June 1, 2021 by BizWhiz Admin in Economy Snapshot 0 comments 480

General News

  • Assembly Elections: Mamata Banerjee, M K Stalin, Pinarayi Vijayan take oath as Chief Ministers of West Bengal, Tamil Nadu and Kerala respectively.
  • BJP-led NDA retains power with majority in Assam; Himanta Biswa Sarma takes oath as CM of Assam.
  • N Rangasamy sworn in as Chief Minister of first NDA govt in Puducherry.
  • India COVID tally crosses 28 million, 213 million vaccine doses administered; recovery rate at 92.07%.
  • Global Coronavirus caseload tops 171 million; US leads the global tally with 34 million cases.
  • Govt announces pension scheme, insurance cover to support COVID-19 victims’ dependents.
  • Centre and States provide financial aid, education to children orphaned by COVID.
  • Centre directs States to notify black fungus or mucormycosis as an epidemic.
  • States imposes fresh restrictions to Curb COVID; essential services exempted.
  • Plasma therapy dropped from India’s corona treatment protocol: ICMR.
  • DRDO’s anti-COVID drug 2-DG launched; to be available at hospitals from June, price fixed at ₹990/sachet.
  • Serum Institute to produce 10 crore doses by August, Bharat Biotech promises 7.8 crore jabs.
  • SC constitutes 12-member National Task Force to facilitate public health response to COVID crisis.
  • Many States declare journalists ‘frontline workers’, to vaccinate them on priority.
  • S Jaishankar meets UN Chief Antonio Guterres; discuss ramping up global vaccine supply and production.
  • S Jaishankar holds talks with US NSA Jake Sullivan on trade, Quad, vaccines, Indo-pacific.
  • India, UK agree on co-production of military hardware; technology collaboration for combat aircraft.
  • Jaishankar meets Canadian counterpart; discusses Indo-Pacific strategy at India-France-Australia meet.
  • India, EU discuss COVID Health Care cooperation, strengthening of Indo-EU partnership.
  • PM Modi discusses positive outcomes of India-EU Leaders’ meet with French President Macron on phone.
  • India, New Zealand call for rules-based international order and free, open & inclusive Indo-Pacific region.
  • India and Israel sign 3 year work program to train farmers and modernize agriculture.
  • Calcutta HC orders house arrest of 4 leaders held in Narada sting case; grants interim bail.
  • SC strikes down Maratha community reservation in education, jobs exceeding 50%.
  • Engineering, other technical institutes to begin classes by September 15: AICTE.
  • Tribal Affairs Ministry & Microsoft sign MoU for digital transformation of Tribal Schools.
  • Centre grants one-year extension of tenure to chiefs of Intelligence Bureau, R&AW.
  • Subodh Kumar Jaiswal, former Maharashtra DGP, appointed CBI director for 2 years.
  • Telangana signs MoU with NHA for implementing Ayushman Bharat.
  • Cyclone Tauktae, the biggest to hit the region in decades, makes landfall in Gujarat.
  • Cyclone Yaas makes landfall in Balasore, triggers heavy damage
  • WHO approves Moderna, Sinopharm COVID-19 vaccines for emergency use in all countries.
  • WHO classifies B1617 COVID-19 variant, first identified in India, as variant of global concern.
  • Nepal President announces mid-term polls in November as parties fail to stake claim to form govt.
  • BRICS agrees to devise framework for social security agreement.
  • Singapore shuts schools as new Coronavirus strain affects more children.
  • US President Biden proposes $6 trillion budget to boost infrastructure, education and climate.
  • Biden raises US refugee admissions cap to 62,500 after delay sparks anger.
  • Pentagon cancels Trump’s Mexico wall projects using military funds.
  • European Commission calls on EU member states to temporarily restrict travel from India.
  • EU signs third contract with BioNTech-Pfizer for 1.8 billion vaccine doses.
  • Xi and Putin jointly launch construction of new reactors in joint nuclear energy project.
  • China builds key highway through Brahmaputra Canyon in Tibet close to Arunachal Pradesh border.
  • Russia approves single-dose version of Sputnik V vaccine – Sputnik Light.
  • Australia resumes repatriation flights from India for stranded citizens.
  • Myanmar’s Aung San Suu Kyi appears in court in person for first time since coup.
  • Syria President Bashar Assad re-elected for fourth time with 95% of votes.
  • Israel, Hamas agree to ceasefire to end 11 days of deadly fighting.
  • Japan to extend Coronavirus emergency in Tokyo until month before Olympics.
  • Pfzier and BioNTech to donate COVID-19 vaccines for Olympic athletes: International Olympic Committee.
  • IPL 2021 suspended after players test positive for COVID; remainder to be held in UAE in Sep-Oct.
  • India retain top spot in ICC Test team rankings, second place in the ICC T20, drops to 3rd in ODI chart .
  • Indian Women’s tour of England: Mithali Raj will lead the side in the Test and ODIs.
  • Ashes 2021-22 to start on December 9; Perth set to host final Test.
  • Asian Boxing Championships: Pooja Rani bags gold; Mary Kom, Lalbuatsaihi and Anupama settle for Silver.
  • Rafael Nadal beats Novak Djokovic to win 10th Italian Open title.

