Sensex Today Trades Flat; NTPC & Adani Ports Among Top Gainers

Asian markets tumbled on Monday after China delivered a smaller cut to lending rates than markets had counted on, continuing Beijing's run of disappointing stimulus steps.

The Nikkei is trading 0.7% higher while the Hang Seng index is down 1.4%. The Shanghai Composite is trading 0.4% lower.

US stocks closed mixed on Friday, while US Treasury yields stabilized following a spike in recent days. Further, investors waited for interest rate insights from the Federal Reserve next week.

The Dow Jones Industrial Average ended marginally higher and the Nasdaq Composite lost 0.2%.

Here's a table showing how US stocks performed on Friday:

Stock/Index LTP Change ($) Change (%) Day High Day Low 52-Week High 52-Week Low
Alphabet 128.11 -2.35 -1.80% 129.83 127 134.07 83.45
Apple 174.49 0.49 0.28% 175.1 171.96 198.23 124.17
Meta 283.25 -1.84 -0.65% 285.69 274.38 326.2 88.09
Tesla 215.49 -3.73 -1.70% 217.58 212.36 313.8 101.81
Netflix 404.53 1.53 0.38% 406.52 398.15 485 211.73
Amazon 133.22 -0.76 -0.57% 134.07 131.15 143.63 81.43
Microsoft 316.48 -0.4 -0.13% 318.38 311.55 366.78 213.43
Dow Jones 34,500.70 25.8 0.07% 34,587.07 34,263.19 35,679.13 28,660.94
Nasdaq 13,290.80 -26.2 -0.20% 13,335.87 13,161.77 14,446.55 10,088.83

Source: Equitymaster

Back home, Indian share markets are trading on a positive note.

At present, the BSE Sensex is trading higher by 28 points. Meanwhile, the NSE Nifty is trading marginally higher.

NTPC and Adani Ports are among the top gainers today.

HUL and M&M on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index and the BSE Small Cap index are trading 0.5% higher.

Sectoral indices are trading on a positive note with stocks in the power sector and telecom sector witnessing most buying.

Shares of Emami and KPR Mill hit their 52-week high today.

The rupee is trading at Rs 83.09 against the US dollar.

In commodity markets, gold prices are trading marginally higher at Rs 58,440 per 10 grams today.

Meanwhile, silver prices are trading 0.4% higher at Rs 70,515 per 1 kg.

Tata's new EV partnership

Tata Sons is in discussions with multiple startups as the conglomerate seeks technical know-how for its £4 billion ($5.1 billion) UK battery plant, where it aims to start mass production in 2026.

The collaborations for the battery plant, capable of supplying cells for at least 500,000 vehicles a year, could range from a joint venture and sharing of knowledge to experimentation and licensing agreements.

Tata intends to have partners across the whole pathway from cell chemistry to manufacturing to industrialization.

The conglomerate is speaking to several companies involved in different stages of the value chain research and development, manufacturing innovation, and refining and plans to make an announcement soon after narrowing down the options.

Tata's push adds to a host of carmakers like Mercedes-Benz Group Ag, Stellantis NV, and Nissan Motor Co., who have mostly chosen to work with long-standing battery makers in scaling up Europe's battery supply.

The factory is a win for the UK's car industry which has been struggling in the aftermath of Brexit and the switch to electric vehicles. The UK produced 775,000 cars last year, the fewest since 1965 after the global semiconductor crunch and the closing of some factories hit output.

Jaguar Land Rover Automotive Plc. and Tata Motors, which is a leader in India's EV market, are anchor customers for the plant that will provide 40-gigawatt hours worth of batteries with supplies starting from 2026.

JLR plans to invest £15 billion over the next five years in developing electric cars and autonomous-driving features.

The electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

Titan Bolster's ownership in CaratLane

Titan has agreed to buy a further 27.18% stake in online jewelry retailer CaratLane for Rs 46.2 bn in a deal that values the company at Rs 170 bn.

In what is the second biggest e-commerce exit after Walmart bought 77% of Flipkart for US$ 16 bn in 2018 giving Sachin Bansal and Binny Bansal an exit, CaratLane founder Mithun Sancheti and his family have sold their stake in the online retailer.

Titan currently holds 71.1% of the total equity share capital of CaratLane on a fully diluted basis. The proposed acquisition would further increase the company's stake in CaratLane to 98.3%.

The transaction will be subject to completion of customary regulatory approvals and closing conditions and is expected to be financed through a combination of cash balances, internal accruals, and debt.

CaratLane is an unlisted private company engaged in the manufacture and sale of jewelry and is a subsidiary of Titan.

CaratLane started as a pure online brand in 2008. Titan first invested in CaratLane in 2016, and over the past eight years, in partnership with Tanishq, the brand has grown at a rapid pace.

In the last three fiscal years, its sales have grown at a CAGR of 74%, albeit on a low base of a Covid-affected year.

Speaking of Titan, here's some interesting data, even a tiny investment of Rs 1,000 per month in the stock of Titan, since 2002, would have led to mouthwatering returns.

Take a look at how the power of compounding has gone wild here...

Believe it or not, Titan was a Tata group penny stock two decades ago.

With the consistent expansion in the luxury segment, Titan stands among the top 5 jewelry stocks in India.

More By This Author:

Sensex Today Falls 202 Points; IT Stocks Worst Hit
Sensex Today Trades Lower; TCS & Wipro Among Top Losers
Sensex Today Ends 388 Points Lower

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity ...

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