TATA Motors gained more than 3 percent; Stock to delist from NYSE

The Markets Today in a nutshell

• Domestic stock market ended on a flat note.
• Benchmark indices opened higher amid positive global cues and traded higher for the most part of the session. However, profit booking dragged the indices near the flat line in late trade. Investors are cautious ahead of the next weeks Union Budget.

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News you could use

? Maruti Suzuki Q3FY23 profit doubles; Stock price rallied 3.31 percent
The auto majors standalone net profit zoomed 132.5% to Rs 2,351.3 crore on 25.52% jump in net sales to Rs 27,849.2 crore in Q3 FY23 over Q3 FY22. Operating EBIT soared 131% to Rs 2,123 crore in Q3 FY23 from Rs 919 crore reported in Q3 FY22. Operating EBIT margin improved to 7.6% as on 31 December 2022 as against 4.1% as of 31 December 2021. Pending customer orders stood at about 363,000 vehicles at the end of this quarter out of which about 119,000 orders were for newly launched models, the company said.

? TATA Motors gained more than 3 percent; Stock to delist from NYSE
The company has confirmed that the voluntary delisting of its American Depositary Shares (ADS), representing ordinary shares of the company, from the New York Stock Exchange (NYSE) will become effective close of trading on the NYSE on 23 January 2023. This follows the filing by the company of Form 25 with the Securities and Exchange Commission on 13 January 2023.

? SBI cards PAT grows 32 percent y-o-y; NII grew by ~27% for same period
The company reported a 32.06% jump in net profit to Rs 509.46 crore on 16.45% rise in total income to Rs 3,656.15 crore in Q3 FY23 over Q3 FY22. Total gross advances (credit card receivables) as on December 31, 2022, were Rs 38,626 crore, against Rs 31,281 crore as on March 31, 2022.

News from the IPO world?

• Gautam Adani plans to take atleast five companies public
• Avalon Technologies, Udayshivkumar Infra get SEBI’s nod to float IPO
• Gayatri Rubb2ers IPO opens on 25th Jan

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