Index Trends And Stocks In Action May 08, 2015

There seem to be no respite for Indian equity market due to sustained selling at several counters. The Indian rupee weakened for the fifth successive trading session and was quoting at 20-month low at 64 per US dollar on the back of dollar demand by the overseas investors. On the daily chart the index has formed a potentially doji candlestick pattern. Doji candlestick formed after a sharp correction generally hints that selling may halt for some time and now the index is hovering in oversold zones, so a bounce is likely in next couple of trading session. Now going forward 7990 and 7930 are crucial support zone for index. On the upside 8175 is a hurdle for the bulls and major hurdle for bulls is around levels of 8230.

Titan Company reported 4.2% increase in net profit at Rs 215.09 crore Q4FY15 as against of Rs 206.44 crore in the corresponding quarter a year ago. Its total income was at Rs 2,512.05 crore during the quarter under review, down 11.2% as against Rs 2,828.88 crore in the year-ago period. For the full year of FY15, Titan reported net profit of Rs 823.07 crore compared with Rs 741.14 crore in the previous year. Its total income in the year ended March 31, 2015, stood at Rs 11,973.79 crore as against Rs 12,023.40 crore in the previous fiscal year.

BASF India reported net loss of Rs 59.3 crore in Q4FY15 as against profit of Rs 6.6 crore in the corresponding quarter a year ago. Total income reported at Rs 1,072.3 crore as against of Rs 1,068.7 crore on YoY basis.

GE Shipping reported consolidated net profit of Rs 137 crore in Q4FY15 as against of Rs 66.8 crore in the corresponding quarter a year ago. Consolidated total income up 10.7% at Rs 884.2 crore as against of Rs 798.8 crore on YoY basis.