Morning Notes. Domestic Market View. LKP Advisory. 4-Jan-2016

Transcription

1 Morning Notes 4-Jan-2016 Indices 1-Jan 31-Dec % Chg. Major Indices 1-Jan 31-Dec % Chg. FII's & DII's in equity Rs.Crs S&P BSE SENSEX 26,161 26, % CAC 40 Index 4,637 4, % 01-Jan Buy Sell Net S&P CNX NIFTY 7,963 7, % DAX Index 10,743 10, % FII / FPI Investments NIFTY MIDCAP ,540 13, % Dow Jones Industrial A 17,425 17, % DII's Investments NIFTY SMALL 100 5,717 5, % FTSE 100 Index 6,242 6, % FII's contribution to the total turnover 5% Nasdaq Composite Ind 5,007 5, % DII's contribution to the total turnover 10% BSE Sectoral Indices NIFTY REALTY % Major Asian Indices 1-Jan 31-Dec % Chg. FII's in Derivatives Rs.Crs NIFTY PSU BANK 2,908 2, % Hong Kong 21,914 21, % 01-Jan Index Fut Index Opt Stock Fut Stock Opt NIFTY AUTO 8,328 8, % Nikkei ,034 19, % Net NIFTY INFRA 2,793 2, % Korea 1,961 1, % OI NIFTY BANK 17,039 16, % Shanghai 3,539 3, % Chg.OI 2.7% 5.3% 1.2% 519.2% NIFTY FIN SERVICE 7,091 7, % Taiwan 8,338 8, % FIIs' contribution to the total Derivatives turnover 14% NIFTY METAL 1,830 1, % NIFTY CONSUMPTIO 3,613 3, % Commodities (MCX) 1-Jan 31-Dec % Chg. Curr. Derivatives (NSE) 1-Jan 31-Dec % Chg. NIFTY PHARMA 11,980 11, % Aluminium (29JAN % USDINR 27-JAN % NIFTY ENERGY 8,595 8, % Copper(29FEB2016) % EURINR 27-JAN % NIFTY FMCG 20,185 20, % Crude (19JAN2016) 2,480 2, % JPYINR 27-JAN % NIFTY MEDIA 2,627 2, % Gold (05FEB2016) 24,962 24, % DJIA ( ) % NIFTY IT 11,175 11, % Silver (4MAR2016) 33,335 33, % S&P500 ( ) % Top Gainers Top Gainers Top Gainers Top Gainers BSE Smallcap BSE Midcap BSE 100 CNX Nifty Company LTP Chg % Chg Company LTP Chg % Chg BOSCHLTD GAIL Top Losers TATAMOTORS HCLTECH ADANIPORTS NTPC VEDL ZEEL PNB TATASTEEL Company LTP Chg % Chg Company LTP Chg % Chg RELINFRA JINDALSTEL Top Losers RELCAPITAL GAIL DLF HCLTECH RPOWER NTPC EICHERMOT ZEEL Company LTP Chg % Chg Company LTP Chg % Chg RELINFRA BERGEPAINT Top Losers RELCAPITAL JINDALSTEL CONCOR SJVN ADANIPOWER CRISIL HAVELLS ZEEL Company LTP Chg % Chg Company LTP Chg % Chg UJAAS MUKANDLTD Top Losers SREINFRA MONNETISPA INDOTECH VMART INDOSOLAR VIKASWSP OPTOCIRCUI SSWL CNX Nifty BSE 100 BSE Midcap BSE Smallcap Domestic Market View Markets to make soft start on weak global cues The Indian markets after a choppy trade managed to end slightly in green in last session. Today, the start of the session is likely to be weak and the markets will be extending their decline tailing sluggish global cues. Sentiments will also be dampened on report that foreign funds stayed away from Indian equities in 2015 and invested just Rs 17,806 crore ($3.2 billion) in stock markets last year as compared to Rs 1 lakh crore invested each into equities in the preceding three years. Traders will also be concerned with Former finance minister P Chidambaram stating the government has not been able to fulfill its promises. He also argued that since the GDP growth for is not likely to be higher than 7% to 7.3%, the economy is stuck in a groove. Shares of the three listed aviation companies will continue to be in action for second straight day after oil marketing companies slashed aviation turbine fuel prices by 10 per cent, the fourth consecutive monthly cut. Cement stocks too will be in action after average cement prices declined sharply by 7.3 per cent in December 2015 compared to the same month in the previous year mainly due to weak demand.

