TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - Indian market showed huge buying on Friday, with a follow up rally in Midcaps and
Small caps. The Indian benchmark Index Nifty on last Friday made fresh all-time highs. It settled at record
closing highs as well. The Index closed at 9595 and made a high of 9605. On Monday trading session the Nifty
opened in cautious note down by 35 points or 0.36 per cent at 9604 level. The market were trading in strong
note last week on the back of 3rd Anniversary of Modinomics Thus from Monday market Focused on Non-
Performing Assets resolution Implementation of Goods and Services Tax and Macro Economic data. Nifty
opened in cautious note on Tuesday trading session Down by 14 points at 9590 made a high of 9635 and closed
with some gains at 9624 level. Amid the Global Concern , Indias Markit Manufacturing PMI data came below
market Expectation after the Terrible Quarter4FY17GDP at 6.1 per cent Growth. Which derailed the Country
fastest Growing Economy tag in the World to China which reported a Q4GDP 6.9 per cent. The Indian
Manufacturing PMI for May flashed as 51.6 Against estimate of 52.7 that is at 3 month low. Thus a Tepid GDP
& PMI data drag the Market on Thursday trading session, The Nifty index opened at 9606 down by 15 points
and made a high of 9634 after making a low of 9590 and closed at 9616. it may Again Indicate some stress in
the Market going on after the DeMo led initial disruption. Although a combination of lower CPI and Lower
Growth may also force the Reserve Bank of India to Change its Stance from neutral to Accomodative again
and thus market may be Also Expecting Dovish stance from Monetary Policy Committee in its Forth Coming
Policy on 7th June. We do expect even if RBI does not cut rate in June, It may Certainly act in August meeting.
If the Economic Activity will not rebound. Last day, Indian Benchmark Index traded in a very narrow range of
44 points by making a high of 9635 and a low of 9581 and closed at 9625. Fertilisers, Paper and Cements are
the sectors which has given a good rally after GST announcement. Time and Price Action Suggest that Nifty to
Sustain over 9680 level for Any further Up move toward 9740-9786-9800, On the Flip Side Sustaining below
9600 level may drag the Index toward 9540-9460 in near Term.

BANK NIFTY : - The Banking Shares Index Bank Nifty also gave a huge rally in last Friday trading session
where Index opened at 23151 and made a new high of 23408 after making a low of 23092 it has closed at
23362. The Index opened on Some flat note and traded volatile on First trading session of week, The Rally in
banking Stocks especially in Public Sector banks move the Index toward Up side,Although index failed to
Sustain it crucial 23400 levels. The S&P Global Rating said that , Indian banks' stressed assets are likely to
increase to 15 per cent of total loans by March 2018 even as their regulatory capital requirements will continue
to rise till 2019. Indian banks' credit profiles are unlikely to improve over the next 12 months, S&P said in a
report titled 'No Quick Cure for India's Banking Blues' The banking sector's total stressed assets will increase
to 13-15 per cent of the total by the end of March 2018, with PSU banks accounting for most of that loans. Last
day, Bank Nifty also made a record high of 23469 on the last trading session. PNB up by 3.07%, ICICI Bank
by 1.74% and Federal Bank up by 1% were among the major movers in the Index. Now Bank Nifty need to
Sustain over 23350 for further rally toward 23464-23520, On the other side Sustaining below 23300 may drag

the Index toward 23240-23160-23046 in near Term.

Monday, 05 June 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2
9760 9692 9658 9624 9556

WEEKLY R2 R1 PP S1 S2
9960 9726 9609 9492 9258

MONTHLY R2 R1 PP S1 S2
9876 9712 9630 9548 9384

BANK NIFTY

DAILY R2 R1 PP S1 S2
23530 23469 23389 23248 22966

WEEKLY R2 R1 PP S1 S2
24420 23672 23298 22924 22176

MONTHLY R2 R1 PP S1 S2
24439 23785 23358 23131 22677

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 9467 9302 9074 8796

BANK NIFTY 22852 22210 21350 20284

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 9409 9412 8770

BANK NIFTY 22699 22570 19595
PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given daily chart of Nifty has Applied Bollinger Band and
Parabolic Sar On the Technical Chart it has touched the Upper band of Bollinger Band which is
a cross signal for bullish market. Although it can be short term rally for Nifty but we could
witness the rally till 9760 level. As of Now the Crucial level as per Technical analysis is 9600-
9582 is Down side and 9692-9742 is Up side.
PATTERN FORMATION ( BANK NIFTY )

