players like Titan and TBZ are likely to get premium for being relatively clean in their books and benefit from lack of competition, said Deepak Shenoy of Capitalmind.in.
Amidst the GST-induced disruptions in Q1FY18, though India's leading retailers held on to their nerve, the jewellery majors weren't quite up to the mark.
Tribhovandas Bhimji Zaveri (TBZ) today reported a 89 per cent surge in profit after tax (PAT) at Rs 6.14 crore in the third quarter ended December 31 as compared to the same period of last year.
"The company will go live very soon on Amazon to sell its exquisite range of diamond jewellery consisting of rings, earrings, pendants, bracelets and gold coins," TBZ said in a BSE filing.
Going forward, the company will be adopting a mix of company-owned stores and franchise stores to expand its domestic operations, TBZ says.
Hemen Kapadia of KR Choksey Securities advises holding Tribhovandas Bhimji Zaveri.
"TBZ has tied up with Snapdeal to offer consumers diamond jewellery (rings, earrings, pendants, bracelets) and gold coins on online marketplace," the jewellery retailer said in its filing.
Presenting the Budget for 2015, Arun Jaitley has promised to abolish wealth tax and 2 percent additional surcharge. He also promised to rationalise and remove exemptions for corporates. He has also said that basic rate of corporate tax to be 25 percent for next four years
Presenting the Budget for 2015, Arun Jaitley has promised to abolish wealth tax and 2 percent additional surcharge. He also promised to rationalise and remove exemptions for corporates. He has also said that basic rate of corporate tax to be 25 percent for next four years.
The Sensex is up 299.63 points or 1 percent at 29519.75 and the Nifty is up 88.55 points or 1 percent at 8933.15. About 1241 shares have advanced, 1177 shares declined, and 201 shares are unchanged.
Presenting the Budget for 2015, Arun Jaitley has promised to rationalise and remove exemptions for corporates. He has also said that basic rate of corporate tax to be 25 percent for next four years.
The market has turned flat while the Budget 2015 speech is still on. The Sensex is up 93.46 points or 0.3 percent at 29313.58, and the Nifty up 20.75 points or 0.2 percent at 8865.35. About 1173 shares have advanced, 1195 shares declined, and 179 shares are unchanged.
Coal India, Tata Motors, NTPC, Hero, Hindalco are among losers in the Sensex.
Presenting the Budget for 2015, Arun Jaitley has allocated Rs 25,000 crore for rural infrastructure. He has proposed Rs 1.25 lakh crore public investment for FY16. Investment in infra will go up by 'Rs 70,000 crore and has proposed tax-free infra bonds for road, railways & infra projects.
Tata Steel, BHEL, HDFC, ICICI Bank and ONGC are top gainers in the Sensex. Among the losers are Coal India, Tata Power, Tata Motors and Hero.
The Sensex is up 278.55 points or 0.9 percent at 29498.67, and the Nifty up 78.05 points or 0.9 percent at 8922.65. About 1415 shares have advanced, 822 shares declined, and 166 shares are unchanged
Capital markets may see a reduction in securities transaction tax. In a boost to financial savings, the FM may increase the limits for deduction under section 80C of the income tax act.
Tata Steel, BHEL, HDFC, L&T and ICICI Bank are top gainers in the Sensex.
The government is likely to meet the fiscal deficit target of 4.1 percent in FY15 and aim for 3.6 percent in FY16. Gross market borrowings are likely to inch up to Rs 6.23 lakh crore in FY16. On the taxation front, it is expected to see a roadmap towards implementation of GST.
Cipla, Hero, Infosys, TCS and Bharti Airtel are top losers in the Sensex . Among the losers are Tata Steel, BHEL, GAIL, L&T and ICICI Bank.
Oil marketing companies (OMCs) are under pressure. CLSA sees the Budget to be negative for refiners as every 1 percent increase in duty will pull down gross refining margins by USD 0.3 per barrel. Both HPCL and BPCL are down 1-2 percent.
TCS, Hero, Cipla, Maruti and Infosys are down while Tata Steel, HDFC, L&T, ICICI Bank and BHEL are among the gainers in the Sensex.
The Sensex is up 243.95 points or 0.8 percent at 29464.07 and the Nifty is up 64.85 points or 0.7 percent at 8909.45. About 1281 shares have advanced, 525 shares declined, and 154 shares are unchanged.
The RBI in a notification also said banks are permitted to import gold on consignment basis. Domestic sales will be, however, permitted against upfront payment only.
Jahangir Aziz of JPMorgan told CNBC- TV18 that measures introduced by the government for gold imports and banking sector financing it are seen providing largest support to the rupee till elections