MARKET Diary

11-May-17

Nifty Intraday Chart Market

Market Value % Change
KEY LEVELS
Morning Traded Market
Support 1 : 9253
SGX NIFTY 9,446.00 0.30%
Resistance 1: 9460 NIKKIE 19927.42 0.14%
HANG SENG 25,101.53 0.34%
Yesterday Closing Market
Sensex 30,248.17 1.05%
Nifty 9,407.30 0.97%
Market Outlook DOW 20,943.11 -0.16%
Event Today Indian equities gave sharp up move yesterday and NASDAQ 6,129.14 0.14%
after opening on a positive note, nifty continuously
Result rose to make an intraday high of 9414.40. At the end CAC 5,400.46 0.05%
ARVIND , ASIANPAINT of the day the index closed near at 9407.30. It had a DAX 12,757.46 0.07%
net gain of 0.97% over the previous days close. The
FORCEMOT , GLENMARK FTSE 7,385.24 0.58%
midcap and small cap indices under-performed the
GPPL , GRANULES benchmark index and closed the day after gaining EW ALL SHARE 17,417.37 0.88%
around 0.5% each.
GSKCONS , HCLTECH % Change in 1 day
On the sectoral front, some buying interest was
ICRA , ITDCEM, MAGMA witnessed in FMCG, Auto and Pharmaceuticals stocks Commodity Price ( Yesterday Closing )
KIRLOSIND , NILKAMAL while PSU banking and Information Technology stocks Commodity/Currencies Value % Change
have shown some weakness. The breadth of the
VESUVIUS, WESTLIFE market was positive and about two shares advanced GOLD 27996.00 0.09%
Concall for every share declined at NSE. SILVER 37952.00 0.43%
Endurance Technologies : 9:30 amIndias tea production fell by 21% at 56.08 million kg in CRUDEOIL 50.34 0.26%
March as against a year ago period. The dry weather
Sheela Foam : 10:00 AM NATURALGAS 213.40 1.76%
hurt production in countrys biggest producing north
Dalmia Bhar : 10:00 AM eastern Assam state. DOLLAR/RS. 64.62 0.50%
Trident Ltd : 11:30 AM High concentration of open interest at 9300 puts finally EURO/RS. 70.43 0.05%
showed its power yesterday propelling Nifty to close
Hero Motors : 11:30 AM POUND/RS. 83.67 0.20%
above 9400. And this was more so important as other
Phoenix Mills : 12:00 PM global markets continued to trade sideways. Yesterday
% Change in 1 day
Deepak Nitrite: 12:00 PM also saw further addition of 16 lakh contracts (net Institutional Turnover
Blue Star , Havell : 4:00 PM outstanding now of 77 lakh contracts) to 9300 Put. At FII
HCL Tech , MPS : 4:30 PM the same time 9400 Call saw unwinding of 11.5 lakh Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
contracts signalling, 9300-9500 is now the solid range
Granules India : 5:00 PM for remaining trading days in May series. And 200 10-May-17 4956 4623 333
Asian Paints : 5:30 PM points Nifty range for 11 remaining days is not at all May-17 76435 77484 (1049)
counter intuitive. 9500 Call has outstanding of 65 lakh
IPO contracts. 2017 76435 77484 (1049)
HUDCO
Yesterday rally has also bought Nifty back to its upper
Price band: 56-60 DII
resistance line of 'flag pattern' working since 17th
Opens: 8th May 2017 March. Presently resistance from this pattern is at Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
Closes: 11th May 2017 9440 and is rising. Only two consecutive close above 10-May-17 2368 2351 17
this resistance can negate this 'flag pattern'.
Buy Back of Shares May-17 49775 45264 4511
MARATHON 2017 49775 45264 4511
Final Dividend
JMFINANCIL : Rs 0.85/-
Reduction of Capital Quote of the Day : "The line separating investment and speculation, which is never bright and clear,
BJDUP becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates
( Exdate : 11.5.2017 ) rationality like large doses of effortless money." Warren Buffett

Narnolia Securities Ltd

IEA Snapshot

VIJAYABANK "HOLD" 11th May 2017

We expect NIM to improve further in FY18 to 2.75%. Focus of management is growing retail book going forward hence we expect 8 to 10
percent credit growth in FY18. Assets quality is likely to continue to improve going forward but we are cautious for the whole scenario of
assets quality in PSU banking. With the Tier 1 ratio at 9.96% and CRAR at 12.73% management plans to Raise Rs 1000 Cr core capital in
FY18. With this we expect RoE and RoA of 11.7% and 0.6% respectively in FY18.
We initiated this stock at the price of Rs 48 which has almost doubled till now. The stock is currently trading at (1.3x/1.2x PV FY17/FY18E)
and valuation has got stretched which leaves us with little upside, hence we recommend to partly book profit on this stock and hold for the
rest with the target price of Rs 98.

