Sensex, Nifty marginally higher; ICICI falls ahead of Q4 nos

Moneycontrol Bureau10:40 am Interview: HCC’s fourth quarter margins improved on back of a strong orderbook, said the company’s Managing Director Ajit Gulabchand. Infrastructure major Hindustan Construction Company (HCC) on Thursday reported in-line fourth quarter numbers with a 4.6 percent rise in total income at Rs 1,171 crore and a 12 percent rise in operational efficiency (EBITDA) to Rs 218 crore.The company received Rs 7,000 crore worth orders in FY16, which takes the orderbook to a total of Rs 20,000 crore, its highest in last five years, Gulabchand said. Arbitration claims stood at Rs 11,000 crore, of which Rs 3,041 crore is yet to be received by the company. HCC's consolidated debt stands at Rs 11,000 crore and standalone debt is at Rs 4,900 crore. Gulabchand said that while the company has tried reducing debt by selling road assets, some assets cannot be sold off due to commercial operation date (COD) issues. 10:20 am Buzzing: Lupin shares gained nearly 2 percent. The drug firm has strengthened its brand portfolio in the US market with the introduction of its Methergine oral tablets used for the prevention and management of excess blood loss after delivery, in the US.

The company had acquired oral methylergonovine maleate (Methergine) earlier this year, Lupin said in a statement.

"The re-introduction of Methergine is a proud moment for Lupin, but also an important moment for expectant mothers across the country to feel confident in care options," Lupin Pharmaceuticals Inc President Paul McGarty said.

The tablets are used "for the prevention and management of postpartum hemorrhage (PPH)", Lupin said.

"The United States is Lupin's largest market and contributed 45 percent to the company's revenue during financial year 2014-15," a company spokesperson told PTI.

Methergine is a registered trademark of Novartis AG, the company said.Also read - Weak $ best for EMs; Indian mkts won't revisit Feb lows: Pros10:00 am Market Check: The market gained strength in morning trade with the Sensex rising more than 100 points led by banking & financials, healthcare, IT and FMCG stocks.

The 30-share BSE Sensex rose 124.15 points to 25727.25 and the 50-share NSE Nifty advanced 31.95 points to 7879.20. The broader markets gained 0.4 percent on positive market breadth.

More than two shares advanced for every share declining on Bombay Stock Exchange.

ICICI Bank declined 1 percent ahead of fourth quarter earnings due later today. A CNBC-TV18 poll expects net profit to rise 6.6 percent YoY to Rs 3115.1 crore and net interest income to grow 9.6 percent to Rs 5565.2 crore in Q4.