DSIJ Mindshare

Index Trends And Stocks In Action January 29, 2015

The Indian market ended its 8-day winning streak on Wednesday as traders and investors prefer to book profit ahead of January series F&O expiry. The broader market outperformed the key benchmark indices. Nifty in yesterday’s trading session formed a potential Doji candlestick pattern along with rise in volume. This candlestick patterns hint’s indecisiveness between buyers and sellers.  Momentum oscillator is hovering in highly overbought zone. Going forward if market trades below 8870, expect correction up to levels of 8810. On higher side 8945-9000 will act as a stiff resistance.  We expect market to trade volatile as its January series expiry.

Accelya Kale Solutions (BSE Code: 532268), an IT solutions provider to the airline and travel industry, has reported a 12.8% fall in net profit for the third quarter ended December 31, 2014. The company has recorded a net profit of Rs 17.7 crore against Rs 20.3 crore in the corresponding year ago quarter. Revenue went up 5.1 per cent to Rs 77.04 crore (Rs 73.3 crore) Accelya Kale’s board has declared an interim dividend of Rs 11 per equity share.

Pidilite Industries (BSE Code: 500331) reported a 28% increase in consolidated net profit at Rs 124.36 crore in Q3FY15 as against Rs 97.24 crore for the third quarter of previous fiscal year. Pidilite Industries' consolidated net sales during the quarter under review increased by 12.59% to Rs 1,196.34 crore as against Rs 1,062.55 crore in the corresponding period last year..

Net profit of NOCIL (BSE Code: 500730) rose 99.27% to Rs 16.48 crore in the quarter ended December 2014 as against Rs 8.27 crore during the previous quarter ended December 2013. Sales rose 21.33% to Rs 176.69 crore in the quarter ended December 2014 as against Rs 145.63 crore during the previous quarter ended December 2013.

Torrent Pharmaceuticals (BSE Code: 500420) plans to raise up to Rs 10,000 crore by issuing securities and will seek shareholders' nod in this regard. The company has posted a 5.69% increase in consolidated net profit at Rs 167 crore for the third quarter that ended on December 31, 2014. Net sales of the company rose to Rs 1,156 crore for the third quarter, as compared to Rs 990 crore in the same period of previous financial year. The company's board has declared an interim dividend of Rs 5 per equity share of Rs 5 each fully paid up.

The Cabinet Committee on Economic Affairs (CCEA) has cleared foreign direct investment (FDI) proposals of HDFC Bank (BSE Code: 500180) for Rs 10,000 crore and Lupin (BSE Code: 500257) for Rs 6,099 crore on yesterday. Both the proposals had earlier been approved by the Foreign Investment Promotion Board (FIPB), but had to be routed through the CCEA as they involved fresh foreign investments over Rs 1,200 crore.

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