News Bulletin: 29/7/22

▫️ Telecom companies fought aggressively to get spectrum license for tier 2 & 3 cities, in the ongoing auction.

▫️ Global and Indian markets rallied after Fed’s soft tone on rate hikes.

▫️US economy growth rate fell for 2nd straight quarter as the Country’s GDP contracted by 0.9% during April-June period.

▫️Auto industry to come up with very little discount this festive season.

▫️Adani Capital is planning for bumper $2 billion IPO in 2024.

▫️ Banking system liquidity dropped below Rs 50,000 crore as RBI took inflation control measures.

▫️Two unlisted companies Parle and Amul, scored highest in the Indian FMCG race.

▫️ Government is planning to build 11 million tonne food grain storage capacity in 33 locations at cost of Rs 9,200 crore.

▫️ Manufacturing sector got $21 billion foreign direct investment in FY22.

▫️Tea exporters are making windfall gain as Russia stepped up imports of tea from India.

▫️Centre may allow private mining companies to extract lithium for batteries.

▫️ Macrotech Developers inked Rs 6,400 joint venture deal to develop housing projects.

▫️ Nestle India to acquire pet food business of Purina Petcare.

▫️IOC to invest Rs 564 crore in West Bengal in FY23.

▫️ONGC to invest $6.2 billion in green energy.

▫️Mastercard profit beated all estimates on strong travel bookings globally through credit cards.

▫️Ethihad Airways posted record profit on sharp travel revival.

▫️Whereas, Facebook recorded first ever revenue decline in the history.

▫️Bajaj Finserv to issue bonus shares in the ratio of 1:1.

▫️ Banking industry is experiencing strong credit growth of 13.46%.

▫️Consumers are visiting stores more, but buying less: FMCG Survey

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