Index Trends And Stocks In Action November 17, 2014

The Indian market after taking a breather in the previous trading session, once again resumed their uptrend. The metal index was the top gainer followed by Realty, Oil & gas, Auto and Banking index. Broader market gained about half a percent each. Nifty on daily chart has formed a bullish harami candlestick pattern. The bear’s are not able to breach the support level of 8280-8320 on downsides. As long as bulls defend this level the trend looks up. On upside 8440-8428 is a strong supply zone. Once this supply zone is clear it will be a fresh breakout and market will inch higher.

PTC India (BSE Code: 532524) reported a 56% growth in its net profit in Q2 FY15 on the back of increased volumes of power traded on its platforms. The net profit for the company during the quarter stood at Rs 96 crore as against Rs 62 crore in the same quarter last year. The company’s total revenues during the quarter was up 34% to Rs 4,212 crore as against Rs 3,140 crore in the same quarter last year. Operationally, the company’s long term trades increased 27% to 6,031 million units as compared to 4,746 million units in the same quarter last year. The stock may remain in focus in today’s trade.

JSW Energy (BSE Code: 533148) will acquire two hydro-electric projects of Jaiprakash Power Ventures in Himachal Pradesh for about Rs 9,700 crore. The acquisition will make JSW Energy as the largest private sector hydro-power generator in the country. The acquisition will yield immediate cash flow and is expected to enhance JSW Energy's consolidated profitability and returns and create significant synergies. The stock may remain in focus in today’s trade. The stock may remain in focus in today’s trade.

Tata Motors (BSE Code: 500570) posted a net profit that fell short of Street expectations as it struggled with a slump in its domestic business and sales growth at its UK unit JLR slowed. Consolidated fiscal second quarter net profit fell 7.1% to Rs 3,291 crore in the three months ended September from Rs 3,541.86 crore a year earlier. The profit came on a 6.5% increase in revenue to Rs 60,564 crore from Rs 56,867 crore in the year-ago period. The stock may remain in focus in today’s trade.