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3rd March 2014

MARKET DIARY
SGX NIFTY : 6258 ( 22 pts Down )

Quote of The Day


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MARKET
Value 21120.12 6276.95 16321.71 4308.12 4408.08 9692.08 6809.07 14533.42 22651.52 9931.25 Change 133.13 38.15 49.06 (10.81) 11.69 103.75 (0.57) (307.82) (185.44) 72.92

Chart of the Day Indian Real GDP ( % )

EW ALL SHARE

INSTITUTIONAL TURNOVER
FII Investor 28th,Feb, 14 Buy(Cr.) 6737.21 50552.74 116119.00 DII Investor 28th,Feb, 14 Feb,14 2014 Buy(Cr.) 1334.45 20133.94 45822.35 Sale(Cr.) 1,322.43 19,846.99 46,990.87 Net(Cr.) 12.02 286.95 (1168.52) Sale(Cr.) 6,145.39 49,493.61 1,16,325.75 Net(Cr.) 591.82 1059.13 (206.75)

Index Action-Nifty (28th, Feb, 14)

Feb,14 2014

Contents News Economic calendar Result Calendar

Index

Page 2 3 3

Coverage UPDATE UPDATE UPDATE

COMMODITY PRICE COMMODITY/CURRENCIES Value GOLD 30090.00 SILVER 46362.00 CRUDEOIL 110.93 COPPER NATURALGAS DOLLAR/RS. EURO/RS. POUND/RS. 440.20 288.10 61.77 85.13 103.47

Narnolia Securities Ltd.


124, 1st floor 7/1, Lords Sinha Road Kolkata -700071. Ph 033-22821500/01/02/03/04 Mob : 9830013196 email: research@narnolia.com, website : www.narnolia.com

Markets Snapshot
Top Price Performers Top Performers 1D PDPL ASHAPURMIN INDOCO SANWARIA TATAELXSI Worst Price Performers Worst Performers 1D DHANUS LAKSHMIEFL SUNDARAM IMPEXFERRO LOTUSEYE % Change (14.29) (11.42) (9.77) (9.74) (9.21) Worst Performers 1W SUNDARAM STRAUSIND COROENGG MAHAPOL BIRLAPOWER % Change (52.85) (28.00) (22.35) (21.94) (21.43) Worst Performers 1M SUNDARAM WARRENTEA WESTE REISIXTEN MARG % Change (55.40) (46.02) (40.96) (38.38) (33.82) % Change 19.85 15.88 13.56 13.16 13.00 Top Performers 1W KOTHARIPRO MAHINDFORG MAHINDUGIN GLOBALVECT RMCL % Change 37.10 33.91 32.34 27.32 27.25 Top Performers 1M KOTHARIPRO RMCL GLOBOFFS SPECTACLE TRANSCORP % Change 106.74 104.71 95.87 90.20 88.52

Top News :
Jaiprakash Power Venture Ltd or JPVL, the Jaiprakash Group's flagship company, will sell its two hydropower plants to a grouping led by Abu Dhabi government-owned utility Taqa for $1.8-2 billion (Rs 11,500-12,500 crore) as part of an asset-disposal plan aimed at trimming a part of the group's Rs 60,000 crore debt. The government will sell a 5 percent stake in power equipment manufacturer BHEL to state-owned Life Insurance Corporation of India, fetching the exchequer about Rs 2,046 crore. BHEL disinvestment will happen this fiscal through a block deal to LIC . Power Grid Corporation of India Ltd has moved the Delhi High Court against the Income Tax department's demand of Rs 872 crore as tax on charges collected by it from defaulting states. In its petition, Power System Operation Corporation Limited (POSOCO), said the Central Electricity Regulatory Commission (CERC) has devised a commercial mechanism to penalise those who breach discipline of the grid, while drawing power, and compensating those impacted by such breach. Tech Mahindra is looking to acquire promoter's stake in FT ( Financial technologies ) as well as its debt. Further, the committee has assured that there will be independence of acquisition from NSEL investors. Tech Mahindra executives met some representatives of the committee to explore initial contours of the deal. Rakesh Jhunjhunwala's firm Rare Enterprises picked up 15 lakh shares of HT Media for nearly Rs 11 crore through open market route. Rare Enterprises has bought the company's scrips on an average price of Rs 71.25 apiece, valuing the transaction at Rs 10.69 crore, as per bulk deal data available with BSE. Oriental Bank of Commerce has raise Tier II Capital to the extent of Rs. 1000 crore (Rupees one thousand crore only) through issue of Basel III compliant Tier II Bonds on private placement basis. Voltas has formed a 50:50 joint venture with Dow Chemical Pacific (Singapore) Pte to market and distribute standard packaged water treatment systems and waste water treatment systems. CCEA has hiked fixed costs by Rs. 300/ Tonne for urea plants. The cabinet has cleared several big ticket proposals and ordinances including hiking dearness allowance. It has also okayed an ordinance to amend the securities law and give SEBI more powers. Maruti Feb , 2014 Auto Sales No : -0.4 % ( YoY ) , +6.5 % ( MoM ) . TVSMotor Feb , 2014 Auto Sales No : +7.2% ( YoY ) , -4.6% ( MoM ) . Atul Auto Feb , 2014 Auto Sales No : +19.0 % ( YoY ) , -6.8 % ( MoM ) Chinese Manufacturing PMI fell to an annual rate of 50.2, from 50.5 in the preceding month. Analysts had expected Chinese Manufacturing PMI to fall to 50.1 last month. Q3FY14 Indian GDP 4.7 % Vs 4.5 % ( YoY ) Expectation 4.8 % . Fram Sector growth 3.6 % vs 1.1 % ( YoY ) . Manufacturing sector Growth @ 1.9 % Vs 2.5 % ( YoY ). Mining Sector Growth @ -1.6 % vs -2 % ( YoY ) . Construction Sector Growth @ 0.6 % vs 1% ( YoY ) . Trade, hotels, transport and communication sector growth at 4.3 %Vs 5.9 % ( YoY ) . Electricity, gas & water supply Sector Growth at 5.0 %Vs 2.6 % ( YoY ) . Community, social & personal services sector Growth @ 7.0 % Vs 4% ( YoY ) . Industry Sector Growth @ -0.7 % vs 1.7 % ( YoY ) .Service Sector Growth @ 7.6 % Vs 6.9 % ( YoY ).

