Stock market news that you should not miss today

11 Feb 2022 , 07:40 AM

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

• Markets to open on a negative note; support @17,200, resistance at 17,800.
• FIIs sold shares worth Rs1732.58cr (cash), bought Rs2727.23cr in index futures.
• US markets closed lower. Asian Markets opened in the red
• Brent crude was trading 0.45% lower at $91.00 per barrel.
• Hero MotoCorp reported a net profit of Rs686 crore in Q3FY22 as compared to Rs1,084.47 crore during the same quarter last year. This is about a 36.7% decline in the PAT on a year-on-year basis.
• Mahindra & Mahindra (M&M) recorded a standalone net profit at Rs1,353.07 crore, up 154.88% during Q3FY22 compared with Rs530.86 crore reported in the same quarter last year.
• Hindalco Industries logged a consolidated net profit at Rs3,675 crore in the Q3FY22, up 95.79 per cent year-on-year. The company stated that it was their highest ever profit. The figure stood at Rs1,877 crore in the corresponding quarter of last year.
• Torrent Power: The company acquired 25 MW solar power plant from Blue Diamond Properties & Balrampur Chini.
• Cummins India: Total Sales for Q3FY22 quarter at Rs1,701 crore increased by 21% compared to the same quarter last year and 1% compared to the preceding quarter. Profit before tax at Rs320 crore is higher by 5% compared to the same quarter last year and 9% compared to the preceding quarter.
• Page Industries: Revenue at Rs11,898 million, up 28.3 % yoy, Reported Profit After Tax at Rs1,746 million; up 13.6 % yoy. PAT margin at 14.7 %. In Q3FY22, the company recorded all-time-high Revenues and PAT with increasing market presence.
• AXISCADES delivers another quarter of strong and consistent results with robust improvement in profitability. PAT for Q3FY22 stands at Rs79 Million; growth of 185.7% qoq.
• Zomato: The company posted loss at Rs63.2 crore in Q3FY22 against loss of Rs352.6 crore in Q3FY21; revenue jumped to Rs1,112 crore from Rs609.4 crore yoy.
• Rashtriya Chemicals & Fertilizers: The company reported a sharply higher profit at Rs143.15 crore in Q3FY22 against Rs98.7 crore in Q3FY21. Revenue jumped to Rs3,699.21 crore from Rs2,047.88 crore yoy.
• Tata Chemicals: The company’s profit shot up to Rs300.98 crore in Q3FY22 against Rs160.85 crore in Q3FY21, and revenue rose to Rs3,141.58 crore from Rs2,606.08 crore yoy.
• Trent: The company recorded sharply higher profit at Rs113.78 crore in Q3FY22 against Rs64.03 crore in Q3FY21. Revenue jumped to Rs1,499.08 crore from Rs853.63 crore yoy.
• V-Mart Retail: The company recorded higher profit at Rs57.11 crore in Q3FY22 against Rs47.87 crore in Q3FY21, revenue surged to Rs692.02 crore from Rs470.02 crore yoy.
• Sun TV Network: The company clocked higher profit at Rs457.39 crore in Q3FY22 against Rs441.82 crore in Q3FY21; revenue increased to Rs1,033.1 crore from Rs972.34 crore yoy.
• Quess Corp: The company reported higher profit at Rs88.51 crore in Q3FY22 against Rs45.57 crore in Q3FY21; revenue jumped to Rs3,684.98 crore from Rs2,807.88 crore yoy.
• Zensar announced its recognition as a Top Employer in South Africa. Being certified as a Top Employer showcases an organisation’s dedication to a better world of work and exhibits this through excellent HR policies and people practices.