Daily Stock Market News Snippets- 14 March 2022

2 min read
  1. Brent Crude Oil price stood at around Rs. 109 per barrel during the morning of 14th March 2022.
  2. There are some expectations of positive development between the war conditions between Russia and Ukraine.
  3. The 10-Year G-Sec Yield again crossed the mark of 2% and is currently at around 2.04%.
  4. There are no excise duty cuts on petrol and diesel said the Government of India (GoI). Also, GoI is looking for alternatives of Russia for import of Crude Oil prices which can cool down some pressure of Indian Government of rising crude oil prices.
  5. The government of India is having a period till 12th May 2022 to launch its IPO. If the IPO is not launched within this period, Government may need to re-initiate the whole IPO process.
  6. BYJU’s on Friday 11th March 2022 raised $800 million or around Rs. 6,000 Cr. from Sumeru Ventures, Vitruvian Partners, and BlackRock. As part of this fundraise, Byju Raveendran, Founder, and CEO of BYJU’S has made a personal investment of $400 million or around Rs. 3,000 Cr.
  7. The interest rate of the Employees’ Provident Fund Organisation (EPFO has been dropped from) 8.5% to 8.1% for the FY2021-22.
  8. Reserve Bank of India has lifted the curb on new digital initiatives of HDFC Bank.
  9. Navi Technologies is planning to bring IPO for Rs. 3,350 Cr. The company has already filed the Draft Red Herring Prospectus. The issue will be purely fresh. Navi Technologies is being led by Sachin Bansal, who was also the founder of Flipkart.
  10. Ruchi Soya is coming up with a Follow-On Public Offer of Rs. 4,300 Cr. On 24th March 2021. This issue will bring the promoter’s stake to 81%.
  11. The U.S. Food and Drug Association (USFDA) has increased the inspection on Pharma companies in the form of surprise audits, inspection, etc.

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