Index Trends And Stocks In Action For 10th October 2013

Indian Equity market ended at two week high and above psychological hurdle of 6000. Market surged post afternoon session as September trade deficit data narrowed sharply fuelling hopes of an improving current account deficit.  Nifty crossed barrier of 6000 and manage to hold on to this level on closing basis. Nifty formed Bullish engulfing candlestick pattern which is bullish pattern. Going ahead market will face resistance around 6048-7080. On downside nifty has support around level of 5965-5920.

Hardcastle Restaurants, a master franchisee of west & south India operations of McDonald’s restaurant and a wholly own subsidiary of Westlife Development has announced launch of first McCafe in- restaurant in its McDonald’s restaurant in SOBO Central, Mumbai.  McCafe operating within McDonald’s opens the door for the consumer to have premium coffee experience. This is strategy by McDonald’s to accelerate growth of beverage in India. One can expect a positive move on the bourses.

Time Technoplast has got approval for its composite cylinder from petroleum and explosive Safety organisation (PESO). For a very first time in India LPG would be now available for consumers in “LiteSafe” composite cylinder .The Company has become first and single manufacturer of composite cylinder in India. To add on, various public sector oil companies and private marketers have shown immense interest in Composite Cylinder. Hence, scrip is likely to witness an up-move in short term.

Sing Tel, Singapore Telecommunication the service provider has increased the stake in Bharti Airtel to help the Bharti Airtel in upcoming bid in January 2014. Sing Tel has informed the government regarding its decision. Bharti Airtel stock is expected witness an up-move in short term.

The Board of Director of Goa Carbon approved the unaudited results for Q2FY14. The company is second largest manufacturer of Calcined Petroleum coke (CPC) in India. In Q2FY14 net income from operation stood at Rs 93.16 crore as against Rs 97.66 crore of Q2FY13 while the net profit has dropped drastically by 89% to Rs 1.19 crore in Q2FY14. Hence, we expect the stock of the company to move down.