Daily Stock Market News Snippets- 17 October 2022

Markets – Global & India

• The US Markets were down by 1.34% to 3.08%
• The Brent Crude Oil price is currently at $92 per barrel.
• India’s 10-Year G-Sec Yield is at 7.47% and US’s 10-Year G-Sec Yield is at 4%.
• Rupee at 82.41 per dollar.

Global Economy:

• IMF Chief warns of risk of geopolitical fragmentation.
• India may race past Germany, Japan to become third biggest economy by FY28: Report
• Oil flow to Germany resumes after Poland fixed pipeline leak.

Indian Economy:

• India may attract $475 billion in FDI over the next 5 years: CII-EY Survey
• The government is considering extending Rs. 35,000 Cr. PLI Scheme to more sectors like leather, bicycle, vaccine materials, telecom products, toys, some chemicals, and shipping containers.
• India has been a leader in digitalization over the last few years: IMF Official
• World Bank offers to take India’s digitization to the rest of the world: Sitharaman

Stock Specific News:

• HDFC Bank’s Net Profit rises 20% YoY to Rs. 10,605 Cr. in Q2, and NII jumps 19%.
• FPIs withdraw Rs. 7,500 Cr. from Indian Equities in October on rate hike concerns.
• L&T Infotech Q2 Net Profit jumps 23% to Rs. 680 Cr., revenue up by 28.39%.
• D-Mart’s Q2 Net Profit was up 64.13% to Rs. 685.7 Cr., and sales were up 36.6%.
• PE Investments in Realty dip 25% in 2022 on inflation, interest rate spike.
• HDFC twins may merge a few months ahead of schedule: HDFC Bank CFO
• Bank of Maharashtra slashes home loan rate to 8% as part of the festive offer.
• Cement Companies regain pricing power as demand improves from Infra & Construction.