Category Archives: Economy Snapshot

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in April, 2019

Indian markets went up by 1% and the Sensex has managed to stay at 39,000 levels. All the sectors registered gains except Bank Nifty which lost about 2%. IT is the biggest gainer last month with 7% gains. FII’s invested about Rs.21,000 crores in in the equity market while Domestic Institutional Investors pulled out 5,800 crores.

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in February, 2019

Indian market was marginally down last month. Bank Nifty and FMCG stocks lost about 2% while IT and Auto stocks went up by 1.50%. FII’s invested about Rs.14,500 crores in in the equity market while Domestic Institutional Investors invested 5,700 crores. Indian Rupee closed at Rs.70.72 for 1 US $.

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in January, 2019

Indian market was almost the same as last month but with volatility. On the sectoral indices, IT moved up by 7% while Auto lost about 11%. FII’s sold about Rs.3,200 crores in in the equity market while Domestic Institutional Investors invested 7,700 crores. Domestic Institutional Investors invested a whopping Rs.55,600 crores in the debt market showing that liquidity is available but shied away from the equity market.

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in December, 2018.

Indian market was marginally down in December, 2018. Bank Nifty and FMCG registered 1% gains while Pharma lost about 4% and IT lost about 1%. 2018 saw the market gaining about 4%. IT gained 25% in 2018 while Auto lost about 22% in the year. FII’s invested about Rs.7,900 crores in December while Domestic Institutional Investors invested 72,100 crores in both Equity and Debt markets. Overall in 2018, FII’s sold Rs.24,000 crores in Equity market and Rs 51,700 crores in debt market. Compared to this, the Domestic Institutional Investors have invested Rs.1,13,300 crores in the equity market and Rs.3,29,100 crores in the debt market.

General News

• Assembly elections: Chhattisgarh recorded 72% voter turnout in the last phase; Madhya Pradesh,
  Mizoram recorded 75% voter turnout.
• J&K Governor Satya Pal Malik dissolves assembly; PDP-NC-Congress alliance and PC’s Sajad Lone with
  BJP support stake claims to form govt.
• India, Australia ink 5 pacts as President Ram Nath Kovind meets PM Morrison.
• Vice-President Naidu embarked on 6-day visit to Botswana, Zimbabwe, Malawi.
• PM attends East Asia Summit in Singapore; meets US Vice President Mike Pence, discusses Indo-US ties.
• PM Modi attend swearing-in of new Maldives President Ibrahim Mohamed Solih.
• South Korean First Lady Kim Jung-sook meets PM Modi as official representative of S Korea.
• Sushma Swaraj meets Laotian counterpart, holds talks on IT, defence and trade & investment.
• NSA Ajit Doval and Chinese Foreign Minister Wang Yi hold the 21st round of border talks in China.
• AP CM Chandrababu Naidu proposes anti-BJP front to ‘Save Democracy’; meets Sharad Pawar, Farooq
  Abdullah, Kumaraswamy, HD Deve Gowda, DMK chief MK Stalin, Mamata Banerjee.
• Vice President Venkaiah Naidu lays foundation stone of Kartarpur corridor in Punjab.
• Union Ministers Harsimrat Kaur Badal and Hardeep Singh Puri, Navjot Singh Sidhu attend the Kartarpur
  corridor ceremony in Pakistan inaugurated by PM Imram Khan.
• PM Modi inaugurates Kundli-Manesar-Palwal expressway and Delhi Metro line in Haryana.
• First multi-modal terminal constructed on river Ganga inaugurated by PM.
• PM Modi flags off City Gas Distribution (CGD) projects implementation across 122 districts.
• Cyclone Gaja wreaks havoc in Tamil Nadu, claims 45 lives; CM seeks ₹15,000 crore aide from Centre.
• Shutting down Tamil Nadu’s Sterlite plant unjustified: National Green Tribunal.
• Karnataka bypoll results: Congress-JD(S) combine scores 4-1 victory.
• UP cabinet approves renaming of Faizabad as Ayodhya, Allahabad as Prayagraj.
• Rajasthan: Congress fields BJP veteran Jaswant Singh’s son Manvendra Singh against CM Vasundhara
  Raje; Ashok Gehlot, Sachin Pilot to contest elections.
• Madhya Pradesh: Congress’ Arun Yadav to take on CM Shivraj Singh Chouhan.
• Telangana assembly polls: Sonia Gandhi holds first-ever rally in state.
• Tribal farmers call off protest as Maharashtra govt vows to fulfil demands.
• Farmers across India on protest in Delhi demanding loan waivers and better prices for their produce.
• Supreme Court agrees to review Sabarimala temple verdict in Open Court on January 22.
• Devaswom board moves SC seeking more time to implement verdict.
• Northeastern states agree to implement Real Estate Regulation Act (RERA).
• Odisha House passes resolution proposing 33% reservation for women in Parliament, state assemblies.
• CBI vs Govt: Citing breach of confidentiality, furious SC adjourns Alok Verma hearing.
• SC declines early hearing of pleas in Ram Janmabhoomi Babri Masjid title dispute case.
• Union Minister Ananth Kumar dies at 59; Kannada actor and ex-union minister Ambareesh passes away.
• UP govt’s Deepotsav sets world record for lighting over three lakh diyas on banks of River Sarayu.
• SC rejects CBI’s appeal challenging Delhi HC order quashing charges against accused in the Bofors case.
• SC permits “green firecrackers”; fixes a two-hour time period for bursting them on Diwali.
• Madras HC quashes I-T Department’s criminal prosecution against Chidambaram’s family.
• India, China agree to take measured steps to strengthen military ties, enhance exchanges.
• Army inducts 3 major artillery gun systems, including American M777 Howitzers.
• ISRO launches GSAT-29, the heaviest satellite and HysIS observation satellite, 30 others with PSLV-C43.
• India’s first nuclear ballistic missile submarine INS Arihant, completed its first deterrence patrol.
• Pricing of Rafale jets can be discussed only if facts on deal come in public domain: SC.
• India sees 24% drop in malaria cases, Odisha best performer in fight against the disease: WHO.
• PM Modi and world leaders attend G-20 Summit in Argentina.
• US restores Iran sanctions lifted under Obama nuclear deal.
• US Mid-Term Polls: Democrats take control of the House of Representatives.
• US Attorney General Jeff Sessions resigns at Trump’s request.
• North Korea threatens to resume nuclear work without sanctions relief.
• Mike Pence, Shinzo Abe agree to keep sanctions on North Korea to achieve denuclearisation.
• US federal judge bars Trump govt from refusing asylum to immigrants who cross the border illegally.
• CIA didn’t ‘conclude’ that Saudi Crown Prince ordered journalist’s murder: Donald Trump.
• Deadliest fire in California history kills 42 people scorching 154,000 acres.
• UK and EU agree draft declaration for Brexit deal; UK parliament to vote on deal on December 11.
• India and 11 countries attend Afghan peace talks with Taliban hosted by Russia at ‘non-official level.
• Sri Lankan President dissolves Parliament, calls for snap polls on January 5.
• Sri Lanka’s parliament passes no-confidence vote against newly appointed PM Rajapaksa.
• Pakistan PM Imran Khan meets China’s XI Jinping; sign 16 agreements to curb poverty in Pakistan.
• South Korean’s Kim Jong Yang elected Interpol President.
• World leaders mark 100 years since end of World War I with solemn ceremonies.
• India vs Australia T20: 3-match series tied as rain plays spoilsport.
• India vs West Indies: India wins the 5 match ODI series 3-1 and sweeps 3 match T20 3-0.
• ICC Women’s World T20: India crash out in semis; Australia thrash England to lift fourth title.
• Hockey World Cup 2018: India hosts the world’s top 16 teams; hopes to end 43-year title wait.
• Rahul Dravid becomes 5th Indian player to be inducted into ICC Hall of Fame.
• Rohit Sharma sets record, becomes first batsman to score four T20I centuries; Mithali Raj becomes India’s
  highest T20I run scorer.
• World Boxing Championship 2018 Final: Mary Kom makes history, wins record 6th Gold.

