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Gift Nifty Up 100 Points | Titan Q4 Results & Dividend | Indegene IPO Sees Institutional Influx | Top Buzzing Stocks Today

Mon, 6 May Pre-Open

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Indian share markets Slipped further as the session progressed and ended the day weak.

Selling pressure in index heavyweights Reliance Industries (RIL) and HDFC Bank dragged Indian headline indices on Friday.

At the closing bell on Friday, the BSE Sensex closed lower by 733 points (down 0.9%).

Meanwhile, the NSE Nifty closed lower by 172 points (down 0.8%).

ONGC, Hindalco and Coal India were among the top gainers.

Nestle, Maruti Suzuki and L&T on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day lower. The BSE Mid Cap ended 0.2% lower and the BSE Small Cap index ended 0.6% lower.

Sectoral indices are trading on negative note with socks telecom sector, capital goods sector and realty sector witnessing selling pressure.

Gold prices for the latest contract on MCX were trading marginally lower at Rs 70,660 per 10 grams at the time of Indian market closing hours on Friday.

At 8:00 AM today, the Gift Nifty was trading up by 100 points at 22,681 levels.

Indian share markets are headed for a positive start today following the trend on Gift Nifty.

Speaking of stock markets, Rahul Shah, Co-head of Research at Equitymaster argues that it's better to analyse a company first to determine its intrinsic value before looking at the market price to avoid bias.

We try this technique on a prominent Tata group stock and come away with a surprising result.

Tune in to find out the result.

Top buzzing stocks today

Ceat share price will be in focus today.

Shares of CEAT plunged 9.8% on May 3 as the company's lacklustre Q4 results left investors unimpressed.

The tyre maker reported a 23% year-on-year decline in its consolidated net profit at Rs 1 billion (bn) for the fourth quarter ended March 2024 on higher rubber costs, and new regulation on extended producer responsibility (EPR) liability.

Bharat Forge will also be a top buzzing stock.

Shares of Bharat Forge Limited declined slightly over 2% in the afternoon on 3 May after class 8 truck orders in the North American regions plunged to a nine-month low in April.

Figures show that North America Class 8 truck orders declined 18% month-on-month in April to the lowest level since July 2023.

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Titan Q4 Results & Dividend

Titan Company on 3 May reported a standalone net profit of Rs 7.9 bn for the March quarter, a growth of 7% from Rs 7.3 bn in the year-ago period.

The jeweller and watchmaker's revenue came in at Rs 100.5 bn, rising 17% from Rs 85.5 bn in the year-ago quarter.

Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter was at Rs 11.1 bn, growing by 6.2%. EBITDA margins declined by 0.9% YoY to 9.9%.

The Board has recommended a dividend of Rs 11 per equity share of Re 1 face value, payable or dispatched after the conclusion of the 40th Annual General Meeting, pending approval from the company's shareholders.

Tanishq expanded globally by opening new stores in Dubai and Chicago, USA, increasing Titan's Jewelry presence to 16 stores worldwide. Within India, Tanishq launched 11 new stores during the quarter, while Mia added 16 new stores.

Titan introduced new analogue collections, including 'Ceramic Fusion Automatics' and 'Classique Slim Multifunction' during the quarter. Raga's new collections featured four stylish clusters to match diverse consumer tastes.

In terms of expansion, 10 new stores were added to Titan World, 14 to Helios, and 20 to Fastrack during the quarter.

During the quarter, Titan Eye+ inaugurated one new store in Dubai and transformed five Fastrack eyewear stores into Titan Eye+ outlets in the domestic market.

For more details check out Top Stocks that Benefit from Rising Gold Prices.

Indegene IPO Sees Institutional Influx

Indegene, which provides digital-led commercialization services for the life sciences industry, mobilised Rs 5.5 bn from anchor investors on 3 May, a day before the IPO opening.

The public issue will open for subscription on 6 May and the last day will be 8 May. This would be the first initial public offering to get launched in May.

The private equity firms Carlyle and Nadathur Fareast-backed Indegene informed exchanges that it has finalised the allocation of 1,21,41,102 equity shares to anchor investors for Rs 452 per share.

Marquee investors Smallcap World Fund Inc, Abu Dhabi Investment Authority, American Funds Insurance, Custody Bank of Japan, Destinations International Equity Fund, East Bridge Capital Master Fund, and Copthall Mauritius Investment invested in Indegene IPO via anchor book.

Further, asset management companies including SBI Mutual Fund, ICICI Prudential MF, Nippon Life India, Whiteoak Capital, DSB Mutual Fund, Bandhan Mutual Fund, Kotak Mutual Fund, and Baroda BNP Paribas Mutual Fund were also investors in the anchor book.

Even insurance companies like Aditya Birla Sun Life Insurance, Bajaj Allianz Life Insurance, and Bharti Axa Life Insurance participated in the anchor book.

Indegene, which helps pharma companies with drug development and clinical trials, regulatory submissions, pharmacovigilance and complaints management, and sales and marketing of their products intends to raise Rs 18.4 bn through initial share sale at the upper price band.

For more details on IPO, check out Indegene IPO: 5 Things to Know.

NSE Q4 Profit Jumps 20%

The National Stock Exchange (NSE) on Friday reported a 20% year-on-year increase in consolidated net profit at Rs 24.9 bn for three months ended March 2024.

The consolidated operating revenues stood at Rs 46.3 bn for the January-March quarter of the financial year 2023-24, marking a surge of 34 per cent year-on-year.

Apart from trading, the total revenue was also supported by other revenue lines, including listing, index services, data services and co-location facility, the exchange added.

NSE Board has recommended a dividend of Rs 90 per share (pre-bonus) for the fiscal year ended 2023-24, amounting to a pay-out of Rs 44.6 bn.

Also, the board has recommended the issue of 4 bonus shares for the existing 1 share held. This is subject to necessary approvals from shareholders and regulators for an increase in authorised share capital.

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

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