Economy / Market Snapshot – January, 2018

General News

• India hosts 10 ASEAN leaders on its 69th Republic Day.
• Winter Session of Parliament concludes; productivity of Lok Sabha 91.58% and Rajya Sabha 56.29%.
• Assembly Elections: Tripura to go to polls on 18 February, Meghalaya and Nagaland on 27 February.
• Israel PM Benjamin Netanyahu makes a six day visit in India; India, Israel ink nine pacts.
• Govt earmarks Rs 10,132 crores for internal security in 3 years from 2017-18 till 2019-20.
• India attends its first Shanghai Cooperation Organisation (SCO) military cooperation meet.
• India joins the 42-member non-proliferation regime, Australia Group.
• India scuttles $500 million missile deal with Israel’s Rafael.
• India successfully launches its 100th satellite ‘Cartosat-2’ series from Sriharikota.
• India test-fires nuclear-capable intercontinental ballistic missile Agni-V from Abdul Kalam island.
• Govt announces recipients of 2018 Padma awards.
• Four SC judges hold unprecedented press conference questioning apex court administration.
• Judge Loya death: SC transfers to itself two cases from Bombay HC, sets Feb 2 for next hearing.
• Supreme Court makes playing of National Anthem optional in cinema halls.
• Rajiv Gandhi assassination: SC asks Centre to decide on Tamil Nadu’s proposal to release 7 convicts.
• Lalu Prasad Yadav convicted in two fodder scam cases.
• Coal scam: HC stays sentence, Rs 25 lakh fine on Madhu Koda.
• Centre withdraws Haj subsidy; SC asks Centre to file an affidavit on its withdrawal.
• Press bodies condemn UIDAI’s FIR against The Tribune, its reporter for exposing Aadhar data breach.
• ‘Padmavat’ releases after SC suspends ban in four states.
• Doctors went on nation-wide strike against the National Medical Commission Bill.
• President accepts EC recommendation to disqualify 20 AAP lawmakers for holding Office of Profit.
• Delhi LG Anil Baijal approves Kejriwal’s doorstep delivery of public services.
• Delhi and Japan sign friendship agreement to tackle air pollution.
• Tamil Nadu Assembly passes bill to raise salary of MLAs by nearly 100%.
• TN govt hikes fares of state-run, private buses after six years; partially reduces hike following protests.
• Tamil Nadu celebrated ‘jallikattu’ after a gap of three years.
• Kamal Haasan to announce party name, begin Tamil Nadu tour on February 21.
• Shiv Sena ends alliance with BJP; to go solo in Lok Sabha, Maharashtra polls in 2019.
• PM Modi lays the foundation stone of the Rs 43,129 crore refinery project in Barmer, Rajasthan.
• UP govt approves metro projects in Agra, Kanpur and Meerut worth Rs 470 billion.
• Assam publishes first draft of National Register of Citizens with 1.9 crore names.
• Anandiben Patel takes oath as Madhya Pradesh Governor.
• Om Prakash Rawat takes charge as the Chief Election Commissioner., Vijay Keshav Gokhale as Foreign
  Secretary and Sivan K as chairman of ISRO.
• Shah Rukh Khan receives Crystal award 2018 at WEF for his work towards acid attack survivors.
• US govt shuts down on first anniversary of Trump’s presidency; Senators reach deal to end shutdown.
• US lifts refugee ban on North Korea and 10 other ‘high risk’ Muslim nations.
• US suspends security aid to Pakistan over terror inaction.
• US moves ships, bombers toward Korea ahead of Olympics.
• Senate approves Jerome Powell to follow Yellen as Fed chair.
• Pakistan blacklists Hafiz Saeed’s JuD, warns against terror funding after Trump snub.
• Pakistani Taliban claims Prime Minister Benazir Bhutto’s assassination in new book.
• NASA launches 2 missions to explore nearest space.
• Myanmar, Bangladesh agree to repatriate Rohingya; refugees in Bangladesh protest the move.
• North and South Korea completes first official talks in 2 years.
• IOC, North and South Korea meet to finalise historic Olympic deal.
• Saudi Arabia begins screening films after decades-long ban lifted.
• India vs South Africa: India wins the series 2-1, retain ICC Test Championship mace.
• Eight franchises buy 169 players at VIVO IPL 2018 Player Auction.
• Saina Nehwal bags silver medal at Indonesia Masters.
• India to take on Australia in the final of the Under 19 cricket World Cup.
• Ashes: Australia wins the series 4-0.
• Australian Open: Roger Federer wins men’s title and Caroline Wozniacki the women’s; Bopanna-Babos
  pair ends runner-up in mixed doubles.

