MARKET Diary

27-Jan-17

Market

Nifty Intraday Chart

Market
Morning Traded Market

KEY LEVELS
Support 1 : 8429
Support 2 : 8227

Value

% Change

SGX NIFTY

8,667.00

-0.32%

NIKKIE

19456.43

0.28%

HANG SENG

23,347.50

-0.11%

Sensex
Nifty

27,708.00
8,602.75

1.21%
1.50%

DOW
NASDAQ

20,100.91
5,655.18

0.16%
-0.02%

CAC

4,867.24

-0.21%

DAX

11,848.63

0.36%

FTSE
EW ALL SHARE

7,161.49
15,595.89

-0.04%
1.15%

Resistance 2: 8674
Resistance 3: 8736

Yesterday Closing Market

Market Outlook
Indian equities gave a sharp up move
throughout the day on Wednesday and after
opening on a positive note, Nifty
Event Today continuously rose to make a high of
Quarterly Results
8612.15. At the end of the day the index
AVANTI, COLPAL, BEL
closed the January future and
option
expiry at 8602.75. The broader market was
BINANIIND ,EVEREADY,
INDIACEM , ITC, JUSTDIAL, in the grip of bulls and the midcap and small
indices closed after gaining over 1% each.
KKCL , LGBFORGE ,
On the sectoral front, Banking, Media and
SUNDARMFIN, SHANTIGEAR
Financial services stocks were on the buyers
TATACOFFEE , ZUARI
radar while Pharmaceuticals and IT indices
closed in red. The breadth of the market
Board Meetings
was positive and about three shares
ABGSHIP : General
advanced for two shares declined at NSE.
The Indian Sugar Mills Association (ISMA)
has lowered its sugar production estimate
Concall
by about 9% at 21.3 million tonnes for FY
Chola Invest : 10:00 AM
IDFC Bank : 10:30 AM
2016-17 as against 23.37 lakh tonnes
Ashok Leyland : 10:30 AM projected in September 2016. A drop in
Heritage Foods : 2:30 PM production could lift local prices and prompt
Coromandel Intl : 2:30 PM the world's largest consumer to allow duty
free imports of the sugar.
Karur Vysya Bk : 3:00 PM
Post breaking the resistance of 8444 Nifty
Tata Elxsi : 3:00 PM
made a large trading swing accelerated by
settlement related factors. Going ahead
Raymond : 4:00 PM
budget will be key for shot term trend.

% Change in 1 day

Commodity Price ( Yesterday Closing )

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

Value

% Change

28385.00

-1.18%

41193.00

-1.26%

53.77

-0.02%

226.80

-0.35%

68.08

0.00%
0.02%
0.08%

72.82
85.86

% Change in 1 day

Institutional Turnover
FII
Investor

Buy(Cr.)

Sale(Cr.)

Net(Cr.)

8874

7495

1379

Jan-17

23976

26854

(2878)

2017

23976

26854

(2878)

Buy(Cr.)

Sale(Cr.)

Net(Cr.)

3576

3193

383

Jan-17

18807

15716

3091

2017

18807

15716

3091

25-Jan-17

DII
Investor
25-Jan-17

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
BIOCON

NEUTRAL"

27th Jan 2017

Approval from USFDA and EMA for Bio-similar Trastuzumab will help the company to take advantage of this huge opportunity. Apart from
that Biocons management expects growth from Malaysian facility to boost further by expected qualification of this facility by emerging
markets regulators in coming quarters. On the contrary ongoing price control pressure in India and US and discontinuance of key products
may put some uncertainties in near term. Hence we maintain Neutral rating in this stock.

JYOTHYLAB

"BUY"

27th Jan 2017

Going forward, management is confident of demand revival as demonetization effect will ease of. As far as margin is concern, the company
is looking to increase prices by 5-7% going ahead which gives us confidence that company may protect margin going forwards.
Implementation of GST may be game changer for Organized FMCG players. It may boost market share of the company in times to come.
Lastly, JYOTHYLAB gets large chunk of its revenue from South market and South market conditions are improving rapidly which is positive
for this company. Considering better volume growth in Q3FY17, companys guidance for pricing growth, dominance in South market and
expected implementation of GST in FY18, We have positive view on this company with price target of Rs 410.
*For details, refer to our daily report- India Equity Analytics

