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Moneycontrol Bureau
10:57 am Sun TV Q4: Net profit Rs 178 crore, net sales at Rs 472.7 crore EBITDA at Rs 348 crore, EBITDA margin at 73.3 percent. 10.56 am: The Sensex is down 21.20 points at 20226.13, and the Nifty down 6.60 points at 6163.30. About 967 shares have advanced, 815 shares declined, and 123 shares are unchanged.
10:55 am Gainers: NTPC, Bajaj Auto, Tata Motors, Jindal Steel and ICICI Bank are the key gainers in Sensex.10:47 am Tom Price, Global Commodity Analyst, UBS on CNBC-TV18:
See fundamental support for gold at USD 1,200-1,250/oz
Do not see gold touching USD 1,100/oz by year-end
Brent holding USD 100/bbl level; reflects balanced outlookLight read: Vikram Pandit: A banker's journey from Nagpur to New York 10:40 am Index check: Pharma, banking, consumer durables are losing buyers' interest. BSE Realty is up 1.5 percent from its previous close.10.37 am Marlet check: The Sensex is up 8.96 points at 20256.29, and the Nifty up 1.80 points at 6171.70. About 1004 shares have advanced, 744 shares declined, and 120 shares are unchanged. 10:25 am Precious metal: Gold fell for a seventh straight session on Friday as the dollar strengthened and investors cut exposure to the metal, sending holdings in exchange-traded funds to their lowest in four years. Spot gold was down 0.53 percent at USD 1,378.41 an ounce by 0346 GMT, having fallen to a four-week low of $1,369.29 on Thursday as renewed liquidation in gold ETFs and a recent drop below the USD 1,400-per-ounce level spooked investors.10:22 am Buzzer: Tata Teleservices (Maharashtra) or TTML's offer-for-sale of 5.16 cr shares opens and closes today. The stock is down over 5 percent.10:20 am Shedding weight: Linde India is down 4.4 percent. Their offer-for-sale which closed yesterday managed to raise USD 55 million with participation only from fund houses and domestic insurance companies. 10:15 am Brokerage call: UBS has a buy on Cairn with a target of Rs 445. Cairn's aggressive drilling plans and capex could show encouraging results. Growing net cash and a likely hike in dividend pay-out will be positive, it says.10:10am Feeling sick: Pharma majors, Ranbaxy, Dr Reddy's, Cipla lose about 1.5 percent after the Department of Pharma notified the drug price control order yesterday. Accordingly, new pricing will come into effect on the July 1. While this is in-line with most analyst expectations but it will impact the bottomline and return ratios of the companies in the near term with no substantial long term impact likely.Earnings check:Bajaj Auto Q4 net down 1% at Rs 766 cr; beats street
Reliance Capital Q4 net drops 20%, tax reversal saves show
Macquarie: How banks look post Q4 earnings The market seems to be going out of breath after the consecutive gains this week. At 09.57 hrs IST, the Sensex was down 7.21 points at 20240.12, and the Nifty fell 3.80 points to 6166.10.Technology stocks were seeing some buyers' interest taking the index up 0.9 percent.
Infosys, TCS, Tata Motors, NTPC, ITC were the biggest gainers in the Sensex. Star of the day JM Financials hit 52-week high at Rs 27.50, up 15.7 percent on the BSE. Former chief executive officer of Citigroup Inc Vikram Pandit and Hari Aiyar announced to buy stake in JM Financial through warrants.Nimesh Kampani-promoted JM Financial Thursday sought to strengthen its case for a banking license by roping in former Citigroup CEO Vikram Pandit.Meanwhile, Dr Reddys Labs, HDFC Bank, GAIL, HDFC and Bharti Airtel dragged in the Sensex. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
