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Listen In: TCS buyback a good opportunity for small investors


Hi there, Good Morning. Welcome to ETMarkets Morning, the show about money, business and markets. I am Nikhil Agarwal. Let’s start with the headlines first.

– India Inc hiring to gain momentum in 2022
– GST collection tops Rs 1.38 lakh cr in Jan
– Smartphone mkt logs 27% growth in 2021

Now lemme give you a quick glance on the state of the markets.

Asian stocks harnessed the tailwind from a technology-led rally in the US that was spurred by dip buyers betting this year’s equity rout is going to ebb. Shares rose in Japan and Australia, which are among the few markets open due to Lunar New Year holiday closures.

Elsewhere, the yield on 10-year Treasuries advanced one basis point to 1.79%. The US dollar nursed its wounds on Tuesday following its biggest drop in nearly three weeks against major peers, as Federal Reserve policymakers allayed investor fears of a very rapid tightening of monetary policy. Oil prices edged higher on Tuesday, trading near seven-year highs hit last week, as investors bet supplies will stay tight, with a limited production hike by major oil producers and a strong post-pandemic recovery in fuel demand.

That said, here’s what is making news.

Sun Pharma posted a strong performance in the December quarter, with India’s largest drug-maker logging its highest ever quarterly sales. Revenue and net profit each climbed 11% even as profitability dipped marginally. Overall growth was driven by strong performance in the domestic market as well as the speciality portfolio in the US. The Sun Pharma stock closed nearly a per cent higher after the earnings.

Tata Motors’ guidance on improvement in the volumes for JLR and northward margin trajectory at home may keep the stock on the radar of investors. Improving the volume trajectory of JLR may lift sum-of-the-parts (SOTP) valuations, of which the local operations contribute 60-65% on several positive triggers in last few months.

Small investors could make a quick buck in the ₹18,000 crore-share buyback offer by Tata Consultancy Services, said analysts. There is scope to earn between 10% and 20% by buying TCS shares now and tendering them in the share buyback though returns would depend on the extent of the acceptance in the buyback offer, they said.

NOW Before I go, here is a look at some of the stocks buzzing this morning…

Realty major DLF on Monday reported a 15% fall in its consolidated
net profit to Rs 379.5 crore for the December 2021 quarter while sales bookings nearly doubled to Rs 2,018 crore on strong demand for its luxury homes.

Adani Total Gas Ltd (ATGL) plans to invest Rs 12,000 crore in 14 geographical areas (GAs) for which it has won city gas distribution licences in the 11th bidding round, the company said in a statement.

Indian Oil Corporation (IOC) reported a 19% increase in profit in the quarter to December 2021, while its smaller peers Hindustan Petroleum
(HPCL) and Bharat Petroleum (BPCL) posted a 63% and 11% drop in profit respectively.

The Centre on Monday said it has approved the bid of Tata Steel Long Products Limited to purchase Neelachal Ispat Nigam Ltd. (NINL) for Rs 12,100 crore.

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Do also check out over two dozen stock recommendations for today’s trade from top analysts on ETMarkets.com.

That’s it for now. Stay with us for all the market news through the day. Happy investing!



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