November 01, 2016web.angelbackoffice.com/Research_ContentManagement/pdf_report/… · that it has...

1 1

www.angelbroking.com

Market Outlook

November 01, 2016

Market Cues

Indian markets are likely to open positive tracking global cues and SGX Nifty.

U.S. stocks closed lower on Monday as the probability of December rate hike

increased with new data release as well as election uncertainty weighed on the

minds of investors. The S&P 500 index slipped 0.26 points to close at 2,126, with

five of the 11 main sectors finishing lower. The Dow Jones Industrial Average

declined 0.1%, to close at 18,142. Economic data released on Monday (consumer

spending and inflation) is consistent with previous releases suggesting that Fed is

likely to raise interest rates in December.

FTSE 100 shares closed 0.6% lower at 6,954 on Monday as the mood on the bourse

was downbeat. WPP, UK's advertising behemoth, was the biggest riser on the FTSE

100 said that its UK sales showed slower growth, which could be "the first signs of

Brexit anxiety".

Markets ended the customary 'Muhurat' trading session to usher in the new year

Samvat 2073 on a negative bias with the broader markets outperforming the

benchmark indices. The S&P BSE Sensex ended down 11 points at 27,930 and the

50-share Nifty settled 12 points lower at 8,626. In the broader markets, the BSE

Midcap index gained 0.5% and the Small-cap index gained nearly 1% to hit 52-

week high in intra-day trade

Result Review

Sundaram Finance Q2 profit rises 13.2% to `128cr

Nestle India’s Q2 profit more than doubles to `269cr

Detailed analysis on Pg2

Investor’s Ready Reckoner

Key Domestic & Global Indicators

Stock Watch: Latest investment recommendations on 150+ stocks

Refer Pg6 onwards

Top Picks

Company Sector Rating CMP

(`) Target

(`) Upside

(%)

Amara Raja Batteries Auto & Auto Ancill. Buy 1,014 1,218 20.1

HCL Tech IT Buy 764 1,000 30.8

Bharat Electronics Capital Goods Accumulate 1,301 1,414 8.7

Equitas Holdings Financials Buy 179 235 31.6

Navkar Corporation Others Buy 199 265 32.9

More Top Picks on Pg5

Key Upcoming Events

Date Region Event Description

Previous

Reading

Consensus

Expectations

Nov 01 Euro Zone Euro Zone GDP s.a. (QoQ) 0.3 0.3

Nov 01 China PMI Manufacturing 50.4 50.3

Nov 02 US FOMC rate decision 0.5 0.5

Nov 02 Germany PMI Manufacturing 55.1 55.1

Nov 02 Germany Unemployment change (000’s) 1.0 (1.0) 6.(

More Events on Pg6

Domestic Indices Chg (%) (Pts) (Close)

BSE Sensex (0.0) (11) 27,930

Nifty (0.1) (12) 8,626

Mid Cap 0.5 65 13,473

Small Cap 1.0 129 13,583

Bankex (0.1) (16) 22,368

Global Indices Chg (%) (Pts) (Close)

Dow Jones (0.1) (19) 18,142

Nasdaq (0.0) (1) 5,189

FTSE (0.6) (42) 6,954

Nikkei (0.2) (32) 17,394

Hang Seng 1.1 257 23,192

Shanghai Com 0.1 3 3,104

Advances / Declines BSE NSE

Advances 2,005 982

Declines 469 656

Unchanged 205 70

Volumes (` Cr)

BSE 862

NSE 3,462

Net Inflows (` Cr) Net Mtd Ytd

FII (1,109) (4,122) 45,882

MFs 729 6,016 19,963

Top Gainers Price (`) Chg (%)

Star 1,046 11.3

Iifl 332 7.8

Shriramcit 2,499 7.2

Nationalum 53 7.1

Cadilahc 423 7.1

Top Losers Price (`) Chg (%)

Vrllog 289 (6.3)

Bajfinance 1,073 (2.9)

Persistent 645 (2.6)

Sjvn 33 (2.5)

Icicibank 277 (2.4)

As on October 28, 2016

2


Market Outlook

November 01, 2016

Result Review

Sundaram Finance Q2 profit rises 13.2% to `128cr

Sundaram Finance’s profit rose by 13.2% to `128cr for Q2FY17. The non-banking

financial company’s results included one-time income of `40.6cr on account of

sale of shares in BNP Paribas Sundaram Global Securities. The reported profit was

ahead of consensus of `122.6cr.

