At 12:23 pm (IST), the BSE 30-share Sensex was flat at 17,210 and NSE Nifty was up 13 points at 5,135.
After starting off with healthy gains, markets have slipped from the top led by offloading witnessed in the IT, FMCG and select telecom stocks. The slide is seen despite firm cues from the Asian markets. The Nikkei and the Hang Seng index are up by 0.5% and 1.4% respectively.
Among the 30 components of the Sensex 18 are in the negative terrain and 12 are in the red. ICICI Bank, SBI, Bharti Airtel, Tata Motors and Maruti are among the major gainers. On the other hand, Infosys, L&T, L&T and Hindustan Unilever are among the major losers.
At 12:23 pm (IST), the BSE 30-share Sensex was flat at 17,210 and NSE Nifty was up 13 points at 5,135.
Shares of Sun Pharma have surged by over 2% to Rs1549 after the company announced that it received the support of Templeton Asset Management to acquire Israeli drugmaker Taro Pharmaceutical, Templeton Chairman Mark Mobius was quoted as saying.
He added, Supreme Court in Israel should pass a decision quickly so that Sun can take control of Taro. Templeton owns a 10% equity stake in Taro.
The scrip opened at Rs1564 it touched an intra-day high of Rs1638 and a low of Rs1545 and has recorded volumes of over 0.15mn shares on NSE.
Shares of Tata Elxsi have rallied by over 18% to Rs200 after reports stated that the company’s sales may reach US$400mn within three years.
The scrip opened at Rs172 it touched an intra-day high of Rs202 and a low of Rs172 and has recorded volumes of over 2mn shares on NSE. The stock had hit its 52-week low of Rs75 on March 06, 2009.
