February 2, 2022 by BizWhiz Admin in Economy Snapshot 0 comments 545

General News

  • Assembly elections 2022: EC announces 7-phase election in 5 states from Feb 10, counting on March 10.
  • UP to vote in 7 phases; Manipur in 2 phases; Punjab, Uttarakhand, Goa in single phase.
  • CM Adityanath to contest from Gorakhpur, Akhilesh Yadav to contest from home turf Karhal.
  • AAP names Bhagwant Mann as Punjab’s CM candidate, Amit Palekar as Goa CM candidate.
  • India displays its military might, cultural diversity, socio economic progress at 73rd Republic Day parade.
  • President approves 384 Gallantry Awards, other decorations to Armed Forces; Padma awards announced.
  • Vaccination for 15-18 age group, booster dose to senior citizens, healthcare and frontline workers begins.
  • India’s total COVID caseload touches 4.14 crore; cumulative vaccination crosses 166.7 crore.
  • Focus on localised curbs to contain COVID, minimise damage to livelihood: PM Modi to Chief Ministers.
  • No one can be forced to get vaccinated against their wishes: Centre tells SC.
  • PM Modi launches India-assisted projects with Mauritius counterpart Pravin Kumar Jugnauth.
  • PM Modi reviews strategic partnership with new German Chancellor Olaf Scholz .
  • India, 5 Central Asian countries decide to establish joint working group on Afghanistan.
  • PM lays foundation stone of 22 developmental projects worth over ₹4,800 crore in Imphal.
  • PM Modi virtually inaugurates 11 medical colleges in Tamil Nadu.
  • Assam, Nagaland CMs discuss on issues of ‘mutual interest, status quo along interstate border for now.
  • Centre withdraws SSG security cover to 4 ex-J&K CMs – Abdullahs, Mehbooba Mufti & Ghulam Nabi Azad.
  • SC appoints panel headed by ex-judge Indu Malhotra to probe breach in PM’s security in Ferozepur.
  • SIT files chargesheet in Lakhimpur Kheri violence case, names MoS Ajay Misra`s son as prime accused.
  • Amar Jawan Jyoti at India Gate merged with National War Memorial Flame.
  • Indian Army unveils new digital combat uniform at Army Day parade.
  • India, China hold 14th round of military talks to resolve eastern Ladakh standoff.
  • Lt Gen Manoj Pande appointed as next Army Vice Chief.
  • India bags contract from Philippines for BrahMos missiles worth $374 million.
  • India successfully test-fires new version of BrahMos supersonic cruise missile off Odisha coast.
  • CDS General Bipin Rawat’s chopper crashed due to inclement weather, ‘entry into clouds’: IAF.
  • Rocket scientist S Somnath to be new ISRO chief for three years, replaces K Sivan.
  • Global COVID caseload tops 375 million, deaths surge to more than 5.68 million.
  • COVAX program delivers 1 billion doses to 144 poor countries: WHO.
  • EU ends omicron travel ban on flights from southern Africa.
  • UN launches nearly $5 billion aid appeal for Afghanistan; US announces $308 million in aid.
  • US suspends all commercial flights to China ahead of Beijing Winter Olympics.
  • Leaders of US, Russia, Britain, France, and China adopt joint statement on preventing nuclear war.
  • Ukraine’s President Zelenskyy urges calm as world leaders work to avert Russian invasion.
  • Australia, Japan sign ‘historic’ defence pact amid China concerns.
  • US and Japan strengthen defence ties by signing 2 new defence deals.
  • South Korea inks deal with UAE to sell mid-range surface-to-air missiles.
  • North Korea launches 7th missile test in 1 month.
  • Iran blacklists 51 Americans over assassination of former military commander Qasem Soleimani.
  • Myanmar’s ousted leader Aung San Suu Kyi jailed for 4 more years for possessing walkie-talkies.
  • Indonesia passes Law to move capital from Jakarta to remote Borneo.
  • Justice Ayesha Malik takes oath as first woman judge of Pakistan’s Supreme Court.
  • Malta’s Roberta Metsola becomes youngest person elected European Parliament president.
  • Massive underwater volcanic eruption in Tonga triggers tsunami; Magnitude 6.2 earthquake hits again.
  • China successfully tests ‘Artificial Sun’ to harness clean energy by 2040, 5 times powerful than real Sun.
  • Virat Kohli steps down as India’s Test captain after 7 years in role.
  • South Africa beat India by 4 runs in a thriller to complete 3-0 series sweep.
  • South Africa secure 2-1 Test series victory over India.
  • ICC Awards 2021: Babar Azam, Lizelle Lee named ODI Cricketers of the year; Mohammad Rizwan and Tammy Beaumont named ICC T20 Cricketers of the Year.
  • Smriti Mandhana, Shaheen Afridi named ICC Cricketers of the Year.
  • Babar Azam named Captain of the ODI and ICC T20I Team of the year.
  • T20 World Cup 2022 to start from Oct 16; India to begin campaign against Pakistan on October 23.
  • FIFA Awards: Robert Lewandowski, Alexia Putellas named Best Players; Cristiano Ronaldo honoured.
  • Shuttler Tasnim Mir becomes first Indian to claim World No. 1 status in U-19 girls singles.
  • India Open 2022: Lakshya Sen wins men’s singles crown; Satwik-Chirag pair claims maiden title.
  • Australia bars Novak Djokovic, cancels entry visa over vaccination status.
  • Australian Open: Rafael Nadal secures 21st Grand Slam; World No.1 Ash Barty claims her maiden title.
  • France’s Kristina Mladenovic, Croatian Ivan Dodig win Australian Open mixed doubles title.

