Morning Notes 17-Dec-2015 Indices 16-Dec 15-Dec % Chg. Major Indices 16-Dec 15-Dec % Chg. FII's & DII's in equity Rs.Crs S&P BSE SENSEX 25,494 25,320 0.69% CAC 40 Index 4,625 4,614 0.22% 16-Dec Buy Sell Net S&P CNX NIFTY 7,751 7,701 0.65% DAX Index 10,469 10,450 0.18% FII / FPI Investments 2732 3236-503 NIFTY MIDCAP 100 12,994 12,941 0.41% Dow Jones Industrial A 17,749 17,525 1.28% DII's Investments 2289 1265 1024 NIFTY SMALL 100 5,377 5,362 0.28% FTSE 100 Index 6,061 6,018 0.72% FII's contribution to the total turnover 34% Nasdaq Composite Ind 5,071 4,995 1.52% DII's contribution to the total turnover 20% BSE Sectoral Indices NIFTY ENERGY 8,214 8,102 1.38% Major Asian Indices 16-Dec 15-Dec % Chg. FII's in Derivatives Rs.Crs NIFTY INFRA 2,649 2,618 1.22% Hong Kong 21,701 21,274 2.01% 16-Dec Index Fut Index Opt Stock Fut Stock Opt NIFTY REALTY 165 163 1.13% Nikkei 225 19,050 18,566 2.61% Net 92 779 537-147 NIFTY BANK 16,579 16,399 1.10% Korea 1,969 1,933 1.88% OI 15040 80222 50556 3665 NIFTY FIN SERVICE 6,873 6,802 1.05% Shanghai 3,516 3,510 0.17% Chg.OI -3.0% 2.7% 0.9% 4.1% NIFTY IT 11,145 11,058 0.78% Taiwan 8,185 8,073 1.38% FIIs' contribution to the total Derivatives turnover 26% NIFTY PHARMA 11,638 11,555 0.72% NIFTY PSU BANK 2,893 2,882 0.39% Commodities (MCX) 16-Dec 15-Dec % Chg. Curr. Derivatives (NSE) 16-Dec 15-Dec % Chg. NIFTY MEDIA 2,440 2,437 0.16% Aluminium (31DEC201 100 99 1.01% USDINR 29-DEC-2015 66.86 67.10-0.36% NIFTY METAL 1,738 1,736 0.12% Copper(29FEB2016) 310 309 0.37% EURINR 29-DEC-2015 73.03 73.85-1.11% NIFTY CONSUMPTIO 3,492 3,509-0.49% Crude (18DEC2015) 2,385 2,519-5.32% JPYINR 29-DEC-2015 54.83 55.45-1.10% NIFTY AUTO 8,036 8,082-0.58% Gold (05FEB2016) 25,468 25,266 0.80% DJIA (18-DEC-2015) 17600 17455 0.83% NIFTY FMCG 19,791 19,942-0.76% Silver (4MAR2016) 34,400 33,593 2.40% S&P500 (18-DEC-2015) 2052 2034 0.86% Top Gainers Top Gainers Top Gainers Top Gainers BSE Smallcap BSE Midcap BSE 100 CNX Nifty Company LTP Chg % Chg Company LTP Chg % Chg BHARTIARTL 322 13 4.1 M&M 1221-68 -5 Top Losers ONGC 226 8 3.7 ASIANPAINT 865-14 -2 CAIRN 131 4 3.5 ITC 319.4-4 -1 POWERGRID 133 4 3.0 HINDALCO 78.35-1 -1 IDEA 135 4 2.7 PNB 120.9-1 -1 Company LTP Chg % Chg Company LTP Chg % Chg DLF 113 5 4.2 M&M 1219-70 -5.4 Top Losers JPASSOCIAT 11 0.4 4.1 TITAN 355-9 -2.4 ONGC 227 9 4.0 M&MFIN 238-5 -1.9 BHARTIARTL 320 12 3.8 UBL 902-14 -1.5 CAIRN 131 4 3.5 UNITDSPR 2989-37 -1.2 Company LTP Chg % Chg Company LTP Chg % Chg JPASSOCIAT 11 0.4 4.1 TITAN 355-9 -2.4 Top Losers JSWENERGY 79 3 3.4 KANSAINER 250-6 -2.3 RELINFRA 437 14 3.2 BRITANNIA 2814-58 -2.0 MRPL 65 2 2.8 INDHOTEL 108-2 -2.0 GSKCONS 6609 157 2.4 M&MFIN 238-5 -1.9 Company LTP Chg % Chg Company LTP Chg % Chg POLYMED 390 65 20.0 OJASASSET 33-4 -10.6 Top Losers PIPAVAVDOC 77 11 16.7 SHRENUJ 23-3 -9.9 PRAJIND 93 12 14.6 RCF 48-4 -8.0 BBL 787 77 10.9 RAINBOWPAP 37-2 -6.2 FCL 31 3 10.8 3IINFOTECH 4-0.2-5.3 CNX Nifty BSE 100 BSE Midcap BSE Smallcap Domestic Market View Markets to make a positive start in sync with other global markets The Indian markets extending their gains for the third day ended higher by over half a percent in last session. Today, the start is likely to be in green in sync with the gains in the other global markets, after the US Federal Reserve raised interest rates for the first time in almost a decade and Fed Chair Janet Yellen emphasizing that further tightening would be slow. Traders will also be getting some support with Finance Minister Arun Jaitley hinting at accepting Congress stand on scrapping of one per cent additional tax, and that Good and Services Tax rate could be much less than 18 per cent recommended by Arvind Subramanian panel. Meanwhile, pitching for an early take-off of the Goods and Services Tax, IMF managing director Christine Lagarde said it will help India create more jobs, increase revenue as well as promote domestic manufacturing. There will be some buzz in the coal, metals and mining stocks, as the government has approved allotment of coal blocks to public sector entities for commercial mining, taking the industry a step closer to complete deregulation and allowing private entry. Some somberness can be seen on the PSU oil marketing companies with the government raising excise duty on petrol by Rs 0.30 a litre and on diesel by a steep by Rs 1.17 a litre.
