Sun Pharma has fallen by 7.8% to Rs 889 per share on the Sensex. Some of the reasons for the fall can be attributed to the sharp fall in net profit for the March quarter. It reported a consolidated net profit of Rs 888.05 crore against a a net profit of Rs 1,587.12 crore for the same period of the previous fiscal.
PVR shares have also fell sharply by up to 7.5 per cent after the company reported a consolidated net loss of Rs 36.35 crore for the quarter ended March 2015.
10:00 am The benchmark BSE Sensex rose over 51 points to 27,880.15 in early trade today on the back of increased buying by funds and investors helped by positive growth data for the March quarter.
The 30-share index, which had gained 321,73 points in the previous session at the beginning of the June series in the derivatives segment, gained 51.71 points, or 0.18 per cent, to trade at 27,880.15.
Stocks of realty, banking, IT, metal, PSU and power led the gains.
The NSE Nifty was trading higher by 15.40 points, or 0.18 per cent, at 8,449.05.
Sentiment turned better as buying activity gathered momentum after India’s economy grew 7.5 per cent in the last quarter of 2014-15, brokers said.
Besides, expectations of a rate cut by the Reserve Bank of India at its policy meet tomorrow triggered the flow, they said.
However, caution prevailed on disappointing company earnings and a weak trend at other Asian markets.
Among other Asian markets, Hong Kong’s Hang Seng shed 0.19 per cent while Japan’s Nikkei shed 0.58 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.64 per cent down in Friday’s trade as data showed the economy contracted in the first quarter.
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