Index Trends And Stocks In Action February 04, 2015

The Indian market continued its losing streak for third successive trading session. Traders and investors indulged in book profit at higher level following RBI decision to keep key interest rates unchanged. Broader market remained subdued as CNX Midcap declined 0.8 per cent and the Small Cap index ended flat. Technically, the bulls managed to defend important support level of 8730 on closing basis. Now next couple of trading session would be important for the bulls, if it manages to defend support zone of 8700-8730, the chances of moving up will refreshed. For day trading hurdle for index on upside would be in range of 8820-8840. On downside important support is placed around levels of 8730-8690.

Jubilant Life Sciences (BSE Code: 530019) posted a consolidated net loss of Rs 11.16 crore for the third quarter ended December 31, 2014. The company had a net profit of Rs 143.43 crore during the same period of previous fiscal. Its net sales for the quarter under review stood at Rs 1,430.25 crore during the period, marginal increase of 0.18% compared to Rs 1,427.65 crore in the same period previous fiscal.

Britannia Industries (BSE Code: 500825) reported 36.5% growth in consolidated net profit at Rs 137 crore for the third quarter ended December 2014 compared to Rs 101 crore in the corresponding quarter last year. The net sales of the company went up 13.7% to Rs 2,015 crore as against Rs 1,772 crore in the same quarter last year. The operating profit on an equalised basis after excluding the impact of additional depreciation basis revision in estimated useful lives of fixed assets went up 42.4% to Rs 197 crore as against Rs 139 crore in the same quarter last year.

Bharti Airtel's tower unit Bharti Infratel (BSE Code: 534816) has posted a 23% jump in its consolidated net profit at Rs 507 crore for the quarter ended December 31, 2014. It had reported a net profit of Rs 411 crore in the same quarter previous fiscal. The consolidated revenues of tower firm grew 8% to Rs 2,949 crore for the December quarter against Rs 2,731 crore for the same period last year.

Torrent Pharmaceuticals (BSE Code: 500420) proposed to double its borrowing limit to Rs 10,000 crore. The company would seek approval from its shareholders through a postal ballot for the same.

Crompton Greaves's (BSE Code: 500093) third quarter consolidated net profit shot up more than 4-fold to Rs 274.3 crore compared to Rs 62 crore in the year-ago period, driven by land sale in Mumbai. "Exceptional items represent profit on sale of portion of land at Kanjurmarg, Mumbai, amounting to Rs 278.15 crore and compensation to employees pursuant to voluntary retirement scheme amounting to Rs 10.61 crore," said the company in its filing. Consolidated total income declined 1.7 percent to Rs 3,333.2 crore during October-December quarter from Rs 3,389.3 crore in same quarter last fiscal.

Hero MotorCorp (BSE Code: 500182) reported a lower-than-expected quarterly profit as promotional costs in new international markets and employee expenses jumped with the start of its fourth plant. The company’s net profit rose 11% from a year earlier to Rs 583 crore for the quarter to December. Turnover (net sales and other operating income) was down 0.5% to Rs 6,839 crore. Two-wheeler sales at the company declined 2% to 1,648,548.