Daily Stock Market News Snippets- 18 July 20222 min read
- Corporate Funding in Global Solar Sector has reduced by 11% to $12 billion in the first half of FY22 due to the possible impact of Quantitative Easing Tapering by the Fed Reserve.
- China has opened its market for Exchange Traded Funds (ETFs) inflows. It is expected that there will be an inflow of $180 billion over the next 10 years in the ETF in China & Hong Kong.
- US Manufacturing Output consistently declines for the second month by .2%. The major fall is in metal related industry.
- Home Prices in China have fallen continuously for the 10th month. Residential Sales are serious concerns in China where sales have dropped by 23% YoY in June 2022. China’s Real Estate Sector is worth $2.4 Trillion.
- RBI Said that Quantitative Easing Tapering (Q.E. Tapering) to squeeze extra liquidity in the market by the Fed Reserve has not impacted much to India as compared to Q.E. Tapering of the year 2013.
- India’s Forex Reserve is at $588 billion at the start of July against the high levels of $637 billion in October 2021. Forex Reserves of India have been depleting as RBI is protecting domestic currency against US Dollar.
- With the depreciation in domestic currency (Indian Rupees), the Current Account Deficit of the country is increasing.
- L&T said in its Annual Report, that the group expects much improvement in its IT & Tech services business. The company expects this business to derive revenue of around 20% by 2026.
- Tata Steel to invest Rs 12,000 cr in FY23 on India, and Europe operations as per the CEO. The company will also spend Rs. 12,000 Cr. on inorganic growth opportunities like strategic acquisitions.
- HDFC Bank Q1FY23 Result Takeaways: Net Profit up by 20.9% YoY, Robust Credit Growth, Total Assets Under Management is 13.5 Lakh, Asset Quality deteriorates sequentially, Stable margins and CASA Ratio.
- HDFC Bank to Consider IPOs for HDFC Securities, HDB Financial Services after merger said Company’s MD.
- AC sales touch record 60 Lakh units in the first half of 2022 amid scorching heat. Here, Voltas is the biggest beneficiary which sold 12 Lakh units out of 60 Lakh units.
- HDFC Bank lost Rs 50,000 Cr. corporate loans as competitors offered lower rates in the last few months.
- In Startup Funding, Fintechs attract nearly Rs.48,000 Cr in April-June 2022