Asian stocks inched higher on Monday as investors grew more confident about a September US rate cut, while the euro grappled with political uncertainty as French elections pointed to a hung parliament.Japan’s Nikkei 225 gained 0.4%, while the Topix is trading flat. South Korea’s Kospi is trading marginally higher.Asian stocks inched higher on Monday as investors grew more confident about a September U.S. rate cut, while the euro grappled with political uncertainty as French elections pointed to a hung parliament.Here’s a table showing how US stocks performed on Friday:

Source: EquitymasterAt present, the BSE Sensex is trading 37 points lower and NSE Nifty is trading 6 points lower.Tata Motors, Wipro, and ONGC are among the top gainers today.Titan, Adani ports, and Asian Paints the other hand are among the top losers today.Broader markets are trading on a positive note. The BSE Midcap index is trading 0.2% higher and the BSE Smallcap index is trading 0.4% higher.Barring the consumer durables sector all other sectoral indices are trading on a positive note today, with stocks in the auto sector, oil & gas sector, and IT sector witnessing the most buying.The rupee is trading at Rs 83.46 against the US dollar.In commodity markets, gold prices are trading 0.2% lower at Rs 72,905 per 10 grams today.
 Titan Q1 UpdateThe Tata Group company on Friday announced that it has a revenue growth of 9% year on year (YoY) for the quarter ended 30 June 2024.Titan added 61 stores during the quarter, expanding its combined retail network presence to 3,096 stores.The company’s jewelry domestic operations grew 8% YoY. The week of Akshaya Tritiya witnessed double-digit growths (in Tanishq secondary sales) compared to last year.However, high gold prices (20% growth YoY) and their continued firmness had an impact on consumer demand. Coupled with lower wedding days, overall sentiments were relatively muted in comparison to Q1 FY24.Domestic growth came largely through an increase in average selling prices whereas buyer growth was in the low single digits. Gold (plain) grew in high single digits while studded growth was moderately lower in comparison, said the firm.During the quarter, Tanishq added a new store in Muscat (Oman), Of the 33 new store additions (net) in India, 11 stores were in Tanishq, 19 in Mia, and 3 in Zaya respectively.Watches & Wearables domestic business grew 14% YoY.Revenue growth in Analog came in at a healthy 17% YoY whereas wearables witnessed a decline of 6% YoY. The division added 17 new stores (net) in the quarter.Titans EyeCare’s domestic business increased 3% YoY in Q1 FY24. The division’s foray into affordable fashion is aiding volume growth for the category. Titan Eye+ added 3 new stores (net) in India in Q1 FY25.

Nykaa Projects 22-23% Revenue Growth
Titan Company, a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO), commenced its operations in 1987 under the name Titan Watches.In 1994, Titan diversified into Jewellery (Tanishq) and subsequently into eye care.Starting this quarter, Nykaa will introduce vertical-wise segmental reporting. The Beauty segment will encompass the online beauty platform Nykaa, its owned beauty brands, physical stores, the eB2B distribution business ‘Superstore by Nykaa,’ and the Nykaa Man beauty and personal care (BPC) business.The Fashion segment will include the Nykaa Fashion platform, its owned fashion brands, the content platform LBB, and the Nykaa Man lifestyle business.The Beauty vertical’s revenue growth is expected to align with the overall company’s growth at around 22-23% YoY. GMV growth for this segment is anticipated to be in the high twenties YoY, reflecting the long-term growth trajectory of the BPC industry.However, this performance comes despite slower growth in Nykaa’s physical retail business, which has been affected by elections and heatwaves in North India.Nykaa’s Fashion vertical is projected to achieve a healthy revenue growth of about 20% YoY. GMV growth for this segment is expected to be more modest, in the mid-teens year-over-year.
 NLC Bags Coal MineState-owned NLC India Ltd (NLCIL) has emerged as the successful bidder for the Machhakata (revised) coal mine in the Angul District of Odisha after the commercial coal block e-auction held on 2 February by the Ministry of Coal.This is the second commercial coal mine block for NLCIL and the company is committed towards its capacity addition in line with the corporate plan.Tamil Nadu-based NLC, under the Ministry of Coal, operates three opencast lignite mines with a total installed capacity of 30 million tonnes per annum (MTPA) at Neyveli.Last year, emerged as the successful bidder for the North Dhadu (Western Part) coal mine in Jharkhand. The mine has coal reserves of 434.65 million tonnes (MT) with peak rated capacity of 3 MT per annum,Besides, it has an opencast lignite mine at Barsingsar in Rajasthan with an installed capacity of 2.1 MTPA and an opencast coal mine at Talabira in Odisha with an installed capacity of 20 MTPA.More By This Author:Sensex Today Ends 53 Points Lower; Nifty Above 24,300Sensex Today Trades Lower; Nifty below 24,200Sensex Today Ends 63 Points Higher; Nifty Above 24,300