Sensex Jumps 251 Points After Flat Opening
Mumbai, May 23 (IANS) Indian equity indices were trading in the green on Thursday after a flat start. At 9:40 a.m., Sensex was up 251 points or 0.34
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Mumbai, May 23 (IANS) Indian equity indices were trading in the green on Thursday after a flat start. At 9:40 a.m., Sensex was up 251 points or 0.34
Sun Pharma, Power Grid, Hindalco, JSW Steel and Grasim Inds. were among the top losers on NSE.
Sun Pharma numbers were slightly below expectations in terms of EBITDA and we do think that though they have guided for a very strong growth through their speciality portfolio, that is a little bit time away.
Notably, the management said that spending on R&D expenses will rise to 10% of revenue from 6-7% to aid its specialty portfolio
In Thursday's trading, Vedanta, Sun Pharma, NMDC, MFSL, and Hindalco witnessed a build-up of fresh short positions, signaling potential downward movement in stock prices.