News Bulletin: 25/4/2022

▫️Traders are buying unusually large quantities of wheat in anticipation of shortage during coming months.

▫️Early onset of summer has been positive for consumer goods companies which are witnessing sharp rise in sale of summer related products.

▫️India and Canada have started negotiations on free trade agreement.

▫️Ola electric has recalled 1,441 scooters over repeated fire incidents.

▫️Indian corporates are witnessing significant margin pressure due to elevated commodity prices.

▫️ Indonesia has banned export of palm oil due to shortage. Therefore domestic edible oil prices may shoot up by 10-15%.

▫️Centre to dilute 3.5-5% stake in LIC IPO.

▫️ Eight European ministers to visit India this week.

▫️ Telecom companies may go for another tariff hike in May.

▫️ Induslnd Bank failed to sell off its Future Retail’s Rs 247 crore of loan exposure to Edelweiss Asset Reconstruction Company.

▫️ Exporters have now started receiving pending payments from Russia.

▫️Semi conductor shortage and supply chain disruption in China, have affected India’s automobile manufacturers. Currently, automakers have 750,000 car orders pending.

▫️Despite RIL-Future Deal getting called off, RIL will still occupy 947 Future Retail stores.

▫️India is facing power shortage as early onset of peak summer has heightened the power demand. Government is looking at various sources to elevate power supply.

▫️Global steel output fell for 9th month in March, due to Chinese lockdown. While India’s steel production has seen growth in March.

▫️In a suprise Bank of Baroda has reduced home loan interest rates to 6.50% from 6.75%.

▫️ One of the biggest global fund CDPQ is looking to invest in energy transformation projects in India.

▫️ICICI Bank posted highest ever quarterly net profit in March quarter, led by sharp rise in net income and lower provisions.

▫️Global tech major Fujitsu to double employee headcount in India in 12 months.

▫️India has crossed pre covid daily domestic air passenger count: Ministry of Civil Aviation.

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