Sensex, Nifty volatile ahead of MPC rate decision; Midcap shines

Moneycontrol Bureau10:40 am Infosys falls: In a letter to Infosys board in January, the founders had raised fresh concerns over governance, had suggested bringing in value-based people into the firm.More importantly, they had questioned the compensation given to Chief Executive Vishal Sikka, sources told CNBC-TV18. They also raised question marks over the severance packages given to former Chief Financial Officer Rajiv Bansal and General Counsel David Kennedy.10:20 am Buzzing: Shares of Titan Company gained 9.5 percent intraday on the back of strong numbers declared by the company for the quarter ended December 2016.The company has reported 13 percent jump in its Q3 (Oct-Dec) net profit at Rs 255.7 crore against Rs 226.2 crore, posted in in the same quarter last fiscal.Total income of the company was up 14.4 percent at Rs 3,926 crore and EBITDA rose 20.9 percent at Rs 373.5 crore. Margin was up at 9.51 percent versus 9 percent.

CLSA has upgraded Titan Company to buy from underperform and also increased target price to Rs 500 from Rs 372 after raising EPS forecasts by 9-24 percent.

Results displayed that concerns post demonetisation were unfounded, the brokerage house says.Also read - Buy, sell, hold: 7 stocks to watch out post Q3 results10:00 am Market Check

Equity benchmarks remained rangebound as investors awaited outcome of two-day monetary policy committee meeting due in afternoon.