Economy / Market Snapshot – June, 2019

General News

• ‘One nation, one poll’ to accelerate development: President Kovind addresses joint session of Parliament.
• Thawar Chand Gehlot appointed Leader of House for Rajya Sabha; Piyush Goyal to be Deputy Leader.
• Rajasthan MP Om Birla chosen as the Speaker of the 17th Lok Sabha.
• Triple ‘talaq’ Bill introduced in Lok Sabha amid Opposition protest; govt approves Motor Bill,.
• PM Modi meets govt secretaries; asks to come out with 5-year plan for each ministry, impactful decisions.
• One nation, one election: Key opposition parties skip PM’s meet; Centre to set up panel for suggestions.
• G20 Summit: PM Modi puts forward 5-point approach to tackle global challenges.
• PM Modi holds trilateral meeting with Trump, Abe; also hold talks with G 20 nations leaders.
• PM Modi attends the SCO summit in Kyrgyz capital Bishkek; meets Chinese President Xi on the side-lines.
• Mike Pompeo meets PM Modi, Jaishankar; hold talks to strengthen India-US strategic partnership.
• India will do what is in its national interest: Jaishankar to Pompeo on S-400 deal.
• PM Modi, Maldivian President Solih inaugurate India-built Coastal Surveillance Radar System.
• PM Modi visits Sri Lanka; pays tribute to Easter attack victims in Sri Lanka.
• India rejects US report on religious freedom, says it is committed to tolerance and inclusion.
• Bengal Doctors call off week-long strike after meeting with CM Mamata, give time to act on demands.
• Pan-India doctors went on day-long protest on June 17 in solidarity with Kolkata medicos.
• IMA renews call for central law to protect doctors: Draft seeks 10-year jail, ₹5 lakh fine for perpetrators.
• Centre asks states to consider enacting separate law to protect medical professionals.
• Sonia Gandhi re-elected Chairperson of Congress Parliamentary Party.
• Former health minister J.P. Nadda appointed BJP’s working President, Amit Shah to remain party Chief.
• Amit Shah reviews security situation in J&K on his maiden official visit.
• Delhi CM Kejriwal announces free rides for women in public transport, including buses and metro trains.
• Delhi government school students exempted from CBSE fees, announces Manish Sisodia.
• Madras HC slams Tamil Nadu govt over water crisis, DMK holds state-wide protest over water shortage.
• President’s rule in J&K extended for 6 more months beginning July 3.
• Child death toll rises to 154 in Muzaffarpur, Bihar CM Nitish Kumar announces ₹4 lakh ex-gratia.
• Telangana CM KCR inaugurates ₹80,000 crore mega Kaleshwaram irrigation project.
• 12 of 18 Congress MLAs in Telangana join CM K Chandrashekar Rao’s TRS.
• Andhra CM Y S Jagan Mohan Reddy appoints 5 deputy CMs; weekly offs for policemen comes into force.
• Over 1 lakh people excluded from NRC in Assam ahead of July 5 deadline.
• Election Commission recognized JD(U) as ‘State Party’ in Arunachal Pradesh.
• Kamal Nath Cabinet gives nod for raising OBC reservation in Madhya Pradesh from 14% to 27%.
• HD Kumaraswamy expands Cabinet by inducting two independents.
• After Karnataka and UP, Congress dissolves its Himachal Pradesh unit following poll rout.
• Shops, commercial establishments allowed to be open 24 hours a day in Tamil Nadu.
• Yoga goes beyond caste and creed: PM Modi leads International Yoga Day event in Ranchi.
• India inks agreements to broadcast DD India in Bangladesh, South Korea.
• Amitabh Bachchan pays off loans of 2,100 farmers from Bihar.
• Southwest monsoon finally hits Kerala coast, after a week’s delay.
• Cyclone Vayu spares India coast a direct hit.
• Legendary actor and playwright Girish Karnad dies at 81 in Bengaluru.
• Saradha scam: Former Kolkata Police Commissioner Rajeev Kumar appears before CBI.
• Air Force AN-32 transport plane crashes; no survivors from the wreckage found in Arunachal.
• India signs deal with Israel to procure 100 SPICE bombs.
