license for tier 2 & 3 cities, in the ongoing auction.

▫️ Global and Indian markets rallied after Fed’s soft tone on rate hikes.

▫️US economy growth rate fell for 2nd straight quarter as the Country’s GDP contracted by 0.9% during April-June period.

▫️Auto industry to come up with very little discount this festive season.

▫️Adani Capital is planning for bumper $2 billion IPO in 2024.

▫️ Banking system liquidity dropped below Rs 50,000 crore as RBI took inflation control measures.

▫️Two unlisted companies Parle and Amul, scored highest in the Indian FMCG race.

▫️ Government is planning to build 11 million tonne food grain storage capacity in 33 locations at cost of Rs 9,200 crore.

▫️ Manufacturing sector got $21 billion foreign direct investment in FY22.

▫️Tea exporters are making windfall gain as Russia stepped up imports of tea from India.

▫️Centre may allow private mining companies to extract lithium for batteries.

▫️ Macrotech Developers inked Rs 6,400 joint venture deal to develop housing projects.

▫️ Nestle India to acquire pet food business of Purina Petcare.

▫️IOC to invest Rs 564 crore in West Bengal in FY23.

▫️ONGC to invest $6.2 billion in green energy.

▫️Mastercard profit beated all estimates on strong travel bookings globally through credit cards.

▫️Ethihad Airways posted record profit on sharp travel revival.

▫️Whereas, Facebook recorded first ever revenue decline in the history.

▫️Bajaj Finserv to issue bonus shares in the ratio of 1:1.

▫️ Banking industry is experiencing strong credit growth of 13.46%.

▫️Consumers are visiting stores more, but buying less: FMCG Survey

News Bulletin: 28/7/22

▫️The US Federal Reserve increased its base rate 75 bps, in an attempt to fight inflation.

▫️ DGCA imposed ban on 50% scheduled flights of Spicejet for 8 weeks.

▫️BSNL gets new support package of Rs 1.64 trillion from Centre.

▫️ Both Maruti Suzuki and Tata Motors Q1 results missed analysts expectations.

▫️Bharat Forge to make high speed trains with Talgo Joint Venture.

▫️Google launched street view in India on Google Maps.

▫️Mandi wheat prices hits record high i.e. 14% above minimum support price as traders stock the grain.

▫️BPCL gets government approval to invest $1.6 billion in Brazil oil block.

▫️MapmyIndia to invest in geospatial mapping.

▫️Tata Steel signed MoU for drone based mining solution.

▫️Zomato gets investors approval for Blinkit deal.

▫️Russia reduced gas supply from its Nord pipeline to Europe.

▫️Chinese President Xi, first time admitted that China is facing complex challenges on both domestic and international front.

▫️Joe Biden and Xi to speak today as China US relation worsens.

▫️South Korea reported more than 100,000 daily Covid cases.

▫️ Both Microsoft and Google reported weak results for Apr-Jun qaurter.

▫️Strong order book of L&T, reflects government’s sharp focus on infrastructure development.

▫️TCS signed multi-million dollar deal with British retailer Marks & Spencer to transform their human resource operations.

▫️Titagarh Wagons plans to invest Rs 1,000 crore in 5 years.