The segment’s recovery continued to gain strength heading into the Diwali holidays as the Nifty Midcap 100 rose over 0.8 per cent on a day when the Nifty50 closed 0.2 per cent lower. At the smallcap segment, the mood was even more festive as the Nifty Smallcap 100 index outperformed all with gains of more than 1 per cent in the session.
While largecap stocks, usually dominated by institutional investors, are struggling for momentum, broad market stocks, led by retail investors, are getting ready for another rally.
gets gold rush
While it is an age-old tradition among Indians to buy gold on the occasion of Dhanteras, some investors thought better and ended up buying shares of jewellery maker Titan instead.
The company’s September quarter earnings had already given a glimpse of the extent to which the business momentum was recovering. Now with the festive season at its peak and the wedding season kick-starting soon, the company is counting on a blockbuster December quarter.
Tata Motors’ investors look to the future
Despite a dismal September quarter performance, shares of
ended the day in the green. Investors were willing to afford the company another weak quarterly performance in exchange for a promising future.
The quarter’s performance was largely marred by factors that were not under the company’s control — such as the global chip shortage. However, both JLR and the domestic business are showing robust demand, which the investors are hoping to capitalise on in the coming quarters.
Further, JLR’s ability to generate free cash flow in a quarter where they expect more than £1 billion of outflow is commendable. No wonder then that investors are willing to stick their neck out for the stock, at least for the time being.