Market Bizzz

Gold price: Gold futures reached an all-time high of Rs 85,279on the MCX, influenced by global prices. April gold contracts surged by Rs 650 or 0.77% to Rs 85,094 per 10 grams. This increase follows disappointing US job data. Analysts predict continued bullish trends given global uncertainties, with prices potentially reaching Rs 87,000 by Diwali.

Pinterest’s shares rose 20% on Friday as it forecast first-quarter revenue above estimates, indicating that its AI-powered tools would spur ad spend on the image sharing platform.

Trent’s Q3 FY25 net profit rose 33% YoY to Rs 497 crore, with revenue increasing 34% to Rs 4,657 crore. Sequentially, profit grew 47%, while revenue rose 12%. The company continues expanding its store network, adding 14 Westside and 62 Zudio stores. Analysts are mixed, with Jefferies cautious, while Bernstein and Morgan Stanley remain positive on the stock.

The NII got impacted mainly on account of the cost of resources going up. And we believe that cost of resources, particularly on the deposit side, are peaked out. And we hope to improve the NII going forward.

JM Financial maintains a buy call on Tata Power with a target price of Rs 456. Tata Power reported consolidated revenue of Rs 154 billion and EBITDA of INR 31bn led by regulatory upside in Mundra. The company is well-positioned for growth in transmission, distribution, renewable business, and hydro storage.

The rupee, currently valued around 87-87.5, has depreciated to align with other global currencies. Foreseen measures from the Reserve Bank, including revised foreign currency deposit schemes and eased borrowing criteria, are expected to stabilize it. Market participants believe that further accommodative moves by the RBI in the upcoming policy will calm currency concerns.

Sudip Bandyopadhyay highlights promising sectors such as specialty chemicals, with undervalued companies like SRF and Deepak Nitrite showing recovery. He prefers Vedanta for its potential value unlocking in metals. Though supportive of a rate cut by RBI, he stresses liquidity creation’s immediate impact. He remains positive on the long-term power sector investments like NTPC and BHEL.

Titan shares are under scrutiny following a slight dip in Q3 net profit to Rs 1,047 crore, despite a 25% increase in total income. Analysts are optimistic about Titan’s growth, with Macquarie maintaining an ‘Outperform’ rating and Goldman Sachs giving a ‘Buy’ rating due to strong jewelry segment performance.

Tata chemicals share price: The company recorded an exceptional charge of Rs 70 crore in Q3FY25, resulting from employee termination benefits, the decommissioning of plant and machinery, and other closure-related expenses after halting soda ash production at the Lostock plant in Northwich, UK.

Prashant Khemka, Founder of White Oak Capital Management, anticipates a shift in performance between cyclical and defensive stocks. The Budget may reinforce this phenomenon. Khemka advises maintaining a balanced portfolio, emphasizing stock picking over top-down calls. He also notes the potential positive impact of income tax savings on demand and broad sectoral benefits.