2 Domestic Market Overview New Year cheer leads Indian equities to a positive close on first trading day The domestic benchmark equity indices managed to gather some impetus in final hours of the session to snap the first trading day of 2016 on an optimistic note, with moderate gains. Earlier, Indian benchmarks started the day on subdued note due to lack of participation coupled with disappointing macro data that prompted some investors to book profits at lower levels. Sentiments remained bearish on the report that India's core sector contracted 1.3% in November after expanding for six consecutive months, dragged down by a sharp decline in steel production due to weak demand and imports. The fall in core sector output may curb industrial growth, which reached a fiveyear high of 9.8% in October. Furthermore, India's fiscal deficit at the end of November was 87% of the target for the entire financial year, suggesting some struggle over the next four months but the government is still expected to stay within the budgeted figure without resorting to material spending cuts. The fiscal deficit for is budgeted at Rs 5.5 lakh core, or 3.9% of GDP. However, bellwether indices pared their losses and entered into positive terrain in late afternoon session on the back of shortcoverings and hopes that the Reserve Bank of India (RBI) will reduce key lending rates after Thursday's disappointing macro data points. Eventually the NSE s 50-share broadly followed index Nifty, settled with marginal gains of around two tens of a percent above the crucial 7950 support level while Bombay Stock Exchange s Sensitive Index Sense added merely forty three points and closed above the psychological 26,150 mark. Moreover, broader markets showed some resilience by outclassing their larger peers by a big margin as investors carried forward their value hunting in beaten down shares from the midcap and small cap space. Global Market Overview US markets remained shut on account of New Year s Day The US markets remained closed on Friday on account of New Year s Day holiday.

3 Index Futures (OI in '000 Shares) Future Chg Spot Chg Prem / Total Open Interest 1-Jan (%) 1-Jan (%) Disc 1-Jan Chg (%) NIFTY 7, , , CNXIT 11, , BANKNIFTY 17, , , Increasing OI, Increasing Delivery Qty & Increasing Price in Stock Futures (Open Interest in '000 Shares) Symbol Total OI Del Qty Cash Market Prev Increase Spot Fut Spot Fut Prem / 1-Jan % Chg. 1-Jan % Del. % Del. Del Qty (Rs.) (Rs.) Chg (%.) Chg (%.) Disc BEML % 139,470 33% 32% 62, % 1.9% 9.6 HAVELLS 7,660 10% 877,987 26% 52% 283, % 5.4% 1.9 WOCKPHARMA 3,562 9% 281,326 26% 22% 166, % 5.0% 9.7 CEATLTD 1,849 8% 103,879 18% 21% 50, % 2.2% 5.6 BIOCON 3,683 7% 827,055 35% 40% 122, % 0.7% 3.3 ADANIENT 13,158 6% 1,028,034 17% 17% 596, % 8.1% 0.6 SYNDIBANK 8,815 6% 334,585 25% 30% 6, % 2.0% 0.3 EICHERMOT 229 6% 48,184 26% 29% 23, % 3.2% 99.4 CENTURYTEX 7,830 4% 296,129 27% 24% 102, % 3.4% 4.2 ABIRLANUVO 832 4% 246,196 71% 66% 79, % 0.3% 10.1 Increasing OI, Increasing Delivery Qty & Decreasing Price, (Open Interest in '000 Shares) Symbol Total OI Del Qty Cash Market Prev Increase in Spot Fut Spot Fut Prem / 1-Jan % Chg. 1-Jan % Del. % Del. Del Qty (Rs.) (Rs.) Chg (%.) Chg (%.) Disc Open Interest Break-up (Rs. in Cr.) 01-Jan 31-Dec Change in OI % Chg INDEX FUTURES 19,173 14,058 5, INDEX OPTIONS 82,109 64,578 17, TOTAL INDEX 101,282 78,636 22, STOCK FUTURES 62,294 48,339 13, STOCK OPTIONS 7,575 3,491 4, TOTAL STOCKS 69,869 51,831 18, GRAND TOTAL 171, ,467 40, FII's 101,513 98, Others 69,638 32,