Loan disbursements for the quarter rose 6% to `3,177cr while the gross non-

performing assets (NPA) stood at 2.18%. Its net NPA stood at 1% for the quarter.

Its total assets under management, grow to `19,348cr from `17,140cr in the year-

ago period.

Nestle India’s Q2 profit more than doubles to `269cr

Nestle India’s net profit for September 2017 quarter more than doubled signaling

that it has overcome the setback it suffered from a ban on its popular Maggi

noodles last year. Net profit rose to `269.4cr from `124.2cr in the year-ago

quarter. Net sales rose by 35.1% yoy to `2,346.2cr.

The results for the quarter however are not entirely comparable with the results of

the corresponding periods due to the Maggi noodles issue in 2015. In the same

quarter last year, Nestle India could not sell Maggi noodles after the Food Safety

and Standards Authority of India (FSSAI) ordered the company to withdraw the

snack item, which accounted for about 30% of the company’s revenue. The FSSAI

order, which was overturned by the Bombay high court in August 2015, was based

on allegations that Maggi noodles contained monosodium glutamate, and lead in

excess of prescribed limits. In the quarter just gone by, Nestle India’s domestic

market grew 37.9% and exports increased by 5.1%.

The growth was broad-based across categories aided by a spate of innovations

and renovation of over 25 new products launched in the recent past. Company in

a statement said that it is in the leadership position in the instant noodles category,

vindicating consumer confidence and trust in Brand Maggi. It also said that the

newly launched Maggi Hot Heads range has accelerated its growth in the value-

added segment.

Maggi noodles now has a 57% share of the instant noodles market in India vs.

80.2% in March 2015, according to Nestle India. In November, when the

company relaunched Maggi, it had a 10.9% share of the market.

Economic and Political News

GST-rates-impasse-Centre-states-trust-deficit-widens

MFs invest Rs 8,000 cr in equities in September

Highway contracts hit a rough patch in first half of FY17

Core sector rises 5% in September

Corporate News

Escorts: ordeal with non-tractor businesses continues

SBI to allot shares to govt on preferential basis for capital infusion of Rs5,681

crore

Bajaj Auto Q2 profit rises 7% to `1,122cr on other income boost

3


Market Outlook

November 01, 2016

Top Picks

Large Cap

Company Market Cap

(` Cr)

CMP

(`) Target

(`) Upside

(%) Rationale

Amara Raja Batteries 17,323 1,014 1,218 20.1

To outpace battery industry growth due to better technological

products leading to market share gains in both the

automotive OEM and replacement segments.

Axis Bank 1,16,140 487 630 29.5

Healthy pace of branch expansion, backed by distribution

network, will be the driving force for the bank’s retail business

and overall earnings.

Bharat Electronics 31,229 1,301 1,414 8.7

Uptick in defense capex by government when coupled with

BELs strong market positioning, indicate that good times are

ahead for BEL.

HCL Tech 1,07,817 764 1,000 30.8 The stock is trading at attractive valuations and is factoring all

the bad news.

Infosys 2,29,109 997 1,249 25.2 Back on the growth trend, expect a long term growth of 14%

to be a US$20bn in FY2020.

Source: Company, Angel Research

Mid Cap

Company Market Cap

(` Cr)

CMP

(`) Target

(`) Upside

(%) Rationale

Asian Granito 819 272 351 29.0

We expect the company would report strong profitability

owing to better product mix, higher B2C sales and

amalgamation synergy.

Bajaj Electricals 2,624 260 306 17.9

Among the top 4 players in the consumer durables segment.

Improved profitability backed by turn around in E&P segment.

Strong order book lends earnings visibility.

Blue Star 5,275 553 634 14.6

Favourable outlook for the AC industry to augur well for

Cooling products business which is out pacing the market

growth. EMPPAC division's profitability to improve once

operating environment turns around.

Dewan Housing Finance 10,270 328 350 6.7

With a focus on the low and medium income (LMI) consumer

segment, the company has increased its presence in tier-II &

III cities where the growth opportunity is immense.

