Weekend News Bulletin 03/10/2021

▫️Wholesale dispatches of passenger vehicles slowed down due to chip shortage.

▫️Tata sons is set to take over Air India, more than 50 years after it was taken by govt.

▫️Zee Board Of Directors refuse to conduct EGM and moved to court against Invesco (top shareholder).

▫️RBI ordered Dhanlaxmi Bank to speed up appointment of Board of Directors.

▫️ Manufacturing activities rose at faster rate in September than August.

▫️GST collection rose by 23% in September.

▫️Oyo has filed papers for ₹8,340 crores IPO.

▫️IT Dept. imposed ₹8,334 crores capital gains tax demand on Grasim.

▫️West Bengal and Tamil Nadu reported positive growth in per capita income in FY21, against nationwide fall.

▫️Due to rise in crude oil prices, trade deficit spikes by more than 50% in September.

▫️Jet fuel price increased by 5.8%.

▫️There has been surge i power demand of India, resulting in surged demand of coal. Further, over half of India’s coal based power plants have less than 3 days of inventory left.

▫️RIL extends deadline for Future Deal.

▫️ CEAT raised its stake in online tyre purchase and selling company – Tyresnmore.

▫️ Tech Mahindra to acquire IT Consultancy company – Beris Consulting for ₹60 crores.

▫️TATA Group makes open offer to acquire 26% stake in Tejas Networks for ₹1,038 crores.

▫️ Mahindra Lifespace leased about 15 acres of land to Ashiana Housing.

▫️Indian Bank signed pact with Indiabulls Housing for lending to priority sector.

▫️Merck made Covid antiviral pill has shown high efficacy in trial.

▫️US factory growth highest in 4 months in September.

▫️Euro Zone inflation jumps to 13 year high.

▫️Aditya Birla AMC IPO subscribed by 5.25 times.

▫️ India’s forex reserve down by $997 million to $639 billion.

▫️OPEC+ to release more oil to tackle rising crude oil prices.

▫️ India’s export jumped over 21% to $33.44 billion in September.

▫️Telecom Department has imposed fine of ₹2,000 crores on Voda Idea and ₹1,050 crores on Bharti Airtel.

▫️Truck rentals grew 3-6% in September, due to rising demand.

▫️There has been record number of credit ratings upgrade of Indian companies between Apr-Sep.

▫️ Employment rises by 8.5 million in September, highest in 20 months.

▫️Term insurance prices to rise by 40% as reinsurers have increased their rates.

▫️Kerala to reopen cinemas from October 25th.