September 2, 2022 by BizWhiz Admin in Economy Snapshot 0 comments 136

General News

  • Jagdeep Dhankhar elected 14th vice president of India; highest poll-victory margin since 1997.
  • Monsoon session: Parliament adjourned sine die 4 days ahead of schedule, 5 Bills passed by both Houses.
  • Productivity of Lok Sabha was approximately 48% and that of Rajya Sabha was approximately 44%.
  • Justice Uday Umesh Lalit took oath as the 49th Chief Justice of India.
  • Government launches ‘Har Ghar Tiranga’ campaign amidst celebrations of 75th Independence day.
  • Made-in-India gun used for 1st time for ceremonial salute at Red Fort on Independence Day.
  • 107 Gallantry awards announced for Armed Forces and CAPF personnel.
  • PM Modi, French President Macron discuss Ukraine conflict and its destabilizing consequences for world.
  • Ajit Doval meets Russian counterpart Nikolai Patrushev; discuss bilateral, regional and global issues.
  • India, Thailand review defence, trade ties as Jaishankar visits Bangkok.
  • Maldives President Ibrahim Solih reaffirms ‘India-First’ policy during his visit, signs 6 agreements.
  • S Jaishankar meets US Secretary of State Antony Blinken on sidelines of ASEAN Ministerial Conference.
  • S Jaishankar embarks on a 3-nation visit to South America.
  • Rajnath Singh attends SCO Defence Ministers’ meeting at Tashkent, Uzbekistan.
  • Army Chief meets Bhutan King in Thimphu; focus on further boosting enduring strategic ties.
  • Dharmendra Pradhan on 4-day visit to Australia to strengthen Indo-Australian ties.
  • BJP rejigs Parliamentary board: B S Yediyurappa included, drops Nitin Gadkari, Shivraj Singh Chouhan.
  • Ghulam Nabi Azad quits from Congress party positions, including primary membership.
  • Rajnath Singh hands over multiple indigenous weapons to the Army to boost combat capability in Ladakh.
  • India holds talks with China over airspace breach along LAC in Ladakh.
  • India, Bangladesh hold defence talks in New Delhi; agree to elevate military engagements.
  • Government allows defence forces to buy emergency weapons through Make in India route.
  • DRDO and Indian Navy test fire indigenous Vertical Launch Short Range surface-to-air missile.
  • IAF terminate services of three IAF Officers for accidentally firing of BrahMos missile into Pakistan.
  • Goa 1st state to become ‘Har Ghar Jal’ certified; Dadra & Nagar Haveli and Daman & Diu 1st UT.
  • Maharashtra Cabinet expansion: CM Eknath Shinde gets 18 new ministers; 9 from BJP receive berths.
  • Nitish Kumar sworn in as Bihar CM for 8th time, Tejashwi his deputy after JD(U)’s ends alliance with BJP.
  • Delhi CM Arvind Kejriwal launches ‘India’s first virtual school’ for students from across the country.
  • Assam, Meghalaya agree to set up 3 regional committees to resolve border disputes in 6 sites.
  • Panel probing Jayalalithaa’s death submits report to Tamil Nadu government.
  • Jammu and Kashmir parties oppose allowing non-locals to vote in Assembly polls.
  • Shiv Sena MP Sanjay Raut arrested by ED in Patra Chawl scam case.