 

Business News

  • GST Council exempts import duty on COVID-19 related supplies till Aug 31.
  • IGST on import of COVID related medical supplies waived off; IGST on oxygen concentrators for personal use slashed to 12%.
  • Centre to borrow additional ₹1.58 lakh crore to make up for GST compensation shortfall.
  • Union Food Processing Ministry sets a target of 13,000 mini food parks in Assam.
  • Pollution control body asks 30 industries to modify nitrogen plants for medical oxygen.
  • State-run oil companies to set up 100 oxygen generation plants at hospitals.
  • Govt makes vehicle location tracking devices mandatory for oxygen containers; exempts toll fee.
  • Road ministry notifies changes in motor vehicle rules on vehicle ownership transfer.
  • Centre releases first instalment of ₹8,873.6 crore under State Disaster Response Fund to states.
  • Centre releases over ₹8,923 crore to 25 States for providing grants to Rural Local Bodies.
  • Indian Railways crosses milestone of delivering over 20,000 MT oxygen.
  • PM releases eighth instalment worth over ₹20,000 crore to 9.5 crore farmers under PM-KISAN scheme.
  • Special Window for Affordable & Mid-Income Housing fund completes its first residential project,.
  • Cabinet approves ₹18,000 crore PLI scheme for battery storage manufacturing.
  • DGCA extends suspension of scheduled international passenger flights till 30th June.
  • Civil Aviation Ministry cuts airline capacity to 50% from June 1.
  • Govt hikes DAP fertiliser subsidy by 140%, to spend additional ₹14,775 crore.
  • Govt extends deadline for mandatory hallmarking of gold jewellery till June 15.
  • Govt extends FY21 ITR filing deadline for individuals till September 30.
  • RBI unveils liquidity support measures; allots ₹50,000 crore for COVID-related healthcare infrastructure
  • RBI offers fresh loan moratorium to Individual, small borrowers having loans up to ₹25 crore.
  • RBI approves transfer of ₹99,122 crore surplus to Centre for 9 months ended in March.
  • RBI issues guidelines for amalgamation of district central co-op banks with state co-op banks.
  • Govt garners ₹4,000 crore via 1.95% stake sale in Axis Bank.
  • Bank of Baroda sanctions ₹500 crore to Serum Institute under RBI’s ₹50,000 crore liquidity facility.
  • Axis Bank, Anchor investor Bay Tree India cur their stakes in Yes Bank.
  • Govt notifies final rules for 74% foreign investment in insurance sector.
  • Indiabulls Housing Fin sells MF business to Groww for ₹175 crore.
  • IMF unveils $50 billion proposal to vaccinate 40% of entire population by 2021-end.
  • Roche launches COVID-19 ‘Antibody Cocktail’ in India at ₹59,750 per dose; Cipla to market drug in country.
  • Govt rejects Serum Institute of India’s request to export 50 lakh doses of Covishield vaccine to UK.
  • Russian Direct Investment Fund, Panacea Biotec launch production of Sputnik V vaccine in India.
  • Apollo Hospitals, Dr Reddy’s announce Covid-19 vaccination programme with Sputnik V.
  • Shilpa Medicare arm inks pact with Dr Reddy’s to manufacture Sputnik V vaccine.
  • Pfizer, Moderna, J&J pledge 1.3 billion doses of Covid-19 vaccines to less wealthy nations.
  • China’s Fosun Pharma signs deal for 1 billion vaccines with BioNTech.
  • Moderna inks deal with UN’s GAVI to supply 500 million doses to low and middle-income countries.
  • India, UK unveil 10-year road map to elevate bilateral trade partnership; to enhance vaccine partnership .
  • US, Pakistan agree to continue Trade and Investment Framework (TIFA) agreement dialogue.China bans financial, payment institutions from cryptocurrency business.
  • Cairn Energy sues Air India in U.S. court to enforce $1.2 billion arbitration award.
  • Mehul Choksi arrested in Dominica; India sends private jet to Dominica carrying deportation documents.
  • Vijay Mallya loses bankruptcy petition amendment High Court battle in UK.
  • Hyundai, Kia shut down facilities in home base in the wake of the predicted semiconductor turmoil.
  • Renault-Nissan, Hyundai face temporary closures in Chennai over workers’ COVID fears.
  • Govt approves 13 5G trial applications with no Chinese Vendors.
  • Rajasthan Govt approves Saint Gobain’s ₹1200 crore investment plan in State.
  • Infosys partners with Majesco to accelerate digital experience for insurers.
  • HCL Tech to expand investment in UK, hire 1,000 technology professionals.
  • Google unveils new AI model LaMDA, to aid natural conversations with machines.
  • HCL Tech enters into multi-year contract with Hitachi ABB Power Grids for business transformation.
  • Zensar Technologies signs agreement to acquire US based data engineering firm M3bi.
  • L&T Technology, Intel Corp develop AI-based outdoor parking solution.
  • US removes Xiaomi from government blacklist, parties to resolve litigation.
  • Amazon buys Hollywood studio MGM in $8.45 billion deal.
  • Boeing wins approval for 737 Max electrical fix, notifies airlines.
  • Ransomware attack shuts down network of top US fuel pipeline operator, Colonial Pipeline.
  • Supreme Court defers hearing for July 6 on plea alleging IT Rules violation by Twitter.
  • Twitter buys Scroll and its Ad-free news app with aim to bolster upcoming subscription service.
  • Tata Digital buys majority stake of 64.3% worth $1.31 billion in online grocer BigBasket.
  • Pharmeasy buys Medlife, creates India’s largest online pharmacy.
  • NPCI partners Turkish firm PayCore to develop softPoS solutions for RuPay.
  • KKR invests $95 million in Lenskart, TPG and TR Capital to partially exit.
  • Edtech startup upGrad acquires Impartus, commits ₹150 crore for growth.
  • India, China, South Africa fared ‘relatively better’ than other major economies in Q1 of 2021: UN data.
  • Unemployment in urban areas surges to 10-month high of 11.72% amid lockdowns: CMIE.
  • Govt names T Rabi Sankar as Deputy Governor of RBI; Jose Kattoor appointed as Executive Director.
  • ByteDance founder Zhang Yiming to step down as CEO by end of 2021, HR Chief Liang Rubo to take over.

