After opening the day on a flat note, share markets in India have extended early gains and are presently trading higher.
The BSE Sensex is trading up by 325 points, at 34,700 levels.
Meanwhile, the NSE Nifty is trading up by 94 points.
The BSE Mid Cap index is trading up by 1.3%. The BSE Small Cap index is trading up by 0.5%.
On the sectoral front, gains are largely seen in the realty sector and FMCG sector.
Energy stocks, on the other hand, are witnessing selling pressure.
The rupee is trading at 75.46 against the US$.
Gold Prices are currently trading down by 0.2% at Rs 46,012.
Moving on, market participants are tracking Affle India share price as the company announced the acquisition of Singapore-based Appnext Pte Ltd.
Reportedly, Affle will initially acquire 66.67% equity ownership in Appnext Singapore, with a clear path to acquire 100% equity ownership upon attainment of mutually agreed growth targets.
In news from the retail sector, jewelry maker Titan on Monday posted a growth of 21.1% in its net profit at Rs 3,567.9 million for the quarter ended March 31, 2020 (Q4FY20).
In Q4FY19, the company had reported an exceptional item of Rs 700 million on account of a provision for impairment of investment in a subsidiary Favre Leuba, Switzerland.
Titan's standalone profit before tax stood at Rs 5.2 billion during the quarter under review, against Rs 4.6 billion last year.
In a press release, the company said, "the standalone growth in profit before tax for the quarter, despite the decline in the revenue, was possible due to significant compression of cost in anticipation of the disruption".
However, the company's total income declined by 5.5% year-on-year (YoY) to Rs 44.7 billion.
The company's jewelry revenues declined by 5.8% YoY.
The company's income from watches grew 4.9% to Rs 5.6 billion. The eyewear business declined 17.4% in the quarter, recording income of Rs 1.1 billion.
For the whole year ended March 2020, Titan posted total revenue of Rs 201.6 billion, growing 4.7% over the previous year.
Titan share price is presently trading up by 0.8%.
Here's an interesting data on Titan, every Rs 100 invested in the company in 2002 would have multiplied 330 times by 2019!
Every Rs 100 Invested in Titan in 2002 Multiplied 330 Times by 2019
Moving on, shares of Adani Green Energy hit a new high of Rs 312.75 on the BSE today after the company said it has bagged the world's largest solar bid worth US$ 6 billion.
In an exchange filing, the company said that it has won the first of its kind manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI).
As a part of the award, Adani Green Energy will develop 8 GW of solar projects along with a commitment that will see Adani Solar establish 2 GW of additional solar cell and module manufacturing capacity.
It further said that this award, the largest of its type, in the world, will entail a single investment of Rs 450 billion and will create 400,000 direct and indirect jobs.
It will also displace 900 million tonnes of carbon dioxide over its lifetime.
The company's management said this award will take the company closer to its target of achieving an installed generation capacity of 25 GW of renewable power by 2025 which in turn will see it committing an investment of Rs 1,120 billion (US$ 15 billion) in the renewable energy space over the next 5 years.
Shares of Adani Green Energy are locked in the upper circuit limit of 5%.
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