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⭐ 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)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.52% |
| Nikkei 225 (Japan) | ▼ 0.57% |
| Hang Seng (Hong Kong) | ▼ 0.34% |
| SSE Composite (China) | ▲ 0.16% |
| Dow Jones (US) (February 16) | ▼ 1.26% |
| NYSE (US) (February 16) | ▼ 0.89% |
| Nasdaq (US) (February 16) | ▼ 1.78% |
| S&P 500 (US) (February 16) | ▼ 1.38% |
Fact of the day
As per Nasscom report, 18% of Indian startups have at least one women founder
Source: Business Standard