December 2, 2022 by BizWhiz Admin in Economy Snapshot 0 comments 133

General News

  • Winter session of Parliament to begin on December 7 for 23 days.
  • Himachal Pradesh witnessed a record voter turnout at 75.6% in the assembly elections.
  • Gujarat assembly elections to be held in two-phase – December 1 and 5, results on December 8.
  • Annual G20 Summit opens in Indonesia’s Bali province.
  • G-20 Presidency handed over to India; next year’s Summit to be held on 9th and 10th September.
  • India attends Moscow format of talks on Afghanistan to eradicate terrorism.
  • India reiterates opposition to China’s Belt and Road Initiative at SCO meet.
  • Vice President Jagdeep Dhankhar participates in 17th East Asia Summit in Cambodia.
  • Rozgar Mela: PM Modi virtually distributes appointment letters to over 71,000 new recruits.
  • PM inaugurates month-long ‘Kashi Tamil Sangamam’ in Varanasi, Uttar Pradesh.
  • Indian Army approves five Make II projects providing impetus to ‘Atma Nirbhaarta’.
  • DRDO conducts successful maiden flight-test of Phase-II Ballistic Missile Defence interceptor.
  • Priyanka Gandhi Vadra joins Rahul Gandhi for Bharat Jodo Yatra in Madhya Pradesh.
  • Vikram-S, India’s first private rocket successfully lifts off from Sriharikota.
  • ISRO conducts 200th consecutive successful launch of RH200 sounding rocket.
  • ISRO successfully launches Oceansat-3, eight other customer satellites on their way to different orbit.
  • India invites Egyptian President Abdel Fattah El-Sisi to be Republic Day chief guest.
  • Govt amends Aadhaar rules; supporting documents may be updated ‘at least once’ in 10 years.
  • Govt declares census, NPR database as critical information infrastructure.
  • SC upholds 10% reservation for Economically Weaker Sections with 3:2 verdict.
  • Rajiv Gandhi assassination case: Centre moves SC seeking review of premature release of 6 convicts.
  • Giridhar Aramane takes charge as new defence secretary.
  • DY Chandrachud swears in as 50th Chief Justice of India.
  • Education Ministry releases Performance Grading Index for 2020-21; Kerala tops among states.
  • Uttarakhand to implement MBBS in Hindi along with English from next academic session.
  • DMK, allies petition President for ‘sacking’ TN Governor, slam him for ‘communal’ remarks.
  • Kerala govt sends ordinance to axe governor as chancellor to Raj Bhavan.
  • Autorickshaw explosion leaves two injured in Mangaluru, state govt hands over case to NIA.
  • Assam-Meghalaya lifts restrictions on vehicular movement.
  • Gujarat Assembly Polls: Isudan Gadhvi becomes AAP’s CM face; Congress, NCP announce pre-poll alliance.
  • Former bureaucrat C V Ananda Bose appointed Governor of West Bengal.
  • Ex-bureaucrat Arun Goel assumes charge as new election commissioner.
  • UN unveils $3.1 billion plan to achieve early warning systems for all against extreme, dangerous weather.
  • COP27 summit agrees on climate fund for ‘loss and damage’ in landmark deal.
  • Russia agrees to extend key U.N. Ukraine grain export deal by 4 months.
  • Rishi Sunak announces air defence package for Ukraine on first Kyiv visit.
  • US mid-term elections: Republicans take control of House of Representatives, Democrats retain Senate.
  • Former President Donald Trump announces White House bid for 2024.
  • Biden, Xi meet at the sidelines of G20 summit amid heightened China-U.S. tensions.
  • PM Shehbaz Sharif names Lt Gen Asim Munir as new Pakistan Army chief.
  • China reports rise in COVID-19 cases; eases COVID rules after wide protests of lockdowns.
  • WHO renames monkeypox as mpox, citing racism concerns.
  • World population hits 8 billion mark; India ‘on course’ to pip China as most populous in 2023.
  • New metric prefixes voted in as Earth now weighs six ronnagrams(six followed by 27 zeroes).
  • North Korea fires missiles; disrupts APEC meeting in Thailand.
  • NASA’s next-generation Artemis rocket lifts off 50 years after Apollo.
  • Malaysia’s king names reformist leader Anwar Ibrahim as Prime Minister.
  • Benjamin Netanyahu and far-right allies secure victory in Israel election.
  • PT Usha elected as first woman president of Indian Olympic Association.
  • Narendra Modi Stadium gets Guinness record for highest T20 attendance.
  • ICC T20 World Cup 2022: England crowned champions, beat Pakistan by 5 wickets.
  • New Zealand’s Greg Barclay re-elected as ICC Chairman for 2nd two-year term.
  • Women’s cricket to resume in Afghanistan post Taliban takeover as ICC strikes agreement with Govt.
  • Shikhar Dhawan to replace Mayank Agarwal as Punjab Kings captain from IPL 2023.
  • Kieron Pollard announces IPL retirement, appointed as batting coach for Mumbai Indians.
  • AUS vs ENG: Australia clinched 3-0 series win against England in the three match ODI series.
  • IND vs NZ: India’s five-series winning streak comes to end, lose first ODI series for 1st time in 10 months.
  • FIFA World Cup: France, Brazil, Portugal, Netherlands, Senegal, USA, England qualify for Round of 16.
  • Cristiano Ronaldo becomes first male player to score in 5 World Cups.
  • Cristiano Ronaldo leaves Manchester United by mutual agreement with immediate effect.
  • Spain’s Carlos Alcaraz becomes youngest year-end ATP world number 1.

