I am pleased to attach the Economy / Market Snapshot covering all the major events in July, 2017.
Nifty Crossed 10,000 mark in July 2017 and the Indian Stock Market is at all-time high. Market went up by 5% in July and 22% in this calendar year so far. Bank IT Index went up by 8% and sectors like IT, Auto went up. FMCG and Health Care came down. Bank IT Index has touched the 25,000 mark registering 40% growth in this calendar year. FII’s had pumped in 3,100 crores and Domestic Institutions pumped in Rs.8,100 crores in the Equity market. Indian Rupee is currently at Rs.64.18 against the US Dollar. Global markets went up with the US stocks going up by 3% and Hang Seng by 6%. Gold and Silver were marginally up and Crude went up by 8%.
With the election of Mr Kovind as the next President of India, BJP is consolidating its strength. With the new alliance with Nitish Kumar and the talks of AIADMK joining the Union Cabinet, BJP is moving towards getting a majority in Rajya Sabha.
Indian team lost to England in the Women’s World Cup held in London. It was wonderful watching Roger Federer winning yet another Wimbledon title last month.
Will the 10,000 mark be retained and sustained in August ? That’s the big question ???
- Ram Nath Kovind elected as the 14th President of India; envisions India as an economic and moral
- NDA’s Vice-Presidential nominee Venkaiah Naidu and opposition’s pick Gopalkrishna Gandhi file their
- BSP Chief Mayawati resigns from Rajya Sabha.
- India and China involve in a stand-off along part of their 3,500kms shared border.
- PM Modi visits Israel; India, Israel sign agreements on science, agriculture and technology.
- 2 countries agree to create a bilateral technology innovation fund worth $40 million.
- Army gets special powers to buy ammunitions, spares in emergency situations.
- India successfully test-fires short range missile along Odisha coast.
- Bihar political crisis escalated as ED, CBI register cases against Lalu Prasad’s family.
- Nitish Kumar resigns as CM and reassumes power with the support of BJP.
- Nagaland Governor appoints TR Zeliang as new Chief Minister.
- G20 summit: US isolated as India, other G20 nations back irreversible Paris climate pact.
- UP: Yogi govt presents its first budget, provides Rs 36,000 crore for farm loan waiver.
- Terrorists kill 7 Amarnath pilgrims, injure 19 as they struck at a bus in Kashmir’s Anantnag district.
- TN farmers resume their agitation for loan waiver and drought-relief package.
- Tamil Nadu doubles MLAs’ monthly salary to more than Rs 1 lakh amid farmer protest.
- Gorkhaland agitation escalates as GJM, other parties take out rallies, criticise Centre.
- PM Modi inaugurates former President A.P.J. Abdul Kalam’s memorial in Rameswaram.
- UNESCO declares Ahmedabad a World Heritage City, 1st of its kind in India.
- Mother Teresa’s iconic white and blue sari now an Intellectual Property of Missionaries of Charity.
- NGT declares 100 metre from edge of Ganga river as no-development zone.
- SC stays Uttarakhand HC’s order declaring river Ganga, Yamuna as living entity.
- SC stays Madras HC order directing Tamil Nadu Government to waive all crop loans.
- Nine-judge Supreme Court bench begins hearing Aadhar case on right to privacy.
- Ram Jethmalani sends Rs 2 crore bill to Arvind Kejriwal, quits as Delhi CM’s counsel.
- DG Prisons denies reports by DIG Roopa over special treatment to VK Sasikala in Bengaluru jail.
- Karnataka transfers the 2 jail officials for involving in public spat over allegations.
- Monsoon 2017: Heavy rains continue to lash several parts of India; Assam, Odisha, Gujarat flooded.
- Gujarat leader Shankersinh Vaghela quits Congress, not to join BJP or any other political party.
- Achal Kumar Joti takes over as new Chief Election Commissioner.
- US Senate blocks proposal to repeal and replace ObamaCare.
- Pakistan SC concludes Panama case hearing; Nawaz Sharif disqualified from office.
- Shahbaz Sharif tapped as successor to Nawaz Sharif, Shahid Khaqan Abbasi as interim PM.
- North Korea says successfully tests 2 Inter-Continental ballistic missile.
- Qatar changes anti-terror legislation amid Gulf row.
- BCCI names Ravi Shastri as Team India Coach till 2019 World Cup, Bharat Arun as bowling coach,
Sanjay Bangar as assistant coach and R Sridhar as fielding coach.
- Windies vs India series: India clinch the series by 3-2.
