At the close of market today, the indices remained flat after they traded in the range the whole day. The Nifty closed above the benchmark 10,900 level and was up at 10907 up by 1.8 points. The Sensex fared better than Nifty and closed at 36386.61 and was up by 12.53 points. Concerning the shares, there was a decline in the prices of 1632 shares, 890 shares saw a rise and 161 shares had no change in price. There were gains in IT and energy stocks while it was a disappointing day for pharma, auto, infra, and PSU sectors.
Reliance Industries which closed at 0.13% lower as it is due to report its quarterly results on Thursday but got a boost today as they posted a strong Q3 result. Jet Airways also saw a reduction of 4.93% in the morning but was resurrected by the end of the day at 5.78 percent after SBI said that the airlines were thinking of a plan to restructure it. In other sectors the private banks showed mixed results with the Nifty index for private banks were down, Axis Bank was down by 1.81%, Yes Bank down by 0.92%, Kotak Mahindra up by1.72%. HDFC Bank up by 0.99% and Induslnd Bank up by 0.08% while ICICI Bank was down by 0.71%.
Sun Pharma shares down:
The shares of Sun Pharma fell by over 12% taking their fall to 17% over the last two days. There was some more news on the whistleblower controversy surrounding the company. The reports of a second complaint by a whistleblower made the stocks plunge further. The confidential emails and other documents were handed over for inspection. The company in its statement said that while only some investors have the whistleblower documents available and hence there is an imbalance in the information available between the investors, media, and analysts and that has led to a lot of speculation in the media which is putting other investors in a disadvantage. The company also expressed concern that certain entities are choosing unfair trade practices which can harm the interest of stakeholders and shareholders.
Caplin shares get funding of 218 crores :
Eight Road Ventures India and F Prime Capital Partners have agreed to invest in Caplin point. Both the companies and the investors have approved the investment agreement get a preference share at a rate of 0.001% of Caplin Steriles.