Domestic Market Overview Benchmarks extend winning streak for third straight session Extending their winning streak for third day in a row, Indian equity benchmarks ended the session with a gain of over half a percent on Wednesday. Sentiments remained up-beat with Finance Minister Arun Jaitley s statement that the government is willing to scrap the proposed 1% additional tax levy under the goods and services tax (GST) regime, but ruled out putting the new tax rate under GST in the Constitution amendment bill itself or setting up a dispute resolution panel. He also said it is almost certain that the final tax rate in GST will be below 18%. Some support also came in with Arun Jaitley s statement that the government will achieve its fiscal deficit target without any cuts in the government spending. Traders overlooked weak India s merchandise exports data, which shrank for a 12th straight month in November, falling an annual 24.43 percent. Indian exports during November, 2015 were valued at $ 20014.22 million in Dollar terms, over 24 percent lower than the level of $26485.71 million during November. There was broad based buying witnessed in the markets and apart from the blue chips, the broader markets too equally participated in the rally. Appreciation in Indian rupee too supported the sentiments. The partially convertible rupee was trading at 66.78 per dollar at the time of equity market closing against the Tuesday s close of 66.93 on the Interbank Foreign Exchange on the back of dollar-selling by custodian banks. Some support also came with report that the foreign portfolio investors (FPIs) bought shares worth a net Rs 48.67 crore yesterday as per provisional data released by the stock exchanges. Global Market Overview Asian markets close in green on Wednesday Asian equity markets ended in green on Wednesday, with sentiment helped by broad gains on Wall Street before an expected rise in U.S. interest rates later in the day. Hong Kong stocks rebounded and breaking a nine-session losing streak as energy shares surged. Chinese shares closed higher, with energy stocks gaining ground after China's top planning body, the National Development and Reform Commission, suspended a retail oil price cut that was scheduled for Wednesday and said it would adjust the current pricing mechanism in a bid to combat air pollution, and news that China plans to issue significantly more government bonds next year to aid the economy. US markets closed higher after Fed hikes interest-rate The US markets closed higher on Wednesday, extending gains to a third straight session after the Federal Reserve raised its key interest rate for the first time in nearly a decade and emphasized a gradual path for future rate hikes. The highly anticipated move was read as a vote of confidence in the US economy. The Federal Reserve raised interest rates for the first time since 2006, ending what Chairwoman Janet Yellen called an extraordinary period in which the bank sought to revive the economy in the aftermath of the Great Recession. Policy makers voted 10 to 0 to lift the Fed s shortterm borrowing rate by a quarter-point to a range of 0.25% to 0.5%. The Fed s short-term rate had kept near zero for seven years, marking an unprecedented era in the history of US monetary policy triggered by the worst financial crisis and economic downturn since the 1930s. Fed officials stated that an improved economy was ready for a rate hike, pointing to solid consumer spending, a rebounding housing market and stronger business fixed investment. The central bank also took careful note of a healthier labor market in which the unemployment rate has tumbled to 5% - just half as much compared to the early stages of a recovery that began in mid-2009. Yet the Fed used new language in its statement to soften the blow to the end of easy money, stressing repeatedly that the pace of interest-rate hikes would be gradual. Interest rates are expected to rise a bit slower, for example, in 2017 and 2018 than the Fed previously predicted. Fed Chairwoman Janet Yellen acknowledged that inflation has missed the Fed s target for three years, but implied that rates can be raised before reaching the target.
