News Bulletin: 1/7/22

▫️Coal India is looking to sell stake in 8 of its subsidiaries.

▫️Eknath Shinde took over as the new CM of India’s richest state Maharashtra.

▫️Core sector growth climbed to 13 month high in May at 18.1%.

▫️ Reliance Brands Ltd. partnered with Pret A Manager, the UK based coffee and food chain to launch stores in India.

▫️PM launched two new support schemes for MSMEs.

▫️ Andhra Pradesh, Gujarat and Telangana topped the rank in ease of doing business.

▫️ Government has extended the PLI Scheme application deadline for speciality steel by 1 month till July 31.

▫️ Government left interest rates for small savings schemes unchanged.

▫️Bharti Airtel opted for 4-year moratorium for AGR dues of Rs 3,000 crore.

▫️Lenskart and Japanese brand Owndays sealed a merger deal worth $400 million.

▫️ Rainfall in June was 8% below the normal levels.

▫️ India’s external debt in FY22 increased by 8.2% to $620.7 billion.

▫️ Registration of properties in Mumbai increased by 21% year-on-year, but fell month-on-month

▫️Maruti to raise production to eliminate long waiting period for new Brezza.

▫️FMCG companies to take steps for new packaging as alternative to single use plastic.

▫️US consumer spending fell for the first time in May in 12 months.

▫️ Demand for residential real estate fell in double digits, due to hike in interest rates.

▫️RBI assured that major NBFCs are well capitalised to absorb potential external shocks.

▫️Hike in interest rates may impact HDFC Bank’s margins in the current quarter: Deepak Parekh

▫️Crude oil prices fell below $110 over recession concerns.

News Bulletin: 30/6/22

▫️ Govt. allowed domestic crude oil producers to sell oil to anyone in the domestic market without any government intervention.

▫️Uddhav Thackeray resident as the CM of Maharashtra ahead of the floor test.

▫️Ruppee closed at record low of 78.66 against dollar, yesterday.

▫️ Government to end GST revenue compensation to States, despite fierce opposition.

▫️ Gujarat Alkalies and Chemicals is mulling to expand its existing production capacity from 525,000 MT to 900,000 MT.

▫️Toppr, an Edtech Startup fired 300 employees.

▫️ Japan’s Renesas Corporation tied up with Tata Motors and Tejas Network for semiconductor solutions. The Company will also partner with TCS for setting up joint solution center in Bengaluru.

▫️ Tata Steel to spend Rs 1,200 crore on new technology.

▫️Redington has entered into strategic collaboration with Amazon Internet Services.

▫️Asian Paints expects uncertainty in industry to rise.

▫️US GDP contracted by 1.6% in Jan-Mar quarter due to record trade deficit.

▫️SEBI allowed FPIs to take part in commodities derivatives market.

▫️GST Upward Revisions: Hotel rooms below Rs 1,000 to attract 12% GST, Unbranded, pe-packaged labelled food at 5% GST, Goods related to petroleum at 12% GST, Electronic waste 18% GST, financial services offered by regulators like SEBI, RBI and IRDAI at 18% GST and tetra packaging to attract 18% GST.

▫️ According to Mercer’s 2022 cost of living survey, Mumbai emerged as the most expensive city to live and Kolkata continued to be the least expensive city.

▫️Indian Oil Corporation to expand capacity at Digboi from 0.65 to 1 MMT.

▫️ Debt ridden Carnival Cinemas plans to raise Rs 400 crore from Yes Bank.

News Bulletin: 28/6/22

▫️The National Anti Profiteering Authority has fined Rs 186 crore against personal care brand L’Oreal for not passing GST benefit to consumers.

▫️Jet Airbus is likely to give aircraft orders worth $5.5 billion to Airbus.

▫️Two day GST council meeting begins today. The council may announce GST rate hikes on some products and services (online gaming, casinos, hotel rooms, leather, LED lamps, blades, diary machinery, etc.).

▫️ Bajaj auto announced share buy back plan of Rs 2,500 crore, around price of Rs 4,600/share.

