News Bulletin: 2/5/2022

▫️ International Semiconductor Consortium (ISMC), joint venture between Israel’s Tower Semiconductor and Abu Dhabi’s Next Orbit Ventures, will open India’s first semi conductor plant in Karnataka.

▫️Anchor investors rushed to invest in the LIC IPO. Bids received from anchor investors are double the size alloted to them.

▫️ HDFC has raised its lending rates by 5 bps.

▫️GST collections in April have reached all time high of Rs 1.68 trillion.

▫️India is facing serious power supply crunch due to coal shortage and high power demand.

▫️ Semiconductor chip shortage continued to dent passenger vehicle sales of Maruti and Hyundai.

▫️ Heatwave has induced strong demand for cooling consumer goods. Lloyds a brand by Havells has already sold record 250,000 air conditioner units this season.

▫️ However, heat wave has affected the crops in Uttar Pradesh, Rajasthan and Punjab.

▫️FDI in manufacturing surged 78% between April’21 – Feb’22.

▫️ Jet fuel prices were hiked by 3.22% on Sunday.

▫️ Passenger Vehicles Auto sales April YoY: Maruti (-10.2%), Hyundai (-10.2%), Tata Motors (65.7%), Toyota (57.1%) and Honda (-13.2%).

▫️ Commercial Vehicles Auto Sales April (YoY): Tata Motors (108.9%).

▫️Firms expand cloud kitchen set ups over strong demand. Industry is expected to reach $2 billion by 2024.

▫️UPI saw 558 crore transactions in April, highest ever.

▫️Adani Group is looking to invest $4 billion in healthcare. The Group mau acquire hospital chains, pharmacies, etc.



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