Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex Opens Flat; Infosys & Wipro Dip 3% Post Q3 Results
Thu, 14 Jan 09:30 am | Yash Vora, TM Team

Asian share markets are trading near record high levels as investors focused on US stimulus prospects and extended bets on global recovery and growth.

Japan's Nikkei jumped to a three-decade high and rose 1.4% while the Hang Seng is trading up by 0.5%.

In US markets, Wall Street indices closed mixed overnight as investors waited for details of the next US fiscal stimulus plan, expected to be announced by President-elect Joe Biden later today.

The Dow Jones Industrial Average ended on a flat note while the Nasdaq Composite added 0.4%.

--- Advertisement ---
These 3 Stocks are the Dark Horses of the Stock Market

The mainstream media mostly ignores them.

Mutual funds and hedge funds can't buy them in bulk.

Stock brokers rarely cover them.

These stocks are the dark horses of the stock market.

They only come in limelight after they have rallied by hundreads of even thousands of percent.

Our head of smallcap research, Richa Agarwal, has a knack for identifying such stocks before they begin their rally.

Over the years, she has spotted such stocks which have gone on to offer triple and even quadruple digit gains for investors. (* Past performance is no guarantee of future results)

Today, when the markets are near all-time high... and some investors are thinking of booking profits... Richa has spotted 3 such stocks which are set for a massive rally.

She will reveal the details of these 3 stocks on 28th January at her free online summit.

Click here to sign-up instantly. It's free.
------------------------------

Back home, Indian share markets have opened the day on a flat note.

Market participants are tracking shares of Den Networks, HFCL, Reliance Industrial Infrastructure, Tata Steel Long Products and Digicontent as these companies will announce their quarterly earnings today.

The BSE Sensex is trading down by 68 points. Meanwhile, the NSE Nifty is trading lower by 17 points.

IndusInd Bank and ITC are among the top gainers today. Infosys is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened up by 0.6% and 0.3%, respectively.

Sectoral indices are trading mixed with stocks in the power sector and capital goods sector witnessing buying interest.

IT stocks, on the other hand, are trading in red.

The rupee is trading at 73.19 against the US$.

Gold prices are trading down by 0.9% at Rs 48,870 per 10 grams.

BREAKING: Full Details of the #1 Investment of the Decade...

Speaking of stock markets, in his latest video, Rahul Shah discusses how to alternate between a deep value portfolio and investment in gold and earn great returns.

In the video, Rahul discusses how to combine the two in a smart way and benefit from the individual strengths of each asset class.

How good is the result of this combination and what happens when you combine a deep value portfolio of mid and small caps with gold?

Tune in to the video to find out more:

In latest developments from the IPO space, the initial public offering (IPO) for Indigo Paints will be open for subscription on January 20, 2021 after it received a nod from market regulator earlier this month. The IPO will close on January 22.

The regulator has approved Indigo Paints' plan to raise about Rs 10 billion through the public issue from the capital markets.

--- Advertisement ---
Top 3 Stocks for 2020 and Beyond

We've uncovered 3 high-potential tech stocks after years of research.

These 3 cutting edge tech stocks could potentially create a wave of Indian millionaires.

First one is present in the sector which is expected to GROW over 300 times by 2030.

Second one is one of the leading players in Artificial Intelligence technology.

And the third one is involved in putting up a global safety net to save the world from cyber criminals.

These 3 tech stocks have the potential to offer life-changing gains in the long run.

Click here to get the details...
------------------------------

The IPO comprises fresh issuance of shares of Rs 3 billion and an offer-for-sale of up to 58,40,000 equity shares by Investor Selling Shareholder Sequoia Capital through its SCI Investments IV and SCI Investments V and Promoter Selling Shareholder, Hemant Jalan.

The company said that the net proceeds from the issue will be used for expansion of the prevailing manufacturing facility at Tamil Nadu's Pudukkottai and for purchasing tinting machines and gyro shakers. It will also be used for repayment as well as a prepayment of borrowings.

Reports state that the price band will be between Rs 1,480 and Rs 1,500 per share.

Yesterday, it was also reported that the Indian Railway Finance Corporation (IRFC) IPO is scheduled to open on January 18, becoming the first public issue of 2021.

The issue will close for subscription on January 20, 2021.

Note that there are at least 15 companies that may come out with their initial public offerings in the year 2021. These include Kalyan Jewellers, Suryoday Small Finance Bank, ESAF Small Finance Bank, Indigo Paints, Brookfield India Real Estate Trust, Barbeque Nation Hospitality, Home First Finance Company and Railtel Corporation of India.

Among these, companies such as Home First Finance, Brookfield REIT and Railtel Corporation of India are expected to launch their IPO in January.

How the IPO market performs in 2021 remains to be seen.

Moving on to stock specific news...

Infosys is among the top buzzing stocks today.

Infosys on Wednesday reported a 16.6% year-on-year (YoY) growth in its consolidated net profit at Rs 51.97 billion for the third quarter of the financial year 2021 (Q3FY21).

The firm had posted a net profit of Rs 44.6 billion in the same period last year.

On a sequential basis, the profit rose 7.3% from Rs 48.5 billion posted for the September 2020 quarter.

Infosys' revenue came in at Rs 259.3 billion, up 12.3% YoY and 5.5% QoQ. In constant currency terms, revenues grew 5.3% which was its highest Q3 sequential growth in 8 years.

Operating profit for the quarter stood at Rs 65.9 billion, up 30.1 YoY, against Rs 50.6 billion posted in Q3FY20.

Infosys said digital revenues crossed 50% of the total revenue. For the year, digital revenues in cc terms were up 31.3%.

