Index Trends And Stocks In Action February 03, 2015
Chirag Gothi / 03 Feb 2015
The Indian market swung between positive and negative terrain ahead of the RBI monetary policy. However the market saw some profit taking at higher levels and ended with marginal losses. The broader market ended with gains and outperformed the benchmark indices.
The Indian market swung between positive and negative terrain ahead of the RBI monetary policy. However the market saw some profit taking at higher levels and ended with marginal losses. The broader market ended with gains and outperformed the benchmark indices. On daily chart nifty has formed a Doji Candlestick pattern along with more than average volumes. This pattern is formed near the gap zone which was created on 23rd January, 2015, now the gap is filled. So as per the theory bulls are likely to take the charge from here on. However index needs to hold on to important support of 8750-8730, to maintain bullish stance. If index breaches this important support zone expect correction upto levels of 8650. Traders and investors will be eyeing the RBI policy review for further direction.
Bayer CropScience (BSE Code: 506285) reported 41% increase in net profit at Rs 55 crore in Q3FY15 as against Rs 39 crore in the year-ago period. Total income increased to Rs 729.3 crore during the third quarter of this fiscal as against Rs 677.8 crore in the corresponding period of the previous year.
Cummins India (BSE Code: 500480) reported 22.9% rise in net profit at Rs 181.02 crore for the quarter ended December 31, 2014. Its total income from operations increased to Rs 1,083.09 crore, registering an increase of 5.8%.
Advanta (BSE Code: 532840) has reported a 5 times growth in its consolidated net profit at Rs 25.4 crore compared to Rs 5.4 crore in the year-ago period. The company’s net sales were up 30.3% at Rs 494 crore against Rs 3380 crore on YoY basis.
Strides Arcolab (BSE Code: 532531) reported a standalone net profit of Rs 97.39 crore in Q3FY15 as against Rs 3,525.24 crore for the corresponding period of the previous fiscal. In December 2013, the company had completed sale of its Agila Specialties Division to Mylan Inc for a total consideration of USD 1.75 billion. Standalone total income of the company stood at Rs 241.78 crore for the quarter under consideration. It was Rs 253.37 crore for the same period a year ago.
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