Fri, Feb 2, 2024 11:59 AM
Despite misses, top brokerages retain ratings on Titan. What to do?
A Flip by Avya Verma
Gold prices held steady on Wednesday (November 6), with investors closely monitoring the US election and upcoming Federal Reserve policy decisions. Spot gold traded at $2,745.42 per ounce as of early Wednesday, stabilising after reaching a record high of $2,790.15 last week. US gold futures also inched up by 0.2% to $2,754.10 per ounce.
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Titan share price declined over 3% on Wednesday after the company reported a sharp fall in net profit for the second quarter of FY25 impacted by a cut in customs duty on gold imports. Titan shares sank as much as 3.69% to ₹3,113.65 apiece on the BSE. Titan Company reported a net profit of ₹705 crore in the quarter ended September 2024, a fall of 25% from ₹940 crore in the year-ago period.
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Swiggy IPO will open for public subscription today at 10 am in the primary market. The food delivery and quick-commerce firm is aiming to garner Rs 11,327 crore from its much-awaited initial share. The valuation of Swiggy has been pegged at about Rs 95,000 crore at the upper price band. Rival Zomato, which went public in July 2021, has a market valuation of Rs 2.13 lakh crore.
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