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WWW.EQUITYRESEARCHLAB.COM 1
WWW.EQUITYRESEARCHLAB.COM 2
Rush at Automobile
dealers on 31st March?

You must have heard about the rush at

automobile dealers on 31st march
2016.Rumours were in the air about the
high discount available for the day cause
companies are planning to drop the prices
for all the vehicle from the April 1,2017.was
it a true ? Yes but only half! Discount on
vehicle was available because government
air pollutions can caused several
adopted Bharat Stage IV norms from 01st
cardiovascular and respiratory diseases,
April, 2017 suspending the Bharat Stage
which is calculated to be cause for almost
(BS) III norms. Bharat Stage (BS) III norms
half a million early death in 2010.In 1991,
have been enforces across the country
first emission norms were introduced for
since October 2010.
petrol and in 1992 for diesel vehicles in
India. Recently, Bharat stage (BS) IV norms
has been enforced across the country but it
Bharat stage emission standards (BSES) are
was already been placed in major 13 cities
standards instituted by the Government of
of the nation in April 2010.In, 2016,
India to regulate the output of air pollutants
Government of India Announced that they
from internal combustion engines and spark
would skip Bharat Stage (BS)-V norms and
ignition engines equipments, including
will adopt Bharat Stage (BS)-IV norms till
motor vehicles. The standards and the
2020.
timeline for the implementation are set the
Central pollution control board. This is Standard Reference Date
Bharat Stage Euro 2 1 April 2005
established under the ministry of
II
environment & forest and climate change. Bharat Stage Euro 3 1 April 2010
III
Bharat Stage Euro 4 1 April 2017
IV
These standards are parented by European Bharat Stage Euro 6 April 2020
VI (proposed)
regulation which was first introduced in
Table: Indian Emission Standards (2 and 3 wheelers)
2000. After that, these norms are keeps on
changing by time to time. All the Bharat Stage vs. Euro Norms
manufacturers have to implement these
The Bharat Stage norms are constructed to
norms with their vehicles. These norms
meet the needs and demands according to
contain the regulations which help in
the environmental conditions of India. The
lowering the pollution levels. Exposure to
difference between Bharat Stage and euro

WWW.EQUITYRESEARCHLAB.COM 3
norms are found only when its about
geographical and environmental needs and
conditions else emissions standards are
same.
For instance, Bharat Stage (BS) III is tested
between 24C and 28C whereas Euro-III is
tested at subzero temperature. Another
major distinction is the maximum speed at
which the test is performed. For, Bharat
Stage (BS)-III is tested at 90Km/h whereas in
euro norms it is stipulated at 120 km/h
keeping the emissions limit at the same for
the both.
Ashok Leyland says over
10,000 Vehicles impacted by
BS-III Ban
The Hinduja flagship firm "Ashok Leyland"
said they are having 10,664 units of
commercial vehicles which are based on BS-
III norms. Firm will be impacted by ban on
BS-III by supreme court but they have found
a way to make this financial hit as minimal
as they introduced a technology called
"Intelligent exhaust gas re- circulation
Technology (iEGR) which will be used to
upgrade all the vehicles to make them
compatible with BS-IV but this will increase
the cost of vehicle by 8-10%.
According to Vinod K Dasari, Managing
Director of Ashok Leyland and president of
WWW.EQUITYRESEARCHLAB.COM
society of Indian automobile manufacturers
(SIAM), Out of a total 10664 units of
different vehicles from different product
line, 95% were with them not with the
dealers. R&D team will start upgrading their
engines with specifically developed iEGR.
Generally, BS-III engines costs around 1.5
lakh rupees but after upgrading it going to
cost around 2 lakh rupees. Dasari said BS-IV
based engines with iEGR will have 10%
more fuel efficiency and can be optimized
for engines up to 400 horse power. He
added, last month when Supreme Court
had banned sale and registration of vehicles
with the BS-III emission norms industry got
saddled with a stock over 8 lakh vehicles
worth Rs. 20,000 crore.
Ashok Leyland
90
88
86
84
82
80
78
76
4
Honda Activa creates new records,
Sells 15 million units
Activa, a flagship model from the second
largest two-wheeler maker Honda has sold
15 million units since its launch in
2001.Kato said, In past seven years, the
contribution of scooter segment in the
industry has doubled from 16% to
WWW.EQUITYRESEARCHLAB.COM
32%.Yadvinder singh guleria, senior vice
president for sales and marketing, enlighten
the success and market leadership of activa
in the industry. He added, Honda
contributed to bringing out the technology
like combi-break system, first automatic
scooter years before to be mandatory by
2019.
5
 recently other countries like Australia has
also begun the same providing temporary
visas.

IT firms like Tata consultancy services (TCS),

Wipro and Infosys have become the
political target for the newly formed
government in U.S.

Sikka added, Infosys has already hired

about 2,000 U.S. based workers since
2014.Infosys, who employs over 2,00,000
employees collectively from all over the
U.S government world going to hire 10,000 U.S workers but
investors point of view attracting the fact
juggling with H-1B will these 10,000 worker will able to
provide the needed skilled services to the
visa reforms company.

H-1B visa reforms effect: Infosys planned to IT industry in U.S. is consistently getting hit
hire up to 10000 workers from US by events like BREXIT, U.S immigration laws
etc. This led some U.S. clients to put their
Donald Trump: Buy America Hire America
projects on hold.
Donald trump stated clearly in various
Infosys cautioned last month that it will be
rallies before U.S. presidential elections
a hard task for them to achieve $20 billion
that he want more jobs for the Americans.
revenue target by the year 2020 if the
He targeted the industry which is importing
industry keep on getting hit like this.
the most of the rest. Infosys, India based IT
giant announced to hire 10,000 U.S.
workers reacting on changes in H-1B visa
norms. Sikka Said, when we think from U.S.
point of view, we should work on creating
more American jobs and opportunities for
the nation and residents. Words are
floating the air that Infosys has applied just
1,000 visas under H-1B this year in
comparison to 6,500 in 2016 and around
9,000 in 2015.The united states is the
largest market for IT companies but

WWW.EQUITYRESEARCHLAB.COM 6
RBI GAINED MORE POWER TO DIRECT BANKS
The ordinance failed to gain much confidence towards resolving the drilling Banking sector.

Banking sectors is suffering from NPA Government is trying hard to get rid of the
problem since so long that government NPA bug from its core sector. On 05th May,
keep coming with the ideas to lower it. Government announced the ordinance but
it failed to impress investors as Nifty PSU
NPA concept was implemented by
bank index fell 1.8%, Nifty private bank
Narasimhan committee. Before the
index fell to 0.4%.
introduction of NPA concept, banks
adopted the Health Code 1 to Health Code
10 to denote the different category of bad
loans.

