On the back of a positive outlook and higher expectations of improved earnings, the shares of consumer discretionary stocks such as Titan, Jubilant FoodWorks, Avenue SuperMarts (DMart), Indian Hotels, Barbeque Nation among others are surging in an otherwise weak market on Tuesday. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The market experts believe that consumer discretionary-related companies may post a stronger recovery in the September-end quarter of the current financial year, amid unlocking theme and pent-up demand post the second wave of COVID. 

See Zee Business Live TV Streaming Below:

On an individual basis, ace investors Rakesh Jhunjhunwala's favourite stock - Titan Company and Radhakishan Damani-owned Avenue Supermarts - share prices were on the roll and had also hit a fresh 52-week high intraday on Tuesday.   

Besides, Jubilant FoodWorks, Indian Hotels Company, Oberoi Realty, Kajaria Ceramics, Barbeque-Nation Hospitality, and Vardhman Textiles are some of the stocks that touched a fresh all-time high on the BSE intraday trade today. 

Titan Company's share price surged almost 5 per cent to hit a new life high of Rs 2,477.75 per share on the BSE intraday today. The stock has jumped around 15 per cent in the last three trading sessions after the company reported a strong 78 per cent YoY revenue growth in its quarterly update.  

Similarly, another retail company Avenue Supermarts (DMart) hit a new high of Rs 4,892.2 per share intraday today. The company breached Rs 3 trillion market captialisation, BSE data shows.  

Besides, shares of Jubilant FoodWorks also soared near 8 per cent, hitting a record high of Rs 4,379 on the BSE. The stock surpassed its previous high of Rs 4,271 touched on September 17, 2021.  

Moreover, the S&P BSE Consumer Discretionary index also hit a new high of 6,019 level today. At around 02:32 pm, the index was up near 1 per cent versus a 0.09 per cent rise in the BSE Sensex. 

On the discretionary side, most companies are likely to report growth on year on year (YoY) basis given a low base and faster recovery post easing of lockdown restrictions. YES Securities mentioned in its Q2FY22 earnings preview report that it expects a 75-80 per cent recovery compared to pre-Covid levels.