- Bit by Bit
- Posts
- Bit by Bit 20th Dec. || Intel re-entering discrete GPU market to folding laptops. ||Japanese chipmaker Renesas halts Beijing plant as COVID spreads & more
Bit by Bit 20th Dec. || Intel re-entering discrete GPU market to folding laptops. ||Japanese chipmaker Renesas halts Beijing plant as COVID spreads & more
Good Morning Readers!
Here are:
"5 amazing stories in 5 minutes to make you future ready"
Happy reading!
MARKET UPDATE
NIFTY 50 : ₹18,345.60BSE SENSEX : ₹61,806.19 NIFTY BANK : ₹43,259.33USD/INR : ₹82.68 (-0.18%)BRENTOIL : $80.16 (+0.45%)MCXGOLD : ₹54,370 (+0.20%)FII Net Cashflow : - ₹538 croresDII Net Cashflow : + ₹687 crores
(Market data as on 11:00 PM, 19/12/2022)
Economy
Key points
Netherlands 3rd largest export destination, Brazil 8th largest. US and UAE remain top export destinations
Total exports rise 12.5% to $263B, oil exports soar 70%.
The Story
Netherlands and Brazil have the climbed the list of India’s export destinations this fiscal. Netherlands is now ranks number 3 on the list after US and UAE. Brazil has jumped to the 8th position, a leap from 20th position during April-October 2021. Exports to Tanzania have tripled to $2.4B this fiscal.
India’s total exports have risen 12.5% to over $263 billion, oil product exports have increased around 70%. India, which has seen a sharp spike in crude imported from Russia, is currently processing and exporting it to many countries, especially in Europe.
Imports increased 5.4% to USD 55.9 billion in November, up from $53 billion in the same month last year, according to the data. During November, the trade deficit increased to $23.9 billion.
In November, India's total exports, which included both goods and services, added up to USD 58.22 billion, representing a 10% increase over the same period last year.
FMCG
The Story:
The Indian market stabilized on Monday after plunging for the previous two days, with widespread purchasing seen across important sectoral indices. The Sensex and Nifty 50 both increased by 1%. All other sectors indices were positive, with the exception of IT stocks. Metal, auto, and FMCG equities did well, and midcap stocks also saw significant purchasing.
The volatility index for India dropped by over 4%. The hawkish stance of major central banks continued to depress confidence, while domestic equities ignored these weak global cues. Additionally, the rupee appreciated against the US dollar as a result of the dollar's decline versus a basket of foreign currencies and the upward trend in Indian stock prices.
Sensex surged by 468.38 points or 0.76% to end at 61,806.19. While Nifty 50 climbed by 151.45 points or 0.83% to close at 18,420.45. Bank Nifty also zoomed by at least 0.5%. Auto stocks led the rally with indices on both NSE and BSE gaining by nearly 2% each, while FMCG and Metal stocks also followed with a more than 1% rise each.
AUTOMOTIVE
The Story:
Japan’s Renesas Electronics has suspended work at its Beijing chip plant because of Covid-19 infections and will keep it closed for several days, it said on Monday, one of the first suspensions by a major foreign manufacturer.
Renesas, the world’s leading maker of automobile chips, said it halted the factory. The plant mostly produces semiconductors used in industrial machinery and home appliances.
The recent surge in Covid cases in China has hit major urban center's and is sweeping through trading floors in Beijing and spreading fast in the financial hub of Shanghai.
China’s broad relaxation of strict Covid containment measures earlier this month triggered the still-growing wave of infections. Health experts say that China may now pay a price for shielding a population that lacks natural immunity and has low vaccination rates among the elderly.
Renesas, which makes around a third of all the microcontroller chips used by the world’s carmakers, is one of many big Japanese manufacturers to have operations in China. It also has a plant in the eastern city of Suzhou.
Any disruption in China could also be troublesome for Japan’s automakers, given their large manufacturing presence there. Neither Toyota Motor nor Nissan Motor immediately responded to a request for comment about their operations.
TECH
Intel re-entering discrete GPU market to folding laptops.
The Story:
Intel had a successful year in 2022. The firm updated its whole lineup of processors with the newest models that are quicker and more power-efficient, starting with the introduction of the Arc series of graphics cards and ending with the 13th Gen Intel core CPUs.
Intel produced CPUs with greater clock speeds and more cores with the 13th Gen Raptor Lake family of processors. The Raptor Lake family of CPUs utilize hybrid architecture with a blend of P (performance) and E (efficiency), just as the 12th generation Intel Core CPUs (cores).
In 2022, we also saw the introduction of laptops from manufacturers like Asus and Lenovo featuring foldable displays. In order to carry a laptop with a much larger display, customers can fold a laptop with a folding display in half, which is being developed by companies like HP and Samsung.
The Intel Arc line of devoted desktop and laptop GPUs caught people off guard. These GPUs aren't terrible, but they may not be as powerful as the best models from AMD and NVIDIA. What remains to be seen is how these GPU perform in a competitive market where NVIDIA and AMD are the market leaders.
Anything Interesting
The Goods and Services Tax (GST) Council has simplified tax administration by decriminalizing several offenses and increasing the fine threshold. On more significant structural changes, such creating an appeal tribunal and resolving inverted duty arrangements, it has fallen short. Due to a lack of time to address the items on the agenda, as well as the fact that ministerial groups looking into particular concerns had not yet submitted reports or the council had not yet had a chance to review the ideas, half of the agenda from last week's meeting had to be postponed. Rationalization of rates is being held up by opposition from some governments, like in the case of taxing online gambling, as well as from some industries. This is why progress is being made slowly.
By simplifying the definition of sports utility vehicles (SUVs) and freeing up resources from litigation, even modest consensual improvements should help GST increase its tax collection potential. It is anticipated that a lower tax rate on alcohol used in fuel doping will lessen reliance on foreign energy sources. In order for the new tax system to fulfill its potential for self-policing, India must move forward with collapsing GST slabs. This is supported by the GST Council's explanations on rates applicable on a number of items. The GST's administration is more difficult to manage and less effective in raising tax revenue as a result of compromises made to get it started.
