Friday, 25 November 2016

Sensex Above 26000, Up Over 250pts; ICICI, L&T, SBI Underperform

Equity benchmarks extended rally with the Sensex rising 287.04 points or 1.11 percent to 26147.21 and the Nifty climbing 102.45 points or 1.29 percent to 8067.95. About 1845 shares advanced against 528 declining shares on the BSE. Suven Life reported a flat set of numbers for the second quarter ended September 30. Profits were up 5.3 percent to Rs 26.5 crore versus Rs 25.2 crore reported same quarter last fiscal but revenues were down 1.2 percent at Rs 11.5 crore versus Rs 117 crore year on year. Defending the revenue numbers, Venkat Jasti, Chairman and CEO, Suven Life Sciences told CNBC-TV18 that their numbers should not be compared quarter on quarter because the CRAMS is a lumpy business. Actually, the revenues were up, he said.

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