Equitas Holdings 5,990 179 235 31.6

Strong loan growth backed by diversified loan portfolio and

adequate CAR. ROE & ROA likely to remain decent as risk of

dilution remains low. Attractive valuations considering growth.

Jagran Prakashan 6,362 195 225 15.6

Economic recovery to have favourable impact on advertising

& circulation revenue growth. Further, the acquisition of a

radio business (Radio City) would also boost the company's

revenue growth.

Mahindra Lifespace 1,747 426 522 22.6 Speedier execution and speedier sales, strong revenue visibilty

in short-to-long run, attractive valuations

Mirza International 1,121 93 113 21.3

We expect the company to report strong growth on back of

healthy growth in domestic branded sales (owing to

aggressive ad spend and addition in the number of EBOs &

multi-brand outlets [MBOs]) and healthy export revenues.

Navkar Corporation 2,843 199 265 32.9 Massive capacity expansion along with rail advantage at ICD

as well CFS augurs well for the company.

Siyaram Silk Mills 1,509 1,609 1,714 6.5

Strong brands and distribution network would boost growth

going ahead. Stock currently trades at an inexpensive

valuation.

TV Today Network 1,982 332 363 9.3

Market leadership in Hindi news genre and no. 2 viewership

ranking in English news genre, exit from the radio business,

and anticipated growth in ad spends by corporates to benefit

the stock.

Source: Company, Angel Research

Date Company

Nov 1, 2016 Hindustan Media Ventures

Nov 2, 2016 HT Media

Nov 3, 2016 Ambuja Cements, Mphasis, MM Forging

Nov 4, 2016 Union Bank, Allahabad Bank, Central Bank, Competent Automobiles, Transport Corporation of India, Radico Khaitan

Nov 5, 2016Amara Raja Batteries, Automotive Axle, Mangalam Cement, Punjab Natl.Bank, Dena Bank, Bank of Maharashtra, Relaxo, Sterling Tools

Nov 7, 2016 CEAT, ICICI Bank, Godrej Consumer, GlaxoSmith Con, Britannia, Cravatex, Aventis

Nov 8, 2016 Bharat Forge, Ashok Leyland, BHEL, Vesuvius India, UFO Moviez

Nov 9, 2016 Apollo Tyres, Ramco Cements, Rural Elec.Corp., BPCL, ITD Cementation, Lupin

Nov 10, 2016Motherson Sumi, Thermax, Blue Star, Page Industries, Bajaj Electrical, Finolex Cables, Elecon Engineering, Sun Pharma, Team Lease Serv.

Result Calendar

Source: Bloomberg, Angel Research

Global economic events release calendar

Date Time Country Event Description Unit Period Bloomberg Data

Last Reported Estimated

Nov 1, 2016 3:30PM Euro Zone Euro-Zone GDP s.a. (QoQ) % Change 3Q A 0.30 0.30

6:30AM China PMI Manufacturing Value Oct 50.40 50.30

Nov 2, 2016 11:30PM US FOMC rate decision % Nov 2 0.50 0.50

2:25PM Germany PMI Manufacturing Value Oct F 55.10 55.10

2:25PM Germany Unemployment change (000's) Thousands Oct 1.00 (1.00)

Nov 3, 2016 6:00PM US Initial Jobless claims Thousands Oct 29 258.00 --

5:30PM UK BOE Announces rates % Ratio Nov 3 0.25 0.25

Nov 4, 2016 2:25PM Germany PMI Services Value Oct F 54.10 54.10

6:00PM US Change in Nonfarm payrolls Thousands Oct 156.00 173.00

6:00PM US Unnemployment rate % Oct 5.00 4.90

Nov 8, 2016 China Exports YoY% % Change Oct (10.00) (6.00)

