Daily Stock Market News Snippets- 12 July 2022

Markets – Global & India

• The US Markets were down by 0.52% to 2.26%.
• The Brent Crude Oil price is currently at $106 per barrel.
• India’s Market Cap to GDP ratio currently stands at 107%.
• India’s 10-Year G-Sec Yield is at 7.43% and US 10-Year G-Sec Yield is at 2.98%.
• Rupee at 79.44 per dollar.

Global Economy:

• Russia’s share of India’s June Oil Imports surges to a record 9,50,000 bpd.
• China’s stimulus is unlikely to reverse the route in the global metals market.
• Euro flirts with parity as the Russian gas link enters planned shutdown.

Indian Economy:

• RBI forms arrangements for settling trade payments in Rupee.
• June fuel consumption rises 17.9% YoY as demand hits pre-pandemic levels.
• Centre likely to remove 10% shareholding cap for individuals in PSBs.
• Credit growth is expected to improve aided by Government’s push on public spending.

Company Update:

• Coal India’s CAPEX rises 65% to Rs. 3,034 Cr. in the June Quarter of FY23.
• L&T Construction bags orders to build data centres in Mumbai, Navi Mumbai.
• Loan disbursements for Paytm up nine-fold to over Rs. 5,500 Cr.
• Unacademy’s lessons on frugality: Pay cut for founders, no business class travels.
• Murugappa Group to enter EV business, launch 3-wheelers by September 2022.
• IOC, BPCL, and HPCL may post Rs. 10,700 Cr. combined loss in Q1 as per the report.
• New accounts opened via SIPs slacken in June, and discontinuity increases.
• NBFCs, HFCs securitization volume doubled to Rs. 33,000 Cr. in April-June as per the report.
• Centre should privatise all public sector banks except SBI said the National Council of Applied Economic Research.