August 1, 2022 by BizWhiz Admin in Economy Snapshot 0 comments 134

General News

  • Droupadi Murmu elected as 15th President of India; wins presidential elections with 64% votes.
  • Vice President: NDA picks ex-Bengal Governor Jagdeep Dhankhar; Opposition picks Margaret Alva.
  • Monsoon session of Parliament commenced on July 18 to continue till August 12.
  • Union ministers Mukhtar Abbas Naqvi, RCP Singh quit as Rajya Sabha terms end.
  • Smriti Irani gets additional charge of Minority Affairs; Scindia assigned Steel Ministry.
  • PT Usha, Ilaiyaraaja, V Vijayendra Prasad, and Veerendra Heggade nominated to Rajya Sabha.
  • Both Houses of Parliament witness frequent disruptions following Opposition uproar on different issues.
  • Aerospace major Safran group to set up $150-million overhaul, repair facility in Hyderabad.
  • NSA Ajit Doval meets his UK counterpart, discuss regional security, cooperation in defence sector.
  • Indian Army, Navy begin recruitment under Agnipath scheme: Navy to induct around 20% women.
  • India’s first Indigenous Aircraft Carrier ‘Vikrant’ handed over to Indian Navy.
  • Jaishankar meets Chinese Foreign Minister Wang Yi and Russian Foreign Minister Lavrov in Bali.
  • COVID Vaccination Amrit Mahotsava: Free COVID booster drive for adults aged 18-75 years launched.
  • India’s total COVID – 19 cases at 4.4 crore; 68.5% of population fully vaccinated.
  • Centre issues guidelines for Monkeypox patients; invites bid to develop vaccine.
  • Maharashtra CM Eknath Shinde wins trust vote with 164 votes.
  • Odisha govt hikes sports budget to ₹911 crore to amp up infrastructure.
  • AIADMK general council expels O Panneerselvam; Palaniswami made party’s interim general secretary.
  • Sonia Gandhi appears before ED for questioning in National Herald case.
  • ED arrests West Bengal Minister Partha Chatterjee in teacher recruitment scam in the state.
  • Assam, Arunachal Pradesh sign pact aiming to solve border dispute.
  • India, UK ink pact for mutual recognition of educational degrees.
  • NIRF India Rankings 2022: IIT Madras top institute in India, IISc Bengaluru top university.
  • CBSE result 2022: Pass percentage recorded at 94.4% for Class 10 and 92.71% for Class 12.
  • Monsoon covers entire country six days ahead of its normal schedule.
  • 68th National Film Awards announced; Suriya, Ajay Devgn share Best Actor award.
  • Russia moves towards complete liberation of Ukraine’s easter region of Donetsk and Luhansk.
  • Ukraine and Russia sign UN-backed deal to restart grain exports to world markets.
  • Ukrainian President Zelenskyy sacks top security chief and prosecutor citing treason.
