Indian markets end higher for third-straight day; TCS reports 11% rise in Q3

Shares of Bajaj Corp rose after the company reported 17.19% jump in its financial results for the quarter ended on December 31.

At 1438 hours the shares of the company were trading at Rs 380 per piece, up 2.30%, or Rs 8.55 on BSE.

The company registered a net profit of Rs 57.79 crore during the third quarter of current fiscal as against Rs 49.31 crore during the same period last year.

Shares of Cyient Limited surged 4% after the company reported 14% rise in its financial results for the quarter ended on December 31.

At 1429 hours the shares of the company were trading at Rs 512 per piece, up 4.04%, or Rs 19.90 on BSE. 

The company registered a net profit of Rs 94.16 crore during the quarter ended on December 31 as against Rs 82.74 crore during the same period last year. 

Sector-wise, on BSE, IT and Capital Goods shares were top gainers with 111.75 points and 182.08 points, respectively. While Healthcare (-146.83 points) and Auto (-72.21 points) shares were top losers. 

Shares of NTPC jumped by 5% after the company signed  a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam Limited and Rajasthan Urja Vikas Nigam Limited for take-over of Chhabra Thermal Power Plant Stage-I (4x 250 MW) and Stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam by NTPC Ltd.

At 1250 hours the shares of the company were trading at Rs 172.30 per piece, up 4.81%, or Rs 7.90 on BSE. 

Shares of Eros International Media surged on Thursday after the company announced its plan to produce over 50 films across multiple languages, making it the largest slate by any Indian studio this year. 

At 1239 hours the shares of the company were trading at Rs 178.55 per piece, up 2.20%, or Rs 3.85 on BSE. 

Shares of Power Grid Corporation of India climbed over 4% after the company teamed up with ABB India for Rs 4,350 crore deal on Tuesday.

At 1204 hours shares of the Power Grid were trading at Rs 197.45 per piece, up 4.06%, or Rs 7.70 on BSE. 

Shares of Bharti Airtel dropped marginally as the company's subsidiary, Airtel Payments Bank, will be launching its payment bank today.

At 1119 hours the shares of the company were trading at Rs 321.70 per piece, down 0.36%, or Rs 1.15 on BSE. 

Shares of Biocon climbed over 3% after the company on Wednesday announced that the US Food and Drug Administration (FDA) has accepted Mylan's biologics license application (BLA) for MYL-14010, a product which is indicated to treat certain HER2-positive breast cancers.

At 1051 hours the shares of Biocon were trading at Rs 1036.10 per piece, up 3.42%, or Rs 34.25 on BSE. 

Shares of Bajaj Corp were trading up by 1% as the company will be announcing its financial results for the quarter ended on December 31.

At 1039 hours the shares of the company were trading at Rs 375 per piece, up 0.96%, or Rs 3.55 on BSE.

Shares of Tata Consultancy Services was trading flat ahead for its financial results for the quarter ended on December 31.

At 1016 hours, the shares of the company were trading at Rs 2324, up 0.04%, or Rs 0.95.

In the last quarter (Q2FY17), TCS had beat the estimates by reporting a net profit of Rs 6586 crore, up 4.3% quarter on quarter basis. The company's consolidated net profit stood at Rs 6,603 crore for the quarter ended on September 30, a jump of 8.3%, as against Rs 6,093 crore during the same period last year. 

The rupee recovered by 22 paise to 68.10 against the US dollar in early trade on Thursday on fresh selling of the American currency by exporters.

On Wednesday, the rupee had lost 14 paise to close at 68.32 per dollar in the face of a bullish greenback overseas.

Stocks in Focus: Bajaj Corp, Tata Consultancy Services, Infosys, Bharti Airtel and Pharma shares.

On 30-share benchmark, among top gainers were Infosys (2.13%), Power Grid (1.55%), ONGC (1.06%), HDFC (0.98%) and TCS (0.84%). Among losers were Sun Pharma (-1.98%), Dr Reddy's Lab (-1.95%), Cipla (-1.32%), ITC (-0.89%) and Tata Steel (-0.61%).

Sector-wise, Healthcare stocks plunged 187.35 points during morning trade after President-elect Donald Trump on Wednesday attacked US companies who ship jobs offshore, singling out the pharmaceutical industry for high drug prices and for manufacturing overseas, as reported by AFP. 

Among pharma stocks, top gainers were Biocon (4.45%), Syngene International (1.69%), Apollo Hospital (0.43%). Among losers were Alkem (-1.17%), Sun Pharma (-2.04%), Cadila Healthcare (-2.39%), Dr Reddy's Lab (-1.69%), WockPharma (-2.04%).

Domestic markets remain bullish for third-straight day. At 0919 hours, Sensex was trading at 27,196.12, up 55.71 points, or 0.21%. While, Nifty was trading at 8,390.35, up 9.70 points, or 0.12%.