Economy / Market Snapshot – June, 2021

General News

• India COVID tally touches 30.4 million, 335 million vaccine doses administered so far.
• Active cases account for 1.70% of total infections; recovery rate improves to 96.94%.
• Global Coronavirus caseload crosses 182.9 million; Brazil death toll surpasses 5.18 million.
• Centre begins next phase of nation wide COVID 19 vaccination drive to all above 18 years of age.
• Centre submits vaccination roadmap to SC, says entire population will get jabbed by the end of 2021
• •₹780 for Covishield , ₹1,410 for Covaxin and ₹1,145 for Sputnik V: Centre fixes rates at private centres.
• Many States and UTs announce more lockdown relaxations as virus cases continue to dip.
• PM Garib Kalyan Anna Yojana: Govt extends free foodgrains scheme till Nov for 80 crore beneficiaries.
• Rajnath Singh approves budgetary support of nearly ₹499 crore for innovations in defence sector.
• India, China discuss ‘early resolution’, agree to hold 12th military talks.
• India, Kuwait sign pact for cooperation on recruitment of Indian workers.
• India calls for open & inclusive order in Indo Pacific region: Rajnath Singh at ASEAN meet.
• India and Bhutan ink MoU for developing cooperation in area of environment.
• S Jaishankar attends G20 ministerial meetings in Italy.
• Thousands of farmers march against Farm laws, mark seven months of protests.
• 5 Ministers, including first woman in decades, take oath in Puducherry Cabinet.
• Amarnath Yatra cancelled for second consecutive year due to COVID 19 pandemic.
• Restoration of statehood, election among 5 demands raised during PM’s meet with J&K’s leaders.
• Tradition, technology India’s greatest strengths: PM Modi at Toycathon 2021.
• Anup Chandra Pandey, former UP Chief Secretary, appointed as new Election Commissioner.
• Aam Aadmi Party to contest all 182 seats in 2022 Gujarat assembly polls.
• Akali Dal announces alliance with BSP for Punjab Assembly elections 2022.
• BJP leader Mukul Roy, son Subhrangshu rejoin TMC in presence of Mamata Banerjee.
• Pashupati Kumar Paras elected unopposed as national president of LJP.
• CBSE submits Class 12 evaluation scheme before Supreme Court; says results by July 31.
• Flying Sikh Milkha Singh dies of COVID complications cremated with full state honours.
• BRICS Foreign Ministers agree on COVID 19 vaccine IPR waiver.
• EU, UK slap new sanctions on entities, individuals related to Myanmar military coup.
• NSAs of member countries pledge to unite against terrorism, radicalism at SCO meet, Tajikistan.
• G 7 summit ends with commitment on vaccines, climate change.
• US outlines plan to send 55 million vaccine doses globally; 16 million earmarked for Asia.
• Ex officer Derek Chauvin gets 22.5 years in prison for George Floyd’s death.
• Delta variant now reported in 85 countries globally, expected to become dominant lineage: WHO.
• WHO clears second Chinese COVID vaccine Sinovac for wider global use.
• More Australian cities under lockdown as COVID 19 Delta variant outbreak continues.
• Antonio Guterres re elected as UN Secretary General for 2nd five year term.
• Pakistan adopts ICJ ordinance allowing Kulbhushan Jadhav to appeal conviction.
• US to buy 500 million Pfizer COVID vaccines to share with 92 lower income countries, African union.
• USCIS reverses Trump era policy denying certain immigrant visa applications.
• US Russia summit: Joe Biden, Vladimir Putin discuss ambassadors, nuclear weapons, cybersecurity.
• US President Joe Biden meets Afghan President Ashraf Ghani, CEO Abdullah at White House.
• UK PM Boris Johnson delays COVID lockdown end by 4 more weeks to July 19.
• Hard line judiciary chief Ebrahim Raisi registers win in Iran’s presidential election.
• Myanmar military junta charges Aung San Suu Kyi with corruption.
• Naftali Bennett sworn in as Israel’s new Prime Minister, ending Netanyahu’s 12 year rule.
• Israel launches new airstrikes on Gaza in response to incendiary balloons.
• FATF keeps Pakistan on ‘Enhanced Follow up List’, asks it to work on terror financing measures.
• Three astronauts blast off for China’s new Tiangong Space Station.
• Asian Boxing Championships: India finishes 4 th with 2 Gold, 5 Silver and 8 Bronze.
• 108 Indian athletes across 17 sporting categories have so far qualified for Tokyo Olympics.
• French Open: Czech’s Barbora Krejcikova wins maiden title; Novak Djokovic wins 19th Grand Slam title.
• New Zealand beat India by 8 wickets to win inaugural ICC World Test Championship title.
• UEFA EURO 2020: Switzerland, Spain, Belgium, Italy, Czech, Denmark, Ukraine and England in quarterfinals.
• Sunil Chhetri overtakes Messi to become 2nd highest international goal scorer.
• Cristiano Ronaldo becomes joint top scorer in men’s international football.

