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Stock Rise After Earning Beat, Stock update first Afternoon hrs

Indian bio-pharmaceutical company Biocon Limited continue rise over 5 percent during first afternoon on Friday, after the company announced its Q1FY19 consolidated net profit, reporting 47.23% rise on year on year basis to Rs. 119.70 crore.  Biocon was the top percentage gainer on the Nifty Pharma constituent. The stock had gone up 3.9% this year since last close, outperforming the Nifty Pharma index’s 6.5% fall.  The stock price at this moment is quoting at Rs. 584.55 up 4.71 percent on the NSE during Friday, post lunch hours.

Meanwhile, Jubilant Industries and Yes Bank traded near flat after their results were announced. Jubilant Industries reported a standalone net profit rise of 213.3% year on year to Rs. 74.7 crore in Q1FY19.

Jubilant Industries’ share price is currently at Rs133.00, down by 0.82%, from its previous close of Rs134.10 on the BSE.

Yes Bank also announced its Q1FY19 standalone net profit which is improved by 30.5 percent year on year to Rs. 1,260 crore. Yes Bank share price is currently at Rs.370.25, down 0.18%, from its previous close of Rs.369.60 on the BSE.

Shares of ITC Limited from the FMCG sector zooms over 5 percent at this moment, after the company posted strong Q1 results on Thursday. ITC which holds 5.38% in Nifty50 and 41.8% in Nifty FMCG index has dragged both the indices up by 0.7 and 3 per cent, respectively.  ITC stock was trading up at Rs. 302.50 per share, up Rs. 15.35 or 5.35 percent during the day