March 3, 2022 by BizWhiz Admin in Economy Snapshot 0 comments 249

General News

  • Assembly Elections 2022: 78.94% voter turnout recorded in Goa, 62.5% in Uttarakhand, 65.50% in Punjab.
  • UP Assembly Elections 2022 Phase 1: 60.17% , Phase 2: 60.44%, Phase 3: 61.02% and Phase 4: 59.77%, Phase 5: 53.98%. Manipur Phase 1: 78.03%.
  • First leg of Budget Session concludes, both Houses adjourned till March 14.
  • India’s energy needs to double in next 20 years: PM Modi at World Sustainable Development Summit.
  • PM Modi holds India-UAE virtual summit with Abu Dhabi Crown Prince, release roadmap to boost ties.
  • India France sign roadmap to enhance bilateral exchanges on blue economy and ocean governance.
  • India, Maldives hold dialogue to expand defence cooperation.
  • India-EU hold 2nd maritime security dialogue; both commit to inclusive, rules-based Indo-Pacific.
  • US announces Indo-Pacific strategy to support India’s continued rise and regional leadership.
  • Jaishankar, British counterpart Liz Truss discuss India-UK ‘Roadmap 2030’, Ukraine.
  • Saudi Arabia land forces Commander calls on Army chief Naravane on first visit to India.
  • Oman Defence Ministry’s Secretary General calls on Air Chief Marshal, discusses bilateral ties.
  • Govt creates post of Maritime Security Advisor, Vice Admiral Ashok Kumar takes Charge.
  • 40 countries take part in Indian Navy’s multilateral exercise MILAN 2022.
  • Army Chief MM Naravane discusses bilateral defence cooperation with Australian counterpart.
  • 3 more Rafale jets arrive in India from France, total 35 of 36 aircraft acquired.
  • Defence Ministry makes induction of women fighter pilots in IAF a permanent scheme.
  • ISRO successfully launches PSLV-C52 carrying ‘earth observation’ & 2 other satellites.
  • PM CARES Fund corpus triples to ₹10,990 crore in FY 2020-21; disbursal rises to ₹3,976 crore.
  • Centre approves ₹26,275-crore police modernisation scheme for five more years from 2021-22 to 2025-26.
  • Centre approves ‘Education for all’ scheme for non-literates of 15 years above.
  • Home Ministry bans 54 Chinese apps citing security concerns.
  • J&K delimitation Panel proposes 17 Assembly seats in Jammu, 12 in Kashmir; gets time to redraw map.
  • Telangana CM K Chandrasekhar Rao meets Sharad Pawar, Uddhav Thackeray, discusses ‘anti-BJP front’.
  • PM Modi unveils giant ‘Statue of Equality’ in remembrance of Saint Ramanujacharya in Hyderabad.
  • Lalu Yadav gets 5 years in jail in fodder scam case, fined ₹ 60 lakh; CBI court convicts 74 others.
  • ED arrests Nawab Malik in money laundering case linked to Dawood Ibrahim.
  • SC refuses to hear plea challenging Karnataka HC interim order on Hijab row.
  • CBSE to conduct 2nd term board exam for classes 10, 12 in offline mode from April 26.
  • India, Nepal sign MoU to construct motorable bridge across Mahakali river in Dharchula.
  • Jal Jeevan Mission achieves milestone of providing tap water to 9 crore rural homes in the country.
  • India’s total tally of COVID-19 cases rises to 4,29,31,045, death toll climbs to 5,14,054.
