Stocks in Focus on January 13: TCS, Infosys, Wipro, Tata Motors, PB Fintech and many more
Stocks in Focus on January 13: Domestic stock markets closed with strong gains on Wednesday, January 12, 2022. The S&P BSE Sensex, advanced 533.15 points or 0.88% at 61,150.04.
Domestic stock markets closed with strong gains on Wednesday, January 12, 2022. The S&P BSE Sensex, advanced 533.15 points or 0.88% at 61,150.04. The Nifty 50 index gained 156.60 points or 0.87% to close at 18,212.35. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, January 13, 2022. List of such five stocks:
Q3FY22 Earnings: TCS + Infosys + Wipro
TCS: The largest IT company in India Tata Consulting Services (TCS) on Wednesday reported a 1.5% QoQ rise in the consolidated profit at Rs 9,769 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 9,624 crore in the previous quarter ended September 30, 2021. Its revenue from operations grew 4.3% QoQ to Rs 48,885 crore in the reported quarter compared to Rs 46,867 crore posted in the September quarter. Revenue in dollar terms grew 3% QoQ to $652.4 crore in December 2022 quarter compared to $633.3 crore posted in September 2021 quarter. The company’s EBIT grew 2% QoQ to Rs 12,237 crore compared to Rs 12,000 crore posted in the previous quarter. Margins declined to 25% in Q3FY22 from 25.6% posted in Q2FY22. Besides, TCS has announced a third interim dividend of Rs 7 per share. The record date for the dividend is January 20 and the dividend will be credited by February 7. It also announced share buyback at Rs 4,500 per share, at a premium of 16.67 per cent over the last traded price of the stock. The company will buy back shares worth Rs 18,000 crore. The company has achieved a milestone of hitting the $25 billion annual revenue mark (CY2021). All Industry Verticals Grow Mid- to High Teens. It said that company’s IT Services attrition rate was at 15.3% in Q3FY22 against 11.9% in Q2FY22.
See Zee Business Live TV Streaming Below:
Infosys: IT major Infosys on Wednesday reported a 7.2% QoQ rise in its consolidated profit at Rs 5,809 crore for the quarter ended December 31, 2022. It had posted a profit of Rs 5,421 crore in the previous quarter ended September 30, 2021. Its revenue from operations grew 7.7% QoQ to Rs 31,867 crore in Q3FY22 compared to Rs 29,602 crore posted in the previous quarter. Its revenue in dollar terms grew 6.3% QoQ to $425 crore compared to $399.8 crore posted in the September quarter. The Bengaluru-based company's EBIT grew by 7.3% QoQ to Rs 7,484 crore compared to Rs 6,972 crore posted in the previous quarter. Its margin remained almost flat at 23.5% in Q3FY22 compared to 23.6% in Q2FY22. The company’s Constant Currency (CC) revenue grew 7% QoQ. The company upgraded its revenue guidance from 19.5% to 20% for FY22. It maintains its margin guidance at 22% to 24%. Infosys digital revenues was 58.5% in December 2021 quarter compared to 56.1% posted in September 2021 quarter. The company’s attrition level stood at 25.5% in Q3FY22 against 20.1% reported in Q2FY22.
Verticals CC (yoy)
Finance 15.50%
Retail 19.80%
Communication 22.20%
Geography CC (yoy)
North America 21.40%
Europe 27.20%
Wipro: IT major Wipro on Wednesday reported a 1.3% QoQ rise in its consolidated profit at Rs 2,969 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 2,930 crore in the previous quarter ended September 30, 2021. Its revenue from operations grew 3.3% QoQ to Rs 20,314 crore in the reported quarter compared to Rs 19,667 crore posted in Q2FY22. The company's IT services revenue in dollar terms grew 2.3% QoQ to $263.97 crore compared to $258 crore posted in the previous quarter. IT services operating margin was flat at 17.6% in Q3FY22 compared to 17.8% posted in Q2FY22. Its EBIT grew 4.6% to Rs 3,553 crore in Q3FY22 against Rs 3,397 crore posted in Q2FY22. The company’s constant currency growth stood at 3%. The company has provided Q4 revenue guidance of 2-4%. Besides, the Board of Directors of Wipro has declared an interim dividend of Rs 1 per equity share. The record date has been fixed on January 24, 2022, and the payment for the interim dividend will be made on or before February 5, 2022. The attrition rose to 22.7 per cent (voluntary TTM) in Q3 from 20.5 per cent in the preceding quarter.
Tata Motors: The company has posted its Q3FY22 JLR retail sales update and said that the retail sales for the quarter ending December 31, 2021, were 80,126 vehicles, down 13.6% (12.6k units) from the preceding quarter ending 30 September 2021 and 37.6% (48.3k units) from the quarter a year ago ending December 31, 2020. Retail sales declined 1.2% YoY to 4,20,856 units of JLR. Besides, sales of Range Rover dropped 34.5% in the reported quarter to 65,719 vehicles. Retails were lower across all regions compared to the preceding quarter, including China (-6.9%), Europe (-6.8%), North America (-11.8%), UK (-24.3%), and Overseas (-25.4%). JLR’s retail sales for the three-month period continued to be constrained by the global semiconductor shortage, though the Company started to see some improvement in chip supply and wholesale volumes compared to the preceding quarter. The underlying demand for Jaguar Land Rover products remains strong and the Company has proactively managed semiconductor supplies to maximise the production of higher-margin products. Looking ahead, the chip shortage remains dynamic and difficult to forecast, however, the company expect supply to continue to improve in Q4 of the fiscal year ending March 31, 2022. In addition, at the end of January, Jaguar Land Rover expects to report unaudited results for the three months ending 31 December 2021. The initial estimated cash flow for the quarter is around £150 million positive.
PB Fintech: Paisabazaar.com, India’s largest digital marketplace for consumer credit, has announced that it has reached an annualised loan disbursal rate of $ 110 crore (excluding credit card issuance). In December 2021, the fintech disbursed Rs 695 crore of loans, which included unsecured loans like personal and business loans and secured loans like Home Loans and Loan Against Property. The company provides access to credit across 668 cities.
Dixon Technologies: The Company and Rexxam have entered into a joint venture agreement to form a joint venture company for undertaking the business of manufacture of Printed Circuit Boards for Air-Conditioners (PCBA) for domestic and international markets. The JV Company has received approval under the PLI scheme of the Government of India under the White Goods category and in accordance with the same, it will undertake manufacturing of Printed Circuit Boards for Air-Conditioners (PCBA) for the domestic and international market. The proposed shareholding of Dixon Devices (after consummation of the transaction) will be as under:
(a) Company: 40%
(b) Rexxam: 60%
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.