LIVE: Sensex, Nifty trade flat; BSE lists at 35% premium
Shares of Glenmark Pharma jumped 6% after the company reported 143% rise in a net profit after tax, minority interest and share of profit of associates for the quarter ended on December 31. The company reported net profit of Rs 477 crore as against Rs 196.1 crore during the same period last year.
At 0946 hours the shares of the company were trading at Rs 961.10 per piece, up 6.06% or Rs 55.05.
Shares of Sun TV climbed over 24% after a special court on Thursday discharged all accused in the Aircel-Maxis deal case, including former Communications Minister Dayanidhi Maran.
Special Judge O.P. Saini discharged Maran, his brother Kalanithi Maran, Kalanithi`s wife Kavery Kalanithi, South Asia FM Ltd (SAFL) Managing Director K. Shanmugam and two companies -- SAFL and Sun Direct TV Pvt Ltd (SDTPL) in two different cases.
At 0939 hours the shares of Sun TV were trading at Rs 688 per piece, up 24.67%, or Rs 136.15 on BSE.
On 30-share benchmark, among top gainers were Coal India (1.11%), State Bank of India (0.99%), Axis Bank (0.94%), Bharti Airtel (0.93%), Sun Pharma (0.78%). Among losers were HDFC (-0.91%), Infosys (-0.69%), ICICI Bank (-0.65%), Tata Motors (-0.40%), Hindustan Unilever (-0.28%).
Stocks in focus:
BSE Ltd: Shares of BSE Ltd will begin its trading on its rival NSE today. The price band was fixed at Rs 805-806.
Tata Motors: On Thursday, Tata Motors launched a new sub-brand 'TAMO' (short for Tata Motors), which will provide innovative mobility solutions according to the company. It said that the new sub-brand is an incubating center of innovation the future of mobility in India.
This means that the sub-brand will concentrate on coming up with new performance and sports cars.
Glenmark Pharmaceuticals: The company posted 143% rise in a net profit after tax, minority interest and share of profit of associates for the quarter ended on December 31. The company reported net profit of Rs 477 crore as against Rs 196.1 crore during the same period last year.
ITC Ltd: On Thursday, ITC shares had touched 26-year high at Rs 279.90 per piece, which is highest since January 1991 after the Finance Minister Arun Jaitley proposed a 6% hike in excise duty on tobacco productsts --- lowest in five years.
Quarterly earning today: ACC, Adlabs Entertainment, Indian Hotels, Torrent Pharma, Jet Airways, Inox Wind, MRF, PVR, Quick Heal
Asian stocks got off to a tentative start on Friday, as investors await the outcome of a key US monthly jobs report that will set the tone for the Federal Reserve's policy outlook and as China's markets reopen after a week-long break.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat after touching its highest level since mid-October in the previous session. Morning trade in markets such as Australia was broadly steady, while Japan's Nikkei share average was up 0.6%.