Index Trends And Stocks In Action May 12, 2015

The Indian Equity Markets continued its winning streak for second successive trading session mainly due to a rate cut in China; positive earnings surprise and hope of a rate cut by RBI. Today’s gains were driven by Auto, Cement, Banking, Pharma and Metal stocks.  On the daily chart index has formed a strong bullish candlestick pattern along with reasonable volumes, this suggests bulls are back in action. However index is lingering around its strong supply zone of 8350-8370, only if index manage to sustain above this level expect a continuation of this rally. On the downside important support for index is around levels of 8290 and 8180.

Mahindra CIE Q4 net profit jumps 400% at Rs 32 crore as against the previous year of Rs 6.5 crore. Total income also increased by 320% at Rs 414 crore, when compared to the corresponding period of the last year of Rs 98.2 crore.

Orient Paper & Industries reported a 12.26% decline in its standalone net profit at Rs 16.67 crore Q4FY15 as against net profit of Rs 19 crore in the January-March period of the previous fiscal. Company's net sales on a standalone basis declined 1.66% to Rs 569.69 crore for the fourth quarter as compared to Rs 573.31 crore during the same period of the previous financial year. Orient Paper's revenue from paper and board segment increased 26.58% during the period under review to Rs 128.47 crore as against Rs 101.49 crore of the same period last fiscal. Revenue from electrical consumer durables declined 6.52% to Rs 453.49 crore from 485.14 crore in the same period last fiscal.

SRF reported an 11% growth in its standalone net profit for the fourth quarter of fiscal 2014-15. The company’s net profit stood at Rs 59 crore as against Rs 53 crore in the same quarter last year. The profits improved despite a 4% drop in its net sales to Rs 847 crore during the quarter. The increase in net profit was mainly due to the sharp decline in crude oil prices as per the company management.