Index Trends And Stocks In Action May 15, 2015

The Indian Equity Markets trimmed early morning losses as state-owned banking stocks staged a smart rally on improvement in asset quality. On the daily chart the index has formed at dragonfly candlestick pattern around its 200-day EMA this is a positive development. As this indicates the bulls have warmed-up and ready to knock down bear’s. Now going forward level of 8255 will act as a stiff resistance for the bulls and once this resistance zone is clear expect move up to levels of 8280-8355. On the downside level of 8180 is strong support for index and next support is around levels of 8090.

JK Tyre reported over two-fold rise in consolidated net profit at Rs 106 crore in Q4FY15 on product launches across categories and improvement in operational efficiencies. Stiff competition from dumping by Chinese and Korean tyre makers punctured its revenue. Net sales of the company declined to Rs 1,789.49 crore for the fourth quarter, as against Rs 1,895.62 crore in the same period of previous fiscal.

Net profit of Balkrishna Industries reported flat at Rs 154.3 crore in the quarter ended March 2015 as against the previous quarter ended march 2014. Sales decline 13.8% to Rs 893.5 crore in the quarter ended March 2015 as against Rs 1,036.80 crore during the previous quarter ended March 2014.

Prism Cement has reported net profit of Rs 62 crore in Q4 FY15 against Rs 11 crore due to exceptional gain of Rs 62.1 crore on sale of investment. During the period under review, the company's total income stood at Rs 1,530 crore as against of Rs 1,524 crore on YoY basis. For the fourth, it sold 15.03 lakh tonnes of cement and clinker as against 14.71 lakh tonnes in the same period of the corresponding year.