Index Trends And Stocks In Action May 21, 2015

The Indian Equity Markets ended above 8400 mark amid gains in the IT, Power and the telecom stocks. However selling pressure was seen in capital goods and some select metal stocks. The index on daily chart has continued its upward momentum with higher top higher bottom in last 5-6 session. Now going forward the index has strong resistance in zone of 8465-8470. A decisive upside breakout above this hurdle could help bulls to gather further momentum till 8520-8550. If the index fails to cross this supply zone, expect wakening of the index up to levels of 8340-8270.

Tata Steel has reported a consolidated net loss of Rs 5674 crore in Q4FY15 against a profit of Rs 1036 crore in corresponding quarter last fiscal due to falling steel prices, poor demand and a huge write off on UK's long products business. During the quarter, its total income fell 20.6 percent to Rs 33,666 crore from Rs 42,428 crore in year-ago period. During the quarter, its EBITDA was at Rs 1543 crore versus Rs 5011 crore (Y-o-Y). Operating margin stood at 4.6% against 11.8% on a yearly basis.

TD Power reported 95% decline in its consolidated profit at Rs 0.7 crore in Q4FY15 as against net profit of Rs 14.2 crore in the same period of last year. The company's net sales on a consolidated basis decline 2.2% to Rs 18.7.1 crore during the January-March quarter as against Rs 183.1 crore a year ago.

J B Chemicals net profit rose 20.11% to Rs 25.74 crore in the quarter ended March 2015 as against Rs 21.43 crore during the previous quarter ended March 2014. Sales rose 11.69% to Rs 249.76 crore in the quarter ended March 2015 as against Rs 223.61 crore during the previous quarter ended March 2014.