- Women’s World Cup 2017 Final: England beat India by nine runs to clinch title.
- Sri Lanka vs India 1st Test: India wins 1st test by 304 runs.
- Chennai Super Kings announces return to IPL after a gap of two years.
- Wimbledon 2017: Roger Federer claims historic 8th Wimbledon title and Garbine Muguruza wins her
first Women’s singles title.
- US Open Grand Prix Gold: HS Prannoy beats P Kashyap to claim maiden title.
- GST launched on July 1 at a special ceremony at Parliament’s historic Central Hall, by President Pranab
Mukherjee and PM Modi.
- 12% and 18% GST rates can converge in future: Arun Jaitley.
- Tax dept gives 6-month breather to industry on GST compliance.
- Over 12 lakh businesses applied for new GST registration.
- States set up mobile squads for monitoring inter-state movement of goods till e-way bills are rolled out.
- Govt to impose penalty on manufacturers if revised MRP rates not printed on unsold goods.
- Cabinet gives in-principle nod to the merger of ONGC and HPCL.
- Indian Oil Corporation to receive first ever US crude import in October.
- BPCL also plans to buy its first ever U.S. crude oil cargo via tender.
- Saudis to cut August oil exports to lowest level this year, to stay within its OPEC production
- NSE technical glitch: Cash and F&O segments were closed at 9:55 am and reopened at 12:30 pm.
- National Multi Commodity Exchange to merge with Indian Commodity Exchange, creating 3rd biggest
- Vikram Limaye takes charge at NSE, wants to fix regulatory mess first, IPO has to wait.
- Gujarat HC turns down Essar Steel plea against RBI’s insolvency proceedings; raps RBI for giving
directions to NCLT.
- Centre to link MNREGA wages to CPI-Rural for better hike.
- Centre hikes sugar import duty to 50% to support domestic prices.
- Govt orders LPG prices to be hiked by Rs 4 per month.
- WPI-based inflation eases to its lowest level this year to 0.9% in June from 2.17% in May.
- Railways launches India’s first solar-powered train, will start operations from Saturday.
- RBI nominates Economic Affairs Secretary Subhash Chandra Garg to board of directors.
- Axis Bank reappoints Shikha Sharma as CEO & MD for another 3 years.
- Infosys’ Executive Vice President Ritika Suri and Innovation Fund MD Yusuf Bashir resign from Infosys.
- Alphabet appoints Sundar Pichai to its board of directors.
- SBI cuts savings bank rate to 3.5% from 4% on deposits up to Rs 1 crore.
- Indian Bank files insolvency cases against 7 accounts worth Rs 1,200 crore at NCLT.
- Number of PSBs may go down to 12 as govt mulls consolidation.
- LIC picks over 3% additional stake in Bank of India for Rs 451 crores.
- Max India pulls out Max Life-HDFC Life merger deal.
- IDFC, Shriram Group set to unveil $10 billion merger; get RBI’s verbal nod.
- FIIs buy shares worth Rs 450 crores in Reliance Capital.
- Pakistan rupee drops 3.1%, most in 9 years in apparent devaluation.
- Fundraising via IPOs zooms 73% to Rs 12,000 crore in H1 2017.
- India M&A deal value touch record high of $29.2 billion in January-June.
- Banks need $2.8 billion extra provisioning for bankruptcy cases: India Ratings.
- TCS to wind up operations in Lucknow, to shift most of its projects to Noida.
- Siemens opens its first digital factory in India.
- Microsoft officially ends all support for Windows Phone.
- Lupin enters into agreement with American Academy of Ophthalmology.
- Mukesh Ambani launches Jio Phone, free with Rs 1,500 deposit, unlimited 4G data.
- RIL announces bonus issue of 1:1 at its 40th AGM.
- Six telecom companies underreported revenue by Rs 61,064.5 crores: CAG.
- Vodafone India-Idea Cellular merger deal gets CCI nod.
- Ashok Leyland to electrify trucks and buses.
- India emerge as the world’s fourth largest vehicle market, beats Germany and the UK.
- Govt mulls UDAN for less than 9-seater planes, more incentives for North-East.
- Snapdeal terminates merger talks with Flipkart.
- Future Enterprise exits from FMCG arm, sells nearly 15 crore shares in Future Consumer.
- WhatsApp gets NPCI nod for UPI payment tie-ups with banks.
- Axis Bank buys FreeCharge from Snapdeal for $60 million.
- Walmart to invest Rs 900 crores to open 15 outlets in Maharashtra.
