Daily Stock Market News Snippets- 14 July 2022

2 min read

Markets – Global & India

  • The US Markets were down by 0.15% to 0.67%.
  • The Brent Crude Oil price is currently at $99 per barrel.
  • India’s Market Cap to GDP ratio currently stands at 105%.
  • India’s 10-Year G-Sec Yield is at 7.34% and US 10-Year G-Sec Yield is at 2.94%.
  • Rupee at 79.60 per dollar.

Global Economy:

  • Gasoline and food drive US Inflation data fuels rate high of 9.1% in June.
  • Wall Street falls as Inflation data fuels rate hike fears.
  • The oil Market walking tight rope due to economic, supply rises said International Energy Agency (IEA).
  • Gold slips to near a 1-year low as US Inflation jump bolsters rate hike bets.

Indian Economy:

  • Low Growth and High Inflation are expected this year said N Chandrasekaran.
  • Indian Economy is projected to grow at a rate of 7.1% to 7.6% in the current fiscal said Deloitte India Report.
  • Ministry of Railways to monetize redeveloped stations through REITs.
  • A windfall tax review is more likely now after the fall in global crude prices.
  • Nomura cuts 2023 India GDP forecast to 4.7% amid recession fears.
  • Entry-level automobile sales are under pressure in Q1 as commodity costs mound said SIAM.

Company Update:

  • Mindtree Q1 Results: Order Book remains strong, cautiously optimistic, says CEO. EBITDA Margin at 21.1%, Net Profit Growth of 37% YoY, Attrition Rate at 24.5% (LTM), and Revenue up by 7.7% QoQ and 36.2% YoY.
  • HDFC to raise to Rs. 5,000 Cr. this week via bonds on a private placement basis.
  • CARE Ratings surges 10% as the board considers a share buyback plan on July 20.
  • HCL Tech sees attrition easing in a couple of quarters says, CEO Vijayakumar.

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