Indian shares opened on a flat note Thursday after six days of strong gains.
The benchmark S&P BSE Sensex slid 92 points to 34,017 in early trade, while the broader NSE Nifty index was down 2 points at 10,060.
Aurobindo Pharma rallied almost 5 percent on reporting a 45 percent jump in consolidated net profit for the quarter ended March 31, 2020.
Reliance Industries rose half a percent after completing the nation's biggest-ever rights issue.
BPCL edged down slightly as it reported a consolidated loss of Rs. 1,819.6 crore for the March quarter on inventory loss and lower gross refining margin.
Tata Steel gained 0.7 percent on news it would raise Rs 400 crore through a debt issue.
Oil India declined half a percent. The company said it has engaged a Singapore-based company to manage Assam well blowout.
HUDCO was moving lower after Moody's downgraded its ratings.
DCM Shriram tumbled 3.6 percent as it reported a 29 percent drop in quarterly profit.
Cholamandalam Investment and Finance lost 2.7 percent after its quarterly profit plunged 85 percent from last year.
NIIT and Jyothi Labs were modestly higher ahead of their quarterly results.
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