February 15, 2013 / 4:59 AM / 5 years ago

MARKET EYE-Indian shares fall; Tata Motors, DLF, Dr Reddy's hit

* The BSE index is down 0.38 percent and the 50-share
NSE index falls 0.45 percent.  
* Tata Motors shares fall 1.5 percent a day after the
company said its October-December earnings fell 52 percent to
$303 million. 
* Shares in DLF Ltd fell as much as 3.6 percent a day
after India's largest listed real estate developer reported a
net profit of 2.85 billion rupees, which missed market
expectations. 
* Dr. Reddy's Laboratories , India's No.2
drugmaker by sales, reported a larger-than-expected 29.2 percent
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 1.95 percent at 1837.85 rupees. 
* With Q3 earnings season almost over, traders speculate over
whether the budget would be populist or pragmatic, in the
backdrop of increasing deficit.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below