Recently, Government of India empowered

Reserve bank of India to issue directions to
the banks to initiate insolvency process for
the defaulting firms under the bankruptcy
code. Chart: Nifty bank Index Intraday chart (05th May 2017)

Government empowers RBI to look into the
stressed accounts and provide resolutions
to the banks. In the announced ordinance,
RBI empowers to form a committee to
provide various resolutions to the bank of
their stressed accounts. Market
Capitalization of total 24 listed public sector
banks have fallen to 4.3% since November
2010.
Public sector banks (PSBs) struggling with
the mounting NPAs is seeing their
valuation getting eroded the most. In past
five years, RBI has come out with several
schemes as a resolution for bad loans, but
not a single scheme had satisfied the banks.

WWW.EQUITYRESEARCHLAB.COM 7
 As On March 31
Gross NPAs Net NPAs
As on Write- As on As on As on
Addition Reduction
Bank March off March March March
during during
Year 31 during 31 31 31
the the
(Previous the (current (previous (current
Year Year
year ) Year year) year) year)
STATE BANK OF
BIKANER & 29451 27195 12095 8523 36028 17692 20052
JAIPUR
STATE BANK OF
49848 58188 30087 12039 65909 23485 37432
HYDERABAD
STATE BANK OF
567253 641985 69878 157633 981728 275906 558070
INDIA
STATE BANK OF
21364 35734 14862 5880 36356 11216 22572
MYSORE
STATE BANK OF
43597 92309 56679 11562 67666 30492 32682
2016 PATIALA
STATE BANK OF
23571 52362 36433 7500 32000 13987 18137
TRAVANCORE
STATE BANK OF
BIKANER & 29451 27195 12095 8523 36028 17692 20052
JAIPUR
STATE BANK OF
INDIA & ITS 735085 907772 220033 203138 1219686 372777 688944
ASSOCIATES

Sources: RBI Website

As On March 31
Gross NPAs Net NPAs
As on Write- As on As on As on
Addition Reduction
Bank March off March March March
during during
Year 31 during 31 31 31
the the
(Previous the (current (previous (current
Year Year
year ) Year year) year) year)
AXIS BANK 41102 73446 20447 33225 60875 13167 25221

BANDHAN BANK 0 188 - - 188 - 102

CATHOLIC
SYRIAN BANK 4748 4031 2887 1423 4469 3646 3452
LTD
CITY UNION
3358 4290 1281 1248 5120 2328 3232
BANK LIMITED
2016 DCB BANK
1861 2255 1544 598 1974 1057 975
LIMITED
DHANLAXMI
5583 2508 2384 1118 4589 2526 1932
BANK
FEDERAL BANK 10577 18954 8333 4521 16678 3733 9500

HDFC BANK 34384 57126 28158 19424 43928 8963 13204

ICICI BANK 150947 167109 26290 29553 262213 62555 129631

Sources: RBI Website

WWW.EQUITYRESEARCHLAB.COM 8
 As On March 31
Gross NPAs Net NPAs
As on Write- As on As on As on
Addition Reduction
Bank March off March March March
during during
Year 31 during 31 31 31
the the
(Previous the (current (previous (current
Year Year
year ) Year year) year) year)
IDFC BANK 0 34249 3666 - 30583 - 11390

INDUSIND BANK 5629 8487 3541 2807 7768 2105 3218

JAMMU &
KASHMIR BANK 27641 23832 4507 3280 43686 12363 21640
LTD
KARNATAKA
9442 11251 5838 3051 11804 6236 7955
BANK LTD
KARUR VYSYA
6778 11334 3574 9426 5112 2810 2162
BANK
KOTAK
2016 MAHINDRA 12372 28661 9761 2891 28381 6091 12620
BANK LTD
LAKSHMI VILAS
4546 1969 1910 693 3913 3025 2316
BANK
NAINITAL BANK 774 575 155 1 1194 - 277

RBL 1112 1997 300 728 2081 386 1244

SOUTH INDIAN
6435 16097 5196 1712 15624 3571 11853
BANK
TAMILNAD
MERCANTILE 3187 5209 3214 993 4189 1355 2007
BANK LTD
PRIVATE SECTOR
333610 482677 135155 119275 561857 136793 266774
BANKS
Sources: RBI Website

WWW.EQUITYRESEARCHLAB.COM 9
 As On March 31
Gross NPAs Net NPAs
As on Write- As on As on As on
Addition Reduction
Bank March off March March March
during during
Year 31 during 31 31 31
the the
(Previous the (current (previous (current
Year Year
year ) Year year) year) year)
ALLAHABAD
83580 129248 22430 36552 153846 59789 102925
BANK
ANDHRA BANK 68765 63320 9506 8143 114436 36886 60357
BANK OF
162614 278284 20146 15542 405210 80695 194065
BARODA
BANK OF INDIA 221932 345106 44963 23284 498791 135176 279964
BANK OF
64021 57239 8367 9033 103859 41758 68320
MAHARASHTRA
BHARATIYA
MAHILA BANK 0 14 - - 14 - 14
LTD.
CANARA BANK 130400 247241 27392 33870 316378 87401 208329
CENTRAL BANK
118730 151450 30180 12790 227210 68070 132420
OF INDIA
CORPORATION
71067 105820 6496 24948 145443 44650 91601
BANK
DENA BANK 43930 60985 11713 7597 85605 30143 52305

2016 IDBI BANK

126850 190866 14371 54594 248751 59925 146434
LIMITED
INDIAN BANK 56704 57038 16208 9264 88270 31470 54194
INDIAN
149225 209984 37446 21276 300486 98133 192126
OVERSEAS BANK
ORIENTAL BANK
76662 103714 16683 16677 147017 48162 99322
OF COMMERCE
PUNJAB AND
30822 19599 4777 3354 42291 22660 29495
SIND BANK
PUNJAB
256949 422518 56435 64848 558183 153965 354226
NATIONAL BANK
SYNDICATE
64424 122005 33811 14297 138322 38437 90149
BANK
UCO BANK 102651 149424 27264 15732 209077 63306 114436
UNION BANK OF
130309 129529 10213 7916 241709 69190 140259
INDIA
UNITED BANK OF
65529 50111 14435 6494 94710 40814 61107
INDIA
VIJAYA BANK 24432 58356 17419 5099 60271 16597 42768
NATIONALISED
2049595 2951849 430255 391311 4179878 1227226 2514814
BANKS
Sources: RBI Website