• India test fires Brahmos Supersonic Cruise Missile from Chandipur test range.
• India successfully conducts flight test of unmanned scramjet demonstration aircraft.
• ISRO unveils first look of Chandrayaan 2 Orbiter, Vikram Lander from its testing facility in Bengaluru.
• India to build indigenous space station in 7 years: ISRO’s K Sivan.
• Ex-President Pratibha Patil conferred Mexico’s highest civilian honour.
• 19 G20 members, excluding the US, recommit to Paris climate deal as the summit comes to an end.
• Donald Trump, Xi Jinping meet on the side-lines of the G20 summit.
• Trump meets Kim Jong Un in North Korea after crossing demilitarised zone.
• Trump launches 2020 re-election campaign, calls US “Envy Of The World”, vows to ‘Keep America Great’.
• US Congress approves $4.5 billion border aid bill.
• Mexico publishes US President Donald Trump’s ‘secret deal’ on migration.
• Donald Trump meets The Queen at Buckingham Palace on UK state visit.
• Mike Pompeo meets Saudi rulers on Iran crisis.
• Boris Johnson tops first ballot in Conservative Party leadership contest.
• China and Russia agree to boost ties amid growing US unilateralism.
• Japanese PM Shinzo Abe visits Iran, urges Rouhani to avoid escalation of Iran-US tensions.
• Trump Heights: Israeli PM Netanyahu unveils a new settlement in the Golan Heights.
• Chinese President Xi Jinping meets North Korean leader Kim Jong-un, discusses Korean Peninsula issues.
• Sri Lanka extends emergency by another month in surprise move.
• Hong Kong govt suspends divisive extradition bill after protests.
• ICC World Cup: Australia becomes first team to qualify for the semis.
• Shikhar Dhawan ruled out of World Cup with thumb injury, Rishabh Pant named replacement.
• Yuvraj Singh announces retirement from International Cricket.
• World’s highest-paid athletes 2019: Virat Kohli sole Indian in Forbes list, moves down to 100 from 83.
• India women’s rugby team claim first-ever international 15s win against Singapore.
• French Open: Rafael Nadal sweeps 12th title and 18th Grand Slam title; Ashleigh Barty wins maiden Grand Slam singles title.
• FIFA Women’s World Cup 2019 kicks off in France; Sweden, Netherlands power through to semi-finals.

Business News

• Making India $5 trillion economy challenging but achievable: PM Modi during Niti Aayog meeting.
• NITI Aayog rejig: Key Cabinet ministers introduced as ex-officio members; Rajiv Kumar stays as VC.
• GST Council extends last date for annual returns to August 30, new filing system from January.
• Council announces mandatory e-ticketing for multiplexes in order to reduce tax evasion.
• National Anti-Profiteering Authority (NAA)’s term extended by 2 years.
• GST collection crosses ₹1 lakh crore-mark for third consecutive month in May.
• Nirmala Sitharaman to present Union Budget on July 5.
• Kerala tops NITI Aayog’s Healthy States ranking again, Bihar and UP worst performers.
• RBI cuts repo rate by 25 bps to 5.75%, lowers GDP growth projection to 7% from earlier 7.2% for FY20.
• RBI Dy Governor Viral Acharya resigns six months before term ends, cites ‘personal reasons’.
• RBI panel deciding on Central bank’s capital reserves defers reserves report for fourth time.
• RBI removes levy on NEFT, RTGS transactions, sets up panel to review ATM fee.
• Payments can be processed abroad but data should be stored in India within 24 hours: RBI.
• SEBI permits stock exchanges to introduce futures on commodity indices.
• SEBI issues stricter norms for rating agencies to enhance standards.
• Securities Appellate Tribunal stays SEBI ban on NDTV’s Roys, next hearing on Sept 16.
• Black money chase: Noose tightens on Swiss accounts; 50 Indians get notices.
• Swiss authorities freeze 4 bank accounts of Nirav Modi, sister.
• UK Court sends Nirav Modi to judicial custody till July 25.
• US Fed leaves interest rate unchanged, signals cuts possible later this year.
• Australia’s central bank cuts rates to historic low of 1.25% as economy slows.