 

Business News

  • Nirmala Sitharaman concludes pre-Budget meetings with stakeholders.
  • Finance Ministry releases Revenue Deficit Grant of ₹7,183.42 crore to 14 states.
  • Centre releases ₹17,000 crore GST compensation to states/UTs for April – June.
  • Centre sanctions ₹60,000 crore long-term capex funds to states.
  • Centre releases 2 instalments of tax devolution totaling ₹1.16 lakh crore to states.
  • GST revenues cross ₹1.51 lakh crore in October, 16.6% higher than a year ago.
  • India’s April-Sept fiscal deficit touches ₹6.20 lakh crore or 37.3% of annual estimates.
  • PM inaugurates first greenfield airport ‘Donyi Polo Airport, Itanagar’ in Arunachal Pradesh.
  • Power Ministry revises guidelines to simplify use of charging infrastructure for Electric Vehicles.
  • Indian Railways completes over 82% electrification of its complete Broad Gauge network.
  • India resumes sugar exports, allows 6 million tonnes till May 2023.
  • Textiles ministry clears 20 strategic projects worth ₹74 crore.
  • Govt revises guidelines for uplinking and downlinking of Television Channels in India.
  • Govt hikes ethanol price to ₹65.60 per litre used for blending in petrol.
  • Windfall profit tax on domestically produced crude oil hiked, levy on export of diesel cut.
  • ONGC pays ₹5,001 crore dividend to govt; CPSEs pay ₹23,797 crore so far this fiscal.
  • Govt approves continuation of interest subvention scheme for short-term crop loans.
  • Centre releases draft data protection bill, proposes six types of penalties.
  • Centre unveils norms to curb fake reviews on e-commerce sites.
  • International passengers no longer required to submit Air Suvidha on arrival.
  • RBI allows HDFC Bank, Canara Bank to open vostro account for Rupee trade with Russia.
  • RBI launches pilot of digital rupee from Dec 1; 8 banks identified for participation.
  • Invest Karnataka 2022: State inks MoUs worth around ₹10 lakh crore.
  • India announces additional contribution of $5 million to ASEAN-India science and technology fund.
  • Indian pharma exports rise by 4.22% to $14.57 billion during April-Oct in current fiscal.
  • UPI processes over 7.3 billion transactions worth ₹12.11 lakh crore in Oct, record high since inception.
  • Nykaa gets shareholders’ nod for bonus issue, employee stock options.
  • Market Debuts: Bikaji Foods, Archean Chemical, Five Star Business Finance, Inox Green, Rustomjee.
  • IRDAI approves changes in capital, ownership, solvency of insurance companies.
  • UK court rejects Nirav Modi’s plea against extradition to India.
  • NCLT approves the merger of Shriram Transport Finance and Shriram City Union Finance.
  • CBI books pen maker Rotomac Global in ₹750 crore bank fraud case.
  • Chennai Petro, Indian Oil, partners sign JV agreement for ₹31,580 crore refinery complex in Tamil Nadu.
  • US Fed announces fourth straight 0.75-point rate hike taking the benchmark lending rate to 3.75%-4.0%.
  • UK unveils emergency budget; increases windfall tax on profits of oil from 25% to 35%.
  • China leaves lending benchmarks unchanged for 3rd straight month in Nov.
  • UK inflation accelerates to 41-year peak of 11.1%.
  • US regulators ban Huawei, ZTE Telecom equipment on data-security risk.
  • UK PM Sunak reiterates Britain’s commitment to deliver on new FTA with India.
  • Pakistan, China sign MoU for setting up yuan clearing arrangements.
  • QatarEnergy signs 27-year LNG deal with China’s Sinopec.
  • NDTV promoter entity transfers 99.5% of its equity capital to Adani-owned VCPL; Prannoy Roy resigns.
  • CoinSwitch launches cross-exchange crypto trading platform amid down market.
  • Tata Sons announces merger of Air India and Vistara; Singapore Airlines to own 25.1% in merged entity.
  • Air India gets first Boeing 777-200LR to fly on international route.
  • AirAsia sells remaining 16.33% stake in India operations to Air India.
  • Agnikul inaugurates its first launchpad & mission control center at Satish Dhawan Space Centre.
  • Ola Electric crosses ‘fastest-ever’ 1 lakh vehicle production in 10 months.
  • Wipro signs agreement on European Works Council.
  • Elon Musk dissolves Twitter’s board of directors, succeeds Parag Agrawal as CEO.
  • Twitter to launch gold, grey checks alongside blue verified mark.
  • Binance walks away from deal to acquire FTX due to ‘mishandled funds’.
  • Visa terminates global debit card agreements with FTX.
  • Pegatron assembles Apple iPhone 14 at Chennai facility; Foxconn to quadruple workforce at India plant.
  • Twitter begins rolling out $7.99 Twitter blue Verified badge plan with verification, fewer ads.
  • Amazon to shut down distribution unit in India, focus on core businesses.
  • Nokia, Samsung, Tejas Networks among 42 firms approved for PLI scheme.
  • Reliance Jio, Bharti Airtel roll out 5G services.
  • Honda Cars India reaches 20 lakh production milestone, invested over ₹10,000 crore till date.
  • BSE gets SEBI nod to appoint Sundararaman Ramamurthy as MD, CEO.
  • HDFC Bank elevates Kaizad Bharucha as Deputy MD, appoints Bhavesh Zaveri as ED.
  • Reliance Industries appoints veteran banker KV Kamath as independent director.
  • Thierry Bollore resigns as CEO of Jaguar Land Rover.