  • CBI lists Delhi Deputy CM Sisodia among 15 accused in FIR on alleged liquor excise scam.
  • West Bengal SSC scam case: Custody of Partha Chatterjee, Arpita Mukherjee extended till August 31.
  • India successfully test fires laser-guided anti-tank guided missiles in Maharashtra’s Ahmednagar.
  • India’s total COVID – 19 cases at 4.44 crore; 69.2% of population fully vaccinated.
  • Govt panel recommends Corbevax as booster for adults vaccinated with Covishield, Covaxin.
  • Lumpy skin disease in cattle spreads to over 9 states and UTs; 35,000 animals dead so far.
  • China relaxes visa ban for stranded Indian students after over two years delay.
  • World’s highest railway bridge ‘Golden joint’ launched on Chenab in J&K.
  • Monsoon triggers flashfloods in most states; northern and eastern parts of the country worst affected.
  • First grain shipment leaves Ukraine after months of Russian blockade.
  • Russia, Ukraine accuse each other of shelling at Zaporizhzhia nuclear plant.
  • Western countries pledge $1.55 billion in military aid to Ukraine.
  • Turkey’s Erdogan and the UN Chief met in Ukraine with President Zelenskyy in a bid to halt the conflict.
  • US gives $3 billion in military aid as Ukraine; announces $775 million arms package.
  • Ukraine’s Zelensky hosts forum of world leaders to rally support for the return of the Crimean Peninsula.
  • Nancy Pelosi meets Taiwan’s President Tsai Ing-wen; meets leaders in South Korea.
  • US, South Korea, Japan hold missile defense exercise with eye on North Korea, China.
  • Taiwan unveils record defence budget of more than $19 billion amid tensions with China.
  • US kills al Qaeda leader Ayman al-Zawahiri in drone strike in Afghanistan.
  • Anti-govt protests that led to ouster of Rajapaksa family in Sri Lanka end after 123 days.
  • Sri Lankan President present interim budget with major relief measures, talks with IMF in final stage.
  • Lanka’s Supreme Court extends overseas travel ban on Mahinda and Basil Rajapaksa till Sept 5.
  • Last Soviet leader Mikhail Gorbachev, who ended Cold War, dies aged 91.
  • Myanmar military extends emergency rule until 2023.
  • Monkeypox infections rise to over 49,900 cases, 15 deaths: WHO.
  • Commonwealth Games 2022: India finish 4th with 61 medals comprising 22 gold, 16 silver and 23 bronze.
  • 44th Chess Olympiad 2022: India ‘B’ team wins bronze in Open section; India ‘A’ women also finish third.
  • R Praggnanandhaa beats World no.1 Magnus Carlsen again but loses top prize in FTX Crypto Cup.
  • India win 5-match T20I series against West Indies by 4-1; clinches 3-match ODI series against Zimbabwe
  • Asia Cup 2022: Afghanistan and India qualify for Super 4.
  • ICC Men’s ODI Rankings: New Zealand top the chart while India remain on Third, Pakistan at Fourth.
  • Virat Kohli becomes 1st Indian to play 100 Matches in each format.
  • FIFA lifts ban on AIFF, India all set to host U-17 Women’s World Cup in October.
  • Manisha Kalyan becomes first Indian footballer to play in UEFA Champions League.