4 Corporate News Stone India has received its 1st export order for supply & installation of 7 units of Bio-Toilets at Myanmer valuing $ 7,059 from Global Protek, Singapore Ashok Leyland, the commercial vehicle manufacturer, has reported an increase of 31% in sales in December 2015 to 12,209 units as against 9,290 units sold in the same period of last year. The company has experienced a jump of 35% in its medium and heavy commercial vehicle (M&HCV) products segment to 9,758 units in December The company s light commercial vehicle (LCV) segment witnessed a rise of 18% to 2,451 units in December Steel Strips Wheels, a Chandigarh-based company has registered gross turnover at Rs crore in December 2015 as compared to crore in the same month in 2014, recording growth of 7.8%. Eicher Motors motorcycle division has reported a 41% jump in total sales in December 2015 at 40,453 units, as against units in the same month last year. During December 2015, the number of motorcycle units exported, decreased by 9% to 416 units from 455 units in December Escorts Agri machinery segment (EAM), a subsidiary of Escorts, has sold 2751 tractors in December 2015 against 3021 tractors in December Domestic sales in December 2015 stood at 2727 tractors against 2871 in December Export for the month of December 2015 stood at 24 tractors against 150 tractors in December Kotak Mahindra Bank (KMB) has acquired 10,00,000 equity shares at Rs 10 each aggregating to Rs 1 crore being 9.99% of the paid-up capital of Institutional investor Advisory Services India (IiAS) on January 01, Coal India, the world s largest coal miner by output, has reported provisional production of million tonnes in December 2015, as against target of million tonnes. The company s total off-take for the month of December stood at million tonnes as against a target of million tonnes. Hero MotoCorp, the world's largest two-wheeler manufacturer has clocked 499,665 units of two-wheeler dispatches in December The company had sold 526,097 units in December The company has reported 5.02% decline in December Tata Motors continued to witness year-on-year growth in the M&HCV segment in December 2015, with a growth of 6%. Total sale of the company s passenger and commercial vehicles (including exports) were at 39,973 vehicles, lower by 4%, over 41,734 vehicles, sold in December The domestic sale of Tata commercial and passenger vehicles for December 2015 were at 35,416 units lower by 6% over 37,776 vehicles sold in December The cumulative sales (including exports) for the fiscal at 364,946 units, higher by 1% over 362,986 vehicles, sold last year. Thomas Cook (India) s subsidiary - Quess Corp (formerly IKYA Human Capital Solutions) has completed the acquisition of MFXchange Holdings Inc (MFX) from Fairfax Financial Holdings (Fairfax), with the purchase of the remaining 51% stake in the company pursuant to the terms of a share purchase agreement that was entered into with Fairfax on November 3, Quess had earlier acquired a 49% stake in MFX from Fairfax in November 2014 under the purchase agreement. SML Isuzu has reported 18.27% fall in December sales. The company has sold 877 vehicles during December, 2015 against 1073 vehicles sold in December, Om Metals Infraprojects, India's leading hydro-mechanical engineering company, has bagged a contract for detailed Engineering & Designing, procurement, Manufacturing, inspection, shop assembly, testing, painting, transportation, site storage, site erection, installation, testing & commissioning of hydro mechanical works of Vyasi HE Project in district Dehradun, Uttarakhand worth Rs crore from Uttarakhand Jal Vidyut Nigam (UJVN). The contract is to be executed over a period of 25 months. Mahindra & Mahindra s (M&M) Farm Equipment Sector (FES), a part of the $16.9 billion Mahindra Group, has reported its sales numbers for December Domestic sales in December 2015 stood at 11,686 units, up by 4% as against 11,286 units during December 2014.

