Index Trends And Stocks In Action February 05, 2015

The Indian market continued to fall for fourth consecutive trading session. Market opened with smart gains but soon pared gains and slipped into negative territory as selling pressure intensified in select heavyweights. The broader market ended on a passive note. Technically, Nifty is forming a lower top lower bottom in last four trading session. Currently it’s flirting around its 15-day EMA support, once it breached its support zone of 8690-8700 expect correction up to levels of 8630. On upside 8750 and 8790 will act as stiff resistance for the index.

HDFC Bank (BSE Code: 500180), the second-largest private sector bank, launched its programme to raise Rs 10,000 crore through a combination of share sales to qualified institutional investors and the issue of American Depository Receipts (ADRs) on Wednesday.It has set Rs 1,057-1,067 per share price range for its domestic share offering.

JK Lakshmi Cement (BSE Code: 500380) reported a 31% increase in net profit at Rs 18.48 crore for the quarter ended December, 2014, on higher sales and net sales realisation. The company, which has an annual cement-making capacity of over nine million tonnes, had registered a net profit of Rs 14.09 crore for the corresponding period a year ago. Revenue of the company rose to Rs 618 crore from Rs 560 crore a year earlier buoyed by a 6% rise in sales volume. Production too grew by six per cent during the period.

Bharti Airtel (BSE Code: 532454) posted more than doubled its third-quarter net profit, beating estimates, as higher usage of pricier data services along with lower costs helped offset pressure on its voice business as well as continued losses in Africa. Consolidated profit rose to Rs 1,436 crore for the three months ended December 31 from Rs 610.2 crore a year ago. It was the highest level of earnings since September 2010 and the fifth straight quarter of profit growth after a prolonged period of declines under competitive pressures. Revenue grew almost 6% to Rs 23,217 crore.

Aurobindo Pharma’s (BSE Code: 524804) consolidated net profit declined 8% at Rs 384 crore in the third quarter ended December 31, 2014 compared to Rs 417 crore in the corresponding quarter of the previous financial year. The total income of the company, however, had gone up 48% to Rs 3,166 crore as against Rs 2140 crore.

KEC International (BSE Code: 532714) posted a reported net profit Rs 66.4 crore for the quarter ended December 31, 2014 as compared to Rs 19.2 crore for the quarter ended December 31, 2013. Total Income has decreased from Rs 2204 crore for the quarter ended December 31, 2013 to Rs 2188 crore for the quarter ended December 31, 2014.