Economy / Market Snapshot – November, 2017

General News

• Winter Session of Parliament to start on 15 December, will conclude on 5 January.
• Demonetisation @ 365: PM Modi thanks people, opposition mark the anniversary as a Black Day.
• Congress announces dates for party president election, stage set for Rahul Gandhi’s elevation.
• Hardik Patel announces support for Congress, says Congress has promised quota to Patel community.
• Himachal Pradesh records its highest voter turnout at 74% in the assembly elections.
• Justice Dalveer Bhandari re-elected to International Court of Justice after UK opts out from the race.
• PM Modi, Sheikh Hasina and Mamata Banerjee flag off Kolkata-Khulna train service via video
  conference.
• PM Modi inaugurates World Food India festival 2017; 800kg of khichdi cooked for world record.
• Centre advances implementation of BS-VI norms to April 2018 for Delhi as pollution chokes city.
• Delhi govt calls off odd-even scheme after NGT strikes down exemptions.
• BrahMos, the world’s fastest supersonic cruise missile, successfully tested from Sukhoi-30MKI fighter.
• Ministry of Defence scraps $500 million Israeli missile deal, wants DRDO to make in India.
• PM Modi, Donald Trump hold talks on defence, security issues in Philippines.
• Bill Gates meets Rajnath Singh and UP CM Yogi Adityanath.
• Vyapam scam: CBI gives clean chit to Madhya Pradesh CM Shivraj Singh Chouhan.
• Paradise Papers: Over 700 Indians identified in global investigation on offshore dealings.
• Swiss parliamentary panel approves automatic information exchange with India.
• Manushi Chhillar ends India’s 17-year long wait, wins Miss World 2017.
• EC recognises Nitish Kumar-led group as JD(U), permits to use ‘Arrow’ symbol.
• IT officials conduct raids at Jaya TV office, Kodanad estate and premises belonging to Sasikala family;
  tax evasion of income of Rs 1,430 crores detected.
• Merged EPS-OPS camp win battle for AIADMK’s two leaves symbol.
• Kamal Hassan introduces mobile app for whistle-blowers on his 63rd birthday.
• NTPC blast: 32 dead, dozens injured in boiler blast at Unchahar power plant in Rae Bareli.
• Karnataka govt celebrates Tipu Jayanti amid heavy security.
• Ryan school murder: CBI arrests Class XI boy for allegedly killing Pradyuman.
• Padmavati makers voluntarily defer film’s release after protests.
• Donald Trump was on 5-nation Asia tour as soaring nuclear tensions with N Korea reach fresh heights.
• US committee votes $30,000 increase in minimum salary of H1B visa workers.
• UK to exit EU on Mar 29, 2019 at 11 pm: Theresa May.
• N Korea fires ballistic missile capable of reaching all of US mainland.
• Robert Mugabe resigns as Zimbabwe’s President, ending 37-year rule, Ex-Vice President Emmerson
  Mnangagwa to be new leader.
• German Chancellor Angela Merkel faces biggest challenge as coalition talks collapse.
• Pakistan puts Hafiz Saeed under house arrest days after release.
• Saudi Arabia arrest dozens of princes and former govt ministers in anti-corruption probe.
• Myanmar to take back Rohingya refugees; signs deal with Bangladesh.
• Russia, Iran, Turkey together to end six-year Syrian civil war: Vladimir Putin.
• Lebanon’s Prime Minister Hariri puts his resignation on hold, returns to Beirut.
• Militants kill 305 at Sufi Mosque in Egypt’s deadliest terrorist attack.
• US air strike in Somalia kills more than 100 Al-Qaeda affiliated Shabaab fighters.
• UN climate talks wrap up as US stands firm on fossil fuels.
• Global food import bill rises to $1.413 trillion despite robust output in 2017: UN.
• Mary Kom clinches fifth gold medal at Asian Boxing Championships.
• Mirabai Chanu becomes 1st Indian to win gold in over 2 decades in World Weightlifting Championship.
• Indian women lift Asia Cup, qualify for 2018 hockey World Cup.
• Saina Nehwal defeats PV Sindhu to win third Nationals title.
• Record-setting Kidambi Srikanth rises to No 2 in BWF rankings.
• Star Sports bags broadcasting rights for New Zealand cricket till Apr 2020.
• India vs New Zealand T20 series: India wins the series 2-1.
• India vs Sri Lanka: India lead the 3 Test match series 1-0.
• R Ashwin become fastest bowler to claim 300 Test wickets in 54 matches.

