Shares of Divis Labs soared 8 percent intraday riding on its April-June quarter results. Its Q1 net profit jumped 44.8 percent to Rs 243.2 crore in April-June quarter from Rs 167.9 crore in corresponding quarter last fiscal. The drug company pocketed forex gain of Rs 21 crore in Q1 against Rs 1 crore in year-ago period. During the quarter, its total income also grew 25.8 percent at Rs 808.8 crore compared to Rs 642.7 crore year-on-year. Q1 EBITDA was up 27.5 percent at Rs 300 crore against Rs 235 crore while EBITDA margin stood at 37.1 percent versus 36.6 percent (Y-o-Y).
The market is steady with the Nifty holding 8600 level. The 50-share index is up 41.20 points or 0.5 percent at 8605.80 and the Sensex is up 131.21 points or 0.5 percent at 28367.60. About 1650 shares have advanced, 1088 shares declined, and 151 shares are unchanged. HDFC, BHEL, Hero MotoCorp, Lupin and TCS are top gainers while ONGC, M&M, Sun Pharma, Coal India and NTPC are among laggards.
There is a strong rally in China with the Shanghai index up 5 percent on hopes of more stimulus following disappointing economic data. Kospi and Hang Seng end lower and Nikkei gains half a percent. European markets open on a mixed note. Gold steadied not far above a 5-5.5year low on Monday, with a firm dollar after solid US job gains in July suggesting the Federal Reserve could raise interest rates as early as next month.
US nonfarm payrolls increased 215,000 in July, less than the 223,000 rise that economists had expected, although still seen in line with a tightening labour market. Payrolls data for May and June was revised to show 14,000 more jobs created than previously reported.
For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
or visit http://www.ways2capital.com
✆ - 0731-6554125 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
0 comments:
Post a Comment