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%.

News Bulletin: 30/09/2022

▫️ Government may take decision to curb import of non-essential goods to support falling Ruppee.

▫️ India’s current account deficit touched 4 year high of 2.8% in Q1FY23.

▫️Total energies to sell part of its stake in Adani Green.

▫️SEBI allowed foreign investors to trade in commodity derivatives.

▫️ Mandatory 6 air bags proposal for cars has been deferred by 1 year.

▫️ Blackstone to raise mega Real Estate Investment Trust in India.

▫️Adani Enterprises received Rs 10,000 crore funding for development of Ganga Expressway.

▫️Centre hiked interest rates by 10-30 bps for small savings schemes.

▫️ Centre cuts its borrowing target for H2FY23 by Rs 10,000 crore.

▫️India a star among emerging economies with 7.3% growth: S&P

▫️Hero joined hands with US based e-bike maker Zero.

▫️ Adani commissioned world’s largest wind solar plant of 600 MW in Jaisalmer Rajasthan.

▫️US economy shrank by 0.6% during April-June period.

▫️US jobless claim fell to 5 month low last week suggesting strong labour market.

News Bulletin: 29/9/2022

▫️ Domestic gas price to be revised tomorrow, a significant hike is expected on account of sharp rise in international gas price.

▫️ Yield on treasury bills moved up by 15-30 bps, indicating similar rate hike by RBI tomorrow.

▫️Centre extended the free foodgrain scheme for population below the poverty line by 3 months.

▫️MSMEs demand for capital increased as the enterprises stock up for festive demand.

▫️SBI filed for insolvency proceedings against Jaiprakash Associates.

▫️ Outstanding credit cards reduced by 23 lakhs in August due to RBI norm of deactivating inactive credit cards from July 1.

▫️ Strengthening dollar has led to fall in gold price to 30 month low.

▫️Indian Potash Ltd, Coromandel International and Chambal Fertilizer have signed pact with Canadian firm for import of 1.5MT of potash for next 3 years.

▫️Centre approved Rs 10,000 crore investment for redevelopment of railway station in Mumbai, Delhi and Ahmedabad.

▫️Tata is set to disrupt EV market with launch of cheapest EV at Rs 8.8 lakhs.

▫️ Demand for 3BHK has outpaced 2BHK for the first time in 1H22.

▫️Realty firms are buying land parcels as inventory levels drop.

▫️Nykaa to consider issue of bonus shares.

▫️User readiness for 5G in India is amongst the highest in world: Ericsson

News Bulletin: 28/09/2022

▫️Jet Airways’ plan to fly again is getting deferred due to delay in signing aircraft and engine lease agreements.

▫️Road Ministry has extended the timeline for EV makers to adopt to new safety standards for battery manufacturing.

▫️ Railways to resume busy season freight charge of 15% from October 1.

▫️ Torrent Pharma to acquire Chennai based leading Dermatology company Curatio Healthcare for Rs 2,000 crore.

▫️Adani Group to invest more than $100 billion in next 10 years, primarily in the energy transition sector.

▫️ Birla Corporation to invest $1 billion to ramp up capacity to 30 MT by 2030.

▫️Footwear and Apparel companies estimate double digit sales growth this festive season.

▫️Net direct tax collection has increased 23% in this fiscal year so far.

▫️PM to launch 5G services of Airtel and Jio on October 1.

▫️LIC has increased its stake in BPCL from 7% to 9% in last 9 months.

▫️ CredAvenue partnered with SBI to boost its co-lending portfolio.

▫️ Reliance retail launched its fashion and lifestyle departmental store Reliance Centro.

▫️ Muthoot finance signed an agreement with UAE based Lulu International Exchange to work as its collection partner.

News Bulletin: 27/09/2022

▫️SEBI is investigating top investment banks for possible disclosure failures.

▫️Ruppee slided sharply and touched all time low of 81.65 against dollar.

▫️ Property developers to hike property prices by 10-15% due to high input costs.

▫️ Tata Motors continues to plan to invest Rs 2,000 crore in commercial vehicle business annually.

▫️Infosys opened digital centre in Canada and will hire 1,000 people.

▫️Airtel forays into home surveillance business in 40 cities.

▫️ Vodafone Idea and EESL will install 50 lakh smart meters in Uttar Pradesh and Haryana.

▫️Crude oil prices touched 9 month low due to recession fears and stronger dollar.

▫️ Japanese currency Yuan touched 28 year low.

▫️ Motherson Sumi to fully acquire mirror business of Japanese firm Ichikoh Industries for Rs 300 crore.

▫️PVR has planned Rs 350 crore investment for 100 new screens.

▫️Aon has predicted average salary hike of 10.4% in 2023.

▫️ Auto dealers are expanding their outlets as demand spikes.

▫️BPCL to incur oil marketing losses this fiscal year: Fitch

▫️Hero Electric to set up Rs 1,200 crore EV unit.

▫️Amara Raja batteries is going for backward integration and will merge its plastic component business with itself.

News Bulletin: 26/09/2022

▫️Tata Group may go for organisation simplification, and half the number of listed companies.

▫️Gaming firm Gamekraft Technology got Rs 21,000 crore GST notice.

▫️The Information & Broadcasting ministry has objected the inclusion of OTT and broadcasting services as part of telecommunication service.

▫️ Finance Ministry likely to put cap on food subsidy expenses.

▫️ Government to relax 2 criteria for the upcoming textile PLI scheme.

▫️ Suzlon to raise Rs 2,000 crore via rights issue.

▫️RBI likely to hike interest rate by 50 bps on September 30.

