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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  HDFC Bank Limited    HDFCBANK   INE040A01034


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Indian shares end lower as banks drop; pharma shines

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09/18/2020 | 07:51am EDT

BENGALURU, Sept 18 (Reuters) - Indian shares gave up early gains to end lower on Friday as banking stocks fell in afternoon trading, with HDFC Bank closing at a month's low, although a jump in pharma stocks capped losses on the Nifty.

The blue-chip NSE Nifty 50 index closed 0.1% lower at 11,504.95, while the benchmark S&P BSE Sensex, which has fewer pharma components, ended down 0.34% at 38,845.82.

The Nifty ended the week 0.4% higher, while the Sensex closed a tad lower.

The Nifty Bank Index finished 1.3% lower at its worst closing level in a month, capping its third straight week of losses, dragged by a 2.4% slide in top private-sector lender HDFC Bank.

The Nifty Pharma index clocked its best day since Aug. 10, closing up 5%, as drugmaker Dr.Reddy's Laboratories Ltd added 10.5% to close at a record high.

The pharmaceutical firm settled a patent litigation with U.S. drugmaker Bristol-Myers Squibb Co over the cancer treatment Revlimid, prompting analyst upgrades to its stock.

Drugmakers Lupin Ltd and Cipla Ltd jumped 4.7% and 7.3%, respectively, after U.S.-listed Perrigo Company Plc issued a U.S. nationwide recall of its albuterol sulfate inhalation aerosol product due to complaints of clogging issues.

Cipla and Lupin have their own versions of the aerosol product approved by the U.S. FDA.

Investor sentiment in broader markets was also tepid on worries over a resurgence in coronavirus cases and disappointment that central banks merely affirmed their monetary support this week, without promising new stimulus. (Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Ramakrishnan M.)

Stocks mentioned in the article
ChangeLast1st jan.
CIPLA LIMITED 0.01% 757.55 Delayed Quote.58.42%
DR. REDDY'S LABORATORIES LIMITED -0.15% 5015.9 End-of-day quote.74.34%
HDFC BANK LIMITED 0.20% 1235.8 End-of-day quote.-2.85%
LUPIN LIMITED -0.20% 990.75 End-of-day quote.29.53%
NIFTY 50 0.29% 11930.35 Delayed Quote.-1.96%
NIFTY BANK -0.02% 24478.3 Delayed Quote.-23.89%
SENSEX 30 0.31% 40685.5 Real-time Quote.-1.38%
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Sales 2021 883 B 11 957 M 11 957 M
Net income 2021 285 B 3 858 M 3 858 M
Net Debt 2021 - - -
P/E ratio 2021 23,9x
Yield 2021 0,78%
Capitalization 6 801 B 92 134 M 92 112 M
Capi. / Sales 2021 7,70x
Capi. / Sales 2022 6,76x
Nbr of Employees 69 065
Free-Float 83,3%
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Srinivasan Vaidyanathan Chief Financial Officer
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