20/04/2024
- The commodities are showing a weak trend. We can expect commodity prices to soften from hereon. The rate cuts are at least about six months away.
- Crude oil is unable to sustain above $85. A sharp decline cannot be ruled out. Despite a lot of crude oil production cuts, the prices fail to move higher. If they start producing a little more, the prices could crash.
- A lot of alternate technologies like electric vehicles, hydrogen fuel cell vehicles, Direct Water run vehicles, biodiesel and ethanol based vehicles, even direct solar vehicles etc will be bad for crude oil prices. The prices of energy will fall despite higher consumption of energy and that could be a big boon for the people across the World.
- JSW steel is in talks to buy about 20% in Australian coal mine for about $1 billion.
- LNT ramps up green hydrogen play, plans launch of electrolysers in Sept.
- Licenses of around 64 Pharma companies cancelled after government crackdown.
- There are reports about Dr Reddy buying Novartis local Indian unit. It could be a good inorganic expansion.
- RBI bulletin expects fresh round of private capex to fuel growth.
- Hindalco subsidiary Novelis files draft papers with SEC for proposed US IPO. Tata Steel and Hindalco lost by acquiring global companies and these are course corrections.
- Wireless EV charging may become a reality soon.
- Government hits 79% of the revised EV targets under FAME II as of February 18.
- BOB raises Rs 2500 crores via Tier II bonds at 7.57%, surpasses mkt estimates.
- A consortium backed by Reliance and India’s top engineering schools aim to launch its first ChatGPT style service next month, a big step in the country’s ambitions to become a player in the field of artificial intelligence.
- Ambuja Cements will invest Rs 1000 crores in Jharkhand.
- India’s market cap is now nearly $4.5 trillion and Jefferies expects it to move to $10 trillion by 2030. More than double. Around 120% rise.
- Grasim Industries has made its foray into the paint business with the launch of their highly anticipated brand, Birla Opus.
- Cabinet okays Rs 19000 crore deal to procure 200 Brahmos missiles for Navy.
- The payment made by India to Russia in rupee terms against defence purchases, that was lying in India in the vostro accounts have been fully utilised with investments done in infra projects, equity, government securities etc.
- Toyota Kirloskar Auto Parts now eligible to avail incentives under PLI scheme.
- US Treasury department imposes 500 plus sanctions on Russia. EU targets companies in new round. US and Western nations are shrewd. When they are fully aware that Russia has exhausted their resources in their war against Ukraine, they are doubling the sanctions and tightening the noose around Russia’s neck. Russia might not be able to retaliate and will feel the pressure.
- Zurich Insurance will buy a 70% stake in Kotak Mahindra Bank’s General Insurance arm by paying 55.6 billion rupees.