June 2, 2023 by BizWhiz Admin in Economy Snapshot 0 comments 163

General News

  • PM Modi dedicates new Parliament building to the nation, ‘Sengol’ placed in Lok Sabha chamber.
  • PM releases special stamp, ₹75 coin to mark inauguration of new Parliament building.
  • PM Modi attends 2023 Quad Leaders’ Summit in Sydney.
  • Quad leaders express deep concern over Ukraine war; mourn its terrible humanitarian consequences.
  • G7 Nations urge China to press Russia to end war in Ukraine, respect Taiwan’s status, fair trade rules.
  • PM Modi embarks on a six-day visit to Japan, Papua New Guinea, and Australia.
  • Rajnath Singh hands over fast patrol vessel landing craft assault ship to Maldives.
  • EU Indo-Pacific Ministerial Forum: Jaishankar discusses Indo-Pacific, Ukraine war with his counterparts.
  • President Murmu confers 37 Gallantry Awards during Defence Investiture ceremony.
  • President Droupadi Murmu inaugurates the country’s largest High Court building in Ranchi .
  • PM Modi distributes about 71,000 appointment letters to newly inducted recruits under Rozgar Mela.
  • All states to celebrate statehood days of other states also in order to promote Ek Bharat Shreshtha Bharat.
  • Arjun Ram Meghwal appointed as Law & Justice Minister; Kiren Rijiju assigned Ministry of Earth Sciences.
  • Siddaramaiah sworn in as Chief Minister of Karnataka for second term; D K Shivakumar as Deputy CM.
  • Karnataka portfolios: Siddaramaiah keeps Finance, Shivakumar gets Irrigation, Bengaluru development.
  • Kerala Governor signs ordinance for stringent punishment for offences against those in health services.
  • Thangam Thennarasu replaces Palanivel Thiaga Rajan as Tamil Nadu Finance Minister.
  • Sachin Pilot holds Jan Sangharsh Yatra against graft and paper leaks in Rajasthan.
  • Ethnic clash erupts in Manipur; Centre takes charge by invoking Article 355.
  • People’s Democratic Front merges with Meghalaya’s ruling National People’s Party.
  • Nitish Kumar meets Kejriwal, Sharad Pawar; discuss strengthening opposition unity ahead of LS polls.
  • Sharad Pawar takes back decision to resign as NCP chief
  • Indian wraps up Operation Kaveri; rescues 3,862 Indians from Sudan.
  • India, Australia sign migration pact; to open new consulate in Brisbane.
  • Centre approves indigenisation of 928 defence items ‘to promote Aatmanirbharta’.
  • India, US discuss co-producing jet engines, long-range artillery, infantry vehicles.
  • ISRO successfully launches its next-generation navigational satellite – NVS-1 from Sriharikota.
  • DRDO & Indian Navy conducts successful maiden test trial of Air Droppable Container -150 in Goa.
  • Maiden ASEAN-India Maritime exercise starts in Singapore; ten countries participate.
  • Jal Jeevan Mission achieves milestone of providing tap water supply to 12 crore rural households.
  • National Medical Commission mandates registration of all medical practitioners with unique ID.
  • Governor’s actions illegal but can’t reinstate Thackeray as CM as he resigned before floor test: SC.
  • CAG Girish Murmu re-elected as external auditor of WHO for 4-year term.
  • Karnataka DGP Praveen Sood appointed as CBI Director.
  • Top wrestlers detained as protest against federation chief intensifies.
  • Patna High Court puts an interim stay on state govt’s decision to conduct caste-based census.
  • CBI files charge sheet against Congress leader Jagdish Tytler in 1984 anti-Sikh riots case.
  • Delhi govt has control over services except public order, police and land: SC on Delhi-Centre power row.
  • US court approves extradition of 26/11 Mumbai attack accused Tahawwur Rana to India.
  • Russia launches ‘largest drone attack’ on Ukrainian capital on Kyiv Day.
  • Russian PM Mikhail Mishustin arrives in China for business forum, talks with President Xi.
  • Russia, Belarus ink document on tactical nuclear weapon deployment in Belarus.
  • Germany unveils €2.7 billion weapons package for Ukraine.
  • Zelenskyy meets Pope Francis at Vatican; seeks backing for Ukraine’s peace plan.
  • Turkey’s Erdogan wins historic runoff election, extends his two-decade rule.
  • Florida Governor Ron DeSantis launches 2024 presidential bid.
  • Covid-19 no longer a global health emergency, next pandemic to be more lethal than ever: WHO Chief.
  • King Charles and Princess Camilla crowned in historic Coronation celebrations.
  • Arab governments vote for Syria’s return to the Arab League after 12-year absence.
  • Death toll climbs to 600 as armed conflict continues in Sudan.
  • Pakistan, China reiterate to continue cooperation on CPEC.
  • China, Afghanistan, Pakistan pledge to enhance cooperation on security, counter-terrorism
  • Bilawal Bhutto Zardari attends Shanghai Cooperation Organization meet in Goa.
  • Former Pakistan PM Imran Khan arrested; SC declares arrest ‘illegal’, orders his immediate release.
  • Cyclone Mocha: Super cyclone, equivalent to 4 hurricanes, hits Myanmar, Bangladesh.
  • IPL 2023: Chennai Super Kings beat defending champions Gujarat Titans to clinch 5th title.
  • Shubman Gill wins Orange Cap with 890 runs, Md Shami clinches Purple Cap with 28 wickets.
  • World Test Championship final: Ishan Kishan replaces KL Rahul in India squad against Australia.
  • Shubman Gill becomes first batter to score hundred in Test, ODIs, T20I, IPL in calendar year.
  • Pakistan appoint former New Zealand all-rounder Grant Bradburn as men’s team head coach..
  • Malaysia Masters 2023: Prannoy defeats Weng, wins maiden BWF World Tour Title
  • Neeraj Chopra creates history, becomes world number 1 in men’s javelin throw rankings.
  • Sherpa Kami Rita scales Mt Everest for 28th time, sets new world record.
  • Italian Open: Kazakhstan’s Elena Rybakina clinches women’s title; Daniil Medvedev wins men’s title.


