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BW Businessworld

Sensex Falls; Losses In RIL, Infosys Weigh

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The Sensex is down 0.41 per cent and the Nifty falls 0.54 per cent. Tata Motors shares down 0.3 per cent after falling around 3 per cent earlier, a day after the company said its October-December earnings fell 52 per cent to $303 million.

Reliance Industries was down 1.57 per cent while Infosys was trading 0.8 per cent lower at 1:03 p.m.

Shares in DLF Ltd are down 4 per cent a day after India's largest listed real estate developer reported a net profit of Rs 285 crore, which missed market expectations.

Dr Reddy's Laboratories, India's No.2 drugmaker by sales, reported a larger-than-expected 29.2 per cent drop in quarterly net profit as sales in its key North America market remained muted.

Bank of America Merrill Lynch downgraded its rating on Dr Reddy's Laboratories Ltd to "neutral" from "buy". The shares were down 2 per cent at Rs 1836.10.

With Q3 earnings season almost over, traders speculate over whether the budget would be populist or pragmatic, in the backdrop of increasing deficit.

(Reuters)