August 2, 2023 by BizWhiz Admin in Economy Snapshot 0 comments 111

General News

  • Monsoon session: Both Houses of Parliament face continuous disruptions over Manipur issue.
  • Jagdeep Dhankhar reconstitutes Rajya Sabha panel of vice-chairpersons; half of them women.
  • Jaishankar, Derek O’Brien among 11 elected to Rajya Sabha from 3 states.
  • Lok Sabha Speaker accepts the no-confidence motion moved by the opposition against the Modi govt.
  • PM Modi, President Macron participate in Bastille Day celebrations in Paris;
  • PM conferred with France’s highest award ‘Grand Cross of Legion of Honour’.
  • PM Modi arrives in UAE for bilateral talks; Energy, defence and food security part of agenda.
  • PM Modi holds talks with Sri Lankan President Ranil Wickremesinghe.
  • PM Modi chairs 23rd SCO Summit virtually; China’s Jinping, Russia’s Putin, Pakistan’s Shehbaz Sharif joins.
  • Ajit Doval meets Chinese diplomat Wang Yi, highlights need to restore peace in border areas.
  • EAM S Jaishankar meets Myanmar counterpart; discusses India-Myanmar-Thailand trilateral highway.
  • Congress appoints Kanhaiya Kumar as AICC in-charge of National Students’ Union of India.
  • 28 opposition parties meet in Bengaluru for 2-day unity meeting to discuss strategies ahead of 2024 polls.
  • UPA renamed as Indian National Democratic Inclusive Alliance(INDIA) ahead of the 2024 Lok Sabha polls.
  • 39 NDA allies vow to contest 2024 LS polls under Modi’s leadership in resolution.
  • Electoral bonds 2023: Sale of 27th tranche begins; SBI authorised bank to issue electoral bonds.
  • ECI approves Edappadi K Palaniswami as general secretary of AIADMK.
  • Chirag Paswan joins NDA after meeting with JP Nadda and Amit Shah.
  • Rajnath Singh inaugurates HAL’s regional office in Kuala Lumpur.
  • Ajit Pawar swears in as second Deputy CM of Maharashtra; stakes claim to NCP and party symbol.
  • Naveen Patnaik beats Jyoti Basu as 2nd longest-serving CM after Pawan Chamling.
  • Karnataka CM Siddaramaiah presents ₹3.27 lakh crore budget; announces new education policy.
  • Congress government in Chhattisgarh survives no-trust motion moved by BJP.
  • Bengal panchayat poll: TMC bags 34,560 gram panchayat seats, BJP wins 9,621 seats.
  • Chandrayaan-3: India’s historic Moon mission lifts off successfully, expected to land on 23 August 2023.
  • ISRO successfully launches 7 Singaporean satellites on board PSLV-C56 rocket from Sriharikota.
  • Centre eases covid norms, drops random RT-PCR tests for international passengers.
  • Monsoon covers entire country six days early: IMD.
  • Water level in Yamuna River in Delhi rises due to heavy rainfall in northern part of India.
  • MoD, FSSAI sign MoU to promote use of millets, healthy eating practices among armed forces personnel.
  • Supreme Court extends Enforcement Directorate chief’s tenure.
  • CBI takes over probe, files FIR in Manipur video case.
  • Rahul Gandhi moves Supreme Court against Gujarat HC order in ‘Modi surname remark’ case.
  • Land for jobs scam: CBI files fresh charge sheet against Lalu, Rabri; names Tejashwi for first time.
  • Allahabad High Court extends stay on ASI survey till August 3.
  • India’s first ‘Tele-MANAS’ chat-bot to ensure 24X7 services launched in J&K.
  • First-ever IIT campus outside India to be set up at Zanzibar in Tanzania.
  • Oommen Chandy, former Kerala chief minister and Congress veteran, passes away at 79.
  • Russia halts wartime deal that allows Ukraine to ship grain.
  • NATO chief says no timetable set for Ukraine’s membership; Volodymyr Zelenskyy calls it ‘absurd’.
  • US flies nuclear-capable bombers in a fresh show of force against North Korea.
  • US rejoins UNESCO, reversing Trump withdrawal.
  • British Parliament passes controversial illegal migration bill, UN says it is against international law.
  • Bulgaria agrees to send heavy military equipment to Ukraine for the first time since the invasion.
  • French President Macron holds discussions with Wickremesinghe during historic Sri Lanka visit.
  • Israel launches biggest military operation in West Bank in 20 years.
  • Ex-Lankan President Sirisena pays Rs 15 million in compensation to victims of 2019 Easter bombings.
  • Pakistan’s major ruling coalition partners agree to dissolve National Assembly.
  • Egypt, Turkey upgrade diplomatic relations by announcing new ambassadors after a decade.
  • Record heatwaves sweep the world from US to Japan via Europe.
  • South Korean President Yoon Suk Yeol pledges $150 million aid to Ukraine after talks with Zelenskiy.
  • North Korean leader Kim Jong Un met with Russian Defence Minister Sergei Shoigu.
  • China sends warships and fighter jets near Taiwan during Yellen’s Beijing visit.
  • WFI ad-hoc panel hands direct Asian Games entries to Bajrang Punia, Vinesh Phogat.
  • Satwiksairaj Rankireddy & Chirag Shetty win Korea Open 2023 men’s doubles title.
  • Canada Open 2023: Lakshya Sen beats Lo Shi Feng in the final to clinch the title.
  • Dipika Pallikal-Harinderpal Sandhu triumph at Asian Mixed Doubles Squash Championship.
  • Lausanne Diamond League 2023: Neeraj Chopra wins javelin event with 87.66m throw.
  • India clinch eighth Asian Kabaddi Championship title with thrilling victory over Iran in final.
  • India lifts SAFF Football Championships trophy for ninth time
  • Satwiksairaj Rankireddy ‘smashes’ Guinness world record with fastest badminton hits.
  • ICC announces equal prize money for men’s and women’s teams at ICC events.
  • IND vs WI: India win Test series 1-0, ODI series levelled at 1-1.
  • IND W vs BAN W T20I: India wins the series 2-1.
  • England vs Australi, Ashes: Series tied at 2-2.
  • BCCI appoints Ajit Agarkar as chairman of senior men’s selection committee.
  • Australia’s Victoria pulls out of hosting 2026 Commonwealth Games.
  • Wimbledon 2023: Carlos Alcaraz beats Djokovic to win maiden Wimbledon and second Grand Slam title.
  • Czech’s Marketa Vondrousova becomes first unseeded women’s Wimbledon champion.


