Daily Stock Market News Snippets- 28 June 2022

2 min read

Markets – Global & India

  • The US market was down by around 0.20% to 0.72%.
  • The Brent Crude Oil price is currently at $112 per barrel.
  • India’s Market Cap to GDP ratio currently stands at 103%.
  • The US 10-Year G-Sec Yield is at 3.20% while India’s 10-Year G-Sec Yield is at 7.41%.
  • The rupee is 78.44 per dollar.
  • Nifty PE Ratio is at 19.59 while for Sensex it is 21.65.

Global Economy:

  • The US Could narrowly avoid recession with careful policy adjustments, said IMF.
  • India-EU resumes free trade talks after a 9-year gap.
  • New India-UK free trade treaty text advances at the close of 4th round of talks.

Indian Economy:

  • Recession in advanced economies may help cool inflation in India.
  • Indian Economy gains momentum on pent-up demand for reopenings.
  • World Bank approves a $250 million loan for India’s Road Safety program.
  • Indian Gig economy to have 2.35 Cr. Workers by FY30 as per NITI Ayog Report.

Company Update:

  • Bajaj Auto to buy back shares worth Rs. 2,500 Cr. at Rs. 4,600 each.
  • Maruti Suzuki betting on hybrids over electric vehicles in the clean shift.
  • Vedanta turns to LIC for Rs. 5,000 Cr. as offshore borrowing gets costlier.
  • Tata Consumer Products Limited Annual Reports Update: We will continue to look for acquisition opportunities said Tata Consumer Chairman N Chandrasekaran. The current Operating Environment remains volatile.
  • At Rs. 1.14 Lakh Cr., Credit card spending touched a new high in May 2022 as per RBI data.
  • Moody upgrades Tata Steel’s outlook to ‘Positive’ from ‘Stable’.
  • Indian D2C sales could reach $60 billion by FY27 said the Shiprocket-CII-Praxis study.
  • TVS to bet on EVs; to come up with 5-25 KW products.

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