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Bit by Bit 4th Sept. || Just like Pilots, dolphin too have wingman || 80 Gbps USB transfer speed & More
BGS Committee
September 04, 2022
Good Morning! We don't want to spam your account with daily news, even if spamming is what it takes to know about daily happenings. That's why after the inaugural mail, we sent mail to only our 150+ subscribers. These 150+ subscribers understood our aim:
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Today we will once again publicly broadcast so that you could subscribe and get future ready bit by bit.
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MARKET UPDATE
Closed because of Saturday.
ECONOMY
India’s foreign exchange reserves fall
Key Facts:
Foreign exchange reserves fall by $3 billion
The reserves stand at $561.046 billion
India lost about $45 billion in reserves since April
The Story:
The country’s foreign exchange reserves declined by $3.007 billion to $561.046 billion, the Reserve Bank of India (RBI) data showed.
The fall in the reserves was on account of a dip in the foreign currency assets (FCA), a major component of the overall reserves, and the gold reserves, according to the Weekly Statistical Supplement released by the RBI on Friday.
Gold reserves decreased by $271 million to $39.643 billion, the data showed. The Special Drawing Rights (SDRs) dropped by $155 million to $17.832 billion.
FMCG
Key Facts:
Major FMCG player Patanjali Foods accomplished the market worth of Rs 45,471.98 crores.
The share value of Patanjali Food works limited reached Rs 1,266 and closed with the gap of 4.50% at 1259.95 a piece.
The total volume of stock was 1,282,012 shares on the day of trading.
The Story:
A recommendation of Rs. 5 per equity share was made by the Board of Directors of Patanjali. The entitlement of company members to receive dividend will be decided on 26th September 2022. Furthermore, The company board has finally come out with the announcement that register of members and the share transfer books of the company will remain closed from 27th September 2022 to 29th September 2022 for the purpose of payment of dividend for the financial year.
On Wednesday, Patanjali came out with a big news that an oil palm mill will be built in the industrial growing area of Niglok, Arunachal Pradesh along with the Lower Siang District of Kherram. Their long-term vision is to undertake 38,000 ha area across 9 districts. It will massively help in employment generation and add up to farmers income.
Patanjali has also deeply devoted itself to the central govt.'s NMEO-OP program to fulfil its long term goal of cultivation of oil palm of 5 lakh ha area , out of which 3.2 lakh ha area will be covered in North east India . This new initiative will immensely benefit India in terms of economy as average production of palm oil will increase to 7.5 lakh MT, savings of 10,500 crore of forex and employment generation of 5.8 lakh persons.
AUTOMOTIVE
August auto sales: - Retail sales rise as the holiday season gets underway.
Key Facts:
Easing semiconductor supplies boosted PV retails.
Maruti Suzuki occupies the top place, with Hyundai well behind.
The Story:
In the consumer-facing PV/2W (passenger vehicle and two-wheeler) divisions, retail sales of autos increased in August by roughly 7% and 3% month-over-month (MoM), according to domestic brokerage firm ICICI Securities. While the CV (commercial vehicle) segment was flat on an MoM in August.
According to ICICI Securities, India continues to lead the world in terms of workplace mobility and transit mobility, with offices and schools returning to normal. However, the global mobility data has weakened as important regions, such as the US and Europe, deal with significant challenges. Even though Maruti Suzuki led the sales charts in August 2022, the company saw a decrease of 6 per cent month-over-month. Mini segment car sales which comprises of Alto and S-Presso climbed in august. Tata Motors saw a month-over-month (MoM) increase in volume of 0.7. The Nexon, Nexon EV, Safari, and Harrier Jet Editions were recently revealed by the local auto giant. The Nexon and Punch both had their best monthly sales ever last month.
TECH
Next USB Version Promises 80Gbps Transfer Speed On Smartphones
The Story:
The USB is taking a new avatar soon. The USB Promoter Group has finally announced the release of the USB4 Version 2.0 specification. The new update is capable of delivering speeds up to 80 Gbps over the Type C cable — double the capacity of the original USB 4, even Thunderbolt 4.
The USB Type-C and USB Power Delivery (USB PD) specifications will also be updated to enable this higher level of data performance.
"This updated USB4 specification doubles data performance to deliver higher levels of functionality to the USB Type-C ecosystem," said Brad Saunders, Chairman, USB Promoter Group.
“Solutions seeing the most benefit from this speed enhancement include higher-performance displays, storage, and USB-based hubs and docks," he stated. All of these specification updates are expected to be published in advance of this year’s series of USB DevDays developer events planned for November. “This update is specifically targeted to developers at this time", said the group which has Apple, Hewlett-Packard, Intel, Microsoft, Renesas Electronics Corporation, STMicroelectronics, and Texas Instruments as members.
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The Story:
