Titan Company Ltd., Rekha Jhunjhunwala's biggest stock bet, reported a miss in consensus earnings driven by weaker jewellery margins for two consecutive quarters. Jefferies, which has a 'hold' rating and a target price of ₹3,500 per share on the counter, said that Titan's share price will trade weak today. The brokerage expects the Titan Company stock to stay rangebound in the near term.
Open FlipAt the pre-opening bell, the frontline index S&P BSE Sensex opened in green with a gain of 340.91 points or 0.46 per cent. By 9.15 am, the index stood at 74,073.65 signifying a gain of 195.5 points or 0.26 per cent over its previous closing. Meanwhile, 📌EIH Ltd, 📌Birla Corporation Ltd and 📌TVS Holdings Ltd emerged as the Top Gainers of BSE in the pre-opening session today.
Open FlipShares of Deepak Nitrite Ltd. surged to the highest level since January 2022 after brokerage firm Morgan Stanley double-upgraded the stock to "overweight" from its earlier rating of "underweight." Morgan Stanley has also upgraded its price target on Deepak Nitrite to ₹2,985 from ₹1,625 earlier. The revised price target implies a potential upside of 22% from Friday's closing levels.
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