Good morning, people!
Markets will open soon, and there's a lot to look out for this week, especially the RBI monetary policy meeting. Inflation is soaring, would RBI hike rates again? We’ll find out soon, until then here are the top stories to begin your day.
For more updates on F&O, click here.
⭐ SJVN invests in green energy 🌞
State-owned power producer SJVN (Satluj Jal Vidyut Nigam) plans to invest ₹1,000 crore to set up three renewable energy projects in Uttar Pradesh. Two projects will be set up with a capacity of 75 MW each, in Parasan and Gurha villages. Meanwhile, a third will have a 50 MW capacity and will be set up in Gujarai village.
⭐ Chip shortage easing 📲
The auto industry, which has been reeling under the shortage of semiconductors globally, now feels the crisis is easing. After facing shortages for months, car makers like BMW, Mercedes Benz are now getting their high-tech components produced at full capacity. As the chip supply recovers slowly, carmakers are working to clear their order backlogs.
⭐ Covid curbs back in Maha 😷
With cases on the rise, Maharashtra has advised citizens to use masks and follow Covid protocols in enclosed places. Major companies like Mahindra and Mahindra and Deloitte are now recommending their staff to take booster shots and are also planning to ramp up the testing of their employees. The June tally for Mumbai is at 3,095, more than double as compared to 1,519 in March.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.4% |
| Nikkei 225 (Japan) | ▲ 0.2% |
| Hang Seng (Hong Kong) | ▲ 0.2% |
| SSE Composite (China) | ▲ 0.06% |
| Dow Jones (US) (June 03) | ▼ 1.0% |
| NYSE (US) (June 03) | ▼ 0.8% |
| Nasdaq (US) (June 02) | ▼ 2.4% |
| S&P 500 (US) (June 02) | ▼ 1.6% |
Fact of the day
China has launched a spacecraft with three astronauts to the Chinese space station.
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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.