Business News

• Govt announces fresh capital for PSU banks; infuses more than Rs 80,000 crores; unveils reforms.
• Economic Survey 2018: GDP growth to reach 6.75% this fiscal and will rise to 7- 7.5% in 2018-19.
• Govt revises rates on 29 goods and 53 services in its 25th GST Council meet.
• GST Revenue collections for December (upto Jan 24) comes at Rs 86,703 crores.
• Govt mulls increasing FDI limit in banks.
• Cabinet approves 100% FDI in single brand retail, construction development through automatic route.
• UIDAI allows face recognition as new means of Aadhaar authentication.
• Govt cuts its additional market borrowing requirement to Rs 20,000 crores from Rs 50,000 crores.
• November IIP grows at 8.4%; December CPI inflation comes at 5.2%.
• WPI inflation eases to 3.58% in December from 3.93% in November 2017.
• Major stock markets – Indian, US, Japanese hit their highest levels.
• PM Modi delivers keynote speech at World Economic Forum in Davos.
• World Economic Forum launches Global Centre for Cybersecurity, to start operations in March.
• West Bengal CM Mamata Banerjee inaugurates the two-day Bengal Global Business Summit 2018, gets
  over Rs 2 lakh crores of investment proposals.
• RBI gives a makeover to Rs 10 note with chocolate brown shade.
• 1,463 bad loan accounts owe PSU banks more than Rs 100 crore or more.
• IDFC Bank, Capital First boards approve merger, V Vaidyanathan to become CMD of merged entity.
• Tokyo-based cryptocurrency exchange hacked, losing $530 million.
• PNB sells mutual fund stake to JV partner Principal Financial Group.
• Air India stake sale: Govt allows 49% foreign ownership in national carrier.
• UDAN-2: Kargil among 325 new air routes announced; SpiceJet, Indigo to offer helicopter services.
• Railways sets Dec 2018 as target to link locomotives via ISRO satellites.
• NHAI constructs 1,600 km of new highways till November; pace touches 7 km/day.
• Govt approves Rs 5,369-crore waterway project on National Waterway-1 (NW-1).
• Mercedes-Benz India becomes first manufacturer to launch BS-VI compatible car in India.
• Nissan, NASA to collaborate on research into future autonomous vehicles.
• Volkswagen reports record global 6.2 million car sales in 2017.
• Apollo Tyres signs MoU with Govt of Andhra Pradesh to set-up a manufacturing unit.
• TRAI issues interconnectivity rules, fixes 30-day deadline for entering agreements.
• Tata Group pays back Rs 17,000 crore of teleservices debt to banks.
• Saudi Arabia and UAE introduce 5% VAT in bid to narrow deficits.
• Pakistan central bank approves Chinese yuan for bilateral trade, investment activities with China.
• Salil Parekh takes over as Infosys CEO and MD.
• TCS launches new digital subscription platform on Microsoft Azure.
• Intel, AMD announce 8th-generation processor with Radeon Graphics.
• Global 3D experience major Dassault Systèmes signs MoU with Andhra govt.
• Qualcomm signs $2 billion sales MOUs with Lenovo, Xiaomi, Vivo and Oppo.
• Microsoft introduces AI to enhance translation in Hindi, Bengali, Tamil.
• Indian pharma companies get record 300 USFDA generic drug nods in 2017.
• SRL becomes first diagnostics firm to record Rs 10 billion in revenue.
• Brent hits $71 for 1st time since 2014.
• ONGC gets govt nod to sell stake in Indian Oil, GAIL to fund Rs 36,915 crore HPCL buyout.
• US slaps ‘America First’ duties on foreign solar goods, washing machines.
• Canada and 10 other countries agree to new Trans-Pacific trade pact, without the US.
• Future Group acquires Snapdeal’s logistics arm Vulcan Express for about Rs 50 crores.
• Patanjali enters into an agreement with e-commerce Websites.
• Nestle sells its US confectionery business to Italy’s Ferrero for $2.8 billion.
• WhatsApp launches ‘WhatsApp Business app’ for SMEs.
• Xiaomi partners with Smartbox to offer deliveries through automated parcel terminals across India.
• Samsung pips Intel to become top semiconductor player globally.
• Xiaomi outpaces Samsung to become top smartphone seller in India in Q4 2017.
• India ranks 2nd only to South Africa as the cheapest country to live or retire: GoBankingRates Survey

Q3 Results

• ICICI Bank reports 32.42% fall in Q3 net profit at Rs 1,650.24 crores, reports 10% growth in loan book.
• HDFC Bank Q3 net profit jumps 20% to Rs 4,642.6 crores, GNPA stood at 1.29%, NNPA eases to 0.44%.
• Axis Bank reports 25% jump in Q3 profit at Rs 726 crores; GNPA declines to 5.28%.
• Kotak Mahindra Bank’s Q3 consolidated net profit up at Rs 1,624.24 crores, GNPA eases to 2.01%.
• Yes Bank Q3 profit rises 22% to Rs 1,076.87 crores, asset quality improves, gross NPA at 1.72%.
• IDBI Bank Q3 net loss narrows to Rs 1,524 crores, GNPA stood at 24.72%.
• Federal Bank Q3 net rises 26.1% to Rs 260.01 crores, NNPA stood at 1.36%, GNPA declines to 2.52%.
• Vijaya Bank reports 65.45% decline in net profit at Rs 79.56 crores.
• TCS reported Q3 Net profit at ₹ 6,531 crore up 1.3%, Revenue at ₹ 30,904 crore up 3.9% YoY.
• IndusInd Bank reported Q3 Net profit at ₹ 936.2 crore up 24.7%,NII increased 20% to ₹ 1,895 crore.
• HDFC Q3 profit jumps 233.3% to Rs 5,670.2 crores on stake sale in life insurance business.
• Infosys Q3 profit jumps 38% to Rs 5,129 crores; maintains FY18 revenue, EBIT margin guidance.
• HCL Tech profit ups 0.3% to Rs 2,194 crores, revenue up 3% to Rs 12,808 crores, dollar revenue up 3.1%.
• Wipro’s Q3 profit drops 11.85% to Rs 1,930 crores, revenue up 1.83% YoY to Rs 13,669 crores.
• Tech Mahindra Q3 profit grew by 12.8% to Rs 943 crores, revenue rises 2.2% to Rs 7,776 crores.
• HUL Q3 profit jumps 28% YoY to Rs 1,326 crore, volume growth comes at 11%.
• ITC net profit rises 16.75% to Rs 3,090.20 crores, total income declined 35.86% to Rs 10,579.11 crores.
• L&T reports 53% jump in Q3 profit at Rs 1,490 crores, wins Rs 48,130 crore orders during the quarter.
• UltraTech Cement Q3 profit falls 2% to Rs 422 crores QoQ, domestic sales volume increase 37% YoY.
• Airtel’s Q3 net profit drops 11% to Rs 306 crores, revenue declined 6.7% to Rs 20,320 crores.
• Idea Cellular Q3 net loss widens to RS 1,284 crores; revenue stood at Rs 6,510 crores.
• United Spirits Q3 net profit slips 8.8% to Rs 134.7 crores, revenue declines 7.8% to Rs 2,263 crores.
• Maruti Suzuki Q3 profit up 3% to Rs 1,799 crores, revenue grew by 14.2% to Rs 19,283 crores.
• TVS Motor reports 16.3% jump in Q3 net profit at Rs 154.35 crores, revenue rises 23.5%.
• Biocon’s Q3 net profit drops 46% to Rs 92 crores, net sales rose 1.3% to Rs 1,057.9 crores.
• Dr Reddy’s Labs Q3 net profit drops 28.86% to Rs 334 crores, revenue rises 7% to Rs 3,806 crores.
• IOC Q3 net profit jumps 97.3% to Rs 7,883.32 crores, approves bonus issue 1:1.