Equity benchmark and broader indices remained sluggish in noon trade with the Nifty hovering around 8350 level. PNC Infratech fell over a percent at Rs 373.5 against its issue price of Rs 378 on day of listing. The 30-share BSE Sensex dropped 65.70 points to 27578.18 and the 50-share NSE Nifty declined 18.90 points to 8351.35. About 1072 shares have advanced, 1171 shares declined, and 148 shares are unchanged on the BSE. As the Narendra Modi government completed one year in office, market experts and India inc remained bullish. Tata Motors lost 1 percent ahead of it's fourth quarter earnings. The street expects a largely muted performance because of JLR's product transition phase with consolidated revenue and profit seen up around 3 percent. Margin is expected to be flat at 15 percent. With more earnings in focus, the street expects a dollar revenue growth of over 7 percent from Tech Mahindra while margin is expected to be impacted due to wage hikes. The stock declined 1 percent. BHEL too traded with a weak bias. The street expects its fourth quarter numbers to be weak with sales seen lower by 13 percent, margin lower by 250 basis points and profit down by over 50 percent year-on-year.
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