Titan's Quarterly Update, IndiaMART's Investment in Inventory Management SaaS Startup, and Buzzing Stocks Today

Fri, 7 Jan Pre-Open

   Previous Close   

   SGX Nifty   

   10:30 am   

   Closing   

Indian share markets ended on a weak note yesterday.

Benchmark indices broke their four-day winning streak and ended lower on the back of weak global cues.

Global markets were under pressure as persistent inflationary pressure and fears of a faster-than-expected rise in US interest rates weighed on riskier assets.

At the closing bell yesterday, the BSE Sensex stood lower by 621 points (down 1%).

Meanwhile, the NSE Nifty closed lower by 179 points (down 1%).

UPL and IndusInd Bank were among the top gainers.

JSW Steel and UltraTech Cement, on the other hand, were among the top losers.

Both, the BSE Mid Cap index and the BSE Small Cap index ended on a flat note.

Sectoral indices ended on a mixed note with stocks in the IT sector, realty sector and energy sector witnessing most of the selling pressure.

Telecom and auto stocks, on the other hand, witnessed buying interest.

Shares of KPIT Technologies and Balrampur Chini hit their respective 52-week highs.

Gold prices for the latest contract on MCX were trading down by 1% at Rs 47,560 per 10 grams at the time of closing stock market hours yesterday.

Speaking of stock markets, in his latest video for Fast Profits Daily, Brijesh Bhatia shares his view on midcaps and smallcaps in 2022.

In a video last year, Brijesh had said midcaps and smallcaps would outperform the Nifty and that's exactly what happened. The broader market created a lot of wealth for traders and investors in 2021.

Will this trend continue in 2022? Brijesh answers this question in the video below.

Top Stocks in Focus Today

Among the buzzing stocks today will be Reliance Industries.

Reliance Industries (RIL announced that it has raised US$4 bn in US dollar bond issuance in three-tranches.

It has been the largest ever foreign currency bond issuance from India, the company said.

The notes were nearly 3 times oversubscribed with a peak orderbook aggregating around US$11.5 bn and were priced through RIL's secondary curve.

The conglomerate raised US$1.5 bn in a 10-year tranche, US$1.8 bn in a 30-year and US$750 m in a 40-year deal.

Part of the cash will be used to refinance US$1.5 bn worth of debt due to mature in February.

'Interest on the notes will be payable semi-annually in arrears and the notes shall rank pari passu with all other unsecured and unsubordinated obligations of RIL. The bond proceeds will be primarily used for refinancing of existing borrowings', RIL informed in an exchange filing today.

The notes received orders from over 200 accounts in Asia, Europe and the United States. In terms of geographic distribution, the notes were distributed - 53% in Asia, 14% in Europe and 33% in the United States.

The notes were distributed to high quality fixed income accounts - 69% to fund managers, 24% to insurance companies, 5% to banks and 2% to public institutions.

Titan share price will also be in focus today.

Titan Company on Thursday said it has witnessed strong demand across its consumer businesses and clocked 36% growth for the quarter ending December over the festive quarter last year.

Segment wise, buoyancy in jewellery demand driven by festive purchases in October and November helped the division achieve revenue uplift for the quarter, rising 37% over last year same period.

Both walk-ins and customer conversions were significantly higher compared to last year, Titan said, adding that new buyer growth was higher than total buyer growth driven partly by Tanishq's regionalization strategy of winning in focus markets.

'While ticket sizes were stable, they were 15% higher than pre-pandemic levels. The contribution from Tier-1 towns continued to improve and were close to pre-pandemic levels', it said.

Tanishq recorded a network expansion of 14 stores (net) including 2 new stores in Dubai at prime locations of Dubai mall and Al Barsha.

The watches and wearables division saw strong growth momentum with multi brand channels, both online and offline, growing handsomely in the quarter, mainly on the back of Titan brand. The segment grew by 28% with 20 new store additions in the third quarter.

Overall, Titan Company's standalone business clocked a revenue growth of 36% during the quarter.

Indiamart Acquires 26.01% Stake in EasyEcom

B2B e-online marketplace Indiamart on Thursday said it has invested about Rs 133.5 m via its wholly-owned subsidiary Tradezeal Online to acquire a 26.015 stake in EasyEcom.

Edgewise Technologies - under the brand name 'EasyEcom' offers artificial intelligence (AI)-driven omnichannel inventory and warehouse management solutions to merchants.

Its solutions allow merchants to allocate, track and reconcile inventory across various online and offline sales channels.

It also offers additional modules which automate other back-office functions of merchants, such as shipping related payments reconciliation and returns reconciliation.

'This transaction is a part of Indiamart's ongoing efforts to make commerce easy for Indian merchants. Merchants across India have increasingly started to realise the importance of adopting various online sales channels, and the market in itself is large and fast-growing', Indiamart co-founder and Director Brijesh Kumar Agrawal said in a statement.

He added that EasyEcom's solutions allow MSMEs to easily manage and sell products across various sales channels.

Wockhardt Board Approves Plan to Raise Rs 10 bn via Rights Issue

Pharmaceuticals firm Wockhardt on Thursday said its board has approved a proposal to raise up to Rs 10 bn through a rights issue.

The objective of the issue is to meet the company's financing needs for repayment of subordinated debt due, financing research and development initiatives and general corporate purposes, among others, permitted by law, Wockhardt said in a regulatory filing.

The board of directors in its meeting held on Thursday considered and approved the issue of equity shares by way of a rights issue to the existing shareholders of the company for an amount not exceeding Rs 10 bn, it added.

Wockhardt further said its board has also authorised the Capital Raising Committee to decide on the terms and conditions of the issue, including the rights entitlement ratio, the issue price, record date, timing of the issue and other related matters.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers