Indices at previous closing
Nifty50: 18,212 ▲156 (+0.8%)
Sensex: 61,150 ▲533 (+0.8%)
Nifty Bank: 38,727 ▲285 (+0.7%)
For more updates on F&O, click here.
Infosys tops the leaderboard
For the December quarter, Infosys outperformed its peers delivering revenue and profit growth of over 7% on a sequential basis. The company’s results were even higher than street estimates, and it has also raised its FY22 revenue forecast to 19.5–20% from 16.5–17.5%.
Meanwhile, TCS reported revenue and profit growth at 4.3% and 1.5%, respectively, which were broadly in line with street estimates. However, both Infosys and TCS saw their employee attrition rates rising to 25.5% and 15.3%, respectively.
Semiconductor woes continue for JLR
For the December quarter, the sales volume of Tata Motors-owned Jaguar-Land Rover fell about 14% sequentially and 38% on a year-on-year basis. As per the company, sales were constrained due to the semiconductor shortage.
Its sales suffered mainly in the UK (-24% QoQ) and the US (-12% QoQ). Meanwhile, the company stated that the underlying demand is strong and it is using available chips for higher margin products. Nonetheless, it expects to deliver positive cash flow of around £150 million for the December quarter. Shares of Tata Motors rose 1% yesterday.
Retail inflation rises
The retail inflation rose sharply to 5.5% in December from 4.9% in November. Higher food prices coupled with rising fuel prices pushed the inflation rate higher. However, the figure is lower than the street expectations of 5.8%.
While the inflation rate is still within RBI’s target range of 2–6%, the third wave poses supply challenges and risks of shortages. This could, in turn, push up the prices further.
Sectoral indices (January 12)
| Top gainers | Top losers |
| Nifty Realty ▲ 1.9% | Nifty Pharma ▼ 0.1% |
| Nifty Auto ▲ 1.4% | NA |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.7% |
| Nikkei 225 (Japan) | ▼ 0.8% |
| Hang Seng (Hong Kong) | ▲ 0.4% |
| SSE Composite (China) | ▼ 0.0% |
| Dow Jones (US) (January 12) | ▲ 0.1% |
| NYSE (US) (January 12) | ▲ 0.3% |
| Nasdaq (US) (January 12) | ▲ 0.2% |
| S&P 500 (US) (January 12) | ▲ 0.2% |
Fact of the day
Every Apple iPhone ad displays the time as 9.41 am, the time Steve Jobs unveiled it in 2007.
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