Software and Pharma Exporters Lead Sensex Advance in Mumbai

Mukesh Buch
19 Aug, 2015
New York City

Generic drug makers and software services exporters led the gainers in Mumbai trading. DLF plans to sell its land parcel in Kochi. ICICI Bank acquired 9% stake in Karuturi Global. Tata Elxsi profit surged 71% on 28% increase in revenues.

[R]6:00 PM Mumbai – Generic drug makers and software services exporters led the gainers in Mumbai trading. DLF plans to sell its land parcel in Kochi. ICICI Bank acquired 9% stake in Karuturi Global. Tata Elxsi profit surged 71% on 28% increase in revenues.[/R]

Stocks in Mumbai rebounded after two days of losses and pharmaceuticals and software exporters led the gainers on the expectations of rising sales.

Rupee strengthened 5 paisa to 65.26 against one U.S. dollar.

The Sensex Index increased 100.10 or 0.4% to close at 27,931.64. The CNX Nifty rose 28.60 or 0.4% to 8,495.15.

Gainers & Losers

Aurobindo Pharma Ltd jumped 4.3% to ₹823.50 after the natural and ayurvedic medicine maker plans to construct three formulation plants in Andhra Pradesh and Telangana.

DLF Limited fell 0.7% to ₹127.10 after the real estate developer plans to sell its land parcel in Kochi for about ₹111 crore.

Glenmark Pharmaceuticals Ltd. gained 3.4% to ₹1,200.45 after the generic drug maker received approval from the U.S. Food & Drug Administration for the sale of generic version of Bayer’s Yaz contraceptive tablets.

Infosys Limited rose 0.9% to ₹1,175.05 after the software developer received an order from the Fidelity Bank of Nigeria to upgrade its core banking platform.

Jindal Saw Limited decreased 1.6% to ₹77.10 after the company received shareholders’ approval to raise up to ₹3,000 crore.

Karuturi Global Limited declined 4.9% to ₹3.10 after the florist said that the ICICI Bank acquired 8.89% stake in the company for ₹25 crore.

Tata Elxsi Limited advanced 2.9% to ₹2,193.05 after net in the first-quarter surged 71% to ₹35.72 crore.

Total revenues in the quarter jumped 27.7% to ₹24.35 crore.