Shares of IT major Infosys gained 8.97 per cent in intraday trade on Tuesday. The company reported a 1.97 per cent quarter-on-quarter (QoQ) fall in consolidated net profit at Rs 3,030 crore for the June quarter. The IT firm had reported a net profit of Rs 3,091 crore in the preceding quarter.
Shares in India's Sun Pharmaceutical Industries slumped 16 percent, heading towards their biggest daily fall ever, after the drugmaker on Monday said it sees 2016 sales flat at best.
Analysts say results warning can cut FY16 consensus earnings estimates by 8-10 percent as company struggles to fix manufacturing problems at Ranbaxy Laboratories, which it bought last year.
The market has slipped into red. The Sensex is down 51.61 points at 28368.51, and the Nifty is down 13.40 points at 8590.05. About 695 shares have advanced, 574 shares declined, and 90 shares are unchanged.
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