MARKET Diary

17-May-17

Nifty Intraday Chart Market

KEY LEVELS Market Value % Change
Morning Traded Market
Support 1 : 9428
Support 2 : 9373 SGX NIFTY 9,539.50 0.24%

Resistance 1: 9538
NIKKIE 19791.62 -0.65%
HANG SENG 25,327.01 -0.04%
Yesterday Closing Market
Sensex 30,582.60 0.86%
Nifty 9,512.00 0.71%
Market Outlook DOW 20,979.45 -0.01%
Event Today After opening on a positive note, Nifty continuously NASDAQ 6,169.21 0.33%
rose to make an intraday high of 9517.10
Result CAC 5,406.10 -0.21%
yesterday. At the end of the day the index closed at
ALBK , BAJAJFINSV 9512.25. It had a net gain of 0.68 percent over the DAX 12,804.53 -0.02%
BAJFINANCE , COSMOFILMS previous trading days close. The midcap and small FTSE 7,114.55 -0.06%
cap indices also moved in line with the benchmark
EDELWEISS , HINDUNILVR index and closed the day after gaining 0.5%-0.7%. EW ALL SHARE 17,579.62 0.56%
IFBAGRO , JKLAKSHMI On the sectoral front, PSU Banking, Auto, FMCG % Change in 1 day
JSWSTEEL , MRPL , NIITLTD and Information Technology stocks were on the Commodity Price ( Yesterday Closing )
buyers radar. Metal, Media and Pharmaceuticals
RATNAMANI , RUBYMILLS Commodity/Currencies Value % Change
indices have shown some weakness. The breadth of
SNOWMAN , TAJGVK the market was slightly positive with more GOLD 28094.00 0.36%
UBL , UFO , VINYLINDIA advances than declines. SILVER 38744.00 0.63%
Running on rising volume since day before, Nifty
Concall CRUDEOIL 51.19 -0.23%
broke past its flag pattern (that pattern is now
Tube Inv : 11:00 AM NATURALGAS 206.30 -4.05%
invalid) resistance line. Momentum took it even to
Care Rating : 11:30 AM derivative resistance point of 9500. If Nifty remains DOLLAR/RS. 64.07 0.02%
Quess Corp Limite : 3:00 PM above 9500 and 9500 CE sees sharp unwinding i.e EURO/RS. 70.87 0.84%
PI Inds : 3:00 PM current outstanding open interest of 57.4 lakhs at -0.32%
POUND/RS. 82.57
9500 CE falls below 30.0 lakhs, than the range for
NIIT : 3:30 PM % Change in 1 day
Nifty will see upward revision. If this does not
Dishman : 4:00 PM Institutional Turnover
happen then profit booking could be expected from
Bajaj Fin : 4:00 PM current levels. Current leg of the rally could be FII
AYM Syntex: 4:30 PM attributed to the fact that trading sentiment remain Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
Andhra Bk: 4:30 PM highly negative (Bearish sentiment reading of 81 at 16-May-17 5578 4720 858
investing.com). High straddle combined open
Dilip Buildcon : 5:00 PM interest at 9400 couple of days back gives target May-17 76435 77484 (1049)
JSW Steel : 5:30 PM resistance to Nifty at 9538. Equity investment by 2017 76435 77484 (1049)
Indian household continue to grow. AUM of equity
HUL : 6:00 PM MF has risen for the fifth straight month to touch a
Interim Dividend new high of INR5 trillion. Best part of the current DII
GILLETTE : Rs 154/- inflow to mutual funds is that inflow increases Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
( Exdate : 17.5.2017) when market declines. 16-May-17 2645 3047 (402)
Special Dividend May-17 49775 45264 4511
PGHH : Rs 362/- 2017 49775 45264 4511
( Exdate : 17.5.2017)
Stock Split
MANCREDIT ( From Rs.10/- Quote of the Day : "As investors, we are only the limited product of our own experiences and therefore
to Rs.1/-) vulnerable unless we read and assimilate the accumulated wisdom of the great ones. And Financial history
( Exdate : 17.5.2017) definitely tends to repeat itself. " Barton Biggs
Narnolia Securities Ltd
IEA Snapshot

