Sensex Falls More than 150 Points; Cipla, Coal India Down after Earnings
February 13, 2014 7:38 PM EST
The BSE Sensex falls 0.8 percent, while the broader Nifty is down 0.9 percent.
A road sign next to Bombay Stock Exchange (BSE) building in Mumbai
Shares of Cipla (CIPL.NS) fall 6.4 percent after the company's December-quarter profit dropped by 16.5 percent to 2.84 billion rupees, lagging some analysts' estimates.
Overseas investors bought Indian shares worth 2.12 billion rupees on Wednesday, snapping their nine-day selling streak in the secondary share market, exchange data showed.
Cipla shares were trading down nearly 6 percent at 12.05 p.m.
Company's operational margins for December-quarter at 18.1 percent were lowest in nearly 11 quarters, weighed down by higher research and development expenditure and staff costs, analysts say.
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