Index Trends And Stocks In Action January 28, 2015

The Indian market ended at fresh life time high levels as nifty managed to close above 8900 mark. Buying interest was seen in Banking, Auto, Capital goods, Realty and FMCG stocks. On other side some profit taking was seen in IT and Metal stocks. Nifty opened with gap up of 30-38 points, but in afternoon session it moved sideways and filled the gap of today’s session. However it maintained it sequence of higher top higher bottom pattern for past eight trading session. Now going forward if nifty index manages to get past hurdle of 8930, we expect market to touch 9000-9035 levels. On downside 8860 is strong support for index. Fresh selling will emerge if index sustains below 8860.

Tata Motors (BSE Code: 500570) is planning to raise Rs.7,500 crore from existing shareholders through a rights issue after the acquisition of JLR in 2008 and third such offering in the company's history since it got listed in 1955, aimed at reducing debt and financing growth. The consolidated debt of Tata Motors, as on 30 September 2014, stood at Rs.60,773.67 crore. Of this, the domestic operations accounted for Rs.17,046.49 crore.

Idea Cellular (BSE Code: 532822) had a 64% jump in consolidated net profit to Rs 767 crore in Q3FY15 as against Rs 468 crore in Q3FY14, due to growth in data volume and voice minutes. Consolidated revenue grew 21.2% to Rs 8,017 crore for the quarter over a year before. During the quarter, Idea carried 170.7 billion minutes on its network, registering 5.1% sequential quarterly growth and 46.1 billion megabytes of mobile data on its 2G+3G platform, with both lines of business delivering strong performance. Idea report significant improvement in Ebitda by 143 basis points over the earlier quarter (and 330 bps over a year before) to 34.3%.

Amara Raja Batteries (BSE Code: 500008) posted 7.71% increase in its net profit at Rs 102.34 crore for the third quarter ended December 31, 2014. Net sales of the company rose to Rs 1,059.55 crore for the third quarter ended December 31, 2014, as against Rs 859.95 crore in the year-ago period.

Titan Company (BSE Code: 500114) reported a 15.19% increase in standalone net profit at Rs 190.73 crore for the third quarter that ended on December 31, 2014. Total income from operations for the quarter ended 31 December increased more than 9.2% to Rs.2,922.5 crore. Revenues at Titan’s jewellery business, which generates roughly 80% of the company’s sales, rose 11% in the quarter, while watch sales fell 2%.

GSFC (BSE Code: 500690) posted a marginal 2% rise in net profit to Rs 101.20 crores Q3 FY15. Total income decline by 10% at Rs 1344.64 crore in Q3FY15 as against Rs 1510.68 crores in Q3FY14. Revenue at both the business segments fell. Fertilizer revenue fell 8%. The chemicals division, which is affected by a global sell-off in commodities, saw its revenue fall 12%. GSFC recently announced expansions worth Rs 1209 crore.  To meet the growing demand for plastics, the company will expand its Nylon-6 capacity with additional production of 15,000 million tonnes per annum (MTPA). GSFC is also coming up with an additional plant of 40,000 MTPA apart from its existing capacity of 15,000 MTPA to cater to the increasing demand of melamine. Additional capacity of 2,600 MTPA will be made in the Nylon-6 Fully Drawn Yarn (FDY).