Daily Stock Market News Snippets of 30 March 2022

2 min read
  1. US markets rose following the news of a reduction of military action in the area of Kyiv and possible peace talks between Ukraine-Russia, Nasdaq grew by approx. 1.8% yesterday while Dow Jones Index saw an increase of around 1 %.
  2. Brent Crude prices have again increased and touched USD 109 levels.
  3. The US 10 year Gsec yield decreased to 2.39%, going forward the changes in interest rate by the Fed will affect any movement in the bond yields.
  4. The Govt. of India has decided to divest a 1.5 % stake in ONGC by the way of an Offer For Sale, the value of money raised by this OFS will be around 3000 crores.
  5. Tata motors are feeling the impact of the increased cost of lithium, the cost of battery manufacturing has increased by around 20%.
  6. ICRA has reduced the forecast of GDP FY 23 to 7.2% from 8%. The forecast was revised as the impact of commodity and crude oil prices will be felt on the GDP numbers.
  7. Ruchi Soya has filed an FIR against the unsolicited SMSes sent to people regarding the upcoming FPO, the script rose after the management denied any involvement in it.
  8. The real estate industry is expected to increase the prices as the impact of the spike in commodity prices has affected the input costs significantly, such inflations are a result of supply-side pressure and will affect the industry in the short-term scenario.
  9. IT department has claimed that Hero Motocorp has recorded 1000 crores of bogus expenses along with 100 crores cash transactions by Pawan Munjal & family, the promoters of Hero Group.
  10. Tata Consumer and Tata Coffee are set to merge, the shareholders of Tata Coffee will get 3 shares of Tata consumer for every 10 shares.
  11. Fuel prices have increased by INR 5 in the last 8 days, these rate hikes will impact inflation.
  12. The debt of 61000 crores has been resolved by the board of IL&FS. The NPAs were around 99,000+ crores which were set to be recovered by the board led by Mr. Uday Kotak.
  13. Tata Sons have received a net amount of 11,164 crores from the buyback of TCS while LIC has received 528 crores.

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