Closing Bell: Sensex ends up over 200 pts, Nifty fails to close above 9800; pharma stocks gain

Closing Bell: Sensex ends up over 200 pts, Nifty fails to close above 9800; pharma stocks gain

3:30 pm Narrow market: benchmark indices ended the session in the green after a weak 5 previous previous sessions, the Nifty ending just below 9800.

The Sensex closed 235.44 points 31,449.03, while the Nifty finished 83.35 points 9794.15.

The breadth of the market has been positive since 1880 shares advanced against a decline of 720 shares, while 120 shares remained unchanged.

Cipla and Sun Pharma gained more in both indices, while OSE, Kotak Mahindra, Bharti Airtel and Bosch lost the majority.

15:24 Drug Approval: Natco Pharma and Lupine partner received approval from the United States Food and Drug Administration for Generic Lanthanum.

Natco Pharma shares rose 6.5% and Lupine gained 2.5%.

15:21 Profit: Tata Power has recorded a 68% increase compared to a fourth quarter net profit of Rs 221 crore against Rs 131.2 crore published during the same period last year. That said, it was under a CNBC-TV18 survey of Rs 344 crore.

Consolidated sales increased 2 percent to Rs 6,969 crore against Rs 6,838 crore a year earlier.

At the operating level, earnings before interest, taxes, depreciation and amortization increased by 12 percent to Rs 1,831 crore against Rs. 1,635 crore published in the same quarter last year.

15:15 HDIL increases 10%: HDIL based Company-owned Mumbai has settled its debt with the Central Bank of India, reports CNBC-TV18 citing Cogencis.

Shorter coverage was also observed in the population as it fell sharply last week.

3:04 pm telecommunication subscriber data Jio added 6.03 million subscribers in June, which was much higher than its competitors.

Bharti Airtel added 2.05 million subscribers, 0.9 million BSNL and 35,541 Idea Cellular in June.

The stock price of Reliance Industries was quoting Rs 1 595.45, up to 1.87% in BSE.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Trust Media controlled by Network18 Media & Investments Ltd.

15:00 Market update of benchmark indices increased to the last trade, the Sensex increased by 306.28 point or 0.98% to 31 519.87 and the Nifty gained 100.30 point or 1.03% 9 811 , 10.

About three actions have been proposed for each action that falls on BSE.

2:58 pm European trade: European shares rose significantly after senior US officials have tried to reduce the risk of a military conflict with North Korea.

The DAX in Germany and the CAC in France gained 1% each, while the FTSE in Great Britain increased 0.5%.

14:50 Grasim up 4%: Grasim Industrias exceeded analysts’ expectations of earnings before autonomous net profit rose 8.2% compared with last year to Rs 347.2 crore in Quarter ended June 2017.

Revenue in the quarter increased 12.7% to $ 986.5 2 CRS compared to Rs 649 crore in the same quarter of the previous year.

EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 5.2 percent year-on-year to Rs 555.3 crore Rs, but the margin declined by 140 basis points to 20.3 percent In April-June.

Figures were ahead of estimates, revenues are estimated at 323 crore rupees, while operating profit was expected at Rs 518 crore with a margin of 19.5 percent in the quarter.

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