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▫️Adani Properties has withdrawn proposal to delist Adani Power.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.

News Bulletin: 16/9/2022

▫️Air India laid out roadmap to re-establish itself as world class carrier and achieve 30% domestic market share in 5 years.

▫️Fitch reduced India’s growth forecast to 7.0% from 7.8% for FY23.

▫️India will not provide any additional funds to debt laden Sri Lanka.

▫️ Domestic air passenger traffic grew by 5.0% to 10.2 million in August.

▫️SBI clarified that it is not the nodal bank for Ruppee trade with Russia.

▫️Saudi Arabia emerged as the second highest oil supplier to India in August.

▫️ Patanjali to come up with 5 IPOs for group companies.

▫️ Reliance Retail to double borrowing limit to Rs 5 trillion to fund rapid expansion of the business.

▫️UPL acquired 26% stake in clean energy firm Clean Max Kartos.

▫️Seller base of Flipkart is now at par with Amazon India.

▫️ British retail giant Tesco to hire more than 1,000 people for its Bengaluru tech centres.

▫️Shell to install 10,000 EV charging points by 2030.

▫️US factory output was up for second straight month in August.

▫️Canara Bank raised Rs 2,000 crore via bonds.

▫️SBI increased its benchmark prime lending rates by 30 bps.

News Bulletin: 15/9/2022

▫️ India’s wholesale price inflation dropped to an 11 month low of 12.41%.

▫️ Byju’s reported 20 times increase in net loss to Rs 4,588 crore.

▫️ Goldman Sachs downgraded Infosys and TCS to “Sell”, citing fall in revenue due to macroeconomic stress in western countries.

▫️TCS overtook HDFC Bank to become India’s most valuable brand.

▫️ India to soon start Ruppee trade with Russia.

▫️15% export duty imposed on steel to remain till December.

▫️Exports were marginally up in August, due to slowdown in demand from western nations.

▫️ Women’s share in MG-NREGS job surged to 56.1% in 2022.

▫️ Tata Power received Rs 596 crore project of constructing solar power project in Madhya Pradesh.

▫️Voltas sold 1.4 million units of airconditioner in India between Jan-Aug.

▫️BMW denied any plan to set up manufacturing unit in Punjab.

▫️UK inflation slowed down slightly to 9.9% in August, but still at 40 year high.

▫️Global funds are conserving cash amid macroeconomic uncertainty due to rising interest rates. Cash allocation of these funds are at 20 year high: Bank of America

▫️ Government to allow 5 MT of sugar exports in first trance, beginning October.

News Bulletin: 14/09/2022

▫️ Income tax department has clarified that newly introduced TDS provisions will not apply to loans waived through one time settlements and other schemes.

▫️HCL Tech laid off 350 workers, involved in its Microsoft project.

▫️ Govt. is considering to allow 100% work from home for all employees working in SEZs.

▫️IT companies are struggling with high subcontracting costs.

▫️JSW Steel signed MoU with German based SMS Group to invest Rs 10,000 in reducing carbon emissions.

▫️US reported 8.3% inflation for August, more than the analyst expectation of 8.1%.

▫️ Federal Reserve may go for 75 bps rate hike after August inflation data suprise.

▫️PM to introduce National Logistics Policy on September 17. The policy aims to allow seamless movement of goods across the nation.

▫️ Jet Airways CEO is positive on beginning operations by October.

▫️Infosys warned its employees of dual employment and moonlighting.

▫️Bharat Forge and Harbinger announced joint venture to develop electrified drive trains for commercial trucking industry.

▫️ Offline food & beverage industry and grocery stores to see 20% revenue growth this fiscal year: CRISIL

▫️Accor to open 26 hotels in India in 2 years.

▫️US power price jumped most in 41 years. Average consumer’s electricity bill increased by 15.8% year on year during August.

▫️ France lowered its GDP growth forecast to 1.0% from 1.4% for 2023.

▫️RBI to go for 35-50 bps rate hike in next meeting.

News Bulletin: 13/9/2022

▫️ Government to provide additional Rs 20,000 crore as subsidy to state run LPG retailers.

