MARKET Diary

19-Jan-17

Market

Nifty Intraday Chart

Market
Morning Traded Market

KEY LEVELS
Support 1 : 8263
Support 2 : 8134
Resistance 2: 8530
Resistance 3: 8674

Value

% Change

SGX NIFTY

8,428.00

-0.08%

NIKKIE

19109.29

1.12%

HANG SENG

23,029.09

-0.30%

Sensex
Nifty

27,257.64
8,417.00

0.08%
0.23%

DOW
NASDAQ

19,804.72
5,555.56

-0.11%
0.30%

CAC

4,844.88

-0.31%

DAX

11,571.11

0.27%

FTSE
EW ALL SHARE

7,230.91
15,297.51

0.15%
0.42%

Yesterday Closing Market

Market Outlook
Indian equities gave a volatile movement
throughout the day on Wednesday and after
opening on a subdued note, Nifty rose to make
Event Today an intraday high of 8460.20 and then it fell to
make a low of 8397.45. At the end of the day
Buy Back of Shares the index closed at 8471.00. It had a net gain
of 0.23% over the previous days close. The
APARINDS
midcap and small indices also moved in line
( Exdate : 19.1.2017)
with the benchmark index and closed the day
Bonus issue
in green.
On the sectoral front, All major indices closed
NUTRA ( Ratio 1:10 )
in green while the Metal and Banking stocks
( Exdate : 19.1.2017)
were on the buyers radar. The breadth of the
Interim Dividend
market was positives with more advances than
ISGEC : Rs 15 /- share
declines.
NHPC : Rs 1.7/- share
Countrys retail inflation further eased to
( Exdate : 19.1.2017)
nearly 3-year low at 3.41% in December,
Reduction of Capital reflecting weak demand as the consumer
CYBERMAT
grappled with cash crunch following
( Exdate : 19.1.2017)
demonetization. We believe the Reserve Bank
Consolidation of Shares of India to go for at least 25 basis points rate
SANGUI ( Exdate : 19.1.2017) cut in its next monetary policy meet on
February 8.
Quarterly Results
Nifty is trading in a very small zone for last 2-3
ALEMBICLTD, AXISBANK, trading session without giving much of a clue
about its next trading move. Presence of high
DBCORP, FEDERALBNK,
LAKSHVILAS, MINDTREE, open interest both for Calls (8400, 8500) and
Puts(8300, 8200) suggest low probability of
YESBANK, UJJIVAN
high trending move till expiry of January
HESTERBIO
series. But sharp movement expected within
Concall
larger range of 8200-8500. Trump swearing
Federal Bank: 1:30 PM
into office on Jan 20 and his first presidential
address will trigger next trading move.
KPIT : 4:00 PM

% Change in 1 day

Commodity Price ( Yesterday Closing )

Commodity/Currencies
GOLD
SILVER
CRUDEOIL
NATURALGAS
DOLLAR/RS.
EURO/RS.
POUND/RS.

Value

% Change

28971.00

0.18%

41997.00

0.96%

52.35

-0.57%

225.50

-2.63%

68.08

0.19%
-0.02%
0.03%

72.50
83.64

% Change in 1 day

Institutional Turnover
FII
Investor
18-Jan-17
Jan-17
2017

Buy(Cr.)

Sale(Cr.)

Net(Cr.)

4134

3815

319

91611

110444

(18833)

975582

972017

3565

Buy(Cr.)

Sale(Cr.)

Net(Cr.)

2646

2401

245

61214

44148

17066

452855

425073

27782

DII
Investor
18-Jan-17
Jan-17
2017

Yes Bank : 5:00 PM

MindTree : 5:30 PM
Axis Bank : 7:00 PM

Quote of the Day : "Develop into a lifelong self-learner through voracious reading; cultivate curiosity and
strive to become a little wiser every day." Charlie Munger
Narnolia Securities Ltd

IEA Snapshot
HAVELLS

"NEUTRAL"

19th Jan 2017

Despite currency impact, the company has surprised us with unexpected revenue growth as well as robust demand in Industrial cable in
terms of volume (21%). Right now we are not seeing any major uptick both in the industrial demand as well as residential demand.
Switchgear and lighting segment had flat revenue growth during Q3FY17. On the other hand company is also looking at expansion of its
product portfolio and will continue to look at acquisition opportunities. But in the near term, considering demonetization head wind we are
little cautious on Havells with `Neutral rating and a target price of Rs 395.

