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Government sold Rs 8,000 crore or one billion-dollar worth of securities, including Rs 4,000 crore each of five and ten-year notes.
The 10-year bond got priced at a coupon of 7.29%, compared with a 7.31% estimate in a Bloomberg survey.
The five-year bond was sold at a cut-off yield of 7.10% vs 7.13% as per the Bloomberg estimate.
This was the first tranche of two from which the central government aims to raise a total Rs 16,000 crore within a month.
Source: Bloomberg, RBI press release
The broader market indices were trading lower; S&P BSE MidCap was down 1.29%, whereas S&P BSE SmallCap was lower by 0.86%.
All the 20 sectors compiled by BSE declined, except only S&P BSE Metals advanced in trade.
The market breadth was skewed in favour of the bears. About 901 rose, 2,460 declined, 112 remained unchanged on the BSE.
Net sales of $139.2 million, line with the same quarter in the previous fiscal.
Continue to experience price pressures particularly in the U.S. generic business.
Gross profit of $64 million, 46% of net sales compared to $76.0 million, 54.7% of net sales.
Research and development expenses at $12.9 million compared to $1.3 million.
Selling, marketing, general and administrative expenses (SG&A) of $49.9 million increased to $25.0 million.
Operating income of $1.3 million compared to operating income of $37.0 million. The current year quarter operating result is primarily attributable to the aforementioned price erosion, as well as the on-going impact associated with our recent acquisition.
Source: Company filing
The broader market indices were trading lower; S&P BSE MidCap was down 0.51%, whereas S&P BSE SmallCap was lower by 0.23%.
Seventeen out of the 19 sectors compiled by BSE declined, while only S&P BSE Auto and S&P BSE Metals advanced in trade.
The market breadth was skewed in favour of the bears. About 1,078 rose, 1,359 declined, 129 remained unchanged on the BSE.
The yield on the 10-year bond opened largely flat at 7.34% on Wednesday.
Source: Bloomberg
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