Index Trends And Stocks In Action January 27, 2015

The Indian market continues to surge higher as European Central Bank on Thursday announced its maiden stimulus program in its bid to revive the inflation in the euro region. The broader market ended on mixed note. On daily chart nifty has formed a potential Doji candlestick pattern, this pattern imply a sense of indecision between buyers and sellers.  RSI momentum oscillator is indicating negative divergence. Considering the above factors we expect market to enter into consolidation or sideways phase after a mammoth rally of over 300 points in short snap of time. Fresh selling will emerge if index breaks important support of 8780 and next important support for index is placed around levels of 8700. On upside 8870-8900 will act as big hurdle for the index. 

Persistent Systems (BSE Code: 533179) recommended issue of bonus shares in the ratio of 1:1. In the quarter ended December 31, 2014, the company’s income on a standalone basis was Rs 323.99 crore (Rs 304.12 crore) and the net profit stood at Rs 61.14 crore (Rs 60.42 crore). EPS for the quarter was Rs 15.48 (Rs 15.51). The company also declared an interim dividend of Rs 10/share.

Prestige Estates (BSE Code: 533274) has reported a good 23% growth in net profit to Rs 99.5 crore for the third quarter of FY15 as compared to the corresponding quarter of last fiscal. Revenues for the quarter were up 40% to Rs 645 crore. Operating profit was up 39% to Rs 224 crore.

Shriram Transport Finance Company (BSE Code: 511218) reported a 1.10% drop in consolidated net profit to Rs 321.27 crore for the third quarter ending December 31 due to increase in finance costs and provisions and write-offs.  The finance costs rose to Rs 1,206.11 crore during the quarter compared with Rs 1,123.01 crore in the same period the previous fiscal. The net interest Income for the third quarter December 31 grew by 10% to Rs 1,106.27 crore compared with the same period a year ago.

City Union Bank (BSE Code: 532210) has reported a 15.28% growth in net profit for the quarter ended December 31, 2014 at Rs 102.70 crore from Rs 89.09 crore during the same period last year. Net interest income rose by 6% to Rs 209.77 crore and net interest margin stood at 3.48%. Total deposits rose by 10% to Rs 23,203 crore from Rs 21,116 crore, advances up by 7% to Rs 16,968 crore from Rs 15,825 core in the corresponding quarter last fiscal. Bank's provisions towards NPAs rose by 44% to Rs 65.6 crore from Rs 45 crore.

Gati (BSE Code: 532345) has reported a good 71.26% growth in net profit to Rs 11.44 crore for the third quarter of FY15 as compared to the corresponding quarter of last fiscal. Revenues for the quarter were up 14.6% to Rs 424 crore. Operating profit (EBITDA) was up 7.4% to Rs 32.38 crore.