January 30, 2020
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Sensex Falls; Cipla, Coal India Down After Earnings
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BW Online Bureau
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The BSE Sensex fell 0.46 per cent, while the broader Nifty was down 0.55 per cent.
Shares of Cipla fell as much as 6.02 per cent after the company's December-quarter profit dropped by 16.5 per cent to Rs 284 crore, lagging some analysts' estimates.
Company's operational margins for December-quarter at 18.1 per cent were lowest in nearly 11 quarters, weighed down by higher research and development expenditure and staff costs, analysts say.
Cipla shares were trading down 3.3 per cent at 9.24 a.m.
Coal India Ltd, the world's largest coal miner by output, wss trading 2.15 per cent lower after its December quarter earnings fell short of expectations.
Overseas investors bought Indian shares worth Rs 212 crore on Wednesday (12 February), snapping their nine-day selling streak in the secondary share market, exchange data showed.
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