June 1, 2022 by BizWhiz Admin in Economy Snapshot 0 comments 173

General News

  • PM Modi attends Quad summit in Tokyo, holds bilateral talks with US President Biden, Australian counterpart Anthony Albanese and Japanese PM Kishida.
  • Quad leaders vow to stand together for free and open Indo-Pacific region.
  • PM Modi meets France’s Macron, Germany’s Scholz and Danish PM Frederiksen during his Europe visit.
  • India, Germany sign joint declaration of Intent on Forest Landscape Restoration.
  • India-France agrees on deeper French involvement in ‘Atmanirbhar Bharat’ efforts in defence sector.
  • PM Modi participates in India-Nordic Summit; invites Nordic companies to invest in Sagarmala project.
  • WHO must be reformed, India ready to play key role: PM Modi at 2nd Global COVID Summit.
  • PM Modi, Nepal PM Deuba lay foundation stone for Buddhist Culture and Heritage in Nepal’s Lumbini.
  • President Kovind embarks on 7-day state visit to Jamaica, Saint Vincent and Grenadines.
  • S Jaishankar participates in BRICS Foreign Ministers’ meeting.
  • India and UAE sign MoU to enhance bilateral cooperation on Climate Action.
  • President Kovind presents military honours; confers 13 Shaurya Chakras, 14 Param Vishisht Seva Medals.
  • PM Modi inaugurates and lays foundation stone of 11 projects worth more than ₹31,500 crore in Chennai.
  • Defence Ministry approves revised ‘scales of accommodation’ for armed forces.
  • Rajnath Singh inducts 2 indigenously built frontline warships INS ‘Surat’ and ‘Udaygiri’ in Mumbai.
  • Navy successfully test-fires 1st indigenously developed lightweight naval anti-ship missile from helicopter.
  • Central govt notifies J&K Delimitation Commission order comes into force.
  • Manik Saha takes oath as 11th chief minister of Tripura, replaces Biplab Deb.
  • WHO honours India’s 1 million all-women ASHA workers for outstanding work in advancing global Health.
  • India’s total COVID – 19 cases at 4.32 crore, death toll at 5.25 lakh.
  • Cumulative variety of COVID-19 vaccine doses administered in India crosses 193 crore mark.
  • Centre gives nod to Sputnik Light COVID-19 vaccine for booster shot.
  • PM CARES Fund: ₹10 lakh aid, passbook, health card given to COVID-orphaned children.
  • Rajiv Kumar assumes charge as India’s 25th chief election commissioner.
  • Punjab CM Bhagwant Mann announces MSP on maize, pulses, bajra to encourage crop diversification.
  • Tamil Nadu Governor refers anti-NEET Bill to Centre for President’s nod.
  • Congress forms political panel, task force for 2024 polls, includes G-23 members.
  • Ex-Chief of Khadi Commission Vinai Kumar Saxena appointed Delhi’s new LG.
  • Congress veterans Kapil Sibal and Sunil Jakhar quit party; Hardik Patel exits party.
  • Intense heatwave sweeps through north India; govt issues guidelines for schools to fight heatwave.
  • Southwest monsoon arrives in Kerala, 3 days ahead of schedule.
  • Assam floods: Death toll reaches 36, over 7 lakh affected across 27 districts.
  • Cyclone Asani makes landfall in coastal Andhra Pradesh, weakens into deep depression.
