Indices take breather ahead of Friday's April IIP data
The Sensex closed Thursday at 19,939, down 51 points, while the Nifty shut shop at 6,050, down 19 points. The healthcare, metal, realty and consumer durable stocks were the major laggards in trade today. Even mid- and small-cap stocks were not spared.
The healthcare, metal, realty and consumer durable stocks were the major laggards in trade today. Even mid- and small-cap stocks were not spared.
The Sensex closed Thursday at 19,939, down 51 points, while the Nifty shut shop at 6,050, down 19 points.
Punjab National Bank, HCL Technologies, Ambuja Cement, State Bank of India, Reliance Infrastructure, Bank of Baroda, Tata Consultancy Services and Ultra Tech Cement led the gainers pack while Jindal Steel, Asian Paints, Sun Pharmaceuticals, NMDC, Axis Bank, Sesa Goa, Cipla and Ranbaxy lost out in trade.
The advance-decline ratio favoured the bears with 1,322 stocks declining for every 1,079 advances on the Bombay Stock Exchange. Around 167 stocks remained unchanged.
Stocks in News:
The Jubilant Foodworks' stock lost over 7.5% at Rs1,014. The company posted a Q4 FY13 net profit of Rs327.11mn as compared to Rs293.32mn in the same period last year.
Ranbaxy declined 1.3% to close at Rs438 per share after the company’s Q1 CY13 net profit declined 91.52% at Rs70.15 crore as against Rs827.23 crore in the corresponding period last year.
Speaking on Ranbaxy's results, Amar Ambani, Head of Research at IIFL, said the numbers were largely inline with estimates. "Resolution from the US Food and Drug Administration holds key for a re-rating. We believe improving domestic business along with niche/exclusivity launches will keep the business buoyant.”
The Punjab National Bank stock shot up by over 4.5% after Q4 FY13 non-performing loans at the state-owned lender increased 4.27% from 2.93% a year ago. It reported a 20.6% fall in net profit at Rs11.3 billion as against Rs14.2 billion year-on-year. Net interest income surged 14.2% during the quarter.
Asian Paints dripped 3.7% to close at Rs 4,673 after Q4 FY13 net profit saw a 2.06% fall at Rs239.56 crore.
Prism Cement ended 3% lower at Rs 45.50 after its Q4 FY13 net profit declined 60.91% at Rs14.28 crore.
Union Bank of India gained 1.3% at Rs 242 today after the bank's Q4 FY13 net non-performing assets to net advances decreased 1.61%.
Get Top 500 Company Research from acclaimed IIFL Research Team...Click Here!!!
India Infoline Research Team / 10:47, Aug 24, 2015
In spite of massive improvement in CV demand, standalone revenues for Banco Products Ltd registered muted performance with sales at Rs. 113cr in Q1 FY16.