  • US commits approximately $8.2 billion in security assistance to Ukraine under President Joe Biden.
  • Biden speaks with China’s Xi amid tensions with Taiwan; agree to hold a face-to-face summit.
  • US, Israel sign joint pledge on denying nuclear weapon to Iran.
  • Boris Johnson quit as Prime Minister after unprecedented exodus of ministers.
  • Rishi Sunak and Liz Truss reach final two in race to become next UK Prime Minister.
  • European Union approves fresh aid of €1 billion for Ukraine.
  • Japan’s former PM Shinzo Abe assassinated at campaign event
  • Italian PM Mario Draghi quits; Yair Lapid takes over as 14th Prime Minister.
  • Saudi Arabia, US agree to strengthen cooperation in tech, science.
  • Sri Lankan President Gotabaya Rajapaksa flees the country; Ranil Wickremesinghe elected new President.
  • Dinesh Gunawardena takes oath as Sri Lanka’s new Prime Minister.
  • Sri Lanka’s parliament extends state of emergency till August 14.
  • French President Macron and UAE President Al Nahyan sign deal on energy cooperation.
  • WHO Chief warns against COVID-19 infections surge; declares monkeypox a global emergency.
  • Global COVID caseload rises to 57.7 crore, fatalities at 64 lakh.
  • China’s Wuhan locks down 1 million residents.
  • US-China top diplomats reach consensus on not seeking new ‘Cold War’ on sidelines of G20 summit.
    Economy / Market Snapshot – July 2022
  • Hong Kong marks 25th handover anniversary; China’s Xi swears in John Lee as new Hong Kong leader.
  • ISSF Shooting World Cup: India tops medal tally with 15 medals, including 5 gold, 6 silver and 4 bronze.
  • World Athletics Championships 2022: Neeraj Chopra becomes first Indian ever to win silver.
  • IND – ENG Test series drawn; Bumrah breaks Lara’s world record, smashes 35 runs in 1 over in Test cricket.
  • India win T20 and ODI series 2-1 against England; India clean sweep ODI series in West Indies.
  • Rohit Sharma becomes first captain to record 13 successive T20I wins.
  • Harmanpreet Kaur to lead 15-member Indian women’s cricket squad in Commonwealth Games.
  • ICC ODI Rankings: India remain at third place in ODI ; India slumps to fifth in Test rankings.
  • India to host 2025 Women’s ODI World Cup; Lord’s to host World Test Championship Finals in 2023, 2025.
  • Singapore Open : PV Sindhu beats Asian Champion Wang Zhi Yi to claim her maiden Super 500 title.
  • PM Modi declares open 44th Chess Olympiad, says must encourage sporting talent.
  • Commonwealth Games 2022 kicks-off in Birmingham; PV Sindhu, Manpreet Singh lead Indian contingent.
  • Wimbledon: Djokovic wins 7th title & 21st Grand Slam; Kazakh’s Elena Rybakina wins women’s title.

