News Bulletin: 28/2/2022

▫️ Inflation may overshoot RBI target, as Russia Ukraine crisis has led to unprecedented rise in oil and gas prices.

▫️ Finance ministry has said economic recovery will be severely impacted by geo political tensions.

▫️Airtel agreed to buy Vodafone’s 4.7% stake in Indus Towers.

▫️Adani Power won the suit against 3 power distribution companies in Supreme Court. The court ordered the distribution companies to pay Adani Power Rs 3,048 crores due along with interest since 2013.

▫️FDI inflows in equity during Apr-Dec period dipped 16%.

▫️The Free Trade Agreement signed between India and UAE, could help gems and jewellery export to reach $52 billion in FY23.

▫️ Jio and Vodafone have opposed the demand of satellite firms including Airtel, to allocate spectrum for satelite earth station gateway on an administrative basis.

▫️Crisil has upgraded Vedanta’s long term debt rating to “AA”.

▫️Indian refinery companies are hoarding up Russian crude oil, as they are available at cheaper prices.

▫️ Shriram Transport Finance raised Rs 900 crore via bonds.

▫️ Vedanta team visited Pune to survey the feasibility of setting up its chip plant.

▫️ The new 10 year, 6.54% Government Bond got fully subscribed in the weekly auction, for the first time since its launch on Jan 14.

▫️Non food credit growth slowed down to below 8% during first 15 days of February.

▫️NBFCs likely to report loan growth of 14% in FY23: India Ratings

▫️ Government agencies to procure record 44.4MT of wheat in the upcoming rabi season.

▫️From April 1, GST e-invoice mandatory for businesses with more than Rs 20 crore turnover.

▫️Tata in talks with Boeing and Airbus to acquire new aircraft for Air India.

▫️ India’s castor seed output in 2021-22 to beat last year’s output.

▫️Govt. approved FDI of 20% in LIC ahead of IPO.

▫️ Reliance Retail has taken over operations of over 200 stores of Future Retail.

▫️FMCG and Auto companies to wait until June for any price hike.

▫️ Future Retail suspended operations on all its stores, after takeover by Reliance Retail.

▫️States reported stellar capex growth of 52% YoY during Apr-Dec period.

▫️Russian Banks have banned from the SWIFT network. A big blow to Russia’s economy.

▫️ Russia and Ukraine talks have been planned in the Belarus border.

▫️ Aurobindo Pharma and Sun Pharma have recalled several products in the US due to deviation from standard manufacturing process.

▫️India cancels Rs 19,000 crore for connecting villages with broadband connectivity.

▫️British Petroleum to sell its 20% stake in Russian oil company Rosneft.

▫️PVR open to stream cricket on big scren.

▫️India and US discuss 30 armed drones deal.

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