Economy / Market Snapshot – March, 2021

General News

• Second phase COVID-19 vaccination drive begins for people over 60 & above 45 years with co-morbidities.
• Centre asks States, UTs to increase gap between two doses of Covishield vaccine between 4 & 8 weeks.
• PM Modi chairs high-level meeting with all CMs of States & UTs over surge in COVID-19 cases.
• India COVID tally reaches 12.20 million with over 244 million tests done; recovery rate stands at 93.88% .
• Global COVID-19 caseload tops 129 million, death toll surge to 2.82 million.
• Over 6.30 crore doses of corona vaccine have been administered in the country
• President gives assent to bill giving more powers to Delhi Lieutenant Governor.
• More than 67.5 lakh people brought back from around the world under Vande Bharat Mission.
• India supplies over 5.86 crore doses of Made in India COVID vaccines to nearly 71 countries.
• Assembly elections 2021, 1st Phase: 2.14% voter turnout recorded in Assam and 79.79% in Bengal.
• Campaigning for 2nd phase polling in West Bengal, Assam ends today; polling on April 1.
• Election Commission cuts notice period for new political parties from 30 days to 7 days.
• Suvendu Adhikari to contest Bengal election from Nandigram seat against Mamata Banerjee.
• Ex-BJP leader Yashwant Sinha joins Trinamool Congress, appointed as party’s Vice President.
• Congress’s PC Chacko quits party ahead of Kerala polls, joins NCP.
• V K Sasikala quits politics ahead of Assembly elections in Tamil Nadu.
• CM Manohar Lal Khattar’s govt wins trust vote in Haryana assembly comfortably.
• Uttarakhand CM Trivendra Singh Rawat resigns; BJP MP Tirath Rawat named new CM.
• Quad Meet: Australia, India, Japan and the US stress for a free, open and rule-based Indo-Pacific region.
• India, Sweden hold virtual summit, agree to strengthen bilateral cooperation on digitalization, startups.
• India, Nigeria resolve to step up cooperation in combating terrorism.
• PM Modi virtually inaugurates ‘Maitri Setu’ connecting India-Bangladesh.
• India, Bangladesh ink 5 agreements; agree to expand cooperation across entire gamut of water resources.
• US Defence Secretary Austin visits India; meets PM Modi, Rajanth Singh and NSA Ajit Doval.
• US Defense Chief Lloyd Austin meets Afghan President in Kabul as troop withdrawal deadline nears.
• Govt constitutes 259-member panel headed by PM to commemorate 75 years of India’s independence.
• Digitisation of 4.50 crore pages of Records & Exhibition on Mahatma Gandhi inaugurated.
• World Water Day: PM Modi virtually launches Jal Shakti Abhiyan : Catch the Rain campaign.
• Delhi gets its own education board as government registers Delhi Board of School Education (DBSE).
• Govt signs ₹1,188 crores deal with Bharat Dynamics to acquire 4,960 Milan-2T missiles.
• After 23 years, Indian Navy deploys women officers on warships.
• INS Karanj, third Scorpene-Class Submarine, commissioned into Indian Navy.
• India to buy 30 US Predator drones for $3 billion to counter China, Pakistan.
• ISRO launches DRDO’s satellite ‘Sindhu Netra’ to monitor activities in Indian Ocean.
• ISRO develops radar for joint earth observation satellite mission with NASA.
• China approves building dam on Brahmaputra in Tibet, near Arunachal Pradesh border.
• WHO experts report says it has ‘not yet’ found source of coronavirus; calls for further studies.
• EU states resume AstraZeneca vaccine after EU drug regulator declares shot safe for use.
• US President Biden outlines plan to get US ‘closer to normal’ by July 4.
• French PM announces month-long limited COVID-19 lockdown for Paris, other regions.
• Germany extends lockdown until April 18 as COVID-19 cases continue to rise.
• Australia extends international border closure till June in view of COVID crisis.
• China relaxes its border for foreigners inoculated with Chinese vaccines.
• Russia, Iran tried to meddle in 2020 Presidential elections: US intelligence report.
