'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
Better than expected performance in June quarter of the 2023-24 financial year (Q1FY24) and a robust outlook led to 1.2 per cent gain in Titan Company stock on Friday (July 7). The firm reported 20 per cent growth in revenues, aided by double-digit rise in its major consumer segments. Jewellery, its largest segment, accounting for about 90 per cent of its sales, stood out with a growth of 21 per cent over the year ago quarter.
The recent equity market weakness has sobered up investor mood, but the coming festive season is keeping analysts upbeat on stocks related to the consumption basket. Among the lot, fast-moving consumer goods (FMCG), retail, and consumer electronics segments are expected to do well over the next few months, and investors should thus selectively take bets in these pockets, analysts suggest. "We expect good volume growth for the FMCG sector during the festive season with some improvement in rural demand.
Since its results for the first quarter of the 2023-24 financial year (Q1FY24) earlier this month, the stock of auto component major Bharat Forge is up nearly 15 per cent and hit its all-time high in the process. The recent gains have extended the returns over the last three months to over 34 per cent. After a strong Q1 performance which beat expectations, brokerages had revised their earnings estimates upwards to factor in the improved outlook.
Titan's October-December quarter (Q3) business update claims 22-23 per cent revenue growth in the standalone jewellery sales (excluding bullion sales), implying a 4-year compound annual growth rate (CAGR) of 21.3 per cent. Store additions also looked healthy, with 21 new Tanishq stores opened in Q3, taking the total count to 466 (+43 in 9 months of FY24) including two in the US and one in Singapore. Titan added 90 stores in Q3, pushing its total retail outlets to 2,949 (including CaratLane).
If only you had thought ahead, you would have stocked snacks and biscuits, bread and cake, and vegetables suited for Amma or pondatti to make your favourite bajji and pakoda, observes N Sathiya Moorthy.
Stocks of companies where promoters have pledged a high percentage of shares, like the Zee group, can be volatile. Such stocks are also prone to rumours, reports Sanjay Kumar Singh.
Check out some of the stocks that will react on the basis of their numbers in the near term.
Kashmir witnessed the season's heaviest snowfall.
Usually, turmeric is grown over 290,000-330,000 hectares of land. But in 2022-2023, according to official estimates, there has been a drop of about 10,000 hectares.
After New York and Washington DC, Jaitley would head for California.
A new cookbook not only aims at enthusing readers prepare delectable dishes by recreating recipes, but also acts as a meal solver and planner.
External Affairs Minister S Jaishankar has met United States Defence Secretary Lloyd Austin and held a productive conversation with him on deepening bilateral defence cooperation, including in the co-production of defence articles, and exchanged perspectives on a variety of security issues.
'Trading is about psychology; 75% of it is about keeping your emotions in check.'
She was utter perfection in the high-shine standout piece.
Pawar posted on X, formerly known as Twitter, pictures of him and Adani cutting a ribbon of the factory.
Two people were killed in a 'vehicle explosion' at the United States-Canada border crossing near Niagara Falls in the afternoon hours on Wednesday, CBS News reported citing sources.
A new regulation concerning the disclosure of family arrangements by listed companies is exacerbating rifts between feuding shareholders. The latest example is Bengaluru-based TD Power Systems (TDPS), currently enmeshed in a legal dispute before the Karnataka high court over ownership of its 16 per cent equity. Vijay Kirloskar, who is asserting a claim over the 16 per cent stake held by Mohib Khericha (chairperson of TDPS) and Nikhil Kumar (managing director of TDPS and nephew of Kirloskar), has sent a letter to the market regulator, Securities and Exchange Board of India (Sebi), and stock exchanges. He accuses TDPS of insufficient disclosure concerning shareholder agreements.
Bright dreams of a new journey, desperation to stage a comeback and desire to rediscover old glory will be the dominant themes of this season's Ranji Trophy that begins at various centres across the country from Friday.
Under the takeover code, an investor who acquires 15 per cent of a company needs to make an open offer for another 20 per cent at a price which is not less than the average share price of the previous six months. This means a buyer of more than 15 per cent of Satyam will have to make an open offer at a price almost six times Monday's closing price of Rs 57.60.
Union Minister Rajeev Chandrasekhar on Tuesday met social media platforms to review progress made by them in tackling misinformation and deepfakes, and asserted that advisories will be issued in the next two days to ensure 100 per cent compliance by platforms.
The legislator was taken into custody under provisions of the Prevention of Money Laundering Act after he was detained by agency officials from a public meeting he was holding in Malerkotla, they said.
The Burman family, which runs Dabur Group, has denied any involvement or role in an illegal cricket-betting app as alleged by the Mumbai police in a complaint filed last week. The family said vested interests were behind the police complaint and they wanted to scuttle their (Dabur's) move to acquire Religare Enterprises, a financial services company. "We have not received any formal communication on any such FIR
Riding on a strong market sentiment, these stocks have outperformed the bellwether. The flip side is, they can fall faster when the tide turns.
Titan Company on November 21, became the second Tata group firm to join Rs 3 trillion market capitalisation (market cap) club after its shares hit a new high of Rs 3,400, up nearly 2 per cent on the BSE in Tuesday's intra-day trade. At 12:28 PM; with a market cap of Rs 301,847 crore (Rs 3.02 trillion) Titan stood at number 16th position in overall market cap ranking on the BSE listed companies, the exchange data shows. Titan overtook paint company Asian Paints, which has a market cap of Rs 300,579 crore, data shows.
Here's how leading brokerages and research houses expect 2023 to play out for the equity markets, and their sector preferences.
'Earnings will be the catalyst for markets to march higher from here on out.'
Care for a hot broth to welcome Father Christmas?
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
Chief Minister Bhupesh Baghel asked why the prime minister and Centre were scared of ordering a probe into the fraud committed by the Adani Group.
'We were sure our appeal would succeed. We knew we could break down the evidence and show it was hollow.'
Have you ever seen her lovelier?
Morgan Stanley Sales & Trading, US, believes the stock is better value for money than others and has a upside as high as 73 per cent. A slowdown in the economy has hit demand and led to a fall in overall consumption in an auto market which till recently was one of the fastest growing in the world.
Bollywood stars celebrated Father's Day with beautiful pictures and messages on Instagram.
Of these 26, Bajaj Finance, Associated Alcohols and Breweries, Garware Technologies, Filatex India, Tasty Bite Eatables, Aarti Industries and GMM Pfaudler saw an over 10-fold surge in price since 2014.
IPO-bound hospitality major Oyo's India Chief Executive Officer (CEO) Ankit Gupta and the head of its Europe business Mandar Vaidya have resigned. A company spokesperson told Business Standard that the two had moved on from their roles six months ago in March 2023. During the same period, Oyo had rejigged its top management, where the company's COO Abhinav Sinha was reassigned as Chief Product and Technology Officer, while Chief Business Development Officer Anuj Tejpal was reappointed as Global Chief Merchant Officer.
The glamorous streak of apna celebs continues on into the New Year.
His value lifestyle brand Zudio signals a coming of age of retail in small town India.
The board of Religare Enterprises Ltd (REL) has rallied behind its embattled chairperson Rashmi Saluja, saying she had turned around the financial services company whose market cap has increased to about a billion dollars from under $100 million in March 2018. The board -- which is fending off an Rs 2,200 crore open offer by the Burman family -- said accusations had not only targeted Saluja but the entire Religare management that has made Religare debt free. "Our story has been one of resurgence under the guidance of the Board of Directors led by Saluja, executive chairman.
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