MARKET Diary

Value % Change

SGX NIFTY 9,539.50 0.24%

19791.62 -0.65%

HANG SENG 25,327.01 -0.04%

Sensex 30,582.60 0.86%

Nifty 9,512.00 0.71%

DOW 20,979.45 -0.01%

Event Today NASDAQ 6,169.21 0.33%

Result CAC 5,406.10 -0.21%

ALBK , BAJAJFINSV DAX 12,804.53 -0.02%

BAJFINANCE , COSMOFILMS FTSE 7,114.55 -0.06%

EDELWEISS , HINDUNILVR EW ALL SHARE 17,579.62 0.56%

IFBAGRO , JKLAKSHMI

JSWSTEEL , MRPL , NIITLTD

RATNAMANI , RUBYMILLS Value % Change

SNOWMAN , TAJGVK 28094.00 0.36%

UBL , UFO , VINYLINDIA 38744.00 0.63%

Concall 51.19 -0.23%

Tube Inv : 11:00 AM 206.30 -4.05%

Care Rating : 11:30 AM 64.07 0.02%

Quess Corp Limite : 3:00 PM 70.87 0.84%

PI Inds : 3:00 PM 82.57 -0.32%

NIIT : 3:30 PM

Dishman : 4:00 PM

Bajaj Fin : 4:00 PM

AYM Syntex: 4:30 PM Investor Buy(Cr.) Sale(Cr.) Net(Cr.)

Andhra Bk: 4:30 PM 16-May-17 5578 4720 858

Dilip Buildcon : 5:00 PM May-17 76435 77484 (1049)

JSW Steel : 5:30 PM 2017 76435 77484 (1049)

HUL : 6:00 PM

Interim Dividend

GILLETTE : Rs 154/- Investor Buy(Cr.) Sale(Cr.) Net(Cr.)

( Exdate : 17.5.2017) 16-May-17 2645 3047 (402)

Special Dividend May-17 49775 45264 4511

PGHH : Rs 362/- 2017 49775 45264 4511

( Exdate : 17.5.2017)

Stock Split

( Exdate : 17.5.2017)

MANCREDIT ( From Rs.10/-

to Rs.1/-)

Quote of the Day : "As investors, we are only the limited product of our own experiences and therefore

vulnerable unless we read and assimilate the accumulated wisdom of the great ones. And Financial history

definitely tends to repeat itself. " Barton Biggs

17-May-17

After opening on a positive note, Nifty continuously

rose to make an intraday high of 9517.10

yesterday. At the end of the day the index closed at

9512.25. It had a net gain of 0.68 percent over the

previous trading day’s close. The midcap and small

cap indices also moved in line with the benchmark

index and closed the day after gaining 0.5%-0.7%.

On the sectoral front, PSU Banking, Auto, FMCG

and Information Technology stocks were on the

buyers’ radar. Metal, Media and Pharmaceuticals

indices have shown some weakness. The breadth of

the market was slightly positive with more

advances than declines.

Running on rising volume since day before, Nifty

broke past its flag pattern (that pattern is now

invalid) resistance line. Momentum took it even to

derivative resistance point of 9500. If Nifty remains

above 9500 and 9500 CE sees sharp unwinding i.e

current outstanding open interest of 57.4 lakhs at

9500 CE falls below 30.0 lakhs, than the range for

Nifty will see upward revision. If this does not

happen then profit booking could be expected from

current levels. Current leg of the rally could be

attributed to the fact that trading sentiment remain

highly negative (Bearish sentiment reading of 81 at

investing.com). High straddle combined open

interest at 9400 couple of days back gives target

resistance to Nifty at 9538. Equity investment by

Indian household continue to grow. AUM of equity

MF has risen for the fifth straight month to touch a

new high of INR5 trillion. Best part of the current

inflow to mutual funds is that inflow increases

when market declines.

DOLLAR/RS.

EURO/RS.

Commodity/Currencies

SILVER

Market

NIKKIE

FII

DII

Morning Traded Market

Nifty Intraday Chart Market

Institutional Turnover

Yesterday Closing Market

POUND/RS.

