Index Trends And Stocks In Action May 11, 2015

The Indian Equity Markets ended its three day’s losing streaks as sentiment turned positive on the back of positive global cues and a bounce in the rupee against dollar. On the daily chart the index has formed a Morning doji star candlestick pattern, this candlestick pattern is bullish in nature. Now way forward strong hurdle for the index is the range of 8245-8260. If bulls manage to get past these hurdles, the next major hurdle for the index is around levels of 8330-8350. On the downside level of 8170 and 8110 is strong support zone for the index.

Kansai Nerolac Paints reported a 34.60% increase in standalone net profit at Rs 60.37 crore in Q4FY15 as against of net profit of Rs 44.85 crore for the corresponding period a year ago. Net sales during the quarter stood at Rs 804.9 crore, an increase of 7.71% compared with Rs 747.22 crore in the year-ago period. The company has decided to set up a manufacturing unit in Gujarat at an estimated cost of Rs 350 crore with a capacity of 42,000 MT per year and can be expanded into phases.

Orient Cement reported an over three-fold jump in its standalone net profit at Rs 85.47 crore for the quarter ended March 2015 on higher realisation in cement prices in south India and cost optimisation. Total income of the firm, however, fell by 2% to Rs 394.31 crore in Q4FY15 from Rs 401.39 crore in the same quarter of the previous year.

Avanti feeds reported 53.6% growth in its standalone net profit at Rs 22.3 crore in Q4FY15 as against of Rs 14.5 crore in Q4FY14. Total income of the firm increased by 37.5% to Rs 381.5 crore in Q4FY15 from Rs 277.3 crore in the same quarter of the previous year. The company also declared a dividend of Rs 27.5 per share. For the entire 2014-15 fiscal, standalone net profit rose by 67% to Rs 116.6 crore against Rs 69.8 crore in the 2013-14 fiscal. Total income rose by 57% to Rs 1,776 crore from Rs 1,131.6 crore during the same period.