Business News

• RBI board meet: RBI agree to set up a panel for sharing surplus and to restructure loans of SMEs.
• India does not need money from the RBI in the next six months: Finance Minister Arun Jaitley.
• RBI starts process to set up digital Public Credit Registry for capturing all details of borrowers.
• Governor Urjit Patel appears before a parliamentary panel to brief on demonetisation and NPA situation.
• PM Modi announces a 12-point package for Micro, Small and Medium Enterprises (MSMEs).
• EV infra policy soon; individual can set up charging station for commercial use: Power Minister.
• Centre decides to set up a domestic Gold Council in India.
• India’s GDP grew by 8.5% in the FY 2010-11 and not at 10.3% as previously estimated: CSO.
• Make in Odisha Conclave 2018 bags investment worth ₹4,19,574 crores.
• Govt authorises PSU bank chiefs to block wilful defaulters’ exit from India.
• NSE launches, NSE goBID, online platform for retail investors to buy G-sec.
• HCL Tech, Bajaj Finance to replace Wipro, Adani Ports in BSE Sensex from December 24.
• Indian rupee breaches 70/$ as crude oil softens.
• Fed leaves rates unchanged, says US economy strong, notes slowing in business investment.
• Trump administration imposes restrictions on technology exports to Chinese firm on security grounds.
• 50 Indian objects face warmth as US revokes duty-free privileges on import of 90 merchandise.
• US pushes ahead with Iran oil sanctions but grants waivers to 8 countries including India.
• US imports rise to record $266.6 billion despite protectionist policies.
• US-China discord dominates in Papua APEC summit; Russia warns against protectionism.
• IMF links Pakistan bailout talks to FATF gray list; demands details of its financial aid deal with China.
• Industrial and Commercial Bank of China sets up $200 million fund for investing in Indian MSMEs.
• Bitcoin sinks to new 13-month low, touches $3,900.
• Mahindra Electric Mobility opens ₹100 crore manufacturing hub in Bengaluru.
• Volvo Cars to be the first company to locally assemble plug-in hybrids in India.
• Fiat to discontinue Punto and Linea in India, focus on Jeep.
• Tesla cuts China car prices to absorb hit from trade war tariffs.
• Tata Sons says in preliminary talks with Jet Airways around a deal.
• Oil declines to 7-month low as worldwide supply anxieties ease; Brent oil drops under $60 for first time
  since April.
• Airtel, Reliance Jio, BSNL roll out alternate digital KYC process after SC verdict on Aadhaar.
• Bharti Airtel kicks off Africa IPO plan, appoints 8 global banks.
• Samsung unveils Infinity Flex, the much-awaited ‘foldable’ phone.
• IL&FS Financial Services’ exposure to group firms breaches RBI norms: Uday Kotak-led board.
• Kotak, L&T, NBCC, 2 others submit Express of Interest to take over bankrupt Jaypee Infratech.
• GAIL, GETCO move NCLT seeking rejection of ArcelorMittal bid for Essar Steel.
• Ola forays in New Zealand foray; expands further in the UK, announces rollout in South-West England.
• Amazon in advance stage talks to buy 9.5% stake in Future Retail.
• Walmart raises stake in Flipkart to 81.3%.
• Alibaba sets new Singles Day record with more than $30.8 billion in sales in 24 hours.
• Baba Ramdev-led Patanjali Ayurved enters branded apparel space, aims ₹1,000 crore business in FY20.
• Thousands of Google employees stage walkout worldwide to protest office harassment, inequality.
• Aurobindo Pharma’s US subsidiary enters into agreement with Advent Pharma.
• UIDAI CEO Ajay Bhushan Pandey to replace Hasmukh Adhia as new Revenue Secretary.
• Nissan, Mitsubishi ousts Carlos Ghosn as Chairman following his arrest over financial violations.
• Tesla taps Robyn Denholm to replace Elon Musk as board chair.
• Ashok Leyland’s MD and CEO Vinod Dasari to step down effective March 31, 2019.
• Ashok Chawla resigns as non-exec. Chairman and R Chandrasekhar as Independent Director of Yes Bank.
• Gautam Singhania steps down as Raymond Apparel chairman.
• Vikram Singh Mehta and Ranjan Mathai quit as Independent Directors from Jet Airways board.
• Nearly 50% of India’s ATMs may shut down by March 2019 : Confederation of ATM Industry.
• India jumps 23 spots to 77th rank in ‘World Bank Ease of Doing Business 2019’ rankings.
• 2019 India Skills report: AP tops the list with the highest employability followed by Rajasthan, Haryana.

Q2 Results

• SBI Q2 profit slumps 40.26% YoY to ₹944.87 crores, GNPA lower at 9.95%, NPAs improved to 4.84%.
• PNB reports a Q2 loss of ₹4,532.35 crores on massive provisions and contingencies of ₹9,757.90 crores.
• IDBI Bank posts Q2 loss at ₹3,602.49 crores, provisions surge 102% to ₹6,579.83 crores.
• Bank of India posts Q2 net loss at ₹1,156 crores, NII down 12.74% at ₹2,927 crores, GNPA at 16.36%.
• HDFC Q2 profit jumps 24.71% to ₹2,467 crores on stake sale in AMC business.
• DHFL Q2 profit rises 52.46% YoY to ₹439 crores, total revenue increased 33.78% to ₹3,515.66 crores.
• Ashok Leyland Q2 net profit rises 37% YoY to ₹459.6 crores, revenue up 25.2% at ₹7,608 crores.
• M&M Q2 net profit up 26% YoY at ₹1,778.75 crores; revenue grow 6% to ₹12,790.17 crores.
• Ford India turns profitable after nine years recorded a profit of ₹526 crores in FY18.
• Toyota profit zooms to ₹965 crore in FY18 driven by Innova, Fortuner.
• IOC Q2 profit falls 52.5% to ₹3,247 crores, revenue rose to ₹1.32 lakh crores.
• ONGC Q2 net profit rises 61% to ₹8,265 crores, income from operations rose by 47.5% to ₹27,989 crores.
• SpiceJet posts net loss of ₹389 crores for Q2 on rising fuel cost, rupee depreciation.

General News

• Assembly polls: Madhya Pradesh and Mizoram will vote on November 28, Rajasthan and Telangana on
  December 7; Chhattisgarh voting on Nov 12 and Nov 20. Counting for 5 states on December 11.
• PM Modi meets Japanese counterpart Shinzo Abe; India, Japan ink six pacts, agree for 2+2 dialogue.
• India signs $5.4-billion deal to buy 5 S-400 missile systems from Russia during President Putin’s visit.
• Nirmala Sitharaman visits France for the first India-France Ministerial level annual defence dialogue.
• President Kovind visits Tajikistan; hold talks to strengthen India’s ties with the Central Asian country.
• Sushma Swaraj attends the Council of Heads of Govt Meeting of SCO in Tajikistan.
• Uzbek President Shavkat Mirziyoyev’s visits India; 17 MoUs inked for cooperation in various sectors.
• India and Croatia signs two agreements to facilitate cultural exchange & diplomatic cooperation.
• Cabinet approves MoU amongst BRICS nations regarding cooperation in the social and labour sphere.
• Statue of Unity: PM Modi unveils world’s tallest statue, credits Sardar Patel for united India.
• CBI Director Alok Verma, Special Director Rakesh Asthana divested of powers, sent on leave; MN Rao,
  Joint Director at CBI appointed as the new interim Director.
• SC gives CVC 2 weeks to complete inquiry against Verma, orders MN Rao not to take policy decisions.
• Sabarimala row: Devotees stop women from entering temple, SC agrees to review verdict on Nov 13.
• J&K municipal polls: Independents win 178 seats, BJP 100 and Congress 157 seats.
• Office-of-profit case: President Kovind dismisses plea to disqualify 27 AAP MLAs.
• Chief Secretary assault case: Delhi Court grants bail to Kejriwal, Sisodia and other 11 AAP MLAs.
• Farmers end 10-day Kisan Kranti Yatra march, claim victory after being allowed to enter Delhi.
• Madras HC upholds disqualification of 18 rebel AIADMK legislators.
• Jayalalithaa death probe: TN govt gives Justice Arumughaswamy Commission extension of 4 months.
• UP govt officially renames Allahabad to Prayagraj .
• Amritsar train accident: 61 dead as speeding train runs over crowd at Dussehra celebration.
• Justice Ranjan Gogoi sworn in as 46th Chief Justice of India.
• SC fixes 8pm – 10 pm for bursting crackers on Diwali, allows southern states to decide on 2-hour slot.
• SC allows deportation of seven suspected Rohingyas from Assam to Myanmar.
• Madras High Court orders CBI inquiry into corruption claims against Tamil Nadu CM Palaniswami.
• INX Media case: ED attaches Karti Chidambaram’s assets worth ₹54 crores in India, UK, Spain.
• ED files charge sheet against P Chidambaram in Aircel Maxis case.
• Bhima Koregaon violence: Bail plea of 3 activists rejected.
• Cyclone Titli wreaks havoc in Odisha, Andhra Pradesh; death toll touches 62.
• India witnesses biggest Zika virus outbreak as 105 test positive in Jaipur.
• India’s 2018 monsoon rainfall below average and forecast: IMD.
• Rafale Deal: Centre submits decision-making details in sealed cover to SC.
• BrahMos Aerospace engineer arrested for allegedly leaking information to Pakistan.
• Mike Pompeo visits China amid worsening ties over trade friction.
• North Korea agrees to allow inspectors into nuclear testing site: Mike Pompeo.
• South, North Korea agree to reconnect roads, rail amid US concern over easing sanctions.
• Brett Kavanaugh sworn in as US Supreme Court Justice after divisive fight.
• Nikki Haley resigns as US Ambassador to the UN.
• Explosive devices mailed to Obama, Hillary Clinton, others prompt security scare.
• Saudi confirms Jamal Khashoggi was killed in ‘brawl’ inside Istanbul consulate, King fires top officials.
• Interpol chief resigns amid detention in China.
• Chinese Premier Li Keqiang and Japan’s Abe announce China-Japan deals, commit to stable relations.
• EU workers moving to UK post-Brexit need visas, skills: British PM Theresa May.
• Sri Lankan President Sirisena sacks Ranil Wickremesinghe, appoints Mahinda Rajapaksa as new PM.
• Malaysia charges former PM Najib Razak, ex-Treasury head in graft probe.
• South Korea jails former President Lee Myung-bak for 15 years on corruption charges.
• Afghanistan votes for a new Parliament, terror attacks leave 170 dead.
• Maldives Supreme Court upholds President Abdulla Yameen’s vote defeat.
• Indonesia tsunami and quake: Death toll reaches 2,256; inflicts $911 million in losses.
• Indonesia’s Lion Air flight carrying 189 passengers crashes off near Sumatra.
• World’s longest 55 km sea-crossing bridge opens in China, connects Hong Kong to the mainland.
• Earth has 10 years left to avoid ‘unthinkable damage: UN climate report.
• Congolese Doctor Denis Mukwege and Yazidi Activist Nadia Murad awarded Nobel Peace Prize.
• 2018 Asian Para Games: India record best-ever medal haul, placed at ninth with 72 medals.
• Youth Olympic Games: India ends at 16th spot with 13 medals.
• World Wrestling Championship: Bajrang Punia settles for Silver, Pooja Dhanda wins bronze.
• Asian Hockey Champions Trophy: India shares title with Pakistan as finals called off due to heavy rain.
• India vs West Indies: India lead the 5-match series 2-1.
• India tops ICC Test team rankings; Virat Kohli, Rohit Sharma maintain top spots among ODI batsmen.
• Virat Kohli completes 10,000 ODI runs, beats Sachin Tendulkar to become fastest to reach milestone.
• FIFA rankings: Belgium overtakes France for the top spot, while Germany drops to 14th position.

