Stock market news that you should not miss today

7 Jan 2022 , 07:40 AM

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

• Markets to open on a flat to positive note; support @17,450, resistance at 18,100.
• FIIs sold shares worth Rs1926.77cr (cash), bought Rs800.91cr in index futures.
• US markets see volatility. Asian Markets opened mixed.
• Brent crude was trading 0.65% higher at $82.52 per barrel.
• HCL Technologies: The company completed acquisition of 51% stake in German IT Consulting Company, Gesellschaft für Banksysteme GmbH (GBS).
• Ujjivan Small Finance Bank: Gross loan book increased 22% yoy to Rs16,600cr, and disbursements rose 120% yoy to Rs4,800cr, while total deposits jumped 34% to Rs15,600cr in Q3FY22.
• Reliance Industries: Dunzo, India’s leading quick commerce player, has raised $240 million in its latest round of funding. The investment was led by Reliance Retail Ventures, with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital. With an investment of $200 million, Reliance Retail will own 25.8% stake in Dunzo on a fully diluted basis.
• Godrej Consumer Products: At a consolidated level, the company expects to deliver close to high single-digit sales growth in Q3FY22. On the profitability front, it expects quality of profits to improve with sequentially expanding gross margins, however, lower on a year-over-year basis due to unprecedented cost inflation.
• Titan Company: Jewellery business grew by 37% in Q3FY22 yoy, watches & wearables increased by 28%, eye wear by 27% and other businesses grew by 44%.
• Anand Rathi Wealth: The company has declared an interim dividend of 100%, i.e. Rs5 per equity share, for FY22. The company reported consolidated profit at Rs32.03cr in Q3FY22 against Rs13.12cr in Q3FY21 and revenue jumped to Rs105.69cr from Rs68.08cr yoy in the same period.