November 2, 2022 by BizWhiz Admin in Economy Snapshot 0 comments 73

General News

  • Elections 2022: Himachal Pradesh elections to be held in a single-phase on Nov 12, counting on Dec 8.
  • EC announces by- elections for seven assembly seats in six states on November 3.
  • PM Modi, UN Chief Guterres launch Mission LiFE for climate-friendly behaviour.
  • President Murmu flags off two train services in Northeast; launches various development projects.
  • PM Modi launches Rozgar Mela, hands over 75,000 appointment letters.
  • Rajnath Singh unveils several digital initiatives of Defence Accounts Department.
  • India hosts SCO joint anti-terror drill to enhance operational capabilities.
  • India’s Indigenous nuclear-powered submarine INS Arihant carries successful launch of ballistic missile.
  • Prachand, indigenously-developed Light Combat Helicopter inducted into Indian Air Force.
  • India, China agree to continue talks through diplomatic, military channels to resolve border issues.
  • India-Nepal agree to prevent misuse of their territories, illegal border crossing by third nation citizens.
  • India to contribute $500,000 for UN Trust Fund for Counter-Terrorism.
  • India joins global anti-crime network, can access worldwide database of criminals.
  • Health Ministry to stop procuring fresh COVID vaccines, surrenders ₹4,237 crore from vaccination budget.
  • India’s first case of Omicron BQ.1 reported in Pune; state govt warns of COVID surge amid festive season.
  • Union Health Minister Mansukh Mandaviya reviews COVID situation; mask mandate should continue.
  • ISRO launches 36 OneWeb satellites in first commercial launch for LMV-3.
  • India Mars orbiter dies after 6-month mission lasts eight years.
  • Mallikarjun Kharge wins Congress Presidential polls, becomes first non-Gandhi head of party in 24 years.
  • EC assigns flaming torch symbol to Thackeray’s Shiv Sena, allots ‘two swords, shield’ symbol to Shinde’s.
  • Telangana CM KCR turns TRS into national party – Bharat Rashtra Samithi.
  • Mulayam Singh Yadav, Samajwadi Party supremo, dies at 82.
  • CJI Lalit recommends Justice Chandrachud’s name as his successor.
  • Karnataka hijab ban: SC delivers split verdict, refers matter to CJI for `appropriate direction`.
  • Jayalalithaa’s death: Enquiry commission finds Sasikala and 3 others at fault; advises probe.
  • National Mission for Clean Ganga approves 14 projects worth ₹1,145 crore
  • Amit Shah launches India’s first Hindi version of MBBS course books, in Bhopal.
  • Bharat Jodo Yatra: Rahul Gandhi covers over 2,200 km in 4 states out of targeted 3,500 km journey.
  • 68th National Film Awards: Veteran actress Asha Parekh receives Dada Saheb Phalke award.
  • Modhera in Gujatarat declared as India’s first 24X7 solar-powered village.
  • Swachh Survekshan 2022: Indore bags cleanest city award for sixth year, MP ranks first among States.
  • Aramane Giridhar to be new Defence Secretary; Sanjay Malhotra named Revenue Secretary.
  • India’s total COVID cases at 4.46 crore; worldwide cases at 62.99 crore.
  • US Defence Secretary Lloyd Austin vows to help Taiwan defend itself from China.
  • China blocks India-US move at UN to blacklist Pakistan based LeT terrorist Shahid Mahmood.
  • EU adopts 8th package of sanctions for restrictive measures against Russia.
  • India abstains, Russia vetoes UNSC resolution on Moscow’s illegal referenda’ on Ukraine.
  • Ukraine accelerates NATO bid as Russia annexes seized areas; G7, EU rejects Russia’s ‘illegal annexation’
  • Russia conducts first nuclear weapons drill since its invasion of Ukraine.
  • Japan, Australia ink `landmark` security pact to counter China’s military build-up in Indo-Pacific.
  • China imposes lockdowns as COVID surges; launches inhalable COVID vaccine in an apparent world first.
  • UK PM Liz Truss resigns after 6 weeks in office; King Charles appoints Rishi Sunak as UK’s 57th PM.
  • Malaysian PM Ismail Yaakob dissolves Parliament, calls for early elections.
  • Chinese President Xi Jinping creates history, wins record third term in power.
  • Iraqi parliament elects Abdul Latif Rashid as new President.
  • Human rights champions in Belarus, Russia, Ukraine win Nobel Peace Prize.
  • 36th National Games: Services Sports Control Board topped the medals tally with 61 gold medals
  • Roger Binny replaces Sourav Ganguly as BCCI President.
  • BCCI announces equal match fee for its men and women cricketers.
  • T20 World Cup: Super 12s got underway, final will be played at the Melbourne Cricket Ground on Nov 13.
  • IND vs SA: India wins ODI series against South Africa 2-1.
  • PAK vs ENG T20: England clinch the series 4-3.
  • Women’s Asia Cup 2022: India wins the title for 7th time.
  • French Open badminton 2022: Satwiksairaj Rankireddy and Chirag Shetty clinch men’s doubles crown.
  • 16-year-old Donnarumma Gukesh becomes the youngest to beat world champion Magnus Carlsen.
  • Cristiano Ronaldo reaches record 700 club career goals

