Economy / Market Snapshot – DECEMBER, 2023

General News

• Parliament Winter session concludes a day early, both houses adjourn sine die.
• Lok Sabha passed a total of 18 bills, while 17 bills were passed in Rajya Sabha.
• President Droupadi Murmu gives assent to the three Criminal Code bills.
• Parliament passes Jammu and Kashmir Reservation and Reorganisation (Amendment) Bills.
• A total of 146 opposition MPs have been suspended from both houses of Parliament this winter session.
• 2 unidentified men jump from visitors’ gallery of Lok Sabha leading to commotion in House.
• Government ropes in CISF for security of Parliament complex.
• Lok Sabha expels Trinamool Congress MP Mahua Moitra from House for ‘unethical conduct’.
• Assembly elctions: BJP wins in 3 states & Congress wins Telangana.
• Zoram People’s Movement leader Lalduhoma sworn in as Mizoram Chief Minister.
• Revanth Reddy takes oath as Telangana CM, Bhatti Vikramarka his deputy.
• Bhajan Lal Sharma sworn in as Rajasthan CM; Diya Kumari, Prem Chand Bairwa as deputy CMs.
• BJP’s Vishnu Deo Sai takes oath as Chhattisgarh CM; Ujjain BJP MLA Mohan Yadav named MP CM.
• PM Modi holds talks with Kenyan President William Samoei Ruto and Sultan of Oman Haitham Bin Tarik.
• India to provide $250 million Line of Credit to Kenya for modernisation of its agri sector.
• India, Oman in talks for comprehensive economic partnership agreement.
• Ajit Doval participates in 6th NSA-level Meeting of Colombo Security Conclave in Port Louis, Mauritius.
• Jaishankar meets Russian President Vladimir Putin in Moscow.
• Jaishankar, Russian Deputy PM sign agreement on Kudankulam nuclear power project.
• PM Modi flags off Viksit Bharat Sankalp Yatra in 5 States, says focus will be on smaller cities
• PM Modi launches 37 projects worth Rs 19,000 crore during 2-day Varanasi visit.
• Amit Shah inaugurates and lays foundation stone of projects worth over ₹3,500 crore in Chandigarh.
• PM Modi to inaugurate 2nd Edition of Kashi Tamil Sangamam 2023 at Namo Ghat in Varanasi.
• Mamata, Kejriwal propose Kharge name as INDIA bloc’s PM face.
• Priyanka Gandhi relieved as UP General Secretary, Pilot gets Chhattisgarh.
• BSP chief Mayawati names nephew Akash Anand as her successor.
• Nitish Kumar takes over as JD(U) chief after Lalan Singh quits top party post.
• India approves procurement of 97 Tejas jets, 156 Prachand choppers in major defence deal.
• Defence ministry signs over ₹5,300 crore deal with Bharat Electronics Ltd.
• Stealth guided missile destroyer Imphal commissioned into Navy.
• Tanker ship off India coast hit by attack drone ‘fired from Iran’.
• ISRO moves Chandrayaan orbiter from Moon to Earth, eyes earth observation mission.
• French President Macron to grace Republic Day event in Delhi as chief guest.
• SC upholds Centre’s decision to abrogate Article 370 in J&K, calls for polls by September next year.
• ‘Varanasi court postpones to January 3 opening of ASI survey report on Gyanvapi complex.
• 8 Indian ex-Navy personnel get relief as Qatar reduces death sentence.
• ₹353 crore recovered from premises linked to Congress MP Dhiraj Sahu.
• 4 soldiers killed, 3 injured as terrorists ambush Indian Army vehicle in J&K.
• Cyclone Michaung makes landfall near Bapatla on Andhra coast after causing rain mayhem in Tamil Nadu.
• Centre extends ₹450 crore SDF fund to Tamil Nadu, sanctions ₹561 crore flood mitigation project.
• Michaung damages crops in over 6 lakh acres in Andhra; Centre announces ₹493 crore to the state.
• Heavy rains drown parts of southern Tamil Nadu leaving people in peril.