 

Q4 Results

  • SBI net profit jumps 80% YoY to ₹6,451 crore, NII up by 19% to ₹27,067 crore; to pay ₹4/share as dividend.
  • Kotak Mahindra Bank net profit rises 33% YoY to ₹1,682 crore, GNPA improves to 3.27%, NNPA at 1.21%.
  • YES Bank Q4 Net loss widens to ₹3,788 crore, provisions rose 7.5% YoY to ₹5,240 crore.
  • HDFC Q4 profit rises 8.7% QoQ to ₹3,180 crore, NII fell 0.1%; to pay ₹23 as dividend.
  • M&M posts profit of ₹163 crore, revenue up 48% YoY to ₹13,338 crore; to pay dividend of ₹8.75 /share.
  • RIL Q4 profit more than doubles to ₹13,227 crore, firm posts record annual profit of ₹53,739 crore.
  • Jio registers 36.3% YoY increase in EBITDA to ₹8,573 crore; Average revenue per user drops to ₹138.2.
  • Bharti Airtel reports Q4 net profit of ₹759.2 crore, revenue rises 12% to ₹25,747 crore.
  • Sun Pharma Q4 net profit rises 123% YoY to ₹894 crore, revenue rose 4% YoY to ₹8,523 crore.
  • Dr Reddy’s Labs profit falls 28% to ₹554 crore, revenue up by 7% YoY to ₹4,728 crore, to pay ₹25 dividend.
  • Tata Motors loss narrows to ₹7,604 crore due to JLR write-offs, revenue up 42% YoY to ₹88,628 crore.
WORLD INDICES
Indices 30-Apr 31-Mar %1M 01-Jan % since Jan
BSE 51937 48782 6.47% 41306 25.74%
NSE 15583 14631 6.50% 12183 27.91%
DOW 34529 33875 1.93% 28538 20.99%
NASDAQ 13749 13963 -1.53% 8973 53.23%
FTSE 7023 6970 0.76% 7542 -6.89%
Nikkei 28860 28813 0.16% 23657 22.00%
Hang Seng 29152 28725 1.49% 28190 3.41%
Straits Times 3164 3218 -1.68% 3223 -1.82%
Shanghai 3615 3447 4.89% 3050 18.54%
USD 72.61 74.06 -1.96% 71.22 1.95%
Euro 88.82 89.04 -0.24% 79.94 11.11%
GBP 103.42 102.34 1.06% 94.36 9.60%
Yen/100INR 0.66 0.68 -2.11% 0.66 1.25%
Gold 48791 46785 4.29% 39067 24.89%
Silver 72574 67492 7.53% 46665 55.52%
Crude Brent $ 70.21 67.25 4.40% 66.29 5.91%
Crude Nymex $ 67.73 63.58 6.53% 61.30 10.49%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
31-May 35527 27115 10492 35243 14052
30-Apr 32782 25664 9641 33623 13469
% 1M 8.37% 5.65% 8.83% 4.82% 4.32%
01-Jan 32103 15722 8210 30234 8047
% since Jan 10.66% 72.46% 27.79% 16.57% 74.62%

INDIAN TRADE(USD MILLION)
Exports 30630
Imports 45720
FDI 1971
Government Bond 10Y 6.02%
GDP YoY 1.60%
Inflation Rate 4.29%
Forex Reserves $ M 592894
IIP % 10.60%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs. crore) MF (Rs. crore)
Equity 197 254
Debt (801) 5,539
Total 1 M (605) 5,793
Total Since Jan 31,820 40,154
Equity 44,856 (20,622)
Debt (13,036) 60,776

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