A bout of volatility was witnessed as key benchmark indices traded near the flat line in mid-morning trade. At 11:17 IST, the barometer index, the S&P BSE Sensex was down 13.88 points or 0.05% at 26,832.65. The 50-unit CNX Nifty was down 3.40 points or 0.04% at 8,128.30. The market breadth indicating overall health of the market was strong. On BSE, 1,365 shares rose and 795 shares fell. A total of 108 shares were unchanged. The BSE Mid-Cap index was down 0.06%. The decline in this index was higher than Sensex's decline in percentage terms. The BSE Small-Cap index was up 0.58%, outperforming the Sensex.
In overseas stock markets, Japanese stocks led decline in Asian markets. US stocks closed lower yesterday, 13 October 2015, with the Dow Jones snapping its 7-day winning streak amid slew of earnings reports.
Back home, cement stocks witnessed mixed trend. Shree Cement (down 1.86%) and Ambuja Cements (down 0.17%) edged lower. UltraTech Cement (up 0.74%) and ACC (up 1.29%) edged higher.
Grasim Industries was off 0.08% at Rs 3,646. Grasim has exposure to cement sector through its holding in UltraTech Cement.
IT stocks were mixed. Infosys (up 1.22%), Wipro (up 0.71%), HCL Technologies (up 0.36%) and Oracle Financial Services Software (up 0.32%) edged higher. MindTree (down 0.11%) and Tech Mahindra (down 1.63%) edged lower.
TCS fell 3.79% at Rs 2,499. The company's consolidated net profit rose 6.5% to Rs 6085 crore 5.8% growth in revenue to Rs 27165 crore in Q2 September 2015 over Q1 June 2015. Operating profit rose 8.7% to Rs 7307 crore in Q2 September 2015 over Q1 June 2015. The company announced results after market hours yesterday, 13 October 2015. The growth was broad based in Q2 with all industries growing on a sequential basis led by banking & financial services (BFS), retail, life sciences and travel & hospitality. Core markets like UK, North America, and Europe grew smartly along with emerging markets like Latin America, Indian and MEA. There was balanced growth across service lines led by asset leveraged solutions. The customers with deals of $100 million and above rose by 3 and $10 million and above customers rose by 6 in Q2 September 2015.
TCS has declared a second interim dividend of Rs 5.50 per share for the year ending 31 March 2016 (FY 2016).
Lupin rose 1.15% to Rs 2,046.55 after the company during market hours today, 14 October 2015, said that the company and Boehringer Ingelheim announced a joint strategic alliance for co-marketing linagliptin, a novel Dipeptidylpeptidase-4 (DPP-4) inhibitor in India. According to the agreement, Lupin will market and sell linagliptin under a separate brand name Ondero (monotherapy) and Ondero Met (fixed-dose combination with metformin) which will be promoted by Lupin's 400 strong dedicated diabetes specialty field force. Boehringer Ingelheim will continue to sell its linagliptin under the brand names Trajenta (monotherapy) and TrajentaDuo (fixed-dose combination with metformin) through its existing sales force and network, Lupin and Boehringer said in a combined press release.
Boehringer Ingelheim, one of the fastest growing multinational pharmaceutical company in India has a strong presence in the DPP-4 Inhibitors market in India.
Ondero tablets (monotherapy) are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. Ondero Met tablets (fixed-dose combination therapy) are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus when treatment with both linagliptin and metformin is appropriate.
Indiabulls Real Estate rose 2.01% at Rs 68.65 on media reports that the company is in talks with private equity (PE) firms, sovereign funds and family offices to sell a 40% stake in the project in the Mayfair locality of central London for around Rs 1000 crore. The company launched the process to monetise the asset after a consultant recently completed its valuation, as per reports. Negotiations for the stake sale are on and a deal is expected to be concluded in a few weeks, reports indicated. The monetisation of London asset is aimed at debt reduction and achieving appropriate capital structure for the property, reports further suggested.
On the macro front, inflation data based on the wholesale price index (WPI) for September 2015 will be declared at 12:00 IST today, 14 October 2015. The WPI inflation dipped further into sub-zero level to minus 4.95% in August 2015 compared with minus 4.05% in July 2015.
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