Daily Stock Market News Snippets- 21 March 2022

1) Brent Crude Oil price is currently ranging at around $110 per barrel.

2) Oil Market Companies have hiked the price of Diesel by Rs. 25 per liter for the bulk buyers.

3) Suzuki Motor Corporation (SMC) has signed a memorandum of understanding (MoU) with Gujarat to invest around 150 billion Yen or around Rs. 10,430 Cr. for local manufacturing of electric vehicles (EVs) and BEV batteries.

4) In the coming 5 years, Japan will invest around Rs. 3.2 Lakh Cr. in India. Japan has signed 6 pacts with India in various fields which require investment. These pacts are Cybersecurity, Economic Partnerships, Waste-Water Management, Urban Development, Clean Energy, Promoting Bamboo products from the Northeast.

5) Reliance Retail has acquired an 89% equity stake in Purple Panda Fashions, which owns and operates Clovia- a direct-to-consumer brand for women’s innerwear and loungewear.

6) On account of increased raw material cost, labor cost, etc. there is supply-side inflation in the market were around there is an increase in price in the B2B premium segment by around Rs. 400 to Rs. 600, and Rs. 200-Rs. 250 in B2B affordable segment.

7) As per the news reports, the Super App of Tata Group is going to launch on 7^th April 2022. The Name of Tata Super App is TataNeu. TataNeu will be a one-stop solution to access all the products & services of Tata Group.

8) FMCG Companies might go for another price hikes round of around 10% on account of inflationary pressure of raw material commodities.

9) India’s FOREX Reserve has gone down by around $9 billion majorly on the account of heavy foreign outflows in the market-leading to the increasing demand for the Dollar, the current FOREX reserve balance is $622 billion.