Index Trends And Stocks In Action May 26, 2015
The Indian equity market witnessed profit booking across various sector. Barring the Oil & Gas index, all the major sectoral indices ended with losses. On the end of the day chart the index has formed a big bearish candlestick pattern, along with reasonable volumes. This suggests that bear’s are gaining momentum. Now going forward the index has strong support around the level 8310-8330. If the index sustains this level expect bounce back from up to levels of 8440 and 8525. We expect the index to trade volatile with the negative bias.
VRL Logistics reported 130.60% growth in net profit to Rs 19.37 crore in Q4FY15 as against Rs 8.40 crore during the previous quarter ended March 2014. Sales rose 8.30% to Rs 394.00 crore in the quarter ended March 2015 as against Rs 363.82 crore during the previous quarter ended March 2014.
VA Tech Wabag has sustained its net profit on a consolidated basis for Q4FY15, despite a tough business environment. For the quarter ended March 31, 2015, the company reported a net profit of Rs 71.30 crore as against of Rs 71.90 crore on a total income of Rs 907.73 crore as against 897.66 crore during the previous quarter ended March 2014. A press release from the company said some of the major orders received during the fourth quarter include a Rs 732-crore order for balance of plant and water management from Telangana and Andhra Pradesh power utility; a Rs 200-crore order for a 147-million-litre-a-day water treatment plant in West Bengal; a Euro 12-million (Rs 83 crore) Effluent Treatment Plant order in Uzbekistan and a Euro 13-million (Rs 90 crore) sludge treatment order in Vienna, Austria. The company’s order book stands at Rs 6,800 crore, including Rs 2,977 crore coming in during 2014-15.
eClerx Services disclosed a sharp drop in consolidated net profit for the quarter ended March 2015. During the quarter, the profit of the company declined 17.50% to Rs 53.2 crore from Rs 64.5 crore in the same quarter previous year. Total revenues for the quarter rose 20.87% to Rs 261 crore, compared with Rs 216 crore for the prior year period.