GODREJCP "HOLD" 10th May 2017

The company has reported better numbers for Q4FY17. Domestic volume grew handsomely by 5% YoY. EBITDA margin improved by 147
bps YoY in an inflationary environment. International business EBITDA margin also improved by 150 bps YoY to 19.6%. Going forward
management indicated that they will maintain margin and also try to improve it. GODREJCP is present in less penetrated segment as
compared to other FMCG players such as Hair color and Home Insecticide. It gives GODREJCP enough room to grow further. As far as
international business in concern, we expect better revenue growth from Indonesian market going forward as company is expanding its
distribution reach and launching new products and for African business we expect 15% CAGR for next two year led by strong growth in
Strength of Nature(SON). Considering all this we still hold positive view on GODREJCP but stock has run up sharply after result so we
presently recommend `HOLD rating on it
*For details, refer to our daily report- India Equity Analytics

Top News
Petronet LNG concall:
Kochi volume started picking up. Management expects 10%
capacity utilization from existing 5% utilization in FY18.
Gorgoan volume in 4QFY17 is 3 cargoes, and expects further
improve in volume in FY18.
1 more storage terminal at Dahej terminal is required which
will be build at the capex of ~Rs.600 Cr.(USD 100 mn) by this
year.
Company is receiving tax benefit on expanding Dahej facility
and this benefit will be available for next 2 years. Tax
guidance for FY18 is 28-29%.
Expecting dahej capacity expansion to 17.5 MT by 2019.
Natco will market generic pomalidomide capsules under its brand
name POMALID in India. Natco priced its generic medicine of POMALID 1
mg, 2 mg, and 4 mg capsules at an Rs.5000, Rs.10,000, and Rs.20,000
respectively for a monthly pack of 21 capsules.
Dish TV gets CCI nod for merger with Videocon d2h . The CCI has
intimated the company that it in its meeting held on May 4, 2017,
considered the proposed combination and has accorded its approval to
the said combination
TCS carried out a digital transformation project for South African
lender Mercantile Bank. TCS Bancs Digital platform for the project and
Mercantile Bank can now deliver channel-agnostic business banking
across multiple devices

GE T&D India said GE Energy Europe B V is no longer its
promoter as the latter has sold it entire stake to GE Grid
Alliance B V.
Vijaya Bank Mgt Guideline : Bank will review the interest
scenario position and bank will take appropriate cost but
endeavour would be to retain this kind of margin to the
extent possible for FY18.
Looking into the recent resolution mechanism announced by
the government of India and efforts being initiated by the
Reserve Bank of India (RBI), Bank is confident to see some
accounts turning around during this financial year
Tata Sponge Mgt Guideline : Company is in focus as the
company gets environment clearance to increase capacity.
The company received environment nod to raise capacity to
425,000 tonne per annum from 390,000 tonne per annum.
The capacity will be increased via operational improvements.
Competition Commission of India had imposed on the EXCELCROP a
penalty of `63.90 crores alleging violation by the Company of Section 3 of
the Competition Act, 2002, in relation to supply of a product to one buyer.
Thomas Cook India intends to leverage growth potential of Kerala
market Increases consumer access with a new branch at Thrissur
Tata Chemicals announced it will acquire a facility of Gujarat-based
Unnati Inorganics for Rs 34.20 crore on a slump sale basis. The acquisition
is a part of the Rs 295 crore investment approved by the Tata Chemicals'
Board earlier in February 2017,
DLF has sold properties worth Rs 200 crore in its luxury housing project
at Gurugram despite slowdown in the residential segment. The company
is developing about 750 apartments in nearly 9 acre luxury housing
project 'The Crest', launched in 2013 and expected to be completed this
year.

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

The stock has made positive divergence

both in RSI & Stochastic in daily chart. Some
TNPL Buy 296.45 304 320 286
fresh buying is likely to emerge in the stock
at the current level.

Short The stock has found a strong support at

Reliance May (1 Lot 1310 and thereafter gave a good pullback
5.7 0.5 8
1300 PE =500) yesterday. In the short term it is very
unlikely to breach that level.

