Daily Stock Market News Snippets- 22 April 20221 min read
1) The US markets were down by around 1%-2% on the indication of the next rate hike of around 0.5% by Mr. Powell.
2) The Brent Crude Oil prices are currently at $108 per barrel.
3) The US 10-Year G-Sec rate is currently trading at 2.93%. While India’s 10-Year G-Sec rate is currently around 7.14%.
4) Early EV adoption, lowering prices, and enhancing safety are on the Government’s agenda.
5) Government may revisit BPCL privatization, including revising the terms of sale.
6) Bank credit grows by 10.09% to Rs. 119.88 Lakh Cr. Bank Deposits grow by 10.06% to Rs. 167.42 Lakh Cr.
7) High on energy, Reliance Industries stocks hit an all-time high. Market capitalization near Rs. 19 Lakh Cr.
8) Regulatory changes are set to change the way wealthy individuals invest in IPOs.
9) Retail Investor’s shareholding in Paytm doubles, Mutual Funds (MFs) buy more shares. The stake of Retail Investors has increased from 3.49% to 7.72% in March 2022, while the stake of Foreign Portfolio Investors (FPIs) has decreased from 9.36% to 4.42%.
10) Elon Musk confirms $46.5 billion lined up and considers a tender offer for Twitter.
11) Future Retail’s lenders reject RIL deal overvaluation.
12) Price hikes drive Nestle revenue which grew by 10.2%, but profit slips by around % on yearly basis.
13) HCL Tech pegs FY23 revenue growth at 12% to 14%. Profit before Interest & Tax (PBIT) margin expectations at around 18%-20% for FY23.