The Business Standard's Smart Investor (SI) reports focus on in-depth analysis and timely news concerning strategic investment trends, business deals, and financial manoeuvres within the corporate world.
The Business Standard's Smart Investor (SI) reports focus on in-depth analysis and timely news concerning strategic investment trends, business deals, and financial manoeuvres within the corporate world.
The stock has rallied 5% after reporting 27% yoy growth in net profit at Rs 121 crore for the quarter ended December 2013.
As investors booked profits at higher levels in index heavyweights such as Reliance Ind and ICICI Bank
Aurobindo, Shasun Pharma, Sun Pharma, Biocon, Ipca Lab, Ranbaxy, Wockhardt and Cipla are up 2-6% on BSE.
Gains were led by Sun Pharma and Maruti Suzuki rebounded following sharp correction yesterday on concerns over Gujarat expansion plans
The market breadth in BSE remains firm with 1,170 shares advancing and 499 shares declining.
Net profit surged 115% to Rs 610 crore and overseas revenue grew 18.5% y-o-y
Post Q3 results the stock has outperformed the market by surging 8.5% in past two trading sessions compared to a marginal 0.44% rise in benchmark S&P BSE Sensex.
The stock has rallied 8.4% to Rs 1,695, erasing entire yesterday's 8.1% fall on the Bombay Stock Exchange.
The main gainers on the Sensex at this hour include Maruti Suzuki, Tata Motors, Axis Bank, ICICI Bank, L&T, BHEL, M&M and SBI.
The early indicator, SGX Nifty was down 25 points at 6,160 at 0820 hrs.
ICICI Bank, HDFC Bank and Axis Bank were down 1% each.
Sensex was down 14 points at 20,694 and the Nifty gave off four points to end at 6,132
The board approved implementing the expansion of manufacturing facility in Gujarat through Suzuki subsidiary.
IT and banks among the top losers weigh on the indices
After net profit for the third quarter surged 49.4% to Rs 13.48 crore
The market breadth in BSE remains positive with 1,015 shares advancing and 989 shares declining
Q3 consolidated net profit at Rs 21.81 crore against Rs 5.8 crore in a year ago quarter.
The board will meet on February 5, to consider interim dividend.
Volume growth in Q3 at four per cent was a tad lower than five per cent in the September quarter
Indusind Bank, Bank of India, ICICI Bank, PNB and Canara Bank are down more than 2% each on the NSE.