 

Business News

  • Govt notifies procedural changes in GST rules to ease compliance burden on small players.
  • GST e-invoices for B2B transactions to be mandatory for companies with over ₹5 crore annual turnover.
  • 5% GST on all pre-packed, labelled food items and hospital rooms costing more over ₹5,000
  • Govt cuts windfall tax on petrol, diesel exports; excise on crude oil cut to ₹17,000 per tonne.
  • Govt exempts excise duty on ATF purchases by Indian carriers for overseas flights.
  • Govt forms panel to make ‘more effective and transparent’ MSP.
  • Government launches scheme for pharma sector to step up capacity, upgrade to global standards.
  • Govt cuts base import prices of gold, silver, edible oil amid easing commodity prices.
  • Exports of agricultural and processed food products rise by 14% in first three months of FY23.
  • Centre relaxes FCRA rules, allows relatives living abroad to send up to ₹10 lakh without disclosing it.
  • India Manufacturing PMI falls to 53.9 in June; services sector PMI hits 11-year high in June.
  • Domestic LPG cylinder’s prices increased by ₹50/cylinder.
  • UAE, US to invest $2.3 billion in India under the framework of I2U2.
  • 5G spectrum auction opens: Jio, Airtel, Vi, Adani Data Networks in the fray.
  • PM Modi inaugurates Jharkhand’s 2nd airport in Deoghar; unveils projects over ₹16,000 crore.
  • Jyotiraditya Scindia announces 14 new air routes, three more airports for Jharkhand.
  • DGCA orders SpiceJet to operate 50% of approved flights for 8 weeks following multiple snags.
  • Defence Ministry approves HDFC, ICICI, and Axis to provide financial services in overseas procurement.
  • PM Modi launches India’s first international gold exchange.
  • Govt appoints 29 members in Board of Trade, to be chaired by the commerce and industry minister.
  • FY22 ITR filing: Over 68 lakh returns filed till 11 pm on last day, July 31.
  • RBI allows settlement in rupee to settle trade with Russia, Sri Lanka.
  • RBI, Bank Indonesia sign MoU in Bali to expand cooperation in payment systems.
  • Card tokenisation: RBI allows acquiring banks to store card details until January 31.
  • IRDAI and NHA to develop National Health Claims Exchange to settle claims.
  • Delhi Shopping Festival: CM Arvind Kejriwal announces India’s biggest shopping festival in 2023.
  • Nepal exports over 3000 sacks of cement to India for first time.
  • IMF reaches deal with Pakistan to revive $6 billion bailout.
  • Eurozone inflation rises to 8.6%, the highest ever; Euro hits parity with US dollar for first time in 20 years.
  • UK inflation hits new 40-year high of 9.4% as cost-of-living crisis deepens.
  • Sri Lanka introduces fuel pass for orderly distribution.
  • China, Hong Kong to launch rate ‘Swap Connect’ in boost to financial integration.
    Economy / Market Snapshot – July 2022
  • UK signs its first data sharing deal post-Brexit, with South Korea.
  • India, China buy Russian oil and gas worth $24 billion in 3 months.
  • Russia cuts gas through Nord Stream 1 to 20% of capacity, Germany dubs a political move.
  • Tata Steel and BHP ink pact to develop low carbon steelmaking technologies.
  • VIL shareholders approve ₹436 crore equity allocation to its promoter Vodafone Group.
  • UP govt ropes in Deloitte to make state $1 trillion economy.
  • TCS launches its 5th global research and innovation centre in Toronto.
  • Infosys to acquire Denmark-based BASE life science for €110 million.
  • Wipro steps up investments in metaverse, web3, robotics and other emerging areas.
  • Agnikul Cosmos opens India’s first private rocket engine factory in Chennai.
  • Centre sends show cause notice to Ola Electric, Okinawa, others on EV fires.
  • Delhi govt’s draft policy mandates all-electric fleet for cabs, food delivery firms by April 2030.
  • GM calls off plan to sell India car plant to China’s Great Wall.
  • Ford’s last made-in-India car White EcoSport rolls out from Chennai plant.
  • BMW to co-develop high-end e-bikes with TVS Motor for global markets.
  • Ola unveils India’s first indigenously made lithium ion-cell.
  • Hindalco, Indian Oil and Israel’s Phinergy join hands to make aluminum-air batteries.
  • Akasa Air Airlines gets Air Operator Certificate from DGCA; to offer 56 weekly flights starting Aug 7.
  • SII gets govt nod to export 32.4 lakh doses of Covovax vaccine to US.
  • Meta to shut down its crypto wallet Novi by September.
  • Pine Labs, Razorpay, Stripe become first to bag RBI’s payment aggregator licences.
  • Google, MapMyIndia announce 3D maps for Indian cities.
  • Elon Musk terminates $44 billion Twitter deal; Twitter urges shareholders to approve sale to Musk .
  • Parameswaran Iyer takes over as new Chief Executive Officer of NITI Aayog.
  • Ashish kumar Chauhan quits as BSE chief to join NSE as MD & CEO.
  • Ola Electric’s head of charging network quits; 32nd resignation since 2020.

 

