August 2, 2021 by BizWhiz Admin in Economy Snapshot 0 comments 343

General News

  • Monsoon session of Parliament: Both houses face repeated adjournments over Pegasus, farm laws.
  • All citizens aged 18 and above to be vaccinated by December 2021: Health Ministry tells Parliament
  • 36 new ministers take charge after Cabinet revamp; 7 promoted, 12 ministers dropped.
  • PM Modi offers India’s Co-WIN platform to the world for adaptation to local use.
  • India COVID tally touches 31.6 million, 470 million vaccine doses administered so far.
  • Active cases account for 1.28% of total infections; recovery rate improves to 97.34%.
  • Global Coronavirus caseload crosses 198.5 million; US cases surpass 35.7 million.
  • PM Modi inaugurates, lays foundation stones of projects worth over ₹1,500 crore in Varanasi.
  • Tirath Singh Rawat tenders resignation as CM of Uttarakhand; Pushkar Singh Dhami takes oath as CM.
  • Union Minister Thawarchand made Karnataka Governor; 7 other States get new Governors.
  • Basavaraj Bommai sworn in as the 30th Chief Minister of Karnataka.
  • S Jaishankar holds delegation level talks with Iranian, Russian and Georgian couterparts.
  • S Jaishankar discusses outstanding issues along the LAC in the Western Sector with China’s Wang Yi.
  • US Secretary of State Blinken meets PM Modi, discusses regional challenges, cooperation on COVID.
  • President Kovind visits J&K, Ladakh; pays tributes to Kargil martyrs at war memorial in Baramulla.
  • Navjot Singh Sidhu named Punjab Congress Chief with 4 working Presidents.
  • YS Sharmila launches her political party, named ‘YSR Telangana Party’.
  • Puri takes out Lord Jagannath’s Rath Yatra without devotees amid COVID-19.
  • Phones of 50,000 people targeted using Pegasus spyware; includes over 40 Indian journalists, politicians.
  • Timeline for Aadhar linking with ration card extended upto Sept 30.
  • Two explosive devices dropped from a suspected drone on the Indian Air Force Station in Jammu.
  • US Navy hands over first two MH-60R multi role helicopters to India.
  • Fresh batch of 3 Rafale fighter jets land in India after flying 7,000 km non-stop from France.
  • DRDO successfully test-fires new-generation Akash surface-to-air missile.
  • GAVI signs COVID-19 vaccine supply deals with Sinovac, Sinopharm for COVAX.
  • UNICEF inks deal to supply of 220 million COVID vaccine doses for African Union member states.
  • United Arab Emirates becomes the world’s most vaccinated nation, vaccinates 72.1% of its population.
  • Brazil suspends decision to import four million doses of India-made Covaxin..
  • UK achieves its July-end vaccination goal, govt says all adults offered one jab.
  • Over half of Europe’s adult population ‘fully vaccinated’ against COVID-19: EU.
  • 17 European countries approve Covishield for ‘Green Pass’.
  • Newly-elected Nepal PM Sher Bahadur Deuba wins vote of trust in Parliament.
  • President Joe Biden signs three bills to overturn Trump-era rules.
  • President Biden hosts Chancellor Merkel at White House in her final visit to US as head of the state
  • Joe Biden, Iraq’s PM Mustafa al-Kadhimi seal agreement to end U.S. combat mission in Iraq.
  • US troops leave Afghanistan’s Bagram airfield after nearly two decades.
  • Taliban delegation meets Chinese Foreign Minister, discusses current Afghan situation.
  • North, South Korea agree to restore severed communication links as leaders seek to rebuild ties.
  • Melbourne joins Sydney in lockdown as COVID-19 spreads in Australia.
  • Unprecedented heatwave claims as many as 500 people in Western Canada.
  • NASA awards $178 million Jupiter moon mission contract to Elon Musk’s SpaceX.
  • Tokyo Olympics: Mary Kom, hockey captain Manpreet Singh India’s flagbearers at opening ceremony.
  • Mirabai Chanu wins silver, opens India’s medal account on Day 1.
  • Boxer Lovlina Borgohain assures second medal for India.
  • Women’s hockey: India beat South Africa 4-3 to keep quarterfinals hopes alive.
  • Kamalpreet finishes 2nd in discus qualification to make finals.
  • Brisbane picked to host 2032 Olympics without a rival bid.
  • India Tour of Sri Lanka: India won the ODI series 2-1 ; Sri Lanka defeats India to clinch T20I series 2-1.
  • Dhawan 10th Indian to score 6000 ODI runs, completes 10,000 runs as Opener in International cricket.
  • ENG-W beat IND-W England wins series 2-1.
  • New Zealand’s Devon Conway and England’s Sophie Ecclestone named ICC Players of the month for June.
  • ICC announces new points system for 2nd edition of WTC, Teams to be ranked on percentage of points won.
  • BCCI announces schedule for remainder of VIVO IPL 2021 in UAE, MI to face CSK on September 19.
  • Ashleigh Barty wins maiden Wimbledon women’s title, Novak Djokovic wins his 6th Wimbledon title.
  • Argentina beat Brazil 1-0 to win Copa America, 1st major title in 28 yrs.
  • Euro 2020 Final: Italy beat England 3-2 on penalties in London to win their second European Championship.

