News Bulletin: 4/4/2022


▫️SEBI has halted new fund offers for 3 month, to allow AMCs to comply with new norms.

▫️ Finance Ministry affirmed that India will continue to buy cheap Russian oil, to fulfill its energy needs.

▫️ Monthly GST collection in March touched all time high of Rs 1.42 trillion, indicating swift economic recovery.

▫️ Enforcement Directorate has issued Rs 7,272 crore showcause notice to Transcorp International for alleged violation of FEMA rules.

▫️Auto sales in March improved, on the back of ease in semi conductor supplies and robust demand.

▫️Sale of commercial vehicles showed an encouraging trend with Tata Motors and Ashok Leyland recording growth of 21% and 18% YoY, respectively in the segment.

▫️Indian signed trade deal with Australia, wherein 95% of the 12,000 Indian goods will get free access in Australia.

▫️Chennai police warned quick delivery e-commerce companies as everyday more than 1,000 traffic violation cases is registered against the delivery partners.

▫️ India’s unemployment rate in March fell to 7.6% from 8.1% in February.

▫️ Chinese players get a relief to provide solar modules to India for next 6 months.

▫️Jet fuel price has been hiked by 2%.

▫️ Commerical LPG price has been hiked by Rs 250/cylinder.

▫️ India’s annual coal production was up by 8.6% in FY22, driven by surge in power demand.

▫️ Bharti Enterprises and Brookfield enter into a joint venture for 4 commercial properties with 3.3 million square feet space.

▫️ WhatsApp banned 1.42 billion Indian accounts in February due to alleged violation of social media rules.

▫️PVR halted operations at 23 screens after expiry of their lease term with Cineline India.

▫️Bosch acquired 14% stake in Bengaluru based B2B Startup Zeliot Connected Service.

▫️ Future alleged that for Rs 1,400 crore deal Amazon has destroyed Rs 26,000 crore company.

▫️ Investment via Participatory Notes (P-Notes) in equity market rose to Rs 89,143 crore at the end of February.

▫️KFin technologies bhas filed draft papers for Rs 2,400 crore IPO.

▫️EV sales has surpassed petrol cars sales in France for the first time during Jan-Mar.

▫️Tata Power gets approval to merge its wholly owned subsidiary Coastal Gujarat Power, with itself.

▫️ Tanishq to set up 45-50 stores PAN India.

▫️Asian Paints signed pact to buy two companies Obgenix Software and Weatherseal Federation.

▫️Credit rating of India corporates improved sharply during FY22. The ratio of rating upgrades to downgrades stood at 5.04 times.

▫️Cargo handling at major ports registered 6.94% growth in FY22.

▫️ India’s largest iron ore miner has hiked price of lump ore by Rs 100/tonne.

▫️Steel prices to increase significantly which may push up automobile and real estate price.

▫️ Central Electricity Regulator has capped spot price of electricity at Rs 12/unit.

▫️Two wheeler sales continue to be in slow lane in March, with all domestic players registering a double digit decline in sales.

▫️ Delhi government allowed private shops to offer up to 25% discount on liquor MRP.

▫️ Railways registered its highest ever Freight loading in FY22.

▫️India inked pact with Nepal and Turkmenistan for trade and other deals in certain sectors.

▫️ China’s real estate giant Evergrande’s 95% project are back on track.

▫️TVS Motor buys majority stake in British EBike company EBCO.

▫️TRAI has finally listened to telecos and telecos will get E-band on nominal fees to provide high speed data in remote areas.

▫️Delhi-NCR builders have huge pile of unsold housing inventory which take upto 6 years to be cleared.

▫️ Hindustan Copper draws up Rs 5,500 crore plan to expand its ore capacity.

▫️ Transport body demands cut in taxes on fuel due to sharp surge in oil prices.

▫️Coffee Exports were up 42% in FY22.

▫️About 40 lakh weddings to happen during April – July, which could generate Rs 45 lakh crore of business.

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