Detail of Chart - On the Above given daily chart of Bank Nifty has Applied Bollinger Band and
Parabolic Sar On the Technical Chart it has also touched the Upper band of Bollinger Band which
is a giving the signal for bull trend for upcoming week. Although it can be give Short-Tterm rally
for Index but we could witness the rally for Index in next week for the target of 23425-23542
level. As of Now the Crucial level as per Technical analysis is 23393-23435 is Up side and
23300-23285 is Down side
 NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2
ACC EQ 1683 1670 1298 1646 1635
ADANI PORTS EQ 364 360 355 351 346
AMBUJACEM EQ 244 243 242 241 240
ASIAN PAINT EQ 1179 1170 1165 1156 1151
AXISBANK EQ 517 514 511 508 505
BAJAJ-AUTO EQ 2869 2842 2807 2780 2745
BANKBARODA EQ 183 182 179 178 175
BPCL EQ 749 741 732 724 715
BHEL EQ 144 142 140 138 136
BHARTIARTL EQ 385 377 373 365 361
BOSCH LTD EQ 24529 24171 23917 23559 23305
BHARTI INFRATEL EQ 387 381 376 370 365
CIPLA EQ 541 532 525 516 509
COALINDIA EQ 272 270 267 265 262
CAIRN INDIA LTD EQ 2601 2579 2552 2530 2503
DRREDDY EQ 419 413 406 400 393
GAIL EQ 1171 1164 1154 1147 1137
GRASIM EQ 869 862 863 856 851
HCLTECH EQ 1627 1611 1597 1581 1567
HDFC EQ 1655 1645 1637 1627 1619
HDFCBANK EQ 3910 3856 3803 3749 3696
HEROMOTOCO EQ 203 201 197 195 191
HINDALCO EQ 1139 1118 1082 1061 1025
HINDUNILVR EQ 326 324 319 317 312
ICICIBANK EQ 321 319 317 315 313
ITC EQ 1536 1520 1502 1486 1468
INDUSIND BANK EQ 981 975 970 964 959
INFY EQ 82 81 80 79 78
IDEA CELLULAR EQ 976 970 967 961 958
KOTAKBANK EQ 1818 1805 1791 1778 1764
LT EQ 1441 1432 1426 1417 1411
M&M EQ 69553 68821 68260 67528 66967
MRF EQ 7231 7192 7149 7110 7067
MARUTI SUZUKI EQ 176 175 174 173 172
ONGC EQ 164 163 161 160 158
NTPC EQ 22 21 21 20 20
RCOM EQ 563 558 554 549 545
RELCAPITAL EQ 1350 1341 1329 1320 1308
RELIANCE EQ 496 490 484 478 472
RELINFRA EQ 43 42 41 40 39
RPOWER EQ 292 290 288 286 284
SBIN EQ 239 235 230 226 221
SSLT( VEDL) EQ 523 520 514 511 505
SUNPHARMA EQ 297 293 290 286 283
TATA MOTORSDVR EQ 2604 2578 2565 2539 2526
TCS EQ 488 483 481 476 474
TATAMOTORS EQ 83 82 81 80 79
TATAPOWER EQ 511 504 496 489 481
TATASTEEL EQ 163 162 159 158 155
UNIONBANK EQ 1510 1490 1468 1448 1426
YES BANK LIMITED EQ 532 528 525 521 518
ZEEL EQ 364 360 355 351 346
 TOP 15 ACHIEVERS // TOP 15 LOOSERS

SR.NO SCRIPT NAME PREV CMP % CHANGE SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE
CLOSE