3:00PM UK Industrial Production (YoY) % Change Sep 0.70 --

Nov 9, 2016 7:00AM China Consumer Price Index (YoY) % Change Oct 1.90 2.00

Nov 10, 2016 India Imports YoY% % Change Oct (2.50) --

5:30PM India Industrial Production YoY % Change Sep (0.70) --

Nov 11, 2016 India Exports YoY% % Change Oct 4.60 --

Nov 14, 2016 7:30AM China Industrial Production (YoY) % Change Oct 6.10 --

12:00PM India Monthly Wholesale Prices YoY% % Change Oct 3.57 --

Nov 15, 2016 3:00PM UK CPI (YoY) % Change Oct 1.00 --

12:30PM Germany GDP nsa (YoY) % Change 3Q P 3.10 --

Nov 16, 2016 3:00PM UK Jobless claims change % Change Oct 0.70 --

7:45PM US Industrial Production % Oct 0.06 --

US Producer Price Index (mom) % Change Oct 0.80 --


November 01, 2016

Market Outlook

Key Upcoming Events

h

1

Market Outlook

November 01, 2016

www.angelbroking.com www.angelbroking.com

Macro watch

Exhibit 1: Quarterly GDP trends

Source: CSO, Angel Research

Exhibit 2: IIP trends

Source: MOSPI, Angel Research

Exhibit 3: Monthly CPI inflation trends

Source: MOSPI, Angel Research

Exhibit 4: Manufacturing and services PMI

Source: Market, Angel Research; Note: Level above 50 indicates expansion

Exhibit 5: Exports and imports growth trends


Exhibit 6: Key policy rates

Source: RBI, Angel Research

7.8

6.4

5.8

7.5

8.3

6.6 6.7

7.5 7.6

7.2

7.9

7.1

3.0

4.0

5.0

6.0

7.0

8.0

9.0

2Q

FY14

3Q

FY14

4Q

FY14

1Q

FY15

2Q

FY15

3Q

FY15

4Q

FY15

1Q

FY16

2Q

FY16

3Q

FY16

4Q

FY16

1Q

FY17

(%)

9.9

(3.4)

(0.9)(1.6)

1.9

0.3

(1.3)

1.3 2.0

(2.5)

(0.7)

(6.0)

(4.0)

(2.0)

-

2.0

4.0

6.0

8.0

10.0

12.0

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Jul-16

Aug-16

(%)

5.0

5.4 5.6 5.7

5.3

4.8

5.5 5.8 5.8

6.1

5.1

4.3

-

1.0

2.0

3.0

4.0

5.0

6.0

7.0

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Jul-16

Aug-16

Sep-16

(%)

46.0

47.0

48.0

49.0

50.0

51.0

52.0

53.0

54.0

55.0

56.0

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Jul-16

Aug-16

Sep-16

Mfg. PMI Services PMI

(35.0)

(30.0)

(25.0)

(20.0)

(15.0)

(10.0)

(5.0)

0.0

5.0

10.0

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Jul-16

Aug-16

Sep-16

Exports yoy growth Imports yoy growth(%)

3.00

3.50

4.00

4.50

5.00

5.50

6.00

6.50

7.00

Dec-15

Dec-15

Jan-16

Feb-16

Feb-16

Mar-16

Apr-16

Apr-16

May-16

Jun-16

Jul-16

Jul-16

Aug-16

Sep-16

Sep-16

Oct-16

Repo rate Reverse Repo rate CRR (%)

h

2

Market Outlook

November 01, 2016


Global watch

Exhibit 1: Latest quarterly GDP Growth (%, yoy) across select developing and developed countries


Exhibit 2: 2016 GDP Growth projection by IMF (%, yoy) across select developing and developed countries

Source: IMF, Angel Research

Exhibit 3: One year forward P-E ratio across select developing and developed countries

Source: IMF, Angel Research

(3.8)

(0.6)

5.3

6.7

0.6 5.2

4.0

3.5

2.1

1.3

3.1

1.3

0.8

(6.0)

(4.0)

(2.0)

-

2.0

4.0

6.0

8.0

Brazil

Russia

India

China

South A

frica

Indonesia

Malaysia

Thailand

UK

USA

Germ

any

France

Japan

(%)

(3.3)

(0.8)

7.6

6.6

0.1

4.9

4.3

3.2

1.8 1.6 1.7

1.3

0.5

(4.0)

(2.0)

-

2.0

4.0

6.0

8.0

10.0

Brazil

Russia

India

China

South A

frica

Indonesia

Malaysia

Thailand

UK

USA

Germ

any

France

Japan

(%)

