Index Trends And Stocks In Action January 20, 2015

The Indian market ended higher extending gains for third successive trading session. However, it closed off days high on account of some selling pressure in index heavyweight Hinudstan Unilever as stock failed to meet market expectations. Nifty on daily chart has formed a perfect doji candlestick pattern. This candlestick pattern implies sense of indecision between buyers and sellers. Although prices move both upwards and downwards during the trading session, the prices of index managed to close unchanged.  For day trading nifty has strong resistance around levels of 8575 and 8628. On downside important support for index is placed around levels of 8500 and 8470.

Mindtree (BSE Code: 532819) has reported a 59% year-on-year rise in net profit for the third quarter. It also announced the acquisition of a US-headquartered technology firm, Discoverture Solutions, for USD 15 million in an all-cash deal. Sequentially, net profit grew 2.5%. The company posted a net profit of Rs 141 crore in the third quarter of FY15. Revenue during the period stood at Rs 912 crore, registering year-on-year (YoY) growth of 15.3%.

Hindustan Zinc (BSE Code: 500188) reported a 38% rise in net profit in the October-December quarter at Rs 2,379 crore on higher zinc, lead and silver sales. The company had clocked Rs 1,723 crore net profit in the corresponding period last fiscal. Revenues were up 12% to Rs 3,804 crore in Q3 FY 2015 from a year ago. The increase was driven by higher in zinc LME and lead & silver metal volumes, partly offset by lower silver price and refined zinc volume.

Zensar Technologies (BSE Code: 504067) reported 37% jump in consolidated net profit to Rs 69.52 crore Q3FY15, helped by growth in infrastructure management services business. The company had posted a net profit of Rs 50.71 crore in the year-ago period, it said in a statement. Consolidated net sales rose by 21% to Rs 717.67 crore in Q3FY15 from Rs 592.01 crore is the same quarter of FY14.

Net profit of CCL Products (India) (BSE Code:519600) rose 51.89% to Rs 26.11 crore in Q3 FY15 as against Rs 17.19 crore is the same quarter of FY14. Sales rose 21.71% to Rs 241.30 crore in Q3FY15 as against Rs 198.26 crore is the same quarter of FY14.