Daily News Snippets

2 min read

1) Russia-Ukraine Conflict Tension Eases:

  • Russia begins a partial troop pullback from Ukraine Border, but North Atlantic Treaty Organization (NATO) has not confirmed it yet.
  • With this easing in the tensions between Russia and Ukraine, the Crude Oil Price also fell at the range of $90-$92 per barrel.
  • The US 10-Year G-Sec Yield again went up above the mark of 2%.
  • The Gold Asset Class also counted in as Safe Heaven also reported softening in the prices.

2) Mark Mobius expects 10% Correction in Indian Market:

  • Mark Mobius, the founder of Mobius Capital Partners expects that Indian Market corrections can further extend up to 10%. But he is also positive about the growth prospects of the country for the longer time period.
  • In Q3FY22, the corporates of India have reported growth of around 27% in profitability terms. While Net Profit of companies of Nifty 50 has grown by around 23%. The Current Nifty PE is around 22.36.
  • Post the consideration of consolidation earnings of the companies, Nifty 50 PE was corrected by around 20%-25% and came to the range of 30-35. Currently, the Nifty PE is trading at the levels of 22-23 showcasing improvement in earnings.

3) SBI Mutual Fund IPO:

  • SBI Mutual Fund, the largest Asset Management Company (AMC) of the country with Asset Under Management (AUM) of more than Rs. 6 Lakh Cr. can soon come up with its Initial Public Offering by FY23.
  • The company had finalized 7 Investment Bankers. The Expected IPO Size would be around $1 Billion or Rs. 7,500 Cr.

3) Announcement of SEBI for Listed Companies:

  • Securities and Exchange Board of India on February 15 has given the decision of separate posts of chairperson and managing director (MD) or chief executive officer (CEO) to voluntary from mandatory for the listed companies.
  • This rule will be implemented from April 1, 2022

4) Privatisation of IDBI Bank:

  • The stake of the Government of India including of Life Insurance Corporation of India (LIC) in IDBI Bank has been activated for privatization.

5) Expectation of increase in Overseas Investment Limit:

  • The Investment Limit in Overseas Securities can be increased by around 25% from the current level of around $7 billion or Rs. 52,500 Cr.

6) Rise in Export:

  • Goods Export has increased by 25% YoY in January to $34.50 billion (~Rs. 2.59 Lakh Cr.) showcasing normalcy in the global supply chain.

7) IT Business:

  • As per the report of the National Association of Software and Service Companies (NASCOM) is expecting revenues of Information Technology (IT) could touch the mark of $350 billion by 2026. Currently the same hovers between $232-$250 billion.

8) Rise in Fuel Price:

  • The Fuel Prices of Petrol, diesel, etc. might increase in the coming days.

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