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[13/02 Market Update] Titan (+2%) rose due to decline in gold prices.

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[13/02 Market Update] Titan (+2%) rose due to decline in gold prices.

Tribe Daily

Tribe Wealth
Feb 13
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[13/02 Market Update] Titan (+2%) rose due to decline in gold prices.

blog.investwithtribe.com

Market Summary

Nifty ended weaker as investors awaited the January retail inflation data.


Companies

Titan (+2%) rose as gold prices declined. Larsen and Toubro (+2%) rose as the conglomerate is looking beyond its infrastructure business and branching into software services, data centers, and education technology. Adani Enterprise (-8%) declined after the group revised its revenue growth target from 20% to 15% and Moody Investor Service downgraded the outlook of 4 Adani firms.


Sectors

Nifty FMCG (+1%) rose due to stellar Q3 results of ITC, Britannia and HUL. Nifty PSU Bank (-3%) declined due to uncertainty over the rate hikes and economic growth, strong selling by FII ( Foreign Institutional Investors), and due to their significant exposure to Adani Group.


Market News

1.Gujarat Gas (+1%) rose as Q3 PAT zoomed by 204.48% YoY to Rs 371.26 cr. (Mint)

2.Godrej Industries Q3 net profit jumped by 118% to Rs 314.26 cr. (CNBC TV 18)

3.Nykaa (-3%) declined as Q3 profit plunged by 68% YoY to Rs 9 cr. (Economic Times)

4.Borosil Renewables (-3%) declined as Q3 net profit plunged by 51% YoY to Rs 22.47 cr. (Business Standard)

5.Wholesale passenger vehicles sales for January rose by 17.2%: SIAM. (Mint)


Market Sentiment


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[13/02 Market Update] Titan (+2%) rose due to decline in gold prices.

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