Index Trends And Stocks In Action February 02, 2015

The Indian market witness black Friday as indices ended lower by more than 1.5 percent on Friday. Realty stocks and power stocks ended with some gains and outperformed market. The broader market ended with deep slash. On daily chart nifty has formed a bearish engulfing candlestick pattern along with more than average volume. This candlestick pattern is characterized by a large black body engulfing a preceding white body, during an uptrend. This is an important top reversal signal. The fall of Friday’s trading session will try to fill the gap created on 23^rd January, 2015. The gap range is around 8761-8800. Going forward 8760 will act as important support and next important support is around 8700. On upside 8845 will act as a resistance level.

Aarti Drugs (BSE Code: 524348) reported a 60% increase in its net profit at Rs 22.75 crore for the quarter ended December 31, 2014. The company had posted a net profit of Rs 14.16 crore in the same period last fiscal. Net sales during the period under review stood at Rs 261.07 crore as against Rs 222.15 crore in the year-ago period. The company also approves 1:1 bonus shares issue and Rs 5 per share dividend.

Excel Industries (BSE Code: 500650) has reporting a robust 507% year-on-year (yoy) jump in net profit at Rs 8.5 crore for the quarter ended December 2014 (Q3), on back of strong operational performance. The agrochemicals company had profit of Rs 1.4 crore in the same quarter last year. Net sales grew by 18% to Rs 117.14 crore in Q3FY15 from Rs 99.49 crore a year ago.

Avanti Feeds (BSE Code: 512573) reporting a robust 84% year-on-year (yoy) jump in standalone net profit at Rs 34.50 crore for the quarter ended December, 2014 (Q3), on back of strong operating margin. The company engaged in food products business had profit of Rs 22.44 crore in the same quarter year ago. Total income from operations for the quarter grew 38% to Rs 385 crore against Rs 279 crore in the corresponding quarter of previous fiscal.