Business News

• GST Council slashes tax rates on 177 items from 28% to 18%.
• 43.68 lakh GST returns filed for October, highest in 3 months.
• President Ram Nath Kovind gives nod for Insolvency and Bankruptcy Code ordinance.
• October CPI comes at 3.58%; September IIP comes at 3.8%; August IIP revised to 4.5%.
• Q2 GDP grows to 6.3%, manufacturing sector grows at 7%.
• India’s fiscal deficit comes at Rs 5.25 lakh crore for Apr-Oct, crosses 96.1% of the budgeted target.
• Moody’s upgrades India’s credit rating to Baa2, changes the outlook stable from positive.
• S&P keeps outlook on India stable, retains BBB- rating.
• India jumps 30 places to 100 in the World Bank’s ease of doing business rankings.
• PM Modi and Ivanka Trump jointly host the 8th Annual Global Entrepreneurship Summit in
  Hyderabad.
• HDFC Standard Life, Reliance Nippon Life, Mahindra Logistics, New India Assurance, Khadim India and
  5 paisa made their debut in the exchanges.
• Cabinet approves wage revision for CPSEs, setting up of 15th Finance Commission.
• NRIs, PIOs don’t need to link bank a/c, PAN with Aadhaar: UIDAI.
• Govt announces highway and shipping projects worth Rs 1 lakh crore for Tamil Nadu.
• US, China sign $250 billion trade deals during Trump’s visit.
• Bitcoin scores a historic high of $10,000, gains 940% in 2017.
• RBI asks banks to provision against second list of stressed assets by March.
• PNB gets nod for sale of partial stake in PNB Housing Finance and entire stake in Principal PNB AMC.
• ICICI Bank board okays part stake sale in ICICI Securities through an IPO.
• Paytm, ICICI Bank join hands to bring instant credit to customers.
• Rs 15 crore bank deposits made post demonetisation declared benami property.
• BRICS bank approves $400 million loans for India, Russia.
• LIC hikes stake in Indiabulls Housing Finance by 2%.
• Wipro and Infosys commence their buyback process.
• Nokia kicks off production of 5G ready base station from Chennai factory.
• National Pharmaceutical Pricing Authority caps prices of 51 essential drug formulations.
• Torrent pharma acquires Unichem’s domestic branded business for Rs 3,600 crores.
• Eris Lifesciences buys Strides Shasun’s India business for Rs 500 crores.
• TRAI upholds net neutrality; includes IoT under non discriminatory treatment.
• Airtel sells stake in Bharti Infratel for Rs 3,325 crores.
• Mahindra ties up with Zoomcar and Uber for its electric vehicles.
• Mahindra opens a new US headquarters and assembly plant in Auburn Hills, Michigan.
• Toyota and Suzuki sign an MOU to launch EVs in India by 2020.
• Ashok Leyland and Hino Motors of Japan ink pact to develop BS-VI engines.
• Honda bags patent for its combined brake system for two-wheelers.
• Cabinet approves MoU between India and Poland for the promotion of Civil Aviation Cooperation.
• Fines from ticketless travel crosses Rs 100 crores in 7 months: Central Railway.
• CCI clears GIC’s Rs 9,000 crore deal to acquire 33% stake in DLF’s rental arm.
• Magicbricks, PNB Housing partner for e-auction of re-possessed assets.
• Govt exempts oil, gas PSU mergers from CCI approval for 5 years.
• ONGC Videsh acquires 15% stake in Namibian oil block.
• RIL sells stake in US Marcellus shale assets to BKV Chelsea for $126 million.
• Govt fixes Sovereign Gold Bond rate at Rs 2,961/gram.
• Adani Transmission completes 100% acquisition of Reliance Infra’s transmission assets.
• Coal Ministry launches app for transparency in coal despatches through road.
• Adani Power signs power purchase agreement with Bangladesh Power Development board.
• Uber paid hackers $100,000 to cover up hack that exposed data of 57 million users: CEO.
• Paytm integrates BHIM UPI on its platform.
• PayPal launches its domestic payment service in India.
• Alibaba delivers its first packages to islands through drones.
• South Korean LOTTE buys Ahmedabad based Havmor Ice Cream for Rs 1,020 crores.
• Donear group promoters acquire OCM Woolen Mills.
• Facebook launches digital, start-up training hubs to aid small businesses in India.
• Jerome Powell succeeds Janet Yellen as next Federal Reserve chair.
• Meg Whitman to step down as Hewlett Packard Enterprise CEO.

