Indian shares fall to new 2013 lows; Dr. Reddy's, tech stocks hit
MUMBAI Feb 15 (Reuters) - Indian shares fell on Friday to their lowest levels in 2013 as Dr. Reddy's shares retreated a day after reporting a larger-than-expected fall in quarterly earnings, while software service exporters fell on profit-booking.
However, Tata Motors provisionally rose 2.5 percent, recovering from an earlier fall of as much as 3.1 percent, as traders saw initial losses - sparked by a drop in quarterly earnings - as overdone given expectations for a recovery in profits.
Dr. Reddy's Laboratories provisionally fell 3.2 percent, while Infosys Ltd ended down 1.2 percent.
The BSE index provisionally fell 0.32 percent to its lowest close since Dec. 31, 2012.
The 50-share NSE index ended fell 0.34 percent. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
U.S. President Barack Obama watched a dazzling parade of India's military might and cultural diversity on Monday, the second day of a visit trumpeted as a chance to establish a robust strategic partnership between the world's two largest democracies. Full Article
Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll. Full Article