Sensex edges lower, RIL rises ahead of Q3 result
.70 -38.20 .36 -140.82
Indian stocks markets remained subdued today tracking weak global markets with IT stocks leading the decline. The Sensex was down 140 points at 21,124 while Nifty was off 38 points at 6,280.
Shares in Tata Consultancy Services Ltd fell 5 per cent after the company's December quarter profit when adjusted for other income, as well as operating margins were seen lagging expectations, analysts said.
TCS said late on Thursday quarterly consolidated net profit surged 49.6 per cent to Rs 5,314 crore.
TCS' results also weighed on other IT stocks. HCL Technologies fell 0.4 per cent, while Wipro was down 3 per cent ahead of its results later in the day. Infosys however was up 0.75 per cent.
RIL, which will also announce its Q3 results later in the day, was up nearly 1 per cent to Rs 896.45.
Analysts polled by NDTV estimate RIL's third quarter sales to rise to Rs 103,074 crore from Rs 93,886 crore a year earlier. Net profit is expected to edge lower to Rs 5,273 crore vs Rs 5,502 crore a year earlier.