* NSE index down 0.19 pct, BSE down 0.2 pct
* Market to consolidate for a week - analyst
By Tanvi Mehta
Feb 15 Indian shares fell on Wednesday, with
Tata Motors and Sun Pharmaceutical Industries
weighing on the indexes after posting disappointing results.
Tata Motors fell as much as 8.6 percent to its lowest since
Dec 7, 2016 after the automaker on Tuesday reported a
worse-than-expected 96 percent fall in December-quarter profit,
citing sharply lower earnings at Jaguar Land Rover (JLR) and
losses in its domestic business.
Sun Pharmaceutical fell as much as 3.4 percent after
reporting its first fall in quarterly profits in a year on
Tuesday, as pricing issues and supply constraints affected sales
in the U.S. - its largest market.
"We will see a drop-curtain on earnings; not been negative
but in line, in some cases better ... We are in a consolidation
market for the next week and a half," said Gaurang Shah, Vice
President, Geojit Financial Services.
The broader NSE index was down 0.19 percent at
8,775.80 as of 0536 GMT, with Tata Motors shaving 19 points off
The benchmark BSE index was 0.2 percent lower at
Nifty Auto index was down 1.64 percent, having
risen 7.4 percent this year up to Tuesday's close.
Nifty Pharma index was down 1.3 percent, led by
Sun Pharma and Glenmark Pharmaceuticals, down 1.9
The Indian government's demonetisation move has hit
quarterly results of some companies such as DLF Ltd and
SpiceJet which reported a fall in December-quarter
profit on Tuesday.
Shares of DLF were down 4.3 percent while SpiceJet fell 6.8
(Reporting by Tanvi Mehta in Bengaluru; Editing by Vyas Mohan)