 

Business News

  • Nirmala Sitharaman presents Union Budget 2022-23; expects economic growth at 9.2% in the current fiscal.
  • RBI to issue India’s first digital currency in FY22-23 using Blockchain.
  • Cryptocurrency income to be taxed at 30%, no change in income tax slabs.
  • 400 new Vande Bharat trains to be introduced, National Highway network will be expanded by 25,000 kms.
  • Economic Survey forecasts FY23 real GDP growth at 8-8.5%.
  • Govt approves ₹12,000 crore green energy corridor phase-II to modernise transmission.
  • Centre approves ₹1,500 crore infusion in IREDA to boost renewable energy financing.
  • Govt clears 20 strategic projects worth ₹30 crores under National Technical Textiles Mission.
  • Finance ministry relaxes expenditure cap for Jan-March quarter within revised estimates.
  • J&K inks 6 deals with global investors at Dubai Expo 2020.
  • Assam govt partners with NDDB to set up ₹2,000 crore dairy joint venture.
  • Govt completes formal handover of Air India to Tata Group.
  • Tatas gets loan commitment from SBI-led consortium for Air India.
  • DGCA extends suspension of commercial passenger flights to and from India till Feb 28.
  • Number of handbags per passenger reduced to 1 to reduce congestion and security threat.
  • PM Modi propagates “Pro-Planet People” approach at WEF Davos Agenda 2022.
  • India, South Korea agree to fast-track trade talks, set $50 billion bilateral trade target before 2030.
  • India allows imports of US pork, pork products for the first time.
  • World Bank projects India’s growth at 8.3% for FY 2021-22; 8.7% in FY 2022-23.
  • India grants $900 million loan to Sri Lanka to build forex reserve; extends $500 million LoC for fuel import.
  • Sri Lanka inflation hits record 14%; govt announces $1.2 billion economic relief package.
  • China cuts interest on 1-year medium-term loans for first time since April 2020.
  • Bank of Japan revises inflation projection for first time since 2014, no policy change.
  • UK-EU resume talks on Brexit trade spat.
  • Supreme Court upholds winding up of Devas Multimedia.
  • Cairn withdraws all lawsuits against India, to get ₹7,900 crore tax refund.
  • UK court orders eviction of Vijay Mallya from his London home over UBS’ unpaid loan.
  • Covishield, Covaxin get conditional market nod.
  • Aurobindo Pharma launches Molnaflu, its brand of Molnupiravir, an Oral COVID pill in India.
  • Lupin launches antiviral medication Molnulup for COVID-19 treatment in India.
  • Govt proposes mandatory 6 airbags in all new cars carrying up to 8 people from October 2022.
  • Delhi government directs cab aggregators and delivery service providers to add 50% EVs by 2023.
  • Toyota dethrones GM to become America’s top-selling automaker in 2021.
  • Renault, Geely to jointly design and produce electric hybrid and gasoline-fueled vehicles in South Korea.
  • Hero Future Energies ties up with Ohmium to set up 1GW green hydrogen facilities in India, UK, Europe.
  • M&M partners with Hero Electric, to manufacture electric bikes Optima & NYX.
  • TVS Motor acquires Switzerland’s e-bike firm SEMG for $100 million.
  • Verizon, AT&T delay 5G rollout around some airports after stark warnings from US airlines.
  • Voda Idea, Tata Teleservices opt for conversion of AGR dues into equity; Airtel opts for interest payment.
  • Reliance Jio pre-pays ₹30,791 crore clearing all spectrum liabilities.
  • Nokia, Tech Mahindra partner for 5G-based solutions for enterprises.
  • Bharti’s OneWeb, Hughes partner to provide satellite broadband services in India.
  • Google invests $1 billion in Airtel for shaping India’s digital ecosystem, takes 1.28% stake for $700 million.
  • Airtel Payments Bank gets permission to function as scheduled bank from RBI.
  • TCS wins second phase of Passport Seva Programme valued at about ₹6,000 crore.
  • Tech Mahindra partners with US’ Pyze; acquires European firm Com Tec Co IT for  ₹2,620  crore.
  • HCL Tech acquires Hungary’s Starschema for $42.5 million.
  • Dixon, boAt form 50:50 JV to manufacture Bluetooth enabled audio devices.
  • IMF urges El Salvador to dissolve the $150 million Bitcoin trust fund, scale back its Bitcoin push.
  • UAE-based LuLu Group’s ₹200 crore MoU for J&K food processing hub.
  • Google Cloud ties up with CryptoWire to develop blockchain, crypto ecosystem.
  • Future Enterprises sells 25% stake in general insurance JV to partner Generali for ₹1,253 Crore.
  • Reliance arm RIHL acquires 73.37% stake in New York’s Mandarin Oriental hotel for $98.15 million.
  • Timex Group gets manufacturing, distribution rights for Guess & Gc branded watches in India.
  • Facebook parent Meta builds powerful AI Supercomputer to support Metaverse.
  • Jubilant FoodWorks launches American restaurant chain Popeyes in India.
  • Swiggy turns decacorn; closes $700 million round led by Invesco at $10.7 billion valuation.
  • Apple becomes first company to reach $3 trillion market value.
  • Govt appoints V Anantha Nageswaran as Chief Economic Advisor.
  • Pierre-Olivier Gourinchas replaces Gita Gopinath as IMF chief economist.
  • Former RBI Governor Urjit Patel appointed Vice President of AIIB.
  • OPEC picks Kuwait’s Haitham Al Ghais as next Secretary-General.
  • Senior IAS officer Vikram Dev Dutt appointed new Chairman and MD of Air India.
  • Starlink India Head Sanjay Bhargava resigns as it offers refunds for pre-orders.