WWW.EQUITYRESEARCHLAB.COM 10
RESULTS CALENDAR

Board Board
Symbol Company Purpose Meeting Symbol Company Purpose Meeting
Date Date
GlaxoSmithKline
Consumer
CANBK Canara Bank Results/Dividend 08-May-17 GSKCONS Results/Dividend 11-May-17
Healthcare
Limited
Welspun
Investments and Granules India
WELINV Results 08-May-17 GRANULES Results/Dividend 11-May-17
Commercials Limited
Limited
Welspun Corp Nilkamal
WELCORP Results/Dividend 08-May-17 NILKAMAL Results/Dividend 11-May-17
Limited Limited
Bharti Infratel Asian Paints
INFRATEL Results 08-May-17 ASIANPAINT Results/Dividend 11-May-17
Limited Limited
Mangalam HCL
MANGALAM Drugs And Results/Others 08-May-17 HCLTECH Technologies Results/Dividend 11-May-17
Organics Limited Limited
Glenmark
VLS Finance
VLSFINANCE Results/Dividend 08-May-17 GLENMARK Pharmaceuticals Results/Dividend 11-May-17
Limited
Limited
ABB India Gujarat Pipavav
ABB Results 08-May-17 GPPL Results/Dividend 11-May-17
Limited Port Limited
Bharti Infratel Igarashi Motors
INFRATEL Results/Dividend 08-May-17 IGARASHI Results/Dividend 11-May-17
Limited India Limited
Century Textiles
NOCIL NOCIL Limited Results/Dividend 08-May-17 CENTURYTEX & Industries Results/Dividend 12-May-17
Limited
Jayshree Tea &
Havells India
JAYSREETEA Industries Results/Dividend 08-May-17 HAVELLS Results/Dividend 12-May-17
Limited
Limited
Union Bank of Srikalahasthi
UNIONBANK Results/Dividend 08-May-17 SRIPIPES Results/Dividend 12-May-17
India Pipes Limited
Inox Wind
DENABANK Dena Bank Results/Dividend 09-May-17 INOXWIND Results 12-May-17
Limited
NELCO NELCO Limited Results 09-May-17 UCOBANK UCO Bank Results 12-May-17
Future Retail Oriental Bank of
FRETAIL Results/Dividend 09-May-17 ORIENTBANK Results/Others 12-May-17
Limited Commerce
Dr. Reddy's
Hitech Plast
HITECHPLAS Results/Dividend 09-May-17 DRREDDY Laboratories Results/Dividend 12-May-17
Limited
Limited
Shemaroo
Dr. Lal Path
SHEMAROO Entertainment Results/Dividend 09-May-17 LALPATHLAB Results/Dividend 12-May-17
Labs Ltd.
Limited
Bharti Airtel Jindal Stainless
BHARTIARTL Results 09-May-17 JSL Results 12-May-17
Limited Limited
La Opala RG Idea Cellular Board meeting
LAOPALA Results/Dividend 09-May-17 IDEA 13-May-17
Limited Limited Rescheduled
The Karnataka
ALEMBICLTD Alembic Limited Results/Dividend 09-May-17 KTKBANK Results/Dividend 13-May-17
Bank Limited
Godrej
Consumer
GODREJCP Results/Dividend 09-May-17 BPL BPL Limited Results 13-May-17
Products
Limited
Thyrocare
Central Bank of
THYROCARE Technologies Results 09-May-17 CENTRALBK Results 13-May-17
India
Limited
InterGlobe JK Cement
INDIGO Results 09-May-17 JKCEMENT Results/Dividend 13-May-17
Aviation Limited Limited
Elgi Equipments Bata India
ELGIEQUIP Results/Dividend 09-May-17 BATAINDIA Results/Dividend 15-May-17
Limited Limited
Gabriel India
SYNDIBANK Syndicate Bank Results/Dividend 09-May-17 GABRIEL Results 15-May-17
Limited
Petronet LNG
PETRONET Results/Dividend 09-May-17 ATLANTA Atlanta Limited Results/Dividend 15-May-17
Limited

WWW.EQUITYRESEARCHLAB.COM 11
 Board Board
Symbol Company Purpose Meeting Symbol Company Purpose Meeting
Date Date
TRIDENT Trident Limited Results/Dividend 09-May-17 VEDL Vedanta Limited Results 15-May-17
The South
Blue Star
BLUESTARCO Results/Dividend 09-May-17 SOUTHBANK Indian Bank Results/Dividend 15-May-17
Limited
Limited
Mangalore
Refinery and
MAJESCO Majesco Limited Results/Others 09-May-17 MRPL Results/Dividend 15-May-17
Petrochemicals
Limited
Chennai
InterGlobe Petroleum
INDIGO Results/Dividend 09-May-17 CHENNPETRO Results/Dividend 15-May-17
Aviation Limited Corporation
Limited
Gujarat Mineral
Development Dhanlaxmi Bank
GMDCLTD Results/Dividend 09-May-17 DHANBANK Results 16-May-17
Corporation Limited
Limited
Transport
Board meeting
VIJAYABANK Vijaya Bank Results/Dividend 09-May-17 TCI Corporation of 16-May-17
Rescheduled
India Limited
SREI
Shree Cements
SREINFRA Infrastructure Results/Dividend 09-May-17 SHREECEM Results/Dividend 16-May-17
Limited
Finance Limited
Hero MotoCorp Punjab National
HEROMOTOCO Results/Dividend 10-May-17 PNB Results 16-May-17
Limited Bank
Capital First JK Paper
CAPF Results/Dividend 10-May-17 JKPAPER Results/Dividend 16-May-17
Limited Limited
HIKAL Hikal Limited Results/Dividend 10-May-17 ANDHRABANK Andhra Bank Results 16-May-17
Grasim
KEI Industries
KEI Results/Dividend 10-May-17 GRASIM Industries Results/Dividend 16-May-17
Limited
Limited
8K Miles Transport
8KMILES Software Results/Dividend 10-May-17 TCI Corporation of Results 17-May-17
Services Limited India Limited
Idea Cellular Bajaj Finance
IDEA Results/Others 10-May-17 BAJFINANCE Results/Dividend 17-May-17
Limited Limited
Himachal
Futuristic JSW Steel
HFCL Results/Dividend 10-May-17 JSWSTEEL Results/Dividend 17-May-17
Communications Limited
Limited
Zee
Entertainment JK Lakshmi
ZEEL Results/Dividend 10-May-17 JKLAKSHMI Results/Dividend 17-May-17
Enterprises Cement Limited
Limited
Bajaj Finserv
SIEMENS Siemens Limited Results 10-May-17 BAJAJFINSV Results/Dividend 17-May-17
Limited
Himadri
Speciality Rane Brake
HSCL Results/Dividend 10-May-17 RBL Results 17-May-17
Chemical Lining Limited
Limited
Hindustan
Dalmia Bharat
DALMIABHA Results/Dividend 10-May-17 HINDUNILVR Unilever Results/Dividend 17-May-17
Limited
Limited
Vinati Organics Hindustan
VINATIORGA Results/Dividend 10-May-17 HINDCOPPER Results/Dividend 17-May-17
Limited Copper Limited
Pidilite
Century Enka
CENTENKA Results/Dividend 10-May-17 PIDILITIND Industries Results/Dividend 18-May-17
Limited
Limited
Sical Logistics Aditya Birla
SICAL Results 10-May-17 ABIRLANUVO Results 18-May-17
Limited Nuvo Limited
SML Isuzu Karur Vysya
SMLISUZU Results/Dividend 10-May-17 KARURVYSYA Results/Dividend 18-May-17
Limited Bank Limited
Bajaj Holdings &
ARVIND Arvind Limited Results/Dividend 11-May-17 BAJAJHLDNG Investment Results/Dividend 18-May-17
Limited

