Titan Company Ltd Share Price – NSE  /  BSE

Diamond, Gems and Jewellery, Mid Cap

Shares of companies engaged in gold and silver business rallied after the Union FM, Nirmala Sitharaman announced that to enhance domestic value addition, the customs duty on gold and silver will be reduced to 6%, while the duty on platinum will be lowered to 6.4%.

PC Jeweller (up 5%), Titan Company (up 3.50%), Tribhovandas Bhimji Zaveri (up 2.35%), Rajesh Exports (up 2.50%), Utique Enterprises (up 2.46%), Goldiam International (up 1.97%) advanced.

Finance Minister Nirmala Sitharaman is presenting the first Union Budget of the Modi 3.0 government and her 7th consecutive one during the Monsoon Session of Parliament.

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Titan Company will hold a meeting of the Board of Directors of the Company on 2 August 2024.

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The benchmark indices traded with minor losses in mid-morning trade. The Nifty traded below the 24,300 level after hitting the day's high of 24,338.85 in early trade. Consumer durables, PSU bank and metal shares declined while FMCG and oil & gas shares advanced.

At 13:30 IST, the barometer index, the S&P BSE Sensex was down 92.70 points or 0.12% to 79,903.90. The Nifty 50 index lost 39.25 points or 0.16% to 24,284.60.

In the broader, the S&P BSE Mid-Cap index fell 0.25% and the S&P BSE Small-Cap index shed 0.16%.

The market breadth was negative. On the BSE, 1,703 shares rose and 2,285 shares fell. A total of 127 shares were unchanged.

Gainers & Losers:

Oil & Natural Gas Corporation (up 2.22%), ITC (up 1.59%), Hindustan Unilever (up 1.55%), Wipro (up 1.13%) and Nestle India (up 1%) were major Nifty gainers.

Titan Company (down 3.82%), Divi's Laboratories (down 3.67%), Bharat Petroleum Corporation (down 2.05%) Shriram Finance (down 1.97%), and Adani Enterprises (down 1.92%) were major Nifty losers

Titan Company slipped 3.82%. The Tata Group company on Friday announced that it has a revenue growth of 9% year on year (YoY) for the quarter ended 30 June 2024.

Stocks in Spotlight:

Larsen & Toubro added 0.10%. The company said that its Renewable arm has finalised mega orders with a leading developer in the Middle East to build two gigawatt-scale solar PV plants with a cumulative capacity of 3.5 gigawatt (GW).

Dabur India rallied 3.45% after the company's consolidated revenue is expected to register mid to high single digit growth during Q1 FY25.

Adani Wilmar advanced 1.98% after the firm said that it has achieved robust volume growth of 13% YoY in Q1 FY25, propelled by market-specific strategies in each category, aimed at gaining market share, especially in under-indexed markets,

Marico jumped 4.01% after the FMCG major said that its domestic business saw a modest uptick in underlying volume growth on a sequential basis.

FSN E-Commerce Ventures (Nykaa) rose 0.76%. The company said that it has expected a consolidated revenue growth to be around 22-23% YoY in Q1 FY25.

Bank of Baroda declined 3.51%. The public sector bank reported 8.51% rise in domestic advances to Rs 8,81,817 crore as on 31 June 2024 from Rs 8,12,626 crore as on 31 June 2023.

Global Markets:

European stocks advanced on Monday, as markets reacted to a surprise win for a left-wing coalition of parties in French elections.

On the other hand, Asian stocks declined, with China leading the decline. Investor concerns swirled around a potential trade war with the West, fueled by the EU's tariffs on Chinese electric vehicles mirroring similar US actions. This escalation heightened fears of a wider conflict and retaliation from China. Additionally, disappointing economic data from Japan and Australia dampened overall sentiment.

In stark contrast, US stocks soared on Friday, reaching record highs. Investors interpreted a weaker-than-expected jobs report as a sign of potential future interest rate cuts from the Federal Reserve. The S&P 500 and Nasdaq both closed at all-time highs, while the Dow Jones also gained slightly.

The US economy added 206,000 new nonfarm jobs in June, exceeding economist expectations. However, the unemployment rate rose slightly to 4.1%, which was unexpected. All eyes are now on Fed Chair Jerome Powell's comments and key inflation data this week for further clues on the direction of US monetary policy.

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The frontline indices traded with small losses in mid-morning trade. The Nifty traded below the 24,300 level after hitting the day's high of 24,338.85 in early trade. PSU bank shares declined after advancing in the previous three consecutive trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex was down 110.33 points or 0.14% to 79,891.81. The Nifty 50 index lost 34.25 points or 0.14% to 24,289.60.

In the broader, the S&P BSE Mid-Cap index rose 0.01% and the S&P BSE Small-Cap index shed 0.05%.

The market breadth was negative. On the BSE, 1,749 shares rose and 2,117 shares fell. A total of 146 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index shed 0.92% to 7,289.10. The index added 2.49% in the past three consecutive trading sessions.

Bank of Baroda (down 2.85%), Indian Bank (down 1.09%), UCO Bank (down 0.92%), Punjab & Sind Bank (down 0.85%), Union Bank of India (down 0.84%), Canara Bank (down 0.82%), Bank of Maharashtra (down 0.72%), Indian Overseas Bank (down 0.65%), Central Bank of India (down 0.55%) and Punjab National Bank (down 0.25%) edged lower.

Stocks in Spotlight:

Titan Company slipped 3.95%. The Tata Group company on Friday announced that it has a revenue growth of 9% year on year (YoY) for the quarter ended 30 June 2024.

KPI Green Energy added 3.03% after the company signed a power purchase agreement (PPA) for a 50MW Solar-Wind Hybrid Power Project with Gujarat Urja Vikas Nigam (GUVNL).

AU Small Finance Bank fell 3.20%. The bank has recorded 4.9% rise in gross advances to Rs 90,700 crore as on 30 June 2024 as compared with Rs 86,478 crore as on 31 March 2024.

Global Markets:

Asian stocks declined on Monday, with China leading the decline. Investor concerns swirled around a potential trade war with the West, fueled by the EU's tariffs on Chinese electric vehicles mirroring similar US actions. This escalation heightened fears of a wider conflict and retaliation from China. Additionally, disappointing economic data from Japan and Australia dampened overall sentiment.

In stark contrast, US stocks soared on Friday, reaching record highs. Investors interpreted a weaker-than-expected jobs report as a sign of potential future interest rate cuts from the Federal Reserve. The S&P 500 and Nasdaq both closed at all-time highs, while the Dow Jones also gained slightly.

The US economy added 206,000 new nonfarm jobs in June, exceeding economist expectations. However, the unemployment rate rose slightly to 4.1%, which was unexpected. All eyes are now on Fed Chair Jerome Powell's comments and key inflation data this week for further clues on the direction of US monetary policy.

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