1 AURO PHARMA 532 593 + 11.54 % 1 SUN PHARMA 567 514 - 9.38 %
2 CIPLA LIMITED 488 529 + 8.37 % + 2 TECH MAHINDRA 429 399 - 6.80 % -
3 HERO MOTOCORP 3618 3850 + 6.40 % 3 VEDANTA 242 228 - 5.67 %
4 DR. REDDYS LABS 2414 2556 + 5.90 % + 4 TATA STEEL 511 492 - 3.84 % -
5 M&M LIMITED 1340 1419 + 5.87 % 5 BHARAT PETRO 749 724 - 3.31 %
6 LUPIN LIMITED 1112 1165 + 4.75 % + 6 INFOSYS LIMITED 995 968 - 2.72 % -
7 NTPC 156 163 + 4.49 % 7 IOC 426 415 - 2.59 %
8 INDIABULLS 1086 1132 + 4.28 % + 8 ICICI BANK 321 318 - 1.04 % -
9 HINDUNILVR 1040 1084 + 4.17 % 9 ONGC 175 174 - 1.00 %
10 HDFC 1547 1609 + 3.95 % + 10 RELIANCE 1337 1326 - 0.84 % -
11 ITC LIMITED 309 318 + 3.25 % 11 YESBANK LTD 1493 1482 - 0.78 %
12 ADANI PORTS 348 358 + 2.93 % + 12 AXISBANK LTD 511 507 - 0.78 % -
13 ASIAN PAINTS LTD. 1132 1163 + 2.72 % 13 HINDALCO INDUS 198 197 - 0.68 %
14 INDUSIND BANK 1477 1516 + 2.59 % + 14 TATAMOT LTD. 481 478 - 0.53 % -
15 WIPRO LIMITED 539 552 + 2.41 % 15 SBIN 288 287 - 0.50 %
OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY
NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

Fiscal deficit at 3.5 per cent in FY17, spending gathers pace - The Narendra Modi
government's decision to unveil the budget early seems to have paid off with spending having
picked pace in the first month of the financial year itself. The government spent 11.3% of the
budgeted expenditure in April, with capital expenditure topping the overall spending. Fiscal
deficit in fiscal 2017 was 3.5% of GDP, in line with the budget projection, reflecting the
government's commitment to the process of fiscal consolidation. In fiscal 2016, the deficit was
3.9% of GDP. Higher than estimated capital spending has provided a boost to the quality of
expenditure relative to the revised estimates. The healthy uptick in service tax collections relative
to the revised estimates suggests improved compliance, which is a favourable trend," said Aditi
Nayar, principal economist at ICRA. The government in April spent 9.3% of the planned capex of
Rs 3.09 lakh crore, in what could give a big boost to overall growth. Capex spending in April a
year earlier was 8.5% of the budget estimate. Revenue expenditure was 11.6% of the budget
estimate in April FY18. The government had advanced the budget to February 1 the practice
was to present it on the last day of February to eliminate the several-month-long expenditure
lag to give the economy a boost.

States may gain Rs 350-450 bn in revenue post GST: StanChart - States can look at a higher
revenue of Rs 350-450 billion after GST implementation in mid-2017, says a Standard Chartered
report. According to Standard Chartered Bank's report titled India - States' Finances: The other
half of the story post GST implementation states can look at a total gain of Rs 350-450 billion,
roughly around 0.2-0.3 per cent of GDP. The study that assessed underlying dynamics of various
states' finances over a decade said if they can keep their fiscal deficits within the budgeted target,
and the Central government adheres to its target of 3.2 per cent of GDP, the combined 2017-18
deficit could be 6 per cent. The findings estimate that the 18 states tracked in the study aim to
keep their 2017-18 fiscal deficit unchanged from 2016-17 at 2.7 per cent of GDP. It is estimated
that the risk of slippage is limited to 0.1 per cent of GDP as additional interest payments on
UDAY bond issuance have been partially budgeted, most states are still assessing Pay
Commission recommendations, and additional expenditure burden of farm-loan waivers for most
states (apart from Uttar Pradesh) is likely to be small, the report said.

