Index Trends And Stocks In Action May 13, 2015

The Indian Equity Markets were shaken by bear on Tuesday as market witness sell-off and closed below level of 8150. Falling rupee against dollar, weakness in global peers and delay in land acquisition bill were the main reason for fall on Tuesday. On the daily chart the Nifty index has formed a bearish engulfing candlestick pattern near its swing high of 8356. This candlestick pattern is a strong bearish reversal candlestick pattern; however relevance for this candlestick pattern is of low magnitude as it’s been formed near bottom level. If this candlestick pattern is followed by a bearish candlestick and if the market breaches its important support level of 7950, then the relevance for this candlestick would be of high importance. Now going forward the nifty index will face resistance in zone of 8180 and 8220. On the downside 8035 and 7950 are the two important support level for the index.

Ashok Leyland reported 36.71% decline in standalone net profit at Rs 229.97 crore in Q4FY15 as against Rs 363.39 crore in the same period of the previous fiscal. Net sales on standalone basis during the period under review stood at Rs 4,435.53 crore as against Rs 3,020.95 crore in the year-ago period, up 46.82%.

Torrent Power's net profit for the quarter ended March 31 has more than doubled to Rs 369.43 crore as against net profit of Rs 172.85 crore during the same period of last fiscal. Its total income from operations rose to Rs 2,571.23 crore from Rs 2,180.99 crore in the corresponding period of last financial year.

TBZ reported 58% growth in net profit at Rs 18.5 crore inQ4FY15 as against of Rs 11.7 crore in the corresponding period of last financial year. Its total income from operations rose to Rs 463 crore from Rs 445.3 crore in the corresponding period of last financial year.