Daily Stock Market News Snippets- 28 October 2022

Global Economy:

• US economic growth rebounds in Q3 on trade, but demand is slowing.
• World shares turn up after better-than-expected US data; dollar recovers
• European Central Bank hiked rates by 0.75% to 1.5%, the highest since 2009 to fight record inflation.
• Rising Russian oil imports send middle east imports to a 19-month low.

Indian Economy:

• Energy crisis sparked by Ukraine war to speed up green transition: IEA
• India can accelerate green investments to $12.1 trillion by 2050
• India’s textiles sector eyeing $100-billion exports in 5-6 years: Goyal

Stock Specific News:

• India’s sales value improving, but volume growth remains under pressure: HUL’s CEO
• MSCI sets aside Piramal Pharma’s exclusion from the global standard index
• Udaan, a B2B startup raises $120 million; planning for IPO in the next 12-18 months
• Shiprocket becomes the first intercity logistics provider to join the ONDC network.
• SBI Card Q2 net profit jumps 52% to Rs 526 crore on low provisions
• MapMyIndia reports healthy revenue growth in Q2FY23 on YoY as well as QoQ basis; margins contracts