JKIL

"BUY"

19th Jan 2017

JKIL Q2FY17 was impacted due to heavy monsoon but we expect to ramp up in execution in H2FY17. Work has commenced on 3 Mumbai
metro projects. However, the major revenue booking from Mumbai metro projects will start from FY18E as the projects are in the initial
stage. We expect top line of Rs.1540 Cr @ 9% YoY growth in FY17E based on execution ramp up on stuck JNPT road projects and robust
top line of Rs.2226 Cr @ 44% YoY growth in FY18E with strong operating margin. Currently, the stock is trading at 5.9 times of FY17E
EV/EBITDA and 1.3 P/B. We expect RoE of 8.6% in FY17E and 11.7% in FY18E. Hence, we initiate our coverage on the stock and recommend
BUY with target price Rs. 330
*For details, refer to our daily report- India Equity Analytics

Top News
Havells Concall highlights
>Company gained market share in unorganised sector and
looking emerging market to expand.
>As per the management Q4FY17 will be very tough and things
will be normalized going forward
>Company do not see any impact of GST in the coming quarter
FY17 it might impact in Q1FY18
>Company is not seeing growth in lighting segment for the next
two years
>There is 15% price increase in cable segment due to increase in
copper price
>Advertising spend will be same as previous i.e. 3% of sales
>Company took land in Karnataka and Rajasthan where part of
the payment has been done
>Total capex for FY17 was 250-260 cr out of which 150cr has
been spend so the remaining capex is 100cr.
HMVL : 3QFY17 Concall update:
Media spend across all sectors cut due to demonetization.
Previous year base was high due to Bihar election.
Ad growth was robust till festive season but after 8 Nov 2017,
ad volume declined sharply.
Next quarter, Mgt. sees significant improvement in ad revenue
better than Nov and Dec due to UP election and ease of
demonetization effect.
DAVP rate hike in Jan will have marginal affect on HMVL.
The company is taking different cost efficiency measure which
will be reflected in next year.
BIHAR: Competitor in Bihar has reduced yield in some of their
categories to increase its volume. HMVL has increased yield in
Bihar and UP. Government ad contributes 13-14% of the total
revenue.
Average realization has improved by 5%YoY.

Warburg Pincus, private equity firm focused on growth investing,

announced that it will hold an equity stake of approximately 14 percent
in PVR Limited, India's largest film and retail entertainment company for
approximately Rs 820 Crores. The current promoters will continue to
drive the business and remain the largest shareholders with a
shareholding greater than 20 percent.
CANFINHOME Mgt Guideline
The company stayed unaffected by demonetisation citing companys
portfolio and the type of loans it gave.
Fresh loan sanctions in Q3 grew 33 percent and the momentum will
continue in Q4.
The Mgt expects steady set of return ratios going forward.
Zydus Cadila has received the final approval from the USFDA to
market Methotrexate tablets USP, 2.5 mg, a chemotherapy drug used
for leukemias, lymphomas, breast cancer, lung cancer, and head and
neck cancer and other cancers.
Cipla said its subsidiary Goldencross Pharma has entered into a pact
to sell its entire stake in Four M Propack to Shriji Polymers for a
consideration of up to Rs 19.2 crore. The transaction is expected to be
completed within 45 days from the date of signing of the definitive
agreement
U.S. industrial production rose to 0.8%, from -0.7% in the preceding
month whose figure was revised down from -0.4%. Analysts had
expected industrial production to rise 0.6% last month.
Euro zone core CPI remained unchanged at a seasonally adjusted
annual rate of 0.9%, from 0.9% in the preceding month. Analysts had
expected Euro zone core CPI to remain unchanged at 0.9% last month.

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

ABB

Buy

JUBLFOOD Jan
900 CE

Long
(1 lot =
500)

Initiation Price

1147.15

17.8

Target 1

1198

28

Target 2 Stop Loss

1247

40

Narnolia Securities Ltd

Rational

1098

After consolidating near Rs 1100, the stock has

given a smart
pullback rally yesterday with
decent volumes. Another 5-10% upside is
expected in the stock in short term.

The stock has given a price

volume breakout
above Rs 877 yesterday. Some fresh buying is
likely to emerge in the stock at the current
level.

