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.
Most Popular Slideshows
- Jeremy Lin, Kobe Bryant Among The Top 5 Overpaid Players In The NBA (Part 1 - Western Conference)
- Reasons Why Michael Jordan Is Better Than LeBron James [PHOTOS And VIDEO]
- Brawl-Marred Game in NFL Week 3: Philadelphia Eagles 37, Washington Redskins 34 [PHOTOS]
Join the Conversation
- Nexus 6, 8 Release Date is Halloween 2014 as Android L Intro Set for October 16
- New Samsung Galaxy Note 4 and Galaxy S5 Android 5.0 L Killer Features, Encryption and More
- Android 5.0 L Nexus 4, Nexus 5, Nexus 7 Release in October, Google Employees Offer Hint
- U.S and Canada Fighter Jets Chase Out Russian Jets Near Alaska: Air Space Violation Not Confirmed
- Microsoft Doubles OneDrive Space To 30GB Due To iOS 8 Update Issues
- Nexus 8, Nexus 9 Release Date, Device Name And Price Conundrum: What To Expect?