Business News

• RBI maintains a status quo in October policy, keeps repo rate unchanged at 6.50%.
• Govt cuts excise duty on fuel by ₹1.50; oil marketing companies (OMCs) to absorb ₹1.
• Govt raises import duties up to 20% on 17 items, list includes smart watches, telecom equipment.
• Fiscal deficit touched 95.3% of 2018-’19 target in April-September: Govt.
• Manufacturing activity strengthens in September, PMI rises to 52.2 from 51.7 in August.
• Costlier food, fuel push September wholesale inflation to 2-month high of 5.13% vs 4.53% in August.
• India, Japan sign $75 billion currency swap agreement.
• SEBI empanels KPMG, Deloitte, 7 others to conduct forensic audit of listed companies.
• NSE enters commodity derivatives trading business with gold and silver contracts.
• NITI Aayog launches guidelines for Public-Private partnership in NCDs.
• International Finance Corporation launches $1 billion masala bonds to aid India investments.
• No mobile number will be disconnected, go for fresh KYC to delink Aadhaar: Telecom Dept.
• IDBI Bank allots 33.98 crore shares to LIC, stake increases to 14.89% post preferential allotment.
• Bank of Maharashtra shuts 51 branches for cost cutting.
• RBI sticks to Oct 15 deadline for data localisation.
• NCLT allows govt to take control of IL&FS; Uday Kotak, ICICI Bank’s GC Chaturvedi named on new board.
• RBI lays out rules to make seamless payments between different mobile wallets.
• FERA violation: Delhi court orders attachment of Mallya’s properties in Bengaluru.
• PNB case: ED attaches ₹637 crores worth of assets of Nirav Modi, over ₹218-crore assets of Mehul Choksi.
• India Mobile Congress 2018 discusses India’s road to 5G development.
• IBM acquires Red Hat in deal valued at $34 billion.
• Domestic passenger vehicle sales rose 6.88%, Domestic car sales grew by 6.8% in Apr-Sep: SIAM.
• Canada agrees to join US and Mexico on new trade deal to replace NAFTA.
• China’s Central Bank cuts reserve requirement ratio for fourth time this year.
• China, Japan sign bilateral currency swap deal of up to $30 billion.
• Reliance acquires 58.92% stake in Den Networks, 51.34% share in Hathway.
• IRDA makes long-term personal accident insurance optional.
• Ford sets up China business as a stand-alone unit.
• Govt unveils Digi Yatra, facial recognition system that allows entry into airports.
• India Energy Forum: Saudi Arabia commits to meeting India’s oil demand; keen to invest in downstream.
• Saudi Investment Summit: Saudi Arabia signs deals worth $56 billion.
• Qatar Petroleum signs 5-year LPG supply deal with China.
• Facebook shareholders back proposal to remove Mark Zuckerberg as Chairman.
• Alphabet shuts down Google+ after 5 lakh users’ data breached.
• WhatsApp builds system to comply with India’s payments data storage norms.
• Paytm launches ‘PayPay’ mobile wallet in Japan in JV with SoftBank, Yahoo Japan.
• Amazon in talks to buy 7-8% stake in Kishore Biyani’s Future Retail for ₹2,486 crores.
• US retail giant Sears files for bankruptcy.
• OYO expands international presence; forays into UAE and Indonesia.
• Govt allocates ₹144 crores to AYUSH ministry for alternative medicines.
• Dr Reddy’s sells US antibiotics manufacturing facility to UAE’s Neopharma.
• All patients fitted with Johnson & Johnson’s faulty hip implants can claim compensation: Panel.
• Zydus Wellness co jointly with Cadila Health propose to acquire Heinz India for ₹4,595 crores.
• IMF cuts world economic growth forecasts for 2018 and 2019 to 3.7% from 3.9%; projects India’s growth
  rate at 7.3% in 2018, 7.4% in 2019.
• US budget deficit hits $779 billion in Trump’s first full fiscal year.
• UK inflation drops more than expected in Sept, pulled down by food prices.
• India 58th most competitive economy in WEF index, rank up 5 places over 2017, US tops the list.
• Financial Action Task Force finalises report with recommendations for de-listing Pakistan from grey list.
• Chanda Kochhar quits ICICI Bank, board appoints Sandeep Bakhshi as MD, CEO for 5 years.
• Arundhati Bhattacharya join the boards of Reliance Industries and Wipro.
• IMF appoints Harvard professor Gita Gopinath its first woman Chief Economist.
• Sunil Bhaskaran appointed as AirAsia India head; Tony Fernandes & Bo Lingam step down.

Q2 Results

• HDFC Bank’s Q2 profit rises 20.6% to ₹5,005 crores, Provisions and contingencies up 23% to ₹1,820 crores.
• ICICI Bank Q2 profit tanks 55.84% to ₹908.88 crores, asset quality improves, GNPA lower at 8.54%.
• Yes Bank Q2 profit falls 3.8% to ₹964.7 crores, NII increased 28.2% to ₹2,417.55 crores.
• Canara Bank Q2 profit rises 5% to ₹299.5 crores as asset quality improves, GNPA down at 10.56%.
• IndusInd Bank Q2 profit rises 4.56% to ₹920.25 crores, GNPA fell to 1.09% and NNPA declined to 0.48%.
• Federal Bank Q2 profit grew by 0.9% YoY to ₹266 crores, GNPA increased to 3.11%, NNPA higher at 1.78%.
• Infosys Q2 profit up 13.8% to ₹4,110 crores, revenue up by 7.7%; announces dividend of ₹7/share.
• Tech Mahindra Q2 profit jumps 27% to ₹1,064 crores, revenue increased to ₹8,629.85 crores.
• Mindtree Q2 profit grows 30.4% to ₹206.3 crores, revenue grew by 7.07% to ₹1,755.4 crores.
• TCS profit up 22.57% to ₹7,901 crores; revenue up at ₹36,854 crores, announces dividend of ₹ 4/share.
• Tata Motors posts Q2 loss of ₹1,049 crores on lean JLR sales, revenue climbed to ₹71,293 crores.
• Maruti Suzuki Q2 profit falls 10% to ₹2,240 crores, revenue rises 3% to ₹22,433.2 crores.
• Bajaj Auto Q2 profit rises 4% YoY to ₹1,152 crores, revenue grew 21.63% to ₹7,986.79 crores.
• HUL Q2 profit jumps 23% YoY to ₹1,522 crores, revenue comes at ₹9,138 crores.
• ITC Q2 profit rises 11.92% YoY to ₹2,954.67 crores, revenue increased 7.3% to ₹11,069 crores.
• L&T Q2 profit rises 22.53% YoY to ₹2,230 crores, revenue grew 21% to ₹32,081 crores.
• RIL Q2 Profit soars 17.4% YoY to ₹9,516 crores, revenues increased by 54.5% YoY to ₹1,56,291 crores.
• BHEL Q2 profit jumps 60.43% to ₹185.17 crores; revenue grew by 6.34% YoY to ₹6,779.88 crores.
• Hindustan Zinc Q2 profit falls 29.5% at ₹1,815 crores; declares interim dividend at ₹20/share.
• Dr Reddy’s posts 77% rise in Q2 net profit at ₹503.8 crores, revenue rose 7% to ₹3,797.8 crores.