WWW.EQUITYRESEARCHLAB.COM 12
MUTUAL FUND SCOREBOARD

EQUITY

Large Cap
Assets (Rs. RETURNS(%) as on May 05, 2017
NAV
Cr.) 1 MTH 3MTH 6MTH 1YR 2YR* 3YR*
ICICI Pru Top 100 Fund (G 1,546.32 295.17 0.3 5 13.4 30.7 11.7 17.1
Kotak Select Focus Fund - Regular (G) 6,335.80 29.95 2.8 9.5 14.3 33.7 15.4 25.4
SBI Blue Chip Fund (G) 8,582.51 34.23 1 7 8.8 20.2 10.8 21.3

Small & Mid Cap

Assets (Rs. RETURNS(%) as on May 05, 2017
NAV
Cr.) 1 MTH 3MTH 6MTH 1YR 2YR* 3YR*
Birla SL Small and Midcap Fund 422.72 37.15 4.6 16.1 20.4 47.6 24.5 34.1
DSP-BR Micro Cap Fund RP(G) 4258.41 60.37 2.6 10.6 14.9 39.8 23.2 41.5
Mirae Emerging Blue chip Fund (G) 2785.30 44.86 4.3 13.8 18.9 46.2 24.2 36.7

Diversified Equity
Assets (Rs. RETURNS(%) as on May 05, 2017
NAV
Cr.) 1 MTH 3MTH 6MTH 1YR 2YR* 3YR*
Birla Sun Life Equity Fund (G) 3391.00 636.39 1.0 5.6 10.2 33.9 15.3 24.7
Birla SL India Gen next(G) 449.36 69.54 2.0 8.5 10.3 30.8 15.03 25.8
Principal Emerging Blue chip (G) 695.81 94.17 2.9 11.3 16.3 40.1 18.0 31.9

Infrastructure
Assets RETURNS(%) as on May 05, 2017
NAV
(Rs. Cr.) 1 MTH 3MTH 6MTH 1YR 2YR* 3YR*
DSP-BR Natural Resources RP(G) 123.29 30.77 1.2 5.8 20.8 60.9 30.4 30.4
L&T Infrastructure (G) 264.38 15.06 3.0 13.1 23.1 48.4 17.8 28.5

ELSS
Assets RETURNS(%) as on May 05, 2017
NAV
(Rs. Cr.) 1 MTH 3MTH 6MTH 1YR 2YR* 3YR*
DSP-BRTax Saver Fund(G) 1757.06 42.19 1.7 7.2 12.7 32.8 15.7 24.6
Principal Tax Savings 287.63 184.58 3.1 11.5 16.0 37.4 15.2 22.5
*Returns over 1 Year are annualised

WWW.EQUITYRESEARCHLAB.COM 13
MUTUAL FUND SCOREBOARD

DEBT

Debt Long Term

Assets RETURNS(%) as on May 05, 2017
NAV
(Rs. Cr.) 1 MTH 3MTH 6MTH 1YR 2YR* 3YR*
Can Robeco Dynamic Bond- RP (G) 270.42 18.94 0.2 - 4.0 12.1 9.4 10.8
UTI Bond Fund (G) 1115.08 50.02 0.2 - 4.7 12.3 9.3 10.8

Debt Short Term

Assets RETURNS(%) as on May 05, 2017
NAV
(Rs. Cr.) 1 MTH 3MTH 6MTH 1YR 2YR* 3YR*
IDFC SSIF MTP Regular (G) 2086.34 27.83 0.3 1.1 3.6 8.9 8.4 9.0
LIC Income Plus Fund (G) 131.95 20.64 0.4 1.4 3.3 7.6 7.1 7.1

Ultra Short Term Debt

Assets RETURNS(%) as on May 05, 2017
NAV
(Rs. Cr.) 1 MTH 3MTH 6MTH 1YR 2YR* 3YR*
Indiabulls Ultra Short Term (G) 101.07 1588.2 0.6 1.8 4.0 8.4 8.4 8.8

GILT Long Term

Assets RETURNS(%) as on May 05, 2017
NAV
(Rs. Cr.) 1 MTH 3MTH 6MTH 1YR 2YR* 3YR*
Reliance Glit Sec. RP (G) 585.50 21.90 0.1 - 0.7 3.7 12.8 10.2 12.4
UTI Glit Advantage LTP (G) 232.63 36.99 0.2 0.2 6.7 15.9 10.4 13.1
*Returns over 1 Year are annualised

HYBRID

MIP Aggressive
Assets RETURNS(%) as on May 05, 2017
NAV
(Rs. Cr.) 1 MTH 3MTH 6MTH 1YR 2YR* 3YR*
Birla SL MIP II- Wealth 25 (G) 1571.67 36.56 1.0 2.6 6.2 19.9 12.1 16.1
ICICI Prudential MIP 25 (G) 1217.91 36.94 0.7 2.5 6.0 15.8 10.1 13.7
*Returns over 1 Year are annualised

WWW.EQUITYRESEARCHLAB.COM 14
DERIVATIVE CORNER

Rollover Report
Top 10 Stocks Rollover

3 Month Rollover
Scrip Rollover % Closing Price Price Change %
Avg. %
IRB 93.15% 88.34% 256.65 8%
BHARATFIN 92.18% 84.86% 798.15 -2%
CASTROLIND 91.32% 90.54% 435.75 1%
TATAGLOBAL 91.11% 92.36% 153.05 1%
FEDERALBNK 90.03% 83.06% 94.95 4%
SOUTHBANK 89.74% 89.95% 24.8 22%
GRANULES 89.48% 86.67% 151.8 8%
JPASSOCIAT 89.43% 88.19% 13.7 -3%
ICIL 89.39% 86.89% 204.3 4%
PETRONET 89.36% 81.05% 433.3 8%

Bottom 10 Stocks Rollover

3 Month Rollover
Scrip Rollover % Closing Price Price Change %
Avg. %
BANKINDIA 53.64% 81.69% 166.4 19%
HCLTECH 55.50% 79.60% 807.05 -7%
PNB 56.46% 79.80% 160.65 8%
TCS 57.28% 71.41% 2297.7 -6%
JUBLFOOD 58.41% 69.67% 1026.55 -8%
UPL 58.45% 81.78% 821.4 15%
HDFC 58.90% 66.45% 1574.8 3%
NIITTECH 61.28% 73.61% 464.65 10%
ORIENTBANK 61.48% 83.02% 158.45 14%
ITC 61.51% 73.46% 286.9 1%

