Indices at previous closing
Nifty50: 17,560 ▼219 (-1.2%)
Sensex: 58,788 ▼770 (-1.2%)
Nifty Bank: 39,010 ▼320 (-0.8%)
For more updates on F&O, click here.
Titan shines in Q3
In the December quarter, the jewellery and watchmaker’s standalone net profit soared by 135% year-on-year to ₹987 crore. The management said that strong recovery in business and improvement in product mix boosted the profitability.
In the same period the company reported revenue of ₹9,381 crore, up 36% YoY. All its segments witnessed growth with its jewellery business, which accounts for 90% of the revenue, exceedingly doing well. Meanwhile, shares of Titan closed flat yesterday.
ITC reports double digit profit growth
In Q3FY22, the FMCG-to-cigarette conglomerate reported net profit of ₹4,156 crore, up 12% year-on-year. The double digit growth was supported by a 31% rise in the gross revenue to ₹16,633 crore.
The cigarette business, which accounts for over one-third of the top line, witnessed robust recovery with 14% growth. Its hotel and agri-business revenue grew 100% each. Meanwhile, shares of ITC were up 0.5% yesterday and are up 8% so far this week.
Vedant Fashions IPO opens today
The owner of India’s popular ethnic wear brand - Manyavar - will launch its ₹3,149 crore IPO. The public issue is completely an offer for sale.
The company has a pan-India presence with 535 exclusive brand outlets. The price band for the IPO is between ₹824 and ₹866. Click here to apply for the IPO on Upstox.
Sectoral indices (February 4)
| Top gainers | Top losers |
| Nifty Auto ▲ 0.4% | Nifty IT ▼ 2.0% |
| Nifty Consumer Durables ▲ 0.1% | Nifty Realty ▼ 1.7% |
Global markets (at 7:30 am today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.2% |
| Nikkei 225 (Japan) | ▼ 0.3% |
| Hang Seng (Hong Kong) | ▲ 1.7% |
| SSE Composite (China) | ▼ 0.9% |
| Dow Jones (US) (February 4) | ▼ 1.4% |
| NYSE (US) (February 4) | ▼ 1.3% |
| Nasdaq (US) (February 4) | ▼ 3.7% |
| S&P 500 (US) (February 4) | ▼ 2.4% |
Fact of the day
Global tech giant Apple reported record quarterly revenue of $123 billion despite chip shortage.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.