Market Outlook

CRUDEOIL

Commodity Price ( Yesterday Closing )

GOLD

NATURALGAS

% Change in 1 day

% Change in 1 day

KEY LEVELS

Support 1 : 9428

Support 2 : 9373

Resistance 1: 9538

Narnolia Securities Ltd

IEA Snapshot

"BUY"

Top News

17th May 2017HCLTECH

We maintain our positive stance on private banks as they will continue to acquire market share from public banks thus loan growth will

remain healthy going forward. Private Banks have comparatively much less stress assets against public banks. Healthy capitalization ratio

also helps to increase the business going forward. However for many banks valuation has run ahead of their fundamentals. But decline in

prices will give an opportunity. Our top picks are HDFC Bank, Federal Bank, Yes Bank and Axis Bank. Apart from this under public sector

banks Indian bank and Vijaya bank were our top picks based on retail business focus, adequate capital, relatively low stress assets and

higher recovery than slippages. First we recommended Indian Bank at Rs 100 and got neutral near Rs 330 and recommended Vijaya Bank

at Rs 48 and now we have changed our rating to neutral for Vijaya Bank at Rs 98. Both Indian Bank and Vijaya Bank are trading at P/B of 1.0

and do not leave much on table in context of current fundamental. At this point, we recommend Buy only on SBI among PSU Banks as it has

relatively better quality of book and capital ratio than its peers. Merger will be key monitorable for the bank

BANKS

*For details, refer to our daily report- India Equity Analytics

After studying Wipro's (Direct Industry Peer) Buy-back Tendering pattern of last years, and on the basis of our analysis of various other buy

backs done in past, We have a positive view on this particular Buy-back.. We recommend retail shareholders "BUY" the stock around in the

range of 840-850/- for tendering in Buy-Back. As per our fundamental analysis, near term downside risk is capped at 5-6% from current

market price..Our analysis suggest potential return of upto 5.5% safer arbitrage return (after adjusting 30% tax on offline transfer of shares)

in this Buy-back.. The holding period would be approx 40-45 days from now

17th May 2017

• JKCEMENT CONCALL 4QFY17

>>Vol growth during the quarter :

Grey cement : up by 12% (4QFY17 : 1.85 4QFY16 : 1.65)

White Cement : down 2% (4QFY17 1.36 4QFY16 : 1.39)

Wall Putty : up by 15% (4QFY17 : 1.47 4QFY16 : 1.28)

>>Expanding its wall putty production capacity from existing 2 lakh MT per

annum to 4 lakh MT per annum at J.K.White, Katni.

>>Also took note to increase its clinker production capacity by 3.30 lakh

MT per annum in Rajasthan grey cements plant. Total cost approx Rs 50Cr.

>>Overall Grey cement clinker capacity of Rajasthan increases to 54.45 MT

per annum.

>>Capex for FY17 was 250Cr and for FY18 also is 250Cr

>>140 Cr Debt reduction during the quarter.

>>Expect Grey Cement vol growh to be in between 12-15%.

>>Capacity expansion to be completed by June 18.

>>Expect volume growth from FY18.

>>Current Utilization in North is 65% and in South is 60%

• IRB has successfully completed concession period of Thane Bhiwandi

Bypass Project on 13th May 2017. Thane Bhiwandi Bypass Project

involved Improvement and Maintenance of Thane Bhiwandi Bypass

including widening of existing 2 Lane Road to 4 Lane Road and

Construction of New 2 Lane Bridge on Kasheli Creek [From Km (–) 0/115

to 23/509 Under BOT Scheme with Toll Rights] ('the Project') The

Concession Agreement for the Project was signed on 21st September

1998. The Concession Period of the Project was 18 years and 6 months.

• Federal Bank Mgt Guideline : Bank said that inflation

number ticking below 3 percent brought about a rally in bond

markets and now people are expecting the Reserve Bank of

India (RBI) to change their stance a bit as well. The trade

account deficit number was a bit alarming at USD 13 billion

and now with new segments like electronic goods, which is

the thirds largest group after oil and precious metals is a

cause of concern. So, it is likely that rupee may peak off at

64/USD levels.• City Union Bank Mgt Guideline : Bank expects loan growth

of 15-18 percent in FY18. The slippage ratio should be coming

down gradually and getting towards long-term average . The

slippage rate has been at 2 percent in the recent times. Bank

said no inorganic opportunity seen at present . Bank doesn't

foresee major effect from Tamil Nadu drought situation on

the asset quality. Majority of the bank's business comes from

the state.

• Chennai Petroleum Corporation (CPCL ) Mgt Guideline :

The margins in Q4FY17 were hit due to higher employee

expenses and impairment of its non-current assets. CPCL is a

group company of IOC. Gross refining margins (GRMs) for the

full years FY17 is improved . The GRMs came stood at USD

6.05 per barrel as compared to USD 5.27 in FY16 . The

throughput increased 6.34 percent to 10.256 million tonnes

for FY17 compared to 9.644 million tonnes in FY16. Company

plan to operate the refinery at 100 percent capacity utilisation

and so volumes could improve. • Maruti Suzuki India (MSI) launched an all new version of its compact

sedan Dzire, priced between Rs 5.45 lakh and Rs 9.41 lakh• Vaibhav Global Mgt Guideline : Company Expect double-

digit volume growth; aim to sustain margins .

