Index Trends And Stocks In Action May 18, 2015

The Indian Equity Markets ended on positive above 8250 mark. Buying was seen in heavyweights like Lupin, SBI, HDFC and M&M. On the daily chart the index has formed a potentially spinning top candlestick pattern; this candle is often regarded as neutral and used to signal indecision about the future direction of the market. From past 10-15 trading session’s market has been in consolidating in a tight band along with high volatility. Now going forward, it’s important for the index to cross its major hurdle and also swing high level of 8365 on the upside; if it does new range on the upside will open up. If it fails to cross this hurdle expect a downward price correction up to levels of 7800 in the short term. In day trading important support for the index is placed around 8210 and next support around 8140. On the upside resistance is placed around 8310-8365.

Torrent Pharmaceuticals reported 46.72% dip in its consolidated net profit at Rs 130 crore in Q4FY15 as against profit of Rs 244 crore for the corresponding period of the previous fiscal. The firm's consolidated net income from operations stood at Rs 1,154 crore for the quarter under consideration as against Rs 1,225 crore for the same period a year ago.

JK Lakshmi Cement reported 89% fall in standalone net profit at Rs 6.05 crore inQ4FY15 as against net profit of Rs 52.91 crore in the year-ago period due to hit by one-time cost for sales tax exemption as well as marketing expenses. Total standalone income of the company declined by 11% to Rs 578.15 crore in January-March of last fiscal from Rs 648.23 crore in the same quarter of 2013-14 on account of fall in demand mainly due to unseasonal rains.

Cox & Kings today reported a consolidated net profit of Rs 64.56 crore as against net loss of Rs 46.24 crore for the corresponding period of the previous fiscal. However, company's consolidated net sales declined marginally by 0.83% to Rs 484.12 crore during January- March quarter as against Rs 488.21 crore for the same period.

Jain Irrigation reported 31% growth in profit after tax at Rs 98.5 crore as against net profit of Rs 75.3 crore in corresponding quarter of last financial year. The firm posted 11.92% revenue growth during the fourth quarter at Rs 2,104.1 crore as compared to Rs 1,879.9 crore in the previous year.