▫️B2B startup Udaan fired around 180 employees.

▫️ NBFC and Fintech companies may launch credit cards to gain market share.

▫️Steel companies have slowed down steel production due to demand concerns.

▫️ Despite fire accidents and challenges, electric 2W sales remain strong during Apr-Jun period.

▫️ Brigade Group to develop 2.1 million square feet residential township in Chennai.

▫️ Mahindra has launched all new Scorpio-N SUV at a price of Rs 11.99 lakhs.

▫️Tata Consumer to look at both organic and inorganic growth opportunities.

▫️ Russia defaulted on its first foreign debt since 1918, due to sanctions imposed on the country.

▫️G7 countries aims to invest $600 billion in infrastructure to counter China’s One Belt One Road initiative.

▫️ Airlines in the US cancelled 700 flights yesterday due to shortage of labour.

▫️S&P affirmed “BBB-” rating of ICICI BANK.

▫️ Credit card spends bounced back in May and was up 8% month on month.

▫️Bank of Baroda to raise Rs 5,000 crore through infrastructure bonds.

▫️ TTK Prestige to acquire majority stake (51%) in Ultrafresh to boost its presence in modular kitchen segment.

▫️SEBI warned Aurobindo Pharma on breach of disclosure norms.

▫️Monsoon rainfall deficit increased to 10%.

▫️Global cotton prices have plunged to 6 month low.

▫️ NBFCs sees some drop in rural demand due to high inflation.

News Bulletin: 27/6/22

▫️ Maruti Suzuki and Toyota to jointly manufacture new SUV.

▫️ Zomato to acquire Blinkit for consideration of Rs 4,447 crore in share swap deal.

▫️ Branded fabric retailer Raymond aims to be net debt free in 3 years.

▫️ RBI extends card tokenisation deadline by 3 months to 30th September.

▫️ Inflation in India to ease to 4% in 2 years: RBI deputy governor.

▫️ Sowing of Kharif crops has seen slow progress in first two weeks of June. (24% less than last year)

▫️Centre procured 52,460 tonne of onion till May for buffer stock.

▫️ Government’s expenditure department has warned that extension of free ration scheme beyond September or any major cut in taxes would be detrimental for the country’s fiscal health.

▫️ NTPC has achieved renewal power capacity of 2 GW, with commissioning of new 92MW solar plant in Kerala.

▫️Castor oil exports have plummeted 10% during Jan-May due to low international demand.

▫️Intel opens new 4,53,000 sq ft. centre in Bengaluru to expand its presence in India.

▫️Tamil Nadu government launched new initiatives to attract high tech companies.

▫️Voltas claimed that it was the market leader in split AC market for FY22 and April 22.

▫️Tata Motors partnered with Amity University to provide M.tech degree in EV technology.

▫️Hero Moto launched new Passion Xtec bike.

▫️Dr. Reddy acquired Eton Pharma’s injectable products for $50 million.

▫️RBI to scrutinize Buy Now Pay Later schemes offered as it could lead to systemic risks.

▫️FY22 loan outstanding balance of MSMEs were 36% higher than pre-covid levels.

▫️ Currency notes in circulation is at very high level despite the rise in digital transactions.

▫️ Karnataka witnessed highest FDI inflow in FY22, with a growth of 187.8% year on year.

▫️GEF India to set up Rs 500 crore manufacturing facility in Telangana.

▫️Covid return may force companies to re-assess their plans.

▫️Future Retail defaulted on Rs 4.10 crore interest payment

▫️Tata Power commissioned India’s largest floating solar power project in Kerala.

▫️Online car sales rise as companies change the buying experience.

▫️ Department of Telecom to auction spectrum in E and V bands, which will provide high speed connectivity in rural areas.

▫️ Hyundai is sitting on 135,000 car bookings due to chip shortage.

▫️Tata Motors defeated Hyundai and Maruti in compact SUV space.

▫️NMDC’s steel plant in Chattisgarh may open in September.

▫️SBI and other PSU Banks commit Rs 6,071 crore to Adani’s copper business.