HCLTECH "BUY" 17th May 2017

After studying Wipro's (Direct Industry Peer) Buy-back Tendering pattern of last years, and on the basis of our analysis of various other buy
backs done in past, We have a positive view on this particular Buy-back.. We recommend retail shareholders "BUY" the stock around in the
range of 840-850/- for tendering in Buy-Back. As per our fundamental analysis, near term downside risk is capped at 5-6% from current
market price..Our analysis suggest potential return of upto 5.5% safer arbitrage return (after adjusting 30% tax on offline transfer of shares)
in this Buy-back.. The holding period would be approx 40-45 days from now

BANKS 17th May 2017

We maintain our positive stance on private banks as they will continue to acquire market share from public banks thus loan growth will
remain healthy going forward. Private Banks have comparatively much less stress assets against public banks. Healthy capitalization ratio
also helps to increase the business going forward. However for many banks valuation has run ahead of their fundamentals. But decline in
prices will give an opportunity. Our top picks are HDFC Bank, Federal Bank, Yes Bank and Axis Bank. Apart from this under public sector
banks Indian bank and Vijaya bank were our top picks based on retail business focus, adequate capital, relatively low stress assets and
higher recovery than slippages. First we recommended Indian Bank at Rs 100 and got neutral near Rs 330 and recommended Vijaya Bank
at Rs 48 and now we have changed our rating to neutral for Vijaya Bank at Rs 98. Both Indian Bank and Vijaya Bank are trading at P/B of 1.0
and do not leave much on table in context of current fundamental. At this point, we recommend Buy only on SBI among PSU Banks as it has
relatively better quality of book and capital ratio than its peers. Merger will be key monitorable for the bank
*For details, refer to our daily report- India Equity Analytics

Top News
Federal Bank Mgt Guideline : Bank said that inflation
number ticking below 3 percent brought about a rally in bond
markets and now people are expecting the Reserve Bank of
India (RBI) to change their stance a bit as well. The trade
account deficit number was a bit alarming at USD 13 billion
and now with new segments like electronic goods, which is
the thirds largest group after oil and precious metals is a
cause of concern. So, it is likely that rupee may peak off at
64/USD levels.
City Union Bank Mgt Guideline : Bank expects loan growth
of 15-18 percent in FY18. The slippage ratio should be coming
down gradually and getting towards long-term average . The
slippage rate has been at 2 percent in the recent times. Bank
said no inorganic opportunity seen at present . Bank doesn't
foresee major effect from Tamil Nadu drought situation on
the asset quality. Majority of the bank's business comes from
the state.
JKCEMENT CONCALL 4QFY17
>>Vol growth during the quarter :
Grey cement : up by 12% (4QFY17 : 1.85 4QFY16 : 1.65)
White Cement : down 2% (4QFY17 1.36 4QFY16 : 1.39)
Wall Putty : up by 15% (4QFY17 : 1.47 4QFY16 : 1.28)
>>Expanding its wall putty production capacity from existing 2 lakh MT per
annum to 4 lakh MT per annum at J.K.White, Katni.
>>Also took note to increase its clinker production capacity by 3.30 lakh
MT per annum in Rajasthan grey cements plant. Total cost approx Rs 50Cr.
>>Overall Grey cement clinker capacity of Rajasthan increases to 54.45 MT
per annum.
>>Capex for FY17 was 250Cr and for FY18 also is 250Cr
>>140 Cr Debt reduction during the quarter.
>>Expect Grey Cement vol growh to be in between 12-15%.
>>Capacity expansion to be completed by June 18.
>>Expect volume growth from FY18.
>>Current Utilization in North is 65% and in South is 60%

Chennai Petroleum Corporation (CPCL ) Mgt Guideline :
The margins in Q4FY17 were hit due to higher employee
expenses and impairment of its non-current assets. CPCL is a
group company of IOC. Gross refining margins (GRMs) for the
full years FY17 is improved . The GRMs came stood at USD
6.05 per barrel as compared to USD 5.27 in FY16 . The
throughput increased 6.34 percent to 10.256 million tonnes
for FY17 compared to 9.644 million tonnes in FY16. Company
plan to operate the refinery at 100 percent capacity utilisation
and so volumes could improve.
Vaibhav Global Mgt Guideline : Company Expect double-
digit volume growth; aim to sustain margins .
Narnolia Securities Ltd
IRB has successfully completed concession period of Thane Bhiwandi
Bypass Project on 13th May 2017. Thane Bhiwandi Bypass Project
involved Improvement and Maintenance of Thane Bhiwandi Bypass
including widening of existing 2 Lane Road to 4 Lane Road and
Construction of New 2 Lane Bridge on Kasheli Creek [From Km () 0/115
to 23/509 Under BOT Scheme with Toll Rights] ('the Project') The
Concession Agreement for the Project was signed on 21st September
1998. The Concession Period of the Project was 18 years and 6 months.
Maruti Suzuki India (MSI) launched an all new version of its compact
sedan Dzire, priced between Rs 5.45 lakh and Rs 9.41 lakh
 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 found a strong support near at
370 and thereafter gave a smart pullback
CANBK Buy 373.1 384 397 369 rally yesterday. The stochastic and RSI are in
oversold zone, suggesting some pullback
rally from the current level.

