In our daily section, Standout Brokerage Report, we look at a report by CLSA on Mahindra & Mahindra stock. CLSA has sharply raised a target price on Mahindra & Mahindra to Rs 1,220 versus their earlier target price of Rs 1,090.

Toyota Kirloskar Motor will increase prices across its entire product portfolio from January, in order to offset the impact of higher input costs. The company sells a range of models including Glanza, Urban Cruiser, Innova Crysta and Fortuner in the domestic market. Already, various companies including Maruti Suzuki, Tata Motors and Honda Cars have indicated that they would be increasing prices from next month.

The job creation in India is likely to pick up, which will drive domestic themes, Mihir Vora of Max Life Insurance said. "The big bet is that private sector capex, infrastructure, PLI linked exports and imports should lead to good urban job creation, which should drive the domestic theme," he said.

Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 extended losses to the third day in a row on Tuesday, tracking weakness across global markets amid renewed concerns about the Omicron variant of COVID-19. Gains in oil & gas, metal and healthcare shares were offset by losses in automobile and select financial stocks. Broader markets were mixed, with the Nifty Midcap 100 index ending 0.2 percent lower and its smallcap counterpart rising 0.2 percent. Anand Rathi Wealth shares made a strong debut in the secondary market, listing at a premium of more than nine percent over its issue price.