Index Trends And Stocks In Action May 19, 2015

The Indian Equity Market started the week on optimistic note as it closed with towering gains. Buying was seen across the sectors. The Consumer durables and oil & gas index led from the front followed by healthcare, FMCG and Capital goods. On the daily chart the index has formed a potentially Bullish Marubozu candlestick pattern; this suggests that the bulls are attacking bear’s with full force. Now the index has managed to close above important supply zone of 8330-8365. Going forward the index has resistance around level 8450 and 8520. On the downside important support for the index is in the range of 8300-8270.

HSIL reported 35.4% growth in Q4FY15 to Rs 39.8 crore as against of Rs 29.4 crore on YoY basis. Total income down by 11.1% to Rs 559 crore as against of Rs 629 crore in the corresponding of the previous year.

MM Forgings reported 42.3% growth in profit after tax at Rs 11.1 crore as against net profit of Rs 7.8 crore in corresponding quarter of last financial year. The firm posted 17.8% revenue growth during the fourth quarter at Rs 126.6 crore as compared to Rs 107.5 crore in the previous year.

Eros International, India’s leading global film entertainment company, has announced landmark deals with three major most-respected Chinese state owned film and entertainment companies to promote, co-produce, distribute and unlock value in respective intellectual properties for Sino-Indian films across all platforms in both the countries.