Index Futures (OI in '000 Shares) Future Chg Spot Chg Prem / Total Open Interest 16-Dec (%) 16-Dec (%) Disc 16-Dec Chg (%) NIFTY 7,758 0.63 7,751 0.65 7.3 21,249-2.6 CNXIT 11,171 0.65 11,145 0.78 26.3 15-1.2 BANKNIFTY 16,578 0.46 16,579 1.10-1.4 2,544-5.9 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 / 16-Dec % Chg. 16-Dec % Del. % Del. Del Qty (Rs.) (Rs.) Chg (%.) Chg (%.) Disc IGL 2,276 61% 1,694,565 32% 54% 1,520,546 500 503 6.9% 6.7% 2.4 MINDTREE 361 6% 76,441 42% 44% 12,146 1477 1479 0.8% 0.5% 2.0 VOLTAS 6,902 5% 1,685,480 41% 40% 393,798 307 302 1.7% 1.7% -4.8 SKSMICRO 7,412 4% 506,767 29% 28% 150,204 467 469 1.5% 1.3% 2 JSWENERGY 7,908 4% 579,380 20% 9% 389,939 79 79 3.5% 3.1% 0 IOC 12,338 3% 868,739 47% 62% 338,197 426 428 1.9% 2.1% 2.1 ACC 1,522 3% 169,788 60% 51% 54,855 1349 1340 1.0% 0.2% -8.8 SYNDIBANK 9,290 3% 444,002 29% 21% 210,513 85 85 0.2% 0.4% 0.4 CEATLTD 1,935 3% 124,755 19% 17% 64,761 1018 1023 0.5% 0.2% 4.8 IDEA 54,357 3% 2,629,225 51% 44% 270,437 135 134 2.3% 2.5% -0.9 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 / 16-Dec % Chg. 16-Dec % Del. % Del. Del Qty (Rs.) (Rs.) Chg (%.) Chg (%.) Disc M&M 3,662 11% 969,017 29% 45% 613,743 1218 1219-5.2% -5.6% 1.4 WIPRO 7,048 7% 1,560,755 61% 64% 673,899 555 557-0.6% -0.6% 2.4 CESC 2,771 6% 888,343 47% 27% 688,147 502 503-3.0% -3.5% 0.9 PNB 30,464 4% 2,907,806 41% 37% 928,916 121 121-0.4% -0.5% 0.5 BAJFINANCE 190 3% 31,109 50% 42% 9,996 5608 5620-0.3% -0.1% 11.7 COLPAL 1,841 3% 241,241 59% 54% 43,218 993 995-0.8% -0.9% 1.8 BRITANNIA 1,406 2% 81,434 43% 39% 13,046 2814 2827-2.3% -2.0% 13.4 CASTROLIND 1,989 2% 43,593 38% 30% 3,731 428 430-0.8% -0.8% 2.1 BATAINDIA 4,852 1% 248,338 52% 41% 49,766 479 463-0.8% -1.1% -16.1 M&MFIN 11,174 1% 348,943 46% 30% 171,386 238 238-1.8% -1.9% -0.4 Open Interest Break-up (Rs. in Cr.) 16-Dec 15-Dec Change in OI % Chg INDEX FUTURES 20,795 21,338-543 -2.54 INDEX OPTIONS 138,221 133,615 4,606 3.45 TOTAL INDEX 159,015 154,953 4,063 2.62 STOCK FUTURES 64,471 64,466 6 0.01 STOCK OPTIONS 18,610 18,224 386 2.12 TOTAL STOCKS 83,081 82,689 392 0.47 GRAND TOTAL 242,096 237,642 4,455 1.87 FII's 149,483 147,250 2233 1.52 Others 92,613 90,392 2221 2.46
Corporate News DFM Foods brownfield expansion of capacity has been completed and commissioned at its Greater Noida facility. With this expansion, the total capacity of the company has increased from 20308 MT per annum to 25308 MT per annum. LIC Housing Finance will acquire 19.3 percent stake in LIC Nomura Mutual Fund Asset Management Company for Rs 27 crore. Besides, the company will also buy stake of a similar percentage in LIC Nomura Fund Trustee Company for about Rs 1.5 lakh. Both the proposals were approved at its board meeting held on December 15, 2015. Mangalore Refinery and Petrochemicals (MRPL) has renewed its agreement with Link Intime India (SEBI Registered RTA) for 3 years with the effect from January 01, 2016 to December 31, 2018. Link Intime is the existing R&T Agent of the Company since January, 2010. Gayatri Projects in Joint Venture with Vishwa Infrastructures and Services has bagged a new order worth Rs 143.42 crore from Government of Mizoram. The project involves the construction and completion of water distribution & feeder mains by providing and laying DI pipes of 185 Km and GI pipes of 71 Km as well as some road restoration. The project is being financed by the Asian Development Bank (ADB) and shall be completed in 48 months. The resulting infrastructure will supply water to the city of Aizwal, the capital of Mizoram. Ketul Chem has bought 5.10 lakh shares of Fervent Synergies through the open market route. The shares were purchased on an average price of Rs 123.08 valuing the transaction to Rs 1.14 crore. Innovative Tech Pack has inaugurated its new manufacturing facility at Rudrapur, Udham Singh Nagar in the State of Uttrakhand at a built up area of approximately 18000 square Ft with an investment of around Rs 10 crore. The New Manufacturing Facility addressed at Plot No. 32, Sector-4, Industrial Area IIE-Pantnagar, District-Udham Singh Nagar in the State of Uttrakhand. NTPC has got Ministry of Environment and Forests (MOEF) nod for its power project in Telangana, while the MOEF has deferred the company s another project in Andhra Pradesh. Tata Consultancy Services (TCS) has been selected by Deutsche Lufthansa AG, a leading global aviation group, to provide testing services and help improve the quality of services of their technology operations. Sonata Software, a global technology services and solutions company, has