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  • The entire focus is now on the Government announcements in the next 100 days and the budget for 24-25 to be presented in the second half of July.
  • The FII stance in India is quite important in the short term. If they continue to sell, the markets could find it difficult to climb much higher from the current levels in the short term. There are clear short term challenges for the markets.
  • GAIL intends to set up 1500 KTA Ethane Cracker project at Ashta, Sehore, MP having product state of various ethylene derivatives. Total investments around Rs 60000 crores. Mode of financing to be yet decided. Could be implemented in phases.
  • Equity inflows into mutual funds increased to Rs 34697 cores in May as compared to Rs 18917 crore in April. So, investors are getting into equity and the quantum is increasing.
  • Tata Motors showcased its Avinya concept electric car in 2022. Ready to launch a series of cars under Avinya brand. Avinya in Sanskrit means ‘innovation’. It is a product that combines the essence of a premium hatch with the luxuries of an SUV and the roominess and functionality of an MPV – all put together to create something new and beautiful.
  • Ola Electric gets SEBI approval for Rs 7250 crores IPO.
  • Wipro launches Lab45 AI platform to boost efficiency across business functions.
  • Hardeep Singh Puri has now said that the plans to privatise a profitable high revenue company like BPCL is completely off the table. It also means that they might not privatise good high revenue high profit making PSUs and instead improve their governance and profits.
  • Hyundai Motor India prepares for IPO filing, potential to raise $2.5 billion.
  • Tata Steel has urged the UK Government to safeguard the agreed terms of the Pound 500 million support package for the Electric Arc Furnace project at Port Talbot.
  • May inflation eases to about 12 month low of 4.75%
  • IIP growth slows to three month low of 5% in April.
  • India imported 1.1 million metric tons of finished steel between April and May up 19.80% from a year earlier. The imports are necessary as the domestic companies are keeping prices tight.
  • Nestle India to pay royalty at 4.5% to parent.
  • US consumer inflation falls to 3.3%.
  • CII president has urged the Government to bring Petroleum products, Realty and electricity under GST.

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