Index Trends And Stocks In Action May 22, 2015

The Indian equity market opened on a listless note and stayed that way right through the session. Automobile, Capital Goods and Realty stocks edged higher. On other hand FMCG, Power and Oil stocks ended weak. On the daily chart the index has formed a potentially doji candlestick pattern, this hints there is tough fight between bulls and bear’s. Now going forward level of 8465 is strong resistance for the index. On the downside level of 8360 will act as a support for the index and if it fails to hold this support next major support is placed around levels of 8320.

Britannia Industries reported a 55.35% increase in its consolidated net profit at Rs 167.25 crore in Q4FY15 as against net profit of Rs 107.66 crore in the same period of previous fiscal. Britannia's net sales rose to Rs 2,031.83 crore during the quarter, up 14.32% against Rs 1,777.28 crore in the same period of previous fiscal.

Voltas reported a 17.55% increase in consolidated net profit at Rs 118.04 crore in Q4FY15 as against of net profit of Rs 100.41 crore for the corresponding period a year ago. Net sales in the fourth quarter of fiscal year 2014-15 increased 2.32% to Rs 1,484.09 crore from Rs 1,450.36 crore a year ago.

RCF reported a 56.5% decline in consolidated net profit at Rs 66.3 crore in Q4FY15 as against of net profit of Rs 152.5 crore for the corresponding period a year ago. Net sales in the fourth quarter of fiscal year 2014-15 increased 5.4% to Rs 2,025.7 crore from Rs 1,921.8 crore a year ago.