maintained its position in the Leadership zone in the recent Global Service Providers Ratings (GSPR) 2015 published by Zinnov, for Software Product Development in Enterprise and Consumer Software categories. According to the survey, the company was rated as an established and niche service provider overall. State-owned Indian Oil Corporation (IOC) has reduced Petrol prices by 50 paise per litre and Diesel prices by 46 paise per litre with effect from the midnight of December 15/ December 16, 2015. The price of petrol in Delhi will become Rs. 59.98 a litre, while diesel will be Rs. 46.09 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. Reliance Power s 3,960-MW Sasan ultra mega power project (UMPP) recorded the highest plant load factor - 98.2 percent - in November this year among private thermal power generation plants in the country. The power generation came in flat in November 2015 after a strong growth of 10.8 percent and 8.8 percent in September and October this year, respectively. Tata Steel, one of the world's top steel producers, has unveiled two new innovative products, offering a complete range of structural steel product to its vast customer base. A high strength variant of steel hollow sections called Tata Structura 355, which has enhanced yield strength and an additional variant with fire-resistance properties. Tata Structura hollow sections are best known and preferred for their cost effectiveness, concentric strength, resistance to corrosion, convenience of fabrication and creativity. Architects and engineers prefer these structural tubes over others because of these strengths.
In a bid to enhance its business, Insecticides (India) is focusing on R&D and discovery of new products (molecules). The company has also entered the export market this year. The company had a 7 percent share in the insecticides market in the country, estimated at Rs 15,000 crore. The company had two plants in Jammu & Kashmir and one apiece in Rajasthan and Gujarat, besides four R&D centres. Zen Technologies has been assessed and appraised at the highest maturity Level 5 of CMMI - DEV 1.3. The company would therefore be eligible to participate as IOP through eligible services which has recently been reinstated for discharge of offset obligation requiring CMMi Level 4 or above. Cambridge Technology Enterprises (CTE), an IT services leader focused on the convergence of big data and cloud, has launched Cambridge Innovations (CI), an investor and technology partner to early stage companies leveraging technologies in the area of cloud and big data for disruption. CI aims to tap into innovation globally, giving Investors of CTE the opportunity to invest and participate in the returns from U.S.-based start-ups and establishing a pipeline of future CTE clients. Cambridge Innovations will provide capital, people and technical knowledge to early stage entrepreneurs looking to reach the next level of growth with reduced technology risk. The firm will provide up to 25% of seed capital to launch, a two-year technology plan and the product team to help execute it. Heritage Foods is planning to set up Wind Power Project in Andhra Pradesh for captive consumption. The company s board will meet on December 17 to consider and approve the same. Fubon Bank (Hong Kong), a wholly owned subsidiary of Fubon Financial Holding, has selected the new generation Finacle Core Banking solution of Infosys Finacle, part of EdgeVerve Systems, the product subsidiary of Infosys. This transformation initiative will significantly improve the bank s operational efficiency, strengthen innovation capabilities and support rapid growth. Sharon Bio-Medicine has received the Establishment Inspection Report (EIR) from United States Food and Drug Administration (USFDA) conducted in August 2015 at its formulation manufacturing plant located at Central Hope Town, Sellaqui Industrial Estate, Dehradun. Steel Strips Wheels (SSWL) has bagged additional exports order for supply of unassembled steel wheels for supplies to Egypt market. The total order for year 2016 order is for 200,000 wheels worth $1.5 million. This order is to be executed from SSWL's Dappar facility. L&T s subsidiary - L&T Infrastructure Development Projects (L&T IDPL) has received the second tranche investment of Rs 1,000 crore from CPPIB. As part of the definitive agreement entered into by Larsen &Toubro (L&T) and Canada Pension Plan Investment Board (CPPIB) in June 2014, whereby CPPIB through its Singapore-based wholly owned subsidiary, had committed to make an investment of Rs 