▫️RBI hiked repo rate by 50 bps to 5.90% and kept inflation target unchanged at 6.7%.
▫️The US imposes strict sanctions on Russia over Ukraine annexation.
▫️Monsoon rains this season were 6.5% above normal.
▫️Tax collection slowed down by 8% during August.
▫️Infosys likely to announce share buyback with 2Q earnings.
▫️ Government hiked domestically produced natural gas price by 40% in line with the rise in international gas prices.
▫️ Core sector grew by 3.3% in August.
▫️Air India is seeking $1 billion fundraising for expansion.
▫️ Vodafone Idea is in talks with Indus Towers seeking softer payment terms for its pending dues.
▫️2W and Real Estate most likely to get affected by hike in interest rates.
▫️PM launched 5G services in the country. Airtel is now offering 5G services in 8 cities. Jio to start 5G offerings from Diwali and Vodafone Idea has not given any timeline for the same.
▫️Jet fuel price has been reduced by 4.5%. Commercial LPG rate reduced by Rs 25.5/cylinder.
▫️ September auto sales showed record growth with Maruti Suzuki leading the growth.
▫️ Reliance Jio to launch 5G enabled laptop at attractive price of Rs 15,000.
▫️ Centre has reduced windfall tax on domestically produced crude by 24%.
▫️ Government may take decision to curb import of non-essential goods to support falling Ruppee.
▫️ India’s current account deficit touched 4 year high of 2.8% in Q1FY23.
▫️Total energies to sell part of its stake in Adani Green.
▫️SEBI allowed foreign investors to trade in commodity derivatives.
▫️ Mandatory 6 air bags proposal for cars has been deferred by 1 year.
▫️ Blackstone to raise mega Real Estate Investment Trust in India.
▫️Adani Enterprises received Rs 10,000 crore funding for development of Ganga Expressway.
▫️Centre hiked interest rates by 10-30 bps for small savings schemes.
▫️ Centre cuts its borrowing target for H2FY23 by Rs 10,000 crore.
▫️India a star among emerging economies with 7.3% growth: S&P
▫️Hero joined hands with US based e-bike maker Zero.
▫️ Adani commissioned world’s largest wind solar plant of 600 MW in Jaisalmer Rajasthan.
▫️US economy shrank by 0.6% during April-June period.
▫️US jobless claim fell to 5 month low last week suggesting strong labour market.
▫️ Domestic gas price to be revised tomorrow, a significant hike is expected on account of sharp rise in international gas price.
▫️ Yield on treasury bills moved up by 15-30 bps, indicating similar rate hike by RBI tomorrow.
▫️Centre extended the free foodgrain scheme for population below the poverty line by 3 months.
▫️MSMEs demand for capital increased as the enterprises stock up for festive demand.
▫️SBI filed for insolvency proceedings against Jaiprakash Associates.
▫️ Outstanding credit cards reduced by 23 lakhs in August due to RBI norm of deactivating inactive credit cards from July 1.
▫️ Strengthening dollar has led to fall in gold price to 30 month low.
▫️Indian Potash Ltd, Coromandel International and Chambal Fertilizer have signed pact with Canadian firm for import of 1.5MT of potash for next 3 years.
▫️Centre approved Rs 10,000 crore investment for redevelopment of railway station in Mumbai, Delhi and Ahmedabad.
▫️Tata is set to disrupt EV market with launch of cheapest EV at Rs 8.8 lakhs.
▫️ Demand for 3BHK has outpaced 2BHK for the first time in 1H22.
▫️Realty firms are buying land parcels as inventory levels drop.
▫️Nykaa to consider issue of bonus shares.
▫️User readiness for 5G in India is amongst the highest in world: Ericsson
▫️Jet Airways’ plan to fly again is getting deferred due to delay in signing aircraft and engine lease agreements.
▫️Road Ministry has extended the timeline for EV makers to adopt to new safety standards for battery manufacturing.
▫️ Railways to resume busy season freight charge of 15% from October 1.
▫️ Torrent Pharma to acquire Chennai based leading Dermatology company Curatio Healthcare for Rs 2,000 crore.
▫️Adani Group to invest more than $100 billion in next 10 years, primarily in the energy transition sector.
▫️ Birla Corporation to invest $1 billion to ramp up capacity to 30 MT by 2030.
▫️Footwear and Apparel companies estimate double digit sales growth this festive season.
▫️Net direct tax collection has increased 23% in this fiscal year so far.
▫️PM to launch 5G services of Airtel and Jio on October 1.
▫️LIC has increased its stake in BPCL from 7% to 9% in last 9 months.
▫️ CredAvenue partnered with SBI to boost its co-lending portfolio.
▫️ Reliance retail launched its fashion and lifestyle departmental store Reliance Centro.
▫️ Muthoot finance signed an agreement with UAE based Lulu International Exchange to work as its collection partner.
▫️SEBI is investigating top investment banks for possible disclosure failures.
▫️Ruppee slided sharply and touched all time low of 81.65 against dollar.
▫️ Property developers to hike property prices by 10-15% due to high input costs.
▫️ Tata Motors continues to plan to invest Rs 2,000 crore in commercial vehicle business annually.
▫️Infosys opened digital centre in Canada and will hire 1,000 people.
▫️Airtel forays into home surveillance business in 40 cities.
▫️ Vodafone Idea and EESL will install 50 lakh smart meters in Uttar Pradesh and Haryana.
▫️Crude oil prices touched 9 month low due to recession fears and stronger dollar.
▫️ Japanese currency Yuan touched 28 year low.
▫️ Motherson Sumi to fully acquire mirror business of Japanese firm Ichikoh Industries for Rs 300 crore.
▫️PVR has planned Rs 350 crore investment for 100 new screens.
