Sensex gains; Tata Steel up, pharma stocks down

Reuters Market Eye - The BSE Sensex gains 0.17 percent and the broader Nifty is up 0.31 percent, in a volatile session after four days of declines.

Tata Steel Ltd shares gain 4 percent after its January-March quarterly operating profit beat analysts' estimates.

Larsen & Toubro Ltd climbs 3 percent as sell-off in the previous two sessions were seen as overdone. L&T shares slipped 12 percent in the last two sessions on lingering disappointment over its January-March profit and outlook.

Sun Pharmaceutical Industries Ltd falls 4 percent after its subsidiary Taro Pharmaceutical Industries Ltd's March-quarter results came below estimates.

Shares in Wockhardt Ltd slump 13.5 percent continuing to reel after the U.S. Food and Drug Administration imposed an "import alert" on a plant operated by the generic drugmaker.

 

(Reporting by Abhishek Vishnoi)