Infosys is the 2nd largest IT firm in the country regarding market cap. The company reported a rise in its consolidated net profit at 7.2% QoQ for the quarter ended December 2021. As a result, it reached Rs. 5,809 crores after the closing hours on 12 January.
Moreover, Infosys’ consolidated revenue increased 7.7% QoQ to reach Rs. 3,1867. This is said to be a result of its partnership with German auto player Daimler, which was announced in December 2020.
Wipro shares ended in red on 12 January 2022. After the market hours on the said date, this IT firm announced a net profit of Rs. 2,970 crores for Q3 of FY 2021-2022. However, this was higher than its previous net profit of Rs. 2,931 crores during the September quarter of FY 2021-2022.
Further, Wipro’s revenue for Q3 stood at Rs. 20,432.3 crores, which is higher than its previous quarter’s revenue of Rs. 19,667 crores. These figures also point out a 30% YoY growth for the firm, as it reported Rs 15,670 crores in terms of revenue during the same quarter in 2020.
Shares of Easy Trip Planners also ended in red on 12 January 2022. The company recently announced that its board has permitted to issue fully-paid bonus shares out of the free reserves. These shares will be presented at a ratio of 1:1 after getting shareholders’ approval. The company will create free reserves from its profits as of 31 March 2021.
As per Easy Trip Planners’ press release, the date for this will be announced soon.
HeidelbergCement stock ended on the green on 12 January 2022. The company has set up a high-end unit to substitute fossil fuel parts with AF (alternative fuels) in cement manufacturing. This recently commissioned unit at Narsingarh Clinker Unit includes an investment of Rs. 160 million. This will help HeidelbergCement India to get a TSR (Thermal Substitution Rate) of around 5% in the 1st phase. It will increase the TSR to double digits in the future.
Kolte Patil Developers stock moved over 2% after the firm reported growth in the volume of around 28% QoQ. In addition, its volume growth was high by 56% YoY. At the same time, collections were high by 10% YoY and 13% QoQ.
Kalpataru Power stock closed in red on 12 January 2022. Earlier, the company said that it generated Rs. 200 crores by issuing NCDs (Non-Convertible Debentures). A regulatory filing said that it allotted 2,000 NCDs of Rs. 10,00,000 each through a private placement.
According to its filing, the firm will list the NCDs on the wholesale debt market space of the Bombay Stock Exchange (BSE).
The RITES shares of this firm added around 2% after it signed an MoU (Memorandum of Understanding) with SMEC Group. As per the company, it did this to explore infrastructure projects. This MoU will help SMEC and RITES to work together and explore, pursue and identify mutually favourable business opportunities in the Indian infrastructure space.
Container Corporation of India stock ended in green on 12 January 2022. For the December quarter, Container Corporation of India reported impressive volume growth. Further, its domestic volumes increased by nearly 26%. At the same time, import-export volumes grew by 3%. Total volume growth for the company was 6.8% during the December quarter.
The NMDC stock was up by 3% after JP Morgan India deemed it as ‘overweight’. It mentioned that prices of domestic iron ore in India will increase in the coming times. According to the brokerage firm, the breaking-up of the company’s steel plant will also fuel up its performance going ahead.
Vodafone Idea share price went up over 8% after announcing that the Indian government would not take over its operations. A day earlier, the telecom company said that it might convert the payable interest for the deferment of four years on the postponed spectrum installments along with its adjusted gross revenues to equities. This move provides the government with a 35.8% stake in Vodafone Idea.
Bottom Line
Indian benchmark indices went over their psychological levels on 12 January 2022, Wednesday. This is said to be a result of impressive quarterly earnings by companies and constant tracking of global markets.
Source – Moneycontrol
Frequently Asked Questions
The top gainers were power, metal, oil and gas and auto sectors.
Companies such as Titan and TCS were the prominent slow-runners on 12 January 2022.
As of January 2022, Infosys features a market cap of $107.90 billion.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.
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