DSIJ Mindshare

Index trend and stocks in action May 31, 2016

The Indian market extended its rally for the fifth consecutive session in a row. After opening in positive territory, the Nifty made an attempt to move upward soon after the opening. It registered a high of 8200 and later on shifted into a consolidation phase. On the daily time frame Nifty has continued with a sequence of higher top and higher bottom. Now going forward the level of 8240 will act as a strong barrier for Nifty. On the downside, the level of 8150 will act as an immediate support level. Since market has witnessed a fast and furious rally in short period it’s likely it will consolidate for some time and the flattening of RSI around 70 levels suggests the same.  Hence, we expect some choppiness and range bound movement in the market.

Sun Pharma: Sun Pharma has reported top-line and bottom-line numbers below street expectations. Revenues for the quarter are Rs 7634 crore while net profits have come in at Rs 1713 crore. The net profit is almost 10 per cent below street expectations. Sun Pharma's EBITDA margins came in at a healthy 33 per cent, although street was expecting about 36 per cent.

Tata Motors: Tata Motors saw a 3 fold increase in net profits at Rs 5177 crore for the quarter ended March, 2016. The company immensely benefitted from better performance from the JLR and the non-JLR segments. There was also robust growth visible in the MHCV segment. Net sales for the fourth quarter are up by 18.76 per cent at Rs 79,926 crore.

Mahindra and Mahindra: M&M reported healthy growth in its auto and tractor segments as revenues have increased by 14.5 per cent to Rs 10,800 crore in the fourth quarter. Auto and tractor sales are up by 12-14 per cent during the quarter ended March 31, 2016. The net profit has come in at Rs 583 crore which is almost 5 per cent lower than street expectations. The big disappointment is the operating margin which has come in at 9.7 per cent, nearly 200 bps below what the street had expected.

Raymond: Textile major Raymond has carved out a fast moving consumer goods (FMCG) group to extend the eponymous apparel brand to over a dozen personal and home care products.

Suzlon Energy: Wind turbine maker Suzlon had informed that its consolidated loss in the quarter ended  March 31, 2016 has narrowed to Rs 270.55 crore as against a loss of Rs 1212.06 crore in the year ago period, helped by lower expenses and faster execution of projects.

Rcom: ADAG group led Reliance Communication has reported a 22 per cent fall in its net profit for the fourth quarter at Rs 177 crore. Total income also has declined marginally by 1.35 per cent to Rs 5617 crore.

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