Daily Stock Market News Snippets- 24 August 2022

Markets – Global & India

• The US Markets were down by around 0.22% to 0.47%
• The Brent Crude Oil price is currently at $100 per barrel.
• India’s 10-Year G-Sec Yield is at 7.28% and US 10-Year G-Sec Yield is at 3.05%.
• Rupee at 79.85 per dollar.

Global Economy:

• Energy crisis deepens in Europe as a high temp, drought hits power supply
• Euro zone business activity contracted for the second straight month in August: Flash PMI
• Oil prices climbs as tight supply moves back into focus.

Indian Economy:

• Merchandise exports likely to be around $470-480 bn in FY23: Commerce Secy
• RBI aims to bring down inflation to 4% in two years: RBI Governor Shaktikanta Das
• RBI set to hike interest rates by another 50-60 bps, inflation key concern.

Company Update:

• Adani media arm to purchase 29.18% stake in NDTV, launch an open offer
• Adani’s ports-to-power conglomerate ‘deeply overleveraged’: CreditSights
• Reliance Retail enters general trade with its own FMCG grocery brands
• Tata Motors signs PPA with Tata Power to develop an onsite solar project
• HDFC Bank plans Rs 2,500-crore tier-1 bond sale amid firm credit offtake
• SpiceJet exploring stake sale to raise Rs 2,000 cr, says CMD Ajay Singh
• Indian EV market to hit annual sales of 1.7 Cr. units by 2030: Report
• Hindalco Industries earmarks about $8-bn Capex over next 5 yrs: K M Birla
• Radhakishan Damani to be at the helm of Rakesh Jhunjhunwala Trust