2,000 crore into L&T IDPL in two tranches. HDFC Bank has issued and allotted on a private placement basis Senior, Unsecured, Redeemable, Long Term, Non-Convertible Bonds in the nature of debentures amounting to Rs 2,975 crore (29,750 Bonds of face value Rs 10,00,000 each). Thomas Cook (India) has received an approval of Competition Commission of India (CCI) for acquisition of Kuoni Travel (India). The shareholders approval had earlier been obtained by way of a postal ballot on September 21, 2015. The company had earlier on August 08, 2015, announced acquisition of Kuoni group s business in India and Hong Kong for Rs 535 crore. Mahindra Holidays & Resorts India s step down subsidiary - Holiday Club Sweden AB, consequent upon subscribing to 51% stake in Visionsbolaget 10088 AB, Visionsbolaget has become the subsidiary of Holiday Club Sweden AB and in turn step down subsidiary of the company. Further, Visionsbolaget is in the process of changing its name to Holiday Club Sport and Spa Hotels AB.
.Economy National policy suggests use of IPR as collateral to raise funds- India s first Intellectual Property Rights (IPR) policy has proposed securitization of innovation rights by allowing them to be used as collateral to raise funds for their commercial development. The national IPR policy, drafted by the Department of Industrial Policy & Promotion (DIPP) is likely to be taken up for cabinet approval soon. Securitization is a process by which various assets are consolidated into an instrument that can be issued to investors. Intellectual property could be in the form of patents, trademarks and copyrights. The policy proposed a slogan, 'Creative India, Innovative India,' for an across-media campaign and linking it with other initiatives such as Make in India, Start Up India and Skill India. A key objective of the policy is 'to create public awareness about the economic, social and cultural benefits of IPRs.' The policy suggested financial support for developing intellectual property assets through banks, venture capital and angel funds and crowd funding mechanisms. Moreover, it suggested setting up of an IP exchange to bring investors and IP owners on one platform. The government will extend financial support and easy loans to farmers, weavers and artisans through rural and cooperative banks under the proposed policy. The DIPP will assist IPR owners in getting on to ecommerce platforms and also create brand equity for their products. Govt to face shortfall of Rs 30,000-40,000 crore in direct tax collection in FY16: Hasmukh Adhia The government is likely face a shortfall of Rs 30,000-40,000 crore in direct tax collection of the Budget Estimate for the current fiscal. Though it is confident of meeting the fiscal deficit target of 3.9 percent of gross domestic product, without cutting expenditure on the back of robust indirect tax collections. Revenue Secretary Hasmukh Adhia said We are optimistic Advance tax numbers are expected in December There could be a marginal shortfall in direct taxes to the tune of Rs 30,000-40,000 crore.' The latest estimates are lower than the revenue department's earlier fears of Rs 50,000 crore shortfall, expressed in October. Adhia further said that in the first eight months of the current financial year, Direct tax collection posted a 12.63 per cent growth cent to Rs 3.69 lakh crore. This is 46.26 per cent of the budgeted target of Rs 7.97 lakh crore. However, the indirect tax collection between April- November have been robust with a growth of 34.3 per cent to Rs 4.38 lakh crore. Adhia said that he is positive that the government will not only meet the indirect tax collection target, even will exceed it and make good the shortfall in direct taxes as well. India's exports fall 24% in November Contracting for the twelve month in a row, India s exports plunged 24 percent in November to $20 million. The significant fall in exports is attributed to weak global demand, amid a tepid global economic recovery. On the positive side, imports too declined by over 30 per cent to $29.7 billion from $42.7 billion a year ago, led by low crude oil prices and subdued imports of gold, coal and fertilizers. This has helped shrank the trade deficit to $9.78 billion in November as compared with $16.2 billion in November 2014. The trade deficit for April-November, 2015-16 was estimated at $87543.75 million which was lower than the deficit of $102506.23 million during April-November, 2014-15. As per the data released by the Commerce Ministry, Exports during November, 2015 were valued at $ 