Morning Notes   LKP Advisory

Morning Notes
LKP Advisory
21 Oct-2014
Indices
17-Oct
16-Oct
% Chg.
Major Indices
17-Oct
16-Oct
% Chg.
FII's & DII's in equity
S&P BSE SENSEX
26,430
26,109
1.23%
CAC 40 Index
3,991
4,033
-1.04%
17-Oct
7,879
7,780
1.28%
DAX Index
8,718
8,850
-1.50%
9,376
9,272
1.12%
Dow Jones Industrial Ave 16,400
16,380
0.12%
10,363
10,314
0.48%
FTSE 100 Index
6,267
6,310
-0.68%
FII's contribution to the total turnover
50%
Nasdaq Composite Index
4,316
4,258
1.35%
DII's contribution to the total turnover
20%
S&P CNX NIFTY
S&P BSE MID CAP
S&P BSE SMALL CAP
Rs.Crs
Buy
Sell
FII' Investments
5287
4247
1040
Net
DII's Investments
1869
2035
-166
BSE Sectoral Indices
FII's in Derivatives
8,064
7,857
2.64%
Major Asian Indices
17-Oct
16-Oct
% Chg.
S&P BSE AUTO
17,388
17,019
2.17%
Hang Seng
23,070
23,023
0.20%
17-Oct
S&P BSE CAPITAL GOODS
14,548
14,244
2.14%
Nikkei 225
15,111
14,533
3.98%
Net
1455
-192
628
-45
S&P BSE OIL & GAS
10,747
10,542
1.94%
KOSPI Index
1,930
1,901
1.55%
OI
11866
70081
43391
2864
S&P BSE BANKEX
18,564
18,240
1.78%
SSE Composite Index (S
2,357
2,341
0.66%
Chg.OI
18.8%
0.5%
1.7%
5%
S&P BSE METAL
11,023
10,852
1.57%
Taiwan Weighted
8,663
8,513
1.77%
FIIs' contribution to the total Derivatives turnover
21%
1.46%
S&P BSE PSU
Rs.Crs
Index Fut Index Opt
Stock Fut Stock Opt
2,018
1,989
13,632
13,467
1.23%
Commodities (MCX)
17-Oct
16-Oct
% Chg.
17-Oct
16-Oct
S&P BSE CONSUMER DURA
9,395
9,281
1.23%
Aluminium (31OCT2014)
121
120
0.25%
USDINR 29-OCT-2014
61.46
61.59
-0.20%
S&P BSE REALTY
1,442
1,430
0.88%
Copper (28NOV2014)
407
409
-0.57%
EURINR 29-OCT-2014
78.54
78.94
-0.50%
S&P BSE FMCG
7,340
7,308
0.43%
5,079
5,095
-0.31%
JPYINR 29-OCT-2014
57.52
57.77
-0.44%
S&P BSE TECk
5,643
5,657
-0.26%
Gold (5DEC2014)
27,415
27,256
0.58%
FTSE100 (21-Nov-2014)
6360
6249
1.78%
10,047
10,131
-0.83%
Silver (5DEC2014)
38,533
38,399
0.35%
S&P500 (21-Nov-2014)
1889
1879
0.56%
S&P BSE POWER
S&P BSE HEALTHCARE
S&P BSE IT
Crude (20OCT2014)
Futures (NSE)
% Chg.
