Q3 Earnings | Maruti Suzuki net profit down 48% at Rs 1,011 crore but beats Street estimates

Maruti Suzuki reported a net profit of Rs 1,011 crore for the quarter ended December, down 47.9 percent on a year-on-year basis. Its quarterly revenue was at Rs 23,246 crore, down 0.9 percent on year.

Analysts in a CNBC-TV18 poll had predicted the company's quarterly profit at Rs 860 crore and revenue at Rs 23,051 crore.

Maruti Suzuki shares rose as much as 4.5 percent to Rs 8,406 apiece on BSE after the earnings announcement. At 2 pm, the stock was up 4.2 percent at Rs 8,388.

Jan 25, 2022 2:09 PM

Thank you, readers! That's all from CNBC-TV18.com's live market coverage on January 24, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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Jan 24, 2022 5:32 PM

Rupee edges lower to 74.56 vs US dollar

The rupee ended at 74.56 against the greenback on monday. On Friday, it had settled at 74.42.

Jan 24, 2022 4:53 PM

Financial stocks should do well in terms of growth, RoE improvement: Jinesh Gopani

Jinesh Gopani, Head-Equities at Axis MF, remains bullish on the financial stocks owned by the fundhouse. "If there is no major impact of the third wave of COVID and we get closer to endemic, I think financials both in terms of growth and improvement in RoEs should do well," he said.

Jan 24, 2022 4:49 PM

Midcap is the space to be in, not largecap: Shankar Sharma

Independent market expert Shankar Sharma prefers the midcap space to largecap now. “I continue to believe that largecaps in India are not the right place to be in unless you expect a big bear market continually... I feel the Nifty’s upside is relatively less than the upsides of the midcap space," he said.

Jan 24, 2022 4:47 PM

Emerging markets look attractive: Jonathan Schiessl

Jonathan Schiessl, Deputy CIO at Westminster Asset Management, finds emerging markets pretty attractive now, "not only because you get a good selection of value, dividend and cyclical plays but also because you haven't got quite a high tech weighting as you have in the US". Emerging markets have been a very poor place to invest global money for the last 10-12 years, he said.

"Emerging markets do look more attractive and particularly when you consider that a lot of people have been invested in the US markets for the last 10 years," he said.

Jan 24, 2022 4:45 PM

Blood on the Street, it's going to get nastier: Manish Sonthalia

Manish Sonthalia, Head of Equities-PMS at Motilal Oswal AMC, said there's some bloog on the Street and it is going to get even nastier going forward, given the excesses that have been built in certain pockets of the market over the last two years. "There's some more room on the downside. While the previous lows of 16,400 are not hit, it looks like they will get tested or maybe we'll go even lower but one thing to keep in mind is that BFSI as well as technology make up 55-60 percent of the benchmark. Out of these two, the Big Tech is seeing heavy selling across the globe and India is not going to be spared either," he said.

Sonthalia said the silver lining remains in the BFSI space. "That's quite attractive space to be in given the outlay into the future. So whatever we may see below 16,000 or thereabouts would be slightly on the excessive side on the downside. But clearly the mood of the market is such that it looks like that we are heading even lower from these levels," he added.

Jan 24, 2022 4:20 PM

India still better than other markets relatively: Shankar Sharma

Independent market expert Shankar Sharma believes the Indian is still better than other markets relatively. "India will be an outperforming market this year even though we may not see the kind of returns we have experienced in the last 24 months. But relative to the world, India will still hold its head above the water,” he said.

Jan 24, 2022 4:08 PM

Market At Close | Market turns negative for 2022

Here are some highlights:

--Volatility index hits 23.9 during session, highest since May 2021

--All sectoral indices in the red with cuts in range of 2-6%

--Nifty Bank falls 627 points to 36,948; midcap index down 1,181 points at 29,383

--Except Cipla, ONGC, all Nifty50 stocks in the red

--JSW Steel top Nifty loser after disappointing Q3 earnings

--ICICI Bank falls 2% despite strong Q3

--Bajaj twins extend Friday’s loss, fall 4-6%

--IT stocks continue to fall; Nifty IT set for worst monthly fall since March 2020

--Recently listed companies see sharp fall; Zomato falls 20%, Nykaa 13%, PB Fintech 11%

--BSE companies erase market cap of over Rs 9 lakh crore on Monday, Rs 20 lakh crore in 5 sessions

--Market breadth firmly in favour of bears; advance-decline ratio at 1:14

Jan 24, 2022 3:51 PM

Market At Close | JSW Steel, Bajaj Finance, Tata Steel, Grasim, Hindalco among top blue-chip losers

Tech Mahindra, Wipro, Titan, Tata Motors and Tata Consumer were also among the top laggards. Only two stocks in the Nifty50 pack closed in the green.

Here's how the 30-scrip basket fared:

Jan 24, 2022 3:40 PM

Closing Bell | Sensex down 1,546 points, Nifty50 at 17,149

The 30-scrip index fell 1,545.7 points or 2.6 percent to end at 57,491.5 and the broader Nifty50 benchmark settled at 17,149.1, down 468.1 points or 2.7 percent from its previous close.

Jan 24, 2022 3:38 PM

New-age tech cos could fall 80-90% in 2022, says Big Bear Shankar Sharma

New-age tech companies—the darlings of fund managers and retail investors alike just a few months back—are bearing the brunt of the selling fury on Dalal Street Monday. Independent market expert Shankar Sharma, known more for his aggressive bearish calls than bullish ones, has cautioned that these shares may still have room to slide further. In an interview with CNBC-TV18, Sharma said one should not be surprised if new-age tech companies fall 80-90 percent by the end of 2022.

Jan 24, 2022 3:28 PM

Sensex plunges 2,000 points, worst day in 9 months: Here's what's spooking investors

Indian equity benchmarks continued to fall for the fifth session in a row on Monday, with the Sensex nosediving more than 2,050 points in its worst intraday fall in 11 months. Both headline indices fell as much as 3.5 percent during the session. The 30-scrip index plunged 2,053.2 points to 56,984 and the Nifty50 slid to as low as 16,997.9, losing 619.3 points from its previous close - their worst intraday falls since April 12, 2021. Here are some of the key factors behind the market crash.

Jan 24, 2022 3:22 PM

Paytm shares hit new low, slide below Rs 900-mark for first time

Paytm parent One97 Communications' shares plunges more than eight percent to a record low on Monday, sliding below the Rs 900 mark for the first time since their listing in November 2021. The Paytm stock breached the Rs 900 mark about two weeks after Macquarie cut its target price for the digital payments company by 25 percent.

Paytm shares declined by as much as Rs 78.4 to Rs 881.5 on BSE during Monday's session. At this level, the One97 stock changed hands at a discount of 59 percent to its issue price of Rs 2,150.

Jan 24, 2022 3:19 PM

Nifty Bank slips 1.5%; RBL Bank down 7%, ICICI Bank, HDFC Bank drag

Nifty Bank slipped more than a percent on Monday amid an overall negative trend in the market. The banking sector stocks traded lower on the NSE with 11 out of 12 scrips in the red and Bandhan Bank and IndusInd limiting losses. (Read here for more)

Jan 24, 2022 3:08 PM

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