India to grow at 7.2% in 2017-18: World Bank - Giving thumbs up to the demonetisation of
high value currency notes last year and the upcoming roll out of the goods and services tax, the
World Bank has said the two reforms will increase the formalisation of the Indian economy. In its
latest India Development Update released on Monday, the World Bank said Indias economy will
grow 7.2% in fiscal year 2017-18. In the long-term, demonetisation has the potential to
accelerate the formalization of the economy the implementation of the GST is a key
complementary reform that will support formalization, as firms have a strong incentive to register
with GST to obtain input tax credits, the World Bank said in the biannual report themed
Unlocking Womens Potential. GST, the report said, would lead to higher tax collection, greater
digital financial inclusion and make Indias fundamentals stronger and yet not increase the burden
on the poor. Given the efficiency and revenue gains that the reform will eventually achieve, the
overall impact of the GST on equity and poverty is likely to be positive, it said. Indias economy
was slowing down in early FY17, until the favourable monsoon started lifting the economy, but
the recovery was temporarily disrupted by demonetisation . GDP growth slowed to 7% year-on-
year in the third quarter of 2016-2017 from 7.3% in the first quarter. As a result, a modest
slowdown is expected in the GDP growth in 2016-2017 to 6.8%, the bank said.

Several factors responsible for decline in GDP growth: Arun Jaitley - Several factors
including the global situation were responsible for decline in GDP growth to 6.1 per cent in the
fourth quarter of 2016-17, Finance Minister Arun Jaitley said today, dismissing suggestions that it
was on account of demonetisation. The minister further said some slowdown was visible even
prior to demonetisation of Rs 500/1000 currency notes announced by the government on
November 8 last year. "Seven-eight per cent growth is fairly reasonable level of growth and very
good by global standard and reasonable by Indian standard," Jaitley said while addressing media
on completion of three years of the Modi government. According to GDP data released
yesterday, growth rate slipped to 6.1 per cent in the January-March quarter and 7.1 per cent, the
lowest in the three years, during 2016-17. Referring to the challenges, he said the major ones
include resolving the issue of bad loans in the banking sector and encouraging private sector
investment. On privatisation of ailing national carrier Air India, Jaitley said Niti Aayog has
already given its recommendations to the Civil Aviation Ministry to explore various options. "It is
for the Civil Aviation Ministry to explore various options," he added.

GST, NPA resolution to improve India's credit profile, says Moody's Investors Service -
India's key reforms including the impending Goods and Services Tax and sticky loan resolution is
going to boost the country's credit profile, Moody's Investors Service said Thursday. Moody's said
that the wide-ranging reforms, also including the improving fiscal framework following the Fiscal
Responsibility and Budget Management Act recommendations will broaden the tax base and
anchor fiscal consolidation. Under such outcomes, the government's debt burden, a key constraint
on India's credit profile, would ease gradually," the global firm said. Moody's report focuses on
the potential credit impact of three key pending reforms: the GST, the fiscal framework following
FRBM and NPA resolution measures. Recent government measures to address NPAs and the
promulgation of the Insolvency and Bankruptcy Code 2016 are credit positive for the sovereign,
as they provide a clearer framework for NPA resolution," Moody's said.

Eight core sector growth slips to 2.5 per cent in April - A sharp fall in the output of coal,
natural gas and crude oil pulled down growth in the group of eight core sectors to a three-month
low in April. The core sector expanded 2.5 per cent in the first month of the new fiscal year,
compared with 5.3% in March and 8.7% a year earlier. The eight infrastructure sectors of coal,
crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity constitute 40.27%
of the total industrial production. The base year to calculate the growth in the core industries has
been revised to 2011-12 from 2004-05, starting April this year, in line with the new base year for
the Index of Industrial Production. As per data released by the commerce and industry ministry on
Wednesday, coal output slipped 3.8% and cement production fell 3.7%. Crude oil output dropped
0.6%. The base effect has also been in play with some numbers being low on account of higher
numbers last year. Negative growth in cement is a worry as it does reflect limited movement in
the infra space, said CARE Ratings chief economist Madan Sabnavis.

TOP ECONOMY NEWS

Manufacturing activity in India grew at a slower pace in May, a private survey showed on
Thursday. The Nikkei India Manufacturing Purchasing Managers Index fell to a three month low
of 51.6 from 52.5 in April. An upturn in new business supported output growth but rates of
increase eased in both cases. The upturn in the Indian manufacturing sector took a step back in
May, with softer demand causing slower expansions in output and the amount of new work
received by firms. Moreover, there was a renewed decline in new export orders," Said Pollyanna
De Lima, economist at IHS Markit and author of the report.

