Index Trends And Stocks In Action November 14, 2014

The Indian market opened on positive note on back of optimistic data on industrial production and inflation, released after trading hours yesterday. However market could not hold this gain and ended on a depressing note. Nifty after a strong consolidation in last couple of trading session, saw a trending move in last session. Now going forward important support for index is place around 8280 level, if bulls manage to hold on to this support level the uptrend cycle would be intact. However if this support level is breached on closing basis we could see a correction or downfall of 80-100 points.

Cipla (BSE Code: 500087) posted a consolidated net profit of Rs 298.68 crore in Q2 FY15, on account of robust sales in domestic market. The company had posted a net profit of Rs 358.06 crore during the same period of previous fiscal. Net sales of the company stood at Rs 2,629.81 crore for the second quarter, while the same stood at Rs 2,483.47 crore during the same period of previous fiscal. Its domestic sales during the second quarter grew by 20.5% to Rs 1,251 crore, up from Rs 1,039 cr during the same period of previous fiscal. The company said results for the quarter were not comparable to the previous fiscal figures due to Mabpharm becoming a subsidiary of the company in July. The stock may remain in focus in today’s trade.

Sun Pharmaceutical Industries (BSE Code: 524715) reported a 15% jump in second-quarter net profit. Net income for the quarter ended September was Rs 1,572 crore (USD 255.4 million), up from Rs 1,362 crore a year earlier. Sun Pharma, which is in the process of acquiring rival drugmaker Ranbaxy Laboratories, is awaiting approval from India's antitrust regulator for the deal. The stock may remain in focus in today’s trade.

Tata Motors (BSE Code: 500570) reported a 7.71% decline in global sales, including Jaguar Land Rover, at 82,026 units in October. The company had sold 88,881 units in the same month last year. In the passenger vehicles category, the global sales last month were at 49,977 units as against 50,814 units in October 2013, down 1.64%. Sales of luxury brand Jaguar Land Rover increased by 5.6% to 38,187 units in October as compared to 36,157 units in the same month last year. Sales of commercial vehicles declined by 15.8% in October to 32,049 units from 38,067 units a year ago. The stock may remain in focus in today’s trade.

Dynamatic Technologies (BSE Code: 505242) signed a global outline agreement with BELL Helicopter, a Textron Inc., company (the ‘Agreement’) as a single source supplier of major airframe assemblies for the BELL 407 GX. The estimated business volume of the Agreement is approximately USD 90 million over a seven year period with options to extend through the life of the product. The stock may remain in focus in today’s trade.