• Pentagon approves extending Guard deployment at US Capitol for 2 more months.
• US President Biden signs $1.9 trillion stimulus bill into law on US lockdown anniversary.
• US House passes pair of immigration bills amid influx of migrants crossing US-Mexico border.
• Myanmar coup: Dozens killed as army opens fire on protesters during deadliest day.
• Suez Canal reopens after Ever Given cargo ship successfully refloated.
• Pope Francis visits regions of Iraq once held by Islamic State.
• NASA’s Perseverance rover performs first test drive on Mars.
• IND vs ENG: India managed to win all the series — Test 3-1, ODI 3-2, T20 2-1.
• IPL 2021 to take place from 9 April to 30 May; six Indian cities to host all matches.
• Kieron Pollard becomes third batsman to hit six 6s in an over in international cricket.
• Aaron Finch becomes first Australia batsman to hit 100 Sixes in T20Is.
• Mithali Raj becomes first Indian woman to score 10,000 international runs, second overall.
• Yuzvendra Chahal leapfrogs Jasprit Bumrah, becomes India’s highest wicket-taker in T20Is.
• India’s Mithali Raj has become the first women’s cricketer in history to reach 7000 ODI runs.
• Virat Kohli becomes first batsman to complete 3000 runs in T20I cricket.
• Puma signs three-year sponsorship deal with Royal Challengers Bangalore.
• Sony Pictures Networks signs multi-year agreement to broadcast Ultimate Kho Kho.
• Novak Djokovic sets a new landmark of 311 weeks as world number one, surpassing Roger Federer.

Business News

• Govt releases 12th and final monthly instalment of revenue deficit grant of ₹6,194.09 crore to the states.
• Cabinet clears bill for new Development Finance Institution.
• President Kovind Approves Bill to Set up National Bank for Financing Infrastructure and Development.
• Adityanath, Hardeep Singh flagged off Gorakhpur-Lucknow flight service under RCS-UDAN scheme.
• Rajya Sabha passes Insurance Amendment Bill, 2021; FDI limit increased to 74% from 49%.
• Govt constitutes empowered committee headed by Commerce Minister for high-tech manufacturing.
• Waiver on registration fee, 25% rebate on road tax: Gadkari announces vehicle scrappage policy.
• Govt to levy fine of up to ₹1 crore on auto firms on mandatory vehicle recalls.
• Govt makes passenger side airbag mandatory in new cars from April 1.
• Govt to provide all-India tourist permit to operators in 30 days of online application submission.
• Govt increases lower fare band for flights by 5% on ATF price hike, extends cap on 80% capacity.
• DGCA issues circular for airports, warns passengers to wear masks properly inside aircraft.
• Adityanath, Hardeep Singh flagged off Gorakhpur-Lucknow flight service under RCS-UDAN scheme.
• Govt approves 33 API applications with over ₹5,000 crore committed investment under PLI scheme.
• NITI Aayog submits first list of about 12 PSUs for privatisation.
• BIS license is must for packaged drinking water companies from April 1: FSSAI.
• Easy Trip Planners’ , Kalyan Jewellers, Craftsman Automation, Laxmi Organic Industries’, MTAR Technologies,
  Nazara Technologies, Suryoday Small Finance Bank, Barbeque Nation Hospitality debut in stock market.
• RBI asks banks to implement image-based Cheque Truncation System in all branches by Sep 30.
• No compound, penal interest be charged from borrowers during loan moratorium period: SC.
• Govt amends rules to bring insurance brokers within ombudsman ambit.
• India to manufacture Johnson & Johnson’s COVID-19 vaccine as part of Quad initiative.
• Govt signs fresh purchase agreement with Bharat Biotech for 2 crore doses of Covaxin.
• National Pharmaceutical Pricing Authority (NPPA) brings more than 80 medicines under Price Regulation.
• US to provide financial assistance to Indian vaccine manufacturer Biological E.
• Russia reaches deal with Virchow Biotech to make Sputnik V in India.
• Gland Pharma inks pact to supply 252 million doses of Sputnik V COVID-19 vaccine.
