November 2, 2023 by BizWhiz Admin in Economy Snapshot 0 comments 89

General News

  • EC announces dates for Mizoram, Chhattisgarh, Madhya Pradesh, Rajasthan and Telangana.
  • Polls will be held between 7th to 30th of November, counting for all five states on 3rd December.
  • Defence Minister Rajnath releases fifth positive indigenisation list at Navy seminar.
  • India gives Letter of Request to France for buying 26 Rafale-M fighter jets for Navy.
  • India and Australia deepen military cooperation and discuss coordination in the Indo-Pacific.
  • India, France discuss ways to deepen defence-industrial cooperation in 5th Annual Defence Dialogue.
  • India and U.K. discuss Indo-Pacific and trade at ‘2+2’ Foreign and Defence Dialogue.
  • India, Zambia agree on collaboration in manufacturing of small arms and ammunition.
  • Govt declares August 23 as National Space Day to commemorate success of Chandrayaan-3 Mission.
  • ISRO successfully conducts test vehicle mission ahead of human space flight programme.
  • Operation Ajay: About 1,200 passengers, including 18 Nepal citizens, flown back safely from Israel.
  • India resumes visa services in Canada amid diplomatic row.
  • Passenger ferry service between India and Sri Lanka begins again, after nearly 40 years.
  • PM launches India’s first Regional Rapid Transit System (RRTS) in Ghaziabad, Uttar Pradesh.
  • PM Modi distributes more than 51,000 appointment letters to newly inducted recruits.
  • Law Commission presents roadmap on ‘One Nation, One Election’ to Ram Nath Kovind-led panel.
  • Bihar caste census 2023 report: 63% Other Backward Classes, 16% population in General category.
  • JD(S) supremo Deve Gowda sacks Karnataka unit president Ibrahim, appoints Kumaraswamy in his place.
  • Odisha CM’s former aide V K Pandian gets cabinet minister rank, day after voluntary retirement.
  • Raghubar Das sworn in as 26th Governor of Odisha.
  • Tamil Nadu govt files petition in SC against Governor Ravi over delay in clearing bills.
  • Karnataka reserves 33% urban, rural local body seats for OBCs.
  • AFSPA extended in four districts of Assam, withdrawn from four others.
  • Delhi govt launches drive to spray bio-decomposer in paddy fields to prevent stubble burning.
  • President Droupadi Murmu confers 69th National Film Awards in New Delhi.
  • NCERT panel recommends replacing ‘India’ with ‘Bharat’ in school textbooks.
  • Gadkari inaugurates 418-feet national flag at Attari-Wagah border, tallest in country.
  • Monsoon withdraws from India, four days after normal date.
  • 14 killed, several injured after two trains collide in Andhra Pradesh.
  • Ram temple in Ayodhya to be consecrated on January 22.
  • Mumbai’s iconic ‘Premier Padmini’ taxis to go off roads after six decades.
  • 8 former Indian Navy personnel sentenced to death in Qatar.
  • UIDAI chief Amit Agrawal gets one-year extension.