Top News
Maruti Concall Highlights:
> Other income increased on account of huge capital gains.
>Royalty rate for the quarter stood at 5.5%; if there is no
currency movement then the same rate would be applicable
going ahead.
> Waiting period for Baleno: 24 weeks; Brezza: 18 weeks and
Ignis: 8-10 weeks
> Discounts for the quarter was Rs.19048.
> Commodity prices are going up so some cost pressure would
be in 4QFY17 but bulk of impact has been reflected in 3QFY17
> The company has not taken any price increase.
> Sales from government employees has been robust (sales
contribution 20%)
> Capex plan-Rs.3500 crore; large chunk of it would be for new
models and rest is for R&D expenses and maintenance of old
plants.
> Maintenance capex is approx Rs.700-800 crores but this may
go up going ahead.(machineries are 30 years old)
> Marketing expenses are 2.6% of sales and this would be
slightly higher going ahead.
> Target audinece for Ignis is 18-25 years.
> The company has plans to launch atleast one new model every
year.
Mgt Int : BIOCON
Biocon is well poised to be a frontrunner in biosimilars. The
acceptance of biosimilar Trastuzumab by the USFDA is a huge
milestone for Mylan and Biocon
">>Expects its Malaysian facility, which has begun commercial
operations, to contribute to insulin sales. The order from
Malaysia for insulin is worth USD 75 million over 3 years and is
extendable by another two years.
>>The facility will help Biocon resolve supply challenges it faced
in India

Natco Pharma did not follow quality control measures "fully" at it

formulation plant in Telangana. The US drug regulator has made six
observations after the completion of inspection of its Kothur
formulation facility in Telangana, Natco . The responsibilities and
procedures applicable to the quality control unit are not fully
followed...The written stability testing programme is not followed.
Mgt Int : L&TFH
The company faced a negative impact of demonetisation in the quarter
and added that the effects were seen across the sector.
>>Mgt is confident that profitability will continue and the company is
well on track to achieve its target of 18% return on equity (RoE) by
2020.
>>cashless disbursements of loans helped the company offset cash
crunch impact to some extent.
>>The company is working hard to move towards cashless disbursement
in microfinance and expects the situation to come back to normalcy in
Q1FY18.
>>Tractor and microfinance sector saw collection issues in the quarter.
Average collection in microfinance remained at Rs 1,300.
Mgt Int : BHARATFIN
>>A slowdown in disbursements after the government did away with
popular bank notes in November would result in a flat fourth quarter
and also impact profitability in FY17.
>>The microfinance company primarily dealt with cash disbursements
and the note ban had meant that people had limited ability to withdraw
large amounts of cash. The company had made efforts to move towards
cashless transactions, but the bigger change in approach would take
some time to set up.
>>The cashflow situation was still evolving, especially in states such as
Uttar Pradesh and Maharashtra, but there were signs of improvement.

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

M&M

Buy

1243.8

1274

BATAINDIA
Feb.450 PE

Short
(1 lot =
1100)

10

Target 2 Stop Loss

1308

Narnolia Securities Ltd

Rational

1212

The stock has given a price

volume breakout
above Rs 1240. Some fresh buying is likely to
emerge in the stock from the current level.

15

After making a short term crucial base near Rs

455, the stock has given a good pullback rally
from that level. It is very unlikely to breach this
level in the short term

Result Calendar Q3FY17

BSE Code
531866
523411
523269
530799
539301
512573
539834
500049
512404
500059
532485
500830
533167
530393
517477
500246
531508
532285
505250
530001
514386
517372
526779
590065
511355
530005
532240
532612
500875
535648
504840
531784
530443
500241
532732
531206
533007
517463
539767
531049
532999
531254
531859
521080
517522

Company Name
AAGAMCAP
ADCINDIA
ADVANIHOTR
ANNAINFRA
ARVSMART
AVANTI
BALGOPAL
BEL
BENGALS
BINANIIND
BLIL
COLPAL
COROENGG
DBSTOCKBRO
ELNET
ENVAIREL
EVEREADY
GEOJITBNPP
GGDANDE
GUJALKALI
GUJCOTEX
GUJINTRX
HINAFIL
IMPAL
INDCEMCAP
INDIACEM
INDNIPPON
INDOCO
ITC
JUSTDIAL
KAIRA
KCLINFRA
KIRANSY-B
KIRLOSBROS
KKCL
KWALITYCL
LGBFORGE
LINAKS
MNIL
NEELKAN
NEXTGENT
OPTIFIN
ORVENPR
PASARI
RAJGLOWIR

Date
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17

BSE Code
505807
512115
519413
532841
522034
500389
532872
507753
506003
590071
532790
532301
522142
513428
530401
532893
532016
511038
534742
505036
537292
533758
531310
500069
530495
531210
531472
526783
500128
538881
532482
526899
507438
500220
532686
532967
539686
500510
530011
514418
531221
540254
537291
530365
514460

Narnolia Securities Ltd

Company Name
ROLCOEN
ROSEMER
RUIAAQA
SAHYADRI
SHANTIGEAR
SILVERLINE
SPARC
SREERAYA
SUDAI
SUNDARMFIN
TANLA
TATACOFFEE
TECHFOR
TRINETRA
VINYOFL
VTMLTD
WELLESLEY
ZARCOLEA
ZUARI
ACGL
AGRITECH
APLAPOLLO
AVAILFC
BNKCAP
CHHATTIND
COLINZ
CYBELEIND
DRAGARWQ
ELECTCAST
GALADAFIN
GRANULES
HIMIN
IFBAGRO
JASCH
KERNEX
KIRIINDUS
KPEL
LT
MANGCHEFER
MANORG
MAYURFL
MTPL
NATHBIOGEN
ORIENTBELL
OSWAYRN