5.9
ONGC
417
20
5.0
HINDALCO
146
7
4.7
Company
LTP
Chg
% Chg
JINDALSTEL
137
-11
-7.4
WIPRO
555
-11
-1.9
INFY
3810
-41
-1.1
5
4.5
TCS
2426
-16
-0.6
694
27
4.1
ITC
352
-2
-0.6
Company
LTP
Chg
% Chg
Company
LTP
Chg
% Chg
2553
177
7.5
JINDALSTEL
135
-13
-8.6
527
36
7.3
EXIDEIND
159
-6
-3.6
2451
128
5.5
LICHSGFIN
323
-10
-2.9
RECLTD
273
14
5.5
WIPRO
556
-9
-1.7
ONGC
419
22
5.4
INFY
3812
-42
-1.1
Company
LTP
Chg
% Chg
Company
LTP
Chg
% Chg
TORNTPOWER
156
17
12.6
DEN
166
-15
-8.2
1608
154
10.6
SKSMICRO
313
26
8.9
HINDPETRO
527
36
7.3
TVSMOTOR
245
15
6.6
Company
LTP
Chg
% Chg
KIRLFER
BBTC
SHRGLTR
TBZ
54
6
12.4
249
25
11.4
24
2
10.5
163
15
10.2
46
4
9.9
Top Losers
SYMPHONY
BSE Midcap
ULTRACEMCO
GVKPIL
9
-1
-5.6
1270
-67
-5.0
IBREALEST
65
-3
-4.5
HMT
29
-1
-4.2
LTP
Chg
% Chg
PERSISTENT
Company
Top Losers
HINDPETRO
BSE 100
116
BPCL
Top Losers
DLF
KDJHRL
CNX Nifty
% Chg
137
BSE Smallcap
CNX Nifty
BSE 100
Top Gainers
Chg
UNITDSPR
BSE Midcap
Top Gainers
Top Gainers
LTP
2455
ULTRACEMCO
BSE Smallcap
Top Gainers
Company
Top Losers
AVTNPL
UNICHEMLAB
CTRNIND
INDINFO
GHCL
39
-7
-15.6
199
-23
-10.4
24
-3
-9.9
1
-0.1
-9.1
81
-6.9
-7.8
Domestic Market View Markets to get a positive start extending last session
gains
The Indian markets turned jubilant in last session on some
long pending policy decision by the government and victory
of the ruling party in state election. Today, the start is likely
to be in green, extending the gaining momentum, however
some consolidation too can be expected after the big gains.
There will be some support with Cabinet recommending
promulgation of an Ordinance to facilitate e-auction of coal
blocks for private companies for captive use and allot mines
directly to state and central PSUs. For private sector the
actual users of coal in the cement, steel and power sectors
who apply for a certain number of coal mines will be put in
the pool and there would be an e-auction, while central and
state public-sector entities will be allotted blocks on a
nomination basis. Also, there will be buzz in India Inc. as
the government has further extended the validity of
industrial licences to as much as seven years from three, to
encourage domestic manufacturing. The oil marketing
companies are likely to continue their upmove with
government deciding to cap the subsidy on domestic gas
cylinders. So far, there was a cap on the number of
subsidised cylinders alone, not on the subsidy.
Also there will be lots of important result announcements to
keep the markets buzzing. BASF, Biocon, Cairn India,
DHFL, Gujarat Alkali, HDFC Bank, JSW Steel, KPIT, South
Indian Bank, Tata Coffee, UPL Zee Learn will be reporting
their numbers today.
Domestic Market Overview
Markets witness fire-works at start of Diwali week; bulls cheer fuel reforms, poll verdict
Indian equity benchmarks started Diwali week with some fireworks, by rallying over a percentage point and
breaking lots of psychological levels in their northward rally. Sentiments remained positive since beginning of
the trade and there appeared not even an iota of profit booking in the session as the benchmarks traded
jubilantly throughout the session as investors continued hunt for fundamentally strong but oversold stocks.
The rally came mainly after ruling party's victory in two state assembly elections of Maharashtra and
Haryana, which will give Narendra Modi government a tremendous morale boost to pursue economic
reforms. Sentiments also remained up-beat on news that government raised the price of gas from domestic
fields to $5.6 per unit, around 33% higher from $4.2 at present. The new price would come into effect from
November 1 and would be revised every six months with a view to ensuring ‘stability in the market’. Some
strength also came in from IMF’s latest world economic outlook that, India is poised to become a two trillion
dollar economy this year, while its GDP size would cross another milestone of three trillion dollars after five
years in 2019.
There was broad based buying witnessed in the markets and apart from the blue chips, the broader markets
too equally participated in the rally. Frontline indices managed to settle above their crucial 26,400 (Sensex)
7,850 (Nifty) bastions. Recovery in Indian rupee too supported the sentiments. The rupee firmed up against
the US dollar and was trading at 61.31 at the time of equity markets closing as compared to Friday’s close of
61.44. Meanwhile, share related to oil and gas counter remained on buyers’ radar as the hike in gas prices
would help improve revenue and profit going forward while lowering the subsidy burden. Moreover, banking
shares gained on expectations of more reforms to push the economy on the growth track. Metal shares
rebounded on reports about Chinese central bank considering injecting more liquidity in the economy to
revive demand and arrest the deceleration in the Chinese growth.