Narnolia Securities Ltd

 Result Calendar Q4FY17
BSE Code Company Name Date BSE Code Company Name Date
500101 ARVIND 11-May-17 535755 ABFRL 12-May-17
539017 ASHFL 11-May-17 519183 ADFFOODS 12-May-17
500820 ASIANPAINT 11-May-17 523537 APMIN 12-May-17
539122 BODHTREE 11-May-17 524640 ARCHITORG 12-May-17
539131 CLLIMITED 11-May-17 539301 ARVSMART 12-May-17
532365 DSSL 11-May-17 532230 BENGALT 12-May-17
530117 FAIRCHEM 11-May-17 532330 BIOPAC 12-May-17
500033 FORCEMOT 11-May-17 532485 BLIL 12-May-17
509563 GARWAMAR 11-May-17 514045 BSL 12-May-17
538319 GCMCAPI 11-May-17 500040 CENTURYTEX 12-May-17
532296 GLENMARK 11-May-17 501833 CHOWGULSTM 12-May-17
533248 GPPL 11-May-17 538715 DHABRIYA 12-May-17
532482 GRANULES 11-May-17 533146 DLINKINDIA 12-May-17
500676 GSKCONS 11-May-17 500124 DRREDDY 12-May-17
532281 HCLTECH 11-May-17 517477 ELNET 12-May-17
504731 IBRIGST 11-May-17 517300 GIPCL 12-May-17
532835 ICRA 11-May-17 505255 GMM 12-May-17
517380 IGARASHI 11-May-17 517354 HAVELLS 12-May-17
517077 INDAGIV 11-May-17 500189 HINDUJAVEN 12-May-17
526887 INDOCRED 11-May-17 538838 ICL 12-May-17
505358 INTEGRAEN 11-May-17 539083 INOXWIND 12-May-17
509496 ITDCEM 11-May-17 505737 INTLCOMBQ 12-May-17
538794 JETINFRA 11-May-17 522245 IYKOTHITE 12-May-17
538092 JOONKTOLL 11-May-17 532508 JSL 12-May-17
500243 KIRLOSIND 11-May-17 531602 KOFFBREAK 12-May-17
526423 KRITIIND 11-May-17 539524 LALPATHLAB 12-May-17
533210 KRITINUT 11-May-17 523457 LINDEINDIA 12-May-17
524000 MAGMA 11-May-17 505850 MANCREDIT 12-May-17
506919 MAKERSL 11-May-17 522235 MINALIND 12-May-17
500206 MARGOFIN 11-May-17 503776 MODIPON 12-May-17
534312 MTEDUCARE 11-May-17 503772 MODWOOL 12-May-17
530557 NCLRESE 11-May-17 532140 MOHITE 12-May-17
523385 NILKAMAL 11-May-17 531457 NARSM 12-May-17
539333 PENPEBS 11-May-17 532529 NDTV 12-May-17
523648 PLASTIBLEN 11-May-17 500790 NESTLEIND 12-May-17
531172 PRANAVSP 11-May-17 524558 NEULANDLAB 12-May-17
526477 SAENTER 11-May-17 500315 ORIENTBANK 12-May-17
531307 SRK 11-May-17 500314 ORIENTHOT 12-May-17
504959 STOVACQ 11-May-17 509820 PAPERPROD 12-May-17
530445 SUMERUIND 11-May-17 521080 PASARI 12-May-17
532262 TCIIND 11-May-17 500302 PEL 12-May-17
532026 THEWEST 11-May-17 532366 PNBGILTS 12-May-17
520113 VESUVIUS 11-May-17 540173 PNBHOUSING 12-May-17
532613 VIPCLOTHNG 11-May-17 523315 PURITY 12-May-17
509038 VOLLF 11-May-17 539678 QUICKHEAL 12-May-17
505533 WESTLIFE 11-May-17 530517 RELAXO 12-May-17
524208 AARTIIND 12-May-17 505807 ROLCOEN 12-May-17
 517500 ROTO 12-May-17 532822 IDEA 13-May-17
500350 RSWM 12-May-17 521005 INDOVATION 13-May-17
539450 SHK 12-May-17 532209 J&KBANK 13-May-17
513498 SOUTHMG 12-May-17 532644 JKCEMENT 13-May-17
517214 SPICEMOBI 12-May-17 519191 JOLYMER 13-May-17
513605 SRIPIPES 12-May-17 504076 JYOTI 13-May-17
539353 SWARAJAUTO 12-May-17 535136 KFL 13-May-17
500114 TITAN 12-May-17 504392 KRISHNA 13-May-17
532371 TTML 12-May-17 532652 KTKBANK 13-May-17
532513 TVSELECT 12-May-17 517206 LUMAXIND 13-May-17
532505 UCOBANK 12-May-17 502157 MANGLMCEM 13-May-17
526941 VAICC 12-May-17 540401 MAXIMUS 13-May-17
540180 VBL 12-May-17 526301 MEDINOV 13-May-17
523261 VENKYS 12-May-17 526616 NATPLAS 13-May-17
511463 ALEXANDER 13-May-17 523558 NETWORK 13-May-17
509367 APTANN 13-May-17 514114 OASISTEX 13-May-17
531795 ATULAUTO 13-May-17 531254 OPTIFIN 13-May-17
512573 AVANTI 13-May-17 500333 PIXTRANS 13-May-17
512109 AVIVA 13-May-17 513532 PRADPME 13-May-17
502219 BOROSIL 13-May-17 536659 PVVINFRA 13-May-17
500074 BPL 13-May-17 540108 RCSL 13-May-17
531595 CGCL 13-May-17 522152 SOLIMAC 13-May-17
532656 FACORALL 13-May-17 521200 SURYALAXMI 13-May-17
500141 FERROALL 13-May-17 505196 TIL 13-May-17
524226 GAEL 13-May-17 505285 TULIVE 13-May-17
521176 GANGOTRI 13-May-17 531126 VIRTUALS 13-May-17
539337 HKT 13-May-17 538567 GULFOILLUB 14-May-17

