Index Trends And Stocks In Action January 22, 2015

The Indian market ended on optimistic note for fifth successive trading session in anticipation of stronger reforms measures in the forthcoming budget. The sentiment got further boost after Bank of Japan announced continuation of the 80 trillion yen stimulus and also lowered its inflation forecast to 1 per cent. Nifty after opening with upside gap of around 23-24 points, moved up swiftly and registered fresh all time high around levels of 8742. Later it did entered into speedy correction mode and filled the opening upside gap. The end of day candlestick pattern formation is a breather kind of pattern. The current up move is likely to continue as the RSI has not yet approached to overbought zones, but one has to be on bit defensive with long positions once the index breaks support levels of 8620-8610. On upside major resistance is placed around 8800-8845.

L&T Finance Holdings (BSE Code: 533519) reported a consolidated net profit of Rs 182 crore for the quarter ended December 2014, up 66% from Rs 110 crore in the same period last year on account of an improved net interest margin. The net interest margin (NIM) was at 5.66% in Q3 compared with 5.23% in the same quarter last year and the advances grew 20% y-o-y to Rs 45,225 crore compared with Rs 37,820 crore in the same period last year.

KPIT Technologies (BSE Code: 532400) net profit rose 7.57% to Rs 65.3 crore in Q3FY15 from Rs 60.7 crore a year earlier. Revenue in the three months ended 31 December rose 15% to Rs 779.8 crore from Rs 677.9 crore a year ago.

Raymond (BSE Code: 500330) reported 1.44% decline in consolidated net profit at Rs 56.07 crore for the third quarter ended December 31, 2014 on the account of higher expenses. Its net sales in the quarter under review, however, increased by 14.54% to Rs 1,382.32 crore as against Rs 1,206.81 crore during the same period of last financial year