Mint Mid Day Digest: FPIs pull out over ₹31,000 cr in June and more

Foreign investors pull out 31,430 crore in June so far

Aggressive rate hike by the US Federal Reserve, coupled with elevated inflation and high valuation of equities continued to keep foreign investors at bay from the Indian stock market as they pulled out 31,430 crore in this month so far. (Read more)

Market crash: Top 10 firms lose 3.91 lakh cr in m-cap; TCS, RIL biggest laggards

The market valuation of the top-10 most valued firms plunged by a whopping 3.91 lakh crore last week, in tandem with a steep sell-off in equities, with TCS and and Reliance Industries taking the biggest hit. (Read more)

India’s domestic coal production goes up by 28%

Following a record-breaking coal production of 777 million tonnes (MT) in 2021-22, India’s domestic coal production has continued to rise in the current financial year. As of May 31, 2022, total domestic coal production in 2022-23 was 137.85 MT, up 28.6% from 104.83 MT in the same period in 2021. (Read more)

PM Narendra Modi inaugurates 920 cr Delhi’s Pragati Maidan corridor project

The 1.6-km-long tunnel, which will be Delhi’s first, will allow commuters travelling to India Gate and other central Delhi areas from east Delhi, Noida, and Ghaziabad to ditch traffic snarls at ITO, Mathura Road, and Bhairon Marg. (Read more)

Fuel prices steady for four weeks in a row

Oil marketing companies (OMCs) have kept petrol and diesel prices unchanged for four consecutive weeks now. In the national capital petrol is sold at 96.72 per litre, while diesel is priced at 89.62 a litre.

Retail prices were last revised on 22 May, a day after the government announced excise duty cuts on petrol and diesel. (Read more)

Mint Morning Digest

The great crypto crash: Bitcoin tumbles to lowest level in 18 months; Here’s why

Bitcoin fell below $20,000 for the first time since late 2020 in a fresh sign that the selloff in cryptocurrencies is deepening. The price of the most popular cryptocurrency had plunged more than 13%– to a low of $17,593– at one point on Saturday, according to the cryptocurrency news site CoinDesk. (Read more)

Amid worst power crisis in 6 years, India buys more Russian coal

Russia, which is under harsh Western sanctions as a result of its invasion of Ukraine, warned the European Union in April that sweeping coal penalties would backfire because the fuel would be diverted to other markets. Now, India’s sales of Russian coal have increased in recent weeks as brokers offer discounts of up to 30%. (Read more)

Govt announces measures to reduce supply of raw material to enforce ban on single-use plastic

Central Pollution Control Board is set to take measures to reduce the supply of raw materials to enforce a ban on identified single-use plastic items by 30th June 2022. (Read more)

FMCG company Adani Wilmar cuts edible oil prices by 10

Adani Wilmar, one of India’s largest Fast Moving Consumer Goods (FMCG) food firms, reduced the price of its edible oils by 10 on Saturday, after the government’s decision to lower import duties on the commodity. According to a statement from Adani Wilmar, the maximum retail price (MRP) of Fortune refined Sunflower oil’s 1-litre pack has been lowered to 210 from 220. (Read more)

Yes Bank hikes interest rates on 1 to 10 years of fixed deposits

Yes Bank, a private sector lender, raised interest rates on fixed deposits below 2 crore. The bank made the announcement today, June 18th, 2022, and as a result of the revision, interest rates on deposits maturing in one to ten years have been raised. The bank is now offering a regular rate of 3.25% to 6.50% and 3.75% to 7.25% to senior citizens on fixed deposits of 7 days to 10 years. (Read more)

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