Index Trends And Stocks In Action May 29, 2015
The Indian equity market despite opening on a positive note, the market spent much of the session in negative zone today. Weakness in Asian and European markets amid worries about U.S interest rate hikes weighed on sentiments. On the daily chart the index has formed a potentially hammer pattern, which is basically a reversal pattern. Technically, the index for the last two days is taking support around levels of 8270 and trying to move up, but it has faced strong resistance in zone of 8345-8380. Now going forward if index sustains above this resistance zone of 8345-8380, expect a fresh breakout. On the other hand, if index breaches support level of 8270, expect a fresh leg of correction up to level 8220-8180.
Aurobindo Pharma has posted a 19.5% drop in net profit to Rs 404 crore in Q4FY15 as against a net profit of Rs 502 crore a year ago. The company saw its total operating income jump 35.7% to Rs 3,162 crore for the quarter, compared with Rs 2,330 crore for the same period a year ago. A 55% rise in total expenses during the last quarter led to a sharp fall in its net profit. Other income during the quarter saw a 24.8% fall to Rs 6.74 crore, when compared with Rs 8.97 crore in the same quarter last fiscal. The company has recommended for issue of bonus 1:1.
Aegis Logistics has posted a 100% jump in net profit to Rs 24 crore in Q4FY15 as against a net profit of Rs 12 crore a year ago. However the company saw its total operating income decline 50% to Rs 520 crore for the quarter, compared with Rs 1,100 crore for the same period a year ago. The company has recommends stock split of FV Rs 10 to FV Re1.
Net profit of KEI Industries rose 193.44% to Rs 12.53 crore in Q4FY15 as against Rs 4.27 crore during the previous quarter ended March 2014. Sales rose 35.70% to Rs 630.54 crore in the quarter ended March 2015 as against Rs 464.65 crore during the previous quarter ended March 2014. For the full year, net profit rose 195.26% to Rs 34.25 crore in the year ended March 2015 as against Rs 11.60 crore during the previous year ended March 2014. Sales rose 26.07% to Rs 2020.06 crore in the year ended March 2015 as against Rs 1602.35 crore during the previous year ended March 2014.