 

Business News

  • GST e-invoice to be mandatory for firms with turnover of ₹10 crore from October 1
  • Govt releases 5th instalment of revenue deficit grant of ₹7,183 crore to 14 states.
  • Centre approves continuation of Pradhan Mantri Awas Yojana-Urban up to Dec 2024.
  • Govt launches 2nd phase of Grameen Udyami Project to promote entrepreneurship amongst tribal youth.
  • Govt exempts excise duty on ATF purchases by Indian carriers for overseas flights.
  • ITR filing AY 2022-23: No last date extension, more than 5.8 crore ITRs filed till July 31.
  • Union Minister Nitin Gadkari inaugurates ₹23,000 crore road projects in MP.
  • Govt imposes restrictions on wheat flour exports to ensure food security.
  • PM Modi’s Economic Advisory Council releases ‘Roadmap for India@100’.
  • Maharashtra Cabinet approves more than ₹10,000 crore rise in cost of Mumbai Metro Line 3.
  • Odisha government approves 11 investment proposals worth ₹2,253.15 crore to create employment.
  • ATF price cut by steep 12%; commercial LPG reduced by ₹36.
  • Centre slashes Windfall Tax on petroleum crude, reintroduces levy on ATF, increase levy on diesel exports.
  • Price cap on domestic flight tickets removed; airlines to decide fares from today.
  • RBI hikes repo rates by 50 bps to 5.40%, highest since 2019; retains FY23 inflation projection at 6.7%.
  • HDFC files application with NCLT for merger of HDFC Investments, HDFC Holdings with HDFC Bank.
  • Uni Cards suspends existing services, cites recent RBI norms on digital lending.
  • RBI lifts restrictions on American Express; permits onboarding new customers on its card network.
  • Abu Dhabi Investment Authority invests ₹655 crore in Aditya Birla Health Insurance for 10% stake.
  • India’s first 5G spectrum auction ends, Govt nets ₹1,50,173 lakh crore.
  • Airtel inks pacts with Ericsson, Nokia, Samsung for 5G services rollout.
  • Bharti Airtel pays ₹8,312.4 crore to DoT, clears 4-year instalment in advance.
  • Reliance announces partnership with Qualcomm to develop digital infrastructure.
  • Microsoft joins Govt’s Open Network for Digital Commerce to launch social e-commerce in Indian market.
  • Govt allows retro-fitment of CNG and LPG kits in BS-VI compliant vehicles.
  • India’s first Hydrogen fuel cell bus unveiled; only effluent from bus to be water
  • Tata Motors electric subsidiary buys Ford’s Sanand plant for ₹725 crore.
  • Mahindra unveils five electric SUVs to fast-track EV shift.
  • Suzuki Motor kick starts construction of EV battery manufacturing facility in Gujarat.
  • Ola debuts its first EV car on Independence Day; to have more than 500 kms range, 0 to 100 in 4 seconds.
  • Switch Mobility unveils country’s first electric double-decker air-conditioned bus.
  • McLaren to enter Indian market later this year, partners Infinity Cars.
  • Civil Aviation Ministry lifts price caps on air fare from August 31.
  • Aviation Ministry exempts Boeing 787 aircraft from GAGAN compliance till 2025.
  • India’s new Akasa Air commences operations, first flight starts on Mumbai-Ahmedabad route.
  • Air India to allow pilots to fly till 65 years amid expansion of fleet size.
  • SpiceJet enters full and final settlement with AAI, clears all outstanding principal dues.
  • India buys discounted Venezuelan petcoke to replace coal
  • Assam Khagorijan oil field resumes operations after nearly 15 years.
  • Godrej Agrovet signs MoUs with Assam Manipur and Tripura state govts for oil palm cultivation.
  • Adani steps into NDTV with 29%, to launch open offer for 26% more.
  • Road, shipping, rail ministry arms sign agreement to develop Multi Modal Logistics Parks.
  • Future Retail receives claims worth ₹21,000 crore from 33 financial creditors.
  • Adani makes ₹31,000 crore open offer to buy 26% stake in ACC, Ambuja Cements.
  • Noida Supertech towers brought down in the biggest demolition of its kind in the country.
  • ICMR shortlists 29 companies for monkeypox vaccine, kits.
  • Bharat Biotech completes trials for India’s first intranasal COCID vaccine.
  • Dolo-650 makers spent ₹1,000 crore on doctors for prescribing drug’: SC asks Centre to file a reply.
  • Corbevax approved as booster dose for adults jabbed with Covishield, Covaxin.
  • India, UK end fifth round of FTA talks, deal likely to double bilateral trade to $100 billion by 2030.
  • US-Taiwan trade talks kick off in long-planned counter to China.
  • Hong Kong slips into recession as COVID measures weigh on economic activity in Q2.
  • India extends $100 million line of credit to Maldives; Greater Male connectivity projects launched.
  • China hits Taiwan with trade restrictions after Pelosi’s visit.
  • At 10.1%, UK inflation hits double digits for the first time in 40 years.
  • India achieves landmark milestone with over 75,000 start-ups recognised so far.
  • Microsoft partners with MSDE and CBC to provide digital literacy training to 2.5 million civil servants.
  • Samsung heir Lee Jae-yong granted special presidential pardon.
  • Johnson & Johnson drops talcum baby-powder globally as lawsuits mount.
  • PhonePe, Tally, NSDL get RBI’s in-principle nod to operate as account aggregators.
  • Apple suppliers to make Apple Watch and MacBook in Vietnam.
  • Amazon acquires Roomba-maker iRobot Corp for about $1.7 billion.
  • Revenue Secretary Tarun Bajaj gets additional charge of Corporate Affairs Secretary.
  • Paytm shareholders approve Vijay Shekhar Sharma’s reappointment as MD for five years.
  • Billionaire investor and Akasa air owner Rakesh Jhunjhunwala passes away.