Global Market Overview
Asian markets ended in green on Monday
Asian markets ended in green on Monday, with Chinese stocks trading in Hong Kong climbing the most in a
week amid speculation as the central government is accelerating measures to support economic growth.
This week is expected to be an important one for Chinese markets because the Communist Party gathers in
Beijing for an important planning meeting. China is also expected to release third quarter GDP data
scheduled on Tuesday and the Hong Kong and Shanghai stock exchanges are expected to launch a
program allowing investors from both sides to access each other’s stocks, opening up a crucial channel for
fresh capital flows.
US markets close higher on optimism over corporate earnings
The US markets closed higher on Monday, with equity investors beginning the week on positive note, as
optimism over corporate earnings spurred a rebound from last week’s selloff. That’s two straight positive
trading days for the Dow industrials and three for the S&P 500 and the Nasdaq. Monday’s positive
movement in the Dow industrial comes even as one of its major components, IBM, posted disappointing
quarterly results, pushing shares of the tech giant lower and dragging down the broader index. However,
Apple Inc. stated that its quarterly profit rose 13% as strong demand for its new larger-screen iPhones
helped to overcome sluggish iPad sales. Meanwhile, Dallas Fed President Richard Fisher stated that he will
support ending the central bank’s bond-buying program on schedule next week. Fisher added that he was
not troubled by last week’s market volatility and did not think inflation was trending lower. Fisher had
previously stated that he expected the Fed to start to raise rates in the spring of 2015, but on Monday he
declined to repeat that view, saying that the decision to raise rates should be based on developments in
economic data.
Dow Jones added 19.26 points or 0.12 percent to 16,399.67, Nasdaq was up by 57.63 points or 1.35 percent
to 4,316.07, while S&P 500 ended higher by 17.25 points or 0.91 percent to 1,904.01.
LKP Advisory Index Futures
Future
Chg
Spot
Chg
Prem /
17-Oct
(%)
17-Oct
(%)
Disc
NIFTY
7,897
1.03
7,879
1.28
17.9
CNXIT
10,705
-0.75
10,673
-0.68
BANKNIFTY
16,248
1.05
16,217
1.80
(OI in '000 Shares)
Total Open Interest
17-Oct
Chg (%)
18,060
5.3
31.6
51
5.8
31.2
2,021
6.7
Increasing OI, Increasing Delivery Qty & Increasing Price in Stock Futures (Open Interest in '000 Shares)
Symbol
Total OI
17-Oct % Chg.
% Del.
Prev
% Del.
Del Qty Cash Market
17-Oct
Increase
Del Qty
Spot
(Rs.)
Fut
(Rs.)
Spot
Chg (%.)
Fut
Chg (%.)
Prem /
Disc
AXISBANK
24,058
15%
2,777,395
38%
25%
1,430,150
418
419
4.0%
4.1%
1.6
UNIONBANK
11,648
11%
1,465,711
31%
20%
397,581
223
220
2.3%
1.2%
-3.0
6,822
9%
2,684,635
68%
33%
867,291
330
330
2.3%
2.4%
0.0
BPCL
3,964
8%
1,826,378
45%
32%
1,565,076
697
700
4.5%
4.6%
3.1
PETRONET
5,170
8%
748,705
56%
48%
313,822
196
194
4.0%
3.6%
-1.6
-0.5
ZEEL
PNB
4,777
8%
474,001
34%
28%
238,257
955
955
3.9%
4.1%
BANKBARODA
4,194
7%
540,692
34%
35%
33,791
874
877
0.2%
0.6%
3.1
FEDERALBNK
17,352
5%
4,372,186
52%
28%
1,944,467
139
139
2.1%
1.8%
0.5
HINDPETRO
9,415
4%
3,433,046
41%
30%
2,873,521
528
530
7.4%
7.3%
2.2
ICICIBANK
9,026
4%
1,605,973
60%
52%
115,239
1537
1533
2.1%
1.8%
-3.7
Increase in
Del Qty
Spot
(Rs.)
