Dhanlaxmi Bank Q3 results were announced on Friday with the bank's net profit coming in at Rs 16.9 crore against loss of Rs 21.7 crore. NII was up 8.9 percent at Rs 91.2 crore against Rs 83.7 crore, YoY. Shares traded 1.9 percent lower at Rs 18.05 on the NSE at 2pm. Meanwhile, the Nifty traded at 10,908, up by just 2.65 points. The Sensex was up by 21.50 points at 36,395.58 at 2.05 pm.

Shares of Shilpa Medicare touched their one-month high of Rs 409 after the company said it has received the US Food and Drug Administration's approval to launch the generic version of Novartis Pharmaceuticals Corp's anti-cancer drug Gleevec. Gleevec brand and generics had sales of around $868 million in the US in the year ended July 2018. It is used in the treatment of leukemia.

Shares of Bharti Airtel and Vodafone Idea tanked on Friday as rival Reliance Jio Infocomm's comments that its focus remains on increasing subscriber base sparked fears that price aggression in the sector may not be over, market participants said. Reliance Jio's "relentless" focus is on digitising India, with the vision of connecting the country "at the highest quality and the most affordable price", Chairman and Managing Director Mukesh Ambani was quoted as saying in the company's earnings press release. Other telecom companies' earnings and profitability have been marred due to RJio's price aggressive data and voice plans over the past three years, as more and more Indians switch providers. At noon, shares of Bharti Airtel were down 5.7 percent at Rs 313.25. Vodafone Idea was down 5.3 percent at Rs 35, after hitting a one-month low of Rs 34.55 earlier today. (Cogencis)

Shares of Cyient were down around 8 percent as investors turned wary of the stock after December quarter results’ announcement. The company’s profit has fallen 27 percent to Rs 92.3 crore, while revenue remain unchanged at Rs 1,187.7 crore quarter on quarter. The company, which was supposed to consider buyback, will do so at a later date. Shares traded at Rs 599.75, lower by 4.72 percent on the NSE at 1.29 am. The Nifty was at 10,878.40, down by 26.80,  or 0.25 percent. The Sensex was lower by 71 points, or 0.19 percent, to trade at 36,303.

Shares of Rallis India fell 6 percent as investors reacted to the results for December quarter. The company’s net profit fell 45 percent, while operating profit declined by 27 percent.

Shares of Sun Pharmaceutical Industries plunged 13 percent to hit their six-year low of Rs 370.20 after report of fresh allegation of corporate malpractices at the company hit sentiment. An investigative report by Moneylife magazine stated a fresh complaint by a whistleblower has been filed against the company with SEBI. Analysts said Aditya Medisales, the superdistributor of Sun Pharmaceutical, had invested in the real estate sector through Suraksha Realty, which is controlled by co-promoter Sudhir Valia even though the company had denied any such investments earlier. In December, shares of the company had plummeted after a note allegedly circulated by brokerage firm Macquarie brought to light various corporate misgovernance issues at the country's leading drug company. At 9.55 am, shares of Sun Pharmaceutical fell 11.2 percent to Rs 378.65. (Cogencis)