India's per capita income grew by 9.7 per cent to Rs. 1,03,219 in 2016-17 from Rs. 94,130 a year
ago. In 2015-16, the rate of growth of the country's per capita net income stood at 7.4 per cent.
The per capita income at current prices during 2016-17 is estimated to have attained a level of Rs.
1,03,219 as compared to the estimates for the year 2015-16 of Rs 94,130 showing a rise of 9.7 per
cent," an official release said.

Consumer price inflation is likely to rise above RBI's medium-term target of 4 per cent in 2017-
18 due to factors like rise in rural wages and transient impact of goods and services tax, said a
report. The uptick in underlying price pressure could push the RBI to hike rates this fiscal, said
the report by UBS. The global brokerage has estimated average consumer price index inflation,
excluding the house rent allowance, is expected to be at 4.2 per cent and 4.5 per cent for 2017-18
and 2018-19, respectively.
The negative impact of demonetisation exercise may have been neutralised on account of the
positive impact of UP elections and the economy may post a better-than-expected 7.5 per cent
growth in FY'17, says a report by global ratings firm subsidiary Moody's Investor service. "The
negative impact of last year's demonetisation on the economy has been limited in size and
duration," said a report by Moody's Investor Service.

Funds worth Rs. 980 crore have been released as against Rs. 2,630 crore claims made to NHAI in
the last six months since introduction of the arbitration scheme, India Ratings and Research
Said. "In the last six months since introduction of the arbitration scheme INR 9.8 billion funds
have been released compared to INR 26.3 billion claims made to National Highways Authority of
India," Ind-Ra said in a statement.

The inability of road developers and project companies to receive bank guarantees have slowed
down the release of arbitration claims for infrastructure developers. According to rating company,
India Ratings in the last six months since introduction of the arbitration scheme Rs. 980 crore
funds have been released compared to Rs. 2,630 crore on claims made to National Highways
Authority of India.

India's manufacturing sector needs to grow at 12-14 per cent for the country's overall growth rate
to touch 8 per cent, NITI Aayog member V K Saraswat said. the former DRDO chief said the
country's current share of Gross domestic product expenditure for research in the defence sector
was inadequate. "If we have to touch the overall GDP growth of eight per cent, we need to have
manufacturing growth at almost 12-14 per cent compound annual growth rate ," he said.

Revenue secretary Hasmukh Adhia and Karnataka agriculture minister Krishna Byre Gowda
shared the stage on Tuesday, projecting a joint Centre-state effort in support of the goods &
services tax. Adhia is on a cross-country tour to explain the nuances of GST and has already
visited the North East and Gujarat to iron out issues ahead of the launch on July 1.

Reform measures undertaken by India will broaden its tax base and help the government cut
down on debt, but high stressed assets in the banking sector pose contingent liability risks, said
Moodys. Effective implementation of key fiscal and banking sector reforms will address Indias
core credit challenges, and even though GST will have a muted short-term impact, but its benefits
will accrue over a medium term, it said.

Despite a gloomy global economic scenario, we have restored the credibility of the Indian
economy, said Union Finance Minister Arun Jaitley while speaking on the three years of Modi
government. Modi government inherited a "weak" economy and through active reform measures
the government has successfully changed the face of the economy,

TOP CORPORATE NEWS -

Escorts Limited on Thursday informed that agri machinery segment sold 6886 tractors in May
2017, up by 29% as against 5331 tractors in May 2016. The domestic sales for the month of May
2017 increased by 29% to 6770, as against 5252 tractors in May 2016. Exports sales in May 2017
surged by 47% to 116, as against 79 tractors in May 2016.

Mahindra & Mahindra Limited farm equipment sector, a part of the US$ 17.8 billion Mahindra
Group, informed its tractor sales numbers for May 2017. Domestic sales in May 2017 were at
24,575 units, as against 22,148 units during May 2016. Total tractor sales during May 2017 were
at 25,599 units, as against 23,018 units for the same period last year. Exports for the month stood
at 1,024 units.

Jubilant Life Sciences Limited was trading on a bullish mood surged nearly 3% on the 2nd half
of Thursdays trade. The company has received an oral order from National Green tribunal on
May 31, 2017 allowing to restart of the manufacturing operations of the company distillery unit at
Gajraula Subject to certain stipulations. Pursuant to the order, the company has restarted
operations of the distillery unit with effect from June 01, 2017.

