Sensex Trades Higher; Tech Mahindra & IndusInd Bank Top Gainers

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Share markets in India are presently trading on a positive note. Barring energy sector and oil & gas sector, all sectoral indices are trading on a positive note with stocks in the realty sector, capital goods sector and metal sector witnessing maximum buying interest.

The BSE Sensex is trading up by 186 points (up 0.5%), while the NSE Nifty is trading up by 55 points (up 0.5%). The BSE Mid Cap index is trading up by 0.8% and the BSE Small Cap index is trading up by 1%.

The rupee is trading at Rs 70.79 against the US$.

Market participants are tracking Nilkamal share price, Indiabulls Housing Finance share price, and Pidilite Industries share price as these companies are set to announce their June quarter (Q1FY20) results later today.

You can read our recently released Q1FY20 results: Ceat, Apollo Tyres, ITC, Nestle, Bata India.

In news from the textiles sector, SRF share price is witnessing buying interest today after the company posted strong numbers for the quarter ended June 2019.

The company registered 42% jump in its Q1 profit to Rs 1,892 million against Rs 1,338 million in the same quarter last year. Revenue rose by 9% at Rs 18,284 million versus Rs 16,762 million.

Company's net sales witnessed 5.4% growth at Rs 15,240.4 million in June 2019 from Rs 14,458.8 million in June 2018. EBITDA stood at Rs 3,224.2 million in Q1FY20, up 18.6% from Rs 2,717.6 million in Q1FY19.

Shares of the company gained 12% in early trade today on back of the above news.

The board of directors of the company declared interim dividend at 70% i.e. Rs 7 per equity share on the paid-up share capital of the company.

The board also approved a project for setting up of an integrated facility for the development of Polytetrafluoroethylene (PTFE) at an estimated cost of Rs 4,240 million. The project proposes capacity addition of 5,000 million tonnes per annum and is to be completed by October 31, 2021.

The project is to be financed through a mix of debt and internal accruals. This is being done to enter into the fluoropolymers segment of fluorocarbons to derive cost advantage from the integrated value chain.

Moving on to news from the retail sector, Titan share price is in focus today. Reports state that the jewellery and watch maker company may manage to report a double-digit profit growth for June quarter.

The Tata Group firm reported a double-digit jewellery volume growth in the past three quarters. But in June quarter demand got impacted due to higher gold prices resulting in a miss on the internal estimates despite sustained market share gains.

As per an article in The Economic Times, estimates are 10% jewellery volume growth on muted demand scenario on the back of high gold prices and 11.5% EBITDA margins. Expectations for the near-term demand scenario to remain muted as consumers usually postpone demand in such a scenario.

In other news, Delhi High court gave Titan ad-interim relief against e-tailers and restrained them from selling, marketing or otherwise dealing in goods bearing the marks Titan and Fastrack of Titan.

A Tata press release said the court order dated 29 July 2019 also directs e-commerce player Snapdeal to take down within 24 hours of the order, the URLs against which Titan had lodged complaints.

The court also directed Snapdeal that in case Titan raises complaints of other or further URLs that sell counterfeit goods of Titan, these too shall be immediately removed.

Titan had filed a civil lawsuit in Delhi High Court against certain sellers and Snapdeal, alleging that they were selling counterfeit/infringing Fastrack watches on Snapdeal.

It also alleged that Snapdeal did not take down various listings of counterfeit Fastrack/Titan branded watches despite being notified about these by the company.

Titan share price is presently trading up by 0.3%.

Here's an interesting data on Titan, every Rs 100 invested in the company in 2002 would have multiplied 330 times by 2019!

Every Rs 100 Invested in Titan in 2002 Multiplied 330 Times by 2019

Co-head of Research, Tanushree Banerjee believes the opportunities in the Rebirth of India are not only more profitable than the ones in 2002 but the gains could come faster too.

Here's what she wrote in today's edition of The 5 Minute WrapUp...

• Titan entered the branded jewellery market in 1996.
  
  The retailer faced the challenge of breaching a well-entrenched network of family jewellers. The relationship between customer and family jewellers went back to a couple of generations.
  
  The habit of buying from the family jeweller was strong and the trust was intrinsic. One also had the option of returning old jewellery to the family jeweler.
  
  Through its jewellery brand, Tanishq, Titan broke down the early entry barriers in unorganized jewellery retailing. It consolidated its lead as very few national or branded players threw their hats in the ring.

She is on the hunt for the next set of Titan, HDFC Bank, Bajaj Finance, Asian Paints-like companies. These will be the companies that would catalyze the transformation she call the Rebirth of India.

In fact, she has shortlisted 7 stocks that will benefit the most when these trends playout.

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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