March 3, 2023 by BizWhiz Admin in Economy Snapshot 0 comments 246

General News

  • Part 1 of Budget session concludes, Parliament to meet again on 13th March.
  • Assembly elections 2023: Tripura records 87.63% voter turnout; Megahalaya 76.27%, Nagaland 84.08%.
  • NSA Ajit Doval meets US Secretary of State Antony Blinken, discusses India-US strategic ties.
  • US, India elevate strategic partnership under iCET, launch initiatives to expand technology partnership.
  • Ajit Doval holds wide-ranging discussions with Russian President Putin in Moscow.
  • India and Spain agree to collaborate on digital infrastructure, climate action and sustainable development.
  • India, France, UAE agree for trilateral cooperation initiative, in fields including energy, defence, economy.
  • India’s National Security Advisor Ajit Doval meets his UK counterpart Tim Barrow in London.
  • German Chancellor Olaf Scholz arrives in India for 2-day visit; hold wide-ranging talks with PM Modi.
  • Cabinet approves projects worth ₹6,600 crore to strengthen India’s borders.
  • Centre drops mandate to upload Air Suvidha form for travellers from China, Japan, other 4 countries.
  • 14th edition of Asia’s largest aero show, Aero India 2023 kicks off in Bengaluru.
  • Rajnath Singh holds bilateral meeting with defence heads of 7 nations on the sidelines of the show.
  • EAM Jaishankar, Fiji President Wiliame Katonivere inaugurate 12th World Hindi Conference in Nadi.
  • Indian Army changes Agniveer induction process, entrance test for candidates introduced.
  • President appoints new governors for Andhra, Maharashtra, Sikkim, Jharkhand, Himachal and Assam.
  • President Murmu confers Sangeet Natak Akademi Fellowships and Awards for 2019, 2020 and 2021.
  • ISRO joins hands with Indian Navy to conduct recovery trials for Gaganyaan Mission.
  • ISRO successfully launches SSLV’s 2nd developmental flight with three satellites from Sriharikota.
  • Dr APJ Abdul Kalam Mission 2023: Rocket carrying student-built satellites launched from Tamil Nadu.
  • Telangana state budget pegs ₹2.90 lakh crore expenditure in FY24, allocates ₹26,831 crore for agriculture.
  • Karnataka CM Bommai present revenue surplus budget; raises loan term limits, agricultural subsidies.
  • Uttarakhand Cabinet approves compensation, rehabilitation policy for affected people in Joshimath.
  • Brigadier (Retd) BD Mishra takes oath as second Lt Governor of Ladakh.
  • AAP councillor Shelly Oberoi elected as Delhi’s new mayor.
  • EC recognises Eknath Shinde faction as real Shiv Sena, allots it ‘bow and arrow’ symbol.
  • Congress’ 85th plenary session: Party outlines seat-sharing strategy, organizational changes for 2024 polls.
  • Delhi liquor scam: Manish Sisodia arrested by CBI after 8-hour questioning.
  • Morbi bridge tragedy: SIT report shows 22 corroded wires, welded suspenders reasons behind collapse.
  • Yuva Sangam portal launched to connect youth from Northeast to other states.
  • Powerful 7.8 earthquake in Turkey and Syria kills at least 50,000 people.
  • U.N. General Assembly votes to demand Russia withdraw from Ukraine; India, China abstain.
  • EU, Ukraine hold first summit in Kyiv since Russian invasion.
  • US President Biden makes surprise visit to Ukraine for first time since full-scale war began.
  • EU hits Russia with 10th package of sanctions one year after Ukraine invasion.
  • Financial Action Task Force (FATF) suspends Russia’s membership over Ukraine war.
  • U.S. fighter jet shoots down suspected Chinese spy balloon with missile.
  • US’s Blinken meets China’s Wang Yi; warns Beijing against helping Russia, condemns its spy balloon.
  • UK, EU conclude new post-Brexit trade arrangement for Northern Ireland.
  • Russia, China and S Africa hold naval drills off Indian Ocean coast.
  • North Korea showcases nuclear attack capability in largest ever ICBM parade.
  • China imposes mandatory Covid-19 tests for arrivals from South Korea.
  • Former Pakistan President Pervez Musharraf passes away after prolonged illness in Dubai.
  • China plans to triple nuclear warheads to 900 by 2035 amid tensions with US.
  • North Korea fires more ballistic missiles, warns action over US-South Korea drills.
  • South Korea to offer $130 million in additional humanitarian aid to Ukraine.
  • Indian-Americans Nikki Haley, Vivek Ramaswamy announce 2024 presidential bid.
  • Chinese President Xi holds talks with Iranian president Raisi, eyeing new progress in ties.
  • New Zealand declares national emergency as Cyclone Gabrielle wreaks havoc.
  • Sri Lanka’s ex-President Sirisena apologises for 2019 Easter Sunday bombings.
  • Shahabuddin Chuppu elected unopposed as Bangladesh’s 22nd President.
  • Scottish leader Nicola Sturgeon leaves post after 8 years.
  • Johar Khiladi: Country’s first digital portal for sports, sportspersons launched in Jharkhand.
  • IND vs AUS, 2nd Test: India beat Australia in second Test to take 2-0 lead in 4-match series.
  • BCCI sacks KL Rahul, no vice-captain named for last two Test matches against Australia.
  • Virat Kohli edges Tendulkar, Ponting to become fastest to complete 25,000 International runs.
  • Women’s T20I Tri-series: South Africa beats India by 5 wickets to clinch Women’s T20 Tri-series title
  • Women’s T20 WC: Australia win record-extending sixth Women’s T20 World Cup title.
  • Women’s T20 league: Smriti Mandhana tops auction with Rs 3.4 crore, named RCB captain.
  • IPL 2023 to begin on March 31; Gujarat Titans to face Chennai Super Kings in season opener.
  • Gymnast Dipa Karmakar handed 21-month ban after failing dope test.
  • Novak Djokovic sets all-time record with 378th week as world tennis no. 1, overtaking Steffi Graf.
  • FIFA Awards: Lionel Messi wins record 7th award; Alexia Putellas claims award for 2nd straight year.


Business News

  • RBI hikes repo rate by 25 bps to 6.5%, projects GDP growth at 6.4% for 2023-24.
  • RBI cuts inflation projection for FY23 to 6.5% from 6.7%, core inflation remains a concern.
  • RBI proposes to launch QR code based coin vending machine in 12 cities.
  • 49th GST Council meet: All GST compensation dues to be cleared since June 2022.
  • PM inaugurates India Energy Week 2023 in Bengaluru.
  • India, US agree to constitute task force to boost cooperation in semiconductor industry.
  • I2U2 business forum held in UAE to address energy crisis, food insecurity.
  • PM Modi inaugurates 14th edition of Aero India 2023 at Air Force Station, Yelahanka in Bengaluru.
  • HAL’s helicopter manufacturing factory inaugurated by PM Modi in Karnataka’s Tumakuru.
  • Govt approves scheme for revival 100 unserved Airports, Helipad and Water Aerodromes by 2024.
  • IAF releases 119 ‘conditional’ air routes for commercial flight operations.
  • Government cuts windfall tax on crude petroleum, diesel and ATF.
  • Govt approves ₹30.40 crore ‘Sensor-based Smart Agriculture’ project for J-K farmers.
  • Andhra Pradesh hosts investment drive in Mumbai to attract businesses and Investors to GIS 2023.
  • Rajasthan amends combined excise policy, hiked prices for Indian made liquor and Rajasthan made liquor.
  • RBI grants approval to 32 firms to act as online payment aggregators.
  • India, Singapore launch real-time payment systems linkage between UPI and PayNow.
  • SEBI directs AMCs to include GST & transaction cost in total expense ratio.
  • Hindenburg Research firm alleges Adani group had engaged in stock manipulation and accounting fraud.
  • Adani Group calls off ₹20,000 crore FPO due to market volatility; loses over 12 lakh crore in market cap.
  • Adani group prepays loans worth $1.11 billion, releases pledged shares in 3 firms.
  • Reliance Retail becomes first retailer to begin accepting Central Bank Digital Currency (CBDC) for sales.
  • PSBs profit jumps 65% to ₹29,175 crore in Q3; Bank of Maharashtra tops chart.
  • Edelweiss General Insurance rebranded as Zuno General Insurance.
  • TCS signs expansion deal with American tech company Keysight Technologies.
  • Income Tax Department conducts survey at BBC offices in Delhi, Mumbai.
  • Sri Lanka gives nod to $442-million wind project of Adani Group.
  • Bank of England raises interest rates by 0.5 bps to 4%, 10th straight increase.
  • Pakistan’s inflation soars to 27.55%, highest in 48 years; approves new tax on power.
  • Sri Lanka’s power regulator approves hike in power tariff to the tune of 66%.
  • France’s TotalEnergies pauses green hydrogen project with Adani.
  • Govt agrees to convert ₹16,133 crore interest dues of Vodafone Idea into equity.
  • Centre gets 33.44% stake in Vodafone Idea post equity allocation.
  • Honda to start producing new hydrogen fuel cell system co-developed with General Motors.
  • Renault, Nissan agree on landmark deal to reshape alliance.
  • EU formally bans gas, diesel car sales from 2035 to boost EV transition.
  • Tata Motors signs an MoU with Uber India for 25,000 XPRES-T EVs for its premium category.
  • Air India orders 250 Airbus, 220 Boeing planes in world’s biggest ever aviation deal.
  • Boeing bids farewell to an icon, delivers last 747 jumbo jet.
  • BEL, GSL ink pact to address global market opportunities in Naval platforms.
  • Qualcomm announces world’s first satellite-based two-way messaging solution.
  • TCS bags deal to digitally transform Telefónica Germany, largest UK deal to digitize insurer’s products.
  • G-7, Europe reach deal for price cap on Russian diesel.
  • Vedanta shelves plan to sell its copper smelter in Tamil Nadu.
  • Over 17,400 tech employees got fired in February globally to date.
  • Spotify world’s 1st music streaming platform to surpass 200 million paid users.
  • Ola, Rapido, Uber bike taxi services are banned in Delhi by government.
  • FDA restrict imports of India-made pharma company linked to vision loss in US.
  • Twitter Blue subscription launches in India at ₹650 for web, ₹900 for mobile.
  • Meta launches paid Blue Badge for Facebook, Instagram at $11.99 a month.
  • Alibaba exits India – sells its entire stake holding in Paytm.
  • PhonePe becomes India’s first fintech platform to enable cross-border UPI payments.
  • Samsung to manufacture premium Galaxy S23 smartphones at Noida facility in India.
  • Nokia to expand production of optical line terminals (OLTs) at Chennai factory to growing demand.
  • Surf Excel becomes first Indian home care brand to top $1 billion annual sales.
  • RBI okays appointment of sitting YES Bank exec Rajan Pental as ED.
  • Tata Motors VP Rajan Amba appointed as MD of Jaguar Land Rover India.
  • YouTube CEO Susan Wojcicki quits after 25 years; Indian-American Neal Mohan to be new CEO.
  • NITI Aayog’s CEO Parameswaran lyer appointed as Executive Director of World Bank.
  • Ex-Mastercard CEO Ajay Banga nominated by US President to lead World Bank.


