Large currency speculators further increased net long position in the Pound futures, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Pound futures, traded by large speculators and hedge funds, totaled a net long position of 93765 contracts in the data reported through October 01, 2024. This was a weekly increase of 6773 net contracts.
Himadri Specialty Chemicals (07-10-2024)
29% Increase in MF Holding in August Month. I’ll be awaiting September disclosures too.
- Many Active funds hold it.
- Shriram Flexi Cap fund did new entry in Aug.
Additionally, Many Quant funds hold position in HSCL and all of them increased the stake in August.
Discl: Remain Invested. Invested @490 Levels.
Suraksha Diagnostic gets Sebi’s go ahead to float IPO (07-10-2024)
Integrated diagnostic chain Suraksha Diagnostic Ltd has received Sebi’s go ahead to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday.
Suraksha Diagnostic gets SEBI’s go ahead to float IPO (07-10-2024)
The company, which had filed preliminary IPO papers in July, obtained the regulator’s observation on September 30
Euro net long speculative positions ease near 2 week low (07-10-2024)
Large currency speculators in the Euro futures market slipped back to a near two week low, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Euro futures, traded by large speculators and hedge funds, totaled a net long position of 55327 contracts in the data reported through October 01, 2024. This was a weekly fall of 16371 net long contracts.
Titan Company Ltd : a three decade old company (07-10-2024)
Both Titan and Kalyan have shared their business updates. I have compared Tanishq Jewellery(Tanishq, Mia and Caratlane) with Kalyan(Kalyan, Candere)
Tanishq & Kalyan: Q2FY25 Business Highlights 
Tanishq Jewellery (Titan Company Limited) and Kalyan Jewellers both reported strong Q2FY25 results. Let’s examine their performance, focusing on revenue growth and expansion strategies.
Revenue Growth Sparkles 
Both companies thrived in Q2FY25, capitalizing on increased consumer spending after India reduced the custom duty on gold imports. Here’s a closer look:
| Metric | Tanishq Jewellery (Titan) | Kalyan Jewellers | |
|---|---|---|---|
| Consolidated Revenue Growth (YoY) | 26% | 37% | |
| India Jewellery Revenue Growth (YoY) | 25% | 39% | |
| SSSG | Mid Teens | 23% |
- Kalyan Jewellers achieved higher overall revenue and same-store-sales growth than Tanishq Jewellery.
- The reduction in gold import duty significantly boosted demand for both companies, highlighting the sensitivity of the jewellery market to gold pricing.
Expanding their Footprint 
Both companies strategically expanded their store networks in Q2FY25, primarily in India:
| Detail | Tanishq Jewellery (Titan) | Kalyan Jewellers |
|---|---|---|
| Total New Stores (Jewellery, net) | 34 | 27 |
| Breakdown | 11 Tanishq, 11 Mia (India), 1 Mia (Abu Dhabi), 11 CaratLane | 15 Kalyan, 12 Candere |
| Strategy | Multi-brand approach targeting diverse demographics and price points. | Focus on the Kalyan brand with a growing franchise-owned-company-operated (“FOCO”) model. |
| Total Stores (as of Sept 2024) | 1,009 (723 Tanishq & Mia, 286 CaratLane) | 303 (231 Kalyan India, 36 Kalyan Middle East, 36 Candere) |
- Titan’s multi-brand strategy allows them to capture a wider customer base.
- Kalyan’s FOCO model could enable faster expansion with potentially lower capital investment.
Digital Dominance 
Both companies experienced considerable growth in their digital first platforms:
- CaratLane (Titan): Recorded c. 28% YoY growth.
- Candere (Kalyan): Achieved approximately 30% YoY growth.
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Conclusion:
This quarter has been good for both the companies. With festive season coming Q3 is generally best quarter for jewellery market.