15.1

8.2

17.4

13.3

15.8

18.4

16.5

13.8

15.5

15.5

12.9

14.2

14.1

-

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

20.0

Bra

zil

Russia

Ind

ia

Ch

ina

So

uth

A

fric

a

Ind

onesi

a

Mala

ysia

Th

ailand

UK

US

A

Germ

an

y

Fra

nce

Jap

an

(x)

h

3

Market Outlook

November 01, 2016


Exhibit 4: Relative performance of indices across globe

Returns (%)

Country Name of index Closing price 1M 3M 1YR

Brazil Bovespa 64,925 9.4 13.3 37.5

Russia Micex 1,990 (0.3) 4.0 16.4

India Nifty 8,626 (0.9) 0.4 4.5

China Shanghai Composite 3,100 2.3 2.9 (7.9)

South Africa Top 40 44,019 (4.5) (4.1) (8.2)

Mexico Mexbol 48,009 0.7 2.6 5.9

Indonesia LQ45 927 0.8 0.3 17.7

Malaysia KLCI 1,672 0.5 0.5 (1.9)

Thailand SET 50 937 (0.5) (2.9) 2.2

USA Dow Jones 18,142 (0.0) (1.4) 1.8

UK FTSE 6,954 0.5 3.9 8.9

Japan Nikkei 17,425 5.8 4.6 (6.1)

Germany DAX 10,665 2.2 3.2 (2.6)

France CAC 4,509 1.5 4.2 (8.2)


Company Name Reco CMP Target Mkt Cap Sales ( ₹cr ) OPM(%) EPS (₹) PER(x) P/BV(x) RoE(%) EV/Sales(x)

( ₹ ) Price ( ₹) ( ₹ cr ) FY17E FY18E FY17E FY18E FY17E FY18E FY17E FY18E FY17E FY18E FY17E FY18E FY17E FY18E

Agri / Agri Chemical

Rallis Neutral 220 - 4,284 1,937 2,164 13.3 14.3 9.0 11.0 24.5 20.0 4.3 3.7 18.4 19.8 2.3 2.0

United Phosphorus Neutral 698 - 35,375 15,176 17,604 18.5 18.5 37.4 44.6 18.7 15.7 3.7 3.0 21.4 21.2 2.4 2.1

Auto & Auto Ancillary

Ashok Leyland Buy 90 111 25,684 22,407 26,022 10.6 10.6 5.2 6.4 17.3 14.1 3.9 3.3 23.6 24.7 1.2 1.0

Bajaj Auto Neutral 2,835 - 82,025 25,093 27,891 19.5 19.2 143.9 162.5 19.7 17.5 5.5 4.8 30.3 29.4 3.0 2.6

Bharat Forge Neutral 885 - 20,594 7,726 8,713 20.5 21.2 35.3 42.7 25.1 20.7 4.6 4.2 18.9 20.1 2.7 2.4

Eicher Motors Neutral 24,020 - 65,241 16,583 20,447 17.5 18.0 598.0 745.2 40.2 32.2 13.7 10.5 41.2 38.3 3.8 3.0

Gabriel India Neutral 127 - 1,823 1,544 1,715 9.0 9.3 5.4 6.3 23.5 20.1 4.4 3.9 18.9 19.5 1.1 1.0

Hero Motocorp Accumulate 3,348 3,541 66,848 30,958 34,139 15.7 15.7 193.6 208.3 17.3 16.1 6.8 5.6 34.2 30.5 2.0 1.8

Jamna Auto Industries Neutral 226 - 1,802 1,486 1,620 9.8 9.9 15.0 17.2 15.0 13.1 3.3 2.8 21.8 21.3 1.3 1.2

L G Balakrishnan & Bros Neutral 687 - 1,078 1,302 1,432 11.6 11.9 43.7 53.0 15.7 13.0 2.2 2.0 13.8 14.2 0.9 0.8

Mahindra and Mahindra Neutral 1,311 - 81,410 46,534 53,077 11.6 11.7 67.3 78.1 19.5 16.8 3.2 2.8 15.4 15.8 1.7 1.5

Maruti Neutral 5,875 - 177,481 69,186 82,217 14.7 14.4 198.5 241.4 29.6 24.3 5.8 4.7 20.2 20.0 2.3 1.8

