Bharat Forge joins hands with HAL

Good morning!

Here are the top stories to start your day.

For more updates on F&O. Click here.

⭐ Bharat Forge joins hands with HAL

Engineering firm Bharat Forge has signed an agreement with Hindustan Aeronautics and Saarloha Advanced Materials for the development and production of aerospace-grade steel alloys. The MoU signed between these companies will accelerate the domestic supply of aerospace-grade steel alloys used in aircraft applications and reduce dependency on foreign steel.

⭐ Jio, Airtel gains users at Vodafone cost 

As per the latest Trai data, Reliance Jio and Bharti Airtel added 1.7 million and 1.5 million subscribers respectively in December 2022. Meanwhile, Vodafone Idea lost nearly 2.4 million subscribers. The user base of Jio and Airtel expanded to 424.5 million and 367 million respectively.  

⭐ Fuel demand sees sharp rebound

India’s fuel consumption witnessed a sharp rebound of 16% YoY in the first half of February 2023. As per industry data, petrol sales jumped 18% YoY to 1.2 million tonnes, while diesel, the country’s most used fuel, posted a nearly 25% YoY rise in sales to 3.3 million tonnes. The sales rebound comes after a winter lull in the previous month.

Global markets (at 8:15 AM today)

Fact of the day

As per Nasscom report, 18% of Indian startups have at least one women founder 

Source: Business Standard