MARKET Diary

24-Apr-17

Nifty Intraday Chart Market

KEY LEVELS
Market Value % Change
Support 1 : 9070
Morning Traded Market
Support 2 : 9020
SGX NIFTY 9,144.00 0.16%
Resistance 1: 9150
Resistance2: 9220
NIKKIE 18872 1.33%
HANG SENG 24,185.00 0.59%
Yesterday Closing Market
Sensex 29,365.30 -0.19%
Nifty 9,119.40 -0.19%
Market Outlook DOW 20,547.76 -0.15%
Event Today After starting with a subdued session, Indian NASDAQ 5,910.52 -0.11%
equities traded in the range of 9075 and 9218
throughout last week and closed the week with a CAC 5,059.20 -0.37%
Board Meetings net loss of 0.34% over the previous weeks close. DAX 12,048.57 0.18%
NARAYANI : General However the broader market was in favor of bulls
as the midcap and small cap indices outshined the
FTSE 7,114.55 -0.06%
PENINLAND : General benchmark index and closed the week after gaining EW ALL SHARE 16,890.04 -0.16%
VKJINFRA : General 2%-3%. % Change in 1 day
On the sectoral front, Realty and Media stocks were Commodity Price ( Yesterday Closing )
on the buyers radar. The realty index rose over
Result 10% last week. However Metal and Commodity/Currencies Value % Change
HEXAWARE , IBULHSGFIN Pharmaceuticals indices lead to a decline. GOLD 29418.00 0.42%
JSWHL , PERSISTENT The International Monetary Fund (IMF) said that SILVER 41289.00 -0.52%
RALLIS , RELIANCE India remains the fastest growing emerging
CRUDEOIL 52.72 0.53%
economy in the World and the countrys growth is
ULTRACEMCO , WENDT NATURALGAS 201.20 -1.08%
projected to rebound to 7.2% in the FY 2017-18 and
further to 7.7% in the FY 2018-19. DOLLAR/RS. 64.63 0.04%
Concall Countrys foreign exchange reserves rose by USD EURO/RS. 59.15 -0.42%
Tata Metaliks : 11:00 AM 889.4 million to USD 369.887 billion during the POUND/RS. 82.64 -0.11%
week ended April 14. The foreign currency assets
Indiabulls housing : 5:30 PM % Change in 1 day
are the major component of the overall reserves
and surged by USD 881 million to USD 346.248 Institutional Turnover
Consolidation of Shares billion during the reporting week. FII
AVANCE For the last six weeks Nifty has been within the Box Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
( Exdate : 24.4.2017) range of 9220 to 9020. So these two levels become 21-Apr-17 5235 6213 (978)
very important for medium term direction.
Candlestick pattern remains bearish and 'trade Apr-17 16015 15460 554
volume index' (technical indicator- that suggests 2017 97058 98086 (1028)
buying pressure when more trades get done at ask
and selling pressure when more trade gets done at
bid.) on intra-day chart suggests some more selling DII
pressure in the market. 9100 PE saw some Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
unwinding(reduction in open interest of 9.0 lakh 21-Apr-17 3546 2414 1132
contracts) on Friday. Still for market to get close to
Apr-17 8899 7919 980
the lower point of its trading range, OI of 9100 PE
must come below 35.0 lakhs (it is still at 50.0 lakh 2017 62400 56672 5728
contracts). And this remains key decider for intra-
day traders today.
Quote of the Day : Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior
gives you a little temporary unpopularity with your peer groupthen to hell with them." Charlie Munger
Narnolia Securities Ltd
IEA Snapshot

SUNPHARMA "Hold" 24th Apr 2017

US FDA import alert on Dadra unit may dwindle the companys revenue from the US business. In the meanwhile the Synergies from the
Ranbaxy acquisitions are gaining momentum and the company is on track to achieve the targeted benefits. Company has strengthened the
branded ophthalmic pipeline further through acquisition of Ocular Technologies. The management has maintained its guidance of 8-10%
sales growth for FY17E, we are optimistic for healthy growth in the long-term. Considering above arguments we recommend HOLD rating
on this stock while maintaining our previous recommended target price of Rs. 795. We are analysing the financial viewpoint of Mohali and
Dadra plant and will update as more clarity will emerge.