Business News

  • RBI withdraws ₹2000 note from circulation, to remain legal tender; can be exchanged at banks on or before September 30, 2023.
  • Digital Rupee: RBI launches expand e-Rupee pilot to include more banks.
  • India achieves highest ever GST revenue collection of over ₹1,87,000 crore in April 2023.
  • Government lowers threshold for GST e-invoicing to ₹5 crore.
  • Manufacturing PMI hits 4-month high in April to 57.20; WPI declines for 11th straight month to -0.92%.
  • PM Modi and Japan’s Kishida discuss cooperation in green hydrogen, semiconductors.
  • Centre inks MoU with Japan agency to develop high-speed rail stations.
  • India, EU affirm commitment to work together on common priorities for WTO-related issues.
  • India and European Union agree to coordinate their policies in strategic semi-conductor sector.
  • Centre to roll out pan-India mobile tracking system to aid finding lost devices.
  • Govt bans import of 928 items to promote domestic defence industry.
  • Defence exports surge to ₹16,000 crore in FY2022-23, from ₹686 crore in FY2013-14.
  • Centre announces 60-day time limit for approval in a bid to fast-track M&As.
  • Finance Ministry permits 22 finance companies to undertake Aadhaar-based verification of clients.
  • Govt unveils UDAN 5.1 to enhance connectivity to remote areas through helicopters.
  • Govt cuts subsidy on electric 2-wheelers to ₹10,000 per kWh from existing ₹15,000 per kWh.
  • Cabinet clears fertiliser subsidy cut, PLI scheme for IT hardware.
  • Centre asks states to crack down on outdoor advertisements of betting, gambling platforms.
  • International debit, credit card spends of up to ₹7 lakh a year exempt from 20% TCS.
  • Centre makes tests mandatory for exporting cough syrups from June 1.
  • India Post signs MoU with Confederation of All India Traders and Tripta Technologies for logistics services.
  • Puri – Howrah, Delhi – Dehradun, Guwahati-New Jalpaiguri Vande Bharat Express trains launched.
  • Andhra CM Y.S.Jagan Mohan Reddy launches ₹5,156 crore Machilipatnam port works.
  • Tamil Nadu govt signs MoUs with Japan, Singapore based firms.
  • Mankind Pharma, Nexus Select Trust make their market debuts.
  • Adani-Hindenburg: Supreme Court gives SEBI extension till August 14 to complete probe.
  • NCLT dismisses IDBI Bank’s insolvency plea against Zee Entertainment.
  • NCLAT upholds Go First bankruptcy proceedings in a setback to lessors.
  • US Fed hikes interest rates by 25 basis points, signals a pause.
  • House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate.
  • China’s Central Bank keeps interest rates unchanged, adds more liquidity as recovery struggles.
  • UK inflation falls to lowest level in over a year; CPI drops to 8.7%.
  • Pakistani rupee plunges to record low of 299 against US dollar.
  • Australia govt to change petroleum tax, LNG projects to pay more.
  • JPMorgan to buy embattled First Republic Bank after rescue efforts fail.
  • G7 calls for adoption of international technical standards for AI.
  • South Korea’s Hyundai to invest $2.45 billion in India.
  • Tesla proposes new EV plant in India for domestic sales, exports.
  • Garuda Aerospace, HAL subsidiary tie up for drone manufacture.
  • China’s first domestically built passenger plane successfully makes its maiden commercial flight.
  • TCS led consortium secures ₹15,000 crore order from BSNL for nationwide 4G network deployment.
  • Cisco to manufacture from India in diversification move.
  • Foxconn to set up $500 million manufacturing plant in Telangana; will create 25,000 jobs.
  • Nvidia unveils more AI products after $184 billion rally.
  • Zoom gets pan-India telecom licence to offer telephone services to enterprise customers.
  • Paytm partners with NPCI to launch Paytm SBI Card on the RuPay network.
  • Aurionpro Payments gets in-principle nod from RBI to operate as payment aggregator.
  • PhonePe gets another $100 million from General Atlantic; total funding rises to $850 million.
  • Google Pay launches RuPay credit cards support on UPI in India.
  • NTPC, NPCIL sign joint venture agreement to develop nuclear power projects.
  • Uber partners with GeM portal to offer taxi services to govt offices, agencies, PSUs at fixed price.
  • Edtech major Byju’s raises ₹2,000 crore in fresh funding from US investment firm.
  • Microsoft announces Windows Copilot, an AI personal assistant for Windows 11.
  • Berkshire shareholders vote to keep Warren Buffett as chairman.
  • Hinduja Group chairman S P Hinduja dies in London at 87.
  • Ajay Banga Selected 14th President of the World Bank.
  • L&T names S N Subrahmanyan as CMD; A M Naik to be Chairman Emeritus.
  • Elon Musk announces Linda Yaccarino as new Twitter CEO.
  • Paytm Payments Bank gets RBI nod to re-appoint Vijay Shekhar as part-time chair for a year.