▫️G7 may ban Russian gold in response to Ukraine war.

▫️Metal prices have dropped sharply due to fears of global recession.

News Bulletin: 6/24/22

▫️ High Court granted approval to Yes Bank to vote in EGM of Dish TV. Yes Bank will likely vote against reappointment of 5 directors over corporate governance issues.

▫️ Vodafone Idea to avail government’s four year moratorium on Rs 8,837 crore AGR dues.

▫️ Unemployment rate fell to 9 quarter low of 8.2% in January-March.

▫️ Centre government assured that almost all petrol pumps are operating in the country at normal levels.

▫️Prolonged mild recession in the US will likely impact India’s growth: Nomura

▫️ONGC arm has discovered oil blocks in Columbia.

▫️IOC and HPCL are also exploring options to purchase cheap Russian crude oil.

▫️World Bank to provide $245 million to modernize India’s railway infrastructure.

▫️ Govt. and Tata Motors to look into EV fire accident of Tata Nexon.

▫️Tata Steel is planning to develop low carbon emission steel plant in the UK.

▫️ Macrotech Developers enter into the Bengaluru market, to construct residential properties.

▫️Media and Entertainment industry to grow by 8.8% and achieve revenue of Rs 4.3 trillion by 2026: PwC

▫️Hero Motocorp to raise 2W prices from July 1.

▫️Chances of global recession are up 50%: Citigroup

▫️IT services major Accenture trimmed down its Apr-Jun quarter revenue and profit target.

▫️Toyota recalls 2,700 EVs due to safety issues.

▫️Copper prices fell to 16 month low in the yesterday’s trade due to weak global environment.

▫️Gold prices also plummeted due to rising interest rate concerns.

▫️Crude oil prices fell due to demand concerns.

▫️SBI puts off IPO of mutual fund arm due to volatile markets.

▫️ RBI proposed norms for outsourcing of IT services by Banks and NBFCs.

▫️ Crompton to double kitchen appliances business in 3 years.

▫️ Morgan Stanley expects Zomato stock to double from current level.

News Bulletin: 23/6/22

▫️ Domestic air traffic reached almost the pre-pandemic levels in May carrying 12 million passengers.

▫️ Government has decided to add dividend payments and share buy backs to the performance matrix of central PSUs. This will help to improve investor interests in the PSUs.

▫️Zomato Board of Directors will likely approve the acquisition of Blinkit in tomorrow’s meeting.

▫️Ruppee touched all time low of 78.39 against dollar.

▫️The average salary of Indian CEOs hit 3 year high of Rs 11 crore.

▫️An earthquake hit Afghanistan, killing atleast 1,000 people.

▫️In a relief to telecom companies, Department of Telecom removed 3% floor rate on Spectrum Usage Charges.

▫️NTPC may add new coal power capacity to meet country ‘s high demand.

▫️BPCL may enter into a term deal with Russia for import of cheap crude oil.

▫️Due to limited availability of cotton, majority of ginning and pressing mills across India have halted operations till fresh cotton crop arrives in the market in October.

▫️Sugar mills seek approval for export of 8 million tonnes of sugar under open general license next season.

▫️ Future enterprises defaulted on interest payment.

▫️Tata Steel lost fight against a European Union antitrust veto of their proposed landmark joint venture with Thyssenkrupp.

▫️Okinawa to set up EV-2W manufacturing facility in Rajasthan for an investment of Rs 500 crore.

▫️ Co-working space is seeing growth in popularity as hybrid working model gains pace.

▫️ Vodafone Idea to raise Rs 436 crore from Vodafone Plc.

▫️Auto component firms to hit double digit revenue growth this fiscal.

▫️UK inflation hits new 40 year high of 9.1% in May.

▫️ Inflation in India to cool down to 4% by FY24: RBI

▫️Bank of America has cut down its Nifty50 year end target to 14,500.

▫️Tata Motors is planning to sell cars online with a full AI backed digital set up.

▫️ ITC clocked forex earnings of Rs 9,779 crores in FY22, backed by export of agri commodities.

