▫️ 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.