Sensex Today Trades Lower | Delta Corporation Tumbles 5%, Titan 2% | UPL & Hindalco Top Losers

Thu, 3 Aug 10:30 am

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Asian share markets are trading lower tracking overnight losses on Wall Street after Fitch's downgrade of the US sovereign rating somewhat dented sentiment, while strong payrolls data also pushed up concerns over rising interest rates.

The Nikkei is trading 1% lower, and the Hang Seng index is trading flat. While shanghai Index is trading 0.2% lower.

US stocks slumped on Wednesday, after Fitch Ratings cut the credit rating of the US government. The Dow Jones Industrial Average went down by 0.9% and the tech heavy Nasdaq Composite ended 2% lower.

Here's a table showing how US stocks performed on Wednesday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	128.64	-3.25	-2.46%	130.42	127.85	134.07	83.45
Apple	192.58	-3.02	-1.55%	195.18	191.85	198.23	124.17
Meta	314.31	-8.4	-2.60%	318.39	310.65	326.2	88.09
Tesla	254.11	-6.96	-2.67%	259.52	250.49	314.67	101.81
Netflix	429.7	-8.92	-2.03%	435.56	426.56	485	211.73
Amazon	128.21	-3.48	-2.64%	130.23	126.82	146.57	81.43
Microsoft	327.5	-8.84	-2.63%	333.63	326.36	366.78	213.43
Dow Jones	35,282.50	-348.2	-0.98%	35,551.92	35,226.26	35,679.13	28,660.94
Nasdaq	13,973.50	-310.5	-2.17%	14,133.85	13,914.81	14,446.55	10,088.83

Source: Equitymaster

Back home, Indian share markets are trading on a negative note today.

At present, the BSE Sensex is trading lower by 117 points. Meanwhile, the NSE Nifty is trading down by 36 points.

Sun Pharma and NTPC are among the top gainers today.

UPL and Titan on the other hand are among the top losers today.

Broader markets are trading on a mixed note. The BSE Mid Cap index and the BSE Small Cap index is trading flat.

Barring healthcare stocks, other sectoral indices are trading on a negative note with stocks in metal sector and realty sector witnessing most selling pressure.

Shares of Sun Pharma and Lupin hit their 52-week high today.

The rupee is trading at Rs 82.68 against the US dollar.

In commodity markets, gold prices are trading lower by 0.1% at Rs 59,410 per 10 grams today.

Meanwhile, silver prices are trading 0.5% lower at Rs 72,614 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of the stock markets, Rahul Shah co-head of research at Equitymaster, talks about a simple rule to navigate this all-time high market.

The index has already gone up 16% from its March lows and there is nothing on the horizon for the time being that can stop the rally in its tracks.

This presents the classic dilemma for the average investor. Should we take advantage of this rally and exit a few stocks, or should he keep riding the bull to new highs?

Tune in to the below video to know how to navigate.

Titan Q1 net profit falls 4.3%

Titan, on 2 August 2023, reported a consolidated net profit of Rs 7.6 billion (bn) for the June 2023 quarter, registering a decline of 4.3% from Rs 7.9 bn in the same quarter of the previous financial year.

The company reported a 2.7% rise in profit from Rs 7.4 bn in the previous quarter.

The total consolidated revenue is Rs 118.9 bn, rising 25.9% from Rs 94.4 bn in the year-ago quarter. The revenue increased 14.83% from Rs 103.6 bn in the previous quarter.

The company's India business grew by 20% in the same period, driven by healthy demand during Akshaya Tritiya and an attractive gold exchange programme.

The watches and wearables business recorded a total income of Rs 8.9 bn, up by 13% compared to Q1FY23 backed by strong growth of 81% in the wearables segment.

Speaking of Titan, here's some interesting data, even a tiny investment of Rs 1,000 per month in the stock of Titan, since 2002, would have led to mouthwatering returns.

Take a look at how the power of compounding has gone wild here...

Believe it or not Titan was a Tata group penny stock two decades ago.

With the consistent expansion in the luxury segment, Titan stands among the top 5 jewellery stocks in India.

Nykaa faces leadership crisis

Indian cosmetics-to-fashion retailer Nykaa witnessed a series of significant executive resignations, totalling six since April 2023.

This surge of departures comes amidst the escalating competition in the rapidly expanding sector.

Among the key exits is the departure of Chief Marketing Officer, Shalini Raghavan, prompting Nykaa's founder and CEO, Falguni Nayar, to assume direct oversight of this crucial function.

Reliance is setting up Tira to take on new-age players in the beauty and personal care space, while Tata is ramping up its e-commerce offerings under Tata Cliq and is roping in experienced people to lead its efforts. With deep pockets, large traditional players have been able to attract talent from companies like Nykaa.

Just as these departures come to be known, Nykaa made new appointments but did not shed light on why the senior management was quitting in large numbers.

To know what is the right course of action in these new-age tech stocks, check out Zomato, Paytm, and Nykaa: Buy, Avoid, Hold, or Sell?

Mankind Pharma Q1 Results

Mankind Pharma reported a 66% year-on-year (YoY) increase in profit after tax (PAT) for the first quarter (Q1) of 2023-24 (FY24), reaching Rs 4.9 bn.

This surge was supported by an 18% YoY rise in revenue from operations, amounting to Rs 2,5.8 bn. The revenue growth was driven by increased volume and strong traction in the chronic therapy segment.

During Q1FY24, the earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at Rs 6.6 bn. This resulted in an Ebitda margin of 25.6%, which showed an improvement compared to the Rs 4.6 bn and 21.1% Ebitda margin recorded in Q1 of 2022-23.

As a company focused on the domestic market, Mankind achieved a 14% YoY growth in the domestic business during Q1FY24 and maintained its No. 4 position with a market share of 4.4%.

The company's volume growth was 4.3%, outperforming the IPM's 1.4%, and its chronic drugs portfolio witnessed a 17% YoY growth.

Mankind's export business expanded by 214% YoY to Rs 1.6 bn.

The healthcare and pharma megatrend is unstoppable in India. Also, to know which are the best pharma and healthcare stocks in India right now, check out the best pharma companies in India.

And 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!

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