Business News

• Nirmala Sitharaman announces ₹6.28 lakh crore stimulus package to boost COVID affected sectors.
• ₹23,220 crore earmarked for healthcare infrastructure; first five lakh tourist visas will be issued free of cost
• Measures include ₹1.1 lakh crore loan guarantee scheme and additional ₹1.5 lakh crore under ECLGS.
• Parliamentary panel directs Facebook, Google to comply with new IT rules, court orders.
• Govt extends ban on international passenger flights till July 31, air bubble pacts to continue.
• Government proposes stricter e commerce norms to tackle unfair trade practices.
• Govt announces ₹12,195 crore PLI Scheme for telecom & Networking equipment.
• Centre releases revenue deficit grant of ₹9,871 crore to 17 states.
• Govt asks ministries, departments to cut ‘controllable’ expenditure by 20%.
• Govt simplifies registration process for MSMEs, only need to furnish PAN and Aadhaar to register.
• MCA raises threshold turnover and borrowing limits in definition of small and medium companies.
• PAN Aadhaar linking deadline extended by 3 months to 30 September.
• Govt extends validity of fitness, registration, driving licence & all permits till Sep 30, 2021.
• Gold hallmarking becomes mandatory with several exemptions.
• RBI leaves key rates unchanged, cuts FY22 GDP growth to 9.5% from 10.5%.
• RBI opens liquidity window of ₹15,000 crore for contact intensive sectors.
• Shyam Metalics , Sona Comstar , Dodla Dairy make their market debuts.
• SEBI halts PNB Housing Finance’s ₹4,000 crore deal with Carlyle Group.
• Centrum BharatPe gets RBI nod to take over crisis ridden Punjab and Maharashtra Co operative Bank.
• SBI General Insurance enters into bancassurance tie up with IDFC First Bank.
• India receives $64 billion FDI in 2020, fifth largest recipient of inflows in world: UN.
• Income tax department launches new e filing portal www.incometax.gov.in.
• Eli Lilly gets DCGI emergency use approval for COVID 19 antibody cocktail drug.
• Subject Expert Committee approves Bharat Biotech’s Covaxin phase 3 efficacy data, 77.8% efficacy shown.
• Serum Institute seeks test licence from DCGI to manufacture COVID vaccine Sputnik V.
• Serum Institute starts production of Novavax’s COVID 19 vaccine Covovax.
• Dr Reddy’s announces commercial launch of anti Covid drug 2DG.
• Indian Institute of Chemical Technology, Lee Pharma signs agreement for production of 2 DG COVID drug.
• Sputnik V rollout: Dr Reddy’s partners with Manipal Hospitals, Aster DM Healthcare, Rockwell industries.
• ICMR approves Gujarat based global medtech company Meril’s self use Covid test kit COVIFIND.
• NCLT approves Piramal Group’s resolution plan for bankrupt financier DHFL.
• SEBI bans Franklin Templeton MF from launching new debt funds for 2 years, imposes ₹5 crore penalty.
• ED transfers assets worth ₹9,371 crore to PSU banks in Vijay Mallya, Nirav Modi, Mehul Choksi fraud case.
• Deadline extended for mandatory dual airbags for front seat passengers in existing car models to Dec 31.
• Gujarat gives ₹870 crore push to EV, charging infrastructure.
• Carmakers start to ramp up production as COVID 19 restrictions ease in states.
• Wipro collaborates with Germany’s FEV to open Innovation Lab for developing Software Defined Vehicles.
• Nissan India begins export of the Magnite to Nepal, Indonesia, and South Africa.
• Hyundai Motor buys US based robotics firm Boston Dynamics for $880 million.
• Yamuna International Airport secures ₹3,725 crore SBI financing to develop Noida International Airport.
