Tata Consultancy Services (TCS) share price fell in early trade today after the IT firm's Q2 net profit and revenue growth missed estimates. This is the second successive quarter when the IT major has missed estimates in terms of both revenue and margin. TCS share price fell up to 3.56% to Rs 1,933 compared to the previous close of Rs 2,004.40 on BSE.TCS share price falls over 3% after Q2 earnings miss estimates
Cipla share price falls over 7% in early trade today after USFDA issued form 483 for the Goa manufacturing facility of the firm. Cipla share price fell up to 7.74% to Rs 389.55 compared to the previous close of Rs 422.25 on BSE.
The observations assume significance since the firm's Goa unit generates 25 to 30% of US business.
The observations say facility will require very extensive change in standard operating procedures, and processes which could require a bit longer for the company to resolve issues.Cipla share price loses over 7% on fears of USFDA action against Goa unit
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5% after Trump said he would meet with Chinese Vice Premier Liu He, as the White House said trade talks between the two countries on Thursday went “probably better than expected.”
“After a little bit of negativity, fresh build up is helping stocks,” said Anand James, Chief Market Strategist at Geojit Financial Services in Kochi.
“The market believes that at least some of the sectors will see some positivity, especially after the corporate tax rate-cut.”(Reuters)
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