Market Outlook for the day – Nifty is trading at crucial levels having 6700-6685 as important support zone.
TVS Motor Company reported a profit after tax of Rs 52 crore in Q4 March 2014 as against net loss of Rs 33 crore in Q4 March 2013. Its net profit jumped 126% to Rs 262 crore on 11% growth in total revenue to Rs 7962 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
Sesa Sterlite consolidated net profit surged 445.04% to Rs 1621.55 crore on 7052.92% spurt in total income from operations (net) to Rs 20894.41 crore in Q4 March 2014 over Q4 March 2013.
Dabur India consolidated net profit rose 17.3% to Rs 235.29 crore on 15.5% growth in net sales to Rs 1769.02 crore in Q4 March 2014 over Q4 March 2013.
Hexaware Technologies consolidated net profit fell 31.89% to Rs 70.30 crore on 5.02% decline in income from operations to Rs 588.87 crore in Q1 March 2014 over Q4 December 2013.
Results on April 30, 2014: IDBI Bank, JSW Energy, KEC Intl, Kotak Mahindra Bank, Marico, Oriental Bank, Petronet LNG, PTC India Fin, Raymond, RPG Life, Shirram City Union, Sterlite Tech, Walchandnagar, Carborundum Universal, Everest Ind, Greaves Cotton.
Key benchmark indices edged lower for the third day in a row as investors sentiment was dampened amid forecast of below normal rains by IMD on Thursday, 24 April 2014. Investors also remained wary ahead of the announcement of Federal Reserve's monetary policy review on 30 April 2014. The market dropped in early trade. It extended initial losses and languished in the negative terrain during afternoon trade. It trimmed intraday losses later but closed in red at the end of the session. The Sensex and the CNX Nifty, both, hit their lowest level in almost two weeks. The market breadth, indicating the overall health of the market, was negative.