Stocks Rollover

3 Month Rollover
Scrip Rollover % Closing Price Price Change %
Avg. %
ABIRLANUVO 81.87% 90.27% 1667.65 8%
ACC 72.56% 79.68% 1644.75 15%
ADANIENT 82.51% 84.60% 115.15 8%
ADANIPORTS 74.30% 77.17% 324.65 -5%
ADANIPOWER 82.04% 90.53% 33.05 -18%
AJANTPHARM 64.98% 79.95% 1653.35 -6%
ALBK 72.50% 71.52% 78.35 7%
AMARAJABAT 74.78% 74.62% 887.6 1%
AMBUJACEM 74.29% 74.88% 251 7%
ANDHRABANK 75.87% 62.44% 66.15 14%

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Stocks Rollover

3 Month Rollover
Scrip Rollover % Closing Price Price Change %
Avg. %
APOLLOHOSP 84.45% 83.43% 1253.7 8%
APOLLOTYRE 82.29% 89.07% 249.35 19%
ARVIND 73.58% 81.96% 404.5 3%
ASHOKLEY 79.30% 85.83% 87.25 4%
ASIANPAINT 76.35% 80.50% 1110.3 3%
AUROPHARMA 76.97% 82.91% 610.75 -10%
AXISBANK 78.37% 75.96% 509 2%
BAJAJ-AUTO 65.93% 75.98% 2880.7 2%
BAJFINANCE 66.45% 79.02% 1293.85 9%
BANKBARODA 70.47% 76.51% 182.4 5%
BANKINDIA 53.64% 81.69% 166.4 19%
BATAINDIA 78.97% 84.17% 587.45 3%
BEL 80.06% 86.15% 180.7 17%
BEML 77.07% 81.10% 1418.2 8%
BHARATFIN 92.18% 84.86% 798.15 -2%
BHARATFORG 63.20% 79.86% 1141.35 10%
BHARTIARTL 67.97% 76.56% 357.45 3%
BHEL 63.91% 73.69% 177.2 7%
BIOCON 66.60% 84.93% 1126.15 -2%
BOSCHLTD 76.97% 77.24% 22595.05 -1%
BPCL 82.67% 74.45% 739.35 15%
BRITANNIA 85.56% 68.86% 3564.5 5%
CADILAHC 71.97% 81.09% 445.95 -1%
CANBK 68.41% 86.13% 327.05 8%
CASTROLIND 91.32% 90.54% 435.75 1%
CEATLTD 72.95% 81.32% 1514.25 15%
CENTURYTEX 88.89% 90.85% 1148.75 9%
CESC 87.33% 86.40% 935.8 11%
CIPLA 72.62% 80.50% 563.65 -6%
COALINDIA 74.41% 67.84% 275.45 -5%
COLPAL 75.91% 77.72% 1041.5 3%
CONCOR 76.42% 78.84% 1219.75 -4%
CUMMINSIND 77.09% 77.91% 1024.6 8%
DABUR 85.98% 86.53% 291.15 6%
DCBBANK 74.94% 77.05% 183.05 8%
DHFL 84.05% 88.56% 426.15 16%
DISHTV 74.80% 83.72% 95.2 -12%
DIVISLAB 74.48% 83.13% 633.1 1%
DLF 79.45% 79.27% 190.75 27%
DRREDDY 73.06% 78.14% 2606.35 -1%
EICHERMOT 75.91% 71.67% 26102.6 1%
ENGINERSIN 75.86% 78.79% 167.8 16%
EXIDEIND 88.06% 89.91% 229 4%
FEDERALBNK 90.03% 83.06% 94.95 4%
GAIL 76.33% 68.33% 419 11%
GLENMARK 70.61% 85.46% 888.8 2%
GMRINFRA 85.91% 86.65% 17.7 7%
GODREJCP 67.75% 64.30% 1753 5%
GODREJIND 73.28% 74.33% 536.9 6%

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Stock Rollover

3 Month Rollover
Scrip Rollover % Closing Price Price Change %
Avg. %
GRASIM 75.54% 70.40% 1160.85 9%
HAVELLS 67.95% 77.28% 479.5 2%
HCLTECH 55.50% 79.60% 807.05 -7%
HDFC 58.90% 66.45% 1574.8 3%
HDFCBANK 72.54% 73.14% 1556.15 7%
HDIL 72.60% 78.74% 92.8 13%
HEROMOTOCO 70.50% 75.07% 3309.6 2%
HEXAWARE 74.82% 81.38% 231.2 5%
HINDALCO 80.54% 81.77% 195.85 2%
HINDPETRO 88.85% 77.88% 544.1 5%
HINDUNILVR 72.45% 79.02% 950.3 3%
HINDZINC 82.91% 76.42% 268.3 -7%
IBREALEST 75.01% 88.13% 157.55 79%
IBULHSGFIN 82.82% 85.09% 1000.4 1%
ICICIBANK 72.58% 70.54% 274.95 -2%
ICIL 89.39% 86.89% 204.3 4%
IDBI 73.96% 82.02% 75.15 0%
IDEA 66.89% 71.61% 85.55 -2%
IDFC 76.68% 88.89% 61.45 12%
IDFCBANK 75.70% 89.77% 65.55 9%
IFCI 83.26% 81.46% 29.4 -3%
IGL 64.19% 78.76% 1057.55 5%
INDIACEM 79.34% 85.36% 213.3 32%
INDUSINDBK 68.06% 69.65% 1476.15 4%
INFRATEL 73.26% 74.51% 368.35 13%
INFY 73.67% 72.89% 928.15 -10%
IOC 72.41% 72.37% 442.4 18%
IRB 93.15% 88.34% 256.65 8%
ITC 61.51% 73.46% 286.9 1%
JETAIRWAYS 80.22% 77.48% 516 -4%
JINDALSTEL 88.89% 84.48% 114.4 -5%
JISLJALEQS 87.87% 86.13% 113.95 22%
JPASSOCIAT 89.43% 88.19% 13.7 -3%
JSWENERGY 89.30% 88.76% 67.5 7%
JSWSTEEL 77.42% 84.89% 199.1 7%
JUBLFOOD 58.41% 69.67% 1026.55 -8%
JUSTDIAL 67.72% 73.88% 504.45 -7%
KOTAKBANK 71.90% 70.53% 918.15 6%
KPIT 78.11% 80.02% 129.45 -1%
KSCL 78.50% 80.73% 570.95 5%
KTKBANK 79.57% 83.26% 155.95 10%
L&TFH 80.25% 79.39% 128.4 3%
LICHSGFIN 82.34% 77.64% 675.2 8%
LT 64.89% 73.18% 1772.5 13%
LUPIN 62.23% 77.76% 1345.55 -7%
M&M 75.73% 70.93% 1342.45 4%
M&MFIN 68.68% 75.50% 333.9 6%
MARICO 85.72% 76.56% 318.75 7%
MARUTI 79.37% 78.29% 6393.85 7%