  • MEA spokesperson Bagchi to become India’s new Permanent Representative to UN in Geneva.
  • Former chief election commissioner MS Gill and former Indian cricket team captain Bishan Singh Bedi dies.
  • Hamas invade Supernova festival in south of Israel, atleast 260 killed many taken hostage.
  • Israel strikes Gaza, Syria and West Bank as war against Hamas threatens to ignite other fronts.
  • UNGA calls for immediate truce between Israel and Hamas in Gaza, India abstains from vote.
  • India sends nearly 6.5 tonnes of medical aid, 32 tonnes of disaster relief material to Palestine.
  • UK unveils GBP 10 million aid for Palestinian civilians caught up in conflict.
  • Ukraine uses US-provided long-range ATACMS missiles against Russian forces for the first time.
  • Russian President Putin and Chinese leader Xi jinping meet in Beijing and call for close policy coordination.
  • Ukraine’s Zelenskyy joins a meeting of global defense leaders to make a direct plea for military aid.
  • Kevin McCarthy ousted by US House Republicans in historic vote; Mike Johnson becomes next speaker.
  • Biden administration waives 26 federal laws to allow border wall construction in South Texas.
  • Mike Pence, former vice president, drops out of Republican presidential campaign.
  • New Zealand elects conservative Christopher Luxon as premier after 6 years of liberal rule.
  • Canada withdraws 41 diplomats from India as row over separatist killing grows.
  • Sri Lanka allows Chinese research ship to dock as India’s security concerns grow.
  • Former Pakistan PM Nawaz Sharif returns to Pak after four-year absence.
  • Armenia votes to join International Criminal Court, angering Russia.
  • Australia rejects proposal to recognise Indigenous people in its constitution.
  • Narges Mohammadi wins 2023 Nobel Peace Prize for her fight against oppression of women in Iran.
  • Sultan Ibrahim Sultan Iskandar elected Malaysia’s new king.
  • Pro-China leader Mohamed Muizzu wins Maldives presidential polls.
  • Indian para athletes create history with a record-breaking 111 medals at Hangzhou Asian Para Games.
  • ICC Cricket World Cup 2023: India on top of the points table after six wins from their opening six matches.
  • Rohit Sharma breaks Sachin Tendulkar’s record for most World Cup hundreds with 7th century.
  • David Warner equals Virat Kohli record of most centuries against a single team.
  • ICC announces official mascots ‘Blaze’ and ‘Tonk’ for Cricket World Cup 2023 after fans vote.
  • International Olympic Committee suspends Russian Olympic body.
  • Satwiksairaj-Chirag become first Indian duo to reach number one spot in BWF Rankings.
  • IOC approves Cricket for 2028 Los Angeles Olympics.
  • Karthikeyan Murali becomes third Indian to defeat Magnus Carlsen in Classical Chess.
  • Lionel Messi wins eighth Ballon d’Or as Aitana Bonmati claims women’s award.


