Daily Stock Market News Snippets- 17 May 2022

Markets – Global & India

• The US Markets were flat to negative on Monday.
• The Brent Crude Oil price is currently at $114 per barrel,
• The US 10-Year G-Sec Yield is at 2.88% while India’s 10-Year G-Sec Yield is at 7.32%.
• India’s Market Cap to GDP ratio currently stands at 103%
• Nifty50 PE Ratio is at 19.72 and Sensex PE is at 21.54.

Currency & Dollar Index:

• Indian Rupee again hit the all-time low of Rs. 77.82 per dollar.
• The dollar index is at 104.25 from the earlier 104.47.

Economy:

• Oil prices rise on China’s Demand recovery
• Wheat prices hit a record high in Europe after India bans the export of Wheat.
• RBI’s move to raise rates, good monsoon will help contain inflation: CII President Sanjiv Bajaj

IPO:

• LIC IPO will get listed today. Grey Market Premium (GMP) suggests a discount of Rs. 30.

Merger & Acquisitions:

• As per Experts, the Adani-Holcim deal may trigger consolidation in Cement Industry.
• HDFC, HDFC Life insurance acquires a stake in Xanadu Realty (A Real Estate Business Accelerator Firm)
• Mamaearth Parent HCPL Acquires majority stake in skincare brand Dr.Sheth’s
• Adani Group to buy 49% in Raghav Bahl-run Quint, a Digital Business New Platform

Company Update:

• After a $10.5 billion deal, Adani makes an open offer for Ambuja & ACC stake.
• Reliance Retail plans big beauty & cosmetics foray from Top to Bottom
• L&T aims to go to zero debt by end of FY23, selling off two non-core businesses: CEO
• Infosys rolls out large pay hikes and retention bonuses. Around a 12%-13% hike in August is expected.
• Startup layoffs may worsen as Investor pressure mounts.
• Adani Group’s Gross Debt is at an all-time high level of Rs. 2.2 Lakh Cr. while the Interest Coverage Ratio of the group is at 2.5-2.6.