YESBANK "BUY" 21th Apr 2017

"Healthy loan growth with one of the best assets quality in the industry has led the earnings of YESBANK to keep buoyant. More than 75%
of the corporate portfolio is rated A & above A, which gives us comfort on assets quality outlook. However we see spike in GNPA in 4Q FY17
as one off and expect it to recover in 1Q FY18.Recently Yes Bank raised capital of Rs 4900 Cr which increased its CET I to 11.4% and Tier I to
13.3% which will support the loan growth of 30% plus. Increasing CASA with retail FDs is the key trigger for YESBANK for the margin
expansion. Focus of the management to increase the CASA & retail FDs to 70% till FY20 from current 59% will further help to improve NIM.
The increased pace of branch expansion and headcounts will continue to provide healthy and granular retail fee income. We expect the
bank to maintain the RoA of 1.9% and RoE of 19%. We value Yes bank (2.9x P/B and 123x EPS FY19) at Rs 1936 and maintain BUY"
*For details, refer to our daily report- India Equity Analytics

Top News
Ashok Leyland announced plans to invest Rs 500-600 crore
every year into launching new products, open two new
assembly plants in Africa and venture into new global markets
and aggressively bid for defence contracts. It is getting ready
to supply the first consignment of Boss trucks to Russia later
this month . Company will enter every market which has a
monthly market of 200 vehicles
Dr Reddy's has launched generic Progesterone capsules
used in treatment of menstrual irregularities and protection of
the lining of uterus in the US market. The capsules in the
strengths of 100 mg and 200 mg are generic versions of
AbbVie Products LLC's Prometrium capsules
Fund Action : Clearwater Capital Partners (Cyprus) Limited (FCCB) sold
400,000 shares of Kamat Hotels at Rs 45.28 per share on the NSE. Also,
Clearwater Capital Partners Singapore Fund III Private Limited sold
257,431 shares at Rs 46.36 per share on the NSE.
> Birla Mutual Fund bought 870,760 shares of Dalmia Bharat at Rs 2,050
per share on the BSE and Franklin Templeton Investment Funds bought
750,547 shares at Rs 2,050 per share on the BSE. Smallcap World Fund INC
bought 2,759,500 shares at Rs 2,030.13 per share on the BSE
Reliance Industries has begun commercial production of natural gas
from coal seams or CBM from its Madhya Pradesh blocks. The company is
supplying coal bed methane (CBM) produced from the block
SP(West)CBM2001/1 for commissioning the Shahdol-Phulpur pipeline.

Rupa & Company is confident of growth going forward and
aims to achieve around 15 percent growth this fiscal. The
company is also looking to foray into women lingerie segment
and is looking for a tie-up for that. the company will be
looking at inorganic opportunities and they would be funded
via debt. Company is looking to grow exports from 2.5 percent
to 10 percent of the revenues.
Insecticides (India) is aiming to become debt-free by end of
2017-18 fiscal by focusing on bottomline growth and
maximising sales with launch of new products
company has an estimated debt of Rs 200 crore, including the
working capital
Divis Laboratories said the US health regulator has issued a
warning letter to the company for its Vishakhapatnam facility.
The United States Food and Drug Administration (USFDA) has
issued warning letter for the company's Unit-II at
Vishakhapatnam.
Zee Entertainment Enterprises Ltd (ZEEL) announced its foray into
Poland as part of the strategy to strengthen its position in Central Europe.
The channel will soon launch a customised version of Zee One, its
Bollywood film and entertainment channel, for the Polish audience
KKR sold a 5.6% stake in Dalmia Bharat for an estimated Rs575 crore
through an open market transaction. The shares were purchased by a host
of entities, including Kuwait Investment Authority, Birla Mutual Fund and
Franklin Templeton Investment Funds.
Vodafone has agreed to sell 9.5% additional stake to Aditya Birla Group
for Rs 130 per share after they merged their telecom operations to create
the countrys largest operator worth more than $23 billion.
Hindzic Mgt said that even if some mines start, there will be deficit of
0.2-0.3 million tonne both in concentrate and a similar number for
finished goods too. He expects the LME prices to be around USD 2,800 to
3000 per tonne,

Narnolia Securities Ltd

 F&O OPEN INTEREST ( Number of Contracts )
Individual Foreign Institutions

MARKET MOVERS (1 MONTH CHANGE)

Nifty Movers NSE Sectoral Indices Performance

TRADING IDEAS

Scrip Reco Initiation Price Target 1 Target 2 Stop Loss Rational

After getting a strong support near Rs 32,
the stock has given a good pullback rally on
AMTEKAUTO Buy 33.45 37 41 31 Friday. A positive divergence was also made
in Stochastic on daily chart, suggesting some
upside from here

After getting a strong support At 100 DMA,

Long
the stock has given a good pullback rally.
HINDALCO 190 (1 Lot
2.55 5 7 1 The leading indicators (RSI & Stochastic) are
April CE =3500) in oversold zone, suggesting some pullback
rally from the current level.

