Index Trends And Stocks In Action May 06, 2015

The Indian equity market oscillated in tight range throughout the day. Metal stocks were the major out performers of the day along with Kotak Bank which rallied as much as 6% on the back of strong Q4 performance and a surprise reward for shareholder in form of bonus.  On the daily chart the index formed a potential doji candlestick pattern around its resistance zone, this mark as a bearish pattern. Now going forward important support for index is placed around the levels of 8270 and 8220 any dips around these levels is a good buying opportunity as index is seeing good buying around its 200-day EMA support. On upside 8380 is a strong resistance zone and next major resistance is around 8455.

Tube Investments reported a 153% growth in net profit at Rs 77 crore during the quarter ended March 31, 2015, as compared to Rs 30 crore, a year ago. The company's revenue during the quarter rose to Rs 903 crore from Rs 890 crore a year ago. During the quarter the company sold non-operating assets, which generated a profit of Rs 61 crore. Further the company implemented voluntary retirement scheme in certain locations at a cost of Rs 27 crore to improve the productivity and competitiveness of its business.

Dabur India reported a 21% rise in consolidated net profit at Rs 285 crore for the fourth quarter ended March 31, 2015, as against Rs 235 crore a year earlier. Net sales rose 10% to Rs 1,945 crore as compared to Rs 1,764 crore in the same quarter last year.

Muthoot Finance reported 14% decline in net profit for 2014-15 fiscal at Rs 671 crore. The company had posted a net profit of Rs 780 crore in the 2013-14 fiscal. Total income during the fiscal ended March 2015 declined by 13 per cent to Rs 4,325 crore as against Rs 4,947 crore for the fiscal ended March 2014.