Stock market news that you should not miss today

14 Feb 2022 , 07:45 AM

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

• Markets to open on a negative note; support @17,050, resistance at 17,600.
• FIIs bought shares worth Rs108.53cr (cash), sold Rs696.9cr in index futures.
• US markets closed lower. Asian Markets opened in the red
• Brent crude was trading 1.32% higher at $95.69 per barrel.
• ONGC: The company reported a 45% yoy growth in revenue to Rs1,45,685 crore in Q3FY22 driven by higher realization in its core oil and gas business, Net profit zoomed 220% to Rs11,637 crore, powered by strong growth in EBITDA margin. Both revenues from exploration & production (E&P) and retail & marketing businesses grew by 67% and 40% respectively, while EBITDA margin was up grown by 350 bps year-on-year to 14.7%.
• TVS Motor: Promoter Sundaram Clayton on Friday sold around 95 lakh shares or a 2% stake in the company at an average price of Rs635.97 per share via an open market transaction on the BSE. With this sale, Sundaram Clayton stake will be at around 50.26% from 52.26% earlier.
• Rategain Travel Technologies: The company turned profitable in Q3FY22 reporting profit at Rs0.085 crore driven by strong growth in new contract wins, against loss of Rs1.89 crore in previous quarter and loss of Rs11.14 crore in year-ago period. Revenue grew by 57.4% to Rs99.01 crore during the quarter as the company added 778 new clients and reported overall 215% growth in new contracts compared to the previous fiscal.
• Coal India and Eicher Motors will announce their quarterly earnings on Monday.
• Kalpataru Power Transmission: Profit in Q3FY22 dropped 12.3% to Rs270 crore yoy due to a challenging operating environment laden with inflated input prices and competitive pressure. Revenue rose 11% to Rs3,889 crore yoy led by robust project execution in B&F, water and international T&D subsidiaries.
• Indigo Paints: The company clocked 29.4% yoy jump in net profit at Rs24.30 crore in Q3FY22 due to strong revenue growth and increase in product prices in mid-late Q3 to mitigate the sharp escalation in raw material prices. Revenue rose 26.6% to Rs265.46 crore yoy.
• VA Tech Wabag: The company reported 19.6% yoy growth in profit at Rs45.49 crore as EBITDA margin improved by 180 bps yoy to 10.6%. Higher project mix of industrial & international orders and execution pace helped the company improve margins. Revenue drops 6.3% to Rs745.48 crore yoy.
• Force Motors: The net loss widened to Rs39.90 crore in Q3FY22 against Rs14.94 crore a year ago due to increase in raw material prices. Revenue jumped 57% to Rs778 crore yoy in during the quarter.
• Metropolis Healthcare: The company posted a 29.7% yoy decline in its net profit in Q3FY22 at Rs41.21 crore as EBITDA margin dropped by 530 bps yoy to 27.5% due to increase investments in digital and marketing, manpower & customer experience initiatives in order to strengthen its brand. Revenue in Q3FY22 rose 6.6% to Rs293 crore yoy with sharp drop in volumes from government contracts.