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