Index Trends And Stocks In Action May 28, 2015
The Indian equity market after opening with deep cuts, however, as the day progressed the banking stocks and select heavyweight stocks helped the market to recover from early jerk. On the daily chart the index has formed a positive candlestick pattern along with good volumes; this suggests that lower level is being used to create long positions in the market. The 14-day period RSI has managed to close above the level of 60, this is positive and this suggests buying momentum is likely to continue. For the day trading important support for index in range of 8240-8270. On the upside 8380 and 8415 is strong barrier for the index.
Godrej Industries’ consolidated net profit grew by 22% at Rs139 crore in Q4FY15 as against of Rs 114 crore a year ago. Income during the period rose to Rs 2,341.10 crore from Rs 2,005.98 crore a year ago. India business branded net sales increased by 12%, led by double digit growth across categories as per management.
SJVN has posted a record increase of 50.43% in PAT at Rs 1,676.75 crore during the FY 15. The net profit of the company stood at Rs 1,114.63 crore in the last financial year. In Q4FY15, SJVN reported a 23.7% jump in its standalone net profit at Rs 185.08 crore for the March quarter, driven by higher revenue from operations. The standalone revenue from operations during the quarter increased to Rs 386.28 crore, as against Rs 312.04 crore in the corresponding quarter of FY14.
Bata India reported a 48.3% jump in net profit at Rs 58.43 crore for the quarter ended March, 2015, mainly boosted by gains from exceptional items. The footwear major had posted a net profit of Rs 39.40 crore for the corresponding period a year ago. Net sales during the period under review, however, declined marginally to Rs 491.00 crore as against Rs 495.12 crore in the year-ago period. Bata India has approved sub-division of 1 (one) Equity Share of the face value of Rs. 10/- (Rupees Ten only) each into 2 (two) Equity Shares of the face value of Rs. 5/- (Rupees Five only) each.