Stock market news that you should not miss today

3 Jan 2022 , 07:45 AM

Here is the important stock market news to watch out for today.

• Markets to open on a flat note; support @17,250, resistance at 17,600.
• FIIs bought shares worth Rs575.39cr (cash), bought Rs1165.62cr in index futures.
• US markets closed in the red. Asian Markets opened in the green.
• Brent crude was trading 0.49% higher at $78.16 per barrel.
• TVS Motor Company registered sales of 250,933 units in December 2021 as against sales of 272,084 units in the month of December 2020.
• NATCO Pharma Inc. USA, a wholly-owned subsidiary of NATCO Pharma Limited has completed the acquisition of Dash Pharmaceuticals LLC (“Dash”), a New Jersey-based entity. Pursuant to this, Dash will become a 100% wholly-owned subsidiary of NATCO Pharma Inc. and a step-down subsidiary of NATCO. The acquisition amount paid is US$ 18 million.
• Hero MotoCorp reported its highest-ever sales in global markets outside of India in any calendar year. The Company sold 2.89 Lakh units of motorcycles and scooters in its markets spread across Asia, Africa South and Central America and the Caribbean in calendar year 2021 (JanuaryDecember), clocking a robust growth of 71% over the corresponding period in the previous year (2020) when it had sold 1.69 Lakh units in its markets outside of India.
• Maruti Suzuki India Limited posted total sales of 153,149 units in December 2021. Total sales in the month include domestic sales of 126,031 units, sales to other OEM of 4,838 units and its highest ever monthly exports of 22,280 units.
• Tata Motors Limited announced its sales in the domestic & international market, for Q3 FY22, which stood at 1,99,633 vehicles, compared to 1,58,218 units during Q3 FY21.
• Stove Kraft, through acquisition of business of SKAVA Electric Private Ltd, will foray into the business of manufacturing low voltage switchgear solutions like electrical switches, sockets, distribution boxes, switch boards, M.C.B, bulb holders, etc. The company also announced to foray into Branded Modular Kitchen Segment.
• APL APollo: The Q3FY22 sales volume of 402,729 Ton declined QoQ due to: 1) channel de-stocking in anticipation of steel price correction and, 2) extended monsoons which impacted the construction activity. Moreover, the sales volume in general segment (commoditized sales) was impacted due to rise in price gap between primary steel and scrap steel which benefited the unorganized sector.
• Escorts Agri Machinery (EAM) in December 2021 sold 4,695 tractors as against 7,733 tractors sold in December 2020, a drop of 39.3 percent year-on-year.