Index Trends And Stocks In Action May 14, 2015

The Indian Equity Markets witnessed wild swings on Wednesday trading session. Banking and Auto stocks were in focus as sentiment improved after CPI based inflation had softened to four months low. On the daily chart the Nifty index has formed a bullish piercing candlestick pattern, which hints bulls are regaining their momentum. The index is moving in a band of 7990 on lower and on higher side 8355. As long as the index trades in this range, we expect the market to exhibit volatile moves on both the side. Once we breach this range, expect a good trending move in the index. For day trading important support for the index is placed around 8180 and next support around 8090. On the upside level of 8300 and 8360 would act as a stiff resistance for the bulls.

Lupin has forayed into the Brazilian market through its acquisition of 100% equity stake in Medquímica Indústria Farmacêutica S.A., Brazil, (Medquímica). The size of the deal is estimated at around USD 100 million (about Rs 640 crore).  The company engaged in the development, manufacturing & commercialisation of branded generics, pure generics and OTC products, Lupin said.

Ashoka Buildcon reported over two-fold increase in consolidated net profit at Rs 37.80 crore in Q4FY15 as against of Rs 13.56 crore in Q4FY14. The company's total income from operations increased to Rs 803.03 crore over Rs 608.25 crore in the year-ago period. The company has raised Rs 500 crore through QIP in April 2015 by issued 2.84 crore equity shares of Rs 5 each at Rs 175.80 per share. With regard to current order book, the company has total EPC order backlog is at Rs 3,105 crore (Rs 1,362 crore in highway segment and Rs 1,743 crore in Power T&D segment).

Pennar Industries has posted a big jump in its net profit at Rs 16.02 crore for the fourth quarter ended March 31, 2015 on a consolidated basis as against Rs 7.42 crore it logged for the corresponding quarter last year. The company engaged in steel products has registered income of Rs 415.27 crore (Rs 367.62 crore). For the financial year ended March 31, 2015, the company registered a net profit of Rs 35.90 crore and income of Rs 1,446.48 crore as against a net profit of Rs 25.94 crore and income of Rs 1,294.64 crore for the previous financial year.