Nifty Pharma index ends 4.12% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) DR REDDY'S LABS 2091.10 2319.85 -228.75 -9.86 LUPIN 815.75 865.60 -49.85 -5.76 SUN PHARMA.INDS. 533.00 559.75 -26.75 -4.78 CADILA HEALTH. 349.75 366.10 -16.35 -4.47 AUROBINDO PHARMA 575.25 602.15 -26.90 -4.47 See More Nifty sectoral losers of the day BSE Sensex: Infosys ends over 2% higher, Tata Steel declines 7% Market at close The S&P BSE Sensex ended at 36,324, down 218 points while the broader Nifty50 index settled at 10,937, down 82 points. Motilal Oswal Securities on Infosys With the quarter largely in-line, our EPS estimates have changed little. Although it looks like INFO will achieve the lower end of its guidance in FY19, we continue to reckon the margin band is conservative, with the share of Digital inching up, recent rupee depreciation, and investments already defined internally. Our price target of Rs 1,550 discounts forward earnings by 17x, based on our thesis of a narrowing gap with TCS. We maintain Buy. IFCI plans to offload 1.21 million shares in NSE, invites merchant bankers Government-controlled development finance company IFCI Ltd has invited merchant bankers to help it offload stake in the National Stock Exchange (NSE). The company is looking to sell 1.21 million of NSE shares (0.24 per cent stake). The deal is likely to be valued at Rs 1.05 billion to Rs 1.11 billion, based on the price-band of Rs 870-920 mentioned in the tender. READ MORE
The S&P BSE Sensex ended at 36,324, down 218 points while the broader Nifty50 index settled at 10,937, down 82 points.
Energy shares took a beating after crude prices dropped as concerns around supply disruptions eased, while traders eyed potential supply hikes by Russia and other oil producers. Reliance Industries slipped nearly 2% per cent, while Hindustan Petroleum Corp declined pver 2 per cent.
Among individual stocks, information technology (IT) major Infosys hit a new high of Rs 1,384 in intra-day, surging 6 per cent on the BSE, in an otherwise subdued market after the company reported an in-line performance for the first quarter ended June 2018 (Q1FY19) and its board approved the issuance of one free share for every share held (that is a 1:1 bonus issue). The company announced its Q1FY19 results on Friday after the market hours. The stock ended nearly 2% higher
Inflation based on wholesale prices shot up to 5.77 per cent in June on increasing prices of vegetables and fuel items. The Wholesale Price Index (WPI) based inflation stood at 4.43 per cent in May and 0.90 per cent in June last year.
According to the government data released today, inflation in food articles stood at 1.80 per cent in June 2018, as against 1.60 per cent in the preceding month. Inflation in vegetables jumped to 8.12 per cent in June, from 2.51 per cent in the previous month.