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Healthcare, engg least favoured today
Thu, 23 Apr Closing

The Indian markets ended the day on a weak note, amidst a volatile final hour trading session. The BSE-Sensex closed lower by about 160 points or 0.56% while the NSE-Nifty closed lower by about 31 points or 0.4%. Midcaps ended the day on a firm note (up 0.6%), while smallcaps closed weak with the representative index ending lower by 0.2%. Amongst the sectoral indices pharmaceuticals, engineering and realty stocks were the least preferred, while consumer durables and metal stocks were amongst the key gainers.

At the time of writing, the INR was trading at 63.19 to the US$. Stocks in Europe were largely trading weak.

Indian pharma stocks have ended largely on a weak note, with Indoco remedies and JB Chemicals being the top gainers in the pack, while Natco Pharma and Sun Pharma witnessing the maximum selling pressures. As per a financial daily, Biocon is planning to list its subsidiary Syngene. Biocon holds approx 86% stake in Syngene. The company has filed draft red herring prospectus (DRDP) and expects Syngene to get listed around July 2015. Reportedly, Biocon will be offloading 10% stake of Syngene, since the company needs funds to support is ongoing research and development plans. Biocon has been planning to list Syngene for a while now. The shares of Biocon closed up by approx 1%.

Most of the food & tobacco stocks are trading in the green with Golden Tobacoo and United Spirits being the major gainers. However, Sterling Biotech and VST Industries are trading in the red. VST Industries announced its results for the quarter ended March 2015. The company registered a 16% YoY topline growth for the quarter. But higher input costs led to a 4.3% contraction in operating margin for the quarter. Net profits slumped by 21.6% YoY for the quarter on a 1.3% increase in operating profit and 73.5% fall other income earned. For FY15, the company's sales increased by 6% YoY but net profits were down marginally on account of lower other income. The company has declared a dividend of Rs 70 per share of face value of Rs 10 each for FY15, subject to shareholder's approval. VST Industries closed lower by 3% today.

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Jan 19, 2018 (Close)