General News

• SC declares Aadhaar as constitutionally valid; needed for PAN, but not mandatory for bank accounts, mobile services, schools.
• SC to hold hearing on Ayodhya case from 29th Oct ‘18 by a 3-member bench.
• SC lifts ban on entry of women of all ages into Sabrimala Temple.
• Defence Minister Nirmala Sitharaman and Foreign Minister Sushma Swaraj host their counterparts Jim Mattis and Sushma Swaraj for the India-US 2+2 dialogue.
• India, US ink Communications Compatibility and Security Agreement; discuss cross-border terrorism and H-1B visa issue.
• National Security Advisor Ajit Doval meets top officials of the Trump Administration in Washington.
• President Ram Nath Kovind embarked on a 3-nation tour to Cyprus, Bulgaria and the Czech Republic.
• Vice President M Venkaiah Naidu was on 8-day visit to Serbia, Malta, Romania.
• Sushma Swaraj, Russia’s Deputy PM Yuri Borisov review progress in bilateral cooperation in Moscow.
• Afghan President Ghani holds talks with PM Modi on ways to further boost bilateral cooperation.
• Defence Ministry approves procurement of military equipment and weapons worth ₹9,100 crores.
• Govt releases ₹400 crore to 10 states having International Borders for developing forward areas.
• Bharat Bandh called by Congress and Left parties against spiralling fuel prices evokes mixed response.
• Poll panel removes NOTA option from Rajya Sabha elections.
• Justice Ranjan Gogoi to succeed Justice Dipak Misra as Chief Justice of India.
• Cabinet approves ordinance making triple talaq punishable offence.
• Arvind Kejriwal launches door step delivery of 40 public services in Delhi.
• Telangana CM K Chandrashekar Rao dissolves assembly, calls for early polls.
• Goa cabinet rejig: Manohar Parrikar to continue as CM, two ailing ministers dropped.
• SC allows live streaming, video recording of court proceedings, directs for framing of rules.
• SC asks states to comply with its order to deal with cow vigilantism, mob lynching.
• Supreme Court scraps 158-year-old adultery law.
• UK court to deliver its verdict on Vijay Mallya’s extradition case on December 10.
• ISRO spy case: All accused in the case acquitted of all charges, scientist awarded ₹50 lakh for wrongful arrest; probe ordered against the cops.
• Bhima Koregaon arrests: SC extends house arrest order for activists.
• ISRO successfully launches 2 earth observation satellites for UK.
• Sikkim gets its first airport and the country its 100th at Pakyong.
• PM Modi launches ‘Swachhata hi seva movement’ as part of Swachh Bharat mission.
• Cabinet approves remuneration hike of Accredited Social Health Activist scheme, Anganwadi workers.
• Venkaiah Naidu, Mohan Bhagwat attend Swami Vivekananda’s 125th Chicago speech anniversary.
• Hardik Patel ends his indefinite fast over reservation after 19 days.
• Poll strategist Prashant Kishor joins Bihar Chief Minister Nitish Kumar’s Janata Dal (United).
• Over 1,400 lives lost due to rains, floods so far this monsoon: Home Ministry.
• Trump inks his administration’s first trade deal with South Korea on the sidelines of the UN meet.
• Iranian President Rouhani slams US for ‘authoritarian’ foreign policy, calls on Trump to return to talks.
• Canada not making concessions needed for a NAFTA deal: US.
• Expect India to cut oil imports from Iran to zero by November: US.
• US to start deportation process of foreigners with expired visa from Oct 1.
• North Korea celebrates its 70th anniversary as a nation with military parade.
• Leaders of North and South Korea meet in Pyongyang for 3rd summit.
• Turkey, Russia agree on demilitarized zone in Syria’s Idlib.
• Japan conducts first submarine drill in disputed South China Sea.
• Chinese President Xi Jinping promotes ‘Belt and Road’ as Africa growth tool.
• Japan’s PM Shinzo Abe wins ruling party leadership vote, heads for an extended 3-year term.
• No-deal Brexit preferable to EU offer: Theresa May.
• US cancels $300 million in aid to Pakistan over lack of action against Taliban.
• Arif Alvi sworn in as Pakistan’s 13th President.
• Islamabad Court suspends Nawaz Sharif, Maryam Nawaz’s jail term in Panama papers case.
• Maldives Opposition leader Ibrahim Mohamed Solih wins presidential election with 58.3% vote.
• Indonesia calls for international help to deal with quake-tsunami that killed at least 832 people.
• Nearly 40 dead in Carolinas as Florence brings ‘epic’ floods.
• Typhoon Jebi: Japan hit by strongest storm in 25 years, prompting evacuations.
• Asian Games 2018: India finishes 8th with 69 medals – 15 gold, 24 silver and 30 bronze.
• Virat Kohli, Mirabai Chanu conferred with Rajiv Gandhi Khel Ratna Award. 20 athletes conferred with the Arjuna Award including javelin thrower Neeraj Chopra, sprinter Jinson Johnson and Hima Das.
• ISSF World Championships: Hriday Hazarika, junior women’s team strike twin golds in 10m air rifle events; Ankur Mittal wins double trap gold.
• India vs England: England clinch five-match series 4-1.
• Asia Cup: India pip Bangladesh in another last-ball thriller to win title for 7th time.
• Virat Kohli surpasses MS Dhoni, becomes first Indian to score 4000 runs as Test captain.
• India continues to be at the No.1 position, England grabs fourth spot in the ICC Test team rankings.
• England’s highest Test run-scorer Alastair Cook retires from international cricket.
• James Anderson claims 564th wicket to become 4th highest wicket-taker in Test cricket.
• US Open 2018: Japan’s Naomi Osaka stuns Serena Williams to clinch maiden Grand Slam title; Novak Djokovic beats Juan Martin Del Potro to win his 3rd US Open title.
• Kenyan Eliud Kipchoge sets new marathon world record in Berlin.
• Croatia’s Luka Modric beats Ronaldo & Salah to win FIFA best Player of the year award.