• Moderna, AstraZeneca, Pfizer conduct COVID vaccine trials on children.
• Spectrum auction ends with ₹77,815 crore bids; Reliance Jio top buyer with ₹57,122 crore.
• DoT demands ₹21,919 crore as upfront payment for spectrum from telecom companies.
• SC sets aside NCLAT order restoring Cyrus Mistry as executive chairman of Tata Group.
• Future-RIL deal: Delhi HC halts ₹24,713 crore acquisition; orders attachment of Biyani’s assets.
• India and US agree to revamp India-US Strategic Energy Partnership (SEP).
• US suspends trade deal with Myanmar in aftermath of military coup.
• Bank Of Japan maintains short-term interest rate target at -0.1%.
• UK’s Rishi Sunak hikes corporation tax to 25% , extends job support system until September.
• China sets economic growth target ‘above 6%’ for 2021, defense budget hiked by 6.8% to $209 billion.
• Inflation-stricken Venezuela rolls out new, larger-denomination banknotes.
• Turkish lira falls 16% after President Erdogan sacks central bank chief.
• Sri Lanka signs three-year $1.5 billion currency swap deal with China.
• Infosys announces expansion in Canada, double workforce to 4,000 by 2023.
• HCL Tech opens digital acceleration centre in Canada.
• Tata Consultancy expands strategic partnership with Vodafone Netherlands.
• Tech Mahindra acquires 70% stake in Perigord to augment pharma expertise for €21million.
• OPEC+ decides to extend current production cuts till April; allows Russia, Kazakhstan to raise output.
• Saudi cuts April crude for some Asian refiners, maintains India supply.
• Indian Oil Corporation enters into joint venture with Israeli firm Phinergy.
• Mahindra receives clearance from RBI to reduce stake in SsangYong Motor.
• Jaguar Land Rover to write down £1.5 billion as part of restructuring.
• Piaggio, KTM, Honda, Yamaha sign swappable batteries agreement to increase range and lower cost.
• Boeing unveils new executive performance metrics tied to product safety and quality.
• Boeing wins biggest 737 MAX order since safety-ban lift from Southwest.
• Mahindra Defence wins contract to make armoured vehicles for Indian army.
• India imports Chinese toys worth $600 million every year.
• China asks Alibaba to divest stake in media assets, including South China Morning Post.
• Morgan Stanley becomes first major U.S. bank to offer clients access to bitcoin funds.
• Sri Lanka approves proposal to develop West Container Terminal at Colombo Port with Adani group.
• Facebook resume Political and Social issue Advertisements on its platform.
• News Corp reaches three-year agreement with Facebook in Australia.
• Google  to reduce its Play Store commission to 15% for developers on first $1 million revenue.
• Apple ordered to pay over $300 million for digital rights management patent infringement.
• Amazon Care marks the Company’s entry into Healthcare services in the US.
• Microsoft ends support for original cross-platform Edge browser.
• PhonePe signs up six sponsorship deals for the IPL 2021.
• Amazon infuses ₹225 crore into India payments unit.
• Uber agrees to classify drivers in UK as ‘workers’; to give drivers minimum wage, pension, holiday pay.
• SpaceX successfully tests Starship SN10 rocket after 2 failed attempts.
• Oyo’s Singapore subsidiary secures $200 million term loan from SoftBank.
• Indian Gaming League raises $500,000 from Hungama Digital Media and Hindustan Talkies.
• Vi partners with Disney+ Hotstar to provide year of free content to users.
• Disney+ streaming platform crosses 100 million subscriber milestone.
• Canara Bank’s Executive Director Matam Venkata Rao appointed as new MD & CEO of Central Bank.
• US Senate confirms Katherine Tai as Biden’s chief trade negotiator.
• Ralf Speth to take over as TVS Motor Chairman in 2023 Venu Srinivasan will become Chairman Emeritus.
• Google vice-president Caesar Sengupta steps down.
• Dr Anish Shah to replace Dr Pawan Goenka as Mahindra MD and CEO.