Equity benchmarks were extremely choppy in early trade on Thursday - the Nifty was hovering around the 5550 level. Oil & gas, financial and capital goods companies' shares were supporting the markets. However, cement, healthcare, FMCG, telecom and select technology stocks were pulling the markets down.
Bharti Airtel plunged 4% as India's largest telecom operator has reported fourth quarter FY11 net profit of Rs 1,401 crore on consolidated basis as against street expectations of Rs 1,740 crore, up 7.5% versus Rs 1,303 crore on QoQ basis.
Ranbaxy Labs lost 8% in initial trade after Goldman Sachs said there would be potential fine of USD 1 billion to settle FDA charges relating to Lipitor.
Bharti Airtel plunged 4% as India's largest telecom operator has reported fourth quarter FY11 net profit of Rs 1,401 crore on consolidated basis as against street expectations of Rs 1,740 crore, up 7.5% versus Rs 1,303 crore on QoQ basis.
Ranbaxy Labs lost 8% in initial trade after Goldman Sachs said there would be potential fine of USD 1 billion to settle FDA charges relating to Lipitor.
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