Pre Market Analysis: Dalal Street may open higher; TCS, Infosys and Wipro in news today

Market Opening - An Overview

SGX Nifty futures were trading 0.76% higher at 18,354.50, signalling Dalal Street was headed for a positive start. 

Asian shares were trading lower despite gains on Wall Street after data showed another spike in consumer prices. Nikkei 225 was down 0.86%, Topix fell 0.56%, Hang Seng rose 0.43% and CSI 300 fell 0.44%.

The Indian rupee closed flat at 73.91 against the US dollar on Wednesday.

India’s inflation based on Consumer Price Index rose to 5.59% in December from 4.91% in November. Meanwhile, Government data showed Index of Industrial Production grew 1.4% in November.

Upcoming Earnings

Mindtree, Tata Metaliks, Aditya Birla Money, CESC, Athena Global Technologies, Eureka Industries, Gautam Gems, GTPL Hathway, Mega Corporation, Mishtann Foods, Palm Jewels, Plastiblends India, Rotographics (India) and Surana Solar

FII/DII Trading Data (12-01-2022)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Tata Consultancy Services: The company reported higher consolidated net profit at Rs 9,769 crore in Q3FY22 as against Rs 9,624 crore in Q2FY22. Revenue from operations jumped to Rs 48,885 crore in Q3 from Rs 46,867 crore on a sequential basis. It also approved buyback of 4 crore equity shares for up to Rs 18,000 crore, at a price of Rs 4,500 per share. The board of directors have declared a third interim dividend of Rs 7 per equity share of Rs 1 each of the company.

Infosys: The IT bellwether reported 12% rise in consolidated net profit at Rs 5,809 crore for the quarter ending December 2021, as against Rs 5,197 crore in year-ago period. Consolidated revenue rose 23% to Rs 31,867 crore as against Rs 25,927 crore a year ago. The company revised its revenue guidance for FY22 upwards to 19.5%-20% on a constant currency basis

Wipro: The company reported a consolidated net profit of Rs 2969 crore in Q3FY22 compared with Rs 2968 crore in the year-ago period. The operating revenue stood at Rs 20313.6 crore in the Oct-Dec quarter of FY22 as against Rs 15670 crore in the year-ago period. The company’s board has also declared an interim dividend of Rs 1 per equity share.

Ashok Leyland: The truck maker and Aidrivers, a global specialist in AI-enabled autonomous solutions across industrial mobility, have joined hands for the development of AI-enabled autonomous vehicles to meet the needs for a sustainable future. The two companies have signed a Memorandum of Understanding (MoU) for a long-term collaboration.

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. Wholesale volumes were 69,182 units and production volumes were 72,184 units in the period.

Dixon Technologies: The electronic goods manufacturer said it has entered into a joint venture with Japan-based Rexxam Co Ltd for manufacturing of printed circuit boards (PCBs) for air conditioners for domestic and international markets. Dixon Devices, the joint venture company, will be 40 per cent owned by Dixon and the rest 60 per cent by Rexxam, according to a statement.

CDSL: The company’s wholly-owned subsidiary CDSL Ventures has been granted recognition as an accreditation agency by markets regulator Sebi. With the recognition, CDSL Ventures will be able to issue accreditation certificates to “accredited investors”.

Aditya Birla Fashion and Retail Limited (ABFRL): The clothing retailer announced collaboration with Germany’s GIZ, a move aimed at strengthening circular business practices for the Indian market. The joint project will focus on material innovation, reducing inputs of harmful substances, increasing textile-to-textile recycling, developing alternatives to plastic packaging, and fostering traceability, according to a joint statement from ABFRL and GIZ.

Motherson Sumi Systems (MSSL): The automotive manufacturing company is looking to expand business in four key non-automotive areas namely the aerospace, logistics, technology and industrial solutions, and health and medical. The company plans to leverage their existing business strength of global presence, product design and development expertise to diversify into non-auto segments. The company expects that the new verticals will generate 25 percent of revenue by 2025.

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 Rs 695 crore of loans, which included unsecured loans like personal and business loans and secured loans like home loans and loan against property.

RailTel: The company has decided to create several “edge data centres” in rural and semi-urban areas to bridge the digital divide in the country and also accelerate the pace of digital transformation. These are small data centres located at the edge of the network, where they are closer to end users and devices.