Nifty eyes 10,400, Midcap continues to outperform; Lupin up 8%

Lupin share price rallied nearly 8 percent after better-than-expected earnings for quarter ended September 2017.

Consolidated profit stood at Rs 455 crore (down 31.3 percent YoY) for the quarter on revenue of Rs 3,952 crore (down 7.9 percent YoY), against a CNBC-TV18 poll estimates of Rs 404 crore on revenue of Rs 3,984 crore, respectively.

Operating profit for the quarter came in at Rs 853 crore (down 17.2 percent YoY) and margin at 21.6 percent (contraction of 240 basis points YoY) against CNBC-TV18 poll estimates of Rs 791 crore and 19.9 percent, respectively.

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