Index Trends And Stocks In Action April 15, 2015

Indian benchmark ended the day on positive note with Infra, FMCG and Pharma stocks leading from the front. The broader market ended on positive note. The Midcap index surged 0.2% and smallcap index added 0.5%. Nifty index after opening positive, shifted to intraday consolidation for better part of session. Every dips attracted buying interest and in last hour of trading session index moved from strength to strength and ended near day’s high. Now going forward index has resistance around levels of 8910 and next resistance around level of 9000 level. On downside 8760 is crucial support for index and next important support for index is placed around levels of 8645.

Logistics firm Gateway Distriparks is aiming to list its rail unit, valued by analysts at nearly USD 500 million, by the end of the current financial year in March 2016. In order to maintain a majority stake after the initial public offering, the company is in talks with private equity firm Blackstone to buy back a 5-7% stake in unit Gateway Rail Freight.

ACC posted a decline of 41% in its consolidated net profit at Rs 236.5 crore for the quarter ended March 2015, against Rs 399.8 crore in the corresponding quarter previous year. ACC's cement dispatches were down by 10.2% to 5.8 million tonnes against 6.5 million tonnes in the year-ago period. This decline had an impact on the company’s sales. The consolidated net sales saw a decline of 2.7% year-on-year to Rs 2,885.4 crore during the quarter.

Private sector lender DCB Bank reported a 61% jump in March quarter net at Rs 63 crore, helped by a deferred tax benefit and write-back in provisions for bad assets.  The core net interest income moved up to Rs 130 crore from Rs 100 crore a year ago, while non-interest income was at Rs 46 crore for the reporting quarter against Rs 33 crore a year ago. Gross non-performing assets ratio improved to 1.76 per cent from 1.87 per cent last year.

Wednesday will be the last trading day for ING Vysya Bank shares, as the bank is being merged with Kotak Mahindra Bank. According to the swap ratio, ING Vysya Bank shareholders will receive 725 shares in Kotak for 1,000 shares of ING Vysya Bank. The record date has been fixed at April 17. The record date is the cut-off date for shareholders to qualify for the swap of shares. Following this, trading in ING Vysya Bank shares will be suspended from the closing hours of April 15.