 

Business News

  • Lok Sabha passes Insolvency and Bankruptcy Code (Amendment) Bill 2021.
  • Cabinet approves BharatNet implementation strategy across 16 states through PPP Model.
  • Cabinet approves amendment to Limited Liability Partnership Act, 12 offences to be decriminalised.
  • Government announces inclusion of Retail and Wholesale trades as MSMEs.
  • Centre releases ₹75,000 crore to states and UTs, nearly half of FY22 GST compensation shortfall.
  • Centre approves ₹6,322 crore PLI scheme for specialty steel; to create 5.25 lakh jobs.
  • Nitin Gadkari inaugurates country’s first LNG facility plant at Nagpur.
  • 8 new routes to boost regional aerial connectivity from MP to Maharashtra, Gujarat.
  • 59 airports including 2 water aerodromes and 5 heliports operationalized under RCS-UDAN.
  • Odisha CM inaugurates Tata Consumer Products’ ₹100 crore tea packaging plant in Gopalpur.
  • CBDT extends e-filing of IT Forms 15CA,15CB till 15th August.
  • RBI bars Mastercard from adding customers in India from July 22.
  • India Pesticides, Zomato, Clean Science, GR Infraprojects, Tatva Chintan make their market debuts.
  • Govt to procure 66 crore doses of Covishield, Covaxin at ₹205 and ₹215 per dose, respectively.
  • Bharat Biotech commits to supply 500 million doses of Covaxin to Centre for immunisation programme.
  • Covaxin offers 93.4% protection from severe COVID, 65.2% immunity against Delta variant.
  • MSN Labs, BDR Pharma, Bajaj Healthcare get license deal with DRDO for COVID-19 drug 2-DG.
  • Dr Reddy’s soft launches Sputnik V vaccine in 50 cities including Delhi and Mumbai.
  • India’s Morepen manufactures first test batch of Russia’s Sputnik V vaccine.
  • Govt caps trade margin for pulse oximeter, BP monitoring machine, 3 other medical devices.
  • NPPA allows 50% price hike for ibuprofen, ranitidine, carbamazepine.
  • Maharashtra unveils new EV policy, increases subsidies; aims 10% share in total registrations by 2025.
  • Rajasthan announces subsidies for e-2W, e-3W buyers.
  • Maruti Suzuki India lines up ₹18,000 crore investment for new manufacturing plant in Haryana.
  • Ashok Leyland to invest up to $200 million in EVs via Switch Mobility.
  • Tata Motors launches new brand ‘XPRES’ for fleet customers.
  • Daimler, Volvo and Traton plan $600 million truck-charging JV.
  • Alibaba Backed AutoX Achieves True Driverless Robot Taxi Service In China.
  • Ola opens bookings for electric scooter at ₹499; receives 1 lakh reservations in the first 24 hours.
  • Ola Electric signs $100 million long-term loan with Bank of Baroda.
  • Ceat to invest about ₹1,000 crore capital expenditure for various expansion projects this fiscal year.
  • OPEC+ meets to agree oil supply boost as prices rise.
  • Zurich airport signs shareholder agreement with NIAL for development of Noida airport.
  • Billionaire Richard Branson reaches Space, safely returns to Earth.
  • Blue Origin’s first passenger Spaceflight with jeff Bezos & crew successfully complete historic space launch.
  • Centre inks MoUs with Microsoft, Amazon, Patanjali for farm data project.
  • HCL Technologies selected as a strategic launch partner for Microsoft cloud for Financial Services.
  • IBM signs 10-year partnership with Bangalore International Airport for digital transformation.
  • TCS enters pact with OTT platform SonyLIV as its technology partner.
  • Vijay Mallya declared bankrupt by UK High Court for Indian bank to realise debt.
  • Facebook submits compliance report as directed by new IT Law.
  • WhatsApp puts privacy policy on hold till data protection bill comes into force.
  • Cairn Energy secures French court order to seize 20 Indian government properties.
  • Kitex group enters into ₹1,000 crore investment deal in Telangana, to set up factories in Warangal district.
  • Adani Group takes over Mumbai airport management, now controls 33% of India’s air cargo traffic.
  • World Bank deployed $157 billion to fight pandemic in 15 months.
  • IMF approves policy reforms to support recovery of low-income nations.
  • Asian Development Bank lowers India’s economic growth forecast for this fiscal to 10% from 11%.
  • 130 countries agree to Biden-backed 15% global minimum tax for companies.
  • G20 approves global corporate tax rate of at least 15%.
  • US Senate passes bill to ban all imports from China’s Xinjiang over allegations of rights abuse.
  • Pentagon cancels $10 billion Joint Enterprise Defense Infrastructure contract given to Microsoft.
  • Salesforce finalizes $27.7 billion Slack acquisition.
  • Verizon Business signs 5G contactless payment deal with Mastercard.
  • Byju’s acquires Epic for $500 million; buys Great Learning for $600 million.
  • Airtel Business, Cisco partner for connectivity solutions for enterprises.
  • •OYO raises $660 million term loan funding from global institutional investors.
  • Govt approves up to ₹15,000 crore FDI investment proposal from Voda Idea.
  • Reliance Retail acquires majority stake of 66.95% stake in Just Dial for ₹3,497 crore.
  • EU fines Volkswagen, BMW $1.036 billion in for emissions cartel.
  • France fines Google $593 million over copyright row.
  • India’s ranking jumps to 90.32% in 2021 in UN Global Survey on Digital and Sustainable Trade Facilitation.
  • RBI clears Shyam Srinivasan’s reappointment as Federal Bank MD & CEO for 3 years.
  • Shiv Nadar resigns as MD of HCL, named Chairman Emeritus; C Vijayakumar, President & CEO named MD.
  • Kenneth Juster named advisor to Global Board of US India Business Council.
  • Jeff Bezos to hand over the job of Amazon chief executive on July 5 to Andy Jassy.
  • Aditya Ghosh to join as co-founder Rakesh Jhunjhunwala’s Akasa Airlines

