MARKET Diary

14-Mar-17

Nifty Intraday Chart Market
KEY LEVELS Market Value % Change
Morning Traded Market
Support 1 : 8939
SGX NIFTY 9,189.00 -0.08%
Resistance 1: 9119
Resistance 2: 9240
NIKKIE 19622 -0.06%
HANG SENG 23,829.00 1.10%
Yesterday Closing Market
Sensex 28,946.34 0.06%
Nifty 8,934.55 0.08%
Market Outlook DOW 20,874.00 -0.14%
Indian equities gave a range bound and choppy NASDAQ 5,875.78 0.24%
movement throughout last week and after opening
with a green session Nifty traded in the band of CAC 4,990.60 0.13%
Event Today 8891-8978. At last it ended the week with a net DAX 11,990.03 0.22%
gain of 0.42% over the previous week’s close. The
midcap and small cap indices under-performed the
FTSE 7,367.00 0.33%
Board Meetings benchmark index and closed the week with a net EW ALL SHARE 16,140.60 0.70%
IISL : General loss of 0.8% each. % Change in 1 day
On the sectoral front, some buying interest was Commodity Price ( Yesterday Closing )
witnessed in Banking, Auto and Media stocks while
Amalgamation Metal and pharmaceuticals stocks have shown Commodity/Currencies Value % Change
GEOMETRIC some weakness. GOLD 28236.00 -0.46%
( Exdate : 14.3.2017) The Index of Industrial production (IIP) rose to 2.7% SILVER 40391.00 -0.34%
in January 2017 as against -0.1% in December 2016.
CRUDEOIL 49.59 0.83%
The rebound in IIP is mainly due to a strong growth
Interim Dividend in capital goods sector and it was up by 10.7%. The
NATURALGAS 201.00 0.55%
COALINDIA : Rs 18.7/- Mining, Manufacturing and Electricity also DOLLAR/RS. 66.60 0.00%
DICIND : Rs 4/- contributed to surge the IIP. EURO/RS. 70.53 -0.65%
EMAMILTD : Rs 1.75/- India’s foreign exchange reserves rose by USD 1.2 -0.12%
POUND/RS. 80.86
billion to USD 364 billion on February 17. The
TVSMOTOR : Rs 1.25/- % Change in 1 day
country has been receiving a strong intake of
( Exdate : 14.3.2017) Institutional Turnover
investments from foreign investors throughout the
New Year. According to the NSDL data, the foreign FII
Macro Data investors have already invested Rs 22654 crores Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
during the period. 10-Mar-17 4622 4210 412
WPI
Strong showing by BJP in UP election will see NIfty
break the recent pause in its uptrend. As discussed Mar-17 41076 33665 7412
last week, immediate target post crossing 9000 2017 223981 209189 14792
would be 9140 for NIfty. However, we believe the
focus would soon revert to fundamentals –
valuations at ~18.3x FY18E EPS on anticipated ~18% DII
growth in FY18 Sensex EPS do not provide Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
meaningful room for upside. Though certainty of
10-Mar-17 2506 2519 (14)
BJP government post 2019 is surely a liquidity
positive event. Mar-17 19084 22944 (3860)
2017 129996 129090 906

Quote of the Day : "Develop into a lifelong self-learner through voracious reading; cultivate curiosity
and strive to become a little wiser every day." Charlie Munger
Narnolia Securities Ltd
IEA Snapshot

JKIL "BUY" 10th Mar 2017
JKIL is the one of the best EPC Company with lower Debt to equity. Strong order book and execution of Mumbai metro projects boosted
revenue in Q3FY17and we expect it to continue. Earlier we had a concern related to execution of JNPT road project but now we have
received clarification from management and we expect healthy execution from JNPT projects in FY18 as the utility shifting work will
complete in Q4FY17. However, still we do not have clear view on higher level of debtors but we believe it will not affect working capital in
bigger way. We expect 9%, 20% and 27% revenue growth in FY17, FY18 & FY19 respectively based on the strong order book and Mumbai
metro projects. So considering the clarification on JNPT road projects and strong revenue growth going forward, we recommend “BUY” on
the stock with unchanged target price of Rs.330.

RELIANCE Part Book Profit 9th Mar 2017
Today LTE enabled handsets are increasing at the rate of 8-9 mn/month. With its attractive plans and Only operator with pan-India sub-GHz
LTE spectrum, Jio is ready to en-cash this market opportunity. We expect ROE of 11% in FY17E. Reliance has rallied smartly recently and
has crossed our price target of Rs 1280. Short term investor may “book profit” at current levels. But for long term investors we raise out 18
months target to Rs 1408
*For details, refer to our daily report- India Equity Analytics

Top News
• ONGC Mgt Guideline : On the probable merger of oil • Idea Cellular announced free incoming calls on domestic roaming and
manufacturing companies (OMCs), particularly the much talked unveiled international roaming value packs that, it claimed, would
about ONGC and HPCL , Company has not heard anything of prevent "bill shocks" to those travelling abroad
such sort from the government. There has been no meeting
with respect to such an integration. On the GDF stake sale in • Coal India is likely to miss the production target by 20 MT and may
Petronet LNG, Srinivasan said that the promoters will not buy end up producing up to 578 million tonnes this fiscal due to a string of
any of it as the structure of the company is on a joint venture issues, including evacuation and demand-supply . Coal India may not be
basis, which would deviate. There might be a hit of around Rs able to meet the target as the PSU is facing a lot of issues. In Mahanadi
1,700 crore on the revenue due to royalty payment. Company Coalfields Ltd (a Coal India arm) there were serious problems like
expects Q4 average realisation to be over USD 50 per barrel. resettlement and rehabilitation (R&R).

