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- Bit by Bit 28th Jan || Adani Group Stocks' Fall Continues After Allegations By US Research Firm || Sunflower oil imports rise to record as Russia-Ukraine fight for market share & more
Bit by Bit 28th Jan || Adani Group Stocks' Fall Continues After Allegations By US Research Firm || Sunflower oil imports rise to record as Russia-Ukraine fight for market share & more
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MARKET UPDATE
NIFTY 50 : ₹17,604.35 (-1.61%)
BSE SENSEX : ₹59,330.90 (-1.45%)
NIFTY BANK : ₹40,345.65 (-3.13%)
USD/INR : ₹81.515 (+0.12%)
BRENTOIL : $86.33 (-1.30%)
MCXGOLD : ₹56,755 (-0.19%)
FII Net Cashflow : - ₹5978 crores
DII Net Cashflow : + ₹4252 crores
(Market Data as of 11:00 PM on 27/01/2022)
BFSI
The Story:
Adani group stocks fell up to 20% for the second consecutive day on Friday, wiping out over 4.17 lakh crore off the total market worth of listed enterprises after devastating charges were made by the US-based financial research firm Hindenburg Research.
On the BSE, shares of Adani Total Gas fell 20%, Adani Transmission fell 19.99%, Adani Green Energy fell 19.99%, and Adani Enterprises fell 18.52 percent.
Adani Ports and Special Economic Zone were also down 16.03 percent, Adani Wilmar was down 5%, and Adani Power was down 5%.
In just two days, the Adani group enterprises have lost a massive 4,17,824.79 crore in market value.
FMCG
Key Facts:
India's January sunflower oil imports are set to surge to a record 473,000 tonnes, nearly triple average monthly imports
Top exporters Russia and Ukraine seek to reduce stockpiles
This could dampen India's palm oil imports and weigh on Malaysian palm oil prices.
The Story:
India's January sunflower oil imports are set to surge to a record 473,000 tonnes, nearly triple average monthly imports as top exporters Russia and Ukraine seek to reduce stockpiles, industry officials told Reuters. Record imports by India, the world's biggest vegetable oil importer, come as sunoil's discount to rival soyoil widened to the highest level in nine months.
The import surge will help key Black Sea producing countries in reducing their stocks, but could dampen India's palm oil imports and weigh on Malaysian palm oil prices. "Sunoil was trading at discount to soyoil in December. The discount made it lucrative for Indian buyers," said Rajesh Patel, managing partner at GGN Research. In the last week of November and early December, sunoil's discount to soyoil widened to around $100 per tonne, the highest since February 2022, as warring producers Russia and Ukraine tried to ship more after a deal to provide safe passage to Black Sea shipments was extended.
India's monthly sunoil imports averaged around 161,000 tonnes in 2021/22 marketing year ended on Oct. 31. Russia is currently offering sunoil at competitive prices to liquidate stocks, while Ukraine is selling sunflower seeds along with oil as it is struggling to crush all available seeds due to logistical issues, said a Singapore based dealer with a trade house.
TECH
The Story
The Ministry for Electronics and Information Technology (MeitY) signed a memorandum of understanding (MoU) on Friday with Bengaluru-based Siemens Healthineers for the development of new, improved and innovative technologies for advancing healthcare and diagnostic access in India.
The MoU was signed in the presence of Rajeev Chandrasekhar, minister of state for MeitY, along with Hanumantha Rao, Society for Applied Microwave Electronics Engineering and Research (SAMEER), MeitY, and Dileep Mangsuli, Head of Development Centre, Siemens Healthineers. Chandrasekhar said the MoU will make available low-cost Magnetic Resonance Imaging (MRIs) for providing quality, and affordable healthcare and diagnostic access.
The minister said the government is prepared to partner with global companies willing to set up manufacturing bases in India. “We are also supportive of the R&D model based on co-development between global companies and India’s network of academic institutions,” he said.
SAMEER specialises in RF microwaves radar and communication systems, E3 testing and medical electronics. The minister hoped that joint activities by MeitY and Siemens will improve access to MRI and linear accelerators (LINAC) in India.
We have been pursuing research in advanced linear accelerators for cancer therapy and MRI systems for diagnostics, a fully funded research programme by MeitY. The partnership will help in creating local industry access for Siemens, and in turn, we will get access to next-generation research in advanced healthcare technologies," Rao told reporters.
Currently, SAMEER is developing an indigenous MRI technology named Sushrut.
Anything Interesting
The Story:
The robot was displayed as a part of a study into metal microparticles, which are a sort of magnetoactive phase transitional matter and have the ability to change shape, move swiftly, are simple to control, and can carry many times their own weight. The robot was built by the study's researchers using a mix of metals with a low melting point, and they published their findings in the journal Matter on Wednesday. Potential uses for this material system include flexible electronics, healthcare, and robotics.
The shape-shifting material is the most recent in a series of advancements in the developing field of small robotics as researchers scramble to find practical uses for these tiny machines in everyday life.