Narnolia Securities Ltd

Scrip Reco Initiation Price Target 2 Stop Loss

CANBK Buy 373.1 397 369

IDFC Buy 64.25 68 62.5

F&O OPEN INTEREST ( Number of Contracts )

Individual Foreign Institutions

MARKET MOVERS (1 MONTH CHANGE)

Nifty Movers NSE Sectoral Indices Performance

66

The stock has made a hammer pattern on

daily candlestick chart. Some fresh buying is

likely to emerge in the stock at the current

level.

TRADING IDEAS

Target 1 Rational

384

The stock found a strong support near at

370 and thereafter gave a smart pullback

rally yesterday. The stochastic and RSI are in

oversold zone, suggesting some pullback

rally from the current level.

Narnolia Securities Ltd

BSE Code Company Name Date BSE Code Company Name Date

532404 7TEC 17-May-17 532478 UBL 17-May-17

526711 ADARSHPL 17-May-17 539141 UFO 17-May-17

532480 ALBK 17-May-17 524129 VINYLINDIA 17-May-17

532978 BAJAJFINSV 17-May-17 526921 21STCENMGM 18-May-17

500034 BAJFINANCE 17-May-17 524348 AARTIDRUGS 18-May-17

540061 BIGBLOC 17-May-17 500303 ABIRLANUVO 18-May-17

509470 BOMOXY-B1 17-May-17 539661 ACEMEN 18-May-17

508814 COSMOFILMS 17-May-17 500710 AKZOINDIA 18-May-17

540047 DBL 17-May-17 531581 ALKADIA 18-May-17

504286 DELTAMAGNT 17-May-17 506767 ALKYLAMINE 18-May-17

530959 DIANATEA 17-May-17 513117 AMFORG 18-May-17

522261 DOLPHINOFF 17-May-17 506074 ARSHIYA 18-May-17

504908 DUNCANENG 17-May-17 524594 ASHOKALC 18-May-17

532922 EDELWEISS 17-May-17 505010 AUTOAXLES 18-May-17

530023 FORTUNEF 17-May-17 532977 BAJAJ-AUTO 18-May-17

511128 GALAXCP 17-May-17 500490 BAJAJHLDNG 18-May-17

500174 GLFL 17-May-17 532134 BANKBARODA 18-May-17

533263 GREENPOWER 17-May-17 509449 BHAGWOX 18-May-17

524238 GUJINJEC 17-May-17 512296 BHAGYNAGAR 18-May-17

500696 HINDUNILVR 17-May-17 500069 BNKCAP 18-May-17

530055 HRMNYCP 17-May-17 538546 BRPL 18-May-17

507438 IFBAGRO 17-May-17 500084 CESC 18-May-17

532717 INDOTECH 17-May-17 505230 CIMMCO 18-May-17

500380 JKLAKSHMI 17-May-17 512018 CNIRESLTD 18-May-17

500228 JSWSTEEL 17-May-17 513353 COCHINM 18-May-17

500241 KIRLOSBROS 17-May-17 539436 COFFEEDAY 18-May-17

515093 MADHAV 17-May-17 500480 CUMMINSIND 18-May-17

506261 MODISNME 17-May-17 523736 DPL 18-May-17

500109 MRPL 17-May-17 532610 DWARKESH 18-May-17

501477 MULLER 17-May-17 500125 EIDPARRY 18-May-17

500304 NIITLTD 17-May-17 523708 EIMCOELECO 18-May-17

521105 OLYMPTX 17-May-17 524564 GAYATRIBI 18-May-17

513511 PANCHMAHQ 17-May-17 532622 GDL 18-May-17

517119 PCS 17-May-17 532764 GEECEE 18-May-17

509077 PRESSMN 17-May-17 532744 GTNTEX 18-May-17

520111 RATNAMANI 17-May-17 590043 HARITASEAT 18-May-17

503169 RUBYMILLS 17-May-17 533525 HEALTHTECH 18-May-17

530267 SABOOBR 17-May-17 533217 HMVL 18-May-17

539334 SHREEPUSHK 17-May-17 500187 HSIL 18-May-17

533014 SICAGEN 17-May-17 533047 IMFA 18-May-17

532419 SMARTLINK 17-May-17 504741 INDIANHUME 18-May-17

538635 SNOWMAN 17-May-17 532240 INDNIPPON 18-May-17

536799 SRSFIN 17-May-17 500207 INDORAMA 18-May-17

