TOP NEWS OF THE DAY:
1. FPI caution in equity market continues, over ₹35,000 cr dumped so far in May
2. India, and Japan to provide relief supplies worth millions to Sri Lanka
3. Crypto investors earn $163 bln in profit in 2021; Ether outruns Bitcoin in gains
4. India exported wheat worth $177 million in March, $473 million in April
5. US President Biden signs $40 billion bill for assistance to Ukraine
6. At $83.57 billion, India reports 'highest-ever' FDI inflow in FY22
7. Hackers steal Rs 7.3 cr in 831 transactions over three months from Razorpay
8. Monthly budget of common people up 10% in three months amid rising fuel prices: Survey
9. RBI allows trade transactions settlement in INR with crisis-hit Sri Lanka
10. Centre reduces excise duty on petrol by Rs 8 and on diesel by Rs 6/litre. The move will have revenue implication of around Rs 1 trn for the govt, says FM Sitharaman; also, the govt will give Rs 200/cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year.
1. FPI caution in equity market continues, over ₹35,000 cr dumped so far in May
2. India, and Japan to provide relief supplies worth millions to Sri Lanka
3. Crypto investors earn $163 bln in profit in 2021; Ether outruns Bitcoin in gains
4. India exported wheat worth $177 million in March, $473 million in April
5. US President Biden signs $40 billion bill for assistance to Ukraine
6. At $83.57 billion, India reports 'highest-ever' FDI inflow in FY22
7. Hackers steal Rs 7.3 cr in 831 transactions over three months from Razorpay
8. Monthly budget of common people up 10% in three months amid rising fuel prices: Survey
9. RBI allows trade transactions settlement in INR with crisis-hit Sri Lanka
10. Centre reduces excise duty on petrol by Rs 8 and on diesel by Rs 6/litre. The move will have revenue implication of around Rs 1 trn for the govt, says FM Sitharaman; also, the govt will give Rs 200/cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year.
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Many positives for the auto stocks today:
➡️ 15% export duty on steel to bring down steel prices
➡️ Excise duty reduction on fuel to bring down prices at the pump
➡️Metal prices cooling off globally: Steel and aluminium prices are now down 12-26% from march peaks
➡️ 15% export duty on steel to bring down steel prices
➡️ Excise duty reduction on fuel to bring down prices at the pump
➡️Metal prices cooling off globally: Steel and aluminium prices are now down 12-26% from march peaks