Q1 Results

  • TCS Q1 profit jumps 5% YoY to ₹9,478 crore, revenue up 17% ₹52,758 crore, announces dividend ₹8/share.
  • HCL Tech Q1 net falls 8.6% sequentially to ₹3,283 crore, declares dividend of ₹10.
  • Wipro Q1 Profit falls 21% YoY to ₹2,563 crore, revenue rose 17.9% to ₹21,528 crore.
  • Infosys Q1 profit up 3.2% YoY to ₹5,360 crore; revenue grew 23.6% to ₹34,470 crore.
  • Tech Mahindra Q1 Profit slides 16% YoY to ₹1,132 crore; revenue up 25% to ₹12,708 crore.
  • HDFC bank’s net profit up by 19% YoY at ₹9,196 crore; NII grows 14.5% to ₹19,481.4 crore.
  • Kotak Mahindra Bank Q1 profit up 26% at ₹2,071 crore on lower provisions, NII grew 19% to ₹4,697 crore.
  • YES Bank Q1 profit jumps 50% to ₹311 crore, NII rose 32% YoY to ₹1,850 crore.
  • ICICI Bank Q1 profit rises 50% YoY to ₹6,905 crore, NII rose 21% to ₹13,210 crore.
  • Axis Bank Q1 net shoots up 91% YoY to ₹4,125 crore, NII rose 21% YoY to ₹9,384 crore.
  • Maruti Q1 Profit up 130% YoY at ₹1012.8 crore, revenue up 49% at ₹26,499.8 crore.
  • Tata Motors Q1 loss widens to ₹5,007 crore; revenue jumps 8.32% YoY to ₹71,934.66 crore.
  • Ashok Leyland posts net profit of ₹96 crore in Q1; revenue more than doubles to ₹7,223 crore.
  • Bajaj Auto Q1 profit dips marginally to ₹1,163 crore, total revenue rises to ₹8,005 crore.
  • TVS Motor Q1 PAT rises by 506% YoY to ₹321 crore; operating revenue up by 56% to ₹7,315.70 crore.
  • HUL’s net profit at 14% YoY at ₹2,391 crore; total income up 20% at ₹14,757 crore.
  • RIL Q1 profit soars 46% YoY to ₹17,955 crore; revenue jumps 54.5% to ₹2,23,113 crore.
  • Sun Pharma Q1 profit surges 43% YoY to ₹2,061 crore, revenue grew 10.73% YoY to ₹10,761.76 crore.
  • Biocon Q1 profit rises 71% to ₹144 crore, revenue up 23% to ₹2,217 crore.

 

WORLD INDICES
Indices 29-Jul 30-Jun % 1M 04-Jan % since Jan
BSE 57570 53019 8.58% /td>

59856 -3.82%
NSE 17158 15780 8.73% 17805 -3.63%
DOW 32845 30775 6.73% 36800 -10.75%
NASDAQ 12391 11029 12.35% 15623 -20.69%
FTSE 7423 7169 3.54% 7505 -1.09%
Nikkei 27802 26393 5.34% 29302 -5.12%
Hang Seng 20157 21860 -7.79% 23290 -13.45%
Straits Times 3212 3102 3.52% 3181 0.96%
Shanghai 3253 3399 -4.28% 3632 -10.44%
USD 79.25 78.97 0.36% 74.55 6.30%
Euro 81.01 82.65 -1.99% 84.15 -3.74%
GBP 96.43 95.90 0.55% 100.91 -4.43%
Yen/100INR 0.60 0.58 2.01% 0.64 -7.39%
Gold 51430 50569 1.70% 47950 7.26%
Silver 58352 58509 -0.27% 62247 -6.26%
Crude Brent $ 104.00 109.67 -5.17% 79.77 30.37%
Crude Nymex $ 98.30 106.28 -7.51% 76.80 27.99%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
29-Jul 37491 29152 12543 42487 12777
30-Jun 33425 27843 11701 37665 12159
% 1M 12.17% 4.70% 7.20% 12.80% 5.08%
04-Jan 36840 39371 11139 37800 14041
% since Jan 1.77% -25.95% 12.60% 12.40% -9.00%

INDIAN TRADE(USD MILLION)
Exports in ($ Bn) 40.13
Imports ($ Bn) 66.31
FDI 4919
Government Bond 10Y 7.30%
GDP YoY 4.10%
Inflation Rate 7.01%
Forex Reserves ($ Bn) 571560
IIP % 2.30%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII(Rs. crore) MF(Rs. crore)
Equity (1,202) 3,707
Debt (1,131) (7,121)
Total 1 M (2,332) 10,828
Total Since Jan (2,15,492) 1,13,881
Equity (2,02,940) 1,22,861
Debt (12,551) (8,980)

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