Stocks hovered with modest gains in afternoon trade. At 13:15 IST, the barometer index, the S&P BSE Sensex, was up 91.71 points or 0.26% at 34,904.70. The Nifty 50 index was up 34.20 points or 0.33% at 10,516.40.
Among secondary barometers, the BSE Mid-Cap index was down 0.53%. The BSE Small-Cap index was down 0.3%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1084 shares rose and 1305 shares fell. A total of 128 shares were unchanged.
Yes Bank (up 1.3%), Axis Bank (up 1.24%), NTPC (up 1.11%), Coal India (up 1.08%) and Reliance Industries (up 1.02%) edged higher from the Sensex pack.
Sun Pharmaceutical Industries (down 4.33%), Tata Motors (down 2.93%) and Power Grid Corporation of India (down 1.42%) edged lower from the Sensex pack.
Aurobindo Pharma lost 3.55% after consolidated net profit dropped 21.73% to Rs 611.43 crore on 7.43% rise in total income to Rs 4777.90 crore in Q2 September 2018 over Q2 September 2017. The announcement was made after market hours yesterday, 12 November 2018.
Aurobindo Pharma's consolidated EBIDTA before forex and other income fell to Rs 1026 crore in Q2 September 2018 from Rs 1117.3 crore in Q2 September 2017. EBITDA margin fell to 21.6% from 25.2%.
Aurobindo Pharma's wholly owned subsidiary, Aurobindo Pharma USA Inc., USA, has entered into an agreement to acquire a product under development and related assets from 'Advent Pharmaceuticals Pty Ltd., Australia, through AuroScience Pty, Melbourne, a 100% subsidiary of Aurobindo Pharma USA Inc., USA.
On the economic front, India's industrial production grew 4.5% in September compared with the upward revised 4.7% in August, data released by the statistics office showed. August growth had initially been estimated at 4.3%.
Inflation as measured by the Consumer Price Index stood at 3.31% in October compared to 3.70% in September, showed government data released on Monday.
Overseas, Asian shares were mixed on the back of US stocks closing sharply lower Monday. In US, the Dow Jones Industrial Average tumbled 600 points as crude oil prices extended their retreat while a firmer US dollar also sparked worries about the competitiveness of US corporations in an increasingly challenging economic environment.
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