Tata Steel traded 0.8 percent lower ahead of its third quarter numbers. A CNBC-TV18 poll expects the steel major's total turnover to fall by 4 percent Y-o-Y to Rs 35,400 crore. Analysts expect the profits to plunge by 58 percent.
12:26
Moneycontrol Bureau The market continued to consolidate for the third consecutive session today. The broader markets underperformed benchmarks yet again as the BSE Midcap and Smallcap indices declined 0.8 percent and 1.2 percent, respectively.The 30-share BSE Sensex fell 50.96 points to 28800.01 and the 50-share NSE Nifty slipped 21.70 points to 8690 weighed by
About 743 shares have advanced, 1773 shares declined, and 202 shares are unchanged.
Asian markets traded mixed as markets are cautious ahead of the US jobs report and as worries from Greece weighed. Crude bounced back with the Nymex settling above USD 51 a barrel while Brent crude traded above 57 a barrel.
Cipla gained 2 percent as Cyrus Poonawalla told CNBC-TV18 that there are possible exploratory talks of a merger between Cipla and Serum Institute. Any further development, however, will be based on the success of their recent collaboration.
Tata Motors topped the selling list on Sensex, down 5 percent on disappointing numbers in Q3. JLR margins came in below estimates while the standalone business too was hit by one-off provisions. Barclays, however, reiterated its overweight rating with a lower target, saying the third quarter missed does not deter their FY16 outlook.
In key earnings, Tata Steel traded 0.8 percent lower ahead of its third quarter numbers. A CNBC-TV18 poll expects the steel major's total turnover to fall by 4 percent Y-o-Y to Rs 35,400 crore. Analysts expect the profits to plunge by 58 percent.
11:00
Banks, metals and realty stocks are under selling pressure too while IT stocks are on buyer's radar for second consecutive day. HDFC, Wipro, Cipla, Bharti and Infosys are top gainers in the Sensex. Among the losers are Tata Motors, GAIl, BHEL, M&M and Tata Power.
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10:00
Cipla, Sesa Sterlite, Wipro, Infosys, HDFC are gainers in the Sensex while Tata Motors, GAIL, M&M, Hero and Sun Pharma are major laggards.
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09:15
Tata Motors reported disappointing Q3 numbers. Jaguar Land Rover (JLR) margins came in below estimates. The company's standalone business was hit by one off provisions as the management made a one time provision of Rs 310 crores for write offs at Singur plant.
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