Sensex remains in positive territory; Wockhardt jumps on strong results

The market is trading modestly higher around noon with stocks from realty, banking, automobile and capital goods sectors trading firm on fairly good buying support. FMCG, oil and consumer durables stocks are also faring reasonably well today.

Healthcare and power stocks are mostly subdued. Information technology stocks too are somewhat subdued amid lackluster trades at present.

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The Sensex is up 46.26 points or 0.26% at 17,819.10. At 5410.10, the Nifty is up 19.90 points or 0.37% over its previous closing mark.

According to the data released by the government this morning, inflation based on wholesale price index stood at 6.5% in January, as compared to 7.47% in the previous month.

State Bank of India is up 3.7% thanks to sustained buying at the counter. Hindalco has notched up a gain of 2.6%. Mahindra & Mahindra, Hero Motocorp, Tata Motors and Maruti Suzuki are up 1% - 2%. Sterlite Industries, ICICI Bank, DLF, Sun Pharmaceuticals, GAIL India, BHEL and Reliance Industries are also trading notably higher.

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Alstom Projects is up nearly 8% at Rs 413. Lanco Infratech has gained almost 7%. Allahabad Bank, Jain Irrigation Systems, Shree Renuka Sugars, Andhra Bank, Uco Bank, United Spirits, Tata Communications, Essar Oil, Indian Bank, Emami, Indiabulls Real Estate and HDIL are up 3.5% - 5%.

Wockhardt is up with a gain of 4.5%. The company reported a 51% year-on-year growth in net profit at Rs 213 crore for the third quarter ended December 2011, on the back of strong sales in the US market. Net sales grew 27% at Rs 1,209 crore on y-o-y basis. The profit margins improved by more than 300 basis points during the recently concluded quarter, the company said.

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Aurobindo Pharma Ltd has posted a net profit of Rs 12.93 crore for the quarter ended December 31, 2011 as compared to Rs 183.85 crore in the quarter ended December 31, 2010. Total income has increased from Rs 1157.66 crore for the quarter ended December 31, 2010 to Rs 1203.18 crore for the quarter ended December 31, 2011.

On a consolidated basis, the Group has posted a net loss of Rs 28.54 crore for the quarter ended December 31, 2011 as compared to net profit of Rs 188.63 crore for the quarter ended December 31, 2010.

Glenmark Pharmaceuticals has announced that its Novel Chemical Entity 'GRC 17536' has completed Phase I trials in the Netherlands. GRC 17536 is a global first program targeting the TRPA 1 receptor antagonists for pain and respiratory disorders.

The National Association of Software and Services Companies (Nasscom) said today that export revenues from the infotech and IT-enabled services sector are expected to grow between 11% and 14% in US dollar terms, while the domestic market is expected to grow by 13-16% in rupee terms this year.

"In the domestic market, FY13 software and services growth has been forecast between 13-16%, while revenue growth is expected between Rs 11,000 and 14,000 crore," Nasscom chairman Rajendra Pawar said.