Nifty IT (+3%), Nifty FMCG (-1%) & more
Nifty rose due to the strong performance of Nifty Auto, Nifty IT, and Nifty Metal.
Tata Motors (+8%) rose after JLR reported a rise of 5.9% YoY in retail sales. Hindalco (+6%) rose after the company's board approved the raising of Rs 700 cr through bond sale. JSW Steel (+6%) rose after the company reported a 17% ( to 6.24 MT) rise in combined crude steel production in Q3.
Nifty IT (+3%) rose to strong performance of TCS, HCL Tech, Infosys, Wipro and Tech Mahindra. Nifty Metal (+3%) rose due to strong performance of NMDC, Hindalco, JSW Steel, Hindustan Zinc, Tata Steel and MOIL. Nifty Auto (+2%) rose due to strong performance of Tata Motors, M&M, Exide Industries, Bosch and Maruti Suzuki.
Weekly Market News
1. Budget may unveil Rs 35,000 cr policy for battery recycling. (Mint)
2. Sona BLW will acquire a 54% stake and voting rights in Serbia-based Novelic for Euro 40.5 million. (Economic Times)
3.TCS Q3 net profit rose by 11% ( to Rs 10,846 cr) and revenue grew by 19% ( to Rs 58,229 cr). (Mint)
4.HCL Tech Q3 consolidated net profit rose by 19% YoY ( to Rs 4,096 cr) and the revenue rose by 20% YoY ( to Rs 26,700 cr). (Economic Times)
5.Infosys Q3 consolidated revenue for the quarter rose by 20.2% ( to Rs 38,318 cr). (Economic Times)
January 16: Federal Bank, Bank of Maharashtra, Angel One, and Tinplate Company quarterly results.
January 17: ICICI Prudential Life Insurance, ICICI Lombard General Insurance, Bank of India, Metro Brands, and Tata Investment Corp quarterly results.
January 18: IndusInd Bank, Persistent Systems, Central Bank of India, and Alok Industries quarterly results.
January 19: HUL, Asian Paints, Hindustan Zinc, Havells India, Au Small Finance Bank, and Polycab India quarterly results.
January 20: Union Bank of India, JSW Steel, HDFC Life Insurance, JSW Energy, Bandhan Bank, and Petronet LNG quarterly results.
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