Market Outlook for the day – Current chart patterns indicate possibility of some profit taking thus short term traders are advised to trade cautiously.
Asian Paints Ltd has entered into a binding agreement with Ess Ess Bathroom Products Pvt. Ltd (Ess Ess) and its promoters to acquire its entire front-end sales business, including brands, network and sales infrastructure, subject to necessary approvals.
Tata Coffee reported a 59 per cent drop in consolidated net profit at Rs 19.13 crore for the fourth quarter ended on March 31, as coffee sales were impacted after changes in US market. The company had clocked a net profit of Rs 46.66 crore in the same period in financial year 2012-13. However, total income during January-March quarter of 2013-14 marginally rose to Rs 397.28 crore from Rs 387.83 crore in same quarter in year 2012-13.
Results on May 15, 2014: Adani Ports, Adani Power, Apollo Tyres, Bajaj Auto, Bank of India, Deepak fertilizer, J&K Bank, NTPC.
The Sensex and the Nifty ended the session near flat due to profit-taking by funds and retail investors after hitting record highs in the previous session. Trade was choppy as increase in crude oil prices triggered concerns about India's current account deficit and fiscal deficit. Among BSE sectoral indices, oil & gas, capital goods, IT and healthcare indices lost investors' support and were down 0.78 per cent, 0.36 per cent, 0.31 per cent and 0.3 per cent, respectively. On the other hand, realty and metal indices were performed better and were up 4.32 per cent and 3.22 per cent, respectively, followed by consumer durables 2.28 per cent and power 0.83 per cent.