532390 TAJGVK 17-May-17 500306 JAYKAY 18-May-17

511730 TRCFIN 17-May-17 507987 JPTRLES 18-May-17

506808 TUTIALKA 17-May-17 532926 JYOTHYLAB 18-May-17

512307 TYPHOON 17-May-17 506528 KELENRG 18-May-17

Result Calendar Q4FY17

540222 LAURUSLABS 18-May-17 512195 BENTCOM 19-May-17

500262 MAFATLAFIN 18-May-17 533108 BTTL 19-May-17

530011 MANGCHEFER 18-May-17 532834 CAMLINFIN 19-May-17

538942 MERCANTILE 18-May-17 509486 CAPRIHANS 19-May-17

539045 MNKALCOLTD 18-May-17 531621 CENTERAC 19-May-17

533398 MUTHOOTFIN 18-May-17 533288 CLARIS 19-May-17

523630 NFL 18-May-17 531472 CYBELEIND 19-May-17

509782 OSEASPR 18-May-17 502137 DECCANCE 19-May-17

514326 PATSPINLTD 18-May-17 507717 DHANUKA 19-May-17

513228 PENIND 18-May-17 505700 ELECON 19-May-17

500331 PIDILITIND 18-May-17 500128 ELECTCAST 19-May-17

513519 PITTILAM 18-May-17 505744 FMGOETZE 19-May-17

530695 PRIMEPRO 18-May-17 500660 GLAXO 19-May-17

524037 RAMAPHO 18-May-17 532630 GOKEX 19-May-17

523289 RAMAVISION 18-May-17 500300 GRASIM 19-May-17

532690 RAMSARUP 18-May-17 526899 HIMIN 19-May-17

539346 SADBHIN 18-May-17 505893 HINDHARD 19-May-17

532310 SHREERAMA 18-May-17 532662 HTMEDIA 19-May-17

505729 SINGER 18-May-17 500106 IFCI 19-May-17

512589 SITAENT 18-May-17 535648 JUSTDIAL 19-May-17

532531 STAR 18-May-17 522287 KALPATPOWR 19-May-17

537253 SUNLOC 18-May-17 532714 KEC 19-May-17

533298 SURANASOL 18-May-17 507180 KESARENT 19-May-17

517530 SURANAT&P 18-May-17 524699 KILBURNC 19-May-17

532782 SUTLEJTEX 18-May-17 532932 MANAKSIA 19-May-17

532890 TAKE 18-May-17 539044 MANAKSTELTD 19-May-17

533170 TAMBOLI 18-May-17 538964 MERCURYLAB 19-May-17

522229 TANAA 18-May-17 533088 MHRIL 19-May-17

532790 TANLA 18-May-17 522241 MMFL 19-May-17

532301 TATACOFFEE 18-May-17 503015 MODERN 19-May-17

533553 TDPOWERSYS 18-May-17 517334 MOTHERSUMI 19-May-17

539658 TEAMLEASE 18-May-17 520043 MUNJALSHOW 19-May-17

509917 TECHCON 18-May-17 539843 NINSYS 19-May-17

539428 TEJNAKSH 18-May-17 516082 NRAGRINDQ 19-May-17

533158 THANGAMAYL 18-May-17 539015 ORTEL 19-May-17

506680 TRELCHE-B 18-May-17 524051 POLYPLEX 19-May-17

533655 TRITURBINE 18-May-17 500346 PUNJCOMMU 19-May-17

533171 UNITEDBNK 18-May-17 532527 RKFORGE 19-May-17

507880 VIPIND 18-May-17 500112 SBIN 19-May-17

513713 WHITEORG 18-May-17 508961 SHRICON 19-May-17

532883 ZYLOG 18-May-17 539911 SNIM 19-May-17

500488 ABBOTINDIA 19-May-17 532293 SOFTTECHGR 19-May-17

532762 ACE 19-May-17 500402 SPMLINFRA 19-May-17

505216 ALFREDHE 19-May-17 514138 SURYALA 19-May-17

531677 ARISINT 19-May-17 500400 TATAPOWER 19-May-17

526847 ASHSI 19-May-17 532966 TWL 19-May-17

513142 BALASORE 19-May-17 539798 UMIYA 19-May-17

503960 BBL 19-May-17 532953 VGUARD 19-May-17

511509 VIVOBIOT 19-May-17 523732 ECOBOAR 20-May-17

539118 VRLLOG 19-May-17 521014 EUROTEXIND 20-May-17

590013 XPROINDIA 19-May-17 500171 GHCL* 20-May-17

512367 ZSHERAPR 19-May-17 517571 INDLMETER 20-May-17

512291 ZSPEEDCO 19-May-17 523586 INDTONER 20-May-17

534742 ZUARI 19-May-17 512329 JARITEX 20-May-17