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Stock Rollover

3 Month Rollover
Scrip Rollover % Closing Price Price Change %
Avg. %
MINDTREE 76.43% 83.40% 492.4 9%
MOTHERSUMI 75.14% 76.49% 389.95 3%
MRF 79.84% 87.61% 68517 14%
NCC 81.06% 82.76% 95.35 17%
NHPC 73.77% 71.32% 31.55 -1%
NIITTECH 61.28% 73.61% 464.65 10%
NMDC 80.27% 79.91% 127 -4%
NTPC 73.90% 74.68% 165.05 1%
OFSS 72.40% 75.81% 3577.75 -1%
OIL 67.86% 74.40% 325 -1%
ONGC 77.60% 75.29% 179.85 -3%
ORIENTBANK 61.48% 83.02% 158.45 14%
PAGEIND 64.04% 76.00% 14329.2 -3%
PCJEWELLER 75.39% 70.43% 426.6 2%
PETRONET 89.36% 81.05% 433.3 8%
PFC 80.40% 73.89% 158.9 11%
PIDILITIND 82.08% 80.93% 727 5%
PNB 56.46% 79.80% 160.65 8%
POWERGRID 67.56% 77.45% 208.7 6%
PTC 80.75% 83.89% 94.35 2%
RCOM 88.19% 84.17% 34.8 -9%
RECLTD 75.13% 74.47% 205.15 14%
RELCAPITAL 86.60% 86.63% 674.55 10%
RELIANCE 70.51% 76.99% 1406 10%
RELINFRA 86.27% 88.43% 586.35 3%
RPOWER 88.12% 89.27% 49.15 2%
SAIL 78.66% 83.81% 60.25 -2%
SBIN 62.12% 75.34% 283.5 -3%
SIEMENS 71.05% 79.24% 1338.15 6%
SINTEX 88.39% 88.88% 113.5 7%
SOUTHBANK 89.74% 89.95% 24.8 22%
SRF 71.44% 77.79% 1807.4 12%
SRTRANSFIN 69.84% 75.81% 1047.9 -1%
STAR 70.05% 77.48% 1082.35 -3%
SUNPHARMA 76.33% 81.45% 639.45 -7%
SUNTV 85.14% 85.05% 930.25 17%
SYNDIBANK 77.20% 76.97% 76.65 8%
TATACHEM 84.67% 83.72% 658.45 10%
TATACOMM 84.37% 88.94% 727.1 1%
TATAELXSI 77.75% 80.75% 1536.4 3%
TATAGLOBAL 91.11% 92.36% 153.05 1%
TATAMOTORS 82.59% 69.87% 458.45 -2%
TATAMTRDVR 81.80% 82.79% 278.3 -2%
TATAPOWER 79.07% 83.82% 84.85 -6%
TATASTEEL 83.07% 80.14% 448.6 -7%
TCS 57.28% 71.41% 2297.7 -6%
TECHM 77.61% 73.86% 427.8 -8%
TITAN 80.98% 71.29% 480.7 5%
TORNTPHARM 61.68% 76.00% 1419.9 -5%
TV18BRDCST 86.68% 91.90% 40.65 -4%
TVSMOTOR 76.24% 77.63% 489.15 13%
UBL 67.35% 74.40% 778.4 -1%
ULTRACEMCO 66.16% 76.78% 4249 6%
UNIONBANK 71.48% 77.21% 159.55 2%
UPL 58.45% 81.78% 821.4 15%

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Stock Rollover

3 Month Rollover
Scrip Rollover % Closing Price Price Change %
Avg. %
VEDL 79.72% 76.75% 235 -7%
VOLTAS 79.16% 75.95% 411.9 -1%
WIPRO 71.56% 75.91% 492.9 -5%
WOCKPHARMA 77.19% 86.88% 719.6 -2%
YESBANK 67.88% 74.63% 1638.8 5%
ZEEL 78.72% 78.45% 533.15 0%

Nifty Put Call Ratio Chart

9400 2.5

9350

9300 2

9250
1.5
9200
Nifty Close
9150
1
PCR
9100

9050 0.5
9000

8950 0

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IPO CORNER Housing and Urban development
corporation (HUDCO) a wholly owned by
government is ready to go with public
issue to divest 10% government stake.
HUDCO is having experience of over 46
years for providing loans to housing and
urban infrastructure projects. Hudcos
IPO of 20.4 crore shares will be available
for subscription from 8th may 2017 till
11thmay 2017.The price band is Rs 56 to
Rs 60 per share. Company has already
reserved shares valued at 23 crores for its
employees.

Urban India is seeing an inflow of

working population. HUDCO serves
services like water supply, sewerage,
HUDCO A Maniratna company
drainage etc and is holding a great
For Offer for sale Offer size(in Rs. Crores) positioned in the sector.
On lower price band 1127.94
On upper price band 1209.56
Offer size (In No. Of share) 20.41
HUDCO is holding a credit rating of AAA
Price band (In Rs.) 56-60 (Highest rating for long term borrowing
Post issue capital(Rs. Crores)
On lower price band 2001.90 with lower costs).In addition;
On upper price band 2001.90 government has allowed the company to
Post-issue promoter share 89.8
holding (%) issue tax free bonds on regular basis.
Issue open date 08/05/2017
Issue close date 11/05/2017
Lending to the private sector didnt
Listing NSE and BSE
played well for the companys growth.
From April 2013, the board decided to
Housing and Urban development adopt a new business model with low risk
corporation (HUDCO) was established in by lending to the state government and
1970 by the government of India. their agencies only.
Company has proved itself to the citizens
by helping in reconstruction at the time of Company is expecting to fall in provisions
crisis like earthquakes, cyclones, flood from FY19 and will be a good year for
etc. earnings.

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Statistics Weakness

Company is having a loan book of Rs. The fiscal responsibility and

36,386 crores. About 90% of loans have budget management act limits the
been allowed to state government. amount states can borrow.

Year 2015-16 2014-15 2013-14 2012-13 2011-12

No. of Projects 202 162 134 140 130

Project Cost 60317 41966 31884 89293 83596

Loan Sanctioned (In Cr) 30774 21096 17491 23974 20511

-Housing 24488 7670 9578 7244 6307

-Urban Infrastructure 35829 13426 7848 16337 14204

Loan Released( In Cr) 8250 8101 7438 6079 6905

-Housing 2833 3149 2544 1279 1916

-Urban Infrastructure 5109 4952 4596 4694 4987

Total Res.Dwell Units 457879 484128 1434102 439286 422524

EWS 254431 347327 1410942 406333 406934

LIG 174511 54254 1020 18962 272

MIG 27592 78446 6086 3295 4324

HIG 1259 3996 15910 5772 10994

HUDCO Niwas 86 105 144 4924 0

Non Residential
952 897 19 266 537
Building
Number of Plots 701 128 243 57247 181853
No. of Urban Inf.
170 121 72 76 61
Projects

Strength

Played a key role in government

schemes to develop infrastructure
sector.
90% of loans are granted to
government and their agencies.

