Daily Stock Market News Snippets- 24 March 2022

2 min read

1) India’s merchandise exports crossed the mark of $400 billion in FY22. It does not include services, but only merchandise goods exported. In FY18, the merchandise export value was $300 billion, then it went up to $331 billion in FY19, it was $314 billion, and $290 billion in FY21. The majority of Engineering goods are exported to the United States of America, petroleum products are exported highly to UAE. Export of Gems & Jewelry is largely accounted to China, Organic & Inorganic Chemicals to Bangladesh, Drugs & Pharmaceuticals to the Netherlands.

2) US markets were down by around 1 to 1.5% yesterday.

3) Brent Crude Oil price is ranging around $123 per barrel.

4) The US 10- Year G-Sec Yield rate is hovering around 2.31%.

5) TCS concludes the buyback offer of Rs. 18,000 Cr. on Wednesday 23rd March 2022. The offer was subscribed 8.5 times. Tata Sons will be a major beneficiary as they have only tendered the shares. Out of these 18,000 Cr. buyback, Rs. 13,000 Cr. shares are being conducted by Tata Sons.

6) HDFC approves retail home loans to the tune of Rs. 2 Lakh Cr. in FY22. The total asset book of HDFC reached Rs. 6.61 Lakh Cr.

7) IT searches at Hero Motocrop CMD Pawan Munjal’s premises for tax evasion.

8) Covid curbs to end from March 31st, 2022.

9) EV sales volumes at record high levels of 4 Lakh mark in FY22 so far.

10) Ruchi Soya’s Rs. 4,300 Cr. Follow On Public Offer (FPO) opens today. The price band is Rs. 615-Rs. 650. Through this FPO, the company aims to repay debt worth Rs. 3,300 Cr.

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