Good morning!
Here are the top stories to start your day.
⭐ HCL Tech beats street estimates
The IT company’s net profit rose 18.7% year-on-year to ₹4,096 crore in the December quarter. The revenue also increased by 19.6% to ₹26,700 crore. The attrition rate, which is the percentage of the employees that leave, dropped sequentially to 21.7% from 23.8% in the September quarter.
⭐ India’s factory output rises
In November, India’s factory output, which is measured through the Index of Industrial Production (IIP) rose 7.1%, according to government data. In comparison, IIP had contracted by 4% in October. Electricity sector (12.7%) recorded the highest growth, followed by mining (9.7%) and manufacturing (6.1%).
⭐ US retail inflation eases
The retail inflation rate in the US declined to 6.5% in December from 7.1% in November. It has declined for the sixth consecutive month. However, the retail inflation rate still remains above the US Fed’s target of 2%.
Global markets (at 9:00 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.10% |
| Nikkei 225 (Japan) | ▼ 1.13% |
| Hang Seng (Hong Kong) | ▲ 0.12% |
| SSE Composite (China) | ▲ 0.60% |
| Dow Jones (US) (January 12) | ▲ 0.64% |
| NYSE (US) (January 12) | ▲ 0.33% |
| Nasdaq (US) (January 12) | ▲ 0.64% |
| S&P 500 (US) (January 12) | ▲ 0.34% |
Fact of the day
Established in 1736, The Wadia Group is the one of the oldest conglomerates in India.