The document summarizes recent weekly news items. It reports that Adani Group will acquire a majority stake in Ambuja Cements and ACC, making it India's second largest cement maker. It also notes that the rupee slid to a historic low against the US dollar and retail inflation accelerated to 7.79% in April, its highest level in eight years. Additionally, it mentions that equity mutual fund inflows declined 44% in April compared to March.

1. Weekly
News
16th May 2022
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2. Snapshot
Adani wins race for Holcim
India assets
Adani Group set to buy Ambuja,
ACC
Rupee slides to lifetime low
Rupee at all-time lows,
stocks continue fall
Retail Inflation at 8 Year
High
Retail inflation accelerates
to an 8-yr-high in April
Net Equity MFs inflows
dive 44% in April
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SEBI Registered Investment Adviser (INA200006628)

3. Adani Group set to buy Ambuja, ACC
● Adani to acquire 63.19% stake in Ambuja Cements and 54.53% in
ACC.
● This makes it as India’s largest-ever acquisition in the
infrastructure and materials space.
● The acquisition will propel Adani Group to become the second-
largest cement maker in India after Aditya Birla Group’s UltraTech
Cement Ltd.
● With India’s cement consumption at just 242 kg per capita
compared to the global average of 525 kg per capita, there is
significant potential for the growth of the cement sector in India
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SEBI Registered Investment Adviser (INA200006628)

4. Rupee slides to lifetime low
● The Indian rupee slid to a historic low of 77.52 against the
US dollar during intraday trading on Tuesday as foreign
investors continued to pull money from Indian assets.
● Other major currencies, including the Chinese yuan and
the Japanese yen, have also fallen in value against the US
dollar.
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SEBI Registered Investment Adviser (INA200006628)

5. Retail Inflation at 8 Year High in April
● Retail inflation galloped to 7.79% in April, the fastest pace
in eight years.
● This is led by a surge in food and fuel prices.
● This is setting the expectations of repo rate hike of 25-40
basis points (bps) in the June policy
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SEBI Registered Investment Adviser (INA200006628)

6. Net Equity MFs inflows dive 44% in
April
● Equity funds saw net inflows plunge to ₹15,890 crore in April from
₹28,464 crore in March, data released by the AMFI showed.
● Russian invasion of Ukraine, soaring oil prices and aggressive
monetary-policy stances of central banks soured investors’
sentiment.
● Inflows into debt mutual funds remained robust as investors
rebalanced their portfolios.
● Overall, the net AUM rose 17% from 2021 to Rs. 38.03 trillion as on
30th April, led by fresh inflows in debt MFs.
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SEBI Registered Investment Adviser (INA200006628)

7. Others
● Meta Inaugrated its first brick and mortar retail store in California.
Smart glasses and VR headsets are among Meta’s offerings at it’s
store.
● Musk has put the twitter deal on hold on pending details regarding
fake accounts. Stock slumps.
● Gig workers may be included under Ayushman Bharat.
● SUV craze drives passenger vehicle sales. Passenger Vehicles
registration increases by 12% in April 2022 as compared to April
2019, as reported by FADA.
● Byju’s acquires Singapore education firm Northwest
● Morgan Stanley has lowered its forecasts for India’s economic
growth in the next two fiscal years to 7.6% for Fiscal Year 2023 and
6.7% for fiscal 2024. 30 bps lower than the previous estimates.
● Ranil Wickremesinghe was sworn in as the new Prime Minister.
Lanka is under emergency.
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SEBI Registered Investment Adviser (INA200006628)

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