Date
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
27-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17

539354
526490
531688
515127
532972
523236
503811
519242
500404

POLYSPIN
PRATIK
PRITHVISOF
RAMMA
SANKHYAIN
SHRENUJ
SIYSIL
SRDAPRT
SUNFLAG

28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17

526576
539871
500412
524717
530045
502281
532402
505232
531950

TECHIN
THYROCARE
TIRUMALCHM
TITANBIO
TITANSEC
TRIVENIGQ
USGTECH
VELJAN
VERTEX

28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17
28-Jan-17

PAT
48
142
2582
39
322
1100
22

PAT Growth ( % )
780.80
3.50
-2.70
43.20
8.90
6.30
-18.30

PAT
86.56
2.77
75.62
185.57
9.33
12.66
163.38
111.81
-14.04
154.12
-7.34
6.11
28.07
70.90
1744.00
17.20
4.15
-14.09
-0.53
1.10
-10.80
100.80
43.78
-24.46
459.18
2109.00

PAT Growth ( % )
-67.88
-810.26
-26.80
-6.58
44.43
57.66
10.37
39.14
-608.70
15.06
-109.12
-16.87
29.00
33.82
71.10
1.06
-7.78
-136.05
-116.99
-66.57
-266.92
157.93
9.72
14.09
60.14
-5.60

Earning Estimate Q3FY17

BSE Code
530005
500830
500875
532482
500049
500510
535648

Company Name
INDIACEM
COLPAL
ITC
GRANULES
BEL
LT
JUSTDIAL

SALES
1192
995
8810
407
1850
27300
171

BSE Code
533573
513729
500101
500477
532888
500067
511243
506395
508906
500086
532832
500214
533293
532889
532500
532440
512626
500330
502090
532163
502180
509930
500408
505854
512070
507685

Company Name
APLLTD
AROGRANITE
ARVIND
ASHOKLEY
ASIANTILES
BLUESTARCO
CHOLAFIN
COROMANDEL
EVERESTIND
EXIDEIND
IBREALEST
IONEXCHANG
KIRLOSENG
KPRMILL
MARUTI
MPSLTD
ORBTEXP
RAYMOND
SAGCEM
SAREGAMA
SHREDIGCEM
SUPREMEIND
TATAELXSI
TRF
UPL
WIPRO

SALES
777.00
51.43
2335.00
4723.33
245.66
926.00
1184.16
2270.00
251.24
1949.00
300.00
192.00
689.00
613.96
19173.10
80.01
28.12
1306.93
220.50
54.23
63.15
1107.24
309.00
231.22
3987.00
13764.50

sales Growth ( % )
28.20
7.50
-4.00
18.00
21.90
5.70
0.00

Result Q3FY17
Sales Growth ( % )
-15.89
13.48
8.56
17.22
4.92
30.71
12.29
-17.05
-9.91
28.13
-54.45
-5.04
15.80
-0.90
29.83
15.99
-1.33
-5.57
95.25
0.76
-27.49
-20.00
12.74
2.86
18.06
6.28

Narnolia Securities Ltd

Country

US

UK/EURO ZONE

Monday
23th Jan 17

Flash Manufacturing PMI,

Flash Services PMI.

Economic Calendar
Tuesday
Wednesday
24th Jan 17
25th Jan 17

Existing Home Sales ,

Richmond Manufacturing
Index .

French Flash Manufacturing

PMI, French Flash Services
PMI, German Flash
GfK German Consumer
Manufacturing PMI , German Climate, Public Sector Net
Flash Services PMI, German Ifo Borrowing, Italian Retail
Business Climate , Flash
Sales m/m, Italian 10-y
Manufacturing PMI, Flash
Bond Auction.
Services PMI, CBI Industrial
Order Expectations.

HPI m/m, Crude Oil

Inventories.

Nationwide HPI m/m ,

German 30-y Bond
Auction, CBI Realized
Sales, Belgian NBB
Business Climate,

INDIA

Narnolia Securities Ltd

Thursday
26th Jan 17

Friday
27th Jan 17

Advance GDP q/q, Core

Unemployment Claims,
Durable Goods Orders m/m,
Goods Trade Balance, Prelim Advance GDP Price Index q/q,
Wholesale Inventories m/m, Durable Goods Orders m/m,
New Home Sales, Natural Gas
Revised UoM Consumer
Storage.
Sentiment, Revised UoM
Inflation Expectations.

Spanish Unemployment
Rate, German Prelim CPI
m/m , Prelim GDP q/q, BBA
Mortgage Approvals, Index
of Services 3m/3m.

French Prelim GDP q/q, French

Prelim CPI m/m, M3 Money
Supply y/y, Private Loans y/y.

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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