Q3 Results

  • IRCTC Q3 Net profit rises 22% to ₹255 crore, revenue up 70% YoY to ₹918.1 crore; ₹3.5 dividend declared.
  • LIC Q3 Net profit surges multi-fold to ₹6,334.19 crore, Net premium income rises 15% to ₹1.12 lakh crore.
  • Ashok Leyland posts multi-fold jump in PAT to ₹361 crore on robust sales, revenue stood at ₹9,030 crore.
  • M&M Q3 net profit rises 14% YoY to ₹1,528 crore, revenue rose 41% to ₹21,654 crore.
  • Bharti Airtel Q3 net profit rises 91.5% to ₹1,588 crore; ARPU up at ₹193.
  • Bank of Baroda reports highest-ever quarterly profit of ₹3,853 crore, NII surges 27% YoY to ₹10,818 crore.
  • Cognizant Q4 net profit down 9.6% YoY to $521 million, revenue stood at $19.4 billion.
  • ITC Q3 net profit rises 23% to ₹5,070 crore; revenue up 3.5% to ₹19,020.65 crore.
  • IndiGo net profit soars to ₹1,422.6 crore on travel demand, total income jumped to ₹15,410.2 crore.
  • Adani Enterprises reports Q3 consolidated net profit at ₹820 crore, revenue rises 42% to ₹26,612.23 crore.
  • Britannia Q3 Net profit soars 151% YoY to ₹932 crore, revenue increased 16.17% to ₹4,101.49 crore.
  • Nestle India Q4 PAT rises 66% YoY to ₹628 crore; announces dividend of ₹75 per share.
  • Nykaa net profit falls 71% to ₹8.5 crore in Q3, revenue up 33% to ₹1,463 crore.

Indices 28 -Feb 31 -Jan % 1M 02 -Jan % since Jan
BSE 58,962 59,550 -0.99% 61,168 -3.61%
NSE 17,304 17,662 -2.03% 18,197 -4.91%
DOW 32,657 34,086 -4.19% 33,147 -1.48%
NASDAQ 11,456 11,585 -1.11% 10,466 9.45%
FTSE 7,876 7,772 1.35% 7,452 5.70%
Nikkei 27,446 27,327 0.43% 26,095 5.18%
Hang Seng 19,786 21,842 -9.41% 19,781 0.02%
Straits Times 3,263 3,366 -3.06% 3,251 0.35%
Shanghai 3,280 3,256 0.74% 3,089 6.16%
USD 82.67 81.83 1.02% 82.72 -0.06%
Euro 87.51 88.88 -1.53% 88.30 -0.89%
GBP 99.39 100.77 -1.37% 99.91 -0.52%
Yen/100INR 0.61 0.63 -3.66% 0.64 -4.94%
Gold 55,798 57,270 -2.57% 55,586 0.38%
Silver 63,803 68,702 -7.13% 70,579 -9.60%
$Crude 83.89 85.74 -2.16% 85.50 -1.88%
Crude Nymex $ 77.38 79.24 -2.35% 79.92 -3.18%
28 -Feb 40,269 29,664 12,732 44,940 11,747
31 -Jan 40,655 29,740 13,324 44,457 12,360
% 1M -0.95% -0.26% -4.44% 1.09% -4.96%
02 -Jan 43,203 28,737 12,668 44,193 12,551
% since Jan -6.79% 3.22% 0.51% 1.69% -6.41%

Exports in ($ Bn) 32.91
Imports ($ Bn) 50.66
FDI 1954
Government Bond 10Y 7.46%
GDP YoY 4.40%
Inflation Rate 6.52%
Forex Reserves ($ Mn ) 5,61,270
IIP % 5.30%

Particulars FII(Rs. crore) MF(Rs. crore)
Equity 992 4,6764
Debt 828 (8,043)
Total 1 M 1,820 (3,367)
Total Since Jan (23,348) 8,583
Equity (29,175) 22,634
Debt 5,827 (14,051)

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