| "Sales growth has disappointed especially in a booming economy,'' Mumbai-based analyst Vandana Luthra at Merrill Lynch said. |
| Bharti Airtel, the country's biggest mobile phone company, rose on a newspaper report that the government may lower the fees it levies on phone companies to help the industry expand. |
| The Sensex fell 64.89, or 0.5 per cent, to 14,188.49. The measure earlier rose as much as 0.4 per cent. |
| The Nifty slid 10.75, or 0.3 per cent, to 4,096.20. |
| Hindustan Lever fell Rs 4.15, or 2.1 per cent, to Rs 195.5, extending yesterday's 2.7 per cent decline. Income before one-off gains and charges rose 10 per cent to Rs 483 crore, the company said yesterday. That's lower than the Rs 498 crore estimated by analysts. |
| Sales of Pond's and Fair & Lovely skin creams, which account for about 26 per cent of the company's revenue, slowed in the quarter as warmer temperatures in winter hurt sales, the company said yesterday. |
| In a note to clients today, Motilal Oswal Securities, the No 2 ranked local brokerage in the Asiamoney polls last year, cut its earnings estimates and price target on the stock after the earnings. It reduced its earnings per share estimate for 2007 by 5.7 per cent, to Rs 8.2 a share and lowered its price target by 14 per cent to Rs 240 a share. |
| Bharti climbed Rs 14.9, or 1.9 per cent, to Rs 806.3. The rate of subscriber additions calls for a lowering of fees, said a newspaper, citing an unidentified finance ministry official. Among fees likely to be cut are licence charges and cost of frequency bands, which are locally called spectrum. |
| Overseas investors bought a net Rs 220 crore worth of stocks on February 19, according to the latest information on the Securities and Exchange Board of India's website. |
| Lupin rose Rs 48.85, or 8.3 per cent, to Rs 634.65. The drugmaker said it signed an agreement with Les Laboratoires Servier of France to sell some patent applications for blood pressure drug perindopril. |
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