Bears continued to keep tight control on Dalal Street as the Sensex fell 156.82 points to 27281.12 and the Nifty declined 60.95 points to 8244.30. Pharma, capital goods, FMCG and select banking & financial led the fall today.
Axis Bank, Tata Motors, Wipro and Vedanta gained 1-2.5 percent whereas HDFC, SBI, Infosys, Dr Reddy's Labs, Sun Pharma, ONGC, HUL, Hero Motocorp and BHEL dropped 1-3 percent.
Among financials, ICICI Bank is trading higher by 0.5% ahead of its fourth quarter results due later today. Other private bank stocks like Axis Bank and HDFC Bank are trading higher by 0.4% and lower by 0.8% respectively. Housing finance major, HDFC is down over 2% and public sector lender SBI is down 2.5%.
Vedanta is trading higher by 2.4%. According to media reports, Anil Aggarwal-led Vedanta is eyeing a minority stake in debt-laden Electrosteel Steels. Tata Steel and Hindalco are down by 0.7% each.
Infosys is down over 1% on reporting sub-par quarterly results. A couple of foreign borkerages have cut the target price of Infosys. Among its peers, Wipro has gained around 1% and TCS is up 0.1%.
Pharma stocks are under pressure in today’s session. Dr Reddys Lab has shed nearly 4%, Sun Pharma and Cipla have lost 1.3% and 1.6% each.
Among other stocks, shares of Bharti Infratel has risen by 5% after the firm reported 18% year on year (yoy) growth in its consolidated net profit at Rs 558 crore for the fourth quarter ended March 31, 2015 (Q4), on back of strong operational performance. Revenues grew 6% at Rs 2,947 crore on yoy basis.
Axis Bank, Tata Motors, Wipro and Vedanta gained 1-2.5 percent whereas HDFC, SBI, Infosys, Dr Reddy's Labs, Sun Pharma, ONGC, HUL, Hero Motocorp and BHEL dropped 1-3 percent.
Among financials, ICICI Bank is trading higher by 0.5% ahead of its fourth quarter results due later today. Other private bank stocks like Axis Bank and HDFC Bank are trading higher by 0.4% and lower by 0.8% respectively. Housing finance major, HDFC is down over 2% and public sector lender SBI is down 2.5%.
Vedanta is trading higher by 2.4%. According to media reports, Anil Aggarwal-led Vedanta is eyeing a minority stake in debt-laden Electrosteel Steels. Tata Steel and Hindalco are down by 0.7% each.
Infosys is down over 1% on reporting sub-par quarterly results. A couple of foreign borkerages have cut the target price of Infosys. Among its peers, Wipro has gained around 1% and TCS is up 0.1%.
Pharma stocks are under pressure in today’s session. Dr Reddys Lab has shed nearly 4%, Sun Pharma and Cipla have lost 1.3% and 1.6% each.
Among other stocks, shares of Bharti Infratel has risen by 5% after the firm reported 18% year on year (yoy) growth in its consolidated net profit at Rs 558 crore for the fourth quarter ended March 31, 2015 (Q4), on back of strong operational performance. Revenues grew 6% at Rs 2,947 crore on yoy basis.
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