March 1, 2021 by BizWhiz Admin in Economy Snapshot 0 comments 589

General News

  • Assembly elections to be held between 27th March to 29th April; counting will take place on 2nd May.
  • Tamil Nadu, Kerala and Puducherry to vote in 1 phase; Assam in 3 phase voting, West Bengal in 8 phase.
  • India’s COVID-19 tally reaches 11.11 million with over 216 million tests done; Recovery rate stands at 97.05%.
  • Over 14 million administered COVID-19 vaccines in the country so far.
  • Global COVID-19 cases tops 114 million with 2.54 million deaths.
  • Dr Harsh Vardhan launches Mission Indradhanush 3.0, to focus on children, women’s vaccine doses.
  • Made in India COVID vaccines were supplied to 25 nations and 49 countries across the world: S Jaishankar.
  • Centre issues fresh guidelines for international travellers as new strains found in India.
  • Nepal, India jointly inaugurate road link connecting Indo-Nepal border.
  • India, Qatar hold fourth foreign office consultations, exchange views on issues of mutual interest.
  • Govt launches pilot survey on drinking water in 10 cities under the Jal Jeevan Mission.
  • PM Modi, Afghan President hold virtual summit; MoU signed on construction of Shahtoot dam project.
  • PM Modi speaks to US President Biden, discuses regional issues, climate change and strategic partnership.
  • India signs $50 million defence agreement with Maldives to boost maritime capability.
  • Quad’s 3rd ministerial meeting today, to discuss work towards inclusive Indo-Pacific.
  • Protesting farmers announce series of events from February 23, to intensify agitation against Farm Laws.
  • PM Modi hands over Arjun Main Battle Tank (MK-1A) to Indian Army at Chennai.
  • Defence Minister Rajnath Singh inaugurates HAL’s second Light Combat Aircraft production line.
  • Govt formally seals ₹48,000 crore deal to procure 83 Tejas LCA from HAL.
  • CRPF inducts 34 women commandos in its elite Commando Battalion for Resolute Action (CoBRA) unit.
  • India reserves ₹70,000 crore of the defence budget of ₹1.35 trillion for domestic defence procurements.
  • Mallikarjun Kharge to be Leader of Opposition in Rajya Sabha as Ghulam Nabi Azad’s term ends.
  • First phase of Budget Session ends, Lok Sabha adjourned till March 8.
  • Rajya Sabha passes J&K Reorganisation (Amendment) Bill, 2021; Major Port Authorities Bill 2020.
  • PM Modi inaugurates India’s first virtual Toy Fair 2021, pushes for use of less plastic.
  • Maharashtra govt imposes fresh lockdowns as daily COVID cases cross 5,000.
  • In poll-bound Tamil Nadu, state govt announces ₹12,110 crore farm loan waiver.
  • UP Govt presents first paperless Budget of ₹5.5 lakh crore in Assembly to make State “Aatmanirbhar”.
  • Ram temple trust deploys `3-tier system` to monitor transparency as donations cross ₹600 crore mark.
  • Right to protest cannot be anytime and everywhere: SC on Shaheen Bagh CAA protests.
  • National Herald case: Delhi High Court notice to Sonia and Rahul Gandhi, seeks reply by April 12.
  • CBSE board exams 2021 to be held from May 4 to June 10, results by July 15: Education Minister.
  • 4G mobile internet services being restored in entire J&K after 18 months.
  • Kiran Bedi relieved as Puducherry Lt Governor; CM Narayanasamy resigns after failing to prove majority.
  • Union Cabinet approves President’s Rule in Puducherry as BJP, allies did not stake claim.
  • Glacier breaks in Uttarakhand’s Joshimath: Death toll rises to 72, rescue operation underway.
  • WHO concludes investigation of origin of COVID-19 virus in Chinese city Wuhan.
  • China calls for COVID-19 origin tracing in US after WHO probe in Wuhan.
  • WHO authorises AstraZeneca’s COVID-19 vaccine for emergency use.
  • UNICEF, Serum Institute of India enter into long-term supply for COVID-19 vaccines.
  • US House passes $1.9 trillion COVID-19 relief package, sends it to Senate.
  • US extends new Strategic Arms Reduction Treaty with Russia for 5 years.
  • Joe Biden discusses Coronavirus, Hong Kong, Xinjiang in his first conversation with President Xi Jinping.
  • US Senate acquits former President Donald Trump in impeachment trial for Capitol Hill riots.
  • Pakistan to remain on FATF ‘grey list’ till June, asked to address ‘strategic deficiencies’.
  • Myanmar’s Suu Kyi detained in military coup, 1-year emergency declared.
  • Nepal’s Supreme Court reinstates parliament dissolved by PM Oli in December last year.
  • More than 2000 Rohingya refugees sent to newly developed Bhashan Char relocation centre in Bangladesh.
  • China, Hong Kong ban BBC World News from broadcasting for violating reporting guidelines.
  • Japan starts vaccine rollout with healthcare workers as Olympics approach.
  • Angela Merkel, German governors to decide on extending COVID-19 lockdown beyond February.
  • NASA lands Perseverance rover on the Mars surface, carrying the first helicopter for another planet.
  • IND vs ENG: India takes 2-1 lead in 4-Match Test Series.
  • NZ vs AUS: New Zealand edge Australia by four runs in second T20, lead 5-Match series 2-0.
  • Rishabh Pant, Shabnim Ismail win inaugural ICC Player of the Month Awards for January 2021.
  • Australian Open 2021: Novak Djokovic wins his ninth title; Naomi Osaka her Fourth Grand Slam Title.
  • IPL Auction: Chris Morris most expensive player ever; sold to Rajasthan Royals for ₹16.25 crore.

