21TH FEB 2018

Husains

MARKET WRAP
Benchmark indices wiped out gains in last hour of trade after further correction in rupee that
fell a percent intraday against the US dollar.

The 30-share BSE Sensex was down 71.07 points at 33,703.59 and the 50-share NSE Nifty
declined 18 points to 10,360.40.The market breadth was weak as about 1,464 shares declined
against 1,261 advancing shares on the BSE.

Among midcaps, Tata Global, Biocon, Voltas, Radico Khaitan, Bhushan Steel and Just Dial were
down 1-3 percent while Canara Bank, IDBI Bank, Indian Bank, Union Bank, Fortis Healthcare,
Apollo Tyres, Titan Company and PC Jeweller gained 1-5 percent.

BROAD MARKET INDICES

INDEX P. Close OPEN HIGH LOW CURRENT %CHANGE

NIFTY 50 10387.30 10391.00 10429.35 10347.65 10360.40 -0.17

NIFTY NEXT 50 29158.85 29211.90 29437.10 29081.10 29315.70 0.46

NIFTY MIDCAP 50 5076.60 5071.80 5106.50 5045.90 5065.35 -0.13

NIFTY100 LIQ15 4323.90 4325.75 4355.80 4293.50 4311.35 -0.06

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 ASIAN INDEX
INDEX OPEN HIGH LOW CLOSE %CHANGE
NIKKEI 225 22054.3 22064 21831 21925 -1.02

HANG SENG 31165.3 31340 30720 30874 -0.78

TAIWAN 2433.35 2438.5 2411.2 10421 0.47

SSE 3188.25 3203.5 3171.4 3199.5 0.45

INDIAN MAJOR SECTORAL INDICES

INDEX P. Close OPEN HIGH LOW CURRENT %CHANGE

NIFTY BANK 25097.65 25105.55 25158.10 24829.00 24874.40 -0.73

NIFTY FIN SERVICE 10447.00 10481.80 10498.90 10360.60 10381.10 -0.54

NIFTY IT 12351.20 12272.95 12491.60 12268.55 12372.00 0.33

NIFTY PHARMA 9028.20 9054.45 9086.50 8982.10 9020.75 -0.08

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 STOCK UPDATE
IndiGrid buys into transmission company, completes acquisition
of 3 Sterlite Power assets

IndiGrid, an infrastructure investment Trust (InvIT), has completed the acquisition of three assets
from its sponsor Sterlite Power Grid Venture Ltd.

The Trust has also acquired a 46 per cent stake in the transmission asset of Techno Eletric &
Engineering Company. The asset, Patran Transmission Company Limited, has a sub-station in
Patran, Punjab, and transmission lines that connect Kaithal-Patiala. InvITs are investment
vehicles that own operating infrastructure assets in India.

While the three assets from Sterlite Power will come with a price tag of Rs 1,410 crore, IndiGrid
is acquiring the Patran-stake for Rs 230 crore. The Patran acquisition agreement was signed on
Monday, and will be completed by March.

“Post the acquisitions, IndiGrid’s total portfolio increases to 13 transmission lines and two
substations operational across eight states in India. At present its assets stand at Rs 5,300 crore.

The three assets from Sterlite Power consists of five transmission lines, aggregating 1,425 km.
"All these acquisitions are highly accretive and will increase portfolio IRR to 11 per cent," said
Agrawal. He added that the deals will enable IndiGrid to deliver a DPU (distribution per unit) of
Rs 12 for the next five years.

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 STOCK UPDATE
Rotomac bank fraud: I-T dept attaches 11 bank accounts
After the CBI and the ED, the Income Tax Department has stepped up action against the
Rotomac group and its promoters. Attaching 11 bank accounts in connection with an alleged tax
evasion probe against them, officials said today.

The accounts in various bank branches in Uttar Pradesh were attached last night.The provisional
attachment action has been carried out to "recover outstanding tax demands", understood to be
about Rs 85 crore, the officials said.

Three bank accounts of the group were attached in January last year by the department, they
said. The Kanpur-based group is being probed by the CBI and the Enforcement Directorate in
connection with an alleged bank loan fraud of Rs 3,695 crore, given by a consortium of seven
banks.

The CBI had registered a criminal case against Rotomac Global Pvt Limited, its Director Vikram
Kothari, his wife Sadhana Kothari and son Rahul Kothari and unidentified bank officials on a
complaint received from Bank of Baroda and conducted raids against them yesterday.

It was alleged in the complaint from the Bank of Baroda that conspirators cheated a consortium
of bank loans to the tune of Rs 3,695 crore including the interest component, CBI officials said.

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