20014.22 million in Dollar terms, 24.43 per cent lower than the level of $26485.71 million during November, 2014. In Rupee terms the exports stood at Rs. 132328.24 crore for the month against Rs. 163427.94 crore in the same month last year, showing a decline of 19.03 per cent. Cumulative value of exports for the period April- November 2015-16 was $174306.46 million as against $213774.45 million, registering a negative growth of 18.46 per cent in Dollar terms and stood at Rs 1124831.81 crore in Rupee term down by 13.07 per cent of Rs 1293967.32 crore in the same period last year. Meanwhile, Imports during November, 2015 were valued at $29795.91 million in dollar terms, 30.26 per cent lower over the level of imports valued at $42722.49 million in November, 2014. In rupee terms imports were valued at Rs 197001.90 crore, which was
25.27 per cent lower than Rs 263615.72 crore in the same period last year. Cumulative value of imports for the period April- November 2015-16 in Dollar terms was $261850.21 million, as against $316280.68 million, registering a negative growth of 17.21 per cent in Dollar terms. In rupee terms the imports for the period April-November 2015-16 stood at Rs 1689681.20 crore, down by 11.77 per cent as compared to Rs 1915128.52 crore in the same period last year. Likely US Fed rate hike pose risks to some emerging markets: Moody s Moody's Investors Service in its latest report titled Sovereigns -- Global: Likely Fed Rate Hike Reflects Strength of US Recovery, But Exposes Some EM Sovereigns to Volatile Capital Flows, has projected the US Federal Reserve to hike rates by 0.25 percent and has said that the likely interest rate hike by the US Federal Reserve this week could pose risks to some emerging markets. It said that lower global commodity prices and possible volatility in capital flows will pose challenges to some emerging markets, however a combination of reserve buffers and policy vigilance has the capacity to limit the negative sovereign credit impact. But added that the sovereigns having little policy room to protect growth and buffer themselves from external shocks are likely to be affected the most. Moody s said that the most affected large emerging markets and those most at risk going forward have tended to be those such as Brazil, Russia, Turkey and to some extent South Africa, where severe domestic challenges have contributed to exchange rate and financial market instability, and where policy room to buffer external shocks and protect growth is less robust. For the second time in row, PSU oil marketing companies (OMCs) have slashed price of petrol and diesel by 50 paise per litre and 46 paise per litre respectively. The new rates announced by the oil marketing companies (OMCs) are effective from December 15, 2015. Following the change, petrol will cost Rs 59.98 per litre in Delhi as against Rs 60.48 per litre, while diesel will cost Rs 46.09 as compared to Rs 46.55 now. At the last revision on December 01, OMCs had slashed price of petrol and diesel by 58 paise per litre and 25 paise per litre respectively. The net impact of the crude oil prices and Rupee depreciation have warranted a reduction of at least Rs 2 per litre but the reduction is much lower than an anticipated decrease as oil companies left cushion for the government to mop up gains accruing from global oil prices dipping to multi-year lows and also the government may like to raise excise duty on the two fuels to mop up its revenues as it has done five times in last one year. Source: Reuters, Ace Equity & LKP Research
Tech View CNX Nifty Technical View NA IMPORTANT LEVELS FOR THE DAY Support BSE NSE BANKNIFTY S1 25,356 7710 16357 S2 25,203 7664 16146 Resistance R1 25,604 7785 16699 R2 25,757 7832 16910 Pivot 25,480 7,748 16,528
Tech View PIVOT POINTS Scrip Name CMP RB2 RB1 PP SB1 SB2 Scrip Name CMP RB2 RB1 PP SB1 SB2 ACC 1349 1371 1358 1347 1337 1324 GAIL 344 375 360 348 335 320 ADANIENT 78 81 79 78 77 75 GLENMARK 868 892 881 871 862 850 ADANIPORTS 252 259 255 252 248 244 GMRINFRA 15 16 15 15 15 14 ADANIPOWER 27 28 27 27 27 26 GODREJIND 363 371 367 363 359 355 ALBK 68 71 69 68 67 66 GRASIM 3725 3772 3740 3714 3688 3657 AMBUJACEM 194 197 195 194 192 190 HAVELLS 301 313 307 302 298 292 ANDHRABANK 62 64 63 63 62 61 HCLTECH 847 873 860 850 839 826 APOLLOHOSP 1378 1429 1405 1385 1366 1341 HDFC 1219 1236 1226 1217 1209 1198 APOLLOTYRE 150 154 152 151 149 147 HDFCBANK 1067 1086 1075 1067 1058 1047 ARVIND 307 318 311 306 300 294 HDIL 64 68 66 64 63 61 ASHOKLEY 88 91 89 88 87 85 HEROMOTOCO 2595 2656 2622 