Index Trends And Stocks In Action May 07, 2015
The Indian equity market closed at its lowest point of the year 2015, as nifty breached its important support of 200-day EMA. Market has shed more than 10 per cent from its all time high; the main reason for the fall has been the uninterrupted outflow of money from foreign investors. Nifty after forming Doji candlestick patter as on 5th May, 2015 has formed a big bearish candlestick pattern along with good volumes on 6th May, 2015, this indicates bear’s in dominating position. Now going forward important support for index is around levels of 8060 and next major support is around 7965. On the upside 200-day EMA will act as a major hurdle for the bulls.
Shemaroo Entertainment has posted a whopping 81.65% jump in its net profit for the quarter ended 31 March 2015. Shemaroo’s consolidated net profit for the end quarter of the fiscal stood at Rs 12.77 crore compared to Rs 7.03 crore a year ago. Total income from operations during the quarter also saw a 64.68% increase to Rs 86.82 crore from Rs 52.72 crore in the year-ago period. Total expenses, meanwhile, jumped 69.45% to Rs 61.17 crore as against Rs 36.10 crore. Profit from operations (before other income, finance costs and exceptional items) stood at Rs 25.65 crore up from Rs 16.62 crore.
KEC International reported an 83% rise in consolidated net profit at Rs 62.89 crore for the quarter ended March, 2015. The company had registered a net profit of Rs 34.36 crore for the corresponding quarter a year ago. Total income from operations rose to Rs 2,521.09 crore from Rs 2,175.87 crore in the year-ago period. The company has secured new orders worth Rs 1,461 crore in the transmission and distribution and cable business. It has Q4 order intake of Rs 3,820 crore along with the new order win.
Greaves Cotton reported 54% decline in net profit for the quarter ended March 31 at Rs 23.74 crore due to a fall in revenues. The company had reported a net profit of Rs 51.56 crore in the corresponding quarter last fiscal. Its total revenues for the January-March period stood at Rs 393.8 crore as against Rs 435.18 crore in the fourth quarter of FY14, registering a de-growth of nearly 10%.