Fut
(Rs.)
Spot
Chg (%.)
Fut
Chg (%.)
Prem /
Disc
734,365
158
159
-3.7%
-3.6%
0.5
Increasing OI, Increasing Delivery Qty & Decreasing Price, (Open Interest in '000 Shares)
Symbol
EXIDEIND
CESC
JINDALSTEL
INFY
RELIANCE
Total OI
17-Oct % Chg.
10,244
16%
MCLEODRUSS
17-Oct
Prev
% Del.
29%
39%
1,735,300
1,240
11%
438,281
58%
40%
278,471
656
659
-2.3%
-2.3%
3.5
23,399
5%
4,357,644
16%
15%
3,541,819
136
136
-8.2%
-8.4%
0.5
16.5
3,947
3%
678,359
67%
61%
26,076
3812
3829
-1.0%
-1.1%
35,967
2%
2,982,060
54%
64%
541,937
935
939
-0.3%
-0.5%
3.5
50
2%
1,696
26%
19%
76
30240
30372
-0.3%
-0.2%
132.1
12,744
2%
1,200,369
35%
34%
328,070
324
325
-2.8%
-2.9%
1.3
2,672
2%
47,491
41%
30%
6,176
252
254
-0.8%
-0.8%
1.4
MRF
LICHSGFIN
% Del.
Del Qty Cash Market
Open Interest Break-up
(Rs. in Cr.)
17-Oct
16-Oct
Change in OI
% Chg
INDEX FUTURES
17,703
16,569
1,133
6.84
INDEX OPTIONS
123,563
123,831
-268
-0.22
TOTAL INDEX
141,266
140,401
865
0.62
STOCK FUTURES
55,468
54,189
1,280
2.36
STOCK OPTIONS
19,691
19,429
262
1.35
TOTAL STOCKS
75,159
73,618
1,541
2.09
GRAND TOTAL
216,425
214,019
2,406
1.12
FII's
128,202
125,089
3113
2.49
88,223
88,930
-707
-0.79
Others
LKP Advisory Corporate News
¾
YES BANK, India’s fourth largest private sector Bank, has successfully raised equivalent of $422 million ($288 million and 103.5 million euro)
by way of Dual Currency Multi-tenor Syndicated Loan Facility. The said Facility shall be utilized for general corporate purposes.
¾
Foreign institutional investors (FIIs) have raised their stake in Dr Reddy’s Laboratories by 312 basis points to 38.41 percent in Q2FY15 from
35.29 percent as on June 30, 2014. However, domestic institutional investors (DIIs) have reduced their shareholding in the company by 5
basis points to 5.38 percent at the end of September 2014 quarter from 5.43 percent as on June 30, 2014.
¾
Foreign institutional investors (FIIs) have reduced their stake in Bajaj Auto by 91 basis points to 17.69 percent in Q2FY15 from 18.60 percent
as on June 30, 2014. However, domestic institutional investors (DIIs) have increased shareholding in the company by 88 basis points to 7.96
percent at the end of September 2014 from 7.08 percent as on June 30, 2014.
¾
Praj Industries has completed the process of divesting its subsidiary BioCnergy Europa B.V., Netherlands. It had last month acquired a
further stake of 10% in its subsidiary Praj HiPurity Systems formerly known as Neela Systems for approximately Rs 20.40 crore.
¾
Welspun Corp is reportedly planning to set-up industrial pipes plant in Canada’s largest and richest province British Columbia. The
investment is likely to be upwards of $100 million for setting up a pipe plant supported by coating and double jointing facility primarily targeting
oil & gas transportation in the Canadian region.
¾
Hindustan Construction Company (HCC) has been awarded Rs 393.08 crore road project by the Ministry of Road Transport & Highway.
This Engineering Procurement and Construction (EPC) contract is for reconstruction of 65.87 km section of NH-233 on indo Nepal Border.
