On a lacklustre day of trading, shares of information technology (IT) companies were trading with minor losses while Tata Motors gained more than 4 percent despite posting a fall in June quarter net profit.
Wipro shares hit a new 52-week low of Rs. 478.50 apiece on the BSE on Monday but recovered later to trade at Rs. 482.10 at around 12.04 p.m. The earlier 52-week low for the Bengaluru-based IT services exporter was Rs. 488 recorded last Friday.
Infosys was down 0.27 percent at Rs. 1,018 while TCS was trading 1.65 percent lower at Rs. 2,487.50. The BSE IT index was down 0.99 percent at 10,288.
Welspun India shares touched a new 52-week low of Rs. 49.15 while Glaxosmithkline Pharma shares plunged to a fresh one-year low of Rs. 2,970 before recovering to Rs. 2,992.95.
The BSE Sensex was up 16 points at 27,798 while the NSE Nifty was trading with gains of 5 points at 8,578.
Tata Motors shares gained more than 4 percent and were trading at Rs. 524.75, up 4.19 percent.
Tata Motors reported a 57 percent fall in consolidated net profit for the first quarter (Q1) ended June 30, 2016 as a result of massive forex loss of Rs. 2,236 crore due to Brexit.
The company's Q1 net profit stood at Rs. 2,236 crore despite a Rs. 478 crore one-time gain. Tata Motors had posted a net profit of Rs. 5,231 crore in the corresponding period last year.
The company's revenues rose to Rs. 67,056 crore in Q1 from Rs. 61,510 crore in the year-ago period.
"Higher volumes in both standalone as well as Jaguar Land Rover business more than offset by the adverse FX impact of Rs. 2,296 crores and adverse commodity derivatives impact of Rs. 167 crores in the operating profit mainly in the Jaguar Land Rover business, lower local market incentive in the Jaguar Land Rover business, as compared to the corresponding quarter last year and higher depreciation and amortization expenses as compared to the corresponding quarter last year," the company said in a statement.
