Index trend and stocks in action February 01, 2016

The last trading session of the January month turned out to be a blockbuster as Indian benchmark indices surged to the tune of 1.8 per cent owing to the Bank of Japan announcing an unexpected cut on benchmark interest rates below zero. After a strong consolidation in the range of 70-80 point for the past three trading sessions, the Nifty index formed a Bullish outside bar, which indicates bulls are in strong momentum. Now going forward index has strong hurdle around levels of 7610, and if it manages to sustain above this level you can expect it to test levels of 7640-7680. On the downside strong support is around levels of 7470 and if this level is breached expect a fall upto levels of 7400.

Larsen & Toubro: Larsen & Toubro’s (L&T) net profit increased by 19.4 per cent to Rs 1,034.8 crore in Q3FY16 aided by other income and lower finance costs. Revenue rose by 8.3 per cent to Rs 25,829.3 crore in Q3FY16 compared to Rs 23,847.9 crore in same period last year, driven by infrastructure, power and hydrocarbon segments.

Avanti Feeds: Avanti Feeds consolidated net profit grew by 8.17 per cent Y-o-Y to Rs 36.54 crore for the quarter ended December 31, 2015, but declined by 17.55 per cent Q-o-Q. The company’s revenue grew by 7.29 per cent Y-o-Y at Rs 413.11 crore, but declined by 22.49 per cent Q-o-Q. Its consolidated core operating profit reported 9.54 percent Y-o-Y growth of Rs 55.48 crore for the quarter, but declined by 11.16 per cent Q-o-Q. Operating profit margin for the current quarter at 13.43 per cent expanded by 28 bps Y-o-Y and 171 bps Q-o-Q.

Pidilite Industries: Pidilite Industries net profit grew by 49.3 per cent to Rs 185.72 crore for the quarter ended December 31, 2015 compared with Rs 124.36 crore for the quarter ended December 31, 2014. Total Income has increased from Rs 1,208.33 crore for the quarter ended December 31, 2014 to Rs 1,348.75 crore for the quarter ended December 31, 2015.

Grasim Industries: Grasim Industries reported 95 per cent surge in consolidated net profit at Rs 650 crore in Q3FY16 and net revenue for the company rose 13 per cent to Rs 9,044 crore from Rs 8,035 crore. EBITDA was reported at Rs 1,795 crore, up 43 per cent from Rs 1,260 crore.

Marico: Marico’s consolidated net profit grew by 23.71 per cent at Rs 197.8 crore in Q3FY16 on account of lower expenses. Net sales of the company rose 7.29 per cent to Rs 1,554.6 crore in Q3FY16 as against Rs 1,448.92 crore in the previous year.

GIC Housing Finance: GIC Housing Finance net profit grew by 21.8 per cent to Rs 30.59 crore in Q3FY16 and 2.68 per cent Q-o-Q. The company’s Net Interest Income (NII) stood at Rs. 70.11 crore, clocking growth of 30.53 per cent Y-o-Y and 5.81 per cent Q-o-Q.