Index Trends And Stocks In Action January 21, 2015
Chirag Gothi / 21 Jan 2015
The Indian market ended new life time high led by gains in FMGC and Realty stocks. The bulls were completely in a party mood. Nifty on daily chart has managed to surpass the doji candlestick which was formed as on 19th January, 2015 and in today session formed a strong bullish candlestick pattern along with good volume which indicates bulls will continue its upswing.
The Indian market ended new life time high led by gains in FMGC and Realty stocks. The bulls were completely in a party mood. Nifty on daily chart has managed to surpass the doji candlestick which was formed as on 19th January, 2015 and in today session formed a strong bullish candlestick pattern along with good volume which indicates bulls will continue its upswing. Now going forward important resistance for index is placed around 8745-8800. On downside important support is around levels of 8610-8565. As long as index trades above levels of 8610 we expect market to continue its upward momentum.
Rallis India (BSE Code: 13.73) reported 16% decline in consolidated net profit at Rs 25.49 crore for the quarter ended December 31, 2014 on lower sales. Its net profit stood at Rs 30.35 crore in the year-ago period. Total income from operations declined to Rs 389.47 crore in the third quarter of this fiscal as against Rs 400.76 crore in the corresponding period of the previous year.
Praj Industries’s (BSE Code: 522205) net profit declined 49.32% to Rs 12.30 crore in the quarter ended December 2014 as against Rs 24.27 crore during the previous quarter ended December 2013. Sales declined 18.49% to Rs 219.34 crore in the quarter ended December 2014 as against Rs 269.10 crore during the previous quarter ended December 2013.
Navin Fluorine International’s (BSE Code: 532504) net profit rose 107.60% to Rs 14.20 crore in the quarter ended December 2014 as against Rs 6.84 crore during the previous quarter ended December 2013. Sales rose 32.71% to Rs 145.58 crore in the quarter ended December 2014 as against Rs 109.70 crore during the previous quarter ended December 2013.
Excel Corp Care (BSE Code: 532511) reported 93% decline in net profit at Rs 0.98 crore for the quarter ended December 31, 2014 on lower sales and other income and higher financial cost. Its net profit stood at Rs 13.73 crore in the year-ago period. Total income from operations declined to Rs 171.64 crore in the third quarter of this fiscal as against Rs 211.34 crore in the corresponding period of the previous year.
The Cabinet Committee on Economic Affairs will discuss on Wednesday the possible sale of a 10% stake in Indian Oil Corporation (BSE Code: 530965), as the government finds ways to meet its fiscal deficit target.
TCS (BSE Code: 532540) has signed a multi-year contract with Virgin Atlantic Airways covering private cloud, Infrastructure-as-a-Service (IaaS) and IT support services.
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