Business News

  • Centre hikes LPG subsidy for Ujjwala beneficiaries to ₹300 per cylinder.
  • Govt slashes windfall tax on domestic crude, reduces duty on export of diesel, jet fuel.
  • Hardeep Singh Puri launches India’s first home-produced Reference Fuel in New Delhi.
  • Cabinet approves royalty rates for lithium, niobium, Rare Earth Elements.
  • Govt hikes wheat MSP by ₹150 to ₹2,275 per quintal for 2024-25.
  • GST mop-up rises 10% to over ₹1.62 lakh crore in Sep; crosses ₹1.60 lakh crore mark 4th time in FY24.
  • World Bank retains India’s GDP growth at 6.3 % for 2023-24 despite global headwinds.
  • 18% GST on parent company’s guarantee to subsidiary, waives tax for director’s personal guarantees.
  • Uttarakhand government signs MoUs worth ₹54,550 crore for Global Investor Summit.
  • SAT quashes SEBI’s order against former NDTV promoters Prannoy Roy, Radhika Roy.
  • SEBI orders defreezing of bank, demat accounts, mutual fund folios of Rana Kapoor.
  • SAT sets aside SEBI’s order against Zee’s Punit Goenka, allowed to retain key managerial position.
  • Tata wins Singur Nano case, to get ₹766 crore as compensation.
  • PLI scheme panel approves ₹1,000 crore disbursement to electronics sector beneficiaries.
  • India identifies Kandla, Paradip, Tuticorin to develop as export hubs for Hydrogen, Ammonia, Methanol.
  • India, UAE sign partnership agreement for launching of UAE’s payment card scheme based on RuPay card.
  • RBI keeps repo rate unchanged at 6.5%; FY24 Real GDP Growth Projected at 6.5%, CPI Inflation at 5.4%.
  • RBI hikes UCBs Gold Loan limit for bullet repayments, announces new card tokenisation channel.
  • Axis Bank, Fibe partner to launch India’s first numberless credit card.
  • RBI allows SBI Mutual Fund to acquire up to 9.99% of paid-up share capital in IndusInd bank.
  • IRDAI objects to Hinduja Group pledging shares of insurance company to acquire Reliance Capital.
  • Maruti Suzuki Board approves acquisition of Suzuki Gujarat at ₹12,841 crore.
  • TVS to manufacture BMW’s electric two-wheeler at Hosur plant.
  • Infineon signs semiconductor supply deal with automakers Hyundai, Kia.
  • Reliance unveils swappable, multipurpose batteries for EVs.
  • Air India Express unveils new brand identity, livery, and network expansion with fresh fleet integration.
  • Power Finance Corporation sanctions ₹15,000 crore loans, forays into funding of airport projects.
  • Centre ties with for construction of Indian Coast Guard Training Ship with Mazagon Dock Shipbuilders.
  • Wipro announces merger of five of its wholly-owned subsidiaries with and into parent entity Wipro Ltd.
  • HAL hands over twin seater variant of LCA Tejas fighter aircraft to IAF.
  • Pakistan’s inflation rises to 31.4% YoY amid high energy prices.
  • Sri Lanka confirms major debt deal with China.
  • China’s Xi announces over $100 billion in new Belt and Road funding.
  • Ashwini Vaishnaw inaugurates 4G and 5G connectivity module production line at Manesar, Gurugram.
  • Airtel introduces calling services on Microsoft Teams.
  • India surpasses UK and Japan in mobile speed, ranking 47th in Speedtest Global Index.
  • Amazon seeks regulator’s nod for satcom services in India.
  • Tata Group to manufacture iPhone in India after acquiring Wistron plant.
  • QatarEnergy, TotalEnergies sign 27-year LNG supply agreement.
  • India, Saudi Arabia tie up for electrical interconnections, green hydrogen.
  • ‘X takes on WhatsApp, rolls out audio and video calls.
  • Meta partners with ICC for World Cup 2023 coverage on Instagram, WhatsApp, Facebook, Threads.
  • Centre extends SBI Chairman Dinesh Khara’s tenure till August 2024.
  • RBI approves appointment of Ashok Vaswani as MD & CEO of Kotak Mahindra Bank.
  • A M Naik formally steps down as L&T’s Group Chairman, hands over reins to S N Subrahmanyan.
  • Isha, Akash and Anant Ambani get shareholders nod for appointment as RIL non-executive directors.
  • World Steel Association elects Leon Topalian as Chairman, India’s T V Narendran as Vice Chairman.


