Index Trends And Stocks In Action May 04, 2015
The Indian equity market ended the week and the April Month expiry on a depressing note. On daily charts the Nifty index has formed a bear candle with a lower shadow which hints that value buying is witnessing at lower levels. Currently, the index is hanging around its important support of the 200-day EMA and trying to recover from this level, however on higher levels its witnessing liquidation of the position as trend remains in favor of the bear. Now go forward the level of 8120 is key support for index, if bulls manage to hold this support expect a bounce back up to levels of 8280-8330. However if index moves below 8120 then it could test level of 7965 in short term.
IDFC has registered a 48% growth in fourth quarter consolidated net profit at Rs 382 crore compared to Rs 258 crore in the year-ago period. Consolidated income from operations grew by 16.7% to Rs 2,569 crore during January-March quarter from Rs 2,202 crore in the corresponding quarter of last fiscal. In asset quality, Gross NPA weakened to 0.65% in March quarter compared to 0.68% in December quarter but showed a 9 basis points increase on yearly basis. Net NPA declined 25 basis points sequentially (down 15 bps YoY) to 0.22% in the quarter gone by.
Nocil reported 69.74% growth in net profit to Rs 17.11 crore in the quarter ended March 2015 as against Rs 10.08 crore during the previous quarter ended March 2014. Sales rose 9.85% to Rs 189.31 crore in the quarter ended March 2015 as against Rs 172.34 crore during the previous quarter ended March 2014. For the full year, net profit rose 140.30% to Rs 56.76 crore in the year ended March 2015 as against Rs 23.62 crore during the previous year ended March 2014. Sales rose 20.63% to Rs 716.02 crore in the year ended March 2015 as against Rs 593.57 crore during the previous year ended March 2014.
Shasun Pharmaceuticals has more than doubled its net profit at Rs 22.2 crore during the fourth quarter ended March 31, 2015, against Rs 10.4 crore reported in the corresponding quarter of the previous year. This is despite 3 per cent drop in turnover at Rs 336.1 crore for the quarter from Rs 346.6 crore in the fourth quarter of 2013-14. A company release says formulations business delivered robust growth in 2014-15 led by a strong performance in the regulated markets.