 

Q1 Results

  • Reliance Industries Q1 Profit after tax jumps 67% YoY to ₹13,806 crore, revenue at ₹1.44 lakh crore.
  • HDFC Bank Q1 profit rises 14% to ₹7,922 crore, NII rose 14% to ₹17,009 crore, GNPA up at 1.47%.
  • ICICI Bank Q1 Net profit rises 78% YoY to ₹4,616 crore as provisions fall; NII rose 18% to ₹10,936 crore.
  • Kotak Mahindra Bank Q1 Net profit rises 32% YoY to ₹1,642 crore, NII rose 6% to ₹3,942.
  • IndusInd Bank Q1 net profit doubled to ₹1,016 crore, NII increased 8% to ₹3,564 crore.
  • Maruti Suzuki Q1 net profit rose to ₹440.8 crore, revenue soars 333% to ₹17,770.7 crore.
  • TCS Q1 Profit rises 29% YoY to ₹9,008 crore, revenue at ₹45,411 crore, approves ₹7/share dividend.
  • Infosys Q1 Profit rises to Rs 5,195 crore, revenue climbs to Rs 27,896 crore
  • Wipro Q1 net profit rises 9% QoQ to ₹3,243 crore, revenues rises 12.4% to ₹18,252 crore.
  • HCL Tech Q1 PAT rises by 9% to ₹3,214 crore, revenue at ₹20,068 crore; declares ₹6/share dividend.
  • Tech Mahindra Q1 profit jumps 39% YoY to ₹1,353 crore, revenue grew 11.98% YoY at ₹10,197.6 crore.
  • Tata Motors Q1 Consolidated net loss narrows to ₹4,451 crore, revenue up 108% YoY at ₹66,406 crore.
  • Hindustan Unilever Q1 net profit rises 9.6% to ₹2,061 crore, revenue rose 12.8% to ₹11,915 crore.
  • ITC Q1 profit rises 28.6% YoY to ₹3,013.5 crore, revenue jumps 36.4% to ₹12,959 crore.
WORLD INDICES
Indices 30-Jul 30-Jun %1M 01-Jan % since Jan
BSE 52587 52483 0.20% 41306 27.31%
NSE 15763 15722 0.26% 12183 29.39%
DOW 34935 34503 1.25% 28538 22.42%
NASDAQ 14673 14504 1.16% 8973 63.53%
FTSE 7032 7037 -0.07% 7542 -6.76%
Nikkei 27284 28792 -5.24% 23657 15.33%
Hang Seng 25961 28828 -9.94% 28190 -7.91%
Straits Times 3167 3247 -2.47% 3223 -1.73%
Shanghai 3397 3591 -5.40% 3050 11.38%
USD 74.41 74.33 0.11% 71.22 4.48%
Euro 88.34 88.29 0.05% 79.94 10.52%
GBP 103.52 102.84 0.66% 94.36 9.71%
Yen/100INR 0.68 0.67 1.00% 0.66 3.51%
Gold 47875 46831 2.23% 39067 22.55%
Silver 67885 68080 -0.29% 46665 45.47%
Crude Brent$ 76.33 75.13 1.60% 66.29 15.15%
Crude Nymex $ 73.95 73.72 0.31% 61.30 20.64%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
30-Jul 34584 30480 10049 36052 14425
31-Jun 34772 29168 10600 36093 14309
% 1M -0.54% 4.50% -5.21% -0.11% 0.81%
01-Jan 32103 15722 8210 30234 8047
% since Jan 7.73% 93.87% 22.39% 19.24% 79.26%

INDIAN TRADE(USD MILLION)
Exports 32500
Imports 41870
FDI 9140
Government Bond 10Y 6.20%
GDP YoY 1.60%
Inflation Rate 6.26%
Forex Reserves $ M 611149
IIP % -8.00%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs. crore) MF (Rs. crore)
Equity (10,188) 13,911
Debt (759) 12,341
Total 1 M (10,947) 26,252
Total Since Jan 31,266 67,697
Equity 50,083 (7,927)
Debt (18,817) 75,624

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