Sensex, Nifty gain on D-Street; Sun Pharma top loser
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Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.46%, while the Nikkei 225 led the Hang Seng lower. They fell 1.46% and 0.11% respectively.
Indian equity indices closed on a positive note. The BSE finished at 27,591.14 above 132.15 points or 0.48% and that of NSE at 8543.55 up by 46.50 points or 0.55%.
Sun Pharma stocks cracks by Rs 21.55 or 3.28% on BSE, trading at Rs 635.70 on reports that its Mohali plant is being inspected by US FDA.
Nifty bank and PSU index have erased early trading gains.
Investors dampened Britannia Industries shares after it made some changes in its managerial personnel. The company appointed N Venkataraman as the chief executive officer. Venkataraman has been serving as Vice President of Finance of Britannia. Following the development, the shares on BSE were trading at Rs 3240.90 down by 62.30 or 1.89% at 2.59 pm.
Shares of BHEL were trading at Rs 143.10 on BSE, above nearly 3% after it reported positive Q2 earnings. The company witnessed a net profit of Rs 109 crore for the second quarter ended September 30, 2016 as against a net loss of Rs 108.78 crore in the corresponding period of the previous year. Net profit grew 40.15% on a quarter-on-quarter (qoq) basis.
Hindalco Industries shares were up by 2.57% on BSE, trading at Rs 171.80 after the company said to weigh $500 Million share sale amid stock rally.
Auto index was the top gainer on BSE, by soaring over 198 points or 0.91% at 22,093.29. Among the gainers were - Tata Motors at Rs 536.20 up by 5.70% and Ashok Leyland at Rs 91.65 above 2.23%. While Bajaj Auto and MRF were also trading positive in the range of 0.30% -0.70% at Rs 2847.05 and Rs 50,993.10 respectively. On the losers side were - Motherson Sumi at Rs 309.45 (1.90%), followed by Maruti Suzuki at Rs 5637 (1.46%), Amara Raja Batteries at Rs 1002.20 (1.31%) and Bharat Forge at Rs 852 (0.73%).
European indices were trading positive on Tuesday's trading session. DAX was above 0.06% at 10,462.99, while England's FTSE 100 was up by 0.14% trading at 6817.35. On the other hand France's CAC 40 remained flat at 4462.25.
Shares of Bharat Forge slumped by 0.96% on BSE, trading at Rs 850, after it reported weak Q2 earnings. The reported net profit of Rs 126.89 crore for the second quarter of September 30, 2016, witnessing decline of 26.34% year-on-year (yoy) but growth of 3.95% quarter-on-quarter.
Tata Motor's shares surged over Rs 30 or 6% on BSE, trading at Rs 537.70 after the company confirmed that foreign investors have not raised any concern over its Governance.
Sensex-Nifty working with negligible growth.
Reliance Communication was trading at Rs 44.50 down by 0.78% on BSE after the company said Aptel upholds principle of fuel cost pass-through under section 62 for Vidarbha Industries Power Ltd.
Bharti Airtel on Tuesday said Venkatesh Vijayaraghavan who serves as Chief Executive Officer of Market Operations AP under the company has raplaced Rohit Malhotra - CEO of its B2C operations. Shares of Bharti Airtel was trading at Rs 304.30 down by 0.33%.
Indian market off their highs.