News Bulletin: 20/09/2022

▫️Adani to double cement making capacity of Ambuja and ACC to 140 MT in 5 years.

▫️Ola laid of 200 engineers from software business.

▫️RBI rejected bank’s request to allow them flexibility in recording mark to market losses in balance sheet.

▫️Oil ministry main exempt hydrocarbon blocks from windfall taxes. ONGC and Cairn to benefit from this decision.

▫️SBI to limit dollar exposure in Bangladesh due to forex crisis in the country.

▫️ Vedanta’s semiconductor chip won’t hit its liquidity: S&P

▫️US forces to defend Taiwan if China invades: Joe Biden

▫️ Crude oil fell more than 2% on demand fears.

▫️Adani Green Energy commissions 325-MW wind power project in MP.

▫️Banks may increase deposit rates to attract savings, as there is strong demand for credit: India Ratings

News Bulletin: 25/8/22

▫️ World’s largest EV manufacturer BYD to enter Indian market with electric SUV in October.

▫️RBI lifted curb on American Express. The Company can now onboard new customers.

▫️Net debt of real estate firms increased as they enter in new projects.

▫️ Adani Green is the second most leveraged firm in Asia.

▫️ Govt. to sell atleast 51% stake in IDBI Bank.

▫️ DVC plans to foray into power distribution business.

▫️Mandi prices of key vegetables fell.

▫️IT firms to continue to face margin pressure in medium term.

▫️Tata Motors & M&M bagged highest share in the Indian SUV market.

▫️Royal Enfield to utilise unused capacity to reduce waiting period for customers.

▫️ Vedanta to complete $2 billion capital expenditure in FY23.

▫️Russia likely to provide crude oil to Asia at 30% discount.

▫️US capped H1-B visa at 65,000 for 2023.

▫️ Bandhan Bank to open 551 branches in FY23.

News Bulletin: 10/8/22

▫️India is seeking to restrict Chinese smartphone makers from selling devices cheaper than Rs 12,000, to support domestic smartphone makers.

▫️SBI to onboard 100 million customers to its mobile app YONO.

▫️ Mutual funds inflows dip 43% in July, as investors choose to book profits.

▫️ Electricity bill introduced in Loksabha, which seeks to allow customers to choose their electricity provider.

▫️FMCG companies expect 15-20% volume growth this season.

▫️ Apollo Hospitals acquired a Gurgaon based hospital asset for Rs 450 crore.

▫️ Jio has completed 5G coverage planning across 1,000 cities.

▫️US Senate approved bill to fight climate change and reduce drug prices.

▫️Indian smartphone market grew by 3% in Apr-Jun quarter.

▫️Job demand remained flat in July amidst recession fears.

▫️Softbank posted huge loss in June quarter, which may led to lower funding for Indian startups.

▫️ India’s wheat reserve fell to 15-year low.

▫️ Textile industry is eyeing festive season for revival.

▫️Airtel ready for 5G launch, eyes PAN India coverage by 2024.

▫️Uber to focus on improving service in India.

News Bulletin: 11/7/22

▫️Adani Group may participate in 5G Spectrum auction, and spend Rs 2,800 crore to purchase 5G spectrum for private consumption.

▫️ Government may abolish export duties on steel exports.

▫️Sri Lanka parties agree for all party interim government, to steer the country out of crisis.

▫️ The recent drop in commodity prices, may help inflation to cool down below 6% by Oct-Dec, 2022.

▫️ Highway construction fell to 22 km per day during Apr-Jun period, due to high construction costs.

▫️Startup Finding declined by 40% during Apr-Jun period: PwC

▫️ Recent drop in agriculture commodity price will help to cool down food inflation in the coming months.

▫️ Gujarat based chemical manufacturers are paying high charges for treatment of discharged water due to implementation of stringent pollution norms. The cost of water treatment has increased by 250% in last 3-4 months.

▫️Large number of Indigo technicians went on sick leave to protest against low salaries.

▫️ Credit demand to grow moderately in next 3 months backed by strong economic recovery: RBI Survey

▫️ India’s first spot bullion exchange to commence from July 15, at GIFT IFSC.

▫️ UAE’s Lulu Group to build large super markets in UP.

▫️ Chennai to host International Chess Olympiad from July 28th.