The stock has made a hammer pattern on

daily candlestick chart. Some fresh buying is
IDFC Buy 64.25 66 68 62.5
likely to emerge in the stock at the current
level.

Narnolia Securities Ltd

 Result Calendar Q4FY17
BSE Code Company Name Date BSE Code Company Name Date
532404 7TEC 17-May-17 532478 UBL 17-May-17
526711 ADARSHPL 17-May-17 539141 UFO 17-May-17
532480 ALBK 17-May-17 524129 VINYLINDIA 17-May-17
532978 BAJAJFINSV 17-May-17 526921 21STCENMGM 18-May-17
500034 BAJFINANCE 17-May-17 524348 AARTIDRUGS 18-May-17
540061 BIGBLOC 17-May-17 500303 ABIRLANUVO 18-May-17
509470 BOMOXY-B1 17-May-17 539661 ACEMEN 18-May-17
508814 COSMOFILMS 17-May-17 500710 AKZOINDIA 18-May-17
540047 DBL 17-May-17 531581 ALKADIA 18-May-17
504286 DELTAMAGNT 17-May-17 506767 ALKYLAMINE 18-May-17
530959 DIANATEA 17-May-17 513117 AMFORG 18-May-17
522261 DOLPHINOFF 17-May-17 506074 ARSHIYA 18-May-17
504908 DUNCANENG 17-May-17 524594 ASHOKALC 18-May-17
532922 EDELWEISS 17-May-17 505010 AUTOAXLES 18-May-17
530023 FORTUNEF 17-May-17 532977 BAJAJ-AUTO 18-May-17
511128 GALAXCP 17-May-17 500490 BAJAJHLDNG 18-May-17
500174 GLFL 17-May-17 532134 BANKBARODA 18-May-17
533263 GREENPOWER 17-May-17 509449 BHAGWOX 18-May-17
524238 GUJINJEC 17-May-17 512296 BHAGYNAGAR 18-May-17
500696 HINDUNILVR 17-May-17 500069 BNKCAP 18-May-17
530055 HRMNYCP 17-May-17 538546 BRPL 18-May-17
507438 IFBAGRO 17-May-17 500084 CESC 18-May-17
532717 INDOTECH 17-May-17 505230 CIMMCO 18-May-17
500380 JKLAKSHMI 17-May-17 512018 CNIRESLTD 18-May-17
500228 JSWSTEEL 17-May-17 513353 COCHINM 18-May-17
500241 KIRLOSBROS 17-May-17 539436 COFFEEDAY 18-May-17
515093 MADHAV 17-May-17 500480 CUMMINSIND 18-May-17
506261 MODISNME 17-May-17 523736 DPL 18-May-17
500109 MRPL 17-May-17 532610 DWARKESH 18-May-17
501477 MULLER 17-May-17 500125 EIDPARRY 18-May-17
500304 NIITLTD 17-May-17 523708 EIMCOELECO 18-May-17
521105 OLYMPTX 17-May-17 524564 GAYATRIBI 18-May-17
513511 PANCHMAHQ 17-May-17 532622 GDL 18-May-17
517119 PCS 17-May-17 532764 GEECEE 18-May-17
509077 PRESSMN 17-May-17 532744 GTNTEX 18-May-17
520111 RATNAMANI 17-May-17 590043 HARITASEAT 18-May-17
503169 RUBYMILLS 17-May-17 533525 HEALTHTECH 18-May-17
530267 SABOOBR 17-May-17 533217 HMVL 18-May-17
539334 SHREEPUSHK 17-May-17 500187 HSIL 18-May-17
533014 SICAGEN 17-May-17 533047 IMFA 18-May-17
532419 SMARTLINK 17-May-17 504741 INDIANHUME 18-May-17
538635 SNOWMAN 17-May-17 532240 INDNIPPON 18-May-17
536799 SRSFIN 17-May-17 500207 INDORAMA 18-May-17
532390 TAJGVK 17-May-17 500306 JAYKAY 18-May-17
511730 TRCFIN 17-May-17 507987 JPTRLES 18-May-17
506808 TUTIALKA 17-May-17 532926 JYOTHYLAB 18-May-17
512307 TYPHOON 17-May-17 506528 KELENRG 18-May-17
540222 LAURUSLABS 18-May-17 512195 BENTCOM 19-May-17
500262 MAFATLAFIN 18-May-17 533108 BTTL 19-May-17
530011 MANGCHEFER 18-May-17 532834 CAMLINFIN 19-May-17
538942 MERCANTILE 18-May-17 509486 CAPRIHANS 19-May-17
539045 MNKALCOLTD 18-May-17 531621 CENTERAC 19-May-17
