Indian shares are turning in a lackluster performance on Tuesday ahead of July inflation data due around noon today. With firm Asian cues helping limit the downside, the benchmark BSE Sensex is currently down 11 points or 0.06 percent at 17,622, while the broader Nifty index is down 3 points or 0.07 percent at 5,345.
Second-line stocks are gaining ground and the market breadth is fairly positive, with gaining shares outpacing declining ones by 1206 to 740 shares on the BSE. Oil/gas, metal and banking stocks are leading the gainers, while power, healthcare, realty and FMCG stocks are subdued.
Lanco Infra is tumbling 3.8 percent after the company posted consolidated net loss of Rs. 441.2 crore in the quarter ended June as against a Rs 13.8 crore profit in the year-ago period. Suzlon Energy is retreating 4.2 percent after the wind turbine maker reported its biggest ever quarterly loss of Rs.849 crore for the three months ended June.
Maruti Suzuki is declining 1.6 percent after it deferred a decision concerning the reopening of its Manesar plant till Friday. Larsen & Toubro is edging down 0.2 percent on turning ex-dividend.
DLF is moving down 0.7 percent after it entered into a pact to sell 17 acres of prime land in Mumbai to Lodha Developers for Rs.2,700 crore.
Sun Pharmaceutical Industries is losing over 2 percent on reports Taro's minority shareholders have rejected the company's sweetened offer for buying the remaining shares in Taro. Kesar Enterprises is moving down 3.6 percent after its board approved a rights issue.
Hindalco Industries is down 0.7 percent, while Reliance Infrastructure is posting a modest 0.1 percent gain ahead of their quarterly results today.
Coal India is rising 1.4 percent as it reported an 8 percent rise in first-quarter net profit, boosted by higher sales and implementation of a new pricing mechanism. Tata Steel is gaining 1.5 percent after reporting an 89 percent decline in quarterly consolidated net profit, in line with estimates.
India Cements is up 0.6 percent despite reporting lower quarterly net profit.
Indian shares ended modestly higher on Monday, with realty, consumer durable and capital goods stocks leading the late-session rally. The benchmark 30-share BSE Sensex ended the session up 76 points or 0.43 percent at 17,633, while the broader Nifty index rose by 27 points or 0.52 percent to 5,348.
by RTT Staff Writer
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