Sensex, Nifty Poised For A Subdued Start; Titan, Tata Motors, Anant Raj, Lloyds Metals, KPIT Stocks Are In Focus
Indian equity markets are set for a tepid opening on Wednesday, with the Gift Nifty, an early indicator for the Nifty 50 index, edging 0.04% higher to 25,228 at 8:25 a.m. IST.
The markets ended higher for a fourth consecutive session on Tuesday, with gains from real estate, energy, and pharmaceutical stocks, partially offset by losses in the FMCG, metals, and financial sectors.
Asian markets were mixed on Wednesday. The bourses in Shanghai and Shenzhen were in the green, while those in Taiwan and Hong Kong declined.
At the time of writing, the gold spot price was up 1.38% at $4,006.47 per ounce, breaching the $4,000 mark for the first time ever. Brent crude traded up 0.86% at $66.01 per barrel.
Stock Watch
Titan Company: Reported an 18% growth in its domestic business, led by a 19% rise in jewellery sales and 12% growth in watches in Q2. The eyecare segment grew 9%, while emerging businesses surged 37%. International operations increased by 86%, and the consumer business expanded by 20%. The company added 55 stores, expanding its retail presence to 3,377 outlets.
Tata Motors: JLR’s wholesales fell 24.2% in Q2 to 66,165 units, and retail sales dropped 17.1% to 85,495 units due to the cyber incident. Range Rover, Range Rover Sport, and Defender models accounted for 76.7% of volumes.
SH Kelkar and Company: Consolidated revenues grew 13% to ₹1,140 crore in H1.
Shringar House of Mangalsutra: Profit rose 67.7% to ₹28.5 crore in Q1, revenue increased 22.7% to ₹332.6 crore, and EBITDA jumped 63% to ₹41.2 crore, with margins expanding 310 bps to 12.4%.
Saatvik Green Energy: Received solar PV module orders worth ₹488 crore and an additional ₹219.6 crore via subsidiary Saatvik Solar Industries.
Anant Raj: Opened its QIP issue on October 7 at a floor price of ₹695.83 per share.
Container Corporation of India (CONCOR): Signed an agreement with UltraTech Cement for bulk cement transportation via specialized tank containers.
Lloyds Metals and Energy: Received CCI approval to acquire a 49.99% stake in Thriveni Pellets.
IRB Infrastructure Developers: Reported ₹556.7 crore in September toll collections, up 11% year-on-year.
Associated Alcohols & Breweries: Started malt spirit manufacturing and maturation at its Barwaha facility after obtaining the SL-1 license.
KPIT Technologies: Acquired an additional 62.9% stake in N-Dream for €16.35 million, raising total ownership to 88.9%.
Nila Infrastructures: Secured a Letter of Intent from Ahmedabad Municipal Corporation for a ₹105.02 crore slum rehabilitation project.
Godrej Consumer Products: Expects mid-single-digit value growth driven by home care momentum. Personal care may see a mild decline, while GAUM (Africa, USA, Middle East) is expected to post double-digit growth. However, the GST transition may temporarily impact profitability and EBITDA.
Keystone Realtors: Pre-sales in Q2 rose 9% to ₹763 crore, and collections grew 9% to ₹601 crore. The company launched one project with a saleable area of 0.21 million sq. ft. and a GDV of ₹949 crore.
Lodha Developers: Pre-sales in Q2 increased 7% to ₹4,570 crore, while collections rose 13% to ₹3,480 crore. Lodha added a new project in MMR with a GDV of ₹2,300 crore.
Active IPOs
Tata Capital, LG Electronics India, Anantam Highways Trust
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