Daily Stock Market News Snippets-30 September 2022

Global Economy:

• Oil prices again inching towards $90 per barrel, and OPEC+ to consider output cut.
• Inflation in Germany hit a double-digit mark of 10.9% for the first time in the last 20 years.
• European Central Bank expected to take an interest rate hike in the coming period.

Indian Economy:

• Central Government has cut FY23 Borrowing’s target by Rs. 10,000 Cr. To Rs. 14.21 Trillion amid strong tax collections
• The government will issue Sovereign Green Bonds for the first time of Rs. 16,000 Cr. To fund green infrastructural projects.
• India’s Current Account Deficit has jumped to 2.8% of the GDP in Q1FY23
• Government must curb the non-essential imports to stem the Indian Rupee fall: CEOs
• The government of India has hiked interest rates on small saving schemes for up to 50 basis points.

Stock Specific News:

• The merger between LIC Mutual Fund and IDBI Mutual Fund is expected to happen within a few weeks: LIC MF MD
• Price hikes unlikely in Electric Scooters: Ola Electric
• Bluedart volume growth momentum likely to sustain during FY23
• Adani Port incorporates its trading arm for aviation-related fuels named ‘Adani Aviation Fuels Limited’.
• SBI files insolvency petition against Jaiprakash Associates in NCLT.
• Hero MotoCorp to invest $60 million in Zero Motorcycles to develop e-bikes