Indian markets end lower after RBI keeps policy rate unchanged
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Lupin slumped nearly Rs 89.45 or 5.28% to Rs 1603.30 despite reporting strong Q1FY17. The company reported consolidated net profit of Rs 881.9 crore, registering growth of 55.12% yoy and 17.93% qoq.
Lupin trades as top gainer on BSE exchange ahead of its first quarter of the current year result announcement today. The company was trading Rs 1713.95, surged by Rs 21 or 1.25%.
Idea Cellular slumped nearly 4.75% to Rs 98.20 after reporting after it reported a 74% drop in its June quarter net profit to Rs 220 crore. The telecom service provider has also slumped by 6% in Tuesday's trading session hitting a 52-week low of Rs 96.55.
Fast Moving Consumer Index were the top loser on NSE exchange as it faced selling pressure from investors. The index was trading at 22,008.50, plunged by 192 points or 0.86%. Colgate-Palmolive was top loser despite of robust June quarter (Q1FY17) performance. The company was trading at Rs 987 down by 28 points or 2.78%.
On Tuesday, investors maintained a cautious status ahead of RBI's monetary policy. Raghuram Rajan the governor of central bank will be announcing his last monetary policy. Following it, a negative marking was seen in Indian markets as investors made their profit booking. The Sensex was trading 28,117.76 below 65 points or 0.23%, while Nifty was down 14 points or 0.16% to 8697.30.