Business News

• Govt proposes merger of Bank of Baroda, Dena and Vijaya Bank.
• Finance Ministry gives in-principle nod for share buyback in 13 PSUs.
• Indian rupee recovers after continuous fall against US Dollar and crashing below the 72-mark.
• Finance ministry announces a series of measures to boost capital inflows and to curb the rupee fall.
• Depreciating rupee and expensive crude oil pushes fuel prices to record high.
• Andhra Pradesh, Rajasthan, West Bengal and Karnataka cut petrol and diesel prices.
• Govt approves ₹4,500-crore package to sugar industry; to provide transport subsidy to mills for export.
• Cabinet clears new telecom policy to attract $100 billion investments, create 4 million jobs by 2022.
• Govt raises import duties on 19 major items to curtail widening current account deficit.
• Finance Ministry relaxes norms for import of exported electronic goods for repairs.
• Government raises ethanol price for blending in petrol by 25%.
• RBI eases cash requirement rules for banks, assures of liquidity support.
• SEBI defers Oct 1 deadline for extension of trading hours; caps Mutual Fund expense ratio at 2%.
• NSE ties up with London stock exchange for dual listing of masala, foreign currency bonds.
• Over-optimistic bankers, growth slowdown responsible for NPAs: Former RBI Guv Raghuram Rajanx.
• Council forms 7-member panel to find model for funding disaster relief.
• RBI cuts short Rana Kapoor’s term as Yes Bank CEO & MD to Jan 2019, stock price sinks 40% in a week.
• Bank of India invites bids for stake sale in 3 associate companies.
• Govt begins consolidation of regional rural banks, to bring down tally to 36.
• IndusInd Bank gets all regulatory approvals to acquire IL&FS Securities Services.
• India Post Payments Bank enters bancassurance tie-up with Bajaj Allianz Life Insurance.
• Kerala floods: Cochin airport files insurance claims worth ₹3.4 billion.
• Paytm Money enters mutual funds domain with SIPs starting at ₹100 with 8,50,000 users.
• Debt mutual funds see redemptions of ₹6,800 crores in August on weak rupee, rise in oil prices.
• RBI begins special audit of IL&FS after delay in repayment of inter-corporate deposits.
• TCS becomes 2nd firm to hit ₹8 lakh crore market capitalisation mark.
• Amazon becomes second US company to hit $1 trillion in market cap.
• Cisco signs pact with BSNL and Niti Aayog to boost technology.
• GDP growth accelerates to over 2-year high of 8.2% in Q1.
• India Manufacturing Purchasing Managers’ Index slows down to 51.7 in August from 52.3 in July.
• August WPI eases to 4-month low at 4.53% from 5.09% in July and 3.24% in August’17.
• India’s exports grew by 19.21% to $27.84 billion, imports up by 25.41% in August; trade deficit at $17.4 billion.
• Iraq replaces Saudi Arabia as India’s top oil supplier in August.
• US Federal Reserve raises interest rates by 25 bps, sees at least three more years of growth.
• US – China trade war escalates with tariff impositions from both sides.
• WTO cuts world merchandise trade forecasts for 2018 to 3.9% from 4.4% and 2019 to 3.7% from 4%.
• China’s August trade surplus with US widens to record $31 billion.
• Passenger sales decline 2.46% in August, car sales down 1%, commercial vehicles up 29.56%: SIAM.
• Traders launched 90-day rath yatra protesting retail FDI and Walmart-Flipkart deal.
• Infosys directed to pay Rajiv Bansal an outstanding severance of ₹12.17 crores plus interest.
• Wipro bags over $1.5 billion deal from US-based Alight Solutions.
• BSNL signs deal with Softbank, NTT to roll out 5G, IoT service.
• Reliance Jio adds more than 1 crore users, Airtel 3.1 lakh subscribers while Idea sees a big decline.
• Suzuki exits China after dissolving tie-up with Changan Automobile.
• Renault Nissan Mitsubishi Alliance signs in-car tech deal with Google.
• Air India gets ₹2100 crore govt guaranteed borrowing.
• Reliance Infra wins ₹200-crores arbitration against NHAI.
• Tata Steel signs a definitive agreement to acquire Usha Martin.
• Netflix partners Hathway Broadband in India; Tata Elxsi extends pact with Airtel Digital TV.
• Aurobindo Pharma buys parts of Sandoz US from Novartis for $900 million.
• Manipal Group, TTK Group to jointly hold 51% stake in CignaTTK Health Insurance.
• Life Healthcare sells entire 49.7% stake in Max Healthcare for $293 million.
• Godrej Consumer Products Ltd sells its UK business to JZ International for over ₹310 crores.
• Facebook’s Sheryl Sandberg, Twitter’s Jack Dorsey testify before US Congress.
• Ola founders seek CCI nod for hiking stake in cab aggregator.
• Zomato delists hundreds of FSSAI non-compliant restaurants.
• Visa, Mastercard reach $6.2 billion settlement over card-swipe fees.
• Samsung opens its biggest store worldwide in Bengaluru.
• Apple unveils iPhone XS, iPhone XS Max, iPhone XR ; discontinues iPhone – SE, 6s, 6s Plus, and X.
• E-commerce firms to collect 1% tax at source from October 1.
• Oyo raises a $1 billion from Softbank to fuel expansion plans, firm now valued at $5 billion.
• Anshula Kant appointed as MD of SBI; Prashant Kumar appointed as Deputy MD as CFO.
• Amitabh Chaudhry appointed CEO & MD of Axis Bank; HDFC LIFE appoints Vibha Padalkar as MD, CEO.
• Padmaja Chunduru assumes charge as Indian Bank’s managing director and CEO.
• Alibaba Group’s CEO Daniel Zhang to succeed Jack Ma as Chairman next year.
• WhatsApp appoints grievance officer for India.
• Elon Musk out as Tesla chair, remains CEO in $40 million SEC settlement.

General News

• Former Prime Minister of India, Atal Bihari Vajpayee dies at 93.
• DMK Chief and former Tamil Nadu CM M Karunanidhi dies at the age of 94. Madras HC allows burial
  site for Karunanidhi at Marina beach after TN govt rejects request.
• President Kovind gives assent to the Criminal Law (Amendment) Act and to Bill deterring economic
  offenders to flee the country.
• Cabinet approves provision of bail in instant triple talaq bill.
• Monsoon session: A total of 20 bills, including six financial bills, were passed in session this year.
• NDA candidate Harivansh Narayan Singh (JDU) elected as the deputy Chairperson of the Rajya Sabha.
• Indian will take national flag to space on board ‘Gaganyaan’ by 2022: PM in Independence Day speech.
• PM Modi attends the BIMSTEC Summit in Nepal.
• Sushma Swaraj was on 3-nations visit to Kazakhstan, Kyrgyzstan, and Uzbekistan; embarks on four-day
  visit to Vietnam, Cambodia.
• Nirmala Sitharaman holds delegation level talks with Japan Defence Minister Itsunori Onodera.
• India, China agree to draft new defence MoU, better military communication to avoid standoffs.
• Kerala floods: Centre releases ₹ 600 crores, CM seeks ₹2,600 crore special package; death toll at 445.
• UAE denies Rs 700 crore offer, BJP and Left trade charges.
• SC asks Tamil Nadu to keep Mullaperiyar dam water level at 139 ft till Aug 31 in view of Kerala floods.
• Karnataka floods: CM seeks ₹2000 crore assistance from Centre as 12 killed and over 5,000 displaced.
• MK Stalin elected DMK President unopposed at the party’s general council meeting held in Chennai.
• People not on the Assam NRC draft list can vote if they are on electoral rolls: EC.
• Article 35A: SC adjourns hearing to January 2019 as Centre, Jammu & Kashmir warn of unrest.
• CM Arvind Kejriwal, deputy Manish Sisodia, 11 AAP legislators charged for assault on Chief Secretary.
• Violence hits parts of Maharashtra on anniversary of Maratha quota agitation.
• Uttar Pradesh govt sanctions ₹150 crores for developing pilgrim centres.
• Haryana gets first civil airport at Hisar as Independence Day gift.
• Somnath Chatterjee, former Lok Sabha Speaker, dies at the age of 89. Former Rajya Sabha MP
  Nandamuri Harikrishna, dies in a road accident in Telangana’s Nalgonda.
• Aadhar challenge: Hackers deposit ₹1 in TRAI chairman R S Sharma’s bank account.
• UIDAI makes face recognition feature mandatory for Aadhaar authentication.
• Rahul Gandhi forms 6-member task force to ‘expose’ Rafale deal ahead of 2019 general elections.
• Rafale deal row: Anil Ambani files ₹5,000 crore defamation case against National Herald.
• No income generated from Young Indian-National Herald transaction: Sonia Gandhi to HC.
• Govt clears elevation of Justice KM Joseph to SC.
• 5 rights activists arrested for alleged maoist links to be kept under house arrest till next hearing: SC
• India formally hands over extradition request to authorities in Antigua and Barbuda for Mehul Choksi.
• CBI sends extradition request for Nirav Modi after UK confirms his presence.
• Vijay Mallya extradition case: CBI submits video footage of Mumbai’s Arthur Road jail to UK court.
• Defence Acquisition Council approves procurement of defence platforms worth ₹46,000 crores, gives
  approval for buying 111 Helicopters for Navy at ₹21,000 crores.
• Govt sets up two task force for making aircraft, Unmanned Aerial Vehicles.
• Centre spends over ₹72.7 crore for indigenous defence products in 2017-18.
• NASA’s Parker Solar Probe blasts off on epic journey to ‘Touch the Sun’.
• Sunita Williams among 9 astronauts named by NASA for its first human spaceflight.
• US Congress passes bill to slash Pakistan’s defence aid to $150 million.
• US waives sanctions against India for buying Russian arms.
• NAFTA: Trump announces US-Mexico trade deal; US and Canada aim to finalise trilateral deal.
• Donald Trump cancels Mike Pompeo’s North Korea trip, citing lack of progress.
• John McCain, US Senator and former Presidential candidate, dies at 81.
• Imran Khan sworn in as Pakistan’s 22nd Prime Minister.
• Scott Morrison replaces Malcolm Turnbull as Australia’s new Prime Minister.
• Emmerson Mnangagwa former ally of Mugabe narrowly wins Zimbabwe Presidential poll.
• Kofi Annan, former Secretary-General of the UN, dies at 80.
• Italy bridge collapse: Genoa death toll rises to 43, govt declares year-long state of emergency.
• Asian Games 2018: India at 8th position with a total of 65 medals — 13 gold, 23 silver and 29 bronze.
• India vs England: India trails the 5-Test match series 2-1.
• SC modifies ‘one state, one vote’ policy of BCCI; approves cricket board draft constitution.
• Former Indian cricket team captain and coach Ajit Wadekar dies aged 77.
• Cincinnati Open: Djokovic beats 7-time winner Federer; Kiki Bertens stuns Simona Halep to win title.