¾
As part of ongoing expansion and modernisation programme, Steel Authority of India (SAIL) has commissioned two facilities in its Bhilai
plant. The two units, a sinter machine and a coke oven battery, have been built with an investment of around Rs 2,000 crore.
¾
IL&FS Transportation Networks’ arm - MP Border Checkpost Development Company, which had been mandated the development of 24
Border Check Posts by the MP Road Development Corporation has been issued Provisional Completion Certificate to commercially operate 2
more check posts namely - Chindwara - Nagpur and Kabir - Chabutara Border Check Posts with effect from October 16, 2014 & October 17,
2014 respectively. The Project is fee based with a Concession period of 12 ½ years.
¾
Foreign institutional investors (FIIs) have reduced their stake in Maruti Suzuki by 30 basis points to 21.74 percent in Q2FY14 from 22.04
percent as on June 30, 2014. However, domestic institutional investors (DIIs) have increased shareholding in the company by 48 basis points
to 14.48 percent at the end of September 2014 quarter from 14 percent as on June 30, 2014.
¾
DCB Bank has raised around Rs 250 crore of Tier I Capital through a recently concluded Qualified Institutions Placement (QIP). The board of
directors of DCB Bank has approved the issue and allotment of 30,432,136 equity shares of face value Rs 10 each to eligible qualified
institutional buyers (QIBs) at the issue price of Rs 82.15 per equity share, aggregating to approximately Rs 250 crore.
¾
Foreign institutional investors (FIIs) have reduced their stake in Coal India by 15 basis points to 5.37 percent at the end of Q2FY15 from 5.52
percent as on June 30, 2014. However, domestic institutional investors (DIIs) have increased their shareholding in the company by 17 basis
points to 2.97 percent at the end of September 2014 from 2.80 percent as on June 30, 2014.
¾
Ambuja Cement has launched a premium quality cement product -- Ambuja Plus -- in the state of Maharashtra. This innovative product is
created with an advanced formula, offering additional strength than ordinary cement. At a grand launch held at Nagpur, the newly launched
product Ambuja Plus is aimed mainly at small consumers or Individual House Builders.
¾
Foreign institutional investors (FIIs) have raised their stake in ICICI Bank by 105 basis points to 41.10 percent at the end of September 2014
from 40.05 percent as on June 30, 2014. However, domestic institutional investors (DIIs) have reduced their stake shareholding in the bank by
95 basis points to 22.33 percent at the end of September 2014 from 23.28 percent as on June 30, 2014.
¾
Mahanagar Telephone Nigam (MTNL), the state owned telecom firm which operates in Delhi and Mumbai, will be receiving financial support
for its liability arising from levy of Minimum Alternate Tax (MAT). The Cabinet Committee on Economic Affairs (CCEA) has given its approval
for a proposal of the Department of Telecommunications (DoT) to provide financial support to the company.
LKP Advisory ¾
Coal India (CIL), the world’s largest coal miner by output, out of 172 FSAs has so far signed 162 fuel supply agreements (FSAs) with power
plants. The government had earlier directed the coal major to sign supply pacts with power projects of 78,000 mw capacity. The remaining fuel
supply pacts could not be signed as some of power producers are yet to achieve milestones like forest clearances.
Economy
¾
Govt slashes diesel rates by Rs 3.50/ litre; re-launches DBT scheme for cooking gas
In a major and much awaited reform, the government de-regulated retail prices of diesel, which will now reflect international movement in oil
prices. This development, which would bring an immediate respite of about Rs 3.50 per litre on diesel prices, marks the first reduction in diesel
rates in over five years. Diesel rates were last cut by Rs 2 a litre to Rs 30.86 in January 29, 2009.
Also, the government decided to re-launch the direct benefit transfer scheme for cooking gas and link with the new bank account opened
under Pradhan Mantri Jan Dhan Yojna and for those who lacked bank accounts could continue to enjoy the benefits of subsidized LPG
cylinders. The programme would be implemented 'in a mission mode' between November 10 and January 1, 2015.
Diesel reduction comes right after the state elections and also at a time when international crude prices have been running at four year low.