• Srivaikuntam receives 479 mm, the highest rainfall ever recorded in the plains of Tamil Nadu.
• National Medical Council changes logo, includes Ayurveda god Dhavantri
• Gujarat’s Garba dance enters UNESCO’s list of ‘intangible cultural heritage’.
• WHO urges nations to maintain strict surveillance and sequence sharing amid increasing Covid cases.
• COP28 Presidency unveils COP28 UAE Declaration on Climate, Relief, Recovery, and Peace.
• Heavy fighting across Gaza halts most aid delivery, leaves civilians with few places to seek safety.
• Biden administration approves emergency sale of nearly 14,000 rounds of tank ammunition to Israel.
• Israel parliament passes new wartime budget.
• UN approves resolution on aid to Gaza without call for suspension of hostilities.
• Putin orders Russian military to add 170,000 troops for a total of about 1.32 million.
• Vladimir Putin declares candidacy for country’s Presidential election scheduled for March.
• House approves impeachment inquiry into President Biden as Republicans rally behind investigation.
• US announces 10-nation coalition to combat Houthi attacks in Red Sea.
• Putin and Saudi Crown Prince Salman discuss further OPEC+ cooperation in whirlwind visit.
• Iraqis vote in first provincial elections in a decade.
• China, Vietnam sign 37 agreements as Xi visits for first time in 6 years.
• Malaysia bans Israeli-flagged ships from using its ports in response to Gaza war.
• China vows to keep up military pressure against the Philippines as territorial disputes grow tenser.
• South Korea launches its first spy satellite; tests solid-fuel rocket amid space race with North Korea.
• North Korea launches long-range ballistic missile toward waters between Korean Peninsula and Japan.
• China formally accords diplomatic recognition to Taliban govt in Afghanistan.
• Italy’s Giorgia Meloni’s bids adieu to China’s BRI initiative, dismisses economic impact.
• Turkey parliament committee approves Sweden’s NATO bid.
• 26 players incl chess player Vaishali & Shami up for Arjuna Award; Satwiksairaj, Chirag win Khel Ratna.
• Brij Bhushan Singh aide Sanjay Singh elected new President of WFI; Sakshi Malik quits wrestling.
• Sports Ministry suspends newly-elected WFI; IOA forms ad-hoc committee to oversee operations.
• New logo of ICC T20 World Cup revealed ahead of 2024 edition in West Indies, USA.
• MS Dhoni’s iconic number 7 jersey retired by BCCI, 2nd Indian after Sachin to be given this honour.
• India vs South Africa: T20 series tied at 1 – 1, India wins ODI series 2 – 1.
• Virat Kohli surpasses Rohit Sharma to take No. 1 spot in elite WTC list of Indian batters.
• Kohli makes 2,000 international runs in a year for 7th time, breaks Sangakkara’s record.
• India thrash England by 347 runs to register biggest win in women’s Test history.
• IPL Auction 2024: 10 teams splurge ₹230 crore on 72 players, Mitchell Starc hits ₹24.75 crore jackpot.
• WPL 2024 Auction: Annabel Sutherland and Kashvee Gautam go for highest bid of 2 crores.
• Leander Paes, Vijay Amritraj become first Asian men to be inducted in International Tennis Hall of Fame.
• Vaishali becomes India’s third female chess grandmaster, makes history with brother Praggnanandhaa.
• Candidates 2024: Gukesh D secures spot at prestigious event, becomes third Indian in 8-man field.
• Lionel Messi named Time’s Athlete of the Year for 2023.
• Olympic chiefs give green light for participation of Russian, Belarusian athletes as neutrals

Business News

• Presidential assent for Telecommunications, Post Office Bills.
• Parliament nod for an additional spending of ₹58,378 crore in FY24.
• PM Modi unveils Surat Diamond Bourse and Surat Airport’s international terminal.
• PM Modi inaugurates revamped Ayodhya Dham junction railway station and international airport.
• First Air India Express flight takes off from Ayodhya for Delhi.
• Deepfake concerns: Centre issues advisory to social media platforms to comply with IT rules.