Earning Estimate Q4FY17

Date NSE CODE SALES SALES YoY PAT PAT YoY
11-May-17 ASIANPAINT 3818 4.00 489 17.20
11-May-17 GSKCONS 1128 -1.30 167 -1.80
11-May-17 GLENMARK 3001 38.00 615 313.70
11-May-17 GRANULES 347 -6.90 36 9.60
11-May-17 HCLTECH 12052 12.70 1971 2.40
11-May-17 ARVIND 2489 7.30 129 16.60
12-May-17 HAVELLS 1590 7.70 126 -23.40
12-May-17 NESTLEIND 2755 20.00 412 35.00
12-May-17 DRREDDY 3757 0.00 465 23.60
12-May-17 TITAN 3004 23.30 172 -9.40
12-May-17 SHK 284 7.00 30 16.60

Narnolia Securities Ltd

 Result Q4FY17
BSE Code NSE CODE SALES SALES YoY PAT PAT YoY
504112 NELCO 38.70 8.92 0.97 -48.13
506532 KERALACHEM 77.52 -14.31 1.48 -62.72
526227 FILATEX 448.70 28.73 13.10 -3.32
532181 GMDCLTD 543.90 54.05 90.00 74.01
531879 PIONDIST 34.66 -29.35 -11.32 -199.30
532133 IFGLREFRAC 208.39 18.07 13.68 28.93
502165 OCL 1010.00 23.09 112.90 -15.45
512161 8KMILES 166.64 93.25 34.34 178.06
532938 CAPF 751.59 34.65 70.33 48.06
524742 CAPLIPOINT 96.24 17.49 21.89 38.81
533309 DALMIABHA 2504.00 33.16 208.00 81.09
500123 DRBECK 98.97 9.00 14.96 10.90
500182 HEROMOTOCO 7606.00 3.09 717.95 -13.98
524735 HIKAL 309.00 6.63 27.43 23.34
536493 JK AGRI 47.72 48.01 3.83 907.89
517569 KEI 795.00 25.55 31.60 55.82
533293 KIRLOSENG 775.00 18.10 44.22 -17.52
532440 MPSLTD 76.67 17.68 15.87 -28.87
500550 SIEMENS 3051.20 11.95 186.20 4.95

Economic Calendar
Monday Tuesday Wednesday Thursday Friday
Country
8th May 17 9th May 17 10th May 17 11th May 17 12th May 17

CPI m/m , Core CPI m/m ,

NFIB Small Business Index Core Retail Sales m/m ,
PPI m/m , Unemployment
, Final Wholesale Crude Oil Inventories , 10-y Retail Sales m/m, Prelim
Labor Market Claims , Core PPI m/m, Natural
US Conditions Index m/m.
Inventories m/m , Bond Auction, Federal Budget
Gas Storage , 30-y Bond
UoM Consumer Sentiment,
IBD/TIPP Economic Balance. Business Inventories m/m ,
Auction.
Optimism. Prelim UoM Inflation
Expectations.

ECB Economic Bulletin ,

German Industrial Manufacturing Production
German Prelim GDP q/q ,
Production m/m , German m/m, Goods Trade Balance ,
German Factory Orders German Final CPI m/m ,
Trade Balance, French German 10-y Bond Auction, BOE Inflation Report , MPC
m/m , BRC Retail Sales French Prelim Non-Farm
UK/EURO ZONE Monitor y/y , Sentix
Final CPI m/m , French RICS House Price Balance , Official Bank Rate Votes ,
Payrolls q/q , Italian Prelim
Gov Budget Balance , NIESR GDP Estimate. Monetary Policy Summary ,
Investor Confidence. GDP q/q , Industrial
French Industrial Official Bank Rate , Asset
Production m/m.
Production m/m. Purchase Facility , MPC Asset
Purchase Facility Votes.

INDIA IIP Data

 N arnolia Securities Ltd
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Road | Kolkata-700 020 , Ph : 033-40501500
em ail: narnolia@narnolia.com ,
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