Daily Stock Market News Snipptes- 20 October 2022

Markets – Global & India

• The US Markets were down by 0.33% to 0.85%
• The Brent Crude Oil price is currently at $92 per barrel.
• India’s 10-Year G-Sec Yield is at 7.45% and US’s 10-Year G-Sec Yield is at 4.14%.
• Rupee at 83 per dollar.

Global Economy:

• UK Inflation returns to a 40-year high of 10.1% as food price rise.
• Global Steel Demand downgraded, to drop 2.3% in 2022: Worldsteel
• Global Copper Market to have a surplus of 1,55,000 tonnes in 2023, says ICSG (International Copper Study Group)

Indian Economy:

• The rupee declines 0.8% and closes at a fresh all-time low of Rs. 83/Dollar.
• Inflation to fall below 6% next year amid RBI rate hikes: Ashima Goyal
• India to examine Russia oil price cap as refiners line up Dec crude buys.
• Risk to India’s sovereign rating from external pressures limited: Fitch

Stock Specific News:

• Ultratech Q2 Net Profit falls 42% to Rs. 756 Cr. on high energy costs.
• KPIT Tech Q2 Net Profit rises 28% to Rs. 83 Cr., revenue up 17.2%.
• Nestle India’s profit was up 8.3% in the September quarter and net sales growth was at a 5-year high.
• Havells Q2 net profit dips 38% to Rs. 187 Cr., and revenue rises 13.6%.
• Syngene International’s net profit rises 53% to Rs. 102 Cr. in Q2.
• Committed to completing the open offer process for 26% NDTV Stake: Adani Group
• Major Asset Management Companies (HDFC & Nippon) reported muted results in 2^nd quarter.