Business News

• 29th GST Meet: Council forms Group of Ministers headed by MoS Finance to look into MSME issues;
  cashback incentives for digital payments to be rolled out on a pilot basis.
• Parliament passes Insolvency & Bankruptcy Code (Second Amendment) Bill,2018.
• Govt, EESL, World Bank sign $300 million pact to boost energy efficiency programme in India.
• Centre approves Digilocker; soft copies of Driving license, Registration now legal.
• Govt earmarks ₹1,000 crores for MSME sector in Northeast.
• Cabinet approves 2% hike in DA for central govt employees.
• RBI raises repo rate by 25 bps to 6.5%, reverse repo rate rises to 6.25%, holds neutral stance.
• Fed leaves interest rate unchanged, says economy growing at strong pace.
• RBI unveils UPI 2.0 version, allow customers to use overdraft limit for making payments to merchants.
• Processing of old 500, 1000 rupees notes complete, 99.3% notes returned: RBI Annual report.
• Rupee breaches 71/$ mark for the first time ever from rising crude oil price.
• Oil rises on Iran sanctions, lower US fuel inventories.
• NCLAT declines stay on Tata Sons’ conversion to pvt co; says Cyrus Mistry can’t be forced to sell stake.
• Cabinet approves purchase of 51% stake in IDBI by LIC.
• No ATM to be replenished with cash after 9 pm from next year: Home Ministry.
• NSE unveils new logo to mark its entry into 25th year of existence.
• BSE market cap hits record high as Sensex scales new peak; RIL hits market cap of ₹8 lakh crores.
• HDFC AMC, CreditAccess Grameen, Amaravati Bonds 2018 listed in the exchanges.
• China dethroned by Japan as world’s second-biggest stock market amid trade war with US.
• PNB case: Govt sacks ex MD Usha Ananthasubramanian, allows prosecution; granted bail by CBI Court.
• RBI cancels licences of 368 NBFCs in first half of 2018.
• Bad loans of listed domestic banks dipped by ₹220 billion in Q1.
• Bharti AXA, Airtel Payments Bank team up to offer Pradhan Mantri Jeevan Jyoti Bima Yojana.
• Infosys opens new technology and innovation hub in North Carolina, hires 4,700 in the US.
• Tech Mahindra inks pact with Telangana for ‘Blockchain district’.
• DoT blacklists bank guarantees issued by Standard Chartered Bank.
• RComm and Ericsson reach $80 million settlement.
• RComm sells media convergence nodes for ₹2,000 crores and fiber assets for ₹3,000 crores to RJio.
• Australia bans China’s Huawei, ZTE from mobile network build over security fears.
• Ashok Leyland bags tender for defence tracked combat vehicles; makes foray into niche segment.
• Tesla to remain public, Elon Musk says, ending go-private effort.
• Passenger vehicle sales dip 2.71% to 2,90,960 units in July, car sales decline marginally: SIAM.
• Air India board meets; to receive ₹980 crore capital from govt for interest payments on NCDs.
• Jet Airways gets $300 million as lease incentives & debt from banks.
• SpiceJet flies India’s first biofuel flight, from Dehradun to Delhi.
• L&T Board approves share buyback of ₹ 9,000 crore at ₹1,500 apiece.
• RIL wins arbitration case against govt’s claim of illegal gas production; govt to move HC.
• Adani wins gas licences for 21 cities; BPCL bags 11 cities.
• Govt allows pet coke import for use as feedstock in cement & gasification industries.
• Saudi Arabia calls off both the domestic and international stock listing of state oil giant Aramco.
• CCI gives nod to Adani Wilmar’s acquisition of Ruchi Soya.
• PVR completes acquisition of 71.6% stake of South India based SPI Cinemas.
• Samsung partners with PVR to launch India’s first Onyx Cinema LED theatre.
• US tariffs on $16 billion worth of Chinese imports took effect, Beijing retaliates.
• Russian ruble drops to 21-month low as US imposes fresh sanctions on Moscow.
• Turkish lira hits new lows; govt drafts economic action plan; Qatar, Turkey ink currency swap deal.
• Saudi Arabia freezes Canada trade ties for urging activists’ release.
• Greece exits bailout programme after eight years.
• IKEA opens its first in India with a 4 lakh sqft showroom in Hyderabad.
• Walmart completes acquisition of Flipkart, pumps in $2 billion.
• Warren Buffett’s Berkshire Hathaway picks up ₹2,500 crore stake in Paytm.
• Ola launches its UK operations with ride-sharing offerings in South Wales, Greater Manchester.
• WhatsApp limits ‘forwards’ to 5 users to contain rumours; rejects India’s demand for message traceability.
• Exports rise 14% to $25.77 billion in July, trade deficit soared to a near 5 year high of $18.02 billion.
• Indian smartphone market grows 20% in Q2 2018, Xiaomi leads tally: International Data Corporation.
• Kumar Mangalam Birla, Y.C. Deveshwar appointed non-official directors in Air India.
• Govt appoints S Gurumurthy, Satish Marathe as part-time directors on RBI board.
• PNB MD Sunil Mehta becomes Indian Banking Association Chairman.
• Chanda Kochhar back on ICICI Securities’ board after Bank votes in her favour.
• Rana Kapoor to serve as Yes Bank MD & CEO till further notice from RBI.
• Cabinet approves appointment of RS Sharma as TRAI Chairman till September 2020.
• Indra K. Nooyi to end tenure as PepsiCo CEO; President Ramon Laguarta to take over.
• Infosys CFO MD Ranganatha resigns to pursue professional aspirations.
• Anil Ambani resigns as Director of Reliance Naval and Engineering.

Q1 Results

• SBI reports loss of ₹4,875.85 crores in Q1 as provisions double to ₹19,228 crores.
• IDBI bank reports Q1 net loss of ₹2,410 crores, provisions spiked over 157% to ₹5,236 crores.
• PNB reports Q1 net loss of ₹940 crores, GNPA reduced to 18.26%, NNPA fell to 10.58%.
• M&M Q1 profit grew 67% YoY to ₹1,257 crores, revenue rose 23% YoY to ₹13,551 crores.
• Sun Pharma Q1 profit stood at ₹983 crores, revenues rose 16.7% YoY to ₹7,423.9 crores.
• Lupin net profit slumps 43% to ₹202.8 crores in Q1, total income rose 3.6% to ₹4,040 crores.
• IOC Q1 profit jumps 50% to ₹6,831 crores on inventory gains, revenue rose to ₹1,49,747 crores.
• Coal India Q1 net profit surges 61% to ₹3,786 crores, revenue rose 17.96% to ₹24,260.87 crores.
• Jet Airways posts Q1 loss at ₹1,323 crores, total revenue up 5.2% to ₹6,257 crores, fuel expense up 53%.
• Britannia Q1 profit rises 19.4% YoY to ₹258.10 crores, revenue rises 12.4% to ₹2,544 crores.