  • Cumulative COVID-19 vaccine doses administered in India cross 177 crore.
  • Centre asks states, UTs to end additional COVID curbs amid decline in cases.
  • Govt removes ‘At Risk’ marking for countries with high Omicron caseload.
  • India’s melody queen Lata Mangeshkar, Bappi Lahiri, Rahul Bajaj passed away.
  • India abstains from procedural vote ahead of discussion on Ukraine at UN Security Council.
  • President Putin accuses West of deliberately ignoring Russia’s security concerns over Ukraine.
  • Putin recognises Ukrainian separatist regions as independent nations; EU, UK, Australia, Canada, Japan impose sanctions.
  • Germany suspends Nord Stream 2 gas pipeline Project Approval for Russia.
  • Russia’s Vladimir Putin announces military operation in Ukraine.
  • Ukraine’s military retaliates; tens of thousands civilians flee their homes.
  • Russian President Vladimir Putin orders military command to put nuclear deterrent forces on high alert.
  • First round of peace talks between Ukraine & Russia end with no agreements; second round scheduled.
  • India abstains from UNSC resolution against Russian aggression; Russia vetoes resolution.
  • NATO bolsters arms supply to Ukraine with anti-tank weapons; US approves $350 million in military aid.
  • Global COVID-19 caseload tops 437 million, fatalities at 5.97 million.
  • One Ocean Summit: More than 100 nations commit to take action to save oceans from human harm.
  • US approves appointment of Masood Khan as Pakistan’s envoy to Washington.
  • Biden signs order to split $7 billion frozen Afghan funds to 9/11 victims, humanitarian relief.
  • Pakistan allows Indian humanitarian relief passage to Afghanistan.
  • Bill Gates make his first-ever visit to Pakistan, discusses health issues with PM Imran Khan.
  • Pakistan PM Imran Khan to visit Russia on Wednesday, first visit by Pakistan premier in 23 years.
  • Truckers end U.S. border blockade Canadian PM declares end of 10-day state of emergency.
  • South Korea, US, Japan commit to close coordination against North Korean missile threats.
  • Myanmar’s Ousted Leader Suu Kyi slapped with the 11th corruption charge, faces 150 years in prison.
  • Queen Elizabeth marks 70 years on the throne; backs Camilla as Queen Consort.
  • India vs West Indies: India sweep ODI and T20 series 3-0.
  • India vs Sri Lanka: IND register historic 12th consecutive T20I win, clinch series sweep over SL.
  • Rohit Sharma replaces Virat Kohli as India’s new Test captain.
  • India climbs to top spot in ICC T20 rankings after series sweep over WI.
  • ICC Women’s ODI Rankings: Mithali Raj climbs to second spot, Smriti Mandhana retains sixth position.
  • IPL 2022 to be played across four venues in Mumbai and Pune, final on May 29.
  • ICC U-19 Cricket World Cup 2022: India beat England by 4 wickets in finals to win record-extending 5th title.
  • Beijing 2022 Opening Ceremony starts with spectacular ‘Beginning of Spring’ sequence.
  • Arif Khan finishes 45th out of 89 competitors in giant slalom of 2022 Beijing Winter Olympics.
  • Norway tops Winter Olympics medals table with 37 followed by Germany(27) and China(15).