▫️Retail inflation in August rose to 7.0% from 6.7% in July.

▫️ Industrial output touched 4 month low of 2.4% in July.

▫️ National Highway construction dropped by 13% to 19.4 kilometre per day between Apr-Aug.

▫️M&M became 2nd largest player in SUVs in India.

▫️Air India to expand its fleet by introducing 30 new aircraft in the coming months.

▫️ Vedanta Group has finalized Gujarat to set up semiconductor manufacturing plant.

▫️Agri and processed food exports grew by 30% during April-July.

▫️Tata Consumer in talks to acquire stake in Bisleri.

▫️JSW Steel posted 22% growth in steel output in August.

▫️Airtel subsidiary Nxtra inked pact with Bloom Energy to deploy energy efficient data center in Karnataka.

▫️Google likely to manufacture Pixel phones in India.

▫️ HSBC Bank to materially raise staff competation in 2023.

▫️Goldman Sachs to cut hundreds of job this month.

▫️UK based Aberdeen plans to sell 2% stake in HDFC Life.

News Bulletin: 9/9/2022

▫️ Government to levy 20% export duty on non-basmati rice.

▫️ India’s ranking on human development index fell by one notch to 132.

▫️ CreditSights which alleged high debt ratio for Adani Group, has told there were errors in their reports and has revised the report.

▫️ Finance Minister claimed inflation control is not only RBI’s job but also government’s responsibility.

▫️IMD to work extensively on rain forecast to prevent flooding of cities.

▫️ India to push for Free Trade Agreement with Japan.

▫️2023 annual budget work to begin on October 10th.

▫️E-way bills reached all time high in August, reflect strong trade movement.

▫️ Government to acquire stake in Voda Idea after share price stabilises above Rs 10. This is in relation to conversion of Rs 16,000 interest liability to government in the form of equity.

▫️2W sales crossed 1 million mark for 6th month in a row.

▫️Edtech startup Lido filed for bankruptcy.

▫️ Auto retail sales was up 8% in August.

▫️Tata Power to set up 100MW solar unit in Maharashtra.

▫️Uber to offer bus rides in Gurgaon.

▫️EY to seperate its audit and consulting business.

▫️ Europe Central Bank made largest ever rate hike of 75 bps.

▫️M&M thrashed Tata Motors to become second most valuable Auto Company.

▫️HDFC Bank raised Rs 3,000 via bonds.

News Roundup: 7/9/22

▫️ Environment ministry provided 2-year extension to coal based power plants for complying with desulphurisation norms.

▫️ Govt to review the pricing mechanism of locally produced natural gas.

▫️ Moody’s retained India’s “Baa3” rating and “Stable” outlook.

▫️Bharat Biotech’s nasal vaccine for Covid-19 got emergency use approval.

▫️India to initiate comprehensive economic partnership agreement with Bangladesh.

▫️ Renewable energy companies to get their money faster from consumers: Crisil

▫️ Hyundai India is likely to cross its 2018 sales peak this year.

▫️ Reliance Retail is working to build up strong portfolio of brand offerings.

▫️E-2W companies expect 30% sales growth this festive season.

▫️Suzlon bagged 180MW wind energy project from Sembcorp.

▫️RIL to buy 79.4% stake in US based solar power software management firm SenseHawk.

▫️Adani Group released 15 page note, answering concerns about being overleveraged. The company claimed to have reduced its operating leverage in last 5 years.

▫️1MG becomes unicorn after raising $40 million at a valuation of more than $1 billion.

▫️Pieter Elbers former CEO of KLM, joined Indigo as its new CEO.

▫️Ready to eat food market is growing at rapid rate of 19% CAGR, thanks to changing lifestyle.

▫️Russia has increased its energy exports to Asia.

▫️US to set up chip manufacturing units with investment of $50 billion.

▫️ China’s growth to slowdown to 4.5% in next 10 years.

▫️ Aluminium prices reached 17 month low due to strong dollar and worries over economy slowdown.

News Bulletin: 6/9/22

▫️Liz Truss to become next British Prime Minister.

▫️Hiring in August reached 14 year high.