• EU, US reach deal to end Boeing Airbus trade dispute after 17 years.
• NCLT approves resolution plan of Kalrock Capital and entrepreneur Murari Lal Jalan for Jet Airways revival.
• Reliance Jio and Google announce JioPhone Next ultra affordable 4G Phone and 5G partnership.
• Jio Platforms, Qualcomm join hands for local manufacturing of critical 5G equipment.
• Axiata, Telenor sign $16 billion deal to merge Malaysian telecoms units.
• Airtel announces partnership with Tata group for 5G network solutions.
• Nokia to receive Patent fees from Daimler, ending legal fight over Royalties for key technologies.
• Infosys wins digital technology integration contract from US Based Archrock.
• Virgin Atlantic partners with TCS to power recovery and transformation.
• US Treasury Secretary Janet Yellen holds virtual meeting with China’s Vice Premier.
• G7 nations’ Finance Ministers agree to commit to a global minimum tax of at least 15%.
• US suspends additional tariffs on India, Austria, Italy, Spain, Turkey and the UK in digital tax dispute.
• Australia and the United Kingdom announce post Brexit trade deal.
• China blocks cryptocurrency related social media accounts amid crackdown on Bitcoin trading, mining.
• World Bank rejects El Salvador request for help on bitcoin implementation.
• US blacklists 28 more Chinese firms to investors over ‘facilitating serious human rights abuses’.
• Bosch opens $1.2 billion chip plant in Germany, its biggest ever investment.
• PharmEasy acquires 66% stake in Thyrocare Tech, to make open offer to grab additional 26%.
• Tata Digital invests $75 million in Curefit ; buys a majority stake in digital health company
• IKEA enters Bengaluru, launches ecommerce and mobile shopping app.
• BharatPe acquires loyalty platform PAYBACK India.
• Google Pay launches cards tokenisation with SBI, IndusInd Bank & other banks in collaboration with Visa.
• Byju’s becomes India’s most valued startup at $16.5 billion with UBS, Blackstone funding.
• Grofers becomes a unicorn after Zomato reportedly invests $120 million.
• Samsung shifts display manufacturing unit From China to Noida.
• Hindustan Unilever sets up a new fully owned subsidiary Unilever India Ltd.
• TikTok , WeChat ban lifted, Biden signs new orders to shield US
• ZEE5 forays into the US market.
• Google announces ₹113 crore grant to set up 80 oxygen plants, upskill rural health workers in India.
• Global economy expected to expand 5.6% in 2021, India’s FY22 GDP seen at 8.3% : World Bank.
• Kerala retains top rank in ‘ Niti Aayog’s Sustainable Development Goals (SDG) India Index 2020 21.
• Amitabh Kant gets one year extension up to June 2022 as CEO Niti Aayog.
• Raghuram Rajan, Esther Duflo , Dr Arvind Subramanian among 5 named in Tamil Nadu Economic council.
• Microsoft names CEO Satya Nadella as Chairman.
• Guenter Butschek to step down as Tata Motors CEO & MD on June 30.
• Warren Buffett resigns from Gates Foundation board; donates $4.1 billion.

Q4 Results

• PNB posts ₹586 crore profit in Q4; NII jumps over 48% to ₹6,937 crore, GNPA lower at 14.12%.
• Ashok Leyland Q4 profit soars 550% to ₹377 crore, FY21 loss stands at ₹70 crore.
• ITC Q4 Net profit falls 1.3% YoY to ₹3,748 crore, revenue up nearly 25% at ₹13,294 crore.
• ONGC reports Q4 profit at ₹6,734 crore, realisation increases 18.4%, revenue decline 1% to ₹21,189 crore.
• IndiGo Q4 net loss expands to ₹1,147 crore, revenue dropped 25% to ₹6,222 crore.