Top 5 stocks of the day: Top gainers on the Nifty 50 were Titan, Adani Ports, Bajaj Finserv, Bajaj Finance and HDFC Bank while the losers were Divis Lab, Adani Enterprises, BPCL, Tata Consumer and Hindalco. Bank Nifty surged 830.40 pts or 2.04% to 41,499.70. The index’s top gainers were Bank of Baroda, HDFC Bank, State Bank of India, IndusInd Bank and PNB while IDFC First Bank was the lone loser.
Top 5 stocks of the day: Sensex and NSE Nifty50
Domestic equity indices rose by more than 1.5% on Friday, with the Sensex closing above 60,800 and the Nifty 50 closing above 17,850. During the day, indices were volatile, but by the end of the session, they had surged, finishing broadly in green. The NSE Nifty 50 gained 243 points, or 1.38%, to 17,854.05, while the BSE Sensex gained 909 points, or 1.52%, to 60,841.88.
ITC shares remain volatile; should you buy, hold or sell?
The ITC share price experienced a volatile day of trading on Wednesday as a result of the cigarette tax hike announced in Budget 2023. The ITC stock fell 6.6% intraday before soaring to a new 52-week high of Rs 365.65 on the BSE, up 3.7%. On Thursday, the tobacco giant extended its gains, gaining 7.4% over the previous two sessions. On Friday, the share price was 0.5% lower at Rs 376.65, ahead of the company’s Q3FY23 earnings.
Titan shares rise over 6%; should you buy, hold or sell?
Titan shares increased 6% to Rs 2,444 on Friday, February 3 2023, despite the company’s EBITDA falling short of market expectations. Titan was one of the late Rakesh Jhunjhunwala’s favourite stocks, and it hasn’t moved much since the big bull’s demise. The stock has dropped over 7% in the last month after rising nearly 200% in the previous five years. Several brokerages have given Titan shares a buy rating with a target price of up to Rs 3070.
Top 5 stocks of the day: Titan shares rise 4%
Titan shares were up 4.04% at Rs 2398.05, despite the company’s quarterly results falling short of market expectations. “Titans adjusted EBITDA for Q3 was 6-9% below estimates, on weaker margins in TEAL subsidiary and intl. investments. The standalone margins were in line with our expectations. The Jewellery segment experienced 15% UCP growth in Q3, led by 15-18% growth in Oct-22/Dec-22, while Nov-22 saw relatively weaker growth trends. Interestingly, Jan-23 has seen robust growth trends of >20% on a 3Y CAGR basis, which should drive Street earnings upgrades, according to Emkay Global analysts.
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.