ITC Limited on Thursday was up by 1.3% at Rs. 316 per share at 14:30 hours IST. It is
contributing significantly to the FMCG index gains. It hit a high of Rs 316.90 and a low of Rs
311.20 so far during the day. Its peers include Godfrey Phillips India, VST Industries and Golden
Tobacco. On the NSE, the traded volume of shares is 59,01,895 and the traded value is Rs
18,606.31 lakh. The free float market capitalisation is Rs 2,65,128.78 crore.

Maruti Suzuki India Limited on Thursday has announced its auto sales data for the month of
May 2017. The company total sales soared 11.3% to 1.37 lakh units in May 2017 as against 1.23
lakh units in May 2016. The total domestic sale of the company rose by 15.5% to 1,30,676 in
May 2017 and sales of utility vehicles segment spiked by 66.3% in the same month. Analysts
believe that the rising popularity of cars like Vitara Brezza, S-Cross, Gypsie and Ertiga has
changed the sales number of the company in the last few months.

JK Paper Limited, on Wednesdays after-market hours, announced that the board of directors
will consider allotment of equity share of the company on June 8,2017. The allotment of the
equity share is consequent to conversion notices received from one of the Foreign Currency
Convertible Bonds holder, seeking conversion of its FCCBs and FCCBs (Series 2) of Euro 2.4
million each into equity share of the company.

Cadila healthcare Limited has received final approval from the USFDA to market Felbamate
Tablets USP in strengths of 400 mg and 600 mg. Felbamate is an oral drug used to treat seizures
in people with epilepsy. It will be produced at the groups formulation manufacturing facility in
Ahmedabad.

Vedanta Limited, on Wednesday, announced that a Board-appointed panel via an issuance of

non-convertible debentures has approved raising up to Rs. 350 crore. The company in its
exchange filing added that the NCDs are to be redeemed after two years from the date of
allotment through cash flows of the company.

Ujaas Energy Limited has received a letter of intent from Moil Ltd for the design, engineering,
procurement, supply, construction, erection testing and commissioning of 5.5 MW solar PV
plants with a tracking system on turnkey basis at mines in Madhya Pradesh. The board of
directors of the company on the previous day has recommended a final dividend of Rs 0.05 per
equity share for the financial year ended Mar 31, 2017.

NLC India Limited on Tuesday informed that it plans to increase the borrowing powers of board
of directors of the company upto Rs. 35,000 crore and creation of security on the assets of the
company up to that value. The board of directors has also given approval for the proposal to seek
approval of shareholders through postal ballot, as per Exchange filing.

Mahindra and Mahindra Limited , a flagship company of the Mahindra Group is the top Nifty
gainer in opening sessions on Wednesday. The stock was trading at Rs 1420 per share clocking
gains of Rs 60 per share or 4.4% on the NSE at 0935 hours. The tractor and utility maker posted a
26.3% growth in profit at Rs 873.72 crore for the fourth quarter ended March 2017. The
companys bottom line was boosted by other income.

Steel Authority of India Limited Q4FY17 standalone results for the quarter came in mixed
versus consensus estimates. Revenue for the quarter came in 16% lower than the estimated figure
of Rs. 14245 crore. However, net loss for the quarter came in at Rs. 771 crore against estimated
net loss of Rs. 737 crore. Steel Authority of India Ltds standalone revenue for the quarter came
in at Rs. 11970.36 crore, registering 11.8% yoy increase. This was majorly driven by 25.5% and
23.3% y-o-y increase in revenue from Rourkela plant and Bokaro plant respectively.

Hindalco Industries Q4FY17 standalone results for the quarter registered a beat on street
estimates. Revenue for the quarter came in 3.8 % higher than the estimated figure of Rs. 10620
crore. EBITDA for the quarter came in 1.8 % lower than the estimated figure of Rs. 1372 crore.
And lastly, net profit for the quarter came in 9.1 % higher than the estimated figure of Rs. 460
crore.

