 "Markets remain rangebound post Infy numbers")
Markets continue to remain range bound with positive bias after good set of first quarter earnings from software major Infosys.
By 11:40, the Sensex was higher by 130 points at 19,806 mark and the Nifty gained 23 points at 5,958 levels.
Expressing concern over the investment and innovation environment in India, a top US trade official has said the recent set of economic reforms initiated by the country were not enough to return to the path of robust growth.
Infosys has rallied nearly 15% to Rs 2,905 in opening deals on the Bombay Stock Exchange (BSE). However, the stock has trimmed early gains on account of profit booking at higher levels.
Infosys has reported a consolidated net profit at Rs 2,374 crore against an average analysts estimates of Rs 2,296 crore for the first quarter ended June 2013 (Q1). The company has retained its 6-10% US Dollar revenue growth guidance for FY2014.
Maruti Suzuki India is trading lower by 2% at Rs 1,476, extending its previous day’s 2.4% fall, on concerns of weakness in passenger vehicle demand.
Dr Reddy’s Laboratories has moved higher by 1% to Rs 2,315 after the company said it has launched Decitabine for injection, a therapeutic equivalent generic version of Dacogen in the US market on July 11, 2013.
The market breadth in BSE remains marginally positive with 915 shares advancing and 878 shares declining.
By 11:40, the Sensex was higher by 130 points at 19,806 mark and the Nifty gained 23 points at 5,958 levels.
Expressing concern over the investment and innovation environment in India, a top US trade official has said the recent set of economic reforms initiated by the country were not enough to return to the path of robust growth.
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Infosys has rallied nearly 15% to Rs 2,905 in opening deals on the Bombay Stock Exchange (BSE). However, the stock has trimmed early gains on account of profit booking at higher levels.
Infosys has reported a consolidated net profit at Rs 2,374 crore against an average analysts estimates of Rs 2,296 crore for the first quarter ended June 2013 (Q1). The company has retained its 6-10% US Dollar revenue growth guidance for FY2014.
Maruti Suzuki India is trading lower by 2% at Rs 1,476, extending its previous day’s 2.4% fall, on concerns of weakness in passenger vehicle demand.
Dr Reddy’s Laboratories has moved higher by 1% to Rs 2,315 after the company said it has launched Decitabine for injection, a therapeutic equivalent generic version of Dacogen in the US market on July 11, 2013.
The market breadth in BSE remains marginally positive with 915 shares advancing and 878 shares declining.