▫️Aon has predicted average salary hike of 10.4% in 2023.
▫️ Auto dealers are expanding their outlets as demand spikes.
▫️BPCL to incur oil marketing losses this fiscal year: Fitch
▫️Hero Electric to set up Rs 1,200 crore EV unit.
▫️Amara Raja batteries is going for backward integration and will merge its plastic component business with itself.
▫️Tata Group may go for organisation simplification, and half the number of listed companies.
▫️Gaming firm Gamekraft Technology got Rs 21,000 crore GST notice.
▫️The Information & Broadcasting ministry has objected the inclusion of OTT and broadcasting services as part of telecommunication service.
▫️ Finance Ministry likely to put cap on food subsidy expenses.
▫️ Government to relax 2 criteria for the upcoming textile PLI scheme.
▫️ Suzlon to raise Rs 2,000 crore via rights issue.
▫️RBI likely to hike interest rate by 50 bps on September 30.
▫️ Automobile manufacturers are struggling to meet deadlines related to safety due to lack of resources.
▫️India to receive record $100BN FDI in FY23.
▫️Centre has asked PSBs to improve recovery mechanism of defaulted loans.
▫️BPCL signed agreement with Brazil’s Petrobras to source crude oil from Latin American countries.
▫️Tata Steel approved merger of six subsidiaries with itself which includes Tinplate and Tata Metaliks.
▫️Brent crude fell below $87.
▫️ India’s forex reserve fell to 2 year low.
▫️Ruppee breached 81 mark against dollar for the first time.
▫️Wipro announced salary hike for 96% of employees.
▫️Coal India inked pact for four gasification projects.
▫️RIL bought 20% stake in the US solar firm.
▫️ Sterling and Wilson received $1.5 BN solar project from Nigeria.
▫️Metal prices fell due to global recession fears.
▫️Bank of England raised interest rates by 50 bps to combat inflation, despite looming recession fears.
▫️SEBI to widen disclosures on IPO pricing.
▫️RBI directed M&M to stop any third party loan recovery mechanism.
▫️IT major Accenture forecasted tepid revenue growth of 8-11% for FY23. This could negatively impact the results of Indian IT companies.
▫️ Softbank slashed valuation of OYO by 20%.
▫️ Railways laid 1,353 kilometre of new tracks in FY23.
▫️Edible oil prices likely to be stable in short term. Government aims at reducing import of edible oil by 25-30%.
▫️Hero Moto hiked 2W prices by Rs 1,000.
▫️The US Federal Reserve hiked benchmark rate by 75bps to 3.25% in line with the street expectations.
▫️Wipro fired 300 employees who working simultaneously for other companies.
▫️ Liquidity in the banking system turned in to deficit for the first time after 40 months mainly due to advance tax outflows and rate hikes.
▫️Apple likely to manufacture 25% of its total phones in India by 2025.
▫️DGCA extends 50% ban on Spicejet flights till October 29.
▫️ITC hotels signed up for 5 new properties.
▫️ Government approved 2nd tranche of Rs 19,500 crore Solar PLI Scheme.
▫️ Government to provide 50% incentive for semiconductor manufacturing.
▫️Asian development Bank reduced growth forecast by 50 bps to 7.00%.
▫️SP Apparels to buyback shares at Rs 585/share.
▫️ Amazon to set up its first solar plant of 420 MW in India.
▫️Iron ore exports plunge 60% in August.
▫️ Transport safety board has issued draft guidelines for car markers to install mandatory rear seat belts with alarm.
▫️RBI to infuse Rs 50,000 crore in the banking system to avoid liquidity deficit.
▫️Cabinet cleared logistics policy to focus on cost cuts.
▫️Power Finance Corporation to divest stake in REC.
▫️ India’s mineral output dipped 3.3% in July.
▫️Global recession unlikely to impact India: S&P
▫️ Reliance Retail is looking to acquire India rights of the beauty brand Sephora.
▫️ Volkswagen to hike car prices in India by 2%.
▫️ Luxury homes rent went up to 18% in the last 2 years.
▫️Adani Group $13 billion shares of ACC and Ambuja in favour of lenders.
▫️Central Bank has been taken out of the Prompt Corrective Action Framework: RBI
▫️Honda to roll out electric moped.
▫️ Government is working on common KYC for all financial services and transactions.
▫️ Retail inflation for farm and rural workers increased in August.
▫️ India’s rice export to fall by 25% due to ban on shipment of broken rice and 20% export duty imposed on certain varities of rice.
▫️M&M to buy Swaraj Engines in Rs 296 crore deal.
▫️Spicejet sent 80 pilots on leave without pay.
▫️Hero and HPCL to set up e charging infrastructure.
▫️Titan to foray into smart eyewear products.
▫️M&M to double its SUV production.
▫️Vistara and Air Asia to come under Air India brand by 2024.
▫️Fed rate hike decision tonight. Markets to remain volatile.
▫️Adani to double cement making capacity of Ambuja and ACC to 140 MT in 5 years.
▫️Ola laid of 200 engineers from software business.
▫️RBI rejected bank’s request to allow them flexibility in recording mark to market losses in balance sheet.
▫️Oil ministry main exempt hydrocarbon blocks from windfall taxes. ONGC and Cairn to benefit from this decision.
▫️SBI to limit dollar exposure in Bangladesh due to forex crisis in the country.
▫️ Vedanta’s semiconductor chip won’t hit its liquidity: S&P
▫️US forces to defend Taiwan if China invades: Joe Biden
▫️ Crude oil fell more than 2% on demand fears.
▫️Adani Green Energy commissions 325-MW wind power project in MP.
▫️Banks may increase deposit rates to attract savings, as there is strong demand for credit: India Ratings