Daily Stock Market News Snippets- 11 October 20222 min read
- 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
- 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.