  • SC orders release of life term convict A G Perarivalan in Rajiv Gandhi assassination case.
  • Kashmiri separatist leader Yasin Malik gets life imprisonment in J&K terror funding case.
  • SC puts Sedition law on hold, stays all pending cases under Sec 124A till Centre re-examines provisions.
  • SC extends time for submitting probe report on use of Israeli Pegasus spyware.
  • Russia’s invasion enters 4th month; Ukraine troops surrender at Mariupol.
  • Defense Secretary Lloyd Austin, Russian counterpart Sergei Shoigu hold first call since invasion of Ukraine.
  • India and 11 other countries abstain from UNHRC resolution calling for more scrutiny on Ukraine conflict.
  • Vladimir Putin warns France, Germany against supplying arms to Ukraine.
  • Zelenskyy holds separate discussions with UK PM Boris Johnson and US Senate delegation.
  • Finland and Sweden submit applications to join NATO.
  • UK unilaterally alters terms of post-Brexit trade deal for Northern Ireland.
  • US-ASEAN Summit: President Biden makes $150 million commitment to ASEAN leaders.
  • Sri Lankan PM Mahinda Rajapaksa resigns; Ranil Wickremesinghe sworn in as PM for 5th time.
  • Lankan Parliament defeats no-confidence motion tabled by Opposition against President Rajapaksa.
  • Sri Lanka closes schools, limits work amid fuel shortage; PM Wickremesinghe allotted Finance Ministry.
  • Anthony Albanese sworn in as Australia’s new Prime Minister.
  • John Lee elected as Hong Kong’s next leader as Carrie Lam steps down.
  • Shanghai slowly emerges from lockdown as cases continue to rise in Beijing.
  • North Korea fires suspected ballistic missile in 16th test launch this year.
  • Global COVID caseload rises to 52.9 crore, fatalities at 62.9 lakh.
  • More than 300 confirmed Monkeypox cases reported in over 20 countries; WHO warns of moderate risk.
  • North Korea’s Kim orders lockdown amid COVID outbreak; orders military to stabilise supply of drugs.
  • UAE President Sheikh Khalifa bin Zayed dies, Sheikh Mohammed bin Zayed elected as new President.
  • Thomas Cup: Indian men’s badminton team bags first-ever gold.
  • Women’s World Boxing Championships: Nikhat Zareen scripts history, clinches gold.
  • India wins 7 medals including 3 golds in shooting at Junior World Cup.
  • Harshada Sharad Garud first Indian to win gold medal at IWF Junior Weightlifting World Championships.
  • Chessable Masters final: Indian Chess prodigy R Praggnanandhaa finishes 2nd.
  • IPL 2022: Gujarat Titans win IPL title in maiden season, beat Rajasthan Royals by 7 wickets.
  • Rajasthan Royals spinner Yuzvendra Chahal wins Purple Cap and Jos Buttler wins Orange Cap.
  • MS Dhoni back as Chennai Super Kings captain; Jadeja ruled out of rest of IPL 2022 due to bruised rib.
  • Annual ICC Rankings: Australia No. 1 in Tests, India leads T20 table, NZ retains top spot in ODI.
  • Asian Games 2022 scheduled for September postponed amid Covid surge in China.
  • UEFA removes more Russian soccer teams from its competitions.
  • French Open: Rafael Nadal beats Novak Djokovic to reach French Open 2022 semi-final.
  • Carlos Alcaraz beats Alexander Zverev to take Madrid Open title.

