 "Nifty struggles below 8,150; ITC slips nearly 2% ahead of its Q2 numbers")
Benchmark indices have started to gain some ground amid mixed Asian cues led by banking, capital goods and pharma shares. However, selling pressure in bluechips such as ITC and Infosys is acting as a roadblock for the gains.
At 11:40 am, the Sensex was trading at 26,888, up by 50 points while the Nifty gained 18 points at 8,130.
The broader markets are in line with larger peers- BSE Midcap and Smallcap indices are up 0.1-0.6%. The market breadth is positive with 1,210 advances against 965 declines on the BSE.
RESULT CALENDER
Apollo Tyres, Bharat Electronics, ICICI Bank, IPCA Labs, ITC, L&T among others are set to announce their quarterly results today.
STOCKS IN FOCUS
Sectorally, BSE Healthcare index is up by 1.1% followed by BSE Bankex, up nearly 1%. On the downside, BSE FMCG and IT shares are down between 0.3-0.9% each
NTPC, the country’s largest power generator, posted a 40% increase in profit at Rs 2,898 crore for the quarter ending September, compared to Rs 2,072 crore during same period last financial year. The stock has surged over 5.5%
Dr Reddy's Laboratories has reported a 26% increase in consolidated net profit at Rs 722 crore for the quarter ended September, on the back of higher sales growth and sustained product margins from the company's US generics business. The stock has gained nearly 2%
Cipla has sold its entire 25% stake in Biomab Holding Limited, a biosimilars development company in China to its majority owners for $ 25 million (about Rs 162 crore), the drug maker announced yesterday. The stock has advanced 1.2%
Bharti Airtel has decided to sweeten the deal for its prepaid data customers that constitute 94 per cent of its subscriber base. After offering free voice minutes to high-value 4G consumers, Airtel is now going after the not-so-creamy layer. The stock has gained 1.5%
ICICI Bank is set to announce its quarterly result later in the day today. The stock has gained 1.3%.
L&T has gained 1.3% in anticipation of its quarterly results today.
ITC is under pressure ahead of its quarterly results, due later today. The stock has dipped 2%
Other notable losers are Vedanta, Tata Motors, Infosys, down between 1-2.5%
Among other shares, SpiceJet’s Chief Operating Officer (COO) Sanjiv Kapoor has resigned from his position. The airline said Kapoor would leave the company on Saturday. The stock has gained 4%
Glenmark Pharma posted a 19.8 per cent rise in net profit for the September quarter, on the back of revenue growth in key markets.Net profit stood at Rs 197 crore against Rs 165 crore year-on-year. Revenue grew 13 per cent to Rs 1,909 crore, with India and US markets driving the growth of the last fiscal, 2014-15. The stock has gained 4%
Hit by the ban on Maggi instant noodles, Nestlé India’s net profit plunged 60 per cent to Rs 124 crore in the September quarter from Rs 311 crore on a year-on-year basis. Underperforming the market estimates, the food major’s net sales declined by 32 per cent during the quarter to Rs 1,736 crore, compared to Rs 2,558 crore in the year ago period. The stock has dipped 1%
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, said on Thursday that it would expand supply of petroleum products to Nepal. This came a day after Nepal’s government-owned petroleum company signed an agreement with China to tide over the acute fuel shortage caused by the blockage of border points with India, due to protests by local communities. The stock has advanced 2%
At 11:40 am, the Sensex was trading at 26,888, up by 50 points while the Nifty gained 18 points at 8,130.
The broader markets are in line with larger peers- BSE Midcap and Smallcap indices are up 0.1-0.6%. The market breadth is positive with 1,210 advances against 965 declines on the BSE.
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Meanwhile, on the global front, Bank of Japan has kept the key rates unchanged following which a mixed trend is seen across Asian equities.
RESULT CALENDER
Apollo Tyres, Bharat Electronics, ICICI Bank, IPCA Labs, ITC, L&T among others are set to announce their quarterly results today.
STOCKS IN FOCUS
Sectorally, BSE Healthcare index is up by 1.1% followed by BSE Bankex, up nearly 1%. On the downside, BSE FMCG and IT shares are down between 0.3-0.9% each
NTPC, the country’s largest power generator, posted a 40% increase in profit at Rs 2,898 crore for the quarter ending September, compared to Rs 2,072 crore during same period last financial year. The stock has surged over 5.5%
Dr Reddy's Laboratories has reported a 26% increase in consolidated net profit at Rs 722 crore for the quarter ended September, on the back of higher sales growth and sustained product margins from the company's US generics business. The stock has gained nearly 2%
Cipla has sold its entire 25% stake in Biomab Holding Limited, a biosimilars development company in China to its majority owners for $ 25 million (about Rs 162 crore), the drug maker announced yesterday. The stock has advanced 1.2%
Bharti Airtel has decided to sweeten the deal for its prepaid data customers that constitute 94 per cent of its subscriber base. After offering free voice minutes to high-value 4G consumers, Airtel is now going after the not-so-creamy layer. The stock has gained 1.5%
ICICI Bank is set to announce its quarterly result later in the day today. The stock has gained 1.3%.
L&T has gained 1.3% in anticipation of its quarterly results today.
ITC is under pressure ahead of its quarterly results, due later today. The stock has dipped 2%
Other notable losers are Vedanta, Tata Motors, Infosys, down between 1-2.5%
Among other shares, SpiceJet’s Chief Operating Officer (COO) Sanjiv Kapoor has resigned from his position. The airline said Kapoor would leave the company on Saturday. The stock has gained 4%
Glenmark Pharma posted a 19.8 per cent rise in net profit for the September quarter, on the back of revenue growth in key markets.Net profit stood at Rs 197 crore against Rs 165 crore year-on-year. Revenue grew 13 per cent to Rs 1,909 crore, with India and US markets driving the growth of the last fiscal, 2014-15. The stock has gained 4%
Hit by the ban on Maggi instant noodles, Nestlé India’s net profit plunged 60 per cent to Rs 124 crore in the September quarter from Rs 311 crore on a year-on-year basis. Underperforming the market estimates, the food major’s net sales declined by 32 per cent during the quarter to Rs 1,736 crore, compared to Rs 2,558 crore in the year ago period. The stock has dipped 1%
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, said on Thursday that it would expand supply of petroleum products to Nepal. This came a day after Nepal’s government-owned petroleum company signed an agreement with China to tide over the acute fuel shortage caused by the blockage of border points with India, due to protests by local communities. The stock has advanced 2%