03:09
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The market is still firm in green but the Nifty is below the 7900 mark. The Sensex is up 123.90 points or 0.5 percent at 25720.92 and the Nifty is up 34.15 points or 0.4 percent at 7883. About 1439 shares have advanced, 994 shares declined, and 157 shares are unchanged.
Dr Reddy’s Labs, ICICI Bank, Tata Motors, Asian Paints and SBI are top gainers while HUL, M&M, Axis bank, Maruti Suzuki and HDFC are major losers in the Sensex.
Dr Reddy’s Lab fourth quarter earnings were hurt by one-time Venezuela write-off. The drug major’s net profit fell 86 percent at Rs 74.6 crore in January-March quarter from Rs 518.9 crore. Its total income also slipped to Rs 3756.2 crore against Rs 3870.4 crore in year-ago period. According to a CNBC-TV18 poll, net profit of Dr Reddy’s Lab was expected to jump 5.7 percent at Rs 548.6 crore in Q4FY16 and a revenue growth at 0.7 percent to Rs 3896 crore year-on-year.
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Posted in: Indian Market Tips
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