On the sectoral front, metal, pharma, power, oil & gas and capital goods indices rose 1-3 percent, while bank and realty indices fell over 0.5 percent each. BSE midcap and smallcap indices ended in the green.
Benchmark indices ended with marginal gains in the volatile session on January 13 with buying seen in the metal and pharma names. At close, the Sensex was up 85.26 points or 0.14% at 61,235.30, and the Nifty was up 45.50 points or 0.25% at 18,257.80.
Wipro | CMP: Rs 650.05 | The stock price tumbled 6 percent after the company reported a 3 percent sequential growth in revenues for the quarter ended December in constant currency terms. Brokerage firm Morgan Stanley believes that the disappointment on the growth front in the face of elevated industry expectations could result in a sharp sell-off in the stock going ahead.
Infosys | CMP: Rs 1,895.30 | The share price ended in the green after the IT major reported a 7.2 percent quarter-on-quarter rise in its consolidated net profit for the quarter ended December to Rs 5,809 crore. Credit Suisse has kept an outperform call on the stock and raised the target price to Rs 2,350. Morgan Stanley has kept overweight rating on the stock and raised the target price to Rs 2,250 from Rs 2,110.
Supreme Engineering | CMP: Rs 24.80 | The stock added 2 percent after the board approved the sub-division/ split of equity shares of the company from face value of Rs 10 each into Re 1 each as decided by the board, subject to approval of members through postal ballot, company said in its release.
TVS Motor Company | CMP: Rs 659.50 | The share ended in the green on January 13. TVS Motor announced a strategic partnership with Swiggy. This partnership highlights TVS Motor Company’s commitment to strengthen electrification across diverse mobility segments and aligns with Swiggy’s many efforts to enable the adoption of EVs in its delivery fleet. As part of the MoU, TVS Motor and Swiggy will test the implementation of TVS Motor’s EV for food delivery and other on-demand services of Swiggy.
CESC | CMP: Rs 92.30 | The stock price ended in the red after the company reported consolidated net profit which was up 0.3 percent at Rs 329 crore against Rs 328 crore (YoY). Consolidated revenue was up 1.5 percent at Rs 2,826 crore against Rs 2,784 crore (YoY). Consolidated EBITDA was down 25.9 percent at Rs 545 crore against Rs 735 crore (YoY). Consolidated EBITDA margin at 19.3 percent against 26.4 percent (YoY).
IRFC | CMP: Rs 23 | The scrip ended in the red on January 13. Fitch Ratings has assigned Indian Railway Finance Corporation Limited’s (IRFC, BBB-/Negative) proposed US dollar 144A senior unsecured bond a rating of ‘BBB-‘. The proposed bond will be issued from IRFC’s existing global medium-term note programme. Proceeds will be used to fund the acquisition of rail assets, which IRFC will lease to Indian Railways, and to meet the debt-financing requirements of entities operating in the domestic railway sector.
Vishal Fabrics | CMP: Rs 122.50 | The share price jumped over 12 percent on January 13. The meeting of board of directors of Vishal Fabrics will be held on January 27, 2022 to consider, approve and take on record the Un-Audited Financial Results along with Limited Review Report of the Company for the quarter ended December 31, 2021.
Ramkrishna Forgings | CMP: Rs 995.90 | The scrip added over a percent after the firm won an export order to supply spindle worth Rs 575 million over a period of 3 years from one of the jargest TIER-1 manufacturers in North America in CV segment.
Tata Motors | CMP: Rs 512.55 | The stock added over a percent on January 13 even as its wholly-owned subsidiary Jaguar Land Rover (JLR) reported weak sales numbers for the quarter ended December 2021. The retail sales for the quarter ending December 31, 2021 were 80,126 vehicles, down 13.6% (12.6k units) from the preceding quarter ending September 31, 2021 and 37.6% (48.3k units) from the quarter a year ago ending December 31, 2020, company said in a press release.
Sandhar Technologies | CMP: Rs 259.65 | The scrip added over a percent after the company has applied under the production linked incentive (PLI) Scheme for automobile and auto components sector of the Ministry of Heavy Industries, Government of India.
Sandip Das
