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The company reported a 24.4 per cent rise in its standalone net profit to Rs 487.93 crore for the quarter ended March 31, 2021, on account of robust sales. Profit in the year-ago period stood at Rs 391.80 crore.
The Hyderabad-based drugmakers total revenues in the quarter rose 20 per cent on-year to Rs 1,741 crore, which was slightly above analysts estimates.
Benchmark indices were trading in the red on Tuesday afternoon, dragged by IT and financials. The Market, after starting off on a negative note in early trade, plunged further amid weak global cues and concerns over Covid impact. However, it recovered marginally on domestic funds' support. At 1 pm, the BSE Sensex was ruling at 49,168.93, down 333.48 points or 0.67 per cent. It hit an intra-day high of 49,304.47 and an intra-day low of 48,988.18. The Nifty 50 was at 14,858.15 , down 84.20 points or 0.56 per cent. It hit an intra-day high of 14,900 and a low of 14,771.40. Coal India, IOC, NT...
Why is Nifty50 behaving as if Covid 2.0 has never happened? SECTIONS Share Synopsis Market data suggests while foreign investors have been dancing to the tune of ‘Sell in May and go away’ when it comes to Indian equities, domestic institutional investors have been sticking their neck out and lapping up those shares. iStock Market data suggests while foreign investors have been dancing to the tune of ‘Sell in May and go away’ when it comes to Indian equities. Related Some called Mr Market ‘heartless’, while others tried to explain it as its typical ‘forward-looking’ behaviour. ...
It is baffling to see how the market has been resilient enough to ignore any negative news. I guess investors have learnt that even if you have 3 months (of lockdown) like we did last year in April, May and June when the economy contracted by 25%, leading market franchises can come back very strongly. During the last 7-8 months of FY21, we saw investee companies of ours such as Asian Paints, Pidilite, Divi’s Lab, Dr Lal Path Labs, Relaxo, HDFC Bank, Kotak Mahindra Bank and Bajaj Finance posting earnings growth of 30-40%. A lot of people had sold these stocks in the panic of February and Ma...