Q2 Results

  • Kotak Bank Q2 PAT rises 24% YoY to ₹3,191 crore, Total income increased 36% to ₹13,507.40 crore.
  • HDFC Bank Q2 net profit jumps 51% YoY to ₹15,976 crore, Net interest income stood at ₹27,385 crore.
  • ICICI Bank Q2 net profit up 36% at ₹10,261 crore, NII grew 23.8% YoY to ₹18,308 crore.
  • YES Bank Q2 PAT rises 47.4% YoY to ₹225 crore, NII declined 3.3% to ₹1,925 crore.
  • Axis Bank Q2 Profit rises 10% YoY to ₹5,863 crore; NII jumps 19% to ₹12,314 crore.
  • PNB Q2 Net profit jumps 327% to ₹1,756 crore; NII up 20% YoY.
  • Infosys Q2 PAT rises 3% YoY to ₹6,212 crore; trims FY24 revenue guidance, dividend at ₹18/share.
  • TCS Q2 net profit up 8.7% at ₹11,342 crore; announces buyback of ₹17,000 crore at ₹4,150 a share.
  • HCL Tech Q2 Net profit rises 10% to ₹3,832 crore, revenue up 8%, declares interim dividend of ₹12/share.
  • Tech Mahindra Q2 Net profit plunges 61.6% YoY to ₹494 crore, revenue down 2% ₹12,864 crore.
  • Wipro Q2 Net profit rises just 0.7% YoY to ₹2,667 crore, revenue stood at ₹22,515.90 crore.
  • LTIMindtree net profit falls 2.24% to ₹1,162 crore, declares ₹20/share dividend.
  • Maruti Suzuki’s Q2 PAT soars 80.3% at ₹3,716.5 crore, revenue increased 23.8% to ₹37,062 crore.
  • Bajaj Auto Q2 Net profit jumps 20% to ₹1,836 crore, revenue up by 6% to ₹10,777 crore.
  • TVS Motor Q2 Net profit rises 32% to ₹537 crore, revenue up 13% at ₹8,145 crore.
  • RIL Q2 Net profit rises 30% YoY to ₹19,878 crore, gross revenue rose 1.2% YoY to ₹255,996 crore.
  • UltraTech Cement Q2 Profit zooms 69% YoY to ₹1,281 crore, revenue rises 15% to ₹16,012 crore.
  • Dr Reddy’s Q2 Net profit jumps 33% YoY to ₹1,480 crore, revenue came 9% up at ₹6,880.20 crore.
  • HUL Q2 Profit rises 4% YoY to ₹2,717 crore; dividend declared at ₹18/share.
  • ITC Q2 profit rises 10% YoY at ₹4,927 crore, revenue rises 2.6% at ₹16,550 crore.
  • Paytm’s revenue rises by 32% in Q2 on strong loan growth, losses narrow to ₹292 crore.
  • Apple India revenue jumps 48% to ₹49,322 crore, profit up 77% in FY’23.
  • BPCL Q2 net profit rises to ₹8,243.55 crore as marketing margins improves.

Indices 31-Oct 29-Sep % 1M 02-Jan % since Jan
BSE 63875 65828 -2.97% 61,168 4.43%
NSE 19080 19638 -2.84% 18,197 4.85%
DOW 33053 33508 -1.36% 33,147 -0.28%
NASDAQ 12851 13219 -2.78% 10,466 22.78%
FTSE 7322 7608 -3.76% 7,452 -1.74%
Nikkei 30859 31858 -3.14% 26,095 18.26%
Hang Seng 17112 17810 -3.91% 19,781 -13.49%
Straits Times 3068 3217 -4.65% 3,251 -5.65%
Shanghai 3019 3110 -2.95% 3,089 -2.28%
USD 83.25 83.04 0.25% 82.72 0.65%
Euro 88.73 87.81 1.05% 88.30 0.50%
GBP 101.50 101.33 0.17% 99.91 1.59%
Yen/100INR 0.5525 0.556 -0.63% 0.64 -13.36%
Gold 60819 57096 6.52% 55,586 9.41%
Silver 71110 69870 1.77% 70,579 0.75%
Crude Brent $ 85.29 92.09 -7.38% 85.50 -0.25%
Crude Nymex $ 81.13 90.77 -10.62% 79.92 1.51%

31-Oct 42,846 30,582 15,916 51,263 14,684
29-Sep 44,585 31,784 16,184 51,603 15,423
% 1M -3.90% -3.78% -1.66% -0.66% -4.79%
02-Jan 43,203 28,737 12,668 44,193 12,551
% since Jan -0.83% 6.42% 25.64% 16.00% 16.99%

Exports in ($ Bn) 34.47
Imports ($ Bn) 53.84
FDI -2831
Government Bond 10Y 7.18%
GDP YoY 7.80%
Inflation Rate 5.02%
Forex Reserves ($ Mn) 5,83,530
IIP % 10.30%

Particulars FII (Rs. crore) MF (Rs. crore)
Equity (21,680) 13,878
Debt 5,522 (938)
Total 1 M (16,157) 12,940
Total Since Jan 1,29,793 75,715
Equity 97,756 1,25,743
Debt 32,036 (50,028)

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