Q4 Results

  • SBI Net profit zooms 83% YoY to ₹16,695 crore, NII rises 29% to ₹40,393 crore, dividend at ₹11.30 /share.
  • Punjab National Bank’s Q4FY23 profit surges six times to ₹1,741.11 crore; NII rises 30% to ₹9,499 crore.
  • Karnataka Bank Q4 Net profit up 171.5% YoY at ₹353.53 crore, NII up 27.15% at ₹860.05 crore.
  • HDFC net profit rises 19% YoY to ₹4,425 crore in Q4; NII climbs 16% to ₹5,321 crore.
  • LIC Q4 Net profit rises five-fold to ₹13,191 crore, total income declines to ₹2,01,022 crore.
  • Ashok Leyland Q4 PAT falls 17% YoY to ₹751 crore, revenue rises 33% to ₹11,626 crore.
  • Tata Motors clocks profit of ₹5,408 crore in Q4; revenue jumps 35% YoY to ₹105,932 crore.
  • Hero MotoCorp Q4 net up 31% at ₹811 crore; total income at ₹8,672 crore.
  • TVS Motor Q4 Profit up 21% at ₹336 crore, revenue at ₹8,031 crore.
  • Bharti Airtel Q4 net profit soars 50% YoY to ₹3,006 crore, revenue surges by 14% to ₹36,009 crore.
  • Paytm logs ₹7,990 crore revenue in FY23, becomes India’s highest earning new-age firm.
  • ITC Q4 Profit surges 23% YoY to ₹5,175 crore; revenue rises 7% to ₹19,058 crore.
  • Biocon Q4 Profit grows 31% YoY to ₹313 crore, revenue surges 57% to ₹3,774 crore.

Indices 31-May 28-Apr % 1M 02-Jan % since Jan
BSE 62,622 61,112 2.47% 61,168 2.38%
NSE 18,534 18,065 2.60% 18,197 1.85%
DOW 32,908 34,098 -3.49% 33,147 -0.72%
NASDAQ 12,935 12,227 5.80% 10,466 23.59%
FTSE 7,446 7,871 -5.39% 7,452 -0.08%
Nikkei 30,888 28,856 7.04% 26,095 18.37%
Hang Seng 18,234 19,895 -8.35% 19,781 -7.82%
Straits Times 3,159 3,271 -3.42% 3,251 -2.85%
Shanghai 3,205 3,323 -3.57% 3,089 3.73%
USD 82.72 81.77 1.17% 82.72 0.01%
Euro 88.34 89.95 -1.79% 88.30 0.05%
GBP 102.32 102.03 0.28% 99.91 2.41%
Yen/100INR 0.59 0.60 -1.74% 0.64 -7.24%
Gold 59,781 59,945 -0.27% 55,586 7.55%
Silver 71,474 74,155 -3.62% 70,579 1.27%
Crude Brent $ 73.08 80.26 -8.95% 85.50 -14.53%
Crude Nymex $ 68.47 76.63 -10.65% 79.92 -14.33%
31-May 44,128 29,320 14,199 51,043 12,678
28-Apr 43,234 27,708 13,189 47,814 12,614
% 1M 2.07% 5.82% 7.66% 6.75% 0.51%
02-Jan 43,203 28,737 12,668 44,193 12,551
% since Jan 2.14% 2.03% 12.09% 15.50% 1.01%

Exports in ($ Bn) 34.66
Imports ($ Bn) 49.9
FDI 366
Government Bond 10Y 6.99%
GDP YoY 6.10%
Inflation Rate 4.70%
Forex Reserves ($ Mn) 5,93,480
IIP % 1.10%

Equity 37,369 2,333
Debt 3,560 (4,478)
Total 1 M 40,929 (2,145)
Total Since Jan 39,945 38,442
Equity 32,601 52,633
Debt 7,344 (14,190)

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