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.
Provisionally, the Sensex lost 231 points to close at 28,188 and the Nifty shed 72 points to end at 8,531
At 02:40 PM, the stock was down 2% at Rs 895 on the NSE; it had weakened by nearly 5% at Rs 871 in intra-day trades.
Gains in IT major Infosys helped offset most of the losses in pharma major Sun Pharma and FMCG shares.
Infosys, HCL Technologies, Wipro, Tech Mahindra and Mindtree were up 2%-10% on the NSE.
The stock rallied 9% to Rs 1,091 on the NSE in early morning trades.
At 12:39 PM, the CNX Pharma index was down 6.1% or 806 points at 12,370 compared to a 0.01% rise in the CNX Nifty.
IT major Infosys has soared 10% post Q1 result while drug major Sun Pharma has slipped 13% on profit warning
ICRA has upgraded Rs 200cr NCD programme to AA/Stable from AA-/Stable
FMCG shares are declining on the exchanges with HUL declining 2.5% ahead of the Q1 results
The stock has surged 10% to Rs 214 after the company reported a 50% Y-o-Y jump in net profit at Rs 30 crore in the June 2015 quarter.
The stock has rallied nearly 4% to Rs 445, also its 52-week high, on the NSE.
The stock has plunged 16% after the drug maker said its profit might be "adversely impacted" in financial year 2015-16.
The IT major's consolidated net profit fell 2.16% sequentially to Rs 3,030 crore and revenue rose 7% to Rs 14,354 crore in the quarter ended June.
Monsoon session of the Parliament and the results of Infy and HDFC Bank, among others, would dictate the sentiment
Financial shares were among the top losers
The stock moved higher to Rs 3,249, bouncing back 4% from intra-day low of Rs 3,117 on the NSE.
Net profit for Apr-Jun 2015 dipped 34% to Rs 17.49 crore compared with Rs 26.49 crore in Apr-Jun 2014
Banking heavyweights such as Axis Bank, SBI and ICICI Bank are witnessing selling pressure in noon trades.
Karnataka Bank, Federal Bank, Oriental Bank, Bank of India, Canara Bank and Andhra Bank were down 3%-8% each.
Net profit for Apr-Jun 2015 dipped 10% to Rs 109 crore compared with Rs 122 crore in Apr-Jun 2014