Business News

  • Centre approves draft notification to mandate installation of air-conditioning in truck cabins.
  • Cabinet approves amendments to Mines and Minerals Act, allows mining of lithium and other minerals.
  • Rajasthan government tables country’s first gig workers bill.
  • Centre increases windfall tax on crude oil to ₹1,600 per tonne from zero, effective from July 15.
  • Bharat Dal brand: Piyush Goyal launches sale of subsidised chana dal at ₹60 per kg.
  • Govt brings down subsidised rate of tomato to ₹80/kg from ₹90/kg.
  • 50th GST council meeting: Council okays 28% tax on online gaming, casinos and horse racing
  • Council reduces tax on food served in theatres to 5%; MUVs to attract 22% compensation cess.
  • India and Tanzania start trade settlements in local currencies.
  • RBI, CBUAE sign pacts to promote use of rupee, UAE dirham for cross-border transactions.
  • India and Sri Lanka sign network-to-network agreements for the UPI acceptance.
  • RBI asks banks to provide options for customers to select card networks.
  • GIFT Nifty replaces SGX Nifty; LTIMindtree replaces HDFC in Nifty 50.
  • BSE board approves share buyback up to ₹374.80 crore at ₹816 per share via tender offer.
  • Piramal Enterprises announces first-ever share buyback worth ₹1,750 crore.
  • HMA Agro Industries, ideaForge Technology, Cyient DLM, Senco Gold make their market debuts.
  • Reliance demerger: Jio Financial shares valued at ₹261.85 apiece.
  • HDFC Ergo becomes subsidiary of HDFC Ltd, sells 36,42,290 equity shares.
  • Jio Financial Services partners with BlackRock to launch asset management firm.
  • US Fed hikes benchmark lending rate to highest level since 2001 to tackle above-target inflation.
  • ECB raises rates to 23-year high; keeps options open for September.
  • UK Inflation dips below expectations, reaches 15-month low of 7.9%.
  • Saudi Arabia invests $10 billion to build Pakistan’s largest oil refinery in Gwadar .
  • Gautam Adani meets Bangladesh PM Hasina, commissions India’s first transnational power project.
  • Defence ministry signs contract with HAL for Dornier Aircraft worth ₹458 crore.
  • TCS bags multi-year deal from the BBC to transform its finance and payroll functions.
  • RIL joins hands with Brookfield Infrastructure and Digital Realty to develop data centres in India.
  • Tata Sons announces global battery cell gigafactory in the UK.
  • Nissan to invest up to 600 million euro in Renault EV unit as part of new pact.
  • Tesla rolls out its first electric pickup, the Cybertruck.
  • AirAsia India gets approval to operate flights under Air India Express brand.
  • Newest airline FLY91 gets routes under UDAN scheme.
  • Go First gets green light from DGCA to resume operations, but with riders.
  • SpiceJet repays entire ₹100 crore loan to City Union Bank, settles obligations with Nordic Aviation Capital.
  • Tata group set to finalise deal to acquire Wistron factory, become first Indian iPhone maker.
  • Meta officially launches Twitter rival Threads, more than 30 million users signed up.
  • Foxconn withdraws from India’s semiconductor joint venture with Vedanta.
  • Microsoft and Meta expand their AI partnership with Llama 2 on Azure and Windows.
  • China Unveils Its Own Open-Source Operating System for Computers to Rival Windows, MacOS.
  • Wipro launches ai360; to invest US$1 billion in AI.
  • Amazon, Google, Meta, Microsoft and other tech firms agree to AI safeguards set by the White House.
  • Maharashtra govt accords final nod for Adani Properties’ Dharavi redevelopment project.
  • ITC board gives in-principle approval to demerge hotels business.
  • OYO enters premium resorts, hotels category, launches Palette brand.
  • Elon Musk rebrands Twitter to ‘X’ in brand overhaul.
  • BYJU’S holds EGM, proposes formation of board advisory committee to provide CEO strategic guidance.
  • PhonePe sets foot in Point-of-sale device market to raise heat on rival Paytm.
  • Walmart buys out $1.4 billion Tiger Global stake in India’s Flipkart.
  • Hollywood witnesses first big shutdown in 63 years, actors and writers go on strike.

