Dealers look at financial data on computer screens on the trading floor of IG Group Holdings Plc in London, U.K. (Photographer: Simon Dawson/Bloomberg)

Nifty Ends At Over Seven-Month Low; Yes Bank Top Loser

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Closing Bell: Sensex Falls Nearly 350 Points, Nifty Settles Below 10,050

India's NSE Nifty 50 Index fell for the second day in a row, to its lowest level in over seven months, dragged by weakness in IT firms like TCS and HCL Technologies, and banking blue-chips including Yes Bank and Axis Bank.

The S&P BSE Sensex fell 1.01 percent or 341 points to 33,349 and the NSE Nifty 50 Index dropped 0.94 percent or 95 points to 10,030.

For the week, Sensex fell 2.82 percent and the Nifty 50 Index declined 2.65 percent.

Fifteen of 19 sector gauges compiled by BSE ended lower led by the S&P BSE IT Index's 2 percent drop. On the other hand, the S&P BSE Energy Index was top gainer, up 0.6 percent.

Nifty Ends At Over Seven-Month Low; Yes Bank Top Loser

Dr. Reddy's Gains 2.5% After Q2 Profit Beats Estimates

Dr. Reddy's Laboratories Ltd.’s profit nearly doubled year-on-year to Rs 504 crore in the second quarter of the financial year, exceeding analyst estimates of Rs 354 crore.

Revenue rose 7.2 percent to Rs 3,817 crore, also higher than the Rs 3,783 crore estimate.

Sales in North America rose 0.4 percent to Rs 1,426 crore while in Europe jumped 21 percent to Rs 191 crore.

Earnings before interest, tax, depreciation and amortisation rose 25.5 percent year-on-year to Rs 864 crore while Ebitda margin rose to 22.8 percent from 19.4 percent in the same quarter last year.

ITC Extends Decline Despite Profit Beating Estimates In Q2

Shares of the country’s largest cigarette maker extended decline and fell as much as 4 percent, the most since Oct. 5, to Rs 276 after it reported July-September quarter earnings.

Key earnings highlights:

  • Revenue up 7 percent at Rs 11,069 crore versus Rs 10,314 crore (YoY); Estimate of Rs 10,720 crore
  • Net profit up 12 percent at Rs 2,955 crore versus Rs 2,640 crore (YoY); Estimate of Rs 2,880 crore
  • Ebitda up 12 percent at Rs 4,205 crore versus Rs 3,761 crore (YoY)
  • Margin at 38 percent versus 36.5 percent (YoY)

UPL Drops After Profit Misses Estimates In Q2

Shares of the Mumbai-based agricultural chemicals maker erased gains and fell as much as 1.6 percent to Rs 590 after its profit missed estimates in July-September quarter.

Key earnings highlights:

  • Net profit up 14 percent at Rs 270 crore versus Rs 237 crore (YoY); Estimate of Rs 386 crore
  • Revenue up 13 percent at Rs 4,257 crore versus Rs 3,770 crore
  • Ebitda up 17 percent at Rs 839 crore versus Rs 719 crore
  • Margin at 19.7 percent versus 19.1 percent
  • Exceptional loss of Rs 52 crore

Godawari Power And Ispat Surges After Profit More Than Doubles In Q2

Shares of the Raipur-based steel maker rose as much as 7.83 percent to Rs 412 after its profit more than doubled in July-September quarter.

Key earnings highlights:

  • Net profit up 139 percent at Rs 67 crore versus Rs 28 crore (YoY)
  • Revenue up 45 percent at Rs 805 crore versus Rs 555 crore (YoY)