Daily Stock Market News Snippets- 11 October 2022

2 min read

Global Economy:

  • Amid the escalation in the war between Russia-Ukraine; the global stock market slumps.
  • JPMorgan CEO Jamie Dimon warns of the global recession in 6-9 months

Indian Economy:

  • The target of the Indian Government of a Fiscal Deficit of 6.4% for FY23 is likely to be achieved as over 50% of the revenue target is fulfilled.
  • India’s 10-Year G-Sec Yield is hovering at high levels of around 7.5% due to rising US yield, and crude oil prices.
  • Indian Space economy to reach $13 billion almost by 2025.
  • Mutual fund AUM rises to Rs. 39.9 lakh cr. in September on higher inflows into SIPs: AMFI

Stock Specific News:

  • Value growth is expected in the FMCG sector in Q2FY23, but volume growth may suffer.
  • IDBI Bank privatization: Financial bids likely by March, sale process to conclude by Sept
  • TCS Results: Revenue grew 4.8% QoQ, Profit grew by around 10% QoQ and 8.8% YoY; management gives positive commentary
  • TCS reports a higher attrition rate of 21.5% in Q2FY23 against 19.7% in Q1FY23.
  • Infosys to consider buyback on October 13.
  • Bajaj Auto completed the share buyback process of Rs. 2,500 Cr. on October 10; the promoter stake increases to 54.98%.
  • Tata Motors reports a 33% increase in global sales, including that of Jaguar Land Rover to 3,35,976 units in Q2FY23. It sold 2,51,689 units in the same period last year.
  • Adani Group in talks to buy Jaiprakash’s cement units for Rs 5,000 crore
  • India Cements to sell its Madhya Pradesh operations to JSW Cement for Rs 477 cr.
  • Paytm Q2FY23 update: Number of loans triple, merchant payments surge, payment users grow
  • RIL looks to raise to $1.5 billion, Jio $2.5 billion via foreign loans
  • Adani Group is in talks with global investors to raise $10 billion to fund their clean energy, ports, and cement business.

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