However, originally, petrol and diesel prices were deregulated in April 2002 when the NDA government was in power. But, administered
pricing regime made a silent entry towards the end of NDA regime in the first quarter of 2004 when crude prices started inching up. It was
back in January 2010, the previous government decided to raise diesel prices by up to 50 paisa a litre every month. Nevertheless, with the
over-recovery or the profit of diesel climbing to Rs 3.56 per litre, the centre decided to take the guards off.
¾
FDI declines 10% to $1.27 billion in August’2014
Foreign direct investment (FDI) in India declined by 10% to $1.27 billion in the month of August 2014 as compared to $1.40 billion in the same
month of previous year. However, FDI during the April-August FY15 jumped by 42% y-o-y to $12.01 billion from $8.46 billion recorded in the
corresponding period of the previous fiscal.
The sectors that received highest inflows during the first five months of current fiscal include telecommunications ($2.33 billion), services
($1.08 billion) pharmaceuticals ($903 million) and construction ($446 million). Country wise, maximum FDI during the reported period was
received form Mauritius with $3.93 billion followed by Singapore ($1.89 billion), Netherlands ($1.56 billion), Japan ($897 million), UK ($827
million) and the US ($394 million).
During FY14, FDI increased by 8% to $24.29 from $22.42 billion recorded in the FY13. India would require around $1 trillion in the 12th five
year plan (2012-2017) to overhaul its infrastructure sector such as ports, airports and highways to boost growth. However, to attract maximum
FDI into the country, the government has been liberalizing the foreign investment policy. Recently, the government has raised the foreign
investment limit to 49% in defence manufacturing and relaxed the FDI policy in railway and construction sector.
¾
India set to become $2 trillion economy in 2014: IMF
The International Monetary Fund (IMF), in its latest ‘world economic outlook’ report, has highlighted that India is poised to become a $2 trillion
economy this year, moreover Indian GDP size would cross another milestone of $3 trillion after five years in 2019.
The IMF noted that Indian GDP would increase from $1.88 trillion in 2013 to $2.05 trillion this year and $3.18 trillion in 2019, surpassing
Russia, Brazil and Italy. India's ranking would also improve to seventh largest economy in the world in 2019 from its tenth position currently.
Over the past two fiscal years, Indian economy had struggled with slowdown and its growth stayed below 5% for the second year in a row at
4.7% during FY14. The factors like high interest rate and stubborn inflation, low investments and slow execution of infrastructure projects have
impacted country’s economy growth. However, the economy has shown signs of nascent recovery during the first quarter of current fiscal.
India’s economy expanded at its fastest pace in more than two years by 5.7% during Q1FY15 as compared to 4.7% growth recorded in same
quarter last year. Recently, the IMF projected 5.6% economic growth for India in FY15, citing better exports and investment prospects under
the new Narendra Modi government.
LKP Advisory ¾
Govt increases natural gas price to $5.61 per mmBtu
The government has approved raising natural gas price to $5.61 per mmBtu. The new gas price will be implemented from November 1 and
will be revised every six months with the next revision being on April 1. However, Reliance Industries will continue to get current $4.2 per
mmBtu rate till it makes up for shortfall in output from KG-D6 block.
RIL will get the higher rates if it is legally able to prove that output fall was a result of geological reasons as it claims and it did not deliberately
cut production. As per the RIL agreement with government, natural gas output from D1&D3 gas fields in KG-D6 block should be 80 mmscmd,
but it is languishing at less than 8 mmscmd.
The Cabinet modified the Rangarajan formula approved by previous UPA government to bring down the increase in rates from $8.4 to $5.61
per mmBtu. Gas price increase had been deferred on three occasions previously. Higher gas prices would increase inflation in the country by
rising operating cost of fertilizer plants, running power stations and prices of food.
Source: Reuters, Ace Equity & LKP Research
LKP Advisory Tech View
CNX NIFTY
TECHNICAL VIEW
Nifty has closed above crucial 7800 level with relative ease supported by majority of sectors indicating that Index may continue to hold its
momentum. The market breadth was positive and the performance of midcap stocks was encouraging indicating that Nifty will continue to find
support at lower levels. However, the index continue to face strong resistance at 7900 level and once this level is crossed higher levels of 8000 can
be expected in Nifty.
