Market Outlook for the day – 7200-7300 is the current trading range, an either side break will attract steep move in that direction.
Bata India Ltd has planned to invest over Rs. 100 crore to increase productivity at its three manufacturing units and expand its retail network this year.
NIIT’s consolidated net profit surged 415% to Rs 14 crore on 5% increase in net revenue to Rs 232.90 crore in Q4 March 2014 over Q4 March 2013.
Mahindra & Mahindra has decided to enforce no production days for up to three days during the remaining period of May 2014.
Results on May 22, 2014: Ashok Leyland, Binani Industries, Cummins India, IRB Infra, Jain Irrigation, Jyothy Lab, Sobha Developers, Suven Lifesciences
Volatility continued in late trade as the key benchmark indices hovered in negative zone. Market edged lower amid initial volatility on weak Asian stocks. It languished in negative zone in mid-morning trade. Key benchmark indices extended losses and hit fresh intraday low in afternoon trade. Volatility continued in late trade as the key benchmark indices hovered in negative zone. Profit booking emerges in Banking and Capital goods stocks and its BSE indices closed more than 1% down. The market breadth, indicating the overall health of the market, was strong.