Sensex closed at 61,235, up 85 points, Nifty closed at 18,257 points, up 45 points, Bank nifty closed at 38,469 points, down 257 points.
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Mindtree Results
Revenue was ₹27,500 million (growth of 6.3% q-o-q / 35.9 % y-o-y).
Net profit was ₹4,375 million (growth of 9.7% q-o-q / 34.0 % y-o-y).
Results of Mindtree was good, profit was higher than CNBC estimation.
Other highlights
Clients:
265 active clients as of December 31, 2021.
$5 million+ clients grew by 2, a total of 52.
$10 million+ clients grew by 3, a total of 33.
People:
31,959 Mindtree Minds as of December 31, 2021.
CLSA on Infosys
- Maintains buy rating with a target price of Rs.2,280.
- Q3FY22 highights demand momemtum, efficient cost management.
- A strong beat on revenue, stable margins.
- Medium-term demand outlook is strong.
Morgan Stanley on TCS
- Maintains overweight with a target price of Rs.4,400.
- Better growth more than offsets the margin miss.
- Revenue growth surprises after a gap of 2 quarters.
- Sees room for valuatiob to move up.
BofA on Wipro
- Maintain underperorm with a target price of Rs.700.
- Misses Q3 revenue and Q4 revenue guidance.
- Company is likely to participate in the sector strength.
- Less attractive when compared to its peers.
Tata Motors global Sales in Q3 FY22
The Tata Motors Group global wholesales in Q3 FY22, including Jaguar Land Rover, were at 2,85,445, higher by 2%, as compared to Q3 FY21.
Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in Q3 FY22 were at 1,02,772, higher by 14%, over Q3 FY21.
Global wholesales of all passenger vehicles in Q3 FY22 were at 1,82,673 nos., lower by 3% as compared to Q3 FY21.
Global wholesales for Jaguar Land Rover were 83,110 vehicles ( JLR number for Q3 FY22 includes CJLR volumes of 13,928 units). Jaguar wholesales for the quarter were 13,518 vehicles, while Land Rover wholesales for the quarter were 69,592 vehicles.
Tata Motors JLR Sales
JLR retail sales at 80,126 units, down 37.6% YoY. China sales down 6.9% QoQ, Europe sales down 6.8%.
JLR Q3 retail sales were hit by chip shortage, underlying demand for JLR vehicles is very strong. JLR order book is at 1,54,000 units.
Maruti Suzuki about its Entry into EV
Maruti Suzuki’s first electric vehicle will be out in the market by end of 2024. Maruti Suzuki is looking to build its first EV at the Hansalpur plant in Gujarat, which has a production capacity of 1 lakh Evs per year.
Evs to be exported from Gujarat for Toyota globally, First EV model to be a brand new vehicle from Toyota, Suzuki. The EV development has started as a Toyota-Suzuki joint effort.
Tata Power
LIC increases its stake in Tata power in Q3 to 6.53% from 5.79% earlier.
Dr Lal Path Labs
LIC bought a 1.12% stake in Dr. Lal path labs.
TVS Motor Partners With Swiggy
TVS Motor Company accelerates electrification in the commercial mobility segment; signs MoU with Swiggy.
The partnership is an extension of the mutual commitment between the companies towards increasing the share of EVs in food delivery and on-demand delivery services. The MoU highlights TVS Motor’s electrification prowess and commitment in the electric commercial mobility segment.
Manu Saxena Senior Vice President Said:
TVS Motor Company has been at the forefront of delivering green and connected vehicles to our customers. Our collaboration with Swiggy is a key step towards strengthening the electrification of mobility in food delivery and last-mile delivery services, furthering the easy adoption of EVs amongst customers.
This also marks our foray into showcasing our commitment in the electric commercial mobility segment. We look forward to our alliance with Swiggy, who are the leaders in the Indian food and on-demand delivery market and are leading the way in creating a wide and sustainable e-mobility ecosystem in the country.
Reliance Industries
Reliance Industries signs MoU for an investment of Rs 5.95 lakh crore in Green Energy & other projects in Gujarat
These projects will create 10 lakh direct indirect employment opportunities in the State.
To make Gujarat net-zero and carbon-free, RIL proposes to invest Rs 5 lakh crore in the State over the span of 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development. RIL will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen.
RIL will invest another Rs 60,000 crore in setting up New Energy Manufacturing-Integrated Renewable Manufacturing: 1) Solar PV Module (manufacture of Polysilicon, wafer, cell & module); 2) Electrolyzer; 3) Energy-storage Battery; 4) Fuel Cells.
Further Rs 25,000 crore investments will be made by RIL in existing projects and new ventures over the next 3 to 5 years. RIL has also proposed to invest Rs 7,500 crore over 3 to 5 years for Jio Network up-gradation to 5G and another Rs 3,000 crore over 5 years in Reliance Retail.
Ramkrishna Forgings
Ramkrishna forgings which is one of the leading suppliers of rolled, forged and machined products have won an export order to supply spindle worth INR 575 Million over a period of 3 years from one of the largest TIER-1 manufacturers in North America in the CV segment.
Aurionpro Solutions
Aurionpro solutions wins an order in the data centre segment from TP Western Odisha Distribution Limited (TPWODL), A Tata Power and Odisha Government Joint Venture, for setting up & operationalizing of its data centre in Odisha. The Project will be delivered over six months in two phases consisting of supply, installation, testing and commissioning of MEP (Mechanical, Electrical & plumbing) works and furniture for SCADA control and data centre at TPWODL. The project is valued at close to Rs.8 Crores.
Bata
LIC reduced its stake to 4.6% in Q3 from a 5.85% stake.
ITD Cementation
ITD cementation has won orders valued at around Rs.4,600 crores.
Stock split
Punjab Alkalies chemicals board meeting today to consider the proposal of the stock split.
Tomorrow Results
- HCL technologies.
- Tinplate.
- Infomedia press ltd.
- International travel house.
- Gujarat hotels.
- Space incubatrics.
- Onward technologies.
- Ashirwad capital.
- Refnol resins & chemicals.
- Indokem.
- Swasti vinayaka art & heritage.
- Integrated capital services.
- Swasti vinayaka synthetics.