- Amazon India’s $500 million food retail investment gets govt nod.
- Infosys’s Q1 net profit comes at Rs 3,483 crores, revenue at Rs 17,078 crore; retains FY18 constant
currency revenue growth guidance at 6.5-8.5%.
- TCS Q1 profit sinks 10.1% QoQ to Rs 5,945 crores, while revenue declined 0.2% to Rs 29,584 crores.
- Wipro’s Q1 net profit comes at Rs 2,077 crores, announces Rs 11,000 crore buyback plan.
- HCL’ Q1 profit fell 6.6% QoQ to Rs 2,171 crores, revenue up by 0.8% to Rs 12,149 crores and dollar
revenue by 3.7% to $1,884.2 million.
- Tech Mahindra’s profit grew 36% QoQ to Rs 799 crores, revenue down 2.12% to Rs 7,336.1 crores,
dollar revenue grew by 0.6% to $1,138.1 million.
- Mindtree Q1 net profit jumps 25% QoQ at Rs 121.7 crores; revenue at Rs 1,289.5 crores.
- ICICI Bank reports Q1 profit at Rs 2,049 crores, NII at Rs 5,589.84 crores; GNPA increased to 7.99% but
NNPA declined to 4.86%.
- Axis Bank’s Q1 profit fell 16% YoY to Rs 1,306 crores, GNPA declined to 5.03% though net NPA up at
- Kotak Mahindra Bank’s Q1 net profit comes at Rs 913 crores, NII at Rs 2,246 crores.
- HDFC Bank’s profit grew by 20.2% YoY to Rs 3,893.84 crores, NII increased 20.4% to Rs 9,370.40
- Canara Bank Q1 net profit rises 9.89% YoY to Rs 251.6 crores, NII comes at Rs 2714 crores.
- Indian Bank’s Q1 profit up 21.2% YoY to Rs 372.4 crores, net NPA declines to 4.05% from 7.39%.
- IDFC Bank’s Q1 profit grew sharply by 65.3% YoY to Rs 437.6 crores, NII fell 22.2% to Rs 388 crores.
- HDFC Q1 net profit comes at Rs 1,556 crores, gross NPA rises to 1.12%.
- Ashok Leyland’s Q1 profit drops by 61.7% YoY to Rs 111.2 crores, revenue falls 0.4% to Rs 4,514.4
- Bajaj Auto’s Q1 profit falls 5.6% to Rs 924 crores, incurs one-time charge of Rs 32 crores on GST
- Hero MotoCorp Q1 net profit up 3.5% YoY at Rs 914 crores, revenues grew 7.5% at Rs 8,744.6 crores.
- Maruti Suzuki’s Q1 profit came at Rs 1,556.4 crores and revenue at Rs 19,777.4 crores.
- Bharti Airtel’s Q1 profit came at Rs 617.7 crores, revenue reported at Rs 21,958.1 crores.
- RIL’s consolidated net profit comes at Rs 9,079 crores.
- Dr Reddy’s Labs Q1 net profit drops 57% to Rs 66.6 crores, revenues rise 3% to Rs 3333 crores.
- HUL Q1 profit jumps 8.5% to Rs 1,283 crores; reports 4.77% increase in revenue at Rs 9,222 crores.
- ACC’s consolidated revenue for the quarter comes at Rs. 3453 crores, registering 19.9% yoy increase.
- UltraTech Cement Q1 profit rises 14.9% to Rs 890.6 crores, revenue up 6% to Rs 7,520.3 crores.
- Air India’s net loss narrowed to Rs 3,643 crores and operating profit rose to Rs 300 crores in FY17.
|Indices||31-Jul||30-Jun||% 1M||02- Jan||% since Jan|
|Crude Brent $||52.77||48.99||7.71%||57.16||-7.68%|
|Crude Nymex $||50.25||46.34||8.45%||54.05||-7.03%|
|NIFTY SECTORAL INDICES|
|Sectors||BANK NIFTY||CNX IT||CNX AUTO||CNX FMCG||CNX PHARMA|
|% since Jan||39.70%||3.75%||17.97%||24.31%||-8.09%|
|INDIAN TRADE( USD MILLION)|
|Government Bond 10Y||6.45%|
|Forex Reserves $ M||391330|
|INSTITUTIONAL TRADING ACTIVITY|
|Particulars||FII (Rs.crore)||MF (Rs.crore)|
|Total 1 M||19676||46961|
|Total Since Jan||167422||277918|