The IT major also raised its FY21 revenue guidance to 4.5-5% in constant currency while FY21 operating margin guidance has been revised upward to 24-24.5% on the back of continued strong performance.

Infosys share price has opened the day down by 2.6%.

To know more, you can read Infosys' Q3FY21 result analysis on our website.

Moving on to news from the realty sector, realty major DLF and US-based Hines will invest around Rs 13 billion to construct the first phase of a premium commercial project, largely office space, in Gurugram, a senior company official said.

The construction of this project, comprising 2.55 million sq ft area in the first phase, has started, Managing Director of DLF Rental Business Sriram Khattar said.

In March last year, DLF and Hines had formed a joint venture to develop this project on a 11.76 acre land parcel bought by DLF in 2018 for nearly Rs 15 billion through an e-auction conducted by the Haryana government.

DLF had sold 33% stake in this commercial project to Hines for around Rs 6.5 billion.

The DLF-Hines JV had in August secured a construction loan of Rs 26 billion from HDFC for the development of first phase, which is targeted to be completed in stages in 2023-24.

Note that this is the second JV between the two companies. DLF and Hines had entered into their first joint venture in 2008 to develop One Horizon Center in DLF-5 Gurugram, Haryana.

DLF share price has opened the day up by 1.1%.

Note that the realty sector was the top gainer last month. Have a look at the chart below:

The realty sector gained as much as 16%, followed by metal and IT sector with gains of 9.4%.

The government has been taking proactive measures in the form of moratoriums, tax cuts, construction premium cuts and project timeline deferrals, to help the recovery of real estate sector.

In August last year, the stamp duty rates were reduced from 5% to 2% till December 2020 and 3% till March 2021.

Maharashtra cabinet on January 6 cleared the proposal to reduce all premiums for on-going as well as new real estate projects by 50%, up to December 2021. The decision was taken after the recommendations of the Deepak Parekh committee.

The developers welcomed this strong decision of Maharashtra Government to boost real estate sector which generates maximum employment and had not seen pick up in sales for several years.

How realty stocks perform in the coming months remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Sensex Opens Flat; Infosys & Wipro Dip 3% Post Q3 Results". Click here!

  

Stock Market Updates

Sensex Plunges 746 Points; Banking & Metal Stocks Bleed (Today's Market)

Jan 22, 2021 Closing

Indian share markets end deep in the red with the Sensex down by 746 points and the Nifty plunging 218 points.

BAJAJ AUTO at All Time High; BSE AUTO Index Up 1.5% (Today's Market)

Jan 22, 2021 03:34 PM

BAJAJ AUTO share price has hit an all time high at Rs 4,130 (up 10.8%). The BSE AUTO Index is up by 1.5%. Among the top gainers in the BSE AUTO Index today are BAJAJ AUTO (up 10.8%) and MRF (up 0.6%). The top losers include BALKRISHNA INDUSTRIES (down 0.4%) and MARUTI SUZUKI (down 0.7%).

THE NEW INDIA ASSURANCE Share Price Down by 5%; BSE 500 Index Down 1.3% (Today's Market)

Jan 22, 2021 03:26 PM

THE NEW INDIA ASSURANCE share price is trading down by 5% and its current market price is Rs 140. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are JK TYRE & IND (up 20.0%) and CYIENT (up 19.7%). The top losers are THE NEW INDIA ASSURANCE (down 5.3%) and SRF (down 6.5%).

JSW STEEL Share Price Down by 5%; BSE METAL Index Down 4.0% (Today's Market)

Jan 22, 2021 03:25 PM

JSW STEEL share price is trading down by 5% and its current market price is Rs 397. The BSE METAL is down by 4.0%. The top losers are JSW STEEL (down 5.1%) and JINDAL STEEL & POWER (down 6.6%).

SHRIRAM TRANSPORT Share Price Down by 5%; BSE 500 Index Down 1.3% (Today's Market)

Jan 22, 2021 03:24 PM

SHRIRAM TRANSPORT share price is trading down by 5% and its current market price is Rs 1,224. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are CYIENT (up 19.0%) and JK TYRE & IND (up 17.1%). The top losers are SHRIRAM TRANSPORT (down 5.1%) and SRF (down 6.6%).

PIRAMAL ENTERPRISES Share Price Down by 5%; BSE HEALTHCARE Index Down 1.2% (Today's Market)

Jan 22, 2021 03:16 PM

PIRAMAL ENTERPRISES share price is trading down by 5% and its current market price is Rs 1,588. The BSE HEALTHCARE is down by 1.2%. The top gainers in the BSE HEALTHCARE Index are NATCO PHARMA (up 0.9%) and FORTIS HEALTHCARE (up 0.9%). The top losers is PIRAMAL ENTERPRISES (down 5.1%).

View More Indian Share Market News

Most Popular

Why Gold Hit Lower Circuit(Fast Profits Daily)

Jan 11, 2021

Were you shocked that bullion prices hit lower circuits on Friday on the MCX? Find out why it happened...

Time to Book Profits in Pharma Stocks(Fast Profits Daily)

Jan 15, 2021

In this video, I'll show you why it might be the right time to take money of the table in pharma stocks.

A Rare Chance to Invest in Potential Multibaggers in 2021(Profit Hunter)

Jan 11, 2021

Our ace stock picker is ready to capitalise on a big growth opportunity.

Smallcap Stocks: Your Best Bet for 2021 and Beyond(Profit Hunter)

Jan 15, 2021

The pandemic failed to thwart Richa's investing success formula for 2020.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jan 22, 2021 (Close)

MARKET STATS