IMPORTANT LEVELS FOR THE DAY
Support
BSE
NSE
BANKNIFTY
S1
26,492
7850
16137
S2
26,556
7813
16030
R1
26,389
7911
16310
R2
26,325
7948
16417
Pivot
26,440
7,881
16,224
Resistance
.
LKP Advisory PIVOT POINTS
Scrip Name
CMP
RB2
RB1
PP
SB1
SB2
ACC
1424
1461
1439
1421
1403
1381
ADANIENT
450
469
457
448
439
427
ADANIPORTS
259
269
263
258
253
247
GMRINFRA
22
23
22
22
21
20
ADANIPOWER
44
45
44
44
43
42
GODREJIND
285
295
289
285
281
275
ALBK
106
108
107
106
105
103
GRASIM
3317
3445
3385
3336
3287
3227
AMBUJACEM
213
218
214
212
209
206
HAVELLS
274
282
277
273
269
264
ANDHRABANK
75
78
76
75
73
71
HCLTECH
1496
1580
1538
1504
1470
1428
APOLLOHOSP
1039
1072
1054
1038
1023
1005
HDFC
1020
1057
1037
1021
1004
984
APOLLOTYRE
208
217
213
209
206
201
HDFCBANK
894
925
910
898
886
871
ARVIND
284
295
288
282
276
268
HDIL
76
83
80
77
74
71
ASHOKLEY
44
47
46
45
44
43
2938
3067
2977
2904
2831
2740
ASIANPAINT
648
666
657
650
643
634
HEXAWARE
179
188
182
177
171
165
AUROPHARMA
934
966
945
928
910
889
HINDALCO
147
153
149
145
142
138
AXISBANK
418
429
422
416
410
403
HINDPETRO
528
552
538
526
515
501
BAJAJ-AUTO
Scrip Name
CMP
RB2
RB1
PP
SB1
SB2
GAIL
459
474
466
459
452
444
GLENMARK
707
734
721
710
699
685
HEROMOTOCO
2413
2471
2435
2407
2379
2343
HINDUNILVR
737
750
742
735
728
719
BANKBARODA
874
916
895
878
861
840
HINDZINC
164
173
168
164
160
155
BANKINDIA
261
275
267
261
254
246
IBREALEST
65
74
69
66
63
58
BATAINDIA
1214
1267
1240
1219
1197
1171
ICICIBANK
1537
1569
1551
1537
1523
1505
BHARATFORG
764
791
778
767
757
744
IDBI
64
66
64
63
63
61
BHARTIARTL
402
408
404
401
398
394
IDEA
161
169
164
160
155
150
BHEL
228
241
234
228
223
216
IDFC
140
146
143
140
137
134
BIOCON
475
487
481
475
470
463
IFCI
34
35
35
34
33
33
BPCL
697
736
716
700
684
664
IGL
424
451
436
424
413
398
CAIRN
277
285
281
278
275
271
INDIACEM
107
113
110
107
105
102
CANBK
387
405
396
389
382
374
INDUSINDBK
667
684
675
669
662
653
CENTURYTEX
520
536
528
521
514
506
INFY
3812
3909
3863
3826
3788
3742
CESC
656
707
683
664
644
620
IOB
60
62
61
60
59
58
CIPLA
604
620
612
605
598
589
IOC
380
407
394
383
373
360
COALINDIA
361
379
368
360
352
341
IRB
235
241
237
235
232
229
1698
1741
1720
1704
1687
1666
ITC
352
363
358
354
349
344
CROMPGREAV
189
202
196
191
186
179
JINDALSTEL
136
156
144
135
126
115
DABUR
206
212
209
207
205
202
JISLJALEQS
82
85
83
81
80
78
DISHTV
55
56
56
55
55
55
JPASSOCIAT
30
32
31
30
29
28
1743
1789
1757
1732
1706
1674
JPPOWER
12
13
12
12
12
11
115
125
118
113
108
102
JSWENERGY
72
75
73
72
71
69
DRREDDY
2966
3032
2995
2965
2935
2898
JSWSTEEL
1146
1196
1166
1141
1117
1086
EXIDEIND
158
177
168
161
154
145
JUBLFOOD
1206
1254
1228
1208
1187
1161
FEDERALBNK
139
143
141
139
137
135
JUSTDIAL
1687
1754
1710
1675
1640
1596
COLPAL
DIVISLAB
DLF
LKP Advisory PIVOT POINTS
Scrip Name
CMP
RB2
RB1
PP
SB1
SB2
Scrip Name
CMP
RB2
RB1
PP
SB1
SB2
KOTAKBANK
1004
1056
1032
1013
993
969
TATACHEM
389
405
397
391
385
377
115
120
117
115
113
111