Narnolia Securities Ltd

 Result Calendar Q4FY17
BSE Code Company Name Date BSE Code Company Name Date
511339 APPLECREDT 24-Apr-17 531364 AQUAPIV 27-Apr-17
532129 HEXAWARE 24-Apr-17 512404 BENGALS 27-Apr-17
535789 IBULHSGFIN 24-Apr-17 532523 BIOCON 27-Apr-17
532642 JSWHL 24-Apr-17 523754 EPCIN 27-Apr-17
533179 PERSISTENT 24-Apr-17 534063 FUTSOL 27-Apr-17
500355 RALLIS 24-Apr-17 500160 GTL 27-Apr-17
540175 REGENCY 24-Apr-17 532775 GTLINFRA 27-Apr-17
500325 RELIANCE 24-Apr-17 531531 HATSUN 27-Apr-17
519260 SANWARIA 24-Apr-17 509675 HIL 27-Apr-17
506105 STANROS 24-Apr-17 532832 IBREALEST 27-Apr-17
511559 TIMESGTY 24-Apr-17 523207 KOKUYOCMLN 27-Apr-17
532538 ULTRACEMCO 24-Apr-17 500247 KOTAKBANK 27-Apr-17
505412 WENDT 24-Apr-17 532756 MAHINDCIE 27-Apr-17
512165 ABANSENT 25-Apr-17 521018 MARALOVER 27-Apr-17
513149 ACROW 25-Apr-17 532500 MARUTI 27-Apr-17
511196 CANFINHOME 25-Apr-17 523828 MENONBE 27-Apr-17
540133 ICICIPRULI 25-Apr-17 533121 SQSBFSI 27-Apr-17
539437 IDFCBANK 25-Apr-17 531359 SRAMSET 27-Apr-17
532814 INDIANB 25-Apr-17 539268 SYNGENE 27-Apr-17
502330 IPAPPM 25-Apr-17 500408 TATAELXSI 27-Apr-17
532732 KKCL 25-Apr-17 532812 TFL 27-Apr-17
500253 LICHSGFIN 25-Apr-17 532343 TVSMOTOR 27-Apr-17
532720 M&MFIN 25-Apr-17 532729 UTTAMSUGAR 27-Apr-17
539767 MNIL 25-Apr-17 500425 AMBUJACEM 28-Apr-17
531209 NUCLEUS 25-Apr-17 520119 ASAL 28-Apr-17
533179 PERSISTENT 25-Apr-17 531340 BERVINL 28-Apr-17
506975 RAJSPTR 25-Apr-17 532974 BIRLAMONEY 28-Apr-17
517320 SAVINFOCO 25-Apr-17 500878 CEATLTD 28-Apr-17
523164 SIPIND 25-Apr-17 511243 CHOLAFIN 28-Apr-17
500407 SWARAJENG 25-Apr-17 506395 COROMANDEL 28-Apr-17
504961 TATAYODOGA 25-Apr-17 506401 DEEPAKNI 28-Apr-17
531950 VERTEX 25-Apr-17 500120 DIAMINESQ 28-Apr-17
507685 WIPRO 25-Apr-17 500089 DICIND 28-Apr-17
504067 ZENSARTECH 25-Apr-17 500469 FEDERALBNK 28-Apr-17
507886 DHRUVES 26-Apr-17 532659 IDFC 28-Apr-17
500150 FOSECOIND 26-Apr-17 502937 KESORAMIND 28-Apr-17
539009 GBL 26-Apr-17 500245 KIRLFER 28-Apr-17
511676 GICHSGFIN 26-Apr-17 521248 KITEX 28-Apr-17
532400 KPIT 26-Apr-17 526179 LUDLOWJUT 28-Apr-17
500249 KSBPUMPS 26-Apr-17 532504 NAVINFLUOR 28-Apr-17
534690 LAKSHVILAS 26-Apr-17 512522 NEPTEXP 28-Apr-17
507912 LKPFIN 26-Apr-17 519262 PRIMAGR 28-Apr-17
540192 LKPSEC 26-Apr-17 531246 PRIMAIN 28-Apr-17
531265 PROGRESV 26-Apr-17 532983 RPGLIFE 28-Apr-17
506642 SADHNANIQ 26-Apr-17 509930 SUPREMEIND 28-Apr-17
500405 SUPPETRO 26-Apr-17 531003 SWRNASE 28-Apr-17
531638 SURAJLTD 26-Apr-17 500429 UNIPHOS 28-Apr-17
513010 TATASPONGE 26-Apr-17 512070 UPL 28-Apr-17
512064 VISTR 26-Apr-17 532493 ASTRAMICRO 29-Apr-17
 531358 CHOICEIN 29-Apr-17 533148 JSWENERGY 29-Apr-17
533167 COROENGG 29-Apr-17 530243 MANGASOF 29-Apr-17
533761 GPTINFRA 29-Apr-17 540079 SPRAYKING 29-Apr-17
532894 INDOWIND 29-Apr-17 532410 TRANSCOR 29-Apr-17
531841 INDUSFINL 29-Apr-17 532628 3IINFOTECH 30-Apr-17