General News

• Monsoon session: Govt comfortably wins against the no-confidence motion moved by TDP.
• Congress moves privilege motion against PM Modi, Nirmala Sitharaman on Rafale deal.
• Piyush Goyal moves the Insolvency and Bankruptcy Code (Second Amendment) bill in Lok Sabha.
• Samsung’s Noida plant: PM Modi, S Korean President Moon Jae launch world’s largest mobile factory.
• India, South Korea sign 11 agreements during President Moon Jae-in’s visit.
• PM Modi embarks on tour to Rwanda, Uganda and South Africa.
• BRICS summit: PM Modi reaffirms India’s commitment to multilateralism and international trade.
• Sushma Swaraj co-chairs joint commission meet with her Bahrain counterpart in Bahrain, sign MoUs.
• India, US to hold 2+2 dialogue on September 6 in New Delhi.
• India, Japan hold maritime affairs dialogue, discuss Indo-Pacific region and maritime security.
• Nirmala Sitharaman hands over “Made in India” high-power multi-fuel engines to Indian Army.
• Assam NRC final draft published with 2.9 crore names out of the total 3.29 crore applicants.
• Truckers call off their strike demanding reduction in diesel prices and toll fees after govt’s assurance.
• Doctors call nationwide 12-hour strike against new medical bill.
• Govt approves hike in MSP for 14 Kharif crops.
• Govt asks states to issue instructions to conduct inspection of all Missionaries of Charity homes.
• Srikrishna panel submits Draft Data Privacy Bill to government.
• 100 militants killed in six months, govt tells Rajya Sabha.
• Terror violence has dipped in J&K under Governor’s rule: Home Ministry Data.
• PDP vice-president, office-bearers submit resignations to Mehbooba Mufti.
• Delhi CM Arvind Kejriwal okays doorstep ration delivery, orders implementation.
• Tamil Nadu CM E Palaniswami releases water from Mettur dam; claims victory in Cauvery dispute.
• UP govt issues order to ban plastic cups, glass, polythene from July 15.
• Goa to impose heavy fine for drinking alcohol in public from August 15: CM Manohar Parrikar.
• India successfully test-fires BrahMos supersonic cruise missile in Odisha.
• ISRO passes first test to qualify for manned space mission.
• 537 dead in monsoon rains, floods in 6 states so far.
• Won’t revise ‘One Rank-One Pension’ Formula: Centre to SC.
• Can’t sell 2 & 4-wheelers from Sept 1 without mandatory 3rd party insurance for 2 and 5 years respectively: SC.
• SC slams Centre for ‘lethargy’ in protecting Taj Mahal. UP Govt files draft vision document before SC.
• BSNL telephone exchange case: Madras HC orders framing of charges against Maran brothers.
• India asks Antigua to detain Mehul Choksi after info of his presence on island.
• Vijay Mallya granted bail by UK Court in the extradition case.
• EC launches mobile app “cVIGIL” to enable citizens to report on violation of election code of Conduct.
• Public Affairs Index: Kerala tops in governance; Tamil Nadu, Telangana, Karnataka and Gujarat follows.
• WhatsApp limits message forwarding to five chats in India to counter mob lynching.
• IAF spent ₹29.41 crores to ferry currency notes post demonetisation: RTI reply.
• Trump holds his first summit meeting with Russian President Vladimir Putin in Helsinki, Finland.
• Russia did interfere in US election: Trump admits he misspoke when he failed to blame Russia.
• Trump administration misses deadline to reunite immigrant families with young children.
• US govt announces $12 billion in aid to farmers hurt by Trump’s trade war.
• N Korea hands over 55 cases of remains thought to be US war dead.
• Ex- Pakistan PM Nawaz Sharif, daughter Maryam sentenced to prison in the Avenfield properties case.
• Pakistan elections: Imran Khan wins 115 of the 269 seats, to take oath as Prime Minister on August 11.
• US President Trump visits UK amid mass protests; hails ties with UK despite Brexit criticism.
• Brexit secretary David Davis and Foreign Secretary Boris Johnson resign.
• Chinese President Xi Jinping discuss strengthening strategic bilateral ties with UAE leaders.
• Iran lodges complaint with ICJ against US over renewed sanctions.
• Thai cave rescue: All 12 boys and coach successfully rescued after being trapped for 18 days.
• Fierce heatwave hits Japan following historic floods.
• Recep Tayyip Erdogan sworn in as Turkey’s President with vast new powers.
• Former Malaysian PM Najib Razak arrested over his alleged role in Malaysia’s 1MDB scandal.
• Former South Korean President Park Geun-hye sentenced to 8 more years in jail for misusing funds.
• NASA prepares “Parker Solar Probe” to fly into Sun’s scorching atmosphere.
• Under-20 World Athletics: Hima Das scripts history, wins gold in 400m final.
• Dipa Karmakar grabs the gold medal in the vault event of FIG Artistic Gymnastics World Challenge Cup.
• India’s star javelin thrower Neeraj Chopra wins gold at Sotteville Athletics meet in France.
• Indian Olympic Association announces 524-member contingent for 2018 Asian Games.
• FIFA 2018: France ends 20-year itch, lifts second World Cup after defeating Croatia 4-2.
• Wimbledon 2018: Novak Djokovic wins fourth tittle, Angelique Kerber her maiden title.
• India vs England: India clinch T20I series 2-1 while England clinch the 3-match ODI series 2-1.
• Virat Kohli becomes fastest player to score 2000 T20I runs.

Business News

• GST Council’s 28th meet: Govt slashes GST on 100 mass use items.
• Income Tax refunds worth ₹70,000 crores issued, 99% claims processed as on June end: CBDT.
• PAN-Aadhaar linking deadline extended till March 31, 2019.
• Govt increases load carrying capacity of trucks.
• RBI to issue new ₹100 notes, earlier series to continue to be legal tender.
• Govt hikes threshold limit for tax department appeals in Tribunals, Courts.
• NSE signs post-trade technology and strategic partnership agreement with Nasdaq.
• Reliance Industries crosses the $100-billion market cap, joining the TCS in the elite club.
• SME IPOs garner ₹825 crores in April-June quarter.
• RBI issues licence to Bank of China to operate in India.
• Banks must to comply with 16 SWIFT security principles by December to avoid RBI action.
• SBI lays out action against Mallya, says recovered around ₹950 crore for the entire banking sector.
• ICICI Bank commissions external probe into whistleblower’s complaint about 31 loan accounts.
• SBI, PNB, Canara Bank and other PSBs to shut one-third of foreign branches.
• Federal Bank gets RBI nod to enter Bahrain, Kuwait, Singapore.
• LIC board approves acquisition of up to 51% stake in IDBI Bank.
• US – China trade war escalates as both countries exchange tariffs.
• US and EU agree to work towards lower trade barriers.
• Import of oil from Iran from November 4 will be sanctionable activity: Mike Pompeo.
• India reduces duties on 3142 imports from China, Asia Pacific nations.
• June total vehicle exports rises 32.6% to 3.94 lakh units YoY, car sales up by 34%: SIAM.
• Passenger vehicles export from India dips 7.37% to 1,67,161 units in Q1.
• Pharma companies pledge to freeze planned price hikes for rest of 2018 after meeting with Trump.
• Fortis accepts $584 million stake deal from Malaysia’s IHH Healthcare.
• BSNL starts first internet telephony service in India.
• Reliance launches Jio GigaFiber, Jiophone 2 among other services at AGM.
• Centre clears Vodafone-Idea merger to create India’s largest telecom firm.
• Google faces record $5-billion penalty by EU over Android antitrust violations.
• Facebook fined over ₹4 crores in UK for its role in Cambridge Analytica scandal.
• Big Twitter accounts see follower numbers drop after fake-user purge.
• Yahoo Messenger shuts down after 20 years, users redirected to Squirrel group chat app.
• Nearly 10 lakh traders hold nationwide protest Flipkart-Walmart deal.
• Paytm partners with SoftBank-Yahoo’s PayPay to enter Japan’s digital payments market.
• Paytm launches Forex services; offers 20 international currencies.
• Plastic ban impact: Coke, Pepsi, Bisleri start printing buyback value on PET bottles.
• Godrej exits baby care space, sells Snuggy to Nobel Hygiene.
• Johnson & Johnson to pay $4.7 billion damages in talc cancer case.
• NCLT dismisses Cyrus Mistry’s plea challenging his dismissal as Chairman of the Tata Sons.
• Vijay Mallya, Nirav Modi, Mehul Choksi summoned by PMLA court under new Fugitive Ordinance.
• UK court lets Indian banks search, seize Vijay Mallya’s properties.
• Ex-Spicejet owner Kalanithi Maran loses ₹1,323-crore arbitration against Spicejet.
• Arijit Basu takes charge as Managing Director of SBI.
• FPI outflow hits 10-year high at ₹48,000 crores in H1 2018.
• India beat France to become world’s 6th largest economy: World Bank report.
• Ease of doing business rankings: Andhra Pradesh retains top spot, Telangana slips to 2nd spot.