Natco Pharma Limited Q4FY17 consolidated results for the quarter registered a beat on
consensus estimates. Revenue for the quarter came in 13 % higher than the estimated figure of
Rs. 511 crore. EBITDA for the quarter came in 16.5 % higher than the estimated figure of Rs. 207
crore. And lastly, net profit for the quarter came in 38.5 % higher than the estimated figure of Rs.
127.6 crore. Natco Pharmas consolidated revenue for the quarter came in at Rs. 578 crore,
registering 46.7% y-o-y increase.

Piramal Enterprises Limited group company, Piramal Finance has invested Rs. 565 crore in
two auto component sector entities. Piramal Enterprises has pumped in Rs. 275 crore in RSB
Group and Rs. 290 crore in Indoshell Mould Limited. The investments were made through the
Corporate Finance Group , erstwhile Structured Finance Group of Piramal Finance Limited.

Coal India Limited, a state-owned mining company, slipped to its 3-year low after the company
posted a 38.24% drop in its consolidated net profit at Rs. 2,716.09 crore for the fourth quarter of
2017. The stock tanked to Rs. 259.5 per share, down as much as 2.9% touching its biggest
intraday loss since March 2014.

Larsen & Toubro Limited on Tuesday informed that the construction arm of the company, i.e.
L&T Construction has won orders worth Rs. 5146 crore across various business segments,
according to a Exchange filing. The power transmission & distribution business has won major
orders worth Rs. 2780 crore in the domestic and international markets. The water & effluent
treatment business has bagged orders worth Rs. 1292 crore.

Jubilant Foodworks Limited is buzzing on the bourses after reporting poor quarterly results.
The stock is the top open interest gainer as of 1128 hours on Tuesday. It is also one of the top five
most active stocks by value in the Tuesdays trade. The stock is trading weak on Tuesday. It has
touched intraday low of Rs. 817.2 per share, down by 13.1% on NSE. The stock attracted the
traded volume of 34,28,657 shares and traded value of Rs. 295.22 Crore.

Bharat Heavy Electricals Limited slumped over 10.5% on the NSE at 1050 hours as the
company posted a 57% drop in its net profit for the fourth quarter ended on March 2017.The
stock hit a lower circuit of Rs. 138 per share. The PSU posted a profit of Rs. 216 crore for the
quarter, compared with Rs. 506 crore posted for the corresponding period last year.
 TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Indias Bankruptcy Code, billed as the panacea for banks saddled with bad loans, could well
backfire if the lender fails to correctly utilise the law. The National Company Law Appellate
Tribunal, New Delhi, has rebuked the countrys biggest private lender, ICICI Bank Limited, for
moving a default application against Starlog Enterprises at the National Company Law Tribunal,
Mumbai Bench, with misleading claims. The Appellate has imposed a Rs. 50,000 fine on the
lender for the incorrect claim.

Weighed down by sticky loans and net losses, the state-run Bank of India has decided to go for
one-time settlements of loans with errant borrowers as one of the key recovery strategies. The
lender, with a pile of Non-Performing Assets running to Rs. 52045 crores, is ready to take the
OTS route for all borrower segments.

The government will sooner or later have to make the difficult choice between putting more
money into public sector banks or making some strategic decisions for these lenders besieged by
rising bad loans and paucity of capital, Uday Kotak founder and vice chairman of Kotak
Mahindra Bank said in the banks annual report.

Banks are now armed with more information than ever before on cardholders. They can now tell
which cardholder is likely to default, and in which defaulter's case it is worthwhile to pursue and
recover funds.

YES Bank Limited bet on the Unified Payments Interface platform, launched in August last year,
has helped it steadily make a significant space for itself in the digital payments ecosystem. The
bank is now on the cusp of breaking even on investments made for its UPI operations.
Beleaguered bankers on Tuesday demanded that the Reserve Bank of India ease conditions on
loans that would qualify for restructuring under the so-called S4A scheme and permit them to
spread the losses arising out of such a deal over many quarters, said two people familiar with the
matter.

Indian banks' stressed assets are likely to increase to 15 per cent of total loans by March 2018 even as
their regulatory capital requirements will continue to rise till 2019, S&P Global ratings said. Indian
banks' credit profiles are unlikely to improve over the next 12 months, said S&P Global Ratings in a
report titled 'No Quick Cure for India's Banking Blues' The banking sector's total stressed assets will
increase to 13-15 per cent of the total by the end of March 2018, with PSU banks accounting for most
of that loans.
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