5 Eicher Motors and Volvo Group s joint venture firm, VE Commercial Vehicles (VECV) has reported 44.3% jump in total sales in December 2015 at 5,068 units as against 3,512 units in the same month last year. Eicher-branded trucks and buses recorded sales of 4,951 units in December as compared to 3,398 units in the same month last year, a gain of 45.7%. Mahindra & Mahindra (M&M), India s leading SUV manufacturer, has reported its auto sales numbers which stood at units during December 2015 as against units during December 2014, registering a growth of 4%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 18,197 units in December 2015 as against 17,980 units during December 2014, up by 1.21%. SMS Pharmaceuticals has won first India Pharma Award 2015 in the two categories viz. India Pharma Bulk Drug company of the year and India Pharma Bulk Drug Export company of the year from Ministry of Chemical & Fertilizers - department of pharmaceuticals, Government of India. Ortel Communications has received its board s approval for availing term loan of Rs crore and additional overdraft facility upto Rs 5.00 crore from Karnataka Bank with interest rate of 13.25%. Atul Auto has reported 8.01% growth in sales for the month of December 2015 at 4,005 units as compared to 3,708 units sold in December The company s total sales from April to December this year rose by 6.49% and stood at 33,372 units as compared to 31,338 units in the same period last year. Foods & Inns has decided to close totally and irrevocably the manufacturing operations at Chembur Unit situated at Sion Trombay Road, Deonar, Punjabwadi, Mumbai from close of working hours with effect from December 30, Goa Carbon has temporarily shut down operations at its Bilaspur Plant, Sirgitti Industrial Area, Bilaspur in Chhattisgarh from December 31, 2015 on account of the inventory of finished material. There would not be any financial impact due to the temporary shutdown of the company s Bilaspur Unit. Maruti Suzuki India, country s largest car maker, has registered a rise of 8.5% in its total car sales (Domestic + Export) for the month of December 2015 at 119,149 units, as against 109,791 units in The company s domestic sales rose by 13.5% in December 2015 at 111,333 units, as against 98,109 units in corresponding month last year. Piramal Enterprises is mulling to issue non-convertible debentures (NCDs) to raise up to Rs 500 crore. The company s meeting of the Committee of Directors (Funding) will be held on January 05, 2016 to consider and approve the same. GAIL has entered into a binding Gas Sale and Purchase Agreement (GSPA) with Petronet LNG (PLL) for supply of an additional quantity of 0.30 MMTPA of RLNG with effect from January, Further, both the entities have entered into an agreement to adjust some aspects of their existing long term GSPA of 4.5 MMTPA. Vivimed Laboratories has received Competition Commission of India s (CCI) approval to sell some of its products in its specialty chemicals division to drug firm Clariant Chemicals India. Earlier in September, Vivimed had signed a pact for sale of some products in its specialty chemicals division to Clariant Chemicals India for a consideration of about Rs 380 crore. Power Grid Corporation of India s (PGCIL) wholly-owned subsidiary has successfully completed the Khammam-Nagarjunasagar transmission line which would facilitate inter-state exchange of power in southern region. Orient Green Power Company has trimmed its stake in Pallavi Power and Mines in favour of its joint venture partner Shalivahana Green Energy. The board of Pallavi Power, its subsidiary, has allotted it 2.10 lakh equity shares of Rs 100 each. It has also allocated 6.42 lakh shares of Rs 100 each to Shalivahana Green Energy, the joint venture partner. This brings down Orient Green s holding in Pallavi Power to percent from 51 percent previously. Avanti Feeds has invested Rs crore in the equity share capital of Avanti Frozen Foods and the shares were allotted to the company on December 31, The company has invested in share capital pursuant to subscription of rights issue of Avanti Frozen Foods.

