The market continues to trade flat, with most of the front line stocks still moving in a tight range amid cautious moves by investors.
The Sensex is up 31.63 points or 0.15% at 21,369.30. At 6343.95, the Nifty is up 5 points or 0.08% from its previous close.
Larsen & Toubro, GAIL India, HDFC, Sun Pharmaceutical Industries, Bharti Airtel and Axis Bank are up 1.5% - 2.7%. Jindal Steel & Power, Cairn India, BHEL, BPCL, Ultra Tech Cement, ITC and Ranbaxy Laboratories are also trading notably higher.
HCL Technologies is down by a little over 3%. Mahindra & Mahindra is trading 2.8% down. ONGC, IndusInd Bank, NTPC, Tata Steel, Bank of Baroda, Tata Consultancy Services, Cipla, Punjab National Bank, Tata Motors, Bajaj Auto, Sesa Sterlite and Reliance Industries are also trading weak.
Radico Khaitan is up 3.7% at Rs 165.50 on the back of reports that Morgan Stanley Asia Singapore acquired 20.46 lakh shares, or 1.54% equity, through the exchanges on Wednesday.
Indian Bank is up nearly 3% at Rs 110. The bank has posted a net profit of Rs 264.50 crore for the quarter ended December 31, 2013 as compared to Rs 330.58 crore for the quarter ended December 31, 2012. Total income increased from Rs 3786.69 crore for the quarter ended December 31, 2012 to Rs 4112.33 crore for the quarter ended December 31, 2013.
Unichem Laboratories has announced that it has received ANDA approval from the United States Food and Drug Administration (U.S. FDA) for Metronidazole USP Tablets. Metronidazole USP Tablets 250mg and 500mg are therapeutically equivalent to Flagyl Tablets 250mg and 500mg of G.D Searle LLC. Metronidazole Tablet USP is an anti-infective agent used to treat a variety of bacterial and protozoal infections. The stock is down marginally at Rs 211.60.
Alembic Pharmaceuticals is down 1.3% at Rs 225 despite a surge in earnings. The company has posted a 37% rise in net profit for the quarter ended December 31, 2013 to Rs 65.93 crore compared to Rs 48.27 crore in the corresponding quarter a year before mainly on the back of a robust growth in its international generic formulations business. Net sales for the quarter is up 31 per cent on a year-on-year basis at Rs 487 crore against Rs 372 crores in corresponding quarter last year.
Dish TV India Ltd has reported a net loss of Rs 38.25 crore for the quarter ended December 31, 2013 as compared to net loss of Rs 44.88 crore for the quarter ended December 31, 2012. The stock is down by about 0.5% at Rs 50.50 at present.