Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Biocon shares slump on earnings disappointment

Jan 23 2014, 18:19 IST
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Biocon said its December-quarter consolidated net profit rose 14 percent to 1.05 billion rupees. Reuters Biocon said its December-quarter consolidated net profit rose 14 percent to 1.05 billion rupees. Reuters
SummaryShares in India's Biocon Ltd slump 5 percent after earnings disappointed some investors.

Shares in India's Biocon Ltd slump 5 percent after earnings disappointed some investors.

Biocon said on Wednesday its December-quarter consolidated net profit rose 14 percent to 1.05 billion rupees ($16.98 million).

Some analysts cited disappointment over operating margins, with Kotak Institutional Equities expressing concerns about research and development margins.

"R&D margin at 2.9 percent is the lowest in the past several quarters, which raises concerns on sustainability of the margin improvement," it said in a report.

Investors are also locking profits after the stock jumped 8.5 percent in the previous three sessions.

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