Nifty, Sensex May Try to Push Higher – Weekly closing report
Moneylife Digital Team 15 January 2022
We had mentioned in previous week’s closing report that Nifty, Sensex may go sideways.
 
The major indices opened higher this week and closed with gain.
 
 
On Monday, the indices opened higher and ended with gain. On the National Stock Exchange (NSE), 1,475 stocks advanced, 620 declined and 47 remained unchanged with advance decline ratio of 2.38, indicating major strength in broader markets.
 
According to rating agency ICRA, India’s renewable energy capacity addition is estimated to touch 16GW in FY22-23.
 
Paytm closed lower after Macquarie report gave a target of Rs 900 per share and underperform rating.
 
On Tuesday, the indices opened flat and ended with gain. On the National Stock Exchange (NSE), 1,003 stocks advanced, 1,067 declined, and 38 remained unchanged with advance decline ratio of 0.94.
 
The government is set to become largest shareholder in Vodafone Idea as the company has opted to convert the interest on deferred liabilities into equity. Tata Teleservices Maharashtra (TTML) has followed Vodafone Idea and decided to convert full amount of AGR related interest into equity at Rs41. Net present value of this interest is estimated to be Rs 850 crore.
 
Well-known investor Porinju Veliyath has acquired 1.07% stake in Taneja Aerospace.
 
According to Retailers Association of India, retail sales in Dec have grown by 7% as compared to 2019 and 28% as compared to 2020 in the same period.
On Wednesday, the indices opened higher and ended with gain. On the National Stock Exchange (NSE), 1,105 stocks advanced, 942 declined, and 43 remained unchanged with advance decline ratio of 1.17.
 
Delta Corp’s Q3FY21-22 revenue more than doubled to Rs 284 crore and profit also increased multi fold to Rs 70 crore against Rs 1 crore on a year-on-year basis. It has announced IPO of its online gaming subsidiary Gaussian Networks Ltd in the next financial year.
 
Infosys’s Q3FY21-22 net profit increased by 12% to Rs 5,807 crore and revenue grew 23% to Rs 31,867 crore. Wipro’s Q3FY21-22 net profit was flat and revenue from operations increased by 30% to Rs 20,313 crore. 
 
On Thursday, the indices opened higher and ended with gain. On the National Stock Exchange (NSE), 1,077 stocks advanced, 956 declined, and 52 remained unchanged with advance decline ratio of 1.13.
 
TCS’s Q3FY21-22 net sales were up by 16.35% to Rs 48,885 crore and the net profit was up by 12.27% to Rs 8,701 crore on a y-o-y basis. Mindtree’s Q3FY21-22 revenue increased by 6.3% to Rs 2750 crore and net profit was up by 9.7% on a q-o-q basis.
 
Tata Motors global wholesales were up by 2% at 2,85,445 on a y-o-y basis in Q3FY21-22.
 
On Friday, the indices opened gap down and ended flat. On the National Stock Exchange (NSE), 1,173 stocks advanced, 853 declined, and 45 remained unchanged with advance decline ratio of 1.38.
 
Cosmo Films has planned a capital expenditure of Rs 100 crore in film and chemical business for next year.
 
The WPI (wholesale price index) inflation has eased to 13.56% in the month of December as compared to 14.23% in November.
 
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