Markets – Global & India
- The US Markets were down by -0.45% to 0.90%
- The Brent Crude Oil price is currently at $91 per barrel.
- India’s 10-Year G-Sec Yield is at 7.27% and US’s 10-Year G-Sec Yield is at 3.45%.
- Rupee at 79.65 per dollar.
- Goldman cuts US growth forecast for 2023 after rate path change from 1.5% to 1.1%.
- British Pound hits a 37-year low as UK economy skids at $1.14.
- Russia pursues active economic outreach with South Asia to meet key local demands.
- Net Direct Tax Collection for FY23 grew 23% to over Rs. 7 Lakh Cr. between 1st April to 17th April 2022.
- Current Account Deficit likely to remain within 3% of GDP: RBI Article
- India’s Economic Growth to be sustained by consumer spending rebound.
Stock Specific News:
- Adani’s foray is expected to trigger consolidation in the cement industry.
- ONGC wants Government to scrap windfall tax, and use the dividend to tap into earnings.
- FPIs infuse Rs. 12,000 Cr. in Indian equities in September in hopes of slow rate hikes.
- The insurance industry will continue to see M&A deals and new entrants.
- OLA does a U-turn; plans more experience centres to take the count to 200.
- Firms starting to pass on rising cost amid pick-up in demand: RBI Study
- Mahindra Group sells a 30% stake in its renewable arm for Rs. 2,317 Cr.
- Amara Raja bets on EV Sector; expects turnover to touch Rs. 3,000 Cr. by 2025.
- Voltas’ valuation lowest since January 2021 on demand concerns.