Highlights for Today
Market Outlook for the day – Current chart patterns suggest volatility to continue in the coming sessions.
Cadila Healthcare consolidated net profit declined 8.74% to Rs 239.19 crore on 22.39% growth in net sales to Rs 1916.33 crore in Q4 March 2014 over Q4 March 2013.
Adani Ports and Special Economic Zone (APSEZ) has executed a definitive agreement with L&T Infrastructure Development Projects Ltd and Tata Steel Ltd to acquire 100% stake in Dhamra Port Company Ltd (DPCL), Odisha for an enterprise value of Rs 5,500 crore.
Results on May 19, 2014: Jubilant Food, Reliance Infra, Reliance Power, Whirlpool.
The market surged in early trade; the Sensex and CNX Nifty, both, hit record high after the early trends of Lok Sabha elections showed that Bharatiya Janata Party (BJP) led National Democratic Alliance (NDA) was leading in the elections depicting Narendra Modi to wrest the top job of the Prime Minister in the country; leaving Congress in tatters. Later, a bout of volatility was witnessed as the key indices trimmed gains after extending initial strong gains in morning trade. In the late trade, firmness continued on the bourses hoping NDA lead government will bring more business friendly environment than the Congress-party-led coalition government which was in power during the past ten years.