Index Trends And Stocks In Action April 24, 2015

The Indian equity market opened with a positive bias, however, in afternoon session, it witnessed a fresh wave of selling mainly in Cement, Energy and Pharma stocks as a result of which the indices ended lower. Nifty on the daily chart has formed a bearish candlestick pattern. This hint bear’s are gaining momentum. Now going forward nifty has a strong barrier on the upside in the range of 8525-8540, as long as Nifty trades below this level short term remains in favor of Bear’s. On downside first important support is placed around 8310 and if breaks this level next important support which major one is around level of 8250. If index breach this support expect a fresh wave selling to start.

Cairn India posted a fourth-quarter loss of Rs 241 crore on revenues of Rs 2,677 crore, compared to a profit of Rs 1,350 crore on revenues of Rs 3504 crore in the third quarter mainly on account of one-time impairment loss in Sri Lanka, low oil prices and forex loss.  At the EBITDA level, the company notched up profit of Rs 727 crore in Q4 as against of Rs 2,113 crore. For the full fiscal year 2014-15, Cairn had profit of Rs 6,541 crore on revenues of Rs 14,646 crore.

In Q4FY15 Gujarat Gas reported 29% decline revenue at consolidated at Rs 543 crore as against of Rs 766.4 crore in Q4FY14. EBITDA up 22% at Rs 84.1 crore as against of Rs 68.8 crore duce to EBITDA margin increased at 15.5% versus 9%. PAT up 26% at Rs 62.7 crore versus Rs 49.6 crore.

Mahindra & Mahindra Financial Services reported a 9% rise in net profit at Rs 367 crore in Q4FY15 as against of Rs 336.5 crore for the corresponding period of the previous fiscal year.  The total income increased 14% to Rs 1,680 crore during the quarter ended March 31, 2015, as against Rs 1,476 crore in the corresponding quarter last year. For the full year of FY15, total income rose 14% to Rs 6,061 crore as against Rs 5,301 crore in the same period last year. The net profit for fiscal year, however, declined 4% to Rs 913 crore as against Rs 954 crore a year ago.