Sensex Trades Flat; Pharma, Oil & Gas Stocks Drag

Share markets in India are presently trading on a flat note. Sectoral indices are trading mixed with stocks in the realty sector, metal sector and power sector witnessing maximum buying interest while healthcare stocks and auto stocks are witnessing selling pressure.

The BSE Sensex is trading down by 54 points (down 0.1%), while the NSE Nifty is trading down by 18 points (down 0.2%). The BSE Mid Cap index is trading up 0.5% and the BSE Small Cap index is trading up by 0.3%.

The rupee is trading at Rs 70.24 against the US$.

In the news from the aviation space, Jet Airways share price is witnessing buying interest today on reports over revival steps.

The company is reworking its international network, cutting down unviable flights and adding new ones where it hopes to make money as the cash-strapped carrier tries to revive its fortunes while simultaneously seeking a cash infusion to keep itself afloat.

The company's financial woes have worsened by rising crude oil prices and intense pricing competition in the domestic aviation industry.

The company has been going through severe financial crush since last year. It has suffered three consecutive quarterly losses and is currently trying hard to make its turnaround plan aimed at reducing operational costs.

Jet Airways share price is presently trading up by 0.7%.

To know more about the company, you can access to Jet Airways' latest result analysis and Jet Airways' 2017-18 Annual Report Analysis on our website.

Moving on to the news from the pharma space, Sun Pharma share price plunged around 10% in early trade today, hitting a six-month low after various allegations of mis governance and insider trading.

Last Tuesday, a note by Macquarie, an Australian brokerage firm went viral which raised concerns among the investing community.

The note raised questions about inadequate disclosures regarding the role of promoter Dilip Shanghvi's brother-in-law Sudhir Valia, Sun Pharma's past links with banned traders Ketan Parekh and Dharmesh Doshi, related party transactions involving promoter Shanghvi and guarantees given to real estate firm Suraksha Realty.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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