Index Trends And Stocks In Action November 11, 2014

The Indian market opened on positive note and surged to record high in first half of trading session; however the delight was short-lived and indices consolidated for rest of the day as has been the case in the last couple of session.  FMCG stocks had a good outing, Select Pharma, Power and IT stocks edged higher. Capital goods, Banking and oil & gas stocks closed weak. The last couple of trading session market has seen time and price consolidation. The Nifty has moved in tight band of 8280-8383. The current trend for nifty looks sideways with 8270 as good support. Below this level we might see correction up to level of 8180. On upside bulls needs to pierce level of 8380 on closing basis for fresh up-move.

Lavasa Corporation, the realty arm of construction major HCC (BSE Code: 500185), has received market regulator Sebi's approval for raising Rs 750 crore through an initial public offer (IPO). HCC group has 68.72% stake in Lavasa. The stock may remain in focus in today’s trade.

Apollo Tyres (BSE Code: 500877) reported 17.52% increase in consolidated net profit at Rs 257.94 crore for the second quarter ended September 30, 2014-15 driven by higher exports. Its net sales in Q2 of the current fiscal were Rs 3,300.64 crore, down 3.86%, compared to Rs 3,433.45 crore in the year ago period. The stock may remain in focus in today’s trade.

Sharda Motor (BSE Code: 535602) reported 148.64% increase in net profit at Rs 11.03 crore for the second quarter ended September 30, 2014. Its net sales in Q2 of the current fiscal were Rs 212.13 crore, increase 13.39%, compared to Rs 187.08 crore in the year ago period. The stock may remain in focus in today’s trade.