News Bulletin: 3/10/2022

▫️RBI hiked repo rate by 50 bps to 5.90% and kept inflation target unchanged at 6.7%.

▫️The US imposes strict sanctions on Russia over Ukraine annexation.

▫️Monsoon rains this season were 6.5% above normal.

▫️Tax collection slowed down by 8% during August.

▫️Infosys likely to announce share buyback with 2Q earnings.

▫️ Government hiked domestically produced natural gas price by 40% in line with the rise in international gas prices.

▫️ Core sector grew by 3.3% in August.

▫️Air India is seeking $1 billion fundraising for expansion.

▫️ Vodafone Idea is in talks with Indus Towers seeking softer payment terms for its pending dues.

▫️2W and Real Estate most likely to get affected by hike in interest rates.

▫️PM launched 5G services in the country. Airtel is now offering 5G services in 8 cities. Jio to start 5G offerings from Diwali and Vodafone Idea has not given any timeline for the same.

▫️Jet fuel price has been reduced by 4.5%. Commercial LPG rate reduced by Rs 25.5/cylinder.

▫️ September auto sales showed record growth with Maruti Suzuki leading the growth.

▫️ Reliance Jio to launch 5G enabled laptop at attractive price of Rs 15,000.

▫️ Centre has reduced windfall tax on domestically produced crude by 24%.