Pre-Market Information : HDFC Bank, HCL Technologies, Maruti Suzuki, Ultratech and others will be in focus today

Indian markets are going to open amid mixed global cues. US markets closed mixed on Friday. Today US markets will be closed on for the Martin Luther King Jr. Day. This week BoA, Goldman Sachs, Netflix, P&G, and Microsoft will announce results. The Dollar Index inches higher.

However, the Asian markets trade mixed as investors wait for China’s GDP data. On the other hand, Omicron cases found in Beijing too. 

Our Indian market scenario looks mixed. SGX Nifty indicates a gap-down for our markets. 

On Friday and Saturday, HCL Technologies and HDFC Bank posted results. 

The following stocks will be in focus today:

HCL Technologies: This IT major posted a profit of Rs 3,442 crore for December 2021 quarter, up 5.4% QoQ and a revenue of Rs 22,331 crore, up 8.1% QoQ. 

Morgan Stanley raised target price to Rs. 1450. Nomura raised its target price to Rs. 1580. UBS gave a sell call with a target price Rs. 925It also entered into a partnership with a Hungarian data engineering services company, for $ 42.5 million. 

HDFC Bank: The bank posted higher standalone profit at Rs 10,342.2 crore in December 2021 quarter against Rs 8,758.3 crore in December 2020 quarter. Its net interest income was up Rs 18,443.48 crore from Rs 16,317.61 crore YoY. 

Most of the brokerage firms gave either BUY or OUTPERFORM calls. The target price ranges between Rs. 1950 to Rs. 2100. On Friday, the stock closed at Rs. 1545.15.

Maruti Suzuki: It said the prices of its product range wil be raised by 1.7% from Saturday.

Apollo Tyres. It buys 27.2% stake in CSE Deccan Solar for Rs. 9.33 Cr.

Castrol: It will consider a dividend for FY ended Dec.31, 2021 on Feb 7.

Oil India: It sells its stake in the Niobara shale asset in the U.S. for $ 25 million. 

PB Fintech: It will buy 100% stake in Visit internet for Rs. 22.41 Cr.

RBL Bank: It hires a search firm, an external expert for the selection process of CEO. 

Hero MotoCorp:  It approves an investment of  Rs 420 crore in Ather Energy Private Limited.

Cement major Ultratech will post results today. Other important results include Angel One, Tatva Chintan Pharma Chemicals, Tata Steel Long Products, Sonata Software, etc.





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