 

Business News

  • RBI hike rates Repo rate by 40 bps, CRR by 50 bps for the first time since August in an unscheduled meet.
  • Centre releases ₹7,183.42 crore to 14 states as revenue deficit grant.
  • Centre bans export of wheat with immediate effect to calm local prices with some relaxations.
  • PM Kisan 11th instalment amount of ₹21,000 crore released for 10 crore farmer families.
  • Govt allows duty-free import of 20 lakh tonnes of crude soyabean and sunflower oil per annum.
  • India’s April crude oil imports at 3-1/2 year high at 20.87 million tonnes.
  • US surpasses China as India’s biggest trading partner in FY22 at $119.42 billion.
  • UAE-India Comprehensive Economic Partnership Agreement comes into force, 1,157 products excluded.
  • Government orders all imported-coal plants to operate at full capacity as power demand surges.
  • Manufacturing PMI improves marginally in April to 54.7; Services PMI jumps to 57.9 in April.
  • UPI hits record 5.58 billion transaction worth ₹9.83 trillion in April 2022.
  • Jet fuel prices rise by 3.22% to record the steepest hike of all time; LPG prices rises cross ₹1,000 mark.
  • Petrol gets cheaper by ₹9.5 and diesel by ₹7 as Centre cuts excise duty.
  • Centre to give subsidy of ₹200 per gas cylinder to PM Ujjwala Yojana beneficiaries.
  • Govt waives import duty on some raw materials for steel industry, export duty on iron ore raised to 50%.
  • PM Modi virtually inaugurates India’s first 5G testbed costing ₹220 crore.
  • Listed IPOs: LIC, Campus Activewear, Rainbow Children’s Medicare, Delhivery, Paradeep Phosphates.
  • RBI board approves transfer of ₹30,307 crore as dividend to government for FY22.
  • Future Group sells 25% stake in Future Generali India Insurance for ₹1,266 crore.
  • US launches Indo-Pacific Economic Framework for Prosperity; 13 counties including India join.
  • World Economic Forum: Maharashtra inks pact with 23 firms; Telangana bags ₹ 4,200 crore investments.
  • Samsung inks $1 billion with US network operator Dish to supply 5G solutions.
  • Wipro, HFCL join hands to develop 5G products portfolio for telecommunications sector.
  • Toyota Motor Corp rolls out its first mass-produced battery electric car in Japan.
  • World Bank to disburse $700 million to crisis-hit Sri Lanka, to re-purpose existing loans.
  • Sri Lanka hikes fuel prices; petrol at all-time high of LKR 420, diesel LKR 400 per litre.
  • Indonesia lifts ban on palm oil exports.
  • Pakistan increases fuel prices by 30 PKR per litre in a bid to revive IMF program.
  • Cash-strapped Pakistan gets $8 billion in financial support from Saudi Arabia.
  • US Fed raises rates by 50 bps to fight inflation, outlines balance sheet reduction.
  • Canada bans Huawei from 5G, ending years-long impasse.
  • Honda, Yamaha, Suzuki, Kawasaki join hands to launch Gachako Battery Swapping Service.
  • Hyundai partners with Tata Power to install DC fast charging stations for EVs across India.
  • Ola Electric opens new purchase window for S1, S1 Pro.
  • Adani group acquires Holcim’s Indian subsidiaries – ACC and Ambuja Cements for $10.5 billion.
  • Swiggy acquires restaurant tech platform Dineout for $200 million.
  • EU leaders agree to ban 90% of Russian oil by the end of 2022.
  • Facebook parent Meta partners with AMD for mobile infrastructure program.
  • Abbott, FDA reach agreement to reopen baby formula facility in Michigan.
  • UK inflation hits 40-year high of 9% as households suffer; slaps 25% windfall tax on oil and gas firms.
  • Elon Musk puts on hold $44 billion deal for Twitter.
  • Karnataka HC extends stay on the ED order seizing Xiaomi India’s bank assets until June 1.
  • Supreme Court dismisses plea to review verdict on removal of Cyrus Mistry as Tata Sons head.
  • Economist Suman Bery takes charge as NITI Aayog Vice-Chairman.
  • Campbell Wilson, former CEO of Singapore Airlines’ budget carrier Scoot, appointed Air India MD & CEO.
  • Sudarshan Venu takes over as Managing Director of TVS Motor Company.
  • Ola Electric’s tech chief Dinesh Radhakrishnan, CMO Varun Dubey resign.
  • US Senate confirms Jerome Powell for second term as head of the Federal Reserve.
  • BSE appoints Ex RBI Deputy Governor SS Mundra as Chairman.
  • Maruti shareholders approve appointment of Hisashi Takeuchi as MD and CEO with 99.89% of votes.
  • Infosys reappoints Salil Parekh as CEO and MD for the next 5 years.
  • Jack Dorsey steps down from Twitter’s board of directors.
  • Vijay Shekhar Sharma reappointed as Paytm MD & CEO till 2027.

