Key benchmark indices continued to trade with small gains in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex was up 40.05 points or 0.14% at 27,955.95. The gains for the Nifty 50 index were higher than the Sensex's gains in percentage terms. The Nifty was currently up 23.75 points or 0.28% at 8,640. The broad market depicted strength. There were almost two gainers against every loser on BSE. 1,556 shares rose and 788 shares fell. A total of 242 shares were unchanged. The BSE Mid-Cap index was currently up 0.78%. The BSE Small-Cap index was currently up 0.91%. Both these indices outperformed the Sensex.
In overseas stock markets, most Asian stocks dropped tracking overnight losses in US stocks. US stocks settled with modest losses yesterday, 27 October 2016 as a selloff in government bonds hit yield-sensitive sectors such as real estate and utilities.
Realty stocks rose. DLF (up 0.91%), Sobha (up 0.36%), Indiabulls Real Estate (up 0.17%), Unitech (up 1.17%), NBCC (up 0.29%), Godrej Properties (up 0.54%), Housing Development & Infrastructure (HDIL) (up 2.13%), and Oberoi Realty (up 1.87%) edged higher.
Shares of power generation and power distribution companies gained. Torrent Power (up 0.12%), NHPC (up 3.31%), Tata Power Company (up 1.76%), Adani Power (up 0.19%), Power Grid Corporation of India (up 0.28%), Reliance Infrastructure (up 0.37%) and Reliance Power (up 0.53%) gained.
NTPC gained 0.07% ahead of its Q2 today, 28 October 2016.
Shares of state-run coal miner Coal India gained 2.42%.
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Bajaj Finserv gained 3.62% after consolidated net profit rose 30.52% to Rs 575.75 crore on 34.9% rise in total income to Rs 2999.84 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 27 October 2016.
Jubilant Life Sciences rose 5.51% after consolidated net profit rose 14.52% to Rs 144.77 crore on 5.16% decline in net sales to Rs 1359.70 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 27 October 2016. The consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 5% to Rs 345 crore in Q2 September 2016 over Q2 September 2015. EBITDA margins were reported at 24.3% in Q2 September 2016 compared with 22% in Q2 September 2015.
Commenting on the company's performance, Shyam S Bhartia, Chairman and Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Life Sciences said that the company expects to deliver improved performance in the coming quarters, backed by new product launches in our Generics and Specialty businesses.
VRL Logistics lost 6.07% after net profit declined 53.74% to Rs 13.87 crore on 5.58% growth in net sales to Rs 446.91 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 27 October 2016.
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