Indian benchmark indices ended marginally higher in yet another volatile session and extended the positive momentum for the fifth consecutive session on October 21 amid buying seen in the financials. At Close, the Sensex was up 104.25 points or 0.18% at 59,307.15, and the Nifty was up 12.30 points or 0.07% at 17,576.30.
In the Samvat 2078, BSE Sensex fell over 1 percent, while Nifty 50 shed nearly 2 percent. The domestic market started on a negative note amid weak global cues and stayed in negative territory for the most part of the session. However, last-hour buying helped the indices to close near the day's high level. "Selling emerged in the second half led by a weak start to the European market due to the fear of tight monetary policy. Domestic investors maintained their caution and began to book profits in anticipation of the truncated week," said Vinod Nair, Head of Research at Geojit Financial Services. Telegram Channel for Bank Nifty Stock Market Today Share Market Today Trading India Bank Nifty
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ACC shares fell nearly 2 percent on Tuesday as the company has posted losses in the quarter ended September 2022. ACC on October 17 reported a standalone loss of Rs 91 crore for the quarter, as against a post-tax profit of Rs 449 crore a year back, while it had posted a net profit of Rs 222 crore in the June quarter this year. The company recorded a 7 percent rise in net sales at Rs 3,910 crore as compared to Rs 3,653 crore in the same quarter last year. EBITDA (earnings before interest, tax, depreciation and amortisation) stood at Rs 16 crore against Rs 713 crore last year, impacted largely due to a steep rise in fuel cost. Morgan Stanley has maintained ‘underweight’ rating on the stock and cut the target price to Rs 1,950 from Rs 2,050 per share. The company’s EBITDA fell sharply, coming in well below estimate on weaker-than-expected costs. “We have revises estimates to reflect the miss. We have maintained relative underweight call given lower growth expectations versus peers,” reported CNBC-TV18. ACC was quoting at Rs 2,231.35, down Rs 38.35, or 1.69 percent on the BSE. For More Such News Join Our Blog. Stock Market Today Indian Stock Market Market today share trading equity market Shares of Jewellery and watchmaker Titan Company zoomed in the early trade on October 7, after the firm reported strong growth in sales for September quarter, springing a positive surprise for investors. “The Company witnessed healthy double-digit growth across most businesses with overall sales growing 18 percent YoY (year-on-year),” Titan said in a regulatory filing. At 9:56am, the stock was trading 5.18 percent higher at Rs 2728 apiece on the BSE, while the benchmark Sensex was at 58,132.09, down 90.01 points or 0.15 percent.
The jewellery division of the company grew 18 percent YoY on a high base of Q2FY22 that had elements of pent-up demand and spillover purchases of a Covid disrupted Q1FY22. Gold jewellery clocked low double digit growth whereas studded sales were higher than the overall division driven by good activations and better contribution from high value purchases, the company said. The watch business grew 20 percent YoY, clocking its highest quarterly revenue. Titan said the strong tailwind demand led by a desire to own more premium watches helped the brand grow fastest in the watches category, assisted by higher volume and average selling prices YoY. The company’s eyecare business grew 7 percent and other businesses that includes sarees and perfumes grew 58 percent compared to the last year. In its outlook for festive season, Titan said it continues to be optimistic and positivity is visible in consumer sentiment across categories. Open Demat Account |
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