FINVEST PULSE – APRIL 2022
Rupee falls by 23 paise to 76.65
 HDFC Bank on Saturday declared a
1550 per cent or 15.50 per share
dividend to its shareholders for the
financial year 2021-22.
 NII grew by 21 per cent in the same
period to Rs 12,605 crore versus Rs
10,431 crore in the year ago period.
 The previous week ended April 8, the
reserves had declined by USD 2.471
billion to stand at USD 604.004 billion.
 Finance ministry, state-run banks discuss
3-year strategic roadmap.
 Acquiring India's largest micro financier
gives the bank presence in more than
115,000 villages that will increase its
cross-sell, lending and low-cost deposit
mobilisation efforts.
against US Dollar in early trade
The rupee declined 23 paise to 76.65 against the US dollar in
the opening trade on Monday tracking the strength of the
dollar in the overseas market.
At the interbank foreign exchange, the rupee opened on a
muted note at 76.58 against the American dollar, then fell and
touched an early low of 76.65 in initial deals, registering a fall
of 23 paise over its previous close.
On Friday, The rupee declined by 25 paise to close at 76.42
against the US currency.
The rupee opened weaker against the US dollar weighed by
hawkish comments from Federal Reserve Chair Jerome Powell
last week, said Sriram Iyer, Senior Research Analyst at
Reliance Securities. The dollar index, which gauges the
greenback's strength against a basket of six currencies, rose
0.02 per cent to 101.23.
On the domestic equity market front, the 30-share Sensex was
trading 645.45 points or 1.13 per cent lower at 56,551.70,
while the broader NSE Nifty declined by 189.05 points, or 1.1
per cent, to 16,982.90.
.
 Paytm's Q2 net loss widens to Rs 482 crore amid rising expenses

One of the key findings in the Global Infrastructure Hub’s Monitor 2021 is that infrastructure debt provides attractive and resilient returns
for investors, consistently performing better than non-infrastructure debt worldwide. This finding is based on the most comprehensive
aggregated data on private investment in infrastructure, made possible through the GI Hub’s partnerships with leading global data
providers, including Moody’s, and by the GI Hub’s leveraging of data from more than a dozen other international entities and
organisations.
At Moody’s, our latest data show that project and infrastructure debt continued to perform well in 2020 and 2021. Despite macroeconomic
challenges and related disruptions to the service and transportation sectors, the coronavirus (COVID-19) pandemic–fueled default
cycle in 2020–21 was short-lived and much less severe for both project finance and infrastructure credits. That is to say, there were
fewer defaults on these investments than during prior credit cycles, such as 2001–04. It was also less severe for the infrastructure asset
class than for Moody’s rated universe of non-financial companies.
Rated corporate infrastructure and project finance debt, as well as total rated infrastructure securities, showed greater stability than rated
non-financial companies during 2020-21, as measured by the ‘rating drift’. However, the pandemic-fueled default cycle proved to be
short-lived and much less severe than prior cycles for both non-financial companies and infrastructure securities, as the strong global
economic recovery and abundant liquidity kept defaults low in 2021.
Rating drift is a measure to quantify the overall general credit rating trend and is calculated by the average number of upgrade rating
changes per issuer minus the average number of downgrade rating changes per issuer. Positive rating drift indicates an overall
improvement in credit quality, while negative rating drift signals deterioration.
 Sebi issues Rs 2 crore recovery notice to ex-NSE
official Anand Subramanian

Capital markets regulator Sebi on Tuesday sent a notice to former group operating officer of NSE, Anand
Subramanian, asking him to pay Rs 2.05 crore in a case related to governance lapses at the stock exchange, and
warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days.

The notice came after Subramanian failed to pay the fine imposed on him by the Securities and Exchange Board of
India (Sebi).

The regulator, through an order passed on February 11, levied a fine of Rs 2 crore Subramanian in the matter of
governance issues at the exchange.

Sebi charged former NSE chiefs, Chitra Ramkrishna and Ravi Narain, and others with alleged governance lapses in
the appointment of Subramanian as the chief strategic advisor and his re-designation as group operating officer and
advisor to then MD Ramkrishna.

In addition, Ramkrishna was accused of sharing confidential information of the company with an "unidentified
person".

The regulator levied a fine of Rs 3 crore on Ramkrishna and Rs 2 crore on Narain.

