Daily Stocks Market News Snippets- 13 July 2022

Markets – Global & India

• The US Markets were down by 0.62% to 0.95%.
• The Brent Crude Oil price is currently at $99 per barrel.
• India’s Market Cap to GDP ratio currently stands at 106%.
• India’s 10-Year G-Sec Yield is at 7.39% and US 10-Year G-Sec Yield is at 2.97%.
• Rupee at 79.60 per dollar.

Global Economy:

• Brent slumps to below $100 a barrel on a firm dollar, a weak demand outlook.
• OPEC forecasts slower oil demand growth in 2023.
• Global stocks and oil prices fall as Investor awaits the US Inflation update.

Indian Economy:

• India’s retail inflation is at 7.01%; IIP growth hits a 12-month high at 19.6%, electricity output at 23.5%, manufacturing at 20.6%, and mining output at 10.9%.
• Rupee hits new low; dealers see domestic currency at Rs. 80 per dollar soon.
• India’s Current Account Deficit is likely to touch $105 billion by this fiscal year, as per the report.
• Government mindful of price movements; to track their item by item. Pointed attack on inflation to continue said Finance Minister Nirmala Sitharaman.

Company Update:

• HCL Tech Q1 Results: Net Profit rises 2.4% to Rs. 3,283 Cr., revenue up by 16.9%, EBITDA margin at 21.2%, and the Attrition rate is at 23.8%.
• ICRA expects Hotel Industry revenues, and margins to return to pre-covid levels in FY23.
• Over 7 million users download Tata Neu App within 7 weeks of launch.
• SBI, ICICI Bank up interest rates on certain foreign currency bank deposits.
• PepsiCo reports double-digit revenue growth in India in the June quarter.
• NMDC to be excluded from Nifty CPSE Index over a move to hive off steel arm.
• IndusInd bank board to mull fundraising via debt route on July 18.
• Indigo starts disciplinary proceedings against technicians who went on mass sick leave.