 

Q4 Results

  • Kotak Mahindra Q4 profit jumps 65% YoY to ₹2,767 crore, NII up 18% YoY to ₹4,521 crore.
  • SBI Q4 net profit rises 41% to ₹9,113 crore, declares ₹7.10/share dividend; NII up 15% at ₹31,198 crore
  • HDFC Q4 profit up 16% YoY to ₹3,700 crore, revenue increased 5% to ₹12,300 crore, declares ₹30 dividend.
  • Tata Motors’ Q4 net loss narrows to ₹1,032 crore, revenue declined 11.5% YoY to ₹78,439 crore.
  • Ashok Leyland Q4 net profit soars 274% YoY to ₹901.4 crore, revenue climbed 24.90% to ₹8,744.29 crore.
  • M&M Q4 profit up 17% YoY at ₹1,167 crore, revenue up 28% at ₹17,124 crore; dividend at ₹11.55/share.
  • Hero MotoCorp Q4 profit falls 27.5% to ₹627.05 crore; revenue drops 14.6% to ₹7,421.23 crore.
  • TVS Motor Q4 net profit falls 5.1% YoY to ₹274.5 crore, revenue grew by 4% at ₹5,530 crore.
  • Tech Mahindra Q4 profit surges 39% YoY to ₹1,506 crore, revenue rises 24.5% to ₹12,116 crore.
  • RIL Q4 Profit rises 22.5% YoY to ₹16,203 crore, revenue rose 36.79% YoY to ₹211,887 crore.
  • Bharti Airtel Q4 Profit surges 164% YoY to ₹2,008 crore; ARPU rises to ₹178.
  • Vodafone Idea Q4 net loss narrows to ₹6,563 crore, revenue rises 6% to ₹10,271.8 crore, ARPU up at ₹124.
  • ITC Q4 profit rises 11.8% YoY to ₹4,191 crore; revenue grew 15.25% to ₹17,754.02 crore.

 

WORLD INDICES
Indices 29-Apr 31-Mar % 1M 04-Jan % since Jan
BSE 55566 57061 -2.62% 59856 -7.17%
NSE 16585 17103 -3.03% 17805 -6.86%
DOW 32990 32977 0.04% 36800 -10.35%
NASDAQ 12081 12335 -2.05% 15623 -22.67%
FTSE 7608 7545 0.84% 7505 1.37%
Nikkei 27280 26848 1.61% 29302 -6.90%
Hang Seng 21415 21089 1.54% 23290 -8.05%
Straits Times 3232 3357 -3.71% 3181 1.61%
Shanghai 3186 3047 4.57% 3632 -12.28%
USD 77.64 76.43 1.59% 74.55 4.14%
Euro 83.18 80.58 3.22% 84.15 -1.15%
GBP 97.81 96.11 1.77% 100.91 -3.07%
Yen/100INR 0.60 0.59 2.16% 0.64 -6.40%
Gold 50850 51760 -1.76% 47950 6.05%
Silver 61124 63505 -3.75% 62247 -1.80%
Crude Brent $ 116.21 109.34 6.28% 79.77 45.68%
Crude Nymex $ 115.22 104.69 10.06% 76.80 50.03%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
31-May 35487 29679 11587 38713 12604
29-Apr 36088 31622 11078 38204 13463
% 1M -1.66% -6.15% 4.59% 1.33% -6.38%
04-Jan 36840 39371 11139 37800 14041
% since Jan -3.67% -24.62% 4.01% 2.42% -10.23%

INDIAN TRADE(USD MILLION)
Exports in ($ Bn) 40.19
Imports ($ Bn) 60.3
FDI 2742
Government Bond 10Y 7.42%
GDP YoY 4.10%
Inflation Rate 7.79%
Forex Reserves ($ Bn) 597510
IIP % 12.50%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII(Rs. crore) MF(Rs. crore)
Equity (36,669) 22,675
Debt (5,783) (13,809)
Total 1 M (42,452) 8,866
Total Since Jan (1,61,096) 81,320
Equity (1,51,275) 92,580
Debt (9,821) (11,260)

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