Britannia (+1%), Reliance (+1%) & more

Tribe Daily

Tribe Wealth

Jan 6

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)