Daily Stock Market News Snippets- 21 September 2022

Global Economy:

• Treasury yields highest in over a decade before Fed meeting; dollar gains
• German central bank sees signs of recession ‘multiplying’
• Russia likely to flood Asia with fuel as Europe ramps up sanctions.

Indian Economy:

• CEA says India is poised to grow at 7% this year and for the rest of the decade.
• Govt working on PLI scheme for more products to boost manufacturing: Goyal
• Overall credit market grows 11.1% to Rs 174.3 trillion in FY22: Report
• Tourism to contribute $250 billion to GDP by 2030, India to grow 7-9% – Govt
• Other nations showing interest in India’s payment ecosystem: FM Sitharaman

Stock Specific News:

• India Inc’s FY22 Capex rises 9.1% YoY but lags pre-Covid growth
• US market growth expectations drive healthy gains for Cipla stock
• Adani Group pledges stake worth $13 bn in ACC, Ambuja Cements
• KKR, Hero Group to invest $450 mn in Hero Future Energies
• Yes Bank to sell stressed assets worth Rs 48k cr to JC Flowers ARC
• Govt orders and private Capex fuel KEC International’s order book
• M&M to acquire Swaraj Engines’ 17.41% stake from Kirloskar Industries
• Hero Moto ties up with HPCL to set up electric two-wheeler charging infra