Daily News Snippets- 18 February 2022

1) The continued tensions of invasions by Russia over Ukraine upsets the stock market.

2) Amid the tension between Russia and Ukraine, prices of precious materials like Gold, Platinum witnessed a sharp rise. For some part, the price of Brent Crude Oil went below the mark of $100, but then again came back due to the concerns.

3) Limits of UPI could be increased in the coming period. This rise in the limit can be associated with the upcoming Initial Public Offer (IPO) of Life Insurance Corporation of India (LIC) so that the IPO receives higher participation.

4) The fall in Stocks of the US Market, especially in technology stocks has some impact on the Indian Stock Market where most of the companies which made their debut in the stock exchanges in FY22 are trading below their listing prices.

5) India has welcomed the Green Hydrogen Policy wherein not only the manufacturer but the states/companies using the Green Hydrogen will also be benefited. The policy provides a “waiver of inter-state transmission charges for 25 years” to the manufacturers of green hydrogen and green ammonia for the projects commissioned before June 30, 2025.

6) In a recent survey, only 8% of consumers are interested in quick grocery delivery. This survey might be surprising for the companies since many companies are investing hugely into these quick commerce delivery platforms.

7) HDFC’s Chairman Deepak Parekh says that the Government’s focus on affordable housing will prove beneficial for housing companies.

8) As per the news reports, Local Shipyard Companies has frauded the banks of around Rs. 44,000 Cr. Recently, SEBI has also taken actions against a shipyard company ‘ABG Shipyard’ which has frauded banks of around Rs. 23,000 Cr.