Weekend News Bulletin 17/10/2021

▫️ During the month of September, India’s trade deficit touched record high of $22.6BN due to 84.8% jump in imports, partly offset by 22.6% rise in exports.

▫️ Power plants are getting coal on priority, while other industries are suffering due to coal shortage.

▫️ Wholesale price inflation dropped to 6 month low of 10.66% in September.

▫️HCL Technologies posted 3.7% rise in net profit to ₹3,763 crores.

▫️ Govt. has asked state run public insurance companies to cut branches and optimise costs.

▫️Fin Minister in her meeting with American CEOs has offered a spectrum of opportunities for investment in India.

▫️ Govt. has launched PLI Scheme for telecom equipment manufacturing, under which 31 firms will undertake production worth 1.82 lakh crores.

▫️ Domestic passenger vehicles sales slipped 41% in September, due to chip shortage.

▫️Adani Group takes control over the operations and management of Thiruvananthapuram airport.

▫️Dixon Technologies to acquire Bharti Group’s plant for telecom equipment manufacturing under the PLI Scheme.

▫️RIL ranked best amongst Indian Companies in the list of World’s Best Employers.

▫️ Global sustainable infrastructure fund manager Actis to invest $850 million in India in next 5 years.

▫️ Inox wind reporters a loss of ₹57.5 crores for Sep’21 quarter compared to loss of ₹76 crores in Sep’20 quarter.

▫️US Senator wants Break Up of technology giant Amazon, as the company is involved in illegal sales practices.

▫️ China’s producer inflation hit 26 year high of 10.7%.

▫️ LinkedIn to shut down its operations in China.

▫️ Big US Banks reported record profits in the September quarter, beating analyst estimates on all fronts.

▫️US job less claims fell below 30,000 for the first time in 11 months.

▫️ Indian Markets are taking support from record flow of money from MF investors.

▫️PNB Housing terminated stake sale of ₹4,000 crores to Carlyle Group due to legal disputes.

▫️Govt. threatened power companies (Tata Power, Adani Power and Essar Energy) of legal action, if they fail to ramp up production.

▫️ India will set up 500 multi modal cargo terminals under Gati Shakti plan for a investment of ₹50,000 crores.

▫️Inox Theatres to broadcast ICC Men’s T20 World Cup in cinema halls.

▫️Govt. to create 7 new defence equipment manufacturing companies, which will have full autonomy.

▫️India to export 8,424 tonnes raw sugar to US, under tariff quota.

▫️PE investment in real estate rose 24% in Jul-Sep.

▫️ Nomura has assured that Indian stock markets can be resilient to external shocks.

▫️ Reliance Brands to pick up 40% stake in Manish Malhotra’s MM styles.

▫️ Spicejet loses permit to transport dangerous goods including lithium ion batteries for 30 days.

▫️ Indiabulls Real Estate sales bookings jumped 2 fold to ₹834 crores in Apr-Sep.

▫️ Govt. removed export curbs on diagnostic kits amid falling Covid-19 cases.

▫️Coal prices in China sky rocket, as winter hits the country. China is looking at US and Europe for fuel.

▫️ Govt aims to make semi conductors in India by mid 2022.

▫️ HDFC Bank reported 17.6% growth in net profit year-on-year, to ₹8,834.1 crores.

▫️ Rakesh Jhunjhunwala offloads majority stake in MCX.

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