Nifty remains below 8800; Lupin, Bank of India gains post Q3 nos

Epic Research Update : Bank of India

Epic Research Update : Bank of India

Benchmark indices remained rangebound in afternoon trade, with the Nifty gyrating in band of 8750-8800 levels as investors are on sidelines ahead of corporate earnings.

The 30-share BSE Sensex rose 36.05 points to 28325.97 and the 50-share NSE Nifty gained 6.85 points at 8775.90.

India’s third largest drug maker by sales Lupin gained more than 1 percent after posting a 21 percent increase in its net profit to Rs 633 crore for the third quarter ended December, beating analysts’ estimates on back of strong US generic sales.

Bank of India shares climbed 2 percent as the bank has turned profitable in October-December quarter, with net income at Rs 101.7 crore against loss of Rs 1,505 crore in year-ago period on account of fall in provisions and sharp jump in other income & operating profit.

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