Sensex, Nifty off record highs; ICICI Bank, RIL, Lupin drag
Equity benchmarks opened at fresh record high on last day of the week, backed by banks, metals and telecom stocks.
The 30-share BSE Sensex was up 88.97 points at 33,662.19 and the 50-share NSE Nifty rose 26.20 points to 10,450.
About 915 shares advanced against 290 declining shares on the BSE. Nifty Bank was up 115 points.
Hindalco rallied 2 percent after strong Novelis numbers. Vedanta gained a percent post earnings.
Axis Bank, Yes Bank, SBI, Aurobindo Pharma and Lupin were early gainers.
PNB, Tata Power, PFC and Titan Company were up around a percent ahead of earnings later today.
The rupee was up 3 paise at 64.57 against the dollar in morning trade today, helped by stronger domestic equities.
"The Income Tax authorities are conducting a routine verification of books of accounts of the company and its subsidiaries from November 2, 2017," Brigade said.
"We are extending full co-operation and assistance for this verification,”
Shares of Lupin gained 1 percent in morning on the back of launch of Doxycycline tablets in the US market.
The company has launched Doxycycline Hyclate tablets USP, 75 mg and 150 mg in the US market after receiving approval from United States Food and Drug Administration (USFDA).
Lupin’s Doxycycline Hyclate Tablets USP, 75 mg and 150 mg are the AB rated generic equivalent of Aqua Pharmaceuticals, LLC’s Acticlate Tablets, 75 mg and 150 mg.
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