20/04/2024
- RBI and SEBI are taking some action in tandem coming down on small cap stocks, NBFCs, fintech companies etc. Overall, we will see some shift in the funds from small cap to large mid-caps and large caps.
- India will extend a subsidy on cooking gas by a year at a cost of Rs 120 billion rupees.
- RBI tightens norms for credit, debit cards used with business accounts.
- Government panel backs higher carbon tax on coal imports to limit polluting fuel.
- Centre hikes dearness allowance to 50% of basic pay for its employees per month. It is about 4% hike.
- India sends about 10000 more soldiers at the China Border.
- Government approves industrialisation scheme for the North East.
- Fuel consumption increases by 5.7% in February on strong factory output.
- Tata Motors board approves demerging CV, PV businesses into two separate listed companies. One will represent Tata Motors Commercial Vehicle division and another would represent the Tata Motors Passenger vehicle businesses including Indian operations and JLR. Good demerger. CV division would now have to reduce costs, become competitive, innovative and aggressive to keep its head above water. In future even PV business could be split into JLR and Indian PV.
- Foreign agencies have now started raising India’s growth rates.
- Moody’s ups GDP forecast, India to remain fastest growing G20 nation.
- The Indian Embassy in Israel on Tuesday advised Indians working in Israeli border areas to relocate to safe zones within the country.
- BYD is planning to cover 90% of the premium EV car market in India with price of above Rs 30 lakhs.
- RBI tells PSU refiners to push for rupee payments in the Persian Gulf. To begin with, it wants at least 10% of the payment to be done in Indian Rupees.
- IOC to become the first Indian firm to manufacture fuel for Formula 1 cars.
- China boosts defence budget by 7.2% for military modernisation.