News Bulletin: 12/8/22

▫️ Hospitality sector is being benefited from resumption of business travels, conferences and summits.

▫️Adani Enterprises to set up $5.2 billion alumina refinery in Orissa.

▫️ Nifty50 and Sensex reached 4 month high after recent market rally.

▫️Global capability centres of MNCs are like to expand to 2,000 centres from current 1,500 in 3-4 years.

▫️ Inflation in India may have peaked out, with energy prices easing and monsoon being normal.

▫️The supply of coal to electricity generating plants increased by 17% due to rise in power demand.

▫️ Government plans to reduce import of palm oil. India to produce 2.8 MT of palm oil locally by 2030.

▫️Tata Nexon EV was the highest selling EV 4W between Jan-July.

▫️ China’s Covid cases touched 3 month high.

▫️Hotstar raised subscription plans by 38%.

▫️ OPEC lowered oil demand forecast for 2022.

▫️US Fed to continue raise interest rates, despite flat inflation data in July.

▫️BofA revised Nifty’s year end target to 15,600.

▫️IRCTC boosted its revenue by selling quick meals in railways.

▫️Indian Post Office sold over 10 million national flags in 10 days.

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