News Roundup: 25/2/2022



▫️Russia declared full fledged attack on Ukraine.

▫️As a result, Indian benchmark indices fell by nearly 5% amid fears of rising crude oil and base metal prices.

▫️ Crude oil tops $105/barrel.

▫️ Indian retail fuel prices to hike significantly after the end of elections on March 7.

▫️Fuel price hike will hurt the price sensitive 2-Wheeler segment the most.

▫️Market crash may hinder the LIC IPO. However, government says LIC IPO is on track.

▫️Shipping costs may further rise, due to escalated geopolitical tensions.

▫️Indian government assured that they have comfortable fiscal space and alternative options for import of oil.

▫️India paid Rs 7,900 crore to Cairn India, in settlement of retro tax dispute.

▫️ Moody’s raised India growth forecast to 9.5% for FY22.

▫️ Government pushed 5G launch by August 15.

▫️HUL announced seperation of position of CEO and Chairman, in an attempt to strengthen its corporate governance standards.

▫️Jeep to bring premium SUVs in India.

▫️Airtel purchased stake in Blockchain tech startup Aqilliz.

▫️ Vedanta has launched low carbon aluminium brand.

▫️Wipro to open office in Brazil and hire 500 techies.

▫️Cadila Healthcare to be renamed as Zydus Lifesciences.

▫️Ola Electric plans 50GWh battery plant in India.

▫️IPL to start from March 26.

▫️Russia to face severe economic sanctions from NATO countries, as a result of its aggression against Ukraine.

▫️ Resultantly, Russian stock market fell as much as 45% intra day.

▫️Indian ruppee fell by 99 paise to 75.60 against dollar due to elevated geo political tensions.

▫️ Gold prices also touched 17 month high of Rs 52,797, as investors rushed to the safe heaven asset.

▫️Indian almunium exporters Nalco, Vedanta and Hindalco will benefit from the higher prices.

▫️SEBI postponed new margin rule implementation to May 2.

▫️ Government is aiming at 5% share in 3D printing global market.

▫️ RBI Governor announced inflation data shows room to maintain the accomodative stance.

▫️2W prices to rise 16-22% in 2 years.

▫️ Fitch ratings expects banks near term performance to improve gradually.

▫️Air India may order mutliple jets from Boeing and Airbus.

▫️ Induslnd Banks in talks to acquire IDFC Mutual Fund.

▫️Maruti Suzuki claimed that they can catch up in the EV space, even though they are not the first player.

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