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Friday, 7 November 2014

BSE Sensex, Nifty consolidate; Infosys up 1%, SBI slips 2%

1:50 pm Results: FMCG major Marico has reported a 11.7 percent growth in consolidated net profit at Rs 118.3 crore in July-September quarter led by higher revenue growth. Profit in the year-ago period was Rs 105.9 crore.

Consolidated total income from operations grew by 28 percent to Rs 1,431 crore in the quarter ended September 2014 compared to Rs 1,118.4 crore in same quarter last year with volume growth of 7 percent.

"Volume growth in India was 8 percent and 5 percent in International business," said the company in its filing.

1:30 pm Buzzing: Shares of Aurobindo Pharma hit record high at Rs 1043.40 per share, up 4 percent intraday on Friday after it has reported a whopping 58.3 percent growth in consolidated net profit at Rs 372 crore for July-September quarter led by US generics. Profit in the year-ago period was Rs 235 crore.

Consolidated revenue grew by 50.5 percent to Rs 2,881 crore in the quarter ended September 2014 compared to Rs 1,914 crore in the same quarter last year driven largely by US business that reported a 60.7 percent growth during the quarter.

Europe business in July-September quarter increased by 349.3 percent while rest of the world business showed a 67.2 percent growth compared to year-ago period.

The market consolidates with a negative bias. The Sensex is down 104.93 points at 27810.95 and the Nifty is down 23.25 points at 8315.05. About 1281 shares have advanced, 1496 shares declined, and 96 shares are unchanged. 

Dr Reddy's Labs, Axis Bank, Hindalco, Sun Pharma and Infosys are top gainers in the Sensex. Among the losers are Sesa Sterlite, BHEL, GAIL and SBI.

Asian shares edged down on ahead of US employment data later in the session, while the euro wallowed around two-year lows after European Central Bank President Mario Draghi vowed to take more easing steps to spark growth in the euro zone.

Investors were likely to remain cautious ahead of the key US nonfarm payrolls report. Solid gains in employment are projected, and could increase speculation the Federal Reserve could raise US interest rates in the middle of next year. More information please visit this site www.bigprofitbuzz.com

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