▫️ Services sector PMI rebounded sharply in August.

▫️ Government to sell residual 29% stake in Hindustan Zinc in tranches.

▫️ Government and RBI to extend necessary stimulus to support the economy: Finance Ministry

▫️ Hero electric was the leader in electric 2W sales in August.

▫️Rpower to raise Rs 1,200 crore in debt.

▫️SC granted relief to Adani Ports in bidding process in 2020 Vishakhapatnam Port Trust case.

▫️NTPC acquired 600-MW Jhabua Power Plant for Rs 925 crore.

▫️Tea exports during Jan-Jun increased to 97 million kg.

▫️Wheat stock with Food Corporation India dropped to 14 year low at 25 million tonne.

▫️Palm oil imports reached 11 month high as prices cooled down.

▫️ABFRL hopes to exceed revenue target of Rs 21,000 crore by 2026.

▫️Inox to scale up Food & Beverage business.

▫️Tata Motors positive on commercial vehicles sales outlook.

▫️Dixon to manufacture TV sets on Android and Google platform.

▫️China has locked down 33 cities which house 65 million residents on Covid fear.

▫️Federal Bank denied any merger talks with Kotak Mahindra Bank.

▫️Opec+ approved small cut in oil production.

News Bulletin: 5/9/22

▫️Former chairman of Tata Sons Cyrus Mystry died in a car accident.

▫️ WhatsApp, Skype, Google Meet and other social media apps may come under regulation and will require license for voice call services.

▫️Two wheeler firms offering discount to boost festive season sales.

▫️Govt. likely to introduce PLI scheme for furniture.

▫️Jio is leading player in 5G, and may get edge over Bharti.

▫️ Indian IT companies are facing pressure due to recession like conditions in western countries.

▫️FPI inflow in equities in August reached 20 month high.

▫️Govt. to initiate bidding for NMDC steel plant by March.

▫️Crop insurance scheme revamped for 2023-24 season.

▫️ Reliance-BP to get production storage vessel from South Korea. It will increase the productivity of RIL’s gas fields.

▫️ Germany announced $65 billion inflation busting package.

▫️ED raids offices of Paytm, Cashfree and Razorpay for alleged money laundering charges.

▫️ Wearables (bands, smartwatches) are hot selling items of this festive season.

▫️ Monsoon in India is above normal, except in North East.

▫️Hind Zinc signed deal for renewable power supply.

▫️NGT imposed Rs 3,500 crore on Bengal government for mishandling of waste.

▫️US announced $1 billion arms sale to Taiwan.

▫️TCS not to give any salary increment to new employees (less than 1 year experience).

▫️Adani Group’s debt reached Rs 2.6 trillion: Crisil

▫️Steel price to remain under pressure over global macroeconomic concerns.

▫️Morgan Stanley bought Rs 215 crore of ACC shares.

▫️Shyam Steel to set up new TMT mill in West Bengal.

▫️ Hiring activity was stable in August: Naukri

▫️ Holiday Inn and Holiday Inn Express will drive Indian Hotels Revenue: Company MD

News Bulletin: 2/9/22

▫️ Ministry of Corporate Affairs is looking to impose strict penalties on Startups who are delaying in publishing their financial results.

▫️ Moody’s slashed India’s growth forecast to 7.7% from 8.8% for 2022.

▫️Centre raised tax on export of diesel and jet fuel.

▫️ India’s manufacturing activity remained strong in August.

▫️ August power consumption increased by 2% in August.

▫️ Apparel exports rise 32% during April-June.

▫️SAIL supplied 32,000 tonne steel for INS Vikrant.

▫️ Unemployment rate peaked to 1 year high of 8.3% in August.

▫️Above normal monsoon rains in September: IMD

▫️ Import duty cut on edible oil extended till 2023.

▫️PV sales on robust lane, 2W dispatches rise ahead of the festive season.

▫️US curbed sale of chips to Russia and Taiwan.

▫️Domestic funds outperformed global funds in last 1 year.

▫️ Adani Enterprises entered Nifty50.

▫️Ashok Leyland won order to provide 1,400 school buses in UAE.