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  • India’s retail inflation rises to 5.08% in June while IIP grows 5.9% in May.
  • Student visas that led to work permits, permanent residency and then citizenship offered a straight and easy path to settle down in a Western country where Indians could enjoy a higher standard of life. In pursuit of this dream, hordes of Indian youth chose to head to Canada in recent years. But now the dream is souring. High property prices, lack of jobs and rising crime are rendering Canada into a nightmare. So much so, a high cost of living has triggered reverse migration from Canada. Unemployment rate has reached 12.6% in Canada.
  • India will get Mangolian coking coal in July.
  • India’s June fuel demand edges up to 2.6%.
  • Accenture buys Bengaluru based chip design company Excelmax Technologies.
  • In a hint that uniform national level builder-buyer agreements in India may be made public soon, the Centre on Monday said that it has submitted a model of it to the Supreme Court for its approval. Buyers are being continuously defrauded by builders and that is the need of the hour.
  • In June, inflows into equity mutual funds rose 17% to Rs 40608 crores up from Rs 34697 crores in May with more than half of the inflows coming from sectoral/thematic funds.
  • UP has scrapped registration taxes for hybrid cars. Will help Maruti, Toyota, Honda etc.
  • Market cap of BSE listed firms at record high of Rs 451.27 lakh crores, so market cap to GDP ratio is now above 1.5.
  • SBI raises Rs 10000 crores at a coupon rate of 7.36% in 15 years infra bonds.
  • The government has taken a slew of steps to boost the sales of electric two-wheelers and three-wheelers under its Electric Mobility Promotion Scheme (EMPS) 2024, which includes allowing manufacturers to upload claims twice a month and gives them a 120-day window to submit it.
  • Commerce and Industry Minister Piyush Goyal is set to travel to Switzerland on Sunday to meet investors, in line with the $100 billion investment commitment under the India-European Free Trade Association (EFTA) trade deal signed earlier this year.
  • More than 1000 scrips have been ousted from the NSE collateral list. These are mostly small cap stocks and one can expect funds to shift from small cap to mid cap and large caps in the coming several months. These stocks will be phased out from collaterals over the next several months as the hair cut keeps moving higher for the next several months resulting in an ultimate exit from the collateral list.
  • RBI is expecting an inflation of about 5% for the last month or a little over 5%. Unless they hit the 4% mark or below, they might not cut interest rates.
  • Amazon’s Project Kuiper may soon join Bharti-backed Eutelsat OneWeb and the Reliance Jio’s satellite arm to get a satcom license as the Jeff Bezos-led firm submitted the requisite critical documents to the government. The competition will offer choices and better services and speed to customers. Much needed.

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