 

Q2 Results

  • SBI’s Q2 net rises 74% to ₹13,265 crore on improved interest margins, NII grew 13% YoY to ₹35,183 crore.
  • HDFC Q2 PAT rises by 18% YoY to ₹4,454 crore, NII came up by 12.9% at ₹4,639 crore.
  • Tata Motors Q2 net loss narrows to ₹944.6 crore, consolidated revenue jumps 29.7% YoY to ₹79,611 crore.
  • Ashok Leyland Q2 net profit increases to ₹199 crore, revenues rose 85% YoY to ₹8,266 crore.
  • TVS Motor Q2 net profit rises 47% YoY to ₹407 crore, operating revenue grew by 28% at ₹7,219 crore.
  • Hero MotoCorp net profit falls 9% YoY to ₹682 crore, revenue rises 7% to ₹9,158 crore.
  • L&T Q2 PAT jumps 26% YoY to ₹2,819 crore, consolidated revenue increased by 22.9% to ₹42,762.61 crore.
  • Airtel net profit up 89% to ₹2,145 crore in Q2, revenue increased 21.9% YoY to ₹34,527 crore.
  • Vodafone Idea Q2 loss widens to ₹7,595 crore on higher expenses.
  • LIC Q2 PAT rises 11-fold to ₹15,952 crore; net income up 26% at ₹132,104.13 crore.
  • IRCTC Q2 Net profit rises 42% YoY to ₹226 crore, revenue jumps 99% to ₹806 crore.
  • ONGC net down 30% at ₹12,826 crore, revenue up 54% ₹38,321 crore; interim dividend at ₹6.75/share.

 

WORLD INDICES
Indices 30-Nov 31-Oct % 1M 04-Jan % since Jan
BSE 63,100 60,747 3.87% 59,856 5.42%
NSE 18,758 18,012 4.14% 17,805 5.35%
DOW 34,590 32,733 5.67% 36,800 -6.01%
NASDAQ 11,468 10,988 4.37% 15,623 -26.59%
FTSE 7,573 7,095 6.74% 7,505 0.90%
Nikkei 27,969 27,587 1.38% 29,302 -4.55%
Hang Seng 18,597 14,687 26.62% 23,290 -20.15%
Straits Times 3,290 3,093 6.38% 3,181 3.44%
Shanghai 3,290 3,093 6.38% 3,181 3.44%
USD 81.42 82.78 -1.64% 74.55 9.22%
Euro 84.88 81.97 3.55% 84.15 0.86%
GBP 98.36 95.19 3.33% 100.91 -2.52%
Yen/100INR 0.59 0.56 6.58% 0.64 -7.44%
Gold 52,462 50,296 4.31% 47,950 9.41%
Silver 62,254 58,071 7.20% 62,247 0.01%
Crude Brent $ 86.86 94.83 -8.40% 79.77 8.89%
Crude Nymex $ 80.53 87.05 -7.49% 76.80 4.86%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
30-Nov 43,231 30,392 13,232 45,537 13,144
31-Oct 41,308 28,728 13,382 44,296 13,212
% 1M 4.66% 5.79% -1.12% 2.80% -0.52%
04-Jan 36,840 39,371 11,139 37,800 14,041
% since Jan 17.35% -22.81% 18.78% 20.47% -6.38%

INDIAN TRADE
Exports in ($ Bn) 29.78
Imports ($ Bn) 56.69
FDI 941
Government Bond 10Y 7.28%
GDP YoY 6.30%
Inflation Rate 6.77%
Forex Reserves ($ Bn) 547250
IIP % 3.10%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII(Rs. crore) MF(Rs. crore)
Equity 29,322 4,318
Debt 390 557
Total 1 M 29,713 4,875
Total Since Jan (1,28,466) 1,29,979
Equity (1,17,689) 1,57,335
Debt (10,777) (27,356)

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