▫️ Automobile manufacturers are struggling to meet deadlines related to safety due to lack of resources.

▫️India to receive record $100BN FDI in FY23.

▫️Centre has asked PSBs to improve recovery mechanism of defaulted loans.

▫️BPCL signed agreement with Brazil’s Petrobras to source crude oil from Latin American countries.

▫️Tata Steel approved merger of six subsidiaries with itself which includes Tinplate and Tata Metaliks.

▫️Brent crude fell below $87.

▫️ India’s forex reserve fell to 2 year low.

▫️Ruppee breached 81 mark against dollar for the first time.

▫️Wipro announced salary hike for 96% of employees.

▫️Coal India inked pact for four gasification projects.

▫️RIL bought 20% stake in the US solar firm.

▫️ Sterling and Wilson received $1.5 BN solar project from Nigeria.

▫️Metal prices fell due to global recession fears.

News Bulletin: 23/09/2022

▫️Bank of England raised interest rates by 50 bps to combat inflation, despite looming recession fears.

▫️SEBI to widen disclosures on IPO pricing.

▫️RBI directed M&M to stop any third party loan recovery mechanism.

▫️IT major Accenture forecasted tepid revenue growth of 8-11% for FY23. This could negatively impact the results of Indian IT companies.

▫️ Softbank slashed valuation of OYO by 20%.

▫️ Railways laid 1,353 kilometre of new tracks in FY23.

▫️Edible oil prices likely to be stable in short term. Government aims at reducing import of edible oil by 25-30%.

▫️Hero Moto hiked 2W prices by Rs 1,000.

News Bulletin: 22/09/2022

▫️The US Federal Reserve hiked benchmark rate by 75bps to 3.25% in line with the street expectations.

▫️Wipro fired 300 employees who working simultaneously for other companies.

▫️ Liquidity in the banking system turned in to deficit for the first time after 40 months mainly due to advance tax outflows and rate hikes.

▫️Apple likely to manufacture 25% of its total phones in India by 2025.

▫️DGCA extends 50% ban on Spicejet flights till October 29.

▫️ITC hotels signed up for 5 new properties.

▫️ Government approved 2nd tranche of Rs 19,500 crore Solar PLI Scheme.

▫️ Government to provide 50% incentive for semiconductor manufacturing.

▫️Asian development Bank reduced growth forecast by 50 bps to 7.00%.

▫️SP Apparels to buyback shares at Rs 585/share.

▫️ Amazon to set up its first solar plant of 420 MW in India.

▫️Iron ore exports plunge 60% in August.

▫️ Transport safety board has issued draft guidelines for car markers to install mandatory rear seat belts with alarm.

▫️RBI to infuse Rs 50,000 crore in the banking system to avoid liquidity deficit.

▫️Cabinet cleared logistics policy to focus on cost cuts.

▫️Power Finance Corporation to divest stake in REC.

▫️ India’s mineral output dipped 3.3% in July.

▫️Global recession unlikely to impact India: S&P

▫️ Reliance Retail is looking to acquire India rights of the beauty brand Sephora.

▫️ Volkswagen to hike car prices in India by 2%.

▫️ Luxury homes rent went up to 18% in the last 2 years.

News Bulletin: 21/09/2022

▫️Adani Group $13 billion shares of ACC and Ambuja in favour of lenders.

▫️Central Bank has been taken out of the Prompt Corrective Action Framework: RBI

▫️Honda to roll out electric moped.

▫️ Government is working on common KYC for all financial services and transactions.

▫️ Retail inflation for farm and rural workers increased in August.

▫️ India’s rice export to fall by 25% due to ban on shipment of broken rice and 20% export duty imposed on certain varities of rice.

▫️M&M to buy Swaraj Engines in Rs 296 crore deal.

▫️Spicejet sent 80 pilots on leave without pay.

▫️Hero and HPCL to set up e charging infrastructure.

▫️Titan to foray into smart eyewear products.

▫️M&M to double its SUV production.

▫️Vistara and Air Asia to come under Air India brand by 2024.

▫️Fed rate hike decision tonight. Markets to remain volatile.

News Bulletin: 19/9/2022

▫️SEBI approval for 19 IP0s worth Rs 24,000 crore is set to expire in 2 months.

▫️Ontario Pension Fund has bought 30% stake in Mahindra Group’s renewable energy platform for Rs 711 crore.

▫️Tata Steel and JSW Steel have shown interest in PLI scheme for speciality steel.

▫️ Airfares have jumped 30-40% for festive season. Passenger traffic has grown 67% during Jan-Aug.

▫️ Government may not go for any change in GST rates this financial year.

▫️ Outstanding dues of power distribution companies to power generation companies has reduced to Rs 713 crore from Rs 5058 crore in 1 month.

▫️ Branded furniture players have taken significant market share of unorganised players in recent months.

▫️Joe Biden claimed the US is now pandemic free.

▫️ Government has launched logistics policy to bring down logistics cost from double digit to single digit with infrastructure and technology deployment. The policy largely aims to benefit organized players.

▫️Foreign brands eyeing festive market demand in India. The brands have ramped up their collections and infrastructure to tackle high demand.

▫️Airtel and Jio to launch 5G services by month end.

▫️Adani Properties has withdrawn proposal to delist Adani Power.

▫️ Government slashed windfall tax on domestic crude by 21% to Rs 10,500/tonne. This will benefit ONGC and private refiner Reliance Industries.

▫️ Finance Minister has asked corporates to clear all dues of MSMEs.

▫️Blinkit to now deliver Apple Iphones in 10 minutes.

▫️JSW Ports repaid Rs 862 crore debt. The company aims to become debt free in 2-3 years.