Earning Estimate Q4FY17

Date NSE CODE SALES SALES YoY PAT PAT YoY
24-Apr-17 ULTRACEMCO 6393 (0.70) 574 (15.80)
24-Apr-17 RELIANCE 68725 37.60 7518 2.70
24-Apr-17 HEXAWARE 932 13.70 109 29.00
24-Apr-17 PERSISTENT 736 8.70 71 (12.60)
24-Apr-17 IBULHSGFIN 1137 9.40 850 25.90
25-Apr-17 WIPRO 13616 (0.10) 1898 (15.10)
25-Apr-17 ZENSARTECH 804 7.70 68 (2.70)
25-Apr-17 IDFCBANK 526 26.30 158 (4.60)
25-Apr-17 INDIANB 1353 19.30 214 153.10
25-Apr-17 LICHSGFIN 1032 25.70 533 18.90
25-Apr-17 M&MFIN 951 (5.00) 279 (24.60)
26-Apr-17 KPIT 828 (1.50) 45 (49.00)
27-Apr-17 MARUTI 18640 21.70 1823 16.80
27-Apr-17 TVSMOTORS 2833 0.60 102 (13.50)
27-Apr-17 BIOCON 1002 6.00 159 114.30
27-Apr-17 TATAELXSI 338 15.00 50 22.00
27-Apr-17 KOTAKBANK 2101 13.10 888 27.60
28-Apr-17 AMBUJACEM 2559 5.80 212 (26.50)
28-Apr-17 COROMANDEL 3051 1.00 129 38.80
28-Apr-17 CEAT 1653 1.50 78 (25.80)
28-Apr-17 FEDERALBNK 804 17.30 183 1687.70
29-Apr-17 JSWENERGY 1970 (26.50) 29 (90.50)

Result Q4FY17
BSE Code NSE CODE SALES SALES YoY PAT PAT YoY
504966 TINPLATE 175.71 (20.06) 10.41 (51.38)
500410 ACC 3663.00 25.13 211.00 (7.03)
505790 FAGBEARING 513.00 24.41 57.40 35.22
501370 WALCHPF 4.66 (31.67) (0.40) (151.95)
500180 HDFCBANK 7453.00 21.00 3374.00 18.00

Narnolia Securities Ltd

 Economic Calendar
Monday Tuesday Wednesday Thursday Friday
Country
24th Apr 17 25th Apr 17 26th Apr 17 27th Apr 17 28th Apr 17

Advance GDP q/q , Advance GDP

Core Durable Goods Orders
Price Index q/q , Employment
CB Consumer Confidence m/m , Durable Goods Orders
Cost Index q/q , Chicago PMI ,
, Richmond m/m , Unemployment Claims ,
US Manufacturing Index ,
Crude Oil Inventories.
Goods Trade Balance ,
Revised UoM Consumer
Sentiment, Revised UoM
New Home Sales. Pending Home Sales m/m,
Inflation Expectations , Treasury
Natural Gas Storage.
Currency Report.

French Prelim GDP q/q , German

German Ifo Business Climate
UK/EURO ZONE , CBI Industrial Order
Expectations.
Spanish Unemployment Rate , Retail Sales m/m , Spanish Flash
French Prelim CPI m/m ,
Belgian NBB Business French Consumer Spending GDP q/q, M3 Money Supply y/y ,
German 30-y Bond
Climate, Public Sector
Auction , CBI Realized
m/m, Spanish Flash CPI y/y , Private Loans y/y , Prelim GDP
Net Borrowing . Minimum Bid Rate , ECB Press q/q , BBA Mortgage Approvals ,
Sales.
Conference. CPI Flash Estimate y/y , Core CPI
Flash Estimate y/y.

INDIA

Narnolia Securities Ltd

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em ail: narnolia@narnolia.com ,
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