2594 2566 2531 ASIANPAINT 867 904 885 870 854 836 HEXAWARE 237 243 240 238 236 233 AUROPHARMA 821 839 830 822 815 805 HINDALCO 79 82 80 79 78 76 AXISBANK 438 449 443 438 433 427 HINDPETRO 829 859 843 830 817 801 BAJAJ-AUTO 2453 2496 2470 2449 2428 2402 HINDUNILVR 855 881 869 859 849 837 BANKBARODA 160 166 162 160 157 153 HINDZINC 148 155 150 147 143 139 BANKINDIA 116 120 118 117 115 113 IBREALEST 60 64 62 60 59 56 BATAINDIA 479 500 490 481 473 462 ICICIBANK 252 263 256 250 244 236 BHARATFORG 841 871 852 837 821 802 IDBI 82 85 84 83 82 80 BHARTIARTL 320 334 325 317 310 300 IDEA 135 140 137 134 132 129 BHEL 168 172 170 169 167 165 IDFC 46 49 47 46 45 44 BIOCON 470 481 476 472 468 464 IFCI 25 26 26 25 25 24 BPCL 904 930 917 907 896 883 IGL 500 538 514 494 475 451 CAIRN 131 138 134 131 128 123 INDIACEM 84 88 86 85 84 82 CANBK 240 246 243 241 239 236 INDUSINDBK 933 962 945 931 917 900 CENTURYTEX 563 590 572 558 543 525 INFY 1096 1113 1101 1092 1083 1072 CESC 502 543 522 506 489 469 IOB 31 31 31 31 30 30 CIPLA 639 649 644 640 636 630 IOC 426 441 433 426 420 411 COALINDIA 317 326 321 316 311 306 IRB 242 270 256 244 233 219 COLPAL 993 1026 1010 997 984 967 ITC 319 330 325 321 317 312 CROMPGREAV 186 191 189 187 185 183 JINDALSTEL 90 94 92 91 89 87 DABUR 270 280 274 270 265 259 JISLJALEQS 62 64 63 62 62 61 DISHTV 94 98 95 93 91 89 JPASSOCIAT 11 12 12 11 10 10 DIVISLAB 1116 1155 1137 1122 1107 1089 JPPOWER 7 7 7 7 6 6 DLF 113 120 116 112 109 104 JSWENERGY 79 85 81 79 76 72 DRREDDY 3005 3078 3043 3015 2987 2952 JSWSTEEL 1009 1054 1031 1012 993 970 EXIDEIND 144 148 145 143 141 139 JUBLFOOD 1431 1493 1461 1436 1411 1380 FEDERALBNK 54 56 55 54 53 52 JUSTDIAL 900 969 934 906 878 843
Tech View Scrip Name CMP RB2 RB1 PP SB1 SB2 Scrip Name CMP RB2 RB1 PP SB1 SB2 KOTAKBANK 695 710 700 692 684 674 TATACHEM 396 406 401 396 392 387 KTKBANK 120 123 121 120 118 116 TATACOMM 409 418 413 409 405 401 L&TFH 65 66 65 65 64 64 TATAGLOBAL 137 143 139 137 134 130 LICHSGFIN 479 492 484 477 471 463 TATAMOTORS 380 396 387 379 372 363 LT 1281 1317 1300 1285 1271 1254 TATAMTRDVR 280 288 284 281 277 273 LUPIN 1829 1876 1845 1819 1794 1763 TATAPOWER 62 64 63 62 61 60 M&M 1218 1292 1256 1227 1198 1163 TATASTEEL 245 254 249 245 241 236 M&MFIN 238 250 244 240 236 230 TCS 2408 2444 2421 2402 2383 2360 MARUTI 4619 4700 4660 4627 4594 4553 TECHM 523 540 532 525 518 510 MCDOWELL-N 2991 3113 3056 3010 2964 2908 TITAN 355 377 366 358 350 339 MCLEODRUSS 173 180 177 174 171 167 UBL 902 938 920 906 892 875 MRF 38733 39704 39236 38857 38479 38011 UCOBANK 43 44 44 43 43 42 NHPC 19 20 19 19 19 18 ULTRACEMCO 2848 2947 2896 2855 2814 2762 NMDC 89 92 90 89 88 87 UNIONBANK 147 152 149 147 145 143 NTPC 134 138 135 133 132 129 UNITECH 6 7 7 6 6 6 OFSS 3793 3939 3858 3793 3728 3647 UPL 424 432 427 423 419 415 ONGC 227 238 230 224 218 210 VOLTAS 307 314 309 305 301 296 ORIENTBANK 134 141 137 135 132 129 WIPRO 555 564 559 555 551 546 PETRONET 241 251 246 242 238 233 YESBANK 699 724 711 701 691 679 PFC 207 216 212 208 205 201 ZEEL 409 416 412 409 406 403 PNB 121 125 123 121 120 117 POWERGRID 133 138 135 132 130 126 PTC 59 62 60 60 59 57 RCOM 82 86 84 82 80 77 RECLTD 217 225 221 217 214 209 RELCAPITAL 393 409 400 393 386 377 RELIANCE 979 999 989 980 971 960 RELINFRA 437 462 447 435 423 408 RPOWER 49 52 51 50 48 47 SAIL 45 47 46 45 45 44 SBIN 227 233 230 227 225 221 SIEMENS 1177 1201 1186 1174 1162 1147 SRTRANSFIN 795 823 807 794 781 765 SUNPHARMA 784 795 788 782 776 768 SUNTV 390 400 393 389 384 378 SYNDIBANK 85 87 86 85 84 83
DISCLAIMERS AND DISCLOSURES LKP Sec. ltd. (CIN-U67120MH1994PLC080039, www. Lkpsec.com) and its affiliates are a full-fledged, brokerage and financing group. LKP was established in 1992 and is one of India's leading brokerage and distribution house. LKP is a corporate trading member of Bombay Stock Exchange Limited (BSE), National Stock Exchange of India Limited(NSE), MCX Stock Exchange Limited (MCX-SX).LKP along with its subsidiaries offers the most comprehensive avenues for investments and is engaged in the businesses including stock broking (Institutional and retail), merchant banking, commodity broking, depository participant, insurance broking and services rendered in connection with distribution of primary market issues and financial products like mutual funds etc. LKP hereby declares that it has not defaulted with any stock exchange nor its activities were suspended by any stock exchange with whom it is registered in last five years. However, SEBI and Stock Exchanges have conducted the routine inspection and based on their