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The brokerage further said that Titan has been the standout performer among all of its consumer peers, in terms of revenue, earnings, as well as stock price performance over the past five years. For a company of its size, sales of Rs 366 billion (USD4.6b) in FY23E and the 20% revenue and earnings CAGR are extremely impressive.

“The fulcrum of the focus has shifted to the domestic market and I think one concern is possibly valuations and that is something that the market would have to deal with. In general, when the cost of capital goes up, it is the highly valued expensive sectors that tend to suffer most. Pharma is one sector that has suffered on that count, consumer staples could be another one.”

The board of directors of Dabur India declared an interim dividend of 250% for 2022-23. "Continuing with our payout policy, the board has declared an interim dividend of Rs 2.50 per share, aggregating to a total payout of Rs 442.94 crore," Dabur India Chairman, Mohit Burman said.

The total income of the company from operations rose to Rs 1,242.11 crore from Rs 1,034.27 crore in the corresponding period of the previous year. The total expenses also surged to Rs 1,125.25 crore against Rs 972.08 crore.

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The firm’s annualized ROE and ROA for the second quarter of the financial year 2022-23 stood at 20% and 3%, respectively. Core pre-provision operating profit stood at Rs 685 crore for the quarter up 23% year-on-year (YoY). The average borrowing costs of the company for the quarter fell 3 bps quarter-on-quarter (QoQ) and 29 bps YoY to 8.4%.

Reflecting an anchoring bias problem on D-Street, Prasad said in a report that relying on historical multiples may be looking at things wrongly because the past multiples have little relevance in the valuation of a company/stock on first-principles basis.

Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1651951.27 Crore) operating in Diversified sector.

The Nifty Realty index was trading 1.66 per cent up at 432.4.

“Increasingly IT cos’ new order booking, discretionary spending will come under pressure and that will impact growth rates. It is best to just ride out this challenging period and look for better times in 2023 when the entire macroeconomic headwinds are over. In the meantime, select midcap IT companies focussing on differentiated verticals or have IP type of businesses, should be favoured over the largecap IT. ”