6 Torrent Power is planning to raise debt with option for lenders to convert that loan or financial assistance into equity upon occurrence of certain conditions. In this regard, the company s shareholders approved the special resolution for availing of the financial assistance (loans or debt) having an option available to the lenders for conversion of such financial assistance into equity shares of the company upon occurrence of certain events. Drug firm Orchid Pharma has received Establishment Inspection Report (EIR) from the US health regulator on the successful inspection closure for its Irungattukottai formulations plant in Tamil Nadu. The facility was inspected by the USFDA in the month of May State-owned miner NMDC is planning to start commercial production of its 3 million tonne per annum capacity steel plant in Chhattisgarh by the middle of The plant erection will be completed by December The company is in the process of setting up a steel plant in Nagarnar in Chhattisgarh with an investment outlay of over Rs 15,000 crore. The capacity of the steel plant will be about 60 percent for the first year and will go up gradually to 100 percent over a period of time. Corporation Bank, public sector lender has allotted over 2.8 crore shares to Life Insurance Corporation of India (LIC) to raise around Rs 143 crore. Consequent upon these issues, LIC's holding in Corporation Bank has increased to per cent. State-owned Indian Oil Corporation (IOC) has reduced Petrol prices by 63 paise per litre and Diesel prices by 1.06 paise per litre with effect from the midnight of December 31, 2015/ January 1, The price of petrol in Delhi will become Rs a litre, while diesel will be Rs a litre. The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision. Sunrise Asian s one of its subsidiaries - Indus Cine Production is releasing its movie named as Main Rani Himmatwali in Bhojpuri language produced under the banner of Indus Cine Production. The movie is directed by Manoj Kumar Narayan starring Rani Chatterjee in lead role. Bharat Petroleum Corporation (BPCL) has entered into a binding Gas Sale and Purchase Agreement (GSPA) with Petronet LNG (PLL) for supply of an additional quantity of 0.1 MMTPA of RLNG with effect from January, This is in addition to the existing long term GSPA of 0.75 MMTPA, which was executed in September, The terms of existing agreement have also been amended to adjust some aspects, which will protect and preserve the overall value of the contract. Hatsun Agro Product has successfully completed the acquisition of a Feed Mill unit belonging to VKS Farms, Coimbatore on December 31, 2015 under the Private Treaty Agreement with the Indian Overseas Bank, Mid Corporate Branch, Coimbatore and VKS Farms. KEC International (KEC), a global infrastructure EPC major, an RPG Group Company has secured new orders worth Rs 1,001 crore in its Transmission & Distribution, Cables and Solar businesses. Novartis India has completed the transaction for the transfer of its Animal Health Division to Elanco India on December 31, This is pursuant to the approval received from the Foreign Investment Promotion Board, Government of India and the Competition Commission of India. Indian Oil Corporation (IOC) has entered into a binding Gas Sale and Purchase Agreement (GSPA) with Petronet LNG (PLL) for supply of an additional quantity of 0.3 MMTPA of RLNG with effect from January, This is in addition to the existing long term GSPA of 2.25 MMTPA, which was executed in September, The terms of existing agreement have also been amended to adjust some aspects, which will protect and preserve the overall value of the contract.