 

Business News

  • PM Modi launches single brand ‘Bharat’ for subsidised fertilisers; 600 Kisan Samruddhi Kendras.
  • PM Modi releases 12th installment worth ₹16,000 crore under PM-KISAN.
  • India gets 4th set of Swiss bank account details under automatic info exchange framework.
  • PM Modi lays foundation stone of ₹1,900 crore bulk drug park project in Himachal’s Una.
  • Nirmala Sitharaman meets US Treasury Secretary Janet Yellen; attends IMF, World Bank annual meetings.
  • Invest Rajasthan Summit: Gautam Adani announces Rs 65,000 crore investment in the state.
  • Cabinet extends ₹22,000 crore as one time grant to oil PSUs to cover losses in domestic LPG.
  • National Highway Authority of India to hold the officials responsible for any fatal accident.
  • Govt accords infrastructure status to data centres with over 5 MW capacity.
  • Record 451 MoUs worth over Rs 1.5 lakh crore inked at Defence Expo in Gandhinagar.
  • PM Modi launches ₹22,000 crore project to build C-295 transport aircraft in Gujarat.
  • Centre extends blanket ban sugar exports for one more year starting Oct 31.
  • Government begins process to merge Amul with five cooperative societies.
  • India allows exports of wheat flour processed from imported grain.
  • India emerges as the world’s largest producer and second largest exporter of sugar.
  • Reserve Bank of India unveils features of digital rupee, plans to launch pilot soon.
  • Govt unveils new policy reforms for satellite communication services, easing processes.
  • Govt issues draft guidelines for Regional Rural Banks listing; minimum net worth ₹300 crore.
  • Govt invites bids for IDBI Bank privatisation; Centre, LIC to sell 60.72%.
  • PM Modi launches 75 Digital Banking Units (DBU) in 75 districts across India.
  • BSE launches Electronic Gold Receipts during Diwali Muhurat trading.
  • NHAI’s InvIT NCDs makes debut on BSE, 25% of NCDs reserved for retail investors.
  • Electronics Mart, Piramal Pharma, Tracxn Tech make their market debuts.
  • IMF cuts India’s FY23 GDP forecast to 6.8% from 7.4%, flags global inflation crisis.
  • India, UAE discuss mechanism for carrying out bilateral trade in national currencies.
  • Japan unveils $200 billion in new spending to ease inflation pain.
  • Germany’s inflation soars to 11.6%, highest in half decade.
  • Pakistan taken off from FATF’s grey list after four years.
  • CM Kejriwal inaugurates 11 EV charging stations, Delhi to get 89 more in two months.
  • Ford executes settlement agreement with workers in Tamil Nadu plant.
  • Jio-bp to set up charging network for Mahindra’s upcoming e-SUV launches.
  • SpiceJet gets DGCA nod for wet leasing 5 planes; 2 aircraft operating.
  • Boeing offers 737 Max Jets to Air India amid US-China trade tensions.
  • Hyundai’s air taxi unit picks Honeywell as avionics supplier.
  • PM Modi inaugurates 6th India Mobile Congress, experiences 5G tech by different operators.
  • Govt approves ₹26,000 crore to install new 25,000 telecom towers.
  • BSNL to roll out 5G in August 2023; Jio will launch 5G services across India by December 2023.
  • Bharti Airtel launches 5G in eight cities, to cover entire country by March 2024.
  • Reliance Jio Chairman Akash Ambani launches 5G services in Rajasthan.
  • Reliance Jio Infocomm ties up with Ericsson, Nokia for 5G network.
  • Vodafone and Altice launch €7 billion German broadband company.
  • EMA authority approves freezing ₹5,551 crore of Chinese firm Xiaomi.
  • Apple’s iPhone production to move in India, MacBook assembly to Thailand.
  • Foxconn unveils its first electric vehicle concepts under the Foxtron brand.
  • Electronics brand boAt raises Rs 500 crore from Warburg affiliate, Malabar Investments; calls off IPO.
  • Adani Green Energy incorporates 3 new subsidiary companies for renewable energy business.
  • Iran signs contract to export 40 homegrown gas turbines to Russia.
  • Ola, Uber and Rapido reduce base fares in Karnataka after state govt intervenes.
  • Byju’s raises $250 million from existing investors, valuation remains at $22 billion.
  • Centre forms expert team to probe WHO claims on Maiden Pharma linked to 66 deaths in Gambia.
  • Novavax’s COVID vaccine gets US FDA approval as booster dose for adults.
  • Dabur India acquires 51% stake in Badshah Masala in ₹587.52-crore deal.
  • Taiwan signals its chip firms will follow new U.S. rules on China.
  • Meta unveils $1,500 VR headset, to partner with Microsoft on Office, Xbox Gaming for Quest devices.
  • Meta agrees to sell GIF-sharing platform Giphy after Competition and Markets Authority (CMA) decision.
  • Elon Musk takes over Twitter, fires CEO Parag Agrawal, policy chief Vijaya Gadde.
  • CCI imposes fine of over ₹1,337 crore on Google for abusing its dominant position in multiple markets.
  • CCI imposes ₹936 crore penalty on Google for anti-competitive Play Store policies.
  • CCI slaps penalties totaling ₹392 crore on MakeMyTrip, Goibibo, OYO for unfair business practices.
  • Zee-Sony to sell off Big Magic, Zee Action and Zee Classic to address CCI’s merger concerns.
  • Amazon signs deal to use Hawaiian Airlines to operate 10 cargo planes.
  • Dove, Nexxus, TRESemmé, and other dry shampoos recalled for cancer-causing chemical.
  • Bharati Das takes charge as new Controller General of Accounts.
  • RBI approves reappointment of Prashant Kumar as MD and CEO of Yes Bank for 3 yrs.
  • ICICI Bank board reappoints Sandeep Bakhshi as MD and CEO for three years.
  • Infosys president Ravi Kumar S quits after 20-year stint, joins as president of Cognizant Americas.
  • Samsung officially names third-generation heir Lee Jae-yong as chairman.