observations have issued advice letters or levied minor penalty on LKP for certain operational deviations in ordinary/routine course of business. LKP has not been debarred from doing business by any Stock Exchange / SEBI or any other authorities; nor has its certificate of registration been cancelled by SEBI at any point of time. LKP offers research services to clients. The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report. Other disclosures by LKP and its Research Analyst under SEBI (Research Analyst) Regulations, 2014 with reference to the subject company(s) covered in this report-: Research Analyst or his/her relative s financial interest in the subject company. (NO) LKP or its associates may have financial interest in the subject company. LKP or its associates and Research Analyst or his/her relative s does not have any material conflict of interest in the subject company. The research Analyst or research entity (LKP) has not been engaged in market making activity for the subject company. LKP or its associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of Research Report. Research Analyst or his/her relatives have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of Research Report: (NO) LKP or its associates may have received any compensation including for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. LKP or its associates may have received compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. LKP or its associates may have received any compensation or other benefits from the Subject Company or third party in connection with the research report. Subject Company may have been client of LKP or its associates during twelve months preceding the date of distribution of the research report and LKP may have co-managed public offering of securities for the subject company in the past twelve months. Research Analyst has served as officer, director or employee of the subject company: (NO) LKP and/or its affiliates may seek investment banking or other business from the company or companies that are the subject of this material. Our salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies to our clients that reflect opinions that are contrary to the opinions expressed herein, and our proprietary trading and investing businesses may make investment decisions that may be inconsistent with the recommendations expressed herein. In reviewing these materials, you should be aware that any or all of the foregoing, among other things, may give rise to real or potential conflicts of interest including but not limited to those stated herein. Additionally, other important information regarding our relationships with the company or companies that are the subject of this material is provided herein. This report is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject LKP or its group companies to any registration or licensing requirement within such jurisdiction. Specifically, this document does not constitute an offer to or solicitation to any U.S. person for the purchase or sale of any financial instrument or as an official confirmation of any transaction to any U.S. person. Unless otherwise stated, this message should not be construed as official confirmation of any transaction. No part of this document may be distributed in Canada or used by private customers in United Kingdom. All trademarks, service marks and logos used in this report are trademarks or registered trademarks of LKP or its Group Companies. The information contained herein is not intended for publication or distribution or circulation in any manner whatsoever and any unauthorized reading, dissemination, distribution or copying of this communication is prohibited unless otherwise expressly authorized. Please ensure that you have read Risk Disclosure Document for Capital Market and Derivatives Segments as prescribed by Securities and Exchange Board of India before investing in Indian Securities Market. In so far as this report includes current or historic information, it is believed to be reliable, although its accuracy and completeness cannot be guaranteed. All material presented in this report, unless specifically indicated otherwise, is under copyright to LKP. None of the material, nor its content, nor any copy of it, may be altered in any way, transmitted to, copied or distributed to any other party, without the prior express written permission of LKP LKP Securites Ltd, 13th Floor, Raheja Center, Free Press Road, Nariman Point, Mumbai-400 021. Tel -91-22 - 66351234 Fax- 91-22-66351249. www.lkpsec.com