Indian equity market witnessed the volatile session throughout the day. Market remained negative but marginally recovered its losses in the afternoon trade. Nifty held above its psychological level of 5500 and ended the day at 5519.10 down by 23.15 points while Sensex ended the day at 18664.88 down by 68.16 points.
Tata Motors on Wednesday reported a 23% year-on-year drop in consolidated net profit for the June quarter. Tata Motors' net profit fell to Rs. 1,726 crore on sales of Rs. 46,785 crore compared to net profit of Rs. 2,245 crore on sales of Rs. 43,324 crore in the corresponding quarter last year.
In contrast, margins at Tata Motors' Jaguar Land Rover unit for the June quarter grew to 16.5%. Net profit at JLR jumped 28.8 per cent to GBP 304 million against GBP 236 million.
Lupin's first quarter (April-June) net profit grew higher-than-expected 43% year-on-year to Rs 401 crore, but revenues rose below estimates 10% on yearly basis to Rs 2,476 crore.
Tata Power, which was the top loser with 15% loss in previous session on poor Q1 earnings, bounced back with 7% gains.
Among the sectoral indices CNX Realty surged by 5.58% followed by CNX PSU Bank (3.76%) and CNX Metal (3.15%) while CNX Auto was the biggest loser plunging -1.41%.
Out of 50 stocks of Nifty 25 stocks ended in positive terrain while 25 stocks in negative.
Top 5 Nifty gainers: Tata Motors (7.70%), DLF (6.79%), BPCL (6.12%), NDMC (5.43%) and Ranbaxy (5.24%) were among the top Nifty gainers.
Top 5 Nifty losers: LUPIN (-7.26%), HCL (-4.67%), HDFC (-3.46%), Sun Pharma (-3.01%) and Asian Paints (-2.82%) were top laggards.
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