7 .Economy Qatar lowers gas price, waives India s Rs 12,000 crore liability Qatar has nearly halved the price of gas it sells under a 25 year contract and has also waived a payment liability of Rs 12,000 crore arising from India s refusal to import the committed number of shipments in 2015 under the 'take-or-pay' clause. Petronet LNG, India's largest importer of gas in ships, and Qatar's RasGas agreed to a new pricing formula that would see gas price dropping to $6-7 per unit from the original $ The new formula is linked to Brent crude, the European benchmark, and would entail a saving of Rs 4,700 crore annually for the fertiliser industry alone, the biggest consumer of liquid gas. A lower fuel cost would automatically reduce the government's fertiliser subsidy. Under the new formula, the impact on power tariffs would be nominal, if at all, since gas-fired stations account for 7-8% of total capacity. Gas utility GAIL would stand to benefit since the lower price would prompt gas demand, raising utilisation of the utility's pipelines. Besides, in return for the renegotiation, the two companies also signed a separate contract for one million tonne of additional gas for the remaining tenure of the deal, which has given a benefit of $15 billion by way of lower prices when they were going up in the 11 years since supplies began in 2003.India is the second liquid gas buyer after China to have successfully renegotiated a longterm contract in tune with the changed reality of slump in prices and supply glut in the global energy market. Fiscal deficit stands at 87% of Budget estimate in April- Nov 2015 India s fiscal deficit for the first eight months of the current financial year narrowed compared to the same period a year ago, led by encouraging tax and non-tax collections, despite high capital spending by the government to boost the economic growth. According to the data released by the Controller General of Accounts, India s fiscal deficit for April- November stood Rs 4.83 lakh crore, or 87 per cent of the Budget Estimate (BE) for the whole The fiscal situation in April-November showed improvement over the year-ago period as the deficit then stood at 98.9% of the Budget Estimate of As per the data released, tax revenue during April- November period came in at Rs 4.64 lakh crore, or 50.5 per cent of the full year BE of Rs 9.19 lakh crore as against 42.3 per cent the same period last fiscal Total receipts from revenue and non-debt capital of the government during the first eight months read Rs 6.5 lakh crore. The government estimates Rs lakh crore receipts at end-march The data further highlighted that the total expenditure touched Rs 11.4 lakh crore or 64.3 per cent at the end of November of budget estimate for the current fiscal, partially higher than 59.8 per cent of the full year funds spent last fiscal. The plan expenditure during this period was Rs 2.9 lakh core, 64.1 per cent of the full-year BE. During the same period last year, the government had managed to achieve 51.1 per cent of Plan expenditure estimate. Meanwhile, non-plan expenditure during April-October of was Rs 8.4 lakh crore, or 64.3 per cent, of the whole-year estimate. Core sector output contracts by 1.3% in November 2015 India s core sector, after expanding for six consecutive months contracted 1.3% in November, dragged down by a sharp decline in steel production due to weak demand and imports. Registering the steepest fall in over a decade, the output in the eight key infrastructure industries, comprising nearly 38 % of the weight of items included in the Index of Industrial Production (IIP) plunged in November 2015 by 1.3 per cent compared to the same month a year ago, indicating a possible hiccup in the nascent economic recovery and a downturn in industrial production. Last time, the sectors were in negative zone was in April, when they shrank by 0.4%, while the rate of growth rate in October was 3.2%. According to that data released by the ministry of Commerce and Industry showed the combined Index of eight core industries coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity stands at in November, 2015, which was 1.3% lower compared to the index of November, Its cumulative growth during April to November, was 2.0%.