▫️ Wipro to provide promotion every quarter to high performing employees. The step is taken to retain and attract best talent.

▫️AMCs added 5.1 million mutual funds account in Q1 during Apr-Jun quarter.

▫️ Banks may post weak numbers for Q1, due to treasury losses as a result of volatility in bond markets.

▫️Tata Motors has increased the price for its passenger vehicles by 0.55%.

▫️M&M raised Rs 1925 crore for new EV subsidiary.

▫️Rishi Sunak is likely to be new British PM.

▫️ India’s defense export amounted to Rs 13,000 crore in FY22, growth of 54% over previous year.

▫️ Inflows in equity MF fell 16% in June, due to tepid market conditions.

News Bulletin: 7/7/22

▫️Reliance Retail to be official retailer of the US fashion brand GAP in India.

▫️DGCA issued showcase notice to Spicejet, after the Company reported 8 technical malfunction incidents in last 17 days.

▫️RBI announced series of measures to boost foreign investment inflows.

▫️ Government to revise CPI and WPI indices (food and fuel weightage to be reduced).

▫️Edible oil makers to cut price by Rs 10/litre, following softness in global markets.

▫️Duty exemption on import of raw cotton exempted till 31st October.

▫️Export growth in FY23 may slowdown due to recession fears in the US and EU.

▫️Oil Marketing Companies have hiked the LPG Cylinder price by Rs 50/cylinder.

▫️ Okinawa emerged has the top 2W EV seller for second consecutive month beating big companies like Ola, Ather, Hero, Ampere, TVS, etc.

▫️Piramal Enterprises gets shareholder approval for the proposed de-merger of its pharmaceutical business and simplification of corporate structure.

▫️Amazon Prime Day sales to be held on 23-24th July.

▫️Macrotech Q1 sales jumped 3 fold during Apr-Jun quarter, as there persisted strong demand for its residential projects.

▫️BMW India reported 64.2% jump in car sales during Jan-Jun period.

▫️TVS Motors is working aggressively to tackle chip shortage issues.

▫️ China’s life expectancy grew by 0.6 years to 77.93 years, despite the Covid rage.

▫️ Mutual fund industry asset base was up 14% in Apr-Jun to Rs 38 trillion in Q1.

▫️HDFC Bank raised MCLR rates by 20 bps.

▫️IT department raided Dolo 650 manufacturer, Micro Labs’ premises.

▫️All vehicle categories to comply with the fuel consumption norms from April 2023.

▫️ Heavy downpours erased the early monsoon deficit in the country.

▫️ Government reduced gap between 2nd dose and precautionary dose to 6 months.

▫️India to taget $350 billion of service exports in FY23.

▫️ Telecom companies may see slower revenue growth in Q1.

▫️86% Indians plan for a travel in next 12 months:

▫️Kotak Mahindra Bank may double its market value im 5 years by accessing digital markets.

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: 13/04/2022

  • US Inflation hits a 40-year high, soaring to 8.5%, increasing the chances of aggressive rate hikes by Federal Reserve.
  • Retail Inflation in India reached a 17 month high at 6.95% due to a sharp jump in food prices in March. This is much higher than RBI’s tolerance band of 2-6%
  • Industrial output grew 1.7% in February from a year before, although on a lower base.
  • 2/3rds of IPO since FY13 have given positive returns.
  • WTO slashes world trade growth forecast to 3% due to Russian-Ukraine conflict.
  • Tata Motors reported 2% growth global wholesales.
  • Sri Lanka has halted its debt payments to bondholders, creditors, financial institutions in order preserve its dwindling forex reserves to meet essential food and fuel imports.
  • Honda to spend $64 billion on R&D for electric ambitions.
  • Airports clog as teav rebound strain resources.
  • Short-term yields rise 15-30 bps post standing deposit facility window (SDF) launch.
  • Indian Markets fell for the 2nd straight day amid FPI selling. FPIs have sold shares worth Rs 3128 crore whereas DIIs have both shares worth 870 crore.
  • Centre surpasses its asset monetization target of Rs 88,000 crore for FY22.
  • Private sector capex to see revival: CEA
  • Skymet expects average monsoon rain this year in India.
  • With early onset of summer, the country is likely to face another power crisis as demand continues to surge while coal stock with power generation companies remains critical with several thermal plants having less than 7 days of stocks.
  • TCS has ended FY22 on a strong note with the highest-ever order book of total contract value worth $34.6 billion. The March quarter (Q4FY22) earnings, too, met expectations with 3.2% sequential constant currency revenue growth.
  • OPEC cuts 2022 oil demand forecast due to Ukraine war.
  • Biba Fashions files IPO paper; existing investors to pare stakes.
  • Beer firms bet on long summer to raise sales.
  • Telecos want TRAI to reduce 5G airwaves base prices by 90%.