 

Q2 Results

  • TCS Q2 Profit rises 8.4% YoY to ₹10,431 crore, declares second interim dividend of ₹8 per share.
  • HCL Tech Q2 Profit rises 7% YoY to ₹3,489 crore, board approves dividend of ₹10 per share.
  • Wipro Q2 Profit drops 9% YoY to ₹2,659 crore; revenue climbs 15% ₹22,539.7 crore.
  • Infosys Q2 net up at ₹6,021 crore, announces buyback of ₹9,300 crore, interim dividend of ₹6,940 crore.
  • HDFC Bank’s Q2 net profit rises 20% YoY to ₹10,605 crore, NII rose 18.9% to ₹21,021.2 crore.
  • IDBI Bank Q2 Profit jumps 46% YoY to ₹828 crore, NII grows 48% but provisions rise sharply
  • ITC profit rises 24% YoY to ₹4,670.32 crore; revenue up 25.35% to ₹18,608 crore in Q2.
  • Kotak Mahindra Bank Q2 Profit jumps 27% YoY to ₹2,580 crore, NII rises 26%.
  • HUL Q2 net profit rises 22.2% YoY to ₹2,670 crore; revenue up 16.4% at ₹15,253 crore.
  • ICICI Bank Q2 profit surges 37% to ₹7,558 crore, NII grew 24% YoY to ₹11,765 crore.
  • Maruti Suzuki Profit soars 4x YoY to ₹2,062 crore, posts highest-ever sales revenue of ₹28,545 crore in Q2.
  • Flipkart’s loss widens 51% to ₹4,362 crore in FY22, records 31% YoY jump in revenues to ₹10,659 crore.
  • Dr Reddy’s Q2 Profit jumps 12% YoY to ₹1,114 crore; revenue rises 9.4% to ₹6,332 crore.

 

WORLD INDICES
Indices 31-Oct 30-Sep % 1M 04-Jan % since Jan
BSE 60,747 57,427 5.78% 59,856 1.49%
NSE 18,012 17,094 5.37% 17,805 1.16%
DOW 32,733 28,726 13.95% 36,800 -11.05%
NASDAQ 10,988 10,576 3.90% 15,623 -29.67%
FTSE 7,095 6,894 2.91% 7,505 -5.47%
Nikkei 27,587 25,937 6.36% 29,302 -5.85%
Hang Seng 14,687 17,223 -14.72% 23,290 -36.94%
Straits Times 3,093 3,130 -1.19% 3,181 -2.77%
Shanghai 2,893 3,024 -4.33% 3,632 -20.34%
USD 82.78 81.34 1.77% 74.55 11.04%
Euro 81.97 79.43 3.20% 84.15 -2.60%
GBP 95.19 89.91 5.87% 100.91 -5.67%
Yen/100INR 0.56 0.56 -0.82% 0.64 -13.15%
Gold 50,296 50,027 0.54% 47,950 4.89%
Silver 58,071 56,868 2.12% 62,247 -6.71%
Crude Brent $ 94.83 85.56 10.83% 79.77 18.88%
Crude Nymex $ 87.05 79.74 9.17% 76.80 13.35%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
31-Oct 41,308 28,728 13,382 44,296 13,212
30-Sep 38,632 26,981 12,699 44,406 12,972
% 1M 6.93% 6.47% 5.37% -0.25% 1.85%
04-Jan 36,840 39,371 11,139 37,800 14041
% since Jan 12.13% -27.03% 20.13% 17.18% -5.90%

INDIAN TRADE(USD MILLION)
Exports in ($ Bn) 35.45
Imports ($ Bn) 61.16
FDI 305
Government Bond 10Y 7.45%
GDP YoY 13.50%
Inflation Rate 7.41%
Forex Reserves ($ Bn) 524520
IIP % -0.80%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII(Rs. crore) MF(Rs. crore)
Equity 1,514 7,782
Debt (1,002) (664)
Total 1 M 513 7,118
Total Since Jan (1,63,067) 1,25,104
Equity (1,53,928) 1,53,017
Debt (9,140) (27,913)

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