PV sales accelerate 🚗

Good morning, people!

We know that markets have been disappointing for the last two days. Volatility has been high amid concerns of rising inflation.  Here are the top stories to begin your day.

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⭐ PV sales rise on low base 🚗

Passenger vehicle sales moved to the fast lane in May, despite the ongoing semiconductor shortage. Maruti Suzuki retained the top spot in May, with sales of 1.3 lakh units. This was compared to 35,293 units in the same period last year, which was impacted by the second wave. Meanwhile Tata Motors came a distant second with sales of 43,341 units, its highest ever monthly sales since inception.

⭐ GST collection rise in May 💰

Goods and Services Tax (GST) collections for May stood at ₹1,40,885 crore, up 44% year-on-year. GST collections have crossed the ₹1.4 lakh crore mark for the third consecutive month since March 2022. The rise in collections will help boost the government’s financial position and soften the impact of tax and duty cuts to tackle rising inflation. 

⭐FMCG cos witness slowing demand 🍪

Although the overall FMCG industry grew by 6% YoY, the demand in rural areas declined by 5.3% in the first quarter of 2022, as per a NielsenIQ report. This is the steepest decline in the last three quarters. According to the report, the steady rise in prices has affected consumption patterns, and the decline is more prominent in the rural areas. Demand for non-food items saw a steeper decline as consumers prioritised food purchases.

Global markets (at 7:30 AM today)

Fact of the day

Deccan Queen, India’s first luxury train completes 92 years. The train connects two major Maharashtra cities, Mumbai and Pune, and holds an impeccable record of right time ‘departure’ and ‘arrival’.

Source: CNBC

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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.