Index Trends And Stocks In Action For August 06, 2014

Indian Equity market ended with smart gains after the Reserve Bank of India as expected left key interest rates unchanged in its third bi-monthly monetary policy review for the fiscal 2014-15. Healthy buying was observed in automobile, metal, consumer durables, healthcare, realty and banking stocks. On other hand Capitals goods stocks were under selling pressure. The Nifty index continues to march upward and has managed to close well above its supply zone of 7710-7730 level.  Now going ahead Nifty index will face resistance in range of 7780-7810 on upsides. In case, of profit taking, the index should find support around 7710-7680 zone.

State run power producer NTPC (BSE Code: 532555) has inked an agreement with Assam Power Distribution Company for selling 75 MW of electricity to the state. NTPC signed supplementary power purchase agreement with Assam Power Distribution Company Ltd (APDCL) for supply of 75 MW power. The power will be supplied to Assam from NTPC's Farakka Super Thermal Power Station Stage-III. The stock may remain in action in today’s trade.

IL&FS Engineering and Construction Company (BSE Code: 532907) has bagged Rs 105 crore contract from Lodha Group for civil construction work of proposed residential buildings in Mumbai. IL&FS Engineering and Construction Company Ltd has received Letter of Intent (LoI) from the Lodha Group for civil construction works of proposed residential buildings in phase II of Palava, Khoni village near Dombivli in Mumbai. The stock may trade with a positive bias in today’s trade. 

Plastics and textiles player, Sintex Industries (BSE Code: 502742) has registered 24% growth in the standalone net profit for the first quarter ended June 2014. On the standalone basis company's net profit increased to Rs. 51 crore against Rs. 41 crore reported in the corresponding quarter last year. Net sales increased to Rs. 761 crore from Rs. 615 crore last year. On consolidated basis, company posted net profit of Rs. 62 crore for the quarter under review against Rs. 47 crore in the same quarter last year. The net sales increased to Rs. 1,341 crore from Rs. 1,124 crore last year. The company informed that the infra segment posted robust 84 per cent growth (year-on-year) for the quarter ended June 2014 to Rs. 11 crore against Rs. 6 crore posted in the same quarter last year. The stock may witness buying activity backed by better numbers in today trade.