Q1 Results

  • TCS Q1 Net profit rises 16% to ₹11,074 crore, declares dividend of ₹9/share.
  • Infosys Q1 PAT rises 11% YoY to ₹5,945 crore, revenue up by 10% to ₹37,933 crore; cuts revenue guidance.
  • HCL’s Q1 net profit rises by 7% to ₹3,534 crore, revenue at ₹26,296 crore.
  • Tech Mahindra Q1 Net profit down 39% YoY to ₹704 crore, revenue grows 3.5% to ₹13,159 crore.
  • Wipro Q1 PAT rises 12% YoY at ₹2,870 crore; firm pegs Q2 revenue guidance at -2% to +1%.
  • HDFC Bank Q1 net profit jumps 29% YoY to ₹12,370 crore, NII Jumps 21%.
  • Kotak Mahindra Bank Q1 PAT jumps 67% at ₹3,452 crore, NII rises 33% to ₹6,234 crore.
  • YES Bank Q1 Profit rises 10% YoY to ₹343 crore; NII up 8% at ₹1,999.6 crore.
  • Axis Bank Q1 PAT jumps 40% YoY to ₹5,797 crore; NII rises 27% to ₹11,959 crore.
  • Punjab National Bank Q1 net profit jumps four-fold to ₹1,255 crore, NII increased to ₹25,145 crore.
  • Federal Bank Q1 Net profit rises 42% YoY to ₹854 crore; NII up 20%.
  • IndusInd Bank Q1 PAT rises 33% YoY to ₹2,124 crore, income increased by 28% YoY to ₹12,939 crore.
  • Ashok Leyland Q1 net profit soars 747% to ₹576 crore, revenue grew 13.39% to ₹8,151.96 crore.
  • Bajaj Auto Q1 Net profit rises 42% to ₹1,665 crore; revenue up 29%.
  • Tata Motors Q1 Net profit comes at ₹3,203 crore on JLR boost; revenue jumps 42% at ₹1,02,236 crore.
  • L&T Q1 Net spikes 47% to ₹2,493 crore; gets board nod for ₹10,000-crore share buyback at 17% premium.
  • HUL Q1 Net profit up 7.9% at ₹2,472 crore, revenue up 6.4% YoY at ₹15,333 crore.
  • UltraTech Cement Q1 Net profit rises 7% to ₹1,690 crore, revenue grew 17% YoY at ₹17,737.1 crore .
Indices 31-Jul 30-Jun % 1M 02-Jan % since Jan
BSE 66,528 64,719 2.80% 61,168 8.76%
NSE 19,754 19,189 2.94% 18,197 8.55%
DOW 35,560 34,408 3.35% 33,147 7.28%
NASDAQ 14,346 13,788 4.05% 10,466 37.07%
FTSE 7,699 7,532 2.23% 7,452 3.32%
Nikkei 33,172 33,189 -0.05% 26,095 27.12%
Hang Seng 20,079 18,916 6.15% 19,781 1.50%
Straits Times 3,374 3,206 5.24% 3,251 3.77%
Shanghai 3,291 3,202 2.78% 3,089 6.53%
USD 82.25 82.04 0.25% 82.72 -0.57%
Euro 90.79 88.96 2.06% 88.30 2.82%
GBP 105.78 103.62 2.08% 99.91 5.88%
Yen/100INR 0.58 0.57 1.98% 0.64 -9.33%
Gold 59,450 58,190 2.17% 55,586 6.95%
Silver 75,034 69,075 8.63% 70,579 6.31%
Crude Brent $ 85.20 75.19 13.31% 85.50 -0.35%
Crude Nymex $ 81.62 70.45 15.86% 79.92 2.13%
31-Jul 45,651 29,928 15,708 52,637 14,992
30-Jun 44,747 29,563 15,148 52,195 13,768
% 1M 2.02% 1.24% 3.70% 0.85% 8.90%
02-Jan 43,203 28,737 12,668 44,193 12,551
% since Jan 5.67% 4.14% 24.00% 19.11% 19.45%

Exports in ($ Bn) 32.97
Imports ($ Bn) 53.1
FDI 2700
Government Bond 10Y 7.17%
GDP YoY 6.10%
Inflation Rate 4.81%
Forex Reserves ($ Mn) 6,07,040
IIP % 5.20%
Particulars FII (Rs. crore) MF(Rs. crore)
Equity 34,768 1,727
Debt 2,855 6,575
Total 1 M 37,624 8,301
Total Since Jan 1,41,683 55,379
Equity 1,22,063 59,877
Debt 19,620 (4,498)

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