▫️Tata Steel clarified that the Company will not buy any more coal from Russia.

▫️ High air fares delaying recovery in hospitality sector: Ixigo

▫️ Matrimony.com approved buyback of 6.52 lakh shares of the Company (2.85% of total equity) at price of Rs 1,150. CMP: Rs 823

▫️AU Small Finance Bank launched customized LIT Credit Card to attract young population.

▫️Ruppee may decline to 81 per dollar: Bank of America

News Bulletin: 22/6/22

▫️ Telecom operators complained against 3% floor charges in the upcoming 5G auctions.

▫️GST council has proposed removal of GST exemptions on several services.

▫️MamaEarth eyes $3 billion valuation in the upcoming IPO.

▫️Jain Irrigation to merge its global business with Rivulis in Rs 4,200 crore deal.

▫️Food Corporation of India to raise Rs 50,000 crore from banks to fund its short term operations.

▫️ Delhi – NCR has highest vacancy for office space at 28%: ICRA

▫️By 2027, India to have 500 million 5G subscribers: Ericsson

▫️IKEA opened its 3rd and largest store in India in Bengaluru. The Company aims to source 50% of its raw materials locally.

▫️Two proxy advisory firms have advised Asian Paints’ shareholders to vote against reappointment of its current CEO and MD, over lack of disclosures.

▫️PVR-Inox merger gets approval from NSE and BSE.

▫️ Hindustan Motors to sell Contessa brand to SG Corporate Mobility.

▫️ South China’s provinces are on alert after rising Covid-19 cases.

▫️Yes Bank launched FD’s linked with repo rate.

▫️CBI arrested Biocon officials over Bribery allegations.

▫️NSDL in talks with investment banks for Rs 4,500 crore IPO.

▫️General Electric and BHEL have signed an agreement for manufacturing of 3 nuclear steam turbines for $165 million.

▫️Indian users have lost Rs 1,000 crores to crypto scammers.

▫️Adani Enterprises submitted bid for Coal India’s 8 million tonne coal tender.

News Bulletin: 21/6/22

▫️Air India is planning to order 300 narrow-body aircraft at an aggregate value of $40.0 billion.

▫️SEBI fined RIL and 2 of its compliance officers for violating fair disclosure norms over Facebook Jio deal executed in 2020.

▫️ Vedanta to sell its Tuticorin copper smelting plant.

▫️ Vodafone Idea to consider Rs 500 crore fund raising at upcoming Board meeting.

▫️PLI scheme for telecom equipment manufacturing extended by 1 year.

▫️Tata Steel imported 75,000 tonnes of Russian coal in second half of May.

▫️India-EU FTA talks to resume next month.

▫️ Finance Minister urged PSBs to accelerate bad loan recovery.

▫️Rain deficit at 5% as monsoon progresses.

▫️ Telecom companies have demanded that services offered by them to private captive network should be exempted from GST, license fee and spectrum charges to ensure level playing field.

▫️Maruti to launch new Vitarra Brezza on June 30. The Company claimed to have order book of more than 315,000 cars.

▫️TCS plans to open more research hubs in Europe.

▫️Ashok Leyland launched Star 1115 CNG Truck.

▫️Adani Power acquired infra firms SPPL and EREPL for Rs 600 crore.

▫️China purchased more than $7.5 billion of Russian energy supplies in May, double the amount than last year.

▫️Inox Green Energy files fresh draft papers for Rs 740 crore IPO.

▫️LIC HF ups lending rates by 60 bps.

▫️Nifty50 valuation (PE) has returned to its 10 year average of 16.8.

▫️ Govt. to soon hire bankers for stake sale in Hindustan Zinc.

▫️ Auto ancillary revenue to increase by 8-10% in FY23: ICRA

▫️Steel exports to fall 40% in FY23, owing to higher duty imposed: CRISIL

▫️ Cotton prices likely to come down due to lack of demand and rise in cultivation.

▫️Kotak and Abu Dhabi Investment Authority formed $590 million fund to invest in back office space.

▫️Russian ruble touched 7 year high.