 

Q1 Results

  • SBI Q1 net profit down 6.7% at ₹6,068 crore; NII rose 12.87% YoY to ₹31,196 crore.
  • ITC Q1 Consolidated net profit zooms 34% to ₹4,390 crore, revenue up 39% to ₹19,831.27 crore.
  • M&M Q1 net profit rises 67%, YoY to ₹1,430 crore, revenue increased by 67% to ₹19,613 crore.
  • Bharti Airtel Q1 profit zooms 467% YoY to ₹1,607 crore, revenue rose 22.2% to ₹32,805 crore.
  • LIC Q1 net profit climbs 232 times to ₹683 crore, net premium income jumps over 20% to ₹98,352 crore.
  • Hero MotoCorp Q1 profit surges 71% YoY to ₹625 crore; revenue rises 53% to ₹8,393 crore.

 

WORLD INDICES
Indices 31-Aug 29-Jul % 1M 04-Jan % since Jan
BSE 59537 57570 8.58% 59856 -0.53%
NSE 17759 17158 3.50% 17805 -0.26%
DOW 31510 32845 -4.06% 36800 -14.37%
NASDAQ 11816 12391 -4.64% 15623 -24.37%
FTSE 7284 7423 -1.88% 7505 -2.94%
Nikkei 28092 27802 1.04% 29302 -4.13%
Hang Seng 19954 20157 -1.00% 23290 -14.32%
Straits Times 3222 3212 0.31% 3181 1.27%
Shanghai 3202 3253 -1.57% 3632 -11.84%
USD 79.55 79.25 0.37% 74.55 6.70%
Euro 79.74 81.01 -1.56% 84.15 -5.24%
GBP 92.17 96.43 -4.42% 100.91 -8.66%
Yen/100INR 0.57 0.60 -4.20% 0.64 -11.28%
Gold 50740 51430 -1.34% 47950 5.82%
Silver 53600 58352 -8.14% 62247 -13.89%
Crude Brent $ 95.57 104.00 -8.11% 79.77 19.81%
Crude Nymex $ 88.49 98.30 -9.98% 76.80 15.22%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
31-Aug 39537 28408 13217 43821 12699
29-Jul 37491 29152 12543 42487 12777
% 1M 5.46% -2.55% 5.37% 3.14% -0.60%
04-Jan 36840 39371 11139 37800 14041
% since Jan 7.32% -27.85% 18.65% 15.93% -9.55%

INDIAN TRADE(USD MILLION)
Exports in ($ Bn) 36.27
Imports ($ Bn) 66.27
FDI 3735
Government Bond 10Y 7.17%
GDP YoY 13.50%
Inflation Rate 6.71%
Forex Reserves ($ Bn) 564053
IIP % 2.30%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII(Rs. crore) MF(Rs. crore)
Equity 49,388 (1,493)
Debt 4,370 4,786
Total 1 M 53,758 3,293
Total Since Jan (1,54,999) 1,15,518
Equity (1,45,631) 1,22,373
Debt (9,368) (6,855)

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