Management Tweets :
Firstsource Solutions Mgt Guideline : Company aims to clock a revenue growth of 9-10 percent for FY14 . The net profit for the company is likely to be between Rs 180-185 crore for FY14 . Margin expansion will also flow through on back of interventions done over the last 12 months like weeding out of non-profitable accounts and weeding out lines of businesses that were bleeding cash . The margin improvement at the EBITDA level, company see at least another 150 basis points improvement in FY15 . Titan Mgt Guideline : The Reserve Bank of India (RBI) has given approval to Titan for hedging of gold on international exchanges. All the gold that company is buying, company will be able to hedge through the authorised banks in India, both on the gold front which might be on the commodity exchange internationally, and on the USD-INR rate in India. So,company would be able to hopefully take longer contracts. Company dont need to roll them over very frequently and that would be very beneficial for company . Mgt believe jewellery demand is still subdued given the weak discretionary spending environment . Godrej Consumer Products Mgt Guideline : Company is confident of maintaining growth going forward . Fluctuations seen in currencies of markets like Argentina, South Africa and Indonesia are unlikely to impact the companys margins. Because most of our materials are bought locally and selling is also locally . Though weak sentiment & slowdown emerging markets , the company is on track to achieve 10 times growth in 10 years , which means a compounded annual growth rate (CAGR) of 26 percent . Result Calendar Q3FY14 Bse Code 513063 Company Name Transfreight Co Date 12-Mar-14 Bse Code 526299 Company Name Mphasis Date 13-Mar-14

Result Q3FY14 NSE Code SANOFI SKFINDIA VESUVIUS STOVACQ CLNINDIA BOSCHLTD GOODRICKE SHREDIGCEM Bse Code 500674 500472 520113 504959 506390 500530 500166 502180 SALES ( Cr.) 461.1 599.4 155.34 22.5 280.65 2162 264.83 75.89
Economic Calendar
Monday 3-Mar-14 Tuesday 4-Mar-14 Wednesday 5-Mar-14 Thursday 6-Mar-14 Friday 7-Mar-14

SALES Gr ( % ) 9.10 15.70 1.20 (4.70) (3.30) 1.40 11.70 3.60

PAT ( Cr.) 92.70 48.30 13.59 2.40 (6.10) 138.98 25.94 (12.84)

PAT ( % ) 106.90 50.00 (23.00) (8.40) (127.70) (19.20) 36.70 (324.50)

US

Core PCE Price Index m/m , Personal Spending m/m , ISM Manufacturing PMI , Total Vehicle Sales , Construction Spending m/m .

IBD/TIPP Economic Optimism .

ADP Non-Farm Employment Change , ISM FOMC Member Dudley Speaks , Non-Manufacturing PMI , Final Services Unemployment Claims , Revised Nonfarm PMI , ISM Non-Manufacturing PMI , Crude Productivity q/q , Revised Unit Labor Costs Oil Inventories , Beige Book , FOMC q/q , Factory Orders m/m , FOMC Member Member Fisher Speaks . Plosser Speaks .

Non-Farm Employment Change , Trade Balance , Unemployment Rate , Average Hourly Earnings m/m , FOMC Member Dudley Speaks .

UK/EURO ZONE

Spanish Manufacturing PMI , Italian Manufacturing PMI , Manufacturing PMI , Net Lending to Individuals m/m , M4 Money Supply m/m , Mortgage Approvals , ECB President Draghi Speaks .

Spanish Unemployment Change , Halifax HPI m/m , Construction PMI , PPI m/m .

Spanish 10-y Bond Auction , French 10-y Spanish Services PMI , Italian Services PMI Bond Auction , German Factory Orders m/m , Final Services PMI , Services PMI , Retail , Asset Purchase Facility , Official Bank Rate , Sales m/m , Revised GDP q/q . MPC Rate Statement , Minimum Bid Rate .

German Industrial Production m/m , Consumer Inflation Expectations .

INDIA

Auto sales no .HSBC manufacturing PMI data

HSBC India Services PMI , HSBC India Composite PMI .

N arnolia Securities Ltd


402, 4th floor 7/ 1, Lord s Sinha Road Kolkata 700071, Ph 033-32011233 Toll Free no : 1-800-345-4000 em ail: research@narnolia.com , w ebsite : w w w .narnolia.com

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