TATACOMM
375
385
379
373
368
362
65
67
66
66
65
64
TATAGLOBAL
155
158
156
155
153
151
324
354
340
328
317
302
TATAMOTORS
495
509
500
492
484
475
LT
1495
1527
1508
1492
1476
1456
TATAMTRDVR
315
332
324
316
309
301
LUPIN
1387
1439
1404
1375
1347
1312
TATAPOWER
87
89
88
87
86
84
M&M
KTKBANK
L&TFH
LICHSGFIN
1261
1308
1283
1263
1243
1219
M&MFIN
281
288
284
281
277
273
MARUTI
3004
3050
3022
2999
2976
MCDOWELL-N
2556
2842
2655
2503
MCLEODRUSS
252
265
259
30240
31539
30929
MRF
450
466
458
451
444
436
TCS
TATASTEEL
2423
2549
2492
2445
2398
2340
2948
TECHM
2296
2384
2332
2289
2246
2194
2351
2163
TITAN
383
393
388
383
379
374
254
249
242
UBL
681
731
704
683
661
634
30436
29943
29333
79
84
82
80
78
76
2450
2522
2472
2432
2392
2342
223
230
226
223
220
215
18
19
18
18
17
17
UPL
331
342
335
329
324
317
UCOBANK
NHPC
19
20
19
19
19
19
NMDC
160
167
163
161
158
154
UNIONBANK
NTPC
144
149
146
143
141
138
UNITECH
OFSS
3212
3282
3244
3214
3184
3147
ONGC
419
440
430
421
412
402
VOLTAS
232
245
238
233
227
220
ORIENTBANK
256
264
259
255
251
246
WIPRO
556
591
575
562
548
532
PETRONET
196
206
199
195
190
183
YESBANK
614
629
620
613
605
596
PFC
262
274
266
259
253
245
ZEEL
330
347
336
328
319
309
PNB
955
989
967
948
930
907
POWERGRID
135
139
137
135
133
131
85
90
87
85
83
80
RANBAXY
594
615
605
596
588
578
RCOM
100
104
102
100
99
96
PTC
RECLTD
274
292
280
271
262
250
RELCAPITAL
449
479
465
453
442
427
RELIANCE
935
969
947
929
911
889
RELINFRA
562
588
574
563
551
537
RPOWER
70
72
71
70
69
68
SAIL
78
82
79
78
76
74
SBIN
2569
2629
2597
2572
2547
2515
SIEMENS
825
851
833
819
805
788
SRTRANSFIN
925
976
947
924
900
871
SSLT
238
249
242
237
232
225
SUNPHARMA
802
828
815
805
794
782
SUNTV
310
326
316
308
300
290
SYNDIBANK
116
121
118
116
113
111
LKP Advisory ULTRACEMCO
The information in this documents has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true and is for general guidance only. While every effort is made to ensure the accuracy and completeness of information contained, the company makes no guarantee and assumes no liability for any errors or omissions of the information. No one can use the information as the basis for any claim, demand or cause of action. LKP Securities Ltd., and affiliates, including the analyst who have issued this report, may, on the date of this report, and from time to time, have long or short positions in, and buy or sell the securities of the companies mentioned herein or engage in any other transaction involving such securities and earn brokerage or compensation or act as advisor or have other potential conflict of interest with respect to companies mentioned herein or inconsistent with any recommendation and related information and opinions. LKP Securities Ltd., and affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past. LKP Securities Ltd. Ph: (91‐22) 66351234 FAX: (91‐22) 66351249 E Mail: lkpadvisory@lkpsec.com web: http://www.lkpsec.com LKP Advisory