Result Calendar Q3FY17

BSE Code
538935
506235
512247
532215
539662
539122
533151
503681
500469
533896
533265
540124
524669
505283
534690
512455
526179
530497
532819
539347
524546
534680
512257
510245
540210
539874
532648
533096
533029
526847
500027
523229
533108
532483
530457
524768
502865
505982
500449
535789
533676

Company Name
ABHIFIN
ALEMBICLTD
ASHCAP
AXISBANK
BFLDEV
BODHTREE
DBCORP
ELCIDIN
FEDERALBNK
FERVENTSYN
GALLISPAT
GNA
HESTERBIO
KIRLPNU
LAKSHVILAS
LLOYDSME
LUDLOWJUT
MARVEL
MINDTREE
PHL
SHABCHM
SRGHFL
SVARTCORP
SWASTIVI
TMRVL
UJJIVAN
YESBANK
ADANIPOWER
ALKALI
ASHSI
ATUL
BHARATSE
BTTL
CANBK
CINERAD
EMMESSA
FORBESCO
HINDUJAFO
HOCL
IBULHSGFIN
INDOTHAI

Date
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
19-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17

BSE Code
531550
533148
532926
539910
537800
521018
500304
502420
532742
522257
532987
540065
531539
501061
502742
530883
504273
539132
509966
512345
522134
506894
533146
530079
500033
530777
511618
532162
517415
540115
532504
533179
511640
508969
505685
532410
532538
506690
532432
532389
526525

Narnolia Securities Ltd

Company Name
JHACC
JSWENERGY
JYOTHYLAB
KOCL
MANGIND
MARALOVER
NIITLTD
ORIENTPPR
PAUSHAKLTD
RAJOOENG
RBL
RBLBANK
RISHDIGA
SBBJ
SINTEX
SUCROSA
TUMUSEL
VEGETABLE
VSTIND
YASTF
ARTSONEN
CHEMFALKAL
DLINKINDIA
FAZE3Q
FORCEMOT
INFRAIND
JIKIND
JKPAPER
LEENEE
LTTS
NAVINFLUOR
PERSISTENT
SANGHCO
SULABEN
TAPARIA
TRANSCOR
ULTRACEMCO
UNICHEMLAB
UNITDSPR
VALECHAENG
WWLEATH

Date
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
20-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17
21-Jan-17

Earning Estimate Q3FY17

BSE Code
532215
500469
540065
532648
532483
532819
533179
532538
532926
532432

Company Name
AXISBANK
FEDERALBNK
RBLBANK
YESBANK
CANBK
MINDTREE
PERSISTENT
ULTRACEMCO
JYOTHYLAB
MCDOWELL-N

SALES
4492
738
329
1463
2393
1300
733
5344
376
2289

sales Growth ( % )
7.90
21.90
NA
26.50
7.40
7.00
23.70
-7.00
1.00
-5.00

PAT
684
187
120
845
413
106
68
508
22
113

PAT Growth ( % )
-68.60
15.00
NA
25.00
386.10
-29.90
-12.20
-0.20
42.10
2145.70

PAT
8
29
4
44
22
74
6
17
13
50
71

PAT Growth ( % )
28.82
64.07
-1.88
-6.49
45.21
0.01
6.27
110.48
14.84
20.83
15.61

Thursday
19th Jan 17

Friday
20th Jan 17

Result Q3FY17
BSE Code
500215
531531
500186
533217
502330
532400
511766
506590
532663
532374
521064

Country

Company Name
ATFL
HATSUN
HINDOILEXP
HMVL
IPAPPM
KPIT
MUTHTFN
PHILIPCARB
SASKEN
STRTECH
TRIDENT

Monday
16th Jan 17

SALES
208
946
5
230
348
830
70
538
111
732
1135

Economic Calendar
Tuesday
Wednesday
17th Jan 17
18th Jan 17
Empire State
Manufacturing Index,
NAHB Housing Market
Index, TIC Long-Term
Purchases.

US

UK/EURO ZONE

Trade Balance.

INDIA

WPI Data

Sales Growth ( % )
2.94
14.02
-10.15
-3.16
23.71
2.09
20.84
18.00
-11.99
37.44
27.84

CPI m/m, Core CPI m/m,

Capacity Utilization Rate,
Industrial Production
m/m, Crude Oil
Inventories, Beige Book.

Building Permits , Philly Fed

Manufacturing Index,
Unemployment Claims,
Housing Starts, Natural Gas
Storage.

CPI y/y,PPI Input m/m, RPI

Average Earnings Index
y/y , Core CPI y/y , PPI
3m/y, Claimant Count
Output m/m, German
Change, Unemployment
ZEW Economic Sentiment,
Rate, Final CPI y/y, Final
ZEW Economic Sentiment,
Core CPI y/y.
German WPI m/m.

Current Account, Minimum

Bid Rate, ECB Press
Conference.

Narnolia Securities Ltd

German PPI m/m , Retail Sales

m/m , Consumer Confidence.

N arnolia Securities Ltd

201 | 2nd Floor | Marble Arch Bu ild ing | 236B-AJC Bose
Road | Kolkata-700 020 , Ph : 033-40501500
em ail: narnolia@narnolia.com ,
w ebsite : w w w .narnolia.com

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