After opening the day marginally higher, Indian share markets continued the momentum as the session progressed and ended the day higher.Indian benchmark indices rose for a third day on Tuesday, driven by auto, metal, and banking shares.At the closing bell, the BSE Sensex stood higher by 329 points (up 0.5%).Meanwhile, the NSE Nifty closed higher by 119 points (up 0.5%).Adani Enterprises, M&M, and L&T were among the top gainers today.Cipla, TCS, and Nestle on the other hand, were among the top losers today.The GIFT Nifty was trading at 22,307, up by 140 points, at the time of writing.The BSE MidCap index ended 1.1% higher and the BSE SmallCap index ended 1.8% higher.Sectoral indices are trading mixed with stocks in the metal sector, telecom sector, and power sector witnessing the most buying. Meanwhile, stocks in the FMCG sector and healthcare sector witnessed selling pressure.Shares of Bosch, ABB India, and Eicher Motors hit their respective 52-week highs today.The rupee is trading at 83.51 against the US$.Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 72,061 per 10 grams.Meanwhile, silver prices were trading 0.5% higher at Rs 85,342 per 1 kg.
 Why Zomato Share Price is FallingIn news from the e-commerce sector, shares of Zomato extended losses on 14 May, falling up to 6% in morning deals as the company’s costs on account of its employee stock ownership plan are expected to rise soon.Costs incurred under the ESOPs are non-cash expenses and are likely to increase in the ongoing fiscal on account of the grant of ESOPs to the Blinkit leadership team and senior employees.On 13 May, Zomato reported a net profit of Rs 1.8 bn for the January-March (Q4FY24) period, compared to a net loss of Rs 1.9 bn during the same quarter last year. Its revenue rose 73% YoY to Rs 35.6 bn.The online food aggregator has also sought shareholder approval for a fresh employee stock option plan (ESOP) of 182 m shares of the company that are cumulatively worth over Rs 35 bn at current market value. After a new ESOP plan is approved, it is typically granted to employees over a few years.This ESOP pool should be sufficient for the next 5 years and amounts to 2% of the company’s outstanding share capital on a fully diluted basis.Zomato’s ESOP cost almost doubled to Rs 1.6 bn in the March quarter, compared to Rs 840 m in the year-ago period. Zomato management expects the ESOP charge to increase further in FY25.

Ethos Jumps 9%
Moving on to news from the retailing sector, shares of luxury watch player Ethos soared over 9% to Rs 2,324 on 14 May after it reported an upbeat January-March quarter (Q4FY24) performance.So far this year, Ethos has surged over 18%, outpacing the benchmark Nifty 50 that rose 2%. The company’s shares had hit a 52-week high of Rs 3,040 per share on 11 March 2024.Ethos’s consolidated revenue from operations rose 21.7% year-on-year (YoY) to Rs 2.5 bn in Q4FY24, while profit-after-tax (PAT) surged 58% YoY to Rs 210 m.On the other hand, Ethos’s earnings before interest, tax, depreciation, and amortization (EBITDA) jumped 45.1% YoY to Rs 440 m in Q4FY24 and EBITDA margins improved 2.6% points (bps) YoY to 17%.Ethos unveiled 10 new boutiques across 9 cities, including expansion in 4 new cities. Looking ahead, Pranav Saboo, Founder and Managing Director of Ethos.
 RVNL Soars 7%. Here’s WhyMoving on to news from the railway sector, shares of Rail Vikas Nigam jumped over 7% on 14 May after the company bagged an order worth Rs 2.4 bn from the southeastern railway.The PSU firm informed, in an exchange filing, that it has got an order to provide an automatic block signaling system from Jolarpettai Junction to Erode Junction of the Salem Division of the Southern Railway. The order is to be executed within 12 months.Earlier this month, the railway public sector undertaking (PSU) informed that it has received an order from South Eastern Railway to meet the 3,000 MT loading target.The scope of the project involves Design, Supply, Erection, Testing, and Commissioning for the upgradation of the electric traction system for the Rajkharsawan Nayagarh Bolani section of the Chakradharpur division of South Eastern Railway. The said project will be executed within 18 months.Shares of RailTel, RITES, Indian Railway Finance Corporation (IRFC), Ircon International, IRCTC, BEML, and Titagarh Rail also jumped up to 11% intraday.RailTel shares surged over 10% to hit an intraday high of Rs 393.5 apiece on NSE.More By This Author:Sensex Today Trades Marginally Higher; Nifty Above 22,150Sensex Today Ends 112 Points Higher; Pharma Stocks ShineSensex Today Trades Lower; Nifty Below 21,900