New records reached

For most days in the last week the markets saw down movements on the back of profit booking and mixed cues from the global front But coming to the end of the week the markets rebounded which lead the markets to another life time high Nifty closed at 6858 and was seen crossing the 6800 level for the first time ever On a weekly basis it was around 19 per centDomestic marketsAjanta Pharma in the last week posted over two fold increase in its net profit on the back of robust sales in the domestic markets The net profit stood at R 7009 crore for the fourth quarter that ended March 31 2014 as compared to Rs 2709 crore during the same period last fiscalNet sales of the company rose to Rs 30114 crore for the same period as compared to Rs 24921 crore in corresponding period of 20122013 For the year that ended March 31 2014 the company posted a consolidated net profit of Rs 23388 crore as compared to Rs 11211 crore in the earlier fiscalFor the year that ended March 2014 the net sales rose to Rs 117829 crore against Rs 92014 crore The board of the company has also recommended a dividend of R 10 per equity share on the face value of Rs 5 per shareThe consolidated net profit of GATI rose 83 per cent to Rs 1380 crore for the quarter that ended March 31 2014 from Rs 750 crore in a year ago period The logistics firmrsquos turnover has also increased by 20 per cent to R 38650 crore in the quarter under review from the last year periodThe company has an equity capital of Rs 1745 crore and the face value is Rs 2 The companyrsquos consolidated earnings before interest taxes depreciation and amortisation rose 4 per cent to Rs 3220 crore in March 31 2014 over the same period last yearNew governmentWith hopes of a stable government at the centre the foreign institutional investors remained buyers for the last eight months According to SEBI the FIIs bought shares worth R 74985 crore and sold stocks for Rs 65383 crore which results in a net inflow of Rs 9602 crore 16 billion for the month of AprilIn the last year the foreigners invested around Rs 32377 crore 53 billion in Indian equities They invested Rs 20077 crore in March Rs 1404 crore in February and Rs 714 crore in January Last month FIIs withdrew Rs 9185 crore 151 billion from the debt marketsFED meetingIn the FEDrsquos meeting the chair said that the US economy is still in need of support and the ECB said the central bank is ready to cut the interest rates in next month in order to support the economy Also with the Ukraine tension easing and a surprise trade surplus data from China also adds to the booster packFor the US markets in this week the data are ExportImport price index retail sales inflation and core inflation rate Retail sales industrial production and house price index will be the major event for the Chinese marketsRupee is slightly positive and it is likely to test 5960 and support at 6040 against the dollar For the short term players they can buy 1000 call option of Reliance 430 call options of Tata motors 490call option of BPCL Tata steel 430 call option and SBI 2200 call options are advisableAlex K Mathews is the author of Financial Services And Systems as well as Option Trading Bear Market Strategies published by Tata McGraw Hill He is also the technical and derivatives research head of Geojit BNP Paribas Financial Services LtdThe author may have a vested interest in investments he has recommended Feel free to email him at alexgeojitcom Geojit BNP Paribas has membership in and is listed on the National Stock Exchange NSE and the Bombay Stock Exchange BSE