Narain was the MD and CEO of the National Stock Exchange (NSE) from April 1994 till March 2013. He was
appointed as vice-chairman in the non-executive category on the NSE's board from April 2013 and remained so till
June 2017. Ramkrishna was MD and CEO of NSE from April 2013 to December 2016.

In its fresh notice, Sebi directed Subramanian to pay Rs 2.05 crore, which includes interest and recovery cost, within
15 days.

In the event of non-payment of dues, the markets regulator will recover the amount by attaching and selling his
moveable and immoveable property. Besides, he also faces attachment of his bank accounts and arrest.

A similar demand notice was sent to Narain last week.

FP/DECEMBER/2021
 On Friday, Nifty Auto Index has given breakout on closing basis
at 11,000 levels, say stock market experts Nirmala Sitharaman
Stocks to buy: Nifty Auto Index has given breakout at 11,000 says economy 'sound',
levels on Friday session, which has injected bullish sentiment at inflation 'manageable'
Dalal Street in regard to auto stocks. Post-Covid, auto stocks
were among those segments that didn't participated in the market Finance Minister Nirmala
rally. So, stock market experts have gone highly bullish on Sitharaman in an interview to
quality auto stock provided Nifty Auto Index opens above 11,000 Bloomberg television said India's
levels on Monday and closes above 11,100 levels on Monday next economy 'appeared sound' and
week. They advised positional investors to wait for few more expressed confidence that
sessions and start accumulating auto stocks like Mahindra & quickening inflation will be
Mahindra (M&M), Tata Motors, Maruti Suzuki India Limited or controlled.
MSIL and TVS Motors. The National Statistical Office
(NSO) data shows that the
headline CPI surged to a 17-
Transgender people can register month high of 6.95% in March
themselves, get benefits: UP from 6.07% in February. The
government plan headline retail inflation has now
exceeded the inflation target of
Chief Minister Yogi Adityanath had on April 18 directed state government the Monetary Policy Committee
officials to carry forward welfare measures for transgender people. During his (MPC) for three consecutive
first tenure as chief minister, Adityanath had in 2021 formed the Transgender months. The retail inflation
Welfare Board. averaged 5.5% in FY22 in annual
terms and has remained
An estimated 20 lakh transgender people live across the state, with most of them
unchanged higher than the mid-
having limited means of education and survival. However, the first meeting of the
point of the MPC’s medium-term
board took place only on April 19 which was chaired by Social Welfare Minister
target band for the second
Asim Arun. Board's vice president Sonam Chishti and members Tina Maa, Kiran
consecutive year.
Baba, Madhu and Dr Satya Prakash Singh attended the meeting in Lucknow.
Sitharaman cited the 7.2%
"As per the law, an exercise of online voluntary registration has been initiated. Such
projected by the Reserve
individuals will then be made aware of the government schemes that they could
Bank of India for the fiscal
benefit from," he told PTI.
year that began April 1 as
"A budget of Rs 200 crore has been proposed for welfare and development of the
her “bottom line” and said
transgender community in Uttar Pradesh, out of which around Rs 25 crore will be
that 8% growth “seems
dedicated only for the education of youngsters of the community," a ministry source
absolutely possible.”
told PTI.

Heat waves, coal shortage spark fear of power crisis

Heat waves across several parts of India, the consequent increase in power demand, and fears of a coal
shortage have triggered planned blackouts in at least seven states in the country, and experts worry that at
least some parts of India could face a serious power crisis this summer. According to data from the power
ministry, normative coal stocks, the quantum required to keep plants running at full capacity for 26 days,
were low across India, except in coal-rich states such as Odisha, Jharkhand and Chhattisgarh. In West
Bengal, coal stock was 1- 5% of the normative level, in Rajasthan it was 1-25%, in Uttar Pradesh 14-21%,
and in Madhya Pradesh 6-13%. Overall, at the national level, it was 36%, a dip of two percentage points
since last week.
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Disclaimer: This Newsletter is the compilation of news from various sources (newspaper,
magazine, journal, and website) & hence, no personal analysis is being done by the
members. Thus, readers are expected to cross check the facts before relying upon them.
Though, much care has been taken to present the fact without error, still if error creeps in,
necessary feedbacks will be always welcomed. Editor would not be responsible for any
undertaking.

FP/DECMBER/2021