Index Trends And Stocks In Action August 13, 2014
DSIJ Intelligence / 13 Aug 2014
Going forward Nifty has strong resistance in zone of 7760-7785. On downside important support for the index is placed around levels of 7670 and next support is placed around 7610.
Indian Equity market extended its gains for the second consecutive trading session on back of some upbeat corporate earnings reports and expectations that crude oil prices will decline on the back of a downward revision in crude oil demand forecast by the international Energy Agency contributed to the up move.
Yesterday’s up move was supported by all the sectoral indices. Even the broader market ended with smart gains. Going forward Nifty has strong resistance in zone of 7760-7785. On downside important support for the index is placed around levels of 7670 and next support is placed around 7610.
Natco Pharma (BSE Code: 524816) net profit increased 54% at Rs 33.5 crore in the first quarter ended June 30, 2014 compared to Rs 21.8 crore in the year-ago period. The total revenue of the Hyderabad - based company rose 20% to Rs 211 crore (Rs 176 crore). The growth was driven by increase in sales of both bulk chemicals and formulations. The stock may trade with a positive bias in today’s trade backed by better numbers.
Indian Oil Corporation (BSE Code: 530965) will invest around Rs 8,700 crores in the Mathura refinery expansion project which would lead to speedy development of the Mathura-Agra region besides creating job opportunities. IOC will invest Rs 8,700 crores for the Mathura refinery extension project under which the oil refining capacity would be enhanced from the existing 8 lakh metric tonnes to 11 lakh metric tonnes and it would provide employment opportunities to some 10 thousand youths. The stock may remain in focus in today’s trade.
IT firm Mindtree (BSE Code: 532819) has bagged a multi-year, great Britain pound (GBP) 25 million (over Rs 250 crore) deal from BBC to test a range of its digital products. The stock may witness buying activity in today’s trade.
FMCG company Britannia Industries (BSE Code: 500825) is planning a capital expenditure between Rs 150 crore and Rs 200 crore over the next two years. The management said that the capital expenditure would be made on two counts - upgradation and innovation and for creating new capacities. The company was also willing to have a good market share in the SAARC countries. The stock may remain in limelight in today’s trade.
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