 "Markets open higher, TCS hits record high")
Markets have started the trading session on a higher note amid positive global cues, along with positive Q1 results from IT major TCS.
By 9:35, the Sensex was higher by 51 points at 20,180 whereas the Nifty gained by 8 points at 6,046 levels.
Tata Consultancy Services (TCS) is trading higher by nearly 4% at Rs 1,724, also its record high on BSE, after reporting a better than expected consolidated net profit at Rs 3,831 crore for the quarter ended June 30, 2013 (Q1 FY2014).
Analyst on an average had expected profit of Rs 3,739 crore from the India’s largest software services company. The company had profit of Rs 3,616 crore in March quarter and Rs 3,317 crore in a year ago quarter.
Markets will also react to the Q1 numbers coming from Bajaj Auto, HDFC and Reliance Industries today.
On the global front, Japanese shares hit two-month highs on Friday, outperforming the rest of Asia as the yen stayed under pressure ahead of a weekend election that markets hope will clear the way for Prime Minister Shinzo Abe to pursue aggressive reflationary policies.
The rupee and government bonds weakened in early trade on Friday ahead of a bond auction that will be a key signal to whether the central bank's steps aimed at keeping rupee liquidity tight are working.
The main gainers on the Sensex at this hour include TCS, M&M, Infosys, Wipro, Tata Motors and HUL.
On the losing side, BHEL, Bajaj Auto, Tata Power, Sun Pharma, NTPC, Cipla, ICICI Bnaka nd SBI.
Nine drug makers, including Ranbaxy, Dr Reddy’s Labs, Glenmark, Cipla and Cadila Health, are likely to face a hefty penalty from the National Pharmaceutical Pricing Authority (NPPA) over allegedly selling anti-asthma drug Doxofylline without prior price approval.
The move comes in the wake of a recent Supreme Court order against the industry that brought the widely prescribed medicine under price control.
Among other shares, BEML has surged 5% to Rs 181 on NSE after the state-owned company said it has bagged a new order worth of Rs 747 crore from Delhi Metro Rail Corporation Limited (DMRCL).
The market breadth in BSE remains positive with 488 shares advancing and 393 shares declining.
By 9:35, the Sensex was higher by 51 points at 20,180 whereas the Nifty gained by 8 points at 6,046 levels.
Tata Consultancy Services (TCS) is trading higher by nearly 4% at Rs 1,724, also its record high on BSE, after reporting a better than expected consolidated net profit at Rs 3,831 crore for the quarter ended June 30, 2013 (Q1 FY2014).
Analyst on an average had expected profit of Rs 3,739 crore from the India’s largest software services company. The company had profit of Rs 3,616 crore in March quarter and Rs 3,317 crore in a year ago quarter.
Markets will also react to the Q1 numbers coming from Bajaj Auto, HDFC and Reliance Industries today.
On the global front, Japanese shares hit two-month highs on Friday, outperforming the rest of Asia as the yen stayed under pressure ahead of a weekend election that markets hope will clear the way for Prime Minister Shinzo Abe to pursue aggressive reflationary policies.
The rupee and government bonds weakened in early trade on Friday ahead of a bond auction that will be a key signal to whether the central bank's steps aimed at keeping rupee liquidity tight are working.
The rupee was at 59.78/80 against Thursday's close of 59.67/68.
On the sectoral front, BSE IT and TECk indices have surged by 2%. However, BSE Power and Bankex indices have declined by nearly 1%.The main gainers on the Sensex at this hour include TCS, M&M, Infosys, Wipro, Tata Motors and HUL.
On the losing side, BHEL, Bajaj Auto, Tata Power, Sun Pharma, NTPC, Cipla, ICICI Bnaka nd SBI.
Nine drug makers, including Ranbaxy, Dr Reddy’s Labs, Glenmark, Cipla and Cadila Health, are likely to face a hefty penalty from the National Pharmaceutical Pricing Authority (NPPA) over allegedly selling anti-asthma drug Doxofylline without prior price approval.
The move comes in the wake of a recent Supreme Court order against the industry that brought the widely prescribed medicine under price control.
Among other shares, BEML has surged 5% to Rs 181 on NSE after the state-owned company said it has bagged a new order worth of Rs 747 crore from Delhi Metro Rail Corporation Limited (DMRCL).
The market breadth in BSE remains positive with 488 shares advancing and 393 shares declining.