Your Tuesday Update is Ready: 3 mins with Steaming ☕

April 09, 2024 • Estimated Reading Time: 5 minutes

Hello Otter community!

In today’s edition: Sensex is going fully bullish but still had some losers; Fresh stats from steel, telecom, pharma, silver and FASTag; Farmers rejoice monsoon predictions, hopefully, it eases the food price inflation which is on RBI’s mind right now; American students and Taiwan have Biden’s favour, China not so much; and AI seems to be all over our tech segment today 😃 

TODAY’S HIGHLIGHTS

  1. Good news! Skymet forecasts a normal monsoon for India in 2024, with stronger circulation to provide relief from expected heat waves🌧️💪

  2. Silver imports surge in India, up 260% in February to record high: 🇮🇳💰 Lower duties drive large purchases from UAE, imports expected to increase by 66% in 2024 📈💎

  3. FASTag volumes: 🏷️ Monthly FASTag volumes range from 295 to 350 Million, due to organized trade and business continuity 🚗📊 Road logistics to grow between 3% to 6%

  4. TRAI report: India's telecom subscriber base grows to 119.7 Crore in February 2024, urban and rural areas show positive growth 📈📱Broadband Subscriptions Rise 📊📞

  5. Domestic chips prioritized: 💰🔌 Policy mandate in works to incentivize domestic semiconductor chip consumption AND production in critical sectors; 🔄🔧 May not have an anti-import stance

  6. Booming steel: India turns net importer of finished steel in FY 2023/24; Imports surge 38.1% 📈 Exports Rise 11.5% 📈🇮🇳 Strong local demand sees consumption jumps 13.4% in FY 2023/24

  7. March sees +9.5% growth in Indian pharma, with value growth outpacing unit growth 💊

  8. RBI Governor's concerns: 🏦🍲 Food price volatility remains a worry despite lower inflation 🚨🍽️ CPI inflation expected to dip

  9. Air India and Bangalore International Airport collaborate to boost air travel connectivity in South India ✈️🇮🇳 Enhance passenger experience and operational efficiency over the next 5 years

  10. India's fuel consumption dips in March, but FY 2024 sees record high demand driven by diesel and gasoline sales 📉🛢️

THE MARKET MOVEMENT

  1. Bullish momentum: Sensex surges past 75,000 mark in record time 📈🔔 

  2. Winners - Reliance, SBI, Bharti Airtel, TCS propel Sensex to new highs 💼💰

  3. Losers - HDFC Bank's plummets 6.6% 📉🏦 Hindustan Unilever, Asian Paints follow suit with 4.6% and 2.7% falls 📉🏭

  4. Real Estate: Godrej Properties reports 135% YoY growth in March quarter bookings 📈💰Record sales from new project launches

  5. Real Estate: Ajmera Realty & Infra hits fresh 52-Week high on crossing Rs 1,000 crore sales in FY24 📈💰Adds 6 projects to pipeline

  6. Commodity Chemicals: Premier Explosives at 52-Week high, stocks pick up 14% as board plans to review equity share sub-division 🚀💼

GEOPOLITICS SPOTLIGHT

  1. Investors flock to emerging markets for next AI boom: 🚀 US AI stocks soar; Bigger bets on Taiwan and Korean electronics manufacturers morphing into AI giants 🤖💼 Offer better value and growth opportunities 📈🌏

  2. Emerging Markets become a hotbed for AI investment amid US tech surge 🌍🚀

  3. Biden admin warns China: Crackdown on Russian support or face sanctions 💥🇨🇳

  4. U.S. proposes $6.6B investment for new Taiwan Semiconductor Manufacturing Company (TSMC) fab in Arizona 🇺🇸🌐 Facility to focus on 2nm architecture, create 20,000 jobs 🛠️💼

  5. Japan’s semiconductor materials maker Shin-Etsu Chemical invests $545 Million in new chipmaking factory 🏭💰

  6. Trump’s hush money case: Requests trial delay and venue change in Manhattan 🏛️

  7. Biden’s student debt relief plans: New measures to cancel interest and ease debt will benefit 23 Million American student borrowers 📚💰🎓

  8. China’s realty crisis: Real estate giant Shimao Group faces liquidation petition from China Construction Bank

TECH NEXUS

  1. boAt in turbulent waters: Hackers claim breach of 7.5 million customer records 🚤 data sails into hacker forums, investigation underway 🕵️‍♂️🔒

  2. Ether surges on ETF approval speculation, eyes Bitcoin's year-to-date gains 🚀

  3. Google's ‘Find My Device’ network expands: Lost Androids & Everyday Items Now Traceable 📍🔍

  4. AI Revolution hits Android: Google DeepMind's Gemini AI leaps to Android chat 🤖💬 Seamless integration mirrors iOS success 🔄✨

  5. Google boosts Android Studio with Gemini Pro: Enhanced Coding Assistance 🚀🤖

  6. "Made with AI": Meta's new badge for a transparent approach to AI content on social media 🏷️🌐

  7. AI power move: Microsoft invests in London with a new consumer AI division 🌐🔧 Taps into U.K.'s talent pool 🇬🇧💡

  8. Quantum leap: Microsoft and Quantinuum's breakthrough promises glitch-free computing 🚀🔬

 

Reply

or to participate.