• Pakistan’s China debt at $6.6 billion in past 10 months; funds mostly used on two nuclear plants.
• US agrees to end trade dispute with China, Huawei allowed to buy from US suppliers.
• US’ preferential trade status for India ends on June 5.
• Trump suspends tariffs on Mexico after deal on immigration reached.
• EU formally blocks Thyssenkrupp-Tata Steel joint venture.
• IndiaMart raises ₹213 crore from anchor investors; ₹475 crore IPO oversubscribed 36.21 times.
• Indiabulls Housing Finance-Lakshmi Vilas Bank merger gets CCI nod.
• Reliance Capital sells 10.75% stake in Reliance Nippon Life Asset Management, cuts shareholding to 25%.
• HDFC buys 51.2% in Apollo Munich Health for ₹1,347 crore.
• Piramal Enterprises sells entire stake in Shriram Transport Finance for approximately ₹2,305 crores.
• Sundaram Finance acquires BNP stakes in two joint ventures for ₹1,000 crore.
• Deloitte, BSR face 5-year ban over alleged lapses in auditing books of IL&FS Financial Services.
• PWC resigns as statutory auditor of Anil Ambani-led Reliance Capital and Reliance Home Finance.
• L&T becomes majority shareholder in Mindtree with 60% stake.
• India’s top auto companies announce shutdowns stretching over several days in the ongoing quarter.
• Passenger vehicles retail sales dip 1% in May, two-wheeler sales fall 8.6%: FADA.
• Renault joins Maruti Suzuki, Tata Motors in shunning diesel cars in India.
• MG Motors to manufacture electric vehicle EZS in India.
• Fiat Chrysler withdraws merger offer for Renault.
• Bajaj Auto-Uber join hands to launch Bajaj Qute on UberXS in Bengaluru.
• Jet Airways crisis: NCLT admits SBI’s insolvency plea, orders resolution in three months.
• AAI ties up with Boeing for modernising air traffic management with grant from USTDA.
• Boeing signs first deal for 737 Max jets since Lion Air crash; IAG signs letter of intent for 200 planes.
• TRAI extends timeline for implementation of revised mobile port out norms.
• Microsoft, Oracle team up on cloud services to take on Amazon web services.
• Bharti Airtel pays Tanzania govt $26.2 million to settle ownership row.
• Premium Smartphone Market collapses 8% in Q1 2019, after Apple shipments drop 20%.
• 5 Chinese supercomputer companies blacklisted by US over security fears.
• Facebook announces Libra cryptocurrency, to be launched in the first half of 2020.
• Facebook to give data of hate speech suspects to French courts in world first.
• BPCL, HPCL take 25% stake each in IOC’s ₹10,000-crore LPG pipeline project.
• Govt recognises ONGC as HPCL’s promoter after 15-month impasse.
• Adani Enterprises wins green light for long delayed Australian coal mine.
• Walmart increases stake in Flipkart, buys over 5 lakh shares from Binny Bansal worth $76.4 million.
• 8 Maruti Suzuki models among top 10 best selling cars in India, Swift best-seller clocks 17,039 units.
• OYO becomes China’s largest hotel brand, manages 5 lakh rooms.
• Zomato expands to 100 new cities in India, crossing the 300-city mark.
• Paytm touches gross transaction value of $50 billion in FY19, dominates UPI merchant payment segment.
• Amazon pumps ₹450 crore in India payments unit ‘Amazon Pay’.
• Azim Premji to retire as executive chairman of Wipro on July 30; son Rishad to take over.
• Mindtree approves appointment of 3 L&T nominees as board directors.
• Uber’s chief operating officer and chief marketing officer resigns.
• Yes Bank’s non-executive director Ajai Kumar and independent director Mukesh Sabharwal quit.
• Indian economy grew 7.2% in 2018-19, likely to top at 7.5% in FY19-20: World Bank.
• Real estate FDI: Bengaluru enters list of top 10 cities in Asia Pacific.
• India can boost exports of 350 products to US, China amid trade war: Commerce Ministry report.
• Over ₹2.05 lakh crore frauds in 11 years, ICICI Bank, SBI and HDFC among top victims: RBI Data.