 

Business News

  • Nirmala Sitharaman presents first ever Union Budget digitally; Fiscal deficit for FY21 pegged at 9.5% of GDP, 6.8% for FY22.
  • Capital expenditure hiked 34.5% to ₹5.54 lakh crore in FY’22 to push growth.
  • Health & well-being budget outlay at ₹2.23 lakh crore; ₹64,180 crore Atmanirbhar Health Yojana unveiled.
  • FM allocates ₹20,000 crore for bank recapitalisation, proposes AMC-ARC for NPAs.
  • Agri credit target raised to ₹16.5 lakh crore for FY22; FM reassures commitment to MSP and APMCs.
  • Centre imposes agri infra cess of ₹2.5 on Petrol, ₹4 on Diesel; cuts import tax on gold, silver to 7.5%.
  • Defence Ministry allocated ₹4.78 lakh crore; Home gets ₹1.66 lakh crore; ₹1,10,055 crore for Railways.
  • Govt announces voluntary vehicle scrapping policy; to phase out old and unfit vehicles.
  • Centre announces guidelines & digital media ethics code for digital and social media platforms.
  • MCA signs pact with Central Board of Indirect Taxes and Customs for data exchange.
  • RBI maintains status quo for fourth time in a row; keeps repo rate static at 4%.
  • Embargo lifted on grant of Govt business to private banks. All banks can now participate.
  • India’s WPI inflation rises to 2.03% in January – highest in 11 months on the back of higher fuel prices.
  • BPCL, Air India share sale by September; LIC IPO-post October: DIPAM Secretary.
  • Finance Ministry permits 4 states to borrow additional ₹5,034 crore post ease of doing business reforms.
  • Petrol, diesel price at fresh high; oil company says government can cut taxes to ease consumer burden.
  • Assam Govt removes COVID cess on petrol & diesel; removes 25% COVID-19 cess on liquor.
  • All lanes in fee plazas on National Highways to be declared as FASTag lane from February 15th midnight.
  • DGCA allows airlines to charge 10-30% more for domestic flights with immediate effect.
  • Government extends ban on commercial international flights till March 31.
  • DGCA allows airlines to provide concession in air fares to customers with no baggage.
  • Deadline for filing declaration under ‘Vivad Se Vishwas’ scheme extended till March 31.
  • India’s stock market now 7th biggest in the world as BSE market cap surges to $2.7 trillion.
  • Technical glitch halts NSE trading, resumed later in the same day.
  • Indigo Paints, Home First Finance Company, Rail Tel debut in stock market.
  • Bank of England holds interest rates held at but warns they could go negative.
  • Bitcoin hits $1 trillion market cap, surges above $56,000.
  • Ether hits $1,800 for first time as market cap crosses $200 billion.
  • India, EU talk restarting bilateral trade, investment pact with interim agreement.
  • Bharat Biotech inks pact with Ocugen for development, sale of Covaxin in US.
  • Biocon Biologics partners with International Diabetes Federation.
  • Dr Reddy’s begins process to obtain emergency use authorisation for Sputnik V.
  • China approves 16 locally-made COVID-19 vaccines for clinical trials.
  • Cabinet approves PLI scheme for telecom sector worth ₹12,195 crore.
  • Tata Communications partners Google to ease cloud adoption by enterprises.
  • Bharti Airtel ties up with Qualcomm for 5G services in India.
  • HCL inks 5-year Digital Workplace Services agreement with Airbus.
  • TCS enhances ties with Amazon Web Services, launches new TCS AWS Business Unit (BU).
  • Ford, Google join hands to offer cloud-based data services.
  • Ashok Leyland buys Nissan’s 38% stake in Hinduja Tech for ₹70 crore.
  • Australia passes landmark law requiring Google, Facebook to pay for news.
  • Facebook signs preliminary pay deals with three Australian news publishers.
  • Apple Pauses Electric Car Talks With Hyundai and Kia.
  • Tesla to set up electric car manufacturing plant in Karnataka: CM Yediyurappa.
  • Airbus signs MoU with GMR Group to collaborate on aviation services in India.
  • HAL, Wipro3D collaborate to manufacture metal 3D printed aircraft engine component.
  • Australia lifts ban on Boeing 737 MAX, first in Asia-Pacific region.
  • Lockheed Martin inks pact with HAL to explore potential industrial collaboration in India.
  • SpaceX launches world’s first all-civilian astronaut mission.
  • UK revokes license of Chinese state-owned broadcaster CGTN.
  • Tata Group acquires 68% stake in online grocery major BigBasket for ₹9,500 crore.
  • Amazon acquires Australia-based Selz, a platform allowing users to launch online stores.
  • PayPal to shut shop in India from April 1, focus on global customers.
  • Mastercard and Razorpay partner to make digital payments more accessible for MSMEs and startups.
  • Haldiram’s partners with Futurelife to bring nutritional product range to India.
  • Airtel enters advertising business; launches adtech platform with brand engagement services.
  • Apple partners with Taiwan Semiconductor Manufacturing Co to develop micro OLED displays.
  • Wikipedia launches first global code of conduct to stem misinformation.
  • ixigo acquires train booking app Confirmtkt.
  • Sandes, alternative to WhatsApp & other instant messaging apps launched by National Informatics Centre.
  • Chanda Kochhar gets bail in PMLA case, asked not to leave country without court’s permission.
  • Nirav Modi guilty on all charges, can be extradited to India: UK Court.
  • Vijay Mallya allowed some access to UK court-held funds to meet legal, living expenses.
  • Nigeria’s Ngozi Okonjo-Iweala becomes first woman and first African to lead WTO.
  • Jeff Bezos to become executive chairman later this year, Andy Jassy to takeover as Amazon CEO.
  • Marc Llistosella appointed as new Tata Motors CEO, MD as Guenter Butschek steps down.
  • Honda CEO Takahiro Hachigo to step down, be replaced by R&D chief Toshihiro Mibe.
  • Hero MotoCorp sets up a new vertical for Harley-Davidson in India; to be headed by Ravi Avalur.

