Index Trends And Stocks In Action October 22, 2014
The Indian market ended in green for a third straight session on Tuesday to register its one week high closing. In our last write up we mentioned nifty will face resistance around levels of 7930 and this was in line with our expectation. Now going forward the biggest hurdle for the bulls is to cross level of 7990 and 8035, if these levels are crossed than we can expect a good rally in market in short term. On downside 7920 and 7870 would act as strong support for the bulls.
BASF India (BSE Code: 500042) reported net loss of Rs 19.95 crore in the quarter ended September 2014 as against net profit of Rs 33.37 crore during the previous quarter ended September 2013. Sales rose 14.51% to Rs 1205.87 crore in the quarter ended September 2014 as against Rs 1053.09 crore during the previous quarter ended September 2013. The stock may remain in focus in today’s trade.
Zensar Technologies (BSE Code: 504067) reported net profit of Rs 67.3 crore for the second quarter ending September 30, 2014, down 4.7% from Rs 70.63 crore. On sequential basis net profit was up 20.3%. Revenue for the quarter at Rs 647.68 crore was up 9.8% from Rs 589.77 crore. On sequential basis revenue grew by 7.1%. According to the management net profit were down on a Y-o-Y basis due to the currency swing. But on sequential basis company have done well at 20.3% growth. The stock may remain in focus in today’s trade.
SKF India (BSE Code: 500472) posted a 25.91% increase in its net profit at Rs 58.65 crore for the third quarter ended September 30, 2014. The company had posted a net profit of Rs 46.58 crore during the same quarter last year. Total income from operations also increased 7.01% to Rs 612.79 crore during the period under review as compared to Rs 572.64 crore a year ago. The stock may remain in focus in today’s trade.
Cairn India (BSE Code: 532792) reported a 33% drop in September quarter net profit on the back of lower oil prices and production from its prime Rajasthan oilfield. Net profit during July-Sep 2014 was Rs. 2,278 crore, as against Rs. 3,385 crore for the corresponding quarter a year ago. Revenue dipped 14% to Rs 3,982 crore on account of lower volumes due to planned maintenance shutdown (at Rajasthan fields). Realisations also impacted by the softer global crude prices and higher profit petroleum tranche in Rajasthan. The stock may remain in focus in today’s trade.
KPIT Technologies (BSE Code: 532400) reported a 5.72% increase in net profit at Rs70.55 crore from a year earlier, boosted mainly by strong growth in the automotive and SAP verticals. Revenue in the September quarter rose 7.8% to Rs757.41 crore from a year ago. Dollar revenue was up 11.4% to USD 125 million year-on-year. The stock may remain in focus in today’s trade.
Piramal Enterprises (BSE Code: 500302) reported net loss of Rs 390.79 crore in the quarter ended September 2014 as against net loss of Rs 32.26 crore during the previous quarter ended September 2013. Sales rose 9.41% to Rs 1224.79 crore in the quarter ended September 2014 as against Rs 1119.48 crore during the previous quarter ended September 2013. The stock may remain in focus in today’s trade.
Mcleod Russel’s (BSE Code: 532654) second quarter net profit slipped 9% to Rs 221.5 crore from Rs 245.5 Crore on Y-o-Y despite gains in realization, largely due to an escalation in production cost. The company’s net sales were down at Rs 487.2 crore against Rs 490.8 crore, Y-o-Y. The company is going to acquire LAB International’s 90% shares in Pfunda Tea for USD 19.5 million. The stock may remain in focus in today’s trade.