News Bulletin: 11/04/2022

  • Corporate profits could be a mixed bag overall for Q4FY22 due to omicron wave, rising raw material prices, shortage of components and subdued demand in rural areas.
  • Many states are facing power shortage due to shortage of fuel stocks at thermal stations, largely because of peaking summer and industrial revival.
  • Coinbase suspends payments via UPI 3 days after India launch.
  • Maharashtra has recorded an all time high sugar production of 132 lakh tonnes this year.
  • Discoms outstanding dues to power producers increased 17.3% in April over last year.
  • 5G launch to open new revenue stream for BSNL.
  • A sharp rise in cotton prices since February has hit the country’s textile industry.
  • BharatPe posted record growth in FY22 and is on track to break even and list on exchanges in the next 18-24 months, CEO Suhail Sameer said.
  • Chip shortage has impacted the Auto industry severely, leading to lower production and longer waiting periods for customers.
  • Wyndham Hotels and Resorts to open 29 more hotels in India by 2025.
  • FPIs pulled out close to Rs 50,000 crore from the IT sector in FY22. BFSI was the highest loser of record foreign fund outflow from the Indian market, at Rs 82,398 crore.
  • Goodluck eyes Rs 200 crore capex to boost exports, defence supplies.
  • Portea Medical Pvt. ltd. may raise upto Rs 1,000 crore via IPO. It is India’s largest healthcare provider.
  • Saudi Arabia’s Public Investment Fund is looking to buy stake in Tata Power’s green energy, power transmission and distribution businesses.
  • Three new proposals by Indian asset managers to launch ‘Metaverse funds’ may face regulatory hurdles from SEBI.
  • Wind energy PLI can boost renewables target: GE South Asia chief.
  • India is working on a unified policy for laying telecom cables.
  • Startups are turning to Debt as equity fundraising gets volatile.
  • Soaring gas prices fuels fights FedEx, Uber.
  • Travel agenices are witnessing 30% increase in last minute flight and travel bookings. Asian countries top international travel destinations for Indian tourists.
  • SS Rajamouli’s RRR clocks Rs 1,000 crore at global box office.

News Roundup

▫️Blinkit (formely Grofers) is finding it difficult to raise funds and run its operations and is now exploring merger option with Zomato.

▫️ Amazon alleged that Future Retail transferred retail outlet ownership to Reliance, despite submissions to contrary in the court.

▫️Tata Motors emerged as the top EV seller in 11 months of FY22.

▫️Crude oil prices plunged to their week low, below $100/barrel due to lockdown of Chinese cities amid spread of Covid19 in the country.

▫️ Government doesn’t have plans to spend much on recapitalisation of public sector banks in FY22.

▫️Centre is yet to release Rs 53,661 crore of GST compensation to states.

▫️OMCs may incur heavy loss during the March Quarter as the retail fuel prices remain freezed despite the sharp hike in global crude oil prices.

▫️No public sector bank posted loss for the 3 quarters to December 2021: Finance Ministry

▫️ Government has selected 75 companies for participation in Rs 25,938 crore PLI Scheme for automobile and components manufacturing.

▫️ Samsung to set up Rs 1,588 crore compressor plant in Tamil Nadu.

▫️ Blue Star, the air conditioner manufacturer has secured the semiconductor chip supply for next 3 years. Previously, the Company used to procure only for 6 months, but given the chip shortage it decided for a 3 year contract till 2025.

▫️ Chinese economy perked up in the first 2 months of 2022, beating analyst expectations. However, recent rise in Covid cases in the country will hinder the full year growth.

▫️Maersk to recover its 50,000 containers stranded in Russia.

▫️US consumer is estimated spend $1 trillion on online spends in 2022.

▫️World supply chain is facing two way shortage one from Russia Ukraine crisis and another from rise in Covid related restrictions in China.