533398 MUTHOOTFIN 18-May-17 533288 CLARIS 19-May-17
523630 NFL 18-May-17 531472 CYBELEIND 19-May-17
509782 OSEASPR 18-May-17 502137 DECCANCE 19-May-17
514326 PATSPINLTD 18-May-17 507717 DHANUKA 19-May-17
513228 PENIND 18-May-17 505700 ELECON 19-May-17
500331 PIDILITIND 18-May-17 500128 ELECTCAST 19-May-17
513519 PITTILAM 18-May-17 505744 FMGOETZE 19-May-17
530695 PRIMEPRO 18-May-17 500660 GLAXO 19-May-17
524037 RAMAPHO 18-May-17 532630 GOKEX 19-May-17
523289 RAMAVISION 18-May-17 500300 GRASIM 19-May-17
532690 RAMSARUP 18-May-17 526899 HIMIN 19-May-17
539346 SADBHIN 18-May-17 505893 HINDHARD 19-May-17
532310 SHREERAMA 18-May-17 532662 HTMEDIA 19-May-17
505729 SINGER 18-May-17 500106 IFCI 19-May-17
512589 SITAENT 18-May-17 535648 JUSTDIAL 19-May-17
532531 STAR 18-May-17 522287 KALPATPOWR 19-May-17
537253 SUNLOC 18-May-17 532714 KEC 19-May-17
533298 SURANASOL 18-May-17 507180 KESARENT 19-May-17
517530 SURANAT&P 18-May-17 524699 KILBURNC 19-May-17
532782 SUTLEJTEX 18-May-17 532932 MANAKSIA 19-May-17
532890 TAKE 18-May-17 539044 MANAKSTELTD 19-May-17
533170 TAMBOLI 18-May-17 538964 MERCURYLAB 19-May-17
522229 TANAA 18-May-17 533088 MHRIL 19-May-17
532790 TANLA 18-May-17 522241 MMFL 19-May-17
532301 TATACOFFEE 18-May-17 503015 MODERN 19-May-17
533553 TDPOWERSYS 18-May-17 517334 MOTHERSUMI 19-May-17
539658 TEAMLEASE 18-May-17 520043 MUNJALSHOW 19-May-17
509917 TECHCON 18-May-17 539843 NINSYS 19-May-17
539428 TEJNAKSH 18-May-17 516082 NRAGRINDQ 19-May-17
533158 THANGAMAYL 18-May-17 539015 ORTEL 19-May-17
506680 TRELCHE-B 18-May-17 524051 POLYPLEX 19-May-17
533655 TRITURBINE 18-May-17 500346 PUNJCOMMU 19-May-17
533171 UNITEDBNK 18-May-17 532527 RKFORGE 19-May-17
507880 VIPIND 18-May-17 500112 SBIN 19-May-17
513713 WHITEORG 18-May-17 508961 SHRICON 19-May-17
532883 ZYLOG 18-May-17 539911 SNIM 19-May-17
500488 ABBOTINDIA 19-May-17 532293 SOFTTECHGR 19-May-17
532762 ACE 19-May-17 500402 SPMLINFRA 19-May-17
505216 ALFREDHE 19-May-17 514138 SURYALA 19-May-17
531677 ARISINT 19-May-17 500400 TATAPOWER 19-May-17
526847 ASHSI 19-May-17 532966 TWL 19-May-17
513142 BALASORE 19-May-17 539798 UMIYA 19-May-17
503960 BBL 19-May-17 532953 VGUARD 19-May-17
 511509 VIVOBIOT 19-May-17 523732 ECOBOAR 20-May-17
539118 VRLLOG 19-May-17 521014 EUROTEXIND 20-May-17
590013 XPROINDIA 19-May-17 500171 GHCL* 20-May-17
512367 ZSHERAPR 19-May-17 517571 INDLMETER 20-May-17
512291 ZSPEEDCO 19-May-17 523586 INDTONER 20-May-17
534742 ZUARI 19-May-17 512329 JARITEX 20-May-17
500780 ZUARIGLOB 19-May-17 507598 KLRF 20-May-17
539151 ARFIN 20-May-17 535387 LAKHOTIA 20-May-17
524695 ASIANFR 20-May-17 539785 PDMJEPAPER 20-May-17
531268 B2BSOFT 20-May-17 500343 PDUMJEPULP 20-May-17
500085 CHAMBLFERT 20-May-17 530419 SUMEDHA 20-May-17
534691 COMCL 20-May-17 500412 TIRUMALCHM 20-May-17
535267 COMFINCAP 20-May-17 532356 TRIVENI 20-May-17
531216 COMFINTE 20-May-17 502281 TRIVENIGQ 20-May-17
532329 DANLAW 20-May-17 522014 UNIDT 20-May-17