• India to allot satellite internet airwaves without auction.
• National Financial Reporting Authority finds deficiencies in audit quality inspection of Big four firms.
• India extends duty-free import of tur, urad dal until March 2025.
• Maharashtra cabinet approves Casino restriction bill.
• Karnataka CM Siddaramaiah announces waiver of interest on crop loans at coop banks.
• Karnataka IT sector to come under the labour department’s ambit.
• World Bank approves $300 million program to boost urban water and sewerage systems in Tamil Nadu.
• Govt grants LIC one-time exemption from 25% public shareholding rule.
• RBI keeps repo rate unchanged at 6.5% for fifth time in row.
• UPI transaction limit for hospitals, educational institutions payments raised to ₹5 lakh.
• Bandhan Bank board OKs transfer of ₹776 crore worth NPAs to ARC.
• IndusInd Bank launches ‘eSvarna’, India’s first corporate credit card on RuPay network.
• RBI permits ICICI Pru Mutual Fund to acquire 9.95% stake in Federal Bank, RBL Bank.
• Razorpay, Cashfree receive final RBI nod to operate as payment aggregators.
• SEBI extends Dec 31 deadline for mutual fund and demat account nomination to to June 30, 2024.
• Flair Writing Industries, Inox India , Motisons Jewellers, Muthoot Microfin , Happy Forgings, Credo Brands, RBZ Jewellers, Azad Engineering list on exchanges.
• Kerala gives nod to Beypore-Kochi-Dubai cruise.
• NCLT admits Sahara group subsidiary into insolvency.
• HAL opens new design and test facility for the development of strategic engines.
• Air India’s 1st wide-body A350-900 aircraft lands in Delhi.
• Bengaluru’s Kempegowda Airport Terminal 2 named among ‘World’s Most Stunning Airports’.
• Tata Harrier and Safari duo receive 5-star rating in Bharat NCAP crash tests.
• JSW forms JV with SAIC Motor; picks 35% stake in MG Motor India.
• Suzuki Motor Gujarat crosses 30 lakh cumulative sales mark.
• Ford Motor Co. halts Tamil Nadu plant sale to JSW Group.
• Royal Enfield forays into pre-owned bike business with Reown.
• BPCL, Tata Motors subsidiary signs MoU to set up 7000 EV charging points by 2024.
• Ola Electric first e-scooter company to get PLI nod.
• Chinese carmaker BYD overtakes Tesla as world’s most popular EV maker.
• Anti-collision system Kavach deployed on 1465 Route km, 139 locomotives.
• Arunachal govt inks pact for ₹13,000 crore hydropower project in Lohit basin.
• HCL Tech bags 5-year contract from Sweden’s Husqvarna Group for digital transformation.
• China successfully launches test satellite for internet technologies.
• Microsoft-OpenAI partnership comes under US and UK antitrust scrutiny.
• Intel to get $3.2 billion government grant for new $25 billion Israel chip plant.
• Reliance Jio and IIT-Bombay set to build India’s ‘BharatGPT’ AI.
• EU countries, lawmakers reach deal on rules for ChatGPT, other systems.
• Biocon Biologics completes integration of Viatris’ biosimilar business in 120 countries.
• Lupin to acquire established products in Europe, Canada from Sanofi for ₹91 crore.
• Tata Coffee to merge with Tata Consumer Products Ltd.
• UltraTech Cement to buy Kesoram’s cement business in $645 million deal.
• HUDCO executes MoU with Gujarat govt for an investment of ₹14,500 crore.
• West Bengal passes Bill to impose 28% GST on online gaming, horse racing, casinos.
• Google Maps introduces landmark-based Address Descriptors in India.
• RIL pays ₹254 crore to Metro for using its brand name in India.
• Byju’s Finally Approves FY22 Results, Briefs Shareholders about future plans.
• Mahindra’s Anish Shah takes over as FICCI President.
• Kotak Mahindra Bank shareholders approve Vaswani’s appointment as MD & CEO.
• Hikal shareholders vote against continuation of Baba Kalyani as director.