• NBCC has signed agreement with the Mauritius government • Maruti Suzuki India commands nearly 50 percent of the passenger
and Landscope (Mauritius) Ltd for construction of new Supreme vehicle market in the country, has already started operations at its new
Court building on PMC basis in Mauritius. The approx value of plant in Gujarat as part of the plan to raise its total production to 2
the project is USD 35 million (Rs 250 crore) having completion million units by 2020.
period of 24 months.
• Fund Action : RAP Enterprises LLP sold 23,967,870 shares of
Balkrishna Industries at Rs 1,309.78 per share on the BSE. However,
• ACC sold its entire shareholding comprising 2,36,50,000
VKP Enterprises LLP bought 24,116,315 shares at Rs 1,309.78 per share
Equity shares of Rs. 2 face value representing 12.13% of the
on the BSE.
equity share capital in Shiva Cements Limited.
• Alkem Laboratories said the US health regulator has Antique Securities Pvt Ltd sold 210,026 shares of Supreme Infra at Rs
inspected its Baddi plant and issued three observations on 88.50 per share on the BSE. However, Trishakti Power Holdings Private
account of violation of good manufacturing norms . The US Food Limited bought 210,026 shares at Rs 88.50 per share on the BSE.
and Drug Administration (USFDA) inspected the plant from
March 2 to March 10 and has issued an inspection report to the HDFC Trustee Co.Ltd A/C HDFC Midcap Opp Fund bought 2,439,000
company which contains three 483 observations shares of Mahindra Holidays at Rs 410 per share on the BSE
• Canara Bank, which has been struggling to sell non-core • PNC Infratech has sold its 26,500 shares equivalent to 76.50 per cent
assets to shore up its poor core capital, sold 13.45 per cent of paid up capital in its subsidiary PNC Power for Rs 15.10 lakh equivalent
its stake in its home finance arm Can Fin Homes to GIC of to 76.50 per cent of the paid up capital of the subsidiary company
Singapore for Rs 753.8 crore or USD 113 million.
• Cairn liable to pay Rs 10,247 cr capital gains tax: ITAT . Tax • IL&FS Transportation has sold its entire stake in Andhra Pradesh
tribunal ITAT as upheld levy of Rs 10,247 crore capital gains tax Expressway (APEL) to Cube Highways & Infrastructure, Singapore for Rs
on UK's Cairn Energy Plc but has held that interest cannot be 140 crore.
charged on it as the demand was raised using retrospective tax
legislation.
Narnolia Securities Ltd
F&O OPEN INTEREST ( Number of Contracts )
Individual Foreign Institutions

MARKET MOVERS (1 MONTH CHANGE)

Nifty Movers NSE Sectoral Indices Performance

TRADING IDEAS

Scrip Reco Initiation Price Target 1 Target 2 Stop Loss Rational
After consolidating in a narrow range, the
stock has given a bullish breakout on Friday
JUBLFOOD Buy 1073.6 1097 1114 1050 with decent volumes. Some fresh buying is
likely to emerge in the stock from the current
level.

The stock has been gating a strong support
Short
near 8800 since last couple of weeks. Huge
Nifty March 8800 (1 Lot=
57.35 21 2 80 amount of put open interest was also built at
PE 75) strike price 8800. So it is very unlikely to
breach in the March expiry.

Narnolia Securities Ltd
Economic Calendar
Monday Tuesday Wednesday Thursday Friday
Country
14th Mar 17 15th Mar 17 16th Mar 17 17th Mar 17 18th Mar 17
CPI m/m, Core CPI m/m, Core
Retail Sales m/m, Retail Sales
Natural Gas Storage,
m/m, Empire State
PPI m/m, Core PPI m/m, Building Permits, Philly Fed Capacity Utilization Rate,
Manufacturing Index, Crude
NAHB Housing Market Manufacturing Index, Industrial Production m/m,
US Index, TIC Long-Term
Oil Inventories, FOMC
Unemployment Claims, Housing Prelim UoM Consumer
Economic Projections, FOMC
Purchases. Starts, Natural Gas Storage. Sentiment, Prelim UoM
Statement, Federal Funds
Inflation Expectations.
Rate, FOMC Press Conference.

Final CPI y/y, Final Core CPI y/y,
French Final CPI m/m,
Average Earnings Index 3m/y, German 10-y Bond Auction, MPC
Italian Trade Balance,
Claimant Count Change, Official Bank Rate Votes, German WPI m/m, Trade CBI Industrial Order
German ZEW Economic
UK/EURO ZONE Sentiment, Industrial
Unemployment Rate, Monetary Policy Summary, Balance, Consumer Expectations, German
Employment Change q/q, BOE Official Bank Rate, Asset Confidence. PPI m/m.
Production m/m, ZEW
Quarterly Bulletin. Purchase Facility, MPC Asset
Economic Sentiment.
Purchase Facility Votes.

INDIA WPI Data

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