Friday, 27 May 2016

Nifty eyes 8150, Sensex firm; Sun Pharma soars 4%, ITC down

Sun Pharma surged 4 percent after Taro earnings. Its subsidiary's profit declined 24.5 percent but operational performance was strong due to a 16.4 percent fall in R&D cost. Operating margin expanded by 400 basis points at 69 percent YoY.

Equity benchmarks continued to see buying interest on first day of June series. The Nifty is inching towards 8150 level, up 55.65 points or 0.69 percent at 8125.30.

The Sensex rose 168.30 points or 0.64 percent to 26534.98, led by pharma, banks and technology stocks. The broader markets also participated in rally with the BSE Midcap and Smallcap indices rising 0.7 percent each. The market breadth remained strong as about two shares advanced for every share declining on Bombay Stock Exchange.

Sun Pharma surged 4 percent after Taro earnings. Its subsidiary's profit declined 24.5 percent but operational performance was strong due to a 16.4 percent fall in R&D cost. Operating margin expanded by 400 basis points at 69 percent YoY.

Lupin gained nearly 3 percent after sources told CNBC-TV18 that Mandideep unit has received establishment inspection report from US FDA. It is the 2nd largest revenue contributor to US business after Goa unit.

ITC, Tata Motors, L&T and NTPC were marginally down on profit booking.
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5 comments:

aditi said...

Good to see sunpharma's outstanding perfomance. ITC may be suffered because of recent amendments by SC. For similar updates and stock tips join epic research.They offer two days free trial as well !

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Biocon gained 3 percent after the company along with Mylan confirmed the efficacy & safety of biosimilar cancer drug.
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