Stocks in Focus: Today the focus will be on these stocks including Axis Bank, Wipro, Maruti and Cipla.
Market Outlook: After a sharp decline of five consecutive days, a trading day ago (January 25), the market returned to the bright and Sensex and Nifty closed with gains. According to the head-retail research of brokerage firm Motilal Oswal Financial Services, global cues, quarterly results and the upcoming budget will decide the movement of the market in the near term. Talking about individual stocks, today the focus will be on Axis Bank, Wipro, Maruti, TCS, Cipla, Raymond and Indiabulls Real Estate. In intra-day, experts are today betting on Aurobindo Pharma, HUL and Voltas.
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Today focus will be on these stocks
- Wipro: IT giant Wipro has bought 13.3 percent stake in Encore Theme Tech. Wipro had earlier bought 83.4 percent stake in this company in December 2020 and now after the new purchase, Wipro’s stake in Encore Theme Tech has increased to 96.7%. There is also a plan to buy the remaining stake i.e. 3.3 percent. Encore Theme is headquartered in Chennai and is the flagship arm of Wipro in providing IT solutions in the banking and financial services segment.
- Axis Bank: Global rating agency Standard & Poor’s (S&P) has upgraded Axis Bank’s rating from stable to positive due to improvement in asset quality. The rating agency has given it BB+ long term rating. The rating agency increased this rating after Axis Bank’s December 2021 quarter results were out.
- Tata Consultancy Services: The country’s largest IT company has now become the second largest IT company worldwide, according to the Brand Finance report. The brand value of the company has increased by 12 percent on a yearly basis and 24 percent from the year 2020 to 1680 crores (Rs 1.26 lakh crore).
TCS becomes world’s second largest company in IT services, 6 Indian companies included in top 25
- Cipla: Veteran pharmaceutical company Cipla’s consolidated profit after tax was reduced by 2.6 percent in the December 2021 quarter. In the previous quarter, the company had earned a profit of Rs 748 crore. However, the company’s total operating revenue increased by 6 per cent to Rs 5479 crore.
- Raymond: The company’s net profit increased manifold in the third quarter of the current financial year. The company had a net profit of Rs 22.18 crore in the December 2020 quarter, while in the same period of the next year, the company earned a profit of Rs 101.07 crore. Revenue from operations also grew 48.25 per cent year-on-year to Rs 1,843.39 crore. Apart from this, the company is going to separate its real estate operations as a new entity.
- Indiabulls Real Estate: Indiabulls Real Estate reported a consolidated net loss of Rs 87.21 crore in the December 2021 quarter. The company had a loss of Rs 80.58 crore in the same period a year ago. In the third quarter of the current financial year, the company’s total income also fell to Rs 355.59 crore from Rs 735.81 crore on a year-on-year basis.
- Torrent Pharma: Pharmaceutical company Torrent Pharmaceuticals has announced the results of the third quarter of the current financial year. In the October-December quarter of the financial year 2021-22, the company’s consolidated net profit declined by 16 percent to Rs 249 crore. The company’s profit has been reduced due to mild performance in the US market. The company said in a statement on Tuesday that earlier in the same quarter of the financial year 2020-21, it had a net profit of Rs 297 crore.
Torrent Pharma Q3 Result: Torrent Pharma’s profit declined 16% in the third quarter, announced interim dividend of Rs 25
- Maruti: The country’s largest carmaker Maruti Suzuki’s consolidated net profit fell 47.82 per cent in the December 2021 quarter due to chip shortage and costly commodities. The company had earned a profit of Rs 1996.7 crore in the December 2021 quarter.
- The results of these companies will come today: Today BHEL, PNB, RBL Bank, Canara Bank. The quarterly results of several companies including Indus Towers, Colgate Palmolive, Laurus Labs, LIC Housing Finance, CE Info Systems and Fino Payments Bank will be announced.
You can bet on these stocks in intra-day
According to Reliance Securities, today you can bet on Aurobindo Pharma, HUL and Voltas in intra-day.
- AUROPHARMA: In the price range of Rs 600-610, you can take long positions with a target price of Rs 635 and a stop loss of Rs 595.
- HINDUNILVR: In the price range of Rs 2300- Rs 2320, you can take a long position by placing a stop loss of Rs 2280 at the target price of Rs 2380.
- VOLTAS: In the price range of Rs 1170- Rs 1180, you can take a long position with a target price of Rs 1220 and a stop loss of Rs 1160.
(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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