Data Recap: NDTV Bid, Panicked Markets, GDP

deceptive development?

The government is set to release gross domestic product (GDP) figures for the June-ended quarter on Wednesday. After declining only 4.1% in the March quarter, the growth rate is expected to pick up to 13-16% due to the statistical impact of a lower base. However, beyond the headline numbers, economists expect an impressive recovery in the household goods and services sectors during the quarter, despite the impact of the Ukraine war and the heatwave on yields.

takeover bid

Two days after Indian billionaire Gautam Adani’s conglomerate sought a majority stake in NDTV, the media firm pushed back saying that Vishvapradhan Commercial Private Limited (VPCL), along with AMG Media Networks Ltd and Adani Enterprises Ltd, would be trading in the stock market. Regulator will be required. Approval to buy 99.5% interests in its promoter group. Acquisition speculations have driven NDTV’s share prices up since December.

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wedding bells

40%: This is the proportion of millennials who are affording their own weddings in India, where families are known to spend lavishly on wedding ceremonies. According to a survey by WeddingWire India, young couples are focusing on the quality of weddings and are also cutting down on their guest list. The survey also found an increase in wedding costs, with 31% of vendors in the industry reporting higher excise and labor charges.

centenary dream

Prime Minister Narendra Modi has set a target of To make India a developed nation by 2047, on its 100th independence anniversary. A Mint analysis suggests such a target is ambitious because the country would need to jump from a low-middle-income country to a middle-income country to a high-income country in just 25 years. If India’s Gross National Income (GNI) grows at that rate over the past 25 years, it is unlikely to become a high-income country within the time frame.

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panic markets

The stock market remained in the limelight on Monday with the benchmark indices Sensex and Nifty 50 falling 1.5% 3.9 trillion investor wealth. It fell 1.1% on Friday soon thereafter. Sensex crossed the 60,000 mark. Analysts said a bullish tone by the US Federal Reserve and tensions on Taiwan prompted the sell-off. The index recovered partially over the next two days, but fell 0.5% on Thursday.

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worry about time

32,881 crore: The pricing for the initial public offerings ending in the last quarter of calendar year 2022 is as follows. A Mint analysis showed that 27 companies that had filed draft red herring prospectus with the Securities and Exchange Board of India would have to refile their papers if they fail to launch an IPO in four months. Airline GoFirst’s public offering will expire on Friday, while some other firms’ DRHPs will expire in August and September.

political battle

All the talk around the efforts to revive the Congress is instilling little confidence among the masses. When the Latest YouGov-Mint-CPR Millennial Survey Asked Respondents for Viable Alternatives to Bharatiya Janata Party, 21% supported an alliance or aggregation of regional parties, compared to 19% who supported a revived Congress. The most popular option was a new national counter like the Aam Aadmi Party.

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Chart of the Week: Rise of UPI

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The growth trajectory of UPI payments has been phenomenal, with the country adopting digital modes of transactions following demonetisation and the coronavirus outbreak, with the government calling it a “digital public good”.

What should I follow #mint chart on our social media handles.

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