 

Business News

  • RBI keeps repo, reverse repo rates unchanged at 4% and 3.35%, respectively for 10th time in a row; pegs FY22 GDP growth at 9.2%.
  • Centre releases revenue deficit grant of ₹9,871 crore to 17 states.
  • Food Processing Ministry gives nod to 83 proposals for incentives under PLI scheme.
  • Govt receives 5 proposals for semiconductor % display manufacturing under the ₹76,000 crore PLI scheme.
  • Govt to develop 22 Greenfield Expressways, 23 key infrastructure projects & 35 Multi-Modal Logistics Parks.
  • Govt bans import of foreign drones, lists exceptions; scraps requirement of drone pilot license.
  • Karnataka approves 88 industrial projects worth ₹ 2,367.99 crore.
  • Suzuki, Hyundai, Tata Motors among 20 companies selected for sops under Auto PLI scheme.
  • Govt makes seatbelts mandatory for all cars carrying up to 8 passengers.
  • Centre makes helmet, safety harness a must for kids riding pillion.
  • Govt approves up to 20% FDI in LIC under automatic route.
  • Indian government pays Cairn Energy PLC ₹7,900 crore to settle retro tax dispute.
  • Adani Wilmar, Manyavar-owner Vedant Fashions make their market debut.
  • TCS approves ₹18,000 crore share buyback; February 23, 2022, fixed as the record date.
  • Centre places purchase order for 5 crore doses of Corbevax Covid vaccine each costing ₹145 sans tax.
  • Govt approves EUA for Sputnik Light and BE’s Covid jab Corbevax for 12-18 years age group.
  • DGCI gives nod to SII’s proposal to manufacture vaccine against omicron for test, analysis.
  • Zydus Cadila starts supplies of its anti-COVID vaccine ZyCoV-D to government, priced at ₹265 per dose.
  • Eli Lilly’s new antibody drug to fight Omicron receives US FDA authorization.
  • Canada authorises Medicago’s 2-dose vaccine, first plant-based COVID-19 vaccine for adults aged 18 to 64.
  • IIFL Home Finance signs $68 million loan with ADB; to boost affordable green housing in India.
  • Blackstone acquires majority stake in wealth management firm ASK from Advent, others.
  • Tata Teleservices withdraws plan to convert its accrued interest on deferred AGR dues into govt equity.
  • Airtel joins SEA-ME-WE-6 undersea cable consortium to scale up high-speed network.
  • Jio Platforms invests $200 million in internet company Glance for 17% stake.
  • Jio’s subsea cable system IAX to connect Maldives to India, Singapore.
  • Biden administration rolls out $5 billion funding plan to states for electric vehicle chargers.
  • Jaguar Land Rover ties up with Nvidia to develop software for SUVs.
  • Tesla to accept Dogecoin as payment at Supercharging station.
  • IL&FS resolves ₹324 crore debt by selling stake in Warora Chandrapur Highway.
  • CBI interrogates Former NSE Chief Chitra Ramkrishna, accused of sharing info with Himalayan Yogi.
  • ₹18,000 crore returned to banks in cases related to Vijay Mallya, Nirav Modi & Mehul Choksi: Govt to SC.
  • Karnataka HC strikes down state’s prohibition on online gaming involving money.
  • Gujarat-based ABG Shipyard accused of defrauding 28 banks of Rs 22,842 crore by CBI.
  • Oil prices surge above $100 a barrel for first time in 8 years as Ukraine crisis escalates
  • Sri Lanka imposes rolling power cuts as economic crisis worsens.
  • EXIM Bank signs $500 million LoC agreement with Sri Lanka.
  • China imposes sanctions on US defense giants Lockheed, Raytheon over Taiwan deal.
  • India, UAE signs a free trade pact, to almost double two-way trade to $100 billion in the next five years.
  • IMF approves $1 billion loan tranche for Pakistan.
  • France become the first country to join China to build $1.7 billion global infra projects.
  • Pakistan signs new pact with China to kick off 2nd phase of CPEC.
  • Vedanta signs up with Foxconn to manufacture semiconductors in India.
  • Intel agrees to $6 billion deal to buy Israel’s Tower Semiconductor Ltd.
  • Former US President Donald Trump’s Truth Social app launches on Apple App Store.
  • Amazon India signs MoU with Karnataka govt to turn rural women into entrepreneurs.
  • Online health and fitness platform Cult.fit acquires Gold Gym fitness chain across India.
  • Ravi Mital appointed head of Insolvency and Bankruptcy Board of India.
  • Madhabi Puri Buch appointed as SEBI India Chairperson for a term of 3 years.
  • N Chandrasekaran gets extension as Chairman of Tata Sons for 5 years.
  • Former Turkish Airlines Chairman Ilker Ayci named Air India CEO.
  • IndiGo appoints co-founder and promoter Rahul Bhatia as MD; Rakesh Gangwal resigns from board.
  • Former Sri Lankan Airlines CEO Vipula Gunatilleka appointed as Jet Airways CFO.
  • Sanjeev Sanyal inducted into Economic Advisory Council to PM.
  • World Bank’s India head Junaid Ahmad appointed Vice President, Operations

