Britannia (+1%), Reliance (+1%) & more
Britannia (+1%), Reliance (+1%) & more
Tribe Daily
Market Summary
Nifty declined for the third straight day due to the weak performance of Nifty IT and Nifty Private Bank.
Companies
Reliance (+1%) rose after the company's arm inked a deal with Manchester City to spur the India push. Britannia (+1%) rose due to margin improvement and high earning visibility.
Sectors
Nifty FMCG (+0.03%) rose due to strong performance of Britannia, United Spirits, Nestle India and ITC. Nifty IT (-2%) declined due to weak performance of TCS, Tech Mahindra, Infosys, Wipro and HCL Tech. Nifty Media (-1%) declined due to weak performance of PVR, Dish TV, INOX Leisure and Zee Entertainment.
News of The Day
1.Sigachi Industries (+20%) rose after the company announced a board meeting to consider raising of funds through equity or convertible warrants. (Business Standard)
2. Rama Steel Tubes (+10%) rose as stock turned ex-date for 4:1 bonus. (Business Standard)
3.IDBI Bank (+8%) rose after SEBI allowed the govt to re-classify its stake in IDBI Bank as public for ease of divestment. (Business Line)
4.Landmark Cars (+5%) rose and hit a new high after a weak market debut. (Business Standard)
5.Dabur India (-3%) declined due to weak Q3 business updates. (Money Control)
Market Sentiment
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