General News

• PM Modi meets Chinese President Xi Jinping on sidelines of SCO summit; Jinping accepts PM Modi’s invitation for informal summit in India in 2019.
• India Seychelles agree to work together on Assumption Island Project.
• Sushma Swaraj calls for joint action against money laundering, terrorist-financing at BRICS Foreign Ministers’ meeting.
• President Ram Nath Kovind embarks on 3-nation tour to Greece, Suriname and Cuba.
• Sushma Swaraj meets the top leadership of the European Union during her 4-nation Europe tour.
• US envoy to UN Nikki Haley visits India.
• Soul of India is pluralism, tolerance: Pranab Mukherjee at the valedictory function of RSS’s 3rd year officers’ training camp in Nagpur.
• PM Modi launches BJP’s 2019 Lok Sabha election campaign in Maghar, UP.
• Centre forms Cauvery Water Management authority to address water dispute.
• Govt to hire graduates aged 40 or more as joint secretary, issues public notice.
• J&K: Editor of Rising Kashmir, Shujaat Bukhari shot dead by unidentified men; Army jawan Aurangzeb abducted by terrorists killed.
• Centre announces end to Ramzan ceasefire in Jammu & Kashmir.
• Mehbooba Mufti resigns as J&K CM after BJP breaks alliance; President approves Governor’s rule.
• First-ever UN human rights report on Kashmir calls for international inquiry into multiple violations.
• Arvind Kejriwal goes on nine-day sit-in protest at LG’s office over IAS officers’ strike and approval of the ‘doorstep delivery ‘of ration.
• Delhi Vidhan Sabha accepts the resolution on full statehood to Delhi.
• Kumaraswamy inducts 15 Congress, 9 JD(S) members in Karnataka cabinet.
• Monsoon has been good, TN to get Cauvery water: HD Kumaraswamy; calls for all party meeting.
• Maharashtra plastic ban comes into effect; Tamil Nadu bans manufacture, use of plastic starting 2019.
• Chennai-Salem highway row: Aggressive land acquisition by TN govt snowballs into major controversy as protests escalate.
• International Yoga Day: Rajasthan sets world record with more than 1.05 lakh people performing.
• Amarnath yatra kicks off amid tight security but suspended owing to weather conditions.
• Farmers from 172 organisations went on a 10-day nation-wide strike.
• HRD Ministry’s move to scrap UGC evokes mixed response.
• India successfully test fires 5000 km range nuke capable Agni-V off Odisha coast.
• Supreme Court allows govt to provide reservation in promoting SC/ST employees.
• INX Media case: CBI moves SC against Karti Chidambaram’s bail; HC grants P Chidambaram protection from arrest till July 3.
• Vijay Mallya diverted over ₹3,700 crore bank loan funds to F1, IPL and private jet: ED chargesheet.
• Sushma Swaraj introduces Passport Seva App; downloaded a million times in two days.
• 8 states, 4 UTs sign MoUs with health ministry to implement Ayushman Bharat mission.
• Japan’s Shinzo Abe and Donald Trump meet ahead of the historic US-North Korea summit.
• Donald Trump meets with N Korea’s Kim Jong Un at Capella Hotel in Singapore’s Sentosa Island.
• Kim agrees with Trump to complete denuclearization in exchange for security guarantees.
• Sanctions on North Korea to remain till complete denuclearisation: Mike Pompeo.
• Trump withdraws endorsement of G7 joint statement; calls for Russia to be readmitted to the group.
• Putin meets Xi Jinping, says Russia’s cooperation with China has reached ‘unprecedented level’.
• Xi Jinping, Kim Jong Un hold talks; agrees to safeguard, consolidate and develop China-Korea relations.
• US Defense Secretary meets with Chinese President Xi Jinping in Beijing, amid tensions.
• Donald Trump to meet with Russian President Vladimir Putin in Helsinki, Finland, on July 16.
• Trump administration allows families to be detained together at the border; asks Pentagon to prepare 20,000 beds for immigrant children on military bases.
• US Supreme Court upholds Trump’s travel ban from certain countries.
• Britain’s upper house of Parliament rejects PM Theresa May’s Brexit Laws.
• Turkey’s Recep Tayyip Erdogan claims victory in Presidential election.
• Retd Justice Nasirul Mulk takes oath as Pakistan’s caretaker PM ahead of the July assembly elections.
• Saudi Arabia’s ban on women driving officially ends.
• FIFA 2018: Holder Germany eliminated from the tournament, last 16 teams to play for the Quarters.
• Afghanistan vs India: Afghanistan makes its Test debut; loses by an innings and 262 runs.
• Women’s Asia Cup T20 2018: Bangladesh creates history, defeat India in a last-ball thriller.
• India vs Ireland: Clinical India humiliate Ireland by 143 runs for biggest T20 win.
• ICC adds Nepal, Netherlands, Scotland and UAE to ODI Team Rankings.
• French Open 2018: Rafael Nadal wins the 11th title; Romanian Simona Halep wins Women’s singles.
• Novak Djokovic records 800th match win of his career at Fever-Tree Championships.
• Intercontinental Cup: India beat Kenya 2-0 to win title.

Business News

• • GST collection for May comes at ₹94,016 crores against average monthly collection of ₹89,885 crores.
  • Tax department clears ₹7,000 crore GST refunds of exporters.
  • President promulgates Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018; Home-buyers recognized as financial creditors.
  • Government kicks off its divestment drive for FY19 with the RITES IPO.
  • NITI Aayog releases National Strategy on AI; to focus on healthcare, agriculture, education, smart cities and infrastructure, smart mobility and transportation.
  • Centre constitutes group headed by Bharat Forge’s Baba Kalyani to study the SEZ policy.
  • PM Awas Yojana: Govt approves 33% increase in carpet area of houses under subsidy scheme.
  • Govt puts off Air India stake sale for now, to focus on improving operational efficiency.
  • Cabinet approves ₹8,000 crore package for sugar sector. • UP Cabinet clears Patanjali’s Rs 6,000-crore food park project in Noida.
  • AIIB clears $200 million infusion into National Infrastructure Investment Fund to aid infra growth.
  • Fiscal deficit for April-May reaches 55.3% of the budgeted target of FY19.
  • RBI hikes Repo Rate by 25 bps to 6.25%, reverse repo rate at 6.50%; projects inflation at 4.8 – 4.9% in H1 2018-19 and 4.7% in H2 2018-19.
  • US Federal Reserve raises key interest rate to 1.75-2%; China leaves rates unchanged.
  • Bank NPA ratio to hit 12%, may reach highest level since 2000: RBI report.
  • Punjab National Bank, Union Bank of India and Syndicate Bank to be put under RBI’s PCA.
  • 7 banks, including SBI, ICICI and IDBI, in process of selling NPAs worth ₹28,000 crores.
  • IDFC Bank, Capital First get RBI nod for merger.
  • Bharat Financial gets stock exchanges’ nod for merger with IndusInd Bank.
  • Mid-sized British bank CYBG acquires Virgin Money for $2.3 billion.
  • SEBI reduces time for announcement of IPO price band to 2 days; rewrites share buyback regulation.
  • Bharat-22 ETF’s second tranche subscribed 2.6 times, investors put in bids worth ₹15,436 crores.
  • NSE introduces additional surveillance measures on 60 firms undergoing insolvency process.
  • Rupee hits an all-time low, breaching the 69/$ mark for the 1st time.
  • Money stashed by Indians in Swiss banks swells by 50%; Piyush Goyal promises action. TCS board clears ₹16,000 crores share buyback at ₹2,100, 14% premium to current price.
  • Nokia signs 5-year global IT infrastructure deal with HCL Technologies.
  • DoT seeks ₹2,100 crores bank guarantee from Idea to clear Vodafone merger deal.
  • Airtel partners with telecom department to boost rural broadband penetration.
  • India, Europe Telecom regulators sign memorandum on preserving, promoting net neutrality rules.
  • Reliance Jio crosses 200 million user mark in less than 2 years.
  • Energy Efficiency Services ltd (EESL), Telangana partners to adopt E-mobility programme.
  • Suzuki India crosses 20 million cars production milestone since its inception in 1983.
  • Nissan stops development of future diesel powerplants globally.
  • Harley-Davidson shifts some manufacturing unit out of US to escape EU tariffs.
  • India, China aviation officials discuss increasing air connectivity.
  • Andhra Pradesh inks pacts with Singapore consortium to develop Amaravati.
  • Govt to restructure the National Pharmaceutical Pricing Authority to revamp drug price regulation.
  • OPEC agrees on output hike of 1 million barrels per day.
  • Abu Dhabi National Oil Company joins Saudi Aramco to take stake in $44 billion Ratanagiri refinery.
  • US imposes import duty on large diameter welded pipes from India & China; raises tariffs on steel and aluminium imports from key allies in Europe and North America.
  • Canada fires back at US with $12.6 billion counter tariffs on essentials.
  • US imposes 25% tariff on Chinese goods, China retaliates with additional tariffs on $50 billion worth of US goods.
  • India increases import duty on 30 US products. • China’s yuan hits fresh 5-month low as trade fight with U.S. intensifies.
  • Solar installations in India rises 34% to 3,269 mw in the first quarter of 2018.
  • AT&T completes acquisition of Time Warner after US govt allows it to close deal.
  • Yahoo Messenger to shut down on July 17, redirects users to group messaging app Squirrel.
  • Confederation of All India Traders files complaint with ED against Flipkart, alleges FDI norms violation.
  • Truecaller acquires Chillr, to roll out credit and financial services to Indian users.
  • Cleartrip announces acquisition of Saudi Arabia-based online travel aggregator ‘Flyin’.
  • BookMyShow forays into international event ticketing.
  • South Korea’s cryptocurrency exchange Bithumb loses $32 million in digital money heist.
  • Australia, New Zealand central banks shun “volatile“ digital currencies.
  • Bitcoin skids below $6,000, hits lowest level since November 2017.
  • General Electric dropped from Dow Index; replaced with Walgreens Boots Alliance.
  • Argentina gets first $15 billion from IMF to stabilise economy.
  • Bank of Maharashtra CEO, Executive Director held for role in ₹3,000 crore DSK Group default case.
  • CBI files chargesheet against A C Muthiah, others for ₹1.02 billion loss to Syndicate Bank.
  • India’s trade deficit widened to 4 month high of $14.62 billion in May as imports surged nearly 15%.
  • Indo-Thai bilateral trade to touch $11 billion in 2018; Thailand companies to invest around $3 billion by 2020.
  • PSB losses eat up Centre’s $13 billion infusion in FY18: Fitch Ratings.
  • Violence costs India’s GDP over $1 trillion on PPP basis, per person cost at ₹40,000: Report.
  • Mahesh Kumar Jain, MD & CEO of IDBI Bank, appointed as Dy Governor of RBI for a term of 3 years.
  • ICICI Bank’s Board names Sandeep Bakhshi as COO; Chanda Kochhar to go on indefinite leave; appoints former petroleum secretary GC Chaturvedi as non-executive part-time Chairman.
  • ICICI Prudential Life’s board appoints NS Kannan as MD and CEO.
  • YES Bank shareholders reappoint Rana Kapoor as Managing Director, CEO for 3 years.
  • General Motors names Dhivya Suryadevara as CFO.