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NIFTY 50 SCOREBOARD

365 30
52 Week 52 Week Face book Stock
Symbol Price* Days % Days % EPS
High Low value value P/E
Change Change
IOC 428.55 450.25 196.28 108.97 12.38 10 183.97 12.32 37.12
HINDALCO 184.55 203.9 83.5 104.04 -6.89 1 171.24 _ 6.29
YESBANK 1,616.25 1,651.90 905.65 77.19 3.11 10 374.55 22.08 72.92
MARUTI 6,626.00 6,730.00 3,790.00 72.69 4.47 5.00 1,136.94 27.39 242.91
ADANIPORTS 341.4 359.25 169.7 72.42 -4.68 2 77.25 19.36 13.72
IBULHSGFIN 1,113.90 1,135.00 616 66.48 12.94 2 314.8 16.5 67.06
SBIN 298.8 304.9 166.4 65.68 0.49 1 224.96 53.6 11.2
BPCL 714.8 753.55 440.58 52.28 12.08 10 230.65 11.98 60.48
POWERGRID 210 213.8 139.5 46.6 7.69 10 92.4 15.18 13.77
GRASIM 1,185.00 1,218.00 781.9 43.98 11.24 2 603.54 17.84 105.25
ULTRACEMCO 4,412.00 4,449.00 3,050.00 41.46 8.1 10.00 851.12 45.07 95.72
ICICIBANK 302.05 308.15 213.2 40.72 6.04 2 166.01 17.75 16.83
INDUSINDBK 1,434.80 1,483.45 1,025.25 38.29 2.42 10.00 337.13 29.37 47.94
EICHERMOT 26,861.00 26,964.90 18,000.00 36.44 4.25 10.00 1,885.82 42.17 573.32
RELIANCE 1,320.10 1,467.75 925.65 35.36 -6.71 10.00 835.33 13.74 84.61
HDFCBANK 1,532.60 1,573.95 1,117.25 35.35 7 2.00 340.08 27.01 56.78
ASIANPAINT 1,171.75 1,227.30 851.1 35.14 8.24 1.00 74.46 55.82 18.38
LT 1,708.00 1,774.00 1,223.30 34.08 0.68 2.00 503.53 31.26 54.94
ONGC 185.85 211.8 133.33 32.43 -0.21 5.00 143.96 13.23 14.15
HDFC 1,529.00 1,591.85 1,135.00 31.51 2.61 2.00 340.08 27.01 46.85
TATASTEEL 431.2 508.75 296.3 29.96 -12.59 10.00 262.33 _ 27.86
ITC 273.3 292.9 204 29.06 -2.03 1.00 33.26 33.97 8.16
KOTAKBANK 910 922 692.5 28.32 2.26 5.00 208.04 44.30 18.53
BANKBARODA 188.75 202.5 128.25 26.93 8.14 2.00 161.89 _ -23.35
ZEEL 502.25 589.9 396.3 25.42 -7.59 1.00 51.24 50.23 7.69
ACC 1,704.45 1,756.70 1,256.55 22.2 15.93 10.00 471.42 47.87 32.69
BOSCHLTD 23,300.00 25,670.85 17,671.60 22.02 1.75 10.00 3,141.95 39.96 586.89
AMBUJACEM 258.6 281.7 191 19.81 8.31 2.00 100.43 35.57 5.53
TATAPOWER 83.2 91.15 67 18.35 -5.67 1.00 58.35 15.66 3.43
HEROMOTOCO 3,405.00 3,740.00 2,820.35 17.67 6.47 2.00 531.01 19.30 174.97
BAJAJ-AUTO 2,853.05 3,120.00 2,364.35 16.29 3.34 10.00 529.34 21.02 137.37
NTPC 161 178.25 133.4 15.25 -3.3 10.00 116.53 13.14 12.16
HCLTECH 842 890.15 706.4 14.89 -1 2.00 234.26 14.66 47.82
GAIL 418.5 433.7 268.32 14.42 9.44 10.00 200.01 17.65 18.12
HINDUNILVR 955.05 960 781.95 12.34 2.11 1.00 32.31 48.97 19.05
AXISBANK 510.5 638.3 424.4 10.73 0.43 2.00 237.20 32.86 15.36
TATAMOTORS 422.6 598.4 376.1 8.04 -10.75 2.00 262.34 17.38 1.76
CIPLA 551 621.25 457.45 1.7 -7.09 2.00 165.05 44.67 17.40
M&M 1,332.25 1,508.95 1,141.40 0.86 3.22 5.00 460.58 25.84 61.75
BHARTIARTL 352.3 401 283.05 -0.59 2.26 5.00 114.38 26.73 20.58
COALINDIA 279.15 349.95 273.1 -0.94 -3.76 10.00 65.16 16.02 25.87
INFRATEL 365 413.7 281.75 -1.11 8.08 10.00 110.83 23.64 68.92

WWW.EQUITYRESEARCHLAB.COM 22
 Last 365 30
52 Week 52 Week Face book Stock
Symbol Traded Days % Days % EPS
High Low value value P/E
Price Change Change
TCS 2,342.00 2,744.80 2,051.90 -5.19 -2.47 1.00 465.47 17.35 120.04
WIPRO 502.5 577.8 408.1 -7.48 -1.6 2.00 218.66 14.29 33.57
TATAMTRDVR 261.15 378.15 257.45 -7.74 -8.42 2.00 _ 19.01 1.76
DRREDDY 2,598.00 3,689.85 2,555.20 -11.32 -5.23 5.00 763.57 40.05 67.72
TECHM 421 564 405.5 -12.17 -5.81 5.00 170.94 12.71 33.15
LUPIN 1,278.65 1,750.00 1,248.15 -20.26 -12.12 2.00 291.42 19.34 77.50
INFY 943.1 1,279.30 901 -20.91 -5.31 5.00 314.24 14.91 120.04
SUNPHARMA 638 854.95 571.9 -21.28 -7.63 1.00 157.82 18.50 -4.17
AUROPHARMA 604.2 895 581.6 -24.94 -10.82 1.00 150.64 14.80 28.32
TCS 2,342.00 2,744.80 2,051.90 -5.19 -2.47 1.00 465.47 17.35 120.04
WIPRO 502.5 577.8 408.1 -7.48 -1.6 2.00 218.66 14.29 33.57
TATAMTRDVR 261.15 378.15 257.45 -7.74 -8.42 2.00 _ 19.01 1.76
DRREDDY 2,598.00 3,689.85 2,555.20 -11.32 -5.23 5.00 763.57 40.05 67.72
TECHM 421 564 405.5 -12.17 -5.81 5.00 170.94 12.71 33.15
LUPIN 1,278.65 1,750.00 1,248.15 -20.26 -12.12 2.00 291.42 19.34 77.50
INFY 943.1 1,279.30 901 -20.91 -5.31 5.00 314.24 14.91 120.04
SUNPHARMA 638 854.95 571.9 -21.28 -7.63 1.00 157.82 18.50 -4.17
AUROPHARMA 604.2 895 581.6 -24.94 -10.82 1.00 150.64 14.80 28.32
th
*as on 8 May 2017

