Daily Stock Market News Snippets- 20 July 2022

Markets – Global & India

• The US Markets were down by 2.5% to 3.5%.
• The Brent Crude Oil price is currently at $107 per barrel.

Global Economy:

• Russia has reportedly stopped the gas pipeline to Germany since July 11.
• EU to soften sanctions on Russia to allow Food Trade.
• China’s Zero Tolerance Policy on Covid and its related restrictions is impacting the global supply chain due to new covid waves and related lockdown.

Indian Economy:

• There is a six-fold jump in Foreign Direct Investment (FDI) in Research & Development (R&D) sector in India in the year 2021.

Company Update:

• HUL reports Net Profit growth of 13.5% YoY. Reported Volume growth of 6% YoY.
• Amul reported a turnover of Rs. 62,000 Cr. in FY22.
• Ambuja Cements’ Net Profit fell by 14% YoY in Q1FY23 due to higher raw material costs and lower demand.
• ICICI Lombard reports a profit of Rs. 349 Cr. reporting growth of around 8% QoQ. The company is focusing highly on Health Insurance.
• Reliance Jio gained 31 Lakh new subscribers in May 2022 whereas Airtel gained 10 lakh, new subscribers. Vi lost 7.5 lakh subscribers.
• Godi India to bring out first domestic-made lithium-ion cell by August
• Passenger vehicle exports rose to 1,60,263 units in the April-June quarter. Here, Maruti Suzuki tops the list with sales of over 45,000 vehicles.