Titan hit a record high of Rs 2,718.65, rallied 5 per cent on the BSE in Thursday's intra-day trade, surpassing its previous high of Rs 2,687.30 touched on January 7, 2022.
Among the Sensex pack, SBI was the biggest loser as it dropped over 2 per cent. M&M, NTPC, Kotak Bank, Bajaj Finserv, HDFC, Power Grid, and RIL were the other losers, all down between 1-1.8 per cent
BoI, Devyani Intl, Eveready, FSL, Mahindra Life, Paytm, REC, Siemens, Sintex, SPARC, Tata Steel, Thermax and Vijaya Diagnostics are some of the prominent companies to announce results today.
Driven by festive purchases in October and November, the jewellery business registered an income of Rs 8,563 crore with 37% growth in Q3FY22
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Among sectors, all the key indices ended in the red, led by the Nifty IT index (down 2 per cent) and the Nifty Realty index (down 1.7 per cent). Nifty Auto index was the only gainer, up 0.4 per cent.
Jewellery stocks are likely to shine in coming months on the back of likely strong Q3 performance owing to the festive demand
Sectorally, the Nifty Auto and Pharma indices were the only losers, down up to 0.4 per cent
During the quarter gone by, the company saw significantly higher walk-ins at its jewellery chain Tanishq
Markets regulator Sebi imposed a fine on an employee of Titan Company Ltd for violation of insider trading norms
Bajaj twins can slide another 10% from current levels; Supriya Lifescience IPO fully subscribed within hours of opening
They traded in the scrip of Titan with total value of transactions in excess of Rs 10 lakh
Jewellery related stocks have witnessed massive gains since last Dhanteras and continue to trade with a firm bullish bias, indicating more upside for the shares.
Financials led by PSU banks, realty, metal and FMCG shares where the major losers in trade. All NSE sectoral indices ended with losses of more than a per cent
Apart from earnings candidates, auto and telecom stocks could be in focus on reports of chip shortage likely to linger for a longer period
With jewellery division doing exceeding well, and other divisions swiftly bouncing back to pre-pandemic levels, total income for the quarter was Rs 7,220 crore, including bullion sale of Rs. 192 crore
Shares of Tata Motors DVR were locked at the 20 per cent upper circuit, while Tata Motors too surged nearly 20 per cent in intra-day trade on the BSE today
Analysts expect discretionary players like D-mart, Titan, and Jubilant FoodWorks to record a stronger recovery in Q2FY22, led by faster unlocking and pent-up demand post the second wave
The other positives are lower gold prices, higher festive and wedding season sales, and market share gains
In the broader market, the BSE MidCap and SmallCap indices added 1.7 per cent and 1.4 per cent, respectively