News Bulletin: 20/6/22

▫️Centre’s advance direct tax collection in Q1FY23 jumped by 33% to Rs 1.01 trillion.

▫️RBI estimates digital payment transaction to triple by 2025.

▫️ Transport minister claimed that EV prices will soon be equivalent to petrol vehicles.

▫️ Finance Minister to review large NPAs and asset quality of PSB on June 20.

▫️Tata Motors EV arm to take possession of Ford’s plant in Gujarat.

▫️L&T Infotech is mulling option to open offices in multiple cities.

▫️ Vijay Shekhar Sharma, bought 170,000 shares of his company (PayTM).

▫️Kesoram Industries targets capex of Rs 350-500 crores in 3-5 years.

▫️TVS owned Norton plans UK built EV 2W.

▫️Coal India is looking at fresh and new techniques for coal underground mining.

▫️Non Life Insurers premium grew 24% year on year in May.

▫️L&T and Komatsu are looking for steady biodiesel supply for construction and mining activities.

▫️7.5 million active mobile subscribers became inactive in May due to rise in mobile tariffs.

▫️Crude Oil fell 6% after Fed’s hawkish stance to curb inflation.

▫️AC sales grew 30% year on year between Jan-Apr.

▫️The country crude oil output was up 4.6% year on year in May.

▫️Deltatech Gaming files for Rs 550 crore IPO.

▫️ Made in India smartphones shipment up 7% year on year in Q1.

▫️ Britain may face recession in 2 years: JP Morgan

▫️Bank credit grew 13.1% year on year for fortnight ended June 3.

▫️ HDFC Life to raise Rs 350 crore via bonds.

▫️ India’s import of Russian coal has jumped 6 times in last 1 month.

▫️150 Unacademy employees laid off.

▫️5G rollout to begin in Aug-Sep.

▫️ Moody’s upgrade baseline credit assessment for ICICI and Axis Bank.

▫️25% of Nifty 500 stocks are trading at 52 week low.

▫️Not easy for airlines in India to become profitable: IATA

▫️Ahead of 5G auction govt. will convert its debt into Vodafone to equity and hold 32% stake in the Company.

▫️ Omega Seiki to open e-3W plant in Pune.

▫️ Spicejet makes emergency landing after the plane caught fire immediately after take off.

▫️Wipro merged two of its business units.

▫️ Coal India to foray into aluminium production and solar power generation.

News Bulletin: 17/6/22

▫️RBI lifted the ban on issuance of new Mastercard, after the Company complied with the data storage norms.

▫️ Jet fuel price was raised by 16% yesterday. Airline companies have urged government to look into the matter, and have said they will pass on the cost to consumers.

▫️ Jio and Airtel to bid aggressively for spectrum licenses in the upcoming auction.

▫️Sharp rise in construction material cost has slowed down highway construction to 21 km per day during months of April and May.

▫️ Electricity Act which will allow consumers to choose between different service providers will be tabled in parliament for approval in July.

▫️High duty will negatively effect steel exports by 25% in FY23: ICRA

▫️ Monsoon has been 25% below normal so far. However, the intensity is set to increase in coming days.

▫️Jio added 1.68 million subscribers, Airtel added 0.8 million users and Vodafone lost 1.57 million subscribers in April.

▫️ Retail business grew 24% in May over pre pandemic level of 2019.

▫️Tata Motors would be forced to stop production due to supply chain issues of  parts from China. The company is also seeing temporary fall in demand.

▫️ Analysts have forecasted mild recession chances in the US after sharp rate hike by Fed.

▫️Bank of England raised interest rate for the fifth straight session by 25 bps.

▫️Kotak Bank raised MCLR by 20 bps.

▫️Royal Enfield plans strong line up for global market.

▫️TCS entered into world’s top 50 brands list.

▫️India reported 40% jump in Covid cases on Thursday.

▫️JP Morgan upgrades Reliance to Overweight from Neutral due to strong refining environment.

▫️LIC increased its stake in Dr. Reddy’s to 5.6%.

▫️Revlon files for bankruptcy.