Q2 Results

• SBI Q2 profit falls 37.7% to Rs 1,581.55 crores, NII up by 27.3% to Rs 18,585.9 crores, GNPAs at 9.83%.
• Bank of Baroda Q2 profit sinks 35.6% to Rs 355.4 crores YoY, advances up by 9.4%, NII margin at 2.31%.
• PNB’s Q2 profit grew 2% to Rs 560.6 crores, NII by 3.5% YoY to Rs 4,015.2 crores, GNPA at 13.31%.
• Indian Bank Q2 profit rises 11.4% to Rs 451.54 crores YoY, GNPA lower at 6.67%.
• Tech Mahindra’s Q2 profit up by 4.7% to Rs 836 crores, rupee revenue up 3.7% to Rs 7,606 crores.
• Cognizant Q3 net up 11.4% to $495 million, eyes 9.5-10% revenue growth in 2017.
• Idea Cellular reports Q2 net loss of Rs 1,106.8 crores, revenue drops 19.72% to Rs 7,465.5 crores.
• Tata Motors posts Q2 profit at Rs 2,501.67 crores, consolidated revenue up 10.3% to Rs 70,156 crores.
• Ashok Leyland’s Q2 net profit at Rs 334.2 crores up 13.5% , revenues 30.8% higher at Rs 6,047 crores.
• M&M Q2 profit rises over 22% to Rs 1,411 crores; approves bonus issue of 1:1.
• Hero MotoCorp reports 0.6% growth in Q2 profit at Rs 1,010.5 crores; posts highest ever quarterly
  sales of 20,22,805 units.
• TVS Motor Q2 profit up 20% at Rs 213.2 crores; revenues grow 18.3% to Rs 4,052.4 crores.
• SpiceJet Q2 net profit jumps 79% to Rs 105 crores.
• Sun Pharma Q2 net profit falls 59% YoY to Rs 912 crores, revenues decline 19.5% to Rs 6650 crores.
• Cipla Q2 profit rises 18% to Rs 435 crores, revenue from operations up 8.8% to Rs 4,082 crores.
• Power Grid posts 14% rise in Q2 net profit at Rs 2,141 crores, revenue came in at Rs 7,252.8 crore.
• BHEL Q2 profit rises 6% to Rs 114.5 crores; EBITDA loss reported at Rs 95 crores.
• Tata Power’s Q2 net profit fell 43.6% to Rs 268.5 crores by a one-time loss of Rs 148 crores, revenues
  grew by 6% at Rs 7,657 crores.
• Amara Raja Q2 profit falls 7% at 127.2 crores; EBITDA up 3.6% at Rs 238.1 crores.
• L&T Q2 profit grows 26% to Rs 2,131 crores, EBITDA grew by 27.9% YoY to Rs 2,960 crores.
• India Cements Q2 profit down 62.07% to Rs 23.67 crores, total income slips 3.01% to 1,274.90 crores.