 

Q3 Results

  • SBI Q3 profit jumps 62% YoY to ₹8,432 crore on lower provisions, NII increased 6.48% to ₹30,687 crore.
  • Bank of Baroda Q3 net profit doubles to ₹2,197 crore on lower provisions, NII jumps 14% to ₹8,552 crore.
  • HDFC Q3 net profit rises 11% YoY to ₹3,261 crore, NII rose 5% to ₹4,284 crore.
  • Tech Mahindra Q3 profit up 4.5% YoY to ₹1,369 crore, revenue up 18.7% to ₹11,451 crore.
  • M&M reports 57% jump in Q3 net profit at ₹1,987 crore, revenue increased 9% to ₹23,594 crore.
  • Ashok Leyland reports Q3 net profit at ₹5.7 crore, revenue rose 15% YoY to ₹5,535.2 crore.
  • ONGC Q3 Profit jumps 220% YoY to ₹11,637 crore, revenue gains 45% to ₹1.46 lakh crore.
  • Bharti Airtel profit drops 2.8% to ₹830 crore in Q3; revenue up 12.6% to ₹29,867 crore, ARPU falls to ₹163.
  • Nykaa Q3 Profit plunges 58% to ₹29 crore; revenue up 36% ₹1,098.36 crore.
  • Zomato’s Q3 loss narrows to ₹63.2 crore; revenue jumps 82% YoY to hit ₹1,112 crore.
  • Nestle India Q4 profit dips 20% YoY to ₹386.66 crore, net sales up 8.9% to ₹3,739.32 crore.

WORLD INDICES
Indices 28-Feb 31-Jan %1M 04-Jan % since Jan
BSE 56247 58014 -3.05% 59856 -6.03%
NSE 16794 17340 -3.15% 17805 -5.68%
DOW 33893 35132 -3.53% 36800 -7.90%
NASDAQ 13751 14240 -3.43% 15623 -11.98%
FTSE 7458 7464 -0.08% 7505 -0.62%
Nikkei 26527 27002 -1.76% 29302 -9.47%
Hang Seng 22713 23802 -4.58% 23290 -2.48%
Straits Times 3242 3250 -0.23% 3181 1.92%
Shanghai 3462 3361 3.00% 3632 -4.68%
USD 75.34 74.61 0.98% 74.55 1.06%
Euro 84.35 83.81 0.64% 84.15 0.23%
GBP 101.03 100.32 0.71% 100.91 0.12%
Yen/100INR 0.65 0.65 0.88% 0.64 1.84%
Gold 50815 47670 6.60% 47950 5.97%
Silver 64896 60950 6.47% 62247 4.26%
Crude Brent $ 98.94 89.48 10.57% 79.77 24.03%
Crude Nymex $ 96.72 88.36 9.46% 76.80 25.94%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
28-Feb 36205 33848 10821 35515 12928
31-Jan 37975 34825 11704 36467 13180
% 1M -4.66% -2.80% -7.54% -2.61% -1.91%
04-Jan 36840 39371 11139 37800 14041
% since Jan -1.72% -14.03% -2.86% -6.04% -7.93%


INDIAN TRADE(USD MILLION)
Exports in ($ Bn) 34.5
Imports ($ Bn) 51.93
FDI 625
Government Bond 10Y 6.77%
GDP YoY 5.40%
Inflation Rate 6.01%
Forex Reserves ($ Bn) 632.95
IIP % 0.40%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII(Rs. crore) MF(Rs. crore)
Equity (29,704) 8,418
Debt (1,517) 2,284
Total 1 M (31,221) 10,702
Total Since Jan (61,851) 28,512
Equity (63,801) 24,921
Debt 1,951 3,591

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