DSIJ Mindshare

Index Trends And Stocks In Action October 21, 2014

The Indian market began the truncated week on an upbeat note, on back on strong gains in the U.S and European markets and a firm trend in Asian markets setting up a cracking start. Other significant factors that contributed to the cracking start were the government decision to deregulate diesel prices and the BJP impressive win in the Harayana and Maharashtra assembly polls. Nifty opened gap up and post gap up opening moved in tight range of 30-45 points. Now going forward nifty will face strong resistance around levels of 7930 and 7990. On downside strong support for index is around 7810 and 7760.

SKS Microfinance (BSE Code: 533228) posted a more than threefold jump in net profit for the quarter ended 30 September as it benefited from higher demand for loans outside its home base of Andhra Pradesh and Telangana. Profit rose to Rs 56.75 crore in the three months, from Rs16.34 crore in the same period last year. The profit was notched up on a 46.3% increase in revenue to Rs190.1 crore from Rs129.95 crore. SKS Microfinance’s loan portfolio increased by half to Rs3,043 crore in the second quarter compared to Rs2,029 crore in the year-ago period. The stock may remain in focus in today’s trade.

Net profit of Heritage Foods (BSE Code: 519552) declined 52.46% to Rs 4.83 crore in the quarter ended September 2014 as against Rs 10.16 crore during the previous quarter ended September 2013. Sales rose 20.58% to Rs 503.94 crore in the quarter ended September 2014 as against Rs 417.92 crore during the previous quarter ended September 2013. The stock may remain in focus in today’s trade.

Idea Cellular (BSE Code: 532822), the country's third largest operator, on Monday reported a 69% jump in consolidated net profit for the July-September quarter, beating estimates of analysts.  The growth was on the back of strong subscriber additions and uptake in data usage. However, sequential growth remained mute during the seasonally weak quarter back of strong subscriber additions and uptake in data usage. Consolidated revenue increased by about 20% to Rs 7,570 crore. Sequentially, net profit rose nearly 4% while revenue was up a marginal 0.1%. The stock may remain in focus in today’s trade.

Sasken Communication Technologies (BSE Code: 532663) reported a sharp rise in standalone net profit for the quarter ended September 2014.  During the quarter, the profit of the company rose 6.52 times to Rs 133.46 crore from Rs 20.45 crore in the same quarter last year. However, Net sales for the quarter declined marginally 0.22% to Rs 88.50 crore, compared with Rs 88.69 crore for the prior year period. Earnings per share for the quarter stood at Rs 62.55, registering 6.47 times growth over previous year period. The stock may remain in focus in today’s trade.

BGR Energy Systems (BSE Code: 532930), a leading EPC and BoP company has received orders worth Rs 250 crore in the electrical sub-stations segment of its Electrical Projects Divison (EPD). EPD EPD have secured three Substation orders from Tamil Nadu Transmission Corporation for Establishment of 230KV AIS Substation at Puraisai, Villupuram, 110KV GIS Substation at Thirumangalam South, 400/230-110 KV AIS substation with all associated equipment, systems and civil works at Palavadi in Dharmapuri district. All orders are on Total Turnkey basis. The stock may remain in focus in today’s trade.

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