Good morning, people!
Markets disappointed on Tuesday amid inflation concerns in the Eurozone. However, let’s keep our hopes up. They might just surprise us just like the weather has been doing in certain parts of the country. So let’s lighten up, and get on with the day.
For more updates on F&O, click here.
⭐ India’s Q4 GDP growth slows 😐
India's GDP grew by 4.1% in Q4FY22, pushing up the annual growth rate to 8.7%, as per the official data released on Tuesday. The FY22 GDP expanded by 8.7% against a 6.6% contraction in FY21. Growth likely slowed down in the previous quarter because of the third wave of the pandemic. Rising global commodity prices, escalating inflation are expected to impact economic growth in FY23.
⭐ Bharat Dynamics rises 🛦
The shares of Bharat Dynamics rose by 5% after it signed a contract with the Ministry of Defence to supply air-to-air missile (AAM) systems. As part of this ₹2,971 contract, the missile maker will supply ASTRA MK-I Beyond Visual Range AAM systems and equipment to the Indian Air Force and Navy.
⭐Telcos to hike tariffs 📱
Your phone plan will probably get more expensive. According to a Crisil report, the top three telecom operators are expected to hike tariffs again in the second half of the current fiscal year. Through this move, the operators are aiming to grow the average revenue per user, which will help the companies improve their services.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.1% |
| Nikkei 225 (Japan) | ▲ 0.7% |
| Hang Seng (Hong Kong) | ▼ 0.3% |
| SSE Composite (China) | ▼ 0.02% |
| Dow Jones (US) (May 31) | ▼ 0.6% |
| NYSE (US) (May 31) | ▼ 0.9% |
| Nasdaq (US) (May 31) | ▼ 0.4% |
| S&P 500 (US) (May 31) | ▼ 0.6% |
Fact of the day
YouTube has removed over 1.1 million videos from India during the January to March period, which is the highest among all countries.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
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