Weekend News Update 19/09/21

▫️RIL, Adani Group and Tata Power bid for solar equipment manufacturing PLI scheme.

▫️ GST of 5% now levied on food delivery services offered by Swiggy and Zomato.

▫️ Serum Institute of India (largest vaccine manufacturer) will buy 15% stake of Biocon’s subsidiary: Biocon Biologics.

▫️Indian government bonds may soon be part of global indices.

▫️ Strong buying by MFs and insurance companies have lowered the corporate bond yields marginally.

▫️Coal India subsidiary commenced 250KW solar power project.

▫️Serum Institute of India to supply 200 million doses from October.

▫️TCS to set up ₹690 crores innovation park in Kochi.

▫️ Wipro in collaboration with Google launched Cloud Innovation Arena in Bengaluru.

▫️Smart TV sales jumped by 65% in June 2021, quarter.

▫️ Reddington India wil offer latest launched Iphones in over 3500 locations across India.

▫️ Securitization volumes have picked after the June 2021 quarter due to healthy collections (+ve for NBFIs)

▫️US consumer sentiment data for early September came weak.

▫️Local Petrol Diesel rates may rise after surge in International Oil prices.

▫️Airlines can now operate at 85% capacity (previous 72.5%).

▫️Ola e-scooter sales reached ₹1,100 crores in 2 days.

▫️IDFC gets approval to divest their asset management business.

▫️JM Financial to raise ₹500 crores via NCDs.

▫️ Vodafone needs to pay ₹9,000 crore of bank loans by Mar22. The company is looking to raise ₹15,000 to ₹20,000 crores to honour its maturing debt.

▫️India’s computer shipments reached 5-year high of 4.1 million units in Apr-Jun’21.

▫️US court scraps off Trump era H1-Visa rule. (+ve for Indian IT firms)

▫️Office space rents witnessing double digit growth in Banglore, Hyderabad and Chennai in recent months.

▫️Interest rates have slowly and marginally increased amid hopes of economic recovery and central banks tightening liquidity.

This post is for educational purposes only.

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