Amid alternate bouts of buying and selling, the market is moving in a tight band today. With no big triggers to warrant any strong buying, movements are somewhat sluggish ever since trade commenced this morning.
The Sensex is now down 4.80 points or 0.02% at 19,479.97, and the Nifty is down with a loss of 2.70 points or 0.05% at 5900.80.
Cipla is up nearly 3% at Rs 391.80. Axis Bank and Dr Reddy's Laboratories are up 2.7% and 2.6%, respectively. Tata Motors is up 1.8%. Hindustan Unilever, HDFC Bank, DLF, Sesa Goa, Ultratech Cement and Hindalco are trading higher by 1% - 1.4%.
IDFC is down with a loss of 2.7%. ACC is trading lower by around 2%. Bharti Airtel, BPCL, ONGC, Larsen & Toubro and Maruti Suzuki are down 1.2% - 1.8%.
SKS Microfinance Limited shares spurted 10% to Rs 146, hitting the upper circuit, following an announcement from the company that it has concluded two highest rated microfinance securitization transactions aggregating to Rs 390 crore.
Shares of Gillette India Limited are down sharply, following an announcement from the company that it taking steps to increase its public shareholding to 25%, as directed by the market regulator Securities and Exchange Board of India. In a filing to the exchanges, the company said it has moved the Securities Appellate Tribunal over interpretation of a proposal made by the company to achieve compliance with the minimum public shareholding requirement under the Securities Contract (Regulations) Rules 1957 and the Listing Agreement, by way of an offer to sell down shares, thus increasing public shareholding in the company to the prescribed 25% level.
BEML is down more than 3% following the company reporting a net loss of Rs 63.34 crore for the quarter ended 31 December 2012, as compared to a net profit of Rs 40.07 crore in the corresponding quarter last year.
Emami is up nearly 4% on strong buying following the company recording a 21.6% surge in net profit at Rs 114.95 crore for the quarter ended 31 December 20122. Net sales rose 21.3% Rs 548.65 crore in the third quarter of this year, over the prior corresponding period.