Stock market news that you should not miss today

13 Jan 2022 , 07:45 AM

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

• Markets to open on a flat to negative note; support @17,950, resistance at 18,400.
• FIIs sold shares worth Rs1001.57cr (cash), bought Rs1332.01cr in index futures.
• US markets end marginally higher. Asian Markets opened in the red.
• Brent crude was trading 0.11% lower at $84.58 per barrel.
• Tata Consultancy Services reported a higher profit at Rs9,769cr in Q3FY22 against Rs9,624cr in Q2FY22, revenue jumped to Rs48,885cr from Rs46,867cr qoq. It also approved a buyback of 4 crore equity shares for up to Rs18,000cr, at a price of Rs4,500 per share.
• Infosys reported a higher profit at Rs5,809cr in Q3FY22 against Rs5,421cr in Q2FY22, revenue rose to Rs31,867cr from Rs29,602cr qoq.
• Wipro reported higher revenue at $2,639.7 million in Q3FY22 against $2,580 million in Q2FY22 and expects constant currency revenue growth at 2-4% for Q4FY22.
• Tata Motors: JLR retail sales dropped 37.6% yoy to 80,126 units in October-December 2021, with China sales falling 6.9% and Europe sales down 6.8% QoQ.
• Kotak Mahindra Bank: The bank passed resolution to cap promoters’ voting rights at 26%.
• Lumax Industries: The company has commenced its commercial production, of electronic components for automotives, at its new manufacturing plant situated at Bawal, Haryana.
• PB Fintech: Paisabazaar has reached an annualised loan disbursal rate of $1.1 billion (excluding credit card issuance). In December 2021, the fintech disbursed around Rs695cr of loans, which included unsecured loans like personal and business loans and secured loans like home loans and loan against property.