 

Q3 Results

  • SBI Q3 standalone net profit falls 7% to ₹5,196.22 crore, consolidated profit down 6% at ₹6,402.16 crore.
  • PNB Q3 net profit declines 18% to ₹506 crore; NII falls marginally to ₹8,313 crore.
  • Ashok Leyland reports Q3 net loss of ₹19 crore due to VRS cost of ₹85 crore, revenue at ₹ 4,813.51 crore, .
  • Mahindra’s Q3 net profit grows 42% to ₹1,268 crore, revenue up 11% to ₹21,625.95 crore.
  • Hero MotoCorp Q3 consolidated PAT up 14% at ₹1,029 crore, revenue rises 39% to ₹9,827 crore.
  • Divi’s Labs Q3 net profit rises 31% to ₹471 crore, Total consolidated income stood at ₹1,720.76 crore.
  • SpiceJet reports Q3 net loss of ₹57 crore, revenue fell 53.7% to ₹1,691 crore.
  • ITC Q3 profit falls 11% YoY to ₹3,587 crore, consolidated revenue rose to ₹14,124 crore.
  • Vodafone Idea Q3 loss narrows to ₹4,532 crore, revenue down 2% YoY to ₹10,849.1 crore.

 

WORLD INDICES
Indices 28-Feb 29-Jan %1M 01-Jan % since Jan
BSE 49100 46286 6.08% 41306 18.87%
NSE 14529 13635 6.56% 12183 19.26%
DOW 30932 29983 3.17% 28538 8.39%
NASDAQ 13192 13071 0.93% 8973 47.03%
FTSE 6483 6407 1.19% 7542 -14.04%
Nikkei 28966 27663 4.71% 23657 22.44%
Hang Seng 28980 28284 2.46% 28190 2.80%
Straits Times 2949 2903 1.60% 3223 -8.50%
Shanghai 3509 3483 0.75% 3050 15.05%
USD 73.47 72.95 0.71% 71.22 3.15%
Euro 88.73 88.54 0.21% 79.94 11.00%
GBP 102.39 100.05 2.33% 94.36 8.51%
Yen/100INR 0.69 0.70 -1.09% 0.66 5.19%
Gold 45767 49106 -6.80% 39067 17.15%
Silver 67475 69765 -3.28% 46665 44.59%
Crude Brent $ 66.13 55.88 18.34% 66.29 -0.24%
Crude Nymex $ 61.50 52.20 17.82% 61.30 0.33%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
28-Feb 34804 24301 10170 32443 11928
29-Jan 30566 24646 9813 33121 12170
% 1M 13.87% -1.40% 3.64% -2.05% -1.99%
01-Jan 32103 15722 8210 30234 8047
% since Jan 8.41% 54.57% 23.87% 7.31% 48.23%

INDIAN TRADE(USD MILLION)
Exports 27450
Imports 41990
FDI 5746
Government Bond 10Y 6.23%
GDP YoY 6.23%
Inflation Rate 6.23%
Forex Reserves $ M 583865
IIP % 7.80%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs. crore) MF (Rs. crore)
Equity 27,919 (14,463)
Debt (14,463) 629
Total 1 M 22,489 (13,834)
Total Since Jan 37,872 (18,229)
Equity 46,775 (30,188)
Debt (8,903) 11,959

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