Earning Estimate Q4FY17

Date NSE CODE SALES SALES YoY PAT PAT YoY
16-May-17 SHREECEM 2214 9.70 229 2.40
16-May-17 TATASTEEL 33923 15.00 1581 LP
16-May-17 PIIND 606 3.70 94 0.10
16-May-17 PNB 3987 44.00 61 LP
17-May-17 HINDUNILVR 8068 4.50 1103 (1.00)
17-May-17 UBL 1158 (4.70) 61 16.90
17-May-17 JSWSTEEL 17346 62.20 713 332.10
17-May-17 MRPL 11975 28.90 443 (67.20)
17-May-17 BAJAJFINSV 1549 39.40 455 44.40
18-May-17 BAJAJ-AUTO 4911 (8.40) 842 (11.30)
18-May-17 CUMMINSIND 1261 18.80 186 11.20
18-May-17 JYOTHYLAB 541 9.60 48 341.40
18-May-17 PIDILITIND 1241 0.00 142 (8.40)
18-May-17 GDL 282 9.50 21 (21.50)
18-May-17 CESC 1556 5.20 249 0.30
18-May-17 BANKBARODA 3445 3.40 509 LP
18-May-17 MUTHOOTFIN 807 (6.70) 325 22.60
19-May-17 GRASIM 2398 (4.30) 249 19.50
19-May-17 GLAXO 729 6.30 88 (1.90)
19-May-17 HTMEDIA 672 6.50 41 8.00
19-May-17 JUSTDIAL 193 7.50 24 (31.10)
19-May-17 SBIN 15117 (1.10) 2230 76.50
 Economic Calendar
Monday Tuesday Wednesday Thursday Friday
Country
15th May 17 16th May 17 17th May 17 18th May 17 19th May 17
Building Permits ,
Housing Starts , Capacity
Philly Fed Manufacturing Index
Utilization Rate ,
Empire State Manufacturing , Unemployment Claims, CB
US Index
Industrial Production Crude Oil Inventories ,
Leading Index m/m , Natural
m/m, NAHB Housing
Gas Storage.
Market Index, TIC Long-
Term Purchases.

Flash GDP q/q , German

German PPI m/m ,
ZEW Economic Sentiment Average Earnings Index
Current Account , CBI
Italian Trade Balance , German , Trade Balance, ZEW 3m/y , Claimant Count German WPI m/m , Retail Sales
UK/EURO ZONE Buba Monthly Report Economic Sentiment , CPI Change , Unemployment m/m ,
Industrial Order
Expectations , Consumer
y/y , PPI Input m/m , RPI Rate , Final Core CPI y/y.
Confidence.
y/y , Core CPI y/y.

INDIA
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Road | Kolkata-700 020 , Ph : 033-40501500
em ail: narnolia@narnolia.com ,
w ebsite : w w w .narnolia.com

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