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NIFTY

NIFTY SPOT : R1:9335 R2:9357 R3:9376

PIVOT : 9316 S1:9295 S2:9276 S3:9254

NIFTY DAILY CHART

CHART INTERPRETATION
The Nifty took support near the cluster of support placed around 9060-9070 region as it is the upper band of
bullish gap area formed on March 14, 2017 post state election results (9060) and 80% retracement of the last
rising segment placed around 9070. Going forward, we expect the index to trade with a positive bias and a
decisive close above 9310 will add fuel to the ongoing momentum and open further upsides towards 9450 over
the short term as it is the value of the trend line joining 2016 yearly high and March 2017 peak of 9218. Among
oscillators, the 14 period RSI is exhibiting a negative divergence as it has formed lower high against higher high
on price front. This may keep the index vulnerable to bouts of profit taking at higher levels

INDEX OUTLOOK

Nifty Future: The Nifty is likely to open flat to positive on the back of weak Asian cues. Its important to sustain
above 9260 to move upwards. Buy Nifty near 9270-9290 for targets of 9350, 9400 stop loss: 9250

Nifty Bank Future: The Nifty Bank hit a life-time high on the back of the strong price performance of PSU banks
along with private sector leaders. Addition was seen in 23000 strike Call whereas writing continued in 22500
Put indicating major support. We feel the index is well placed to test 23000 on upsides on the back of
continuous DII buying. Buy Nifty Bank in the range of 22600-22650, targets: 22750-22850, stop loss: 22500

WWW.EQUITYRESEARCHLAB.COM 24
SECTORAL INDICES

Key Indices Levels to watch out for the day

INDEX RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
(Spot)
SENSEX 30300 30125 29926.15 29775 29600
NIFTY 9430 9375 9314.05 9270 9220
NIFTYBANK 23050 22900 22767.35 22600 22440
NIFTYIT 10420 10300 10209.15 10100 9990

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 NIFTY FUTURE

NIFTY DAILY CHART

The Nifty witnessed a round of profit booking and
NIFTY
fell nearlyOUTLOOK
75 points for the day. With all sectors
feeling the heat, the index ended near 9300. Nifty
.futures ended at a premium of 35 points. India VIX
rose 5.8%, ending at 12.0.FIIs sold 364 crore while
DIIs bought 298 crore in the cash segment. FIIs
sold | 1089 crore in index futures and bought 1800
crore in index options. In stock futures, they sold
471 crore
The Nifty opened on flat note tracking muted
global cues as a long awaited US tax cut plan
unveiled by US president on Wednesday failed to
inspire investors. The index traded choppy in a
narrow range of just 45 points thereafter
between 9367 and 9322 for the entire session
before finally settling at 9342. Sectorally, profit
booking in FMCG, pharma and metal space
capped the upside while oil & gas, IT and capital
goods indices posted modest gains

NIFTY FUTURE : R1:9352 R2:9387 R3:9414

PIVOT : 9324.5 S1:9289 S2:9261 S3:9226

WWW.EQUITYRESEARCHLAB.COM 26
 NIFTY BANK FUTURE

NIFTY BANK DAILY CHART

NIFTY BANK OUTLOOK

The indexOUTLOOK
NIFTY witnessed a sharp fall last Friday.
However, the level of 22500 acted as a strong
support for the day. Towards the end, the index
S ended well above 22650 with stock specific
activity in a few heavyweights. We feel the index
has a strong support near 22500. It is advisable
to buy on dips until the index does not end
below these levels
The index ended at all-time high levels very
much near the sizeable Call base of 22000. As the
index continued to trade in a discount for the
third day in a row, we feel spreads are likely to
get narrow. However, the overall support for the
index has shifted towards 21700.

BANK NIFTY FUTURE : R1:22795 R2:22938 R3:23058

PIVOT : 22675 S1:22532 S2:22412 S3:22269

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 USDINR

The Indian rupee rose for a second day against the dollar in-line with other Asian currencies. The Fed
kept interest rates unchanged at its two-day policy meeting on Wednesday and emphasized the
strength of the labour market in its subsequent statement - a sign it was still on track for two more rate
rises this year. USDINR is expected to trade with positive bias in todays session. Resistance is at 64.60
and support is at 64.30 mark.

USDINR : R1:64.50 R2:64.60 R3:64.75

S1:64.30 S2:64.22 S3:64.10

GLOBAL MARKETS

EUROPEAN MARKET
NAME CHANGE % CHANGE
FTSE 100 49.33 0.68
CAC 40 59.98 1.10
DAX 69.11 0.54

European markets finished higher on with shares in France leading the region. The FTSE 100 is up
0.0.68% and France's CAC 40 is up 1.10% while Germany's DAX is up 0.54%.

ASIAN MARKET
NAME CHANGE % CHANGE
NIKKEI 225 450 2.26
STRAITS TIMES 2.77 0.09
HANG SENG 133.12 0.54
TAIWAN WEIGHTED 37.31 0.38

Asian markets traded on a positive note. Chinas Shanghai composite fell 24.79 percent or 0.81 points
to close at 3078.25 and the Hong Kong's Hang Seng was positive by 133.12 points.

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ADVANCES / DECLINES RATIO

ADVANCE DECLINE UNCHANGED TOTALS

406 1274 70 1750

INDIAN MARKETS

INDEX PREVIOUS OPEN HIGH LOW CLOSE GAIN/LOSS

CLOSE
Nifty 50 9359.9 9374.55 9377.1 9272 9285.3 -74.6
Nifty IT 10106.5 10084.5 10101.95 10031.1 10086.3 -20.2
Nifty Bank 22720.1 22844.85 22853.55 22514 22604.95 -115.15
Nifty Pharma 9979 9969.85 10048.8 9908.7 9935.15 -43.85
India VIX 11.3325 11.3325 12.16 10.4525 11.9875 0.655

FII/DII ACTIVITY

BUY SELL OPEN INTEREST AT THE

END OF THE DAY
No. Of Amt. No. Of Amt. No. Of Amt.
Contracts (In. Crores) Contracts (In. Crores) Contracts (In. Crores)
INDEX 18715 1435.72 33310 2524.19 209786 15236.13
FUTURES
INDEX 502369 39387.55 477861 37587.29 810102 57506.74
OPTIONS
STOCK 122946 9104.78 129948 9575.21 1048480 69189.90
FUTURES
STOCK 105286 7953.64 107101 8058.83 56643 4016.69
OPTIONS

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TOP GAINERS VS. TOP LOSERS

TOP GAINERS

Company LTP(Rs.) % Change

IBULHSGFIN 1107 +2.80
ACC 1659 +2.15
ADANIPORTS 344 +1.40
HCLTECH 828 +1.22
ASAINPAINT 1146 +1.18

TOP LOSERS

Company LTP(Rs.) % Change

BANKBARODA 187.50 -4.21
TATAMOTORS 419.90 -3.80
HINDALCO 185.60 -3.56
ZEEL 505 -3.02
TATAMTRDVR 259 -2.98

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WWW.EQUITYRESEARCHLAB.COM 31
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