500780 ZUARIGLOB 19-May-17 507598 KLRF 20-May-17

539151 ARFIN 20-May-17 535387 LAKHOTIA 20-May-17

524695 ASIANFR 20-May-17 539785 PDMJEPAPER 20-May-17

531268 B2BSOFT 20-May-17 500343 PDUMJEPULP 20-May-17

500085 CHAMBLFERT 20-May-17 530419 SUMEDHA 20-May-17

534691 COMCL 20-May-17 500412 TIRUMALCHM 20-May-17

535267 COMFINCAP 20-May-17 532356 TRIVENI 20-May-17

531216 COMFINTE 20-May-17 502281 TRIVENIGQ 20-May-17

532329 DANLAW 20-May-17 522014 UNIDT 20-May-17

Date NSE CODE SALES SALES YoY PAT PAT YoY

16-May-17 SHREECEM 2214 9.70 229 2.40

16-May-17 TATASTEEL 33923 15.00 1581 LP

16-May-17 PIIND 606 3.70 94 0.10

16-May-17 PNB 3987 44.00 61 LP

17-May-17 HINDUNILVR 8068 4.50 1103 (1.00)

17-May-17 UBL 1158 (4.70) 61 16.90

17-May-17 JSWSTEEL 17346 62.20 713 332.10

17-May-17 MRPL 11975 28.90 443 (67.20)

17-May-17 BAJAJFINSV 1549 39.40 455 44.40

18-May-17 BAJAJ-AUTO 4911 (8.40) 842 (11.30)

18-May-17 CUMMINSIND 1261 18.80 186 11.20

18-May-17 JYOTHYLAB 541 9.60 48 341.40

18-May-17 PIDILITIND 1241 0.00 142 (8.40)

18-May-17 GDL 282 9.50 21 (21.50)

18-May-17 CESC 1556 5.20 249 0.30

18-May-17 BANKBARODA 3445 3.40 509 LP

18-May-17 MUTHOOTFIN 807 (6.70) 325 22.60

19-May-17 GRASIM 2398 (4.30) 249 19.50

19-May-17 GLAXO 729 6.30 88 (1.90)

19-May-17 HTMEDIA 672 6.50 41 8.00

19-May-17 JUSTDIAL 193 7.50 24 (31.10)

19-May-17 SBIN 15117 (1.10) 2230 76.50

Earning Estimate Q4FY17

CountryMonday

15th May 17

Tuesday

16th May 17

Wednesday

17th May 17

Thursday

18th May 17

Friday

19th May 17

USEmpire State Manufacturing

Index

Building Permits ,

Housing Starts , Capacity

Utilization Rate ,

Industrial Production

m/m, NAHB Housing

Market Index, TIC Long-

Term Purchases.

Crude Oil Inventories ,

Philly Fed Manufacturing Index

, Unemployment Claims, CB

Leading Index m/m , Natural

Gas Storage.

UK/EURO ZONEItalian Trade Balance , German

Buba Monthly Report

Flash GDP q/q , German

ZEW Economic Sentiment

, Trade Balance, ZEW

Economic Sentiment , CPI

y/y , PPI Input m/m , RPI

y/y , Core CPI y/y.

Average Earnings Index

3m/y , Claimant Count

Change , Unemployment

Rate , Final Core CPI y/y.

German WPI m/m , Retail Sales

m/m ,

German PPI m/m ,

Current Account , CBI

Industrial Order

Expectations , Consumer

Confidence.

INDIA

Economic Calendar

Narnolia Securities Ltd201 | 2nd Floor | Marble Arch Build ing | 236B-AJC Bose

Road | Kolkata-700 020 , Ph : 033-40501500

email: narnolia@narnolia.com,

website : www.narnolia.com

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consider reliable, but we do not represent that it is accurate or complete and we do not

provide any express or implied warranty of any kind, and also these are subject to change

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should use their own judgment for taking any investment decisions keeping in mind that

past performance is not necessarily a guide to future performance & that the the value of

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