8 The decline in the core sector growth for the month of November was mainly on account of contraction in the output of steel, cement and crude oil production. Crude Oil production having weight of 5.22% declined by 3.3% in November, 2015 over -0.1% in November, Its cumulative index during April to November, decreased by 0.4% over the corresponding period of previous year. Natural gas production with the overall weight of 1.71% contracted by 3.9% in November, 2015, over -2.3% in November last year. Its cumulative index during April to November, declined by 2.3% over the corresponding period of previous year. Steel production having weight of 6.68% declined by 8.4% in November, 2015 over 9.9% in the same period last year. Its cumulative index during April to November, declined by 1.5% over the corresponding period of previous year. Cement production having weight of 2.41% decreased by 1.8 % in November, 2015 over 10.5% in November Its cumulative index during April to November, increased by 2.1% over the corresponding period of previous year. Engineering Exports Promotion Council against MIP for steel import Engineering Exports Promotion Council (EEPC) is strictly against the government s move to restrict steel imports by way of fixing Minimum Import Price (MIP) stating that if the MIP is imposed, it would be a complete destruction of the medium and small scale engineering sector. It further said that MIP would significantly push the import price of a variety of steel products. EEPC in its statement has said that There is no justification for the government to help handful of big steel makers, by way of fixing MIP, at the cost of millions of SME export firms which will be forced to pay much higher price for their raw material. The government is considering imposing a minimum import price for about a dozen steel products. The move is aimed at checking cheap imports, especially from surplus producers like China, Japan and South Korea. This is being done to protect the handful of primary steel producers on the grounds that they are over-leveraged and their bank loans could become NPAs. In the first eight months of the current fiscal the engineering exports, largest contributor in the country's export basket, have fallen by over 14 per cent to $39.85 billion. External debt of the country rise 1.7% at the end of September Raising some concern of the government, the external debt of the country rose 1.7% to $483.2 billion at the end of September an increase of $8.0 billion over the level at end-march 2015, due to long-term liabilities, especially commercial borrowings and nonresident Indian deposits. Finance Ministry in its release has said the increase would have been higher than $8 billion if not for valuation gains from the appreciation of the US dollar against the rupee and most major currencies, estimated at $5.7 billion. The rise in external debt during the period was due to long-term external debt particularly commercial borrowings and NRI deposits. However, on a sequential basis, total external debt at September-end declined by $291 million from the June end. Also, excluding the valuation effect, the increase in debt would have been higher by $13.7 billion at end-september 2015 over the end-march 2015 level. Long-term debt, which accounted for 82.2% of total external debt in September, was placed at $397.1 bn, an increase of 1.9% from March. Short-term external debt increased 0.7% to $86.1 billion. Share of commercial borrowings was highest at 37.7% of total external debt, followed by NRI deposits at 25.2% and multilateral debt at 11%. At end-september 2015, long-term external debt accounted for 82.2% of India's total external debt, while the remaining 17.8% was short-term external debt. Source: Reuters, Ace Equity & LKP Research

9 Tech View CNX Nifty Technical View NA IMPORTANT LEVELS FOR THE DAY Support BSE NSE BANKNIFTY S1 26, S2 25, Resistance R1 26, R2 26, Pivot 26,122 7,949 16,977

10 Tech View PIVOT POINTS Scrip Name CMP RB2 RB1 PP SB1 SB2 Scrip Name CMP RB2 RB1 PP SB1 SB2 ACC GAIL ADANIENT GLENMARK ADANIPORTS GMRINFRA ADANIPOWER GODREJIND ALBK GRASIM AMBUJACEM HAVELLS ANDHRABANK HCLTECH APOLLOHOSP HDFC APOLLOTYRE HDFCBANK ARVIND HDIL ASHOKLEY HEROMOTOCO ASIANPAINT HEXAWARE AUROPHARMA HINDALCO AXISBANK HINDPETRO BAJAJ-AUTO HINDUNILVR BANKBARODA HINDZINC BANKINDIA IBREALEST BATAINDIA ICICIBANK BHARATFORG IDBI BHARTIARTL IDEA BHEL IDFC BIOCON IFCI BPCL IGL CAIRN INDIACEM CANBK INDUSINDBK CENTURYTEX INFY CESC IOB CIPLA IOC COALINDIA IRB COLPAL ITC CROMPGREAV JINDALSTEL DABUR JISLJALEQS DISHTV JPASSOCIAT DIVISLAB JPPOWER DLF JSWENERGY DRREDDY JSWSTEEL EXIDEIND JUBLFOOD FEDERALBNK JUSTDIAL

11 Tech View Scrip Name CMP RB2 RB1 PP SB1 SB2 Scrip Name CMP RB2 RB1 PP SB1 SB2 KOTAKBANK TATACHEM KTKBANK TATACOMM L&TFH TATAGLOBAL LICHSGFIN TATAMOTORS LT TATAMTRDVR LUPIN TATAPOWER M&M TATASTEEL M&MFIN TCS MARUTI TECHM MCDOWELL-N TITAN MCLEODRUSS UBL MRF UCOBANK NHPC ULTRACEMCO NMDC UNIONBANK NTPC UNITECH OFSS UPL ONGC VOLTAS ORIENTBANK WIPRO PETRONET YESBANK PFC ZEEL PNB POWERGRID PTC RCOM RECLTD RELCAPITAL RELIANCE RELINFRA RPOWER SAIL SBIN SIEMENS SRTRANSFIN SUNPHARMA SUNTV SYNDIBANK

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