▫️Munish Varma, managing partner at Softbank one of the marquee investors in PayTM resigned from the PayTM’s Board of Directors.

▫️Munish Varma is also expected to resign from the Policybazaar’s Board of Directors.

▫️Samsung to re-enter laptop segment in India, and aims to capture double digit market share by the year end.

▫️Data centre business to continue on a very high growth trajectory: Nxtra and JLL said in a joint study.

▫️After China, Vietnam and Germany are seeing resurgence in Covid, and are reporting more than 2 lakh cases per day.

▫️Cochin Shipyard will build a high capacity dredger for Dredging Corporation of India at a cost of $105 million.

▫️ According to recent study, India’s GenZ stays more than 8 hours online.

News Roundup: 14/1/2022

▫️ Government has selected 20 Auto companies for vehicle PLI Scheme (Suzuki, M&M, Tata Motors, Ashok Leyland, Bajaj Auto, Hero and TVS)

▫️ Govt. has clarified that taxing crypto currency doesn’t grant it a legal status.

▫️N Chandrasekaran gets reappointed as Tata Sons Chairman for next 5 years.

▫️ Industrial output growth nosedived to 10 month low of 0.4% in December.

▫️India to target zero diesel use in agriculture by 2024.

▫️India to sign trade deal with Australia within a month.

▫️PV sales dropped 8% in January as shortage of chips continued. Overall auto sales was down by 18.8% in Jan.

▫️Piramal Enterprises to demerge its pharma by year end.

▫️ Airtel witnessed 5 minute network across the country o n Friday. The company clarified it as technical glitch.

▫️ Hero Electric ties up with SBI for retail financing.

▫️Startups raised total sum of $35 billion in 2021.

▫️ Airtel backed OneWeb deployed 34 satelite. The Company now has 428 satellites in Earth’s orbit. This will ensure to offer end consumer high speed internet.

▫️ Jindal Steel and Power and Hindalco bagged coal mines in Orissa in auction.

▫️Non-food credit growth improved 8.3% in fortnight ended on January 28.

▫️Bank of Baroda to acquire Union Bank’s 21% stake in IndiaFirst Life.

▫️Ruchi Soya to come up with ₹4,300 crore FPO.

▫️Cloudnine filed IPO (Rs 1,200 crore) papers with SEBI.

▫️Chinese government fear of chip shortage as the US and Taiwan may prefer to supply chip in their own countries to meet local demand.

▫️US consumer sentiment index fell to 10-year low in February.

▫️UK economy expanded by 7.5% in 2022, best since world war II.

▫️Yes Bank board approves early redemption of Rs 1,764 crore bonds.

▫️ Brigade Group ti acquire TVS Motor’s acquire iconic property in Chennai.

▫️Hero Moto to join hands with Ather for EVs.

▫️ RBI accepts ATM penalty waiver appeal. This will help Banks, ATM Operators and managed service providers.

▫️Soyameal exports dipped by 64% in Oct-Jan, as farmers hold back stock.

▫️ Reliance aim’s to be the world’s largest blue hydrogen maker.

▫️ Corporate India delivered strong set of numbers in Q3, on the back of commodities boom.

▫️CIL clarified that it has enough coal stock available.

▫️ Big Indian Steel Companies to offer discount of Rs 2,500 to 3,000 per tonne to bulk customers.

▫️LIC has filed draft IPO papers with SEBI. The Govt. will sale 5% stake in the organisation in IPO.

▫️5G spectrum auction in May.

▫️SBI expects to recover Rs 8,000 crore from written off accounts.

▫️ Power Distribution companies outstanding dues dipped by 5.1% in. Feb.

▫️ Centre seeks to distribute Rs 16,500 crore to IL&FS creditors.

▫️Pacts worth Rs 3.05 lakh crore for solar energy has been signed in Rajasthan.

▫️ Domestic air traffic fell by 43% in January.

▫️New CSR mandate to increase compliance burden for corporates.

▫️IDBI Bank or LIC Housing Finance may have to abolish housing finance activity.

▫️Agri infra cess on crude palm oil cut to 5%.

▫️BPCL scraps planned Rs 1,130 crore polypols plant in Kochi.

▫️Health insurance claims during third covid wave remained low.

▫️FIIs have pulled out more than Rs 37,000 crore from India’s IT sector.