Sensex gains slightly, Cipla surges, Coal India falls

SENSEX-NIFTY-CIPLA-COAL-INDIA:Sensex gains slightly Cipla surges, Coal India falls

The BSE Sensex and Nifty gained slightly to extend a winning streak to a fourth day, as Cipla surged after posting a jump in earnings, but Coal India slumped after its fuel supply agreements with utilities sparked concerns about its margins.

Drug maker Cipla rallied 4.5 percent, having earlier hit its highest since January 2011, after posting a much better-than-expected net profit in the April-June quarter.

Coal India fell 2.6 percent after its agreement to supply at least 80 percent of the coal needed to fuel new power projects was seen exposing the miner to risks to its margins.

The 30-share BSE Sensex provisionally rose 0.02 percent to 17,239.06 points.

 

The 50-share Nifty provisionally gained 0.22 percent to end at 5,240.50 points.