Index Trends And Stocks In Action October 13, 2014

The Indian market ended lower on back of weak global cues. Infosys emerged as silver line in dark clouds and surged as much as 6 per cent, beating market expectations.  However alone it was unable to improve the sentiment. On weekly chart nifty is continuing its sequence of lower top lower bottom and this pattern is bearish pattern. Bulls once again have been pushed to lower end of the range which is around 7800-7820. Now going forward if this support level is breached on closing basis, nifty index will enter downtrend for medium term. For day trading important support will be 7800. On upside 7890-7920 will act as resistance.

Diamond Power Infrastructure (BSE Code: 522163) has posted 29% higher net profit at Rs 40 crore in Q2 FY15 on Y-o-Y basis. The company’s net sales increased to Rs 896 crore during the quarter against Rs 666 crore in the same period last year. For the half year period, company’s net profits were up by 18% to Rs 77 crore against Rs 65 crore last year. Net income increased to Rs 1,700 crore for the half-year period against Rs 1,242 crore reported last year. The stock may remain in focus in today’s trade.

Pfizer (BSE Code: 500680) has received a patent for its antifungal drug Voriconazole, which it is selling in US under the brand name Vfend, overcoming opposition filed by companies including Ranbaxy Labs Ltd and Natco Pharma. The application titled as "Pharmaceutical formulations containing Voriconazole", which is for a pharmaceutical formulation comprising of anti fungal agent voriconazole which has been lyophilised to improve its stability in water. The stock may remain in focus in today’s trade.

Netowrk18 Media and Investments (BSE Code: 532798) has reduced net loss in Q2 FY15 to Rs 14.8 crore from Rs 16.9 crore last year. The company’s total revneue for the quarter ended 30 September stood at Rs 744.8 crore, up 11.2% from Rs 669.8 crore in Q2 FY14. The stock may remain in focus in today’s trade.

Reliance Industries (BSE Code: 500325) is looking to sell its 45% stake in the Eagle Ford basin shale oil and gas venture in the US for an estimated USD 4.5 billion which bought at USD 1.3 billion. RIL, in a July presentation to investors, had said it has invested USD 3.91 billion in the Pioneer joint venture since inception. 472 wells have been drilled to date with an average production rate of 676 million standard cubic feet per day. RIL is also to declare its Q2FY15 earnings on Today. The stock may remain in focus in today’s trade.