# Adani

• The massive sell off in Adani group stocks continued for the third consecutive season on Monday, wiping out nearly ₹1.4 lakh crore worth of investor’s wealth.
• In all, about 29% of the group’s market capitalization or about ₹5.6 lakh crore, has been eroded in the last three trading seasons.
• The sell off started after US based short seller Hindenburg research released a report criticising the group for tricking investors money.
• Asia’s richest person is just $4.1 billion ahead of reliance industries Chairman Mukesh Ambani, who is at the 10th spot, according to forbes real-time billionaire index.

# Rail and highways

• The highways and railways sectors are likely to get a combined budgetary allocation of over ₹4 lakh crore, the highest ever.
• Both the road and railways ministries may see 20-30% increase in their allocation considering their track record in spending so far.
• During the current financial year, the centre has allocated almost ₹2 lakh crore for the road transport and highways ministry and going by the current trend of expenditure, the total spending is likely to touch ₹2.1 lakh crore by march.
• In the case of railways, the government had allocated ₹1.4 lakh crore for 2022-23.

# Patent filing

• Patent filing by Indian applications were estimated at 10918 during the December quarter, compared with 10340 applications Lodged by non-domestic entities, marking the second time during 2022, when quarterly filings by domestic players were higher.
• Data available with the department for promotion of industries and internal trade showed that during January-March 2022,of the 19796 patent applications filed 10706 were filed by Indian applicants against 9090 by non Indian applicants.
• Trends available so far, indicated that the applications filed in 2022-23 will exceed last year’s number of 66440.

# Rain deficit

• India’s January rainfall has hit a five year low at 12.4 mm, with the month currently running a rainfall deficit of 25%.
• IMD’s data shows rain shortfall in Punjab, uttarakhand, east UP, Bihar, Chhattisgarh, Odisha and Madhya pradesh among others.