 

Q3 Results

  • HDFC Bank Q3 profit rises 18% to ₹10,342 crore, net interest income grows to ₹18,444 crore.
  • ICICI Bank Q3 net profit up 25% YoY to ₹6,194 crore; NII jumps 23% to ₹12,236 crore, NNPA ratio at 0.85%.
  • Kotak Mahindra Bank Q3 net profit up 15% YoY to ₹2,131 crore, NII increases by 12% to ₹4,334 crore.
  • RIL Q3 profit up 38% to ₹20,539 crore, revenue grew 54.25% to ₹1.9 lakh crore.
  • Reliance Jio Q3 net profit up 9% to ₹3,615 crore, revenue grew 6% YoY to ₹20,597 crore, ARPU up at ₹152.
  • TCS Q3 net profit up at ₹9,769 crore, revenue at ₹48,885 crore; announces buyback of ₹18,000 crore.
  • Infosys Q3 Net profit up 12% YoY at ₹5,809 crore, revenue up 23% at ₹31,867 crore.
  • Dr Reddy’s registers Q3 net profit at ₹707 crore, Consolidated revenues up by 8% YoY to ₹5,320 crore.
  • Wipro Q3 net profit at ₹2,970 crore, revenue up 30% YoY at ₹20,432 crore; declares ₹1 interim dividend.
  • HUL Q3 profit rises 17% YoY to ₹2,243 crore, sales rises 10% to ₹12,900 crore.
  • Maruti Suzuki Q3 net profit falls 48% YoY to ₹1,011 crore, revenue stood at ₹22,187 crore.
  • Bajaj Auto Q3 FY22 net profit down 17% QoQ to ₹1,430 crore, income rises marginally ₹9,369.31 crore.
  • Vodafone Idea Q3 loss widens to ₹7,231 crore, revenue down 11% YoY to ₹9,717 crore; ARPU up at ₹115.

WORLD INDICES
Indices 31-Jan 31-Dec %1M 01-Jan % since Jan
BSE 58014 58254 -0.41% 59856 -3.08%
NSE 17340 17354 -0.08% 17805 -2.61%
DOW 35132 36338 -3.32% 36800 -4.53%
NASDAQ 14240 15645 -8.98% 15623 -8.85%
FTSE 7464 7385 1.08% 7505 -0.54%
Nikkei 27002 28792 -6.22% 29302 -7.85%
Hang Seng 23802 23398 1.73% 23290 2.20%
Straits Times 3250 3124 4.03% 3181 2.15%
Shanghai 3361 3640 -7.65% 3632 -7.46%
USD 74.61 74.33 0.38% 74.55 0.08%
Euro 83.81 84.52 -0.84% 84.15 -0.40%
GBP 100.32 100.60 -0.27% 100.91 -0.58%
Yen/100INR 0.65 0.65 0.42% 0.64 0.95%
Gold 47670 48083 -0.86% 47950 -0.58%
Silver 60950 62681 -2.76% 62247 -2.08%
Crude Brent $ 89.48 77.78 15.04% 79.77 12.17%
Crude Nymex $ 88.36 75.21 17.48% 76.80 15.05%

NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
31-Jan 37975 34825 11704 36467 13180
31-Dec 35482 38701 10937 37580 14223
% 1M 7.03% -10.02% 7.01% -2.96% -7.33%
04-Jan 36840 39371 11139 37800 14041
% since Jan 3.08% -11.55% 5.06% -3.53% -6.13%

INDIAN TRADE(USD MILLION)
Exports in ($ Bn) 37.81
Imports ($ Bn) 59.48
FDI 1641
Government Bond 10Y 6.68%
GDP YoY 8.40%
Inflation Rate 5.59%
Forex Reserves ($ Bn) 634.29
IIP % 1.40%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII(Rs. crore) MF(Rs. crore)
Equity (10,582) 4,434
Debt 922 390
Total 1 M (9,659) 4,824
Total Since Jan (9,659) 4,824
Equity (10,582) 4,434
Debt 922 390

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