Minda Industries Neutral 366 - 2,899 2,728 3,042 9.0 9.1 68.2 86.2 5.4 4.2 1.2 1.0 23.8 24.3 1.1 1.0

Motherson Sumi Neutral 331 - 46,466 45,896 53,687 7.8 8.3 13.0 16.1 25.4 20.6 8.2 6.5 34.7 35.4 1.1 0.9

Rane Brake Lining Neutral 1,162 - 919 511 562 11.3 11.5 28.1 30.9 41.3 37.6 6.3 5.7 15.3 15.0 1.9 1.8

Setco Automotive Neutral 42 - 558 741 837 13.0 13.0 15.2 17.0 2.8 2.5 0.5 0.4 15.8 16.3 1.1 1.0

Tata Motors Neutral 536 - 154,711 300,209 338,549 8.9 8.4 42.7 54.3 12.6 9.9 2.0 1.7 15.6 17.2 0.6 0.5

TVS Motor Neutral 405 - 19,224 13,390 15,948 6.9 7.1 12.8 16.5 31.7 24.5 7.9 6.3 26.3 27.2 1.5 1.2

Amara Raja Batteries Buy 1,014 1,218 17,323 5,429 6,471 17.5 17.6 35.3 43.5 28.7 23.3 6.6 5.3 25.3 24.8 3.1 2.5

Exide Industries Neutral 196 - 16,626 7,439 8,307 15.0 15.0 8.1 9.3 24.2 21.0 3.4 3.0 14.3 16.7 1.9 1.7

Apollo Tyres Buy 202 235 10,280 12,877 14,504 14.3 13.9 21.4 23.0 9.4 8.8 1.5 1.3 16.4 15.2 1.0 0.9

Ceat Buy 1,214 1,450 4,910 7,524 8,624 13.0 12.7 131.1 144.3 9.3 8.4 1.7 1.4 19.8 18.6 0.7 0.6

JK Tyres Neutral 141 - 3,192 7,455 8,056 15.0 15.0 21.8 24.5 6.5 5.7 1.4 1.1 22.8 21.3 0.6 0.5

Swaraj Engines Neutral 1,340 - 1,664 660 810 15.2 16.4 54.5 72.8 24.6 18.4 7.7 7.0 31.5 39.2 2.3 1.9

Subros Neutral 166 - 996 1,488 1,681 11.7 11.9 6.4 7.2 25.9 23.2 2.7 2.5 10.8 11.4 0.9 0.8

Indag Rubber Neutral 192 - 504 286 326 19.8 16.8 11.7 13.3 16.4 14.4 2.8 2.6 17.8 17.1 1.4 1.2

Capital Goods

ACE Neutral 46 - 452 709 814 4.1 4.6 1.4 2.1 32.6 21.8 1.3 1.3 4.4 6.0 0.8 0.7

BEML Neutral 941 - 3,918 3,451 4,055 6.3 9.2 31.4 57.9 30.0 16.3 1.8 1.6 6.3 10.9 1.3 1.1

Bharat Electronics Accumulate 1,301 1,414 31,229 8,137 9,169 16.8 17.2 58.7 62.5 22.2 20.8 3.4 3.1 44.6 46.3 2.8 2.5


November 01, 2016

Stock Watch



Capital Goods

Voltas Accumulate 387 407 12,820 6,511 7,514 7.9 8.7 12.9 16.3 30.0 23.8 5.4 4.7 16.7 18.5 1.7 1.5

BGR Energy Neutral 117 - 841 16,567 33,848 6.0 5.6 7.8 5.9 14.9 19.8 0.9 0.8 4.7 4.2 0.2 0.1

BHEL Neutral 139 - 33,985 28,797 34,742 - 2.8 2.3 6.9 60.4 20.1 1.0 1.0 1.3 4.8 0.8 0.6

Blue Star Accumulate 553 634 5,275 4,283 5,077 5.9 7.3 14.9 22.1 37.2 25.0 7.2 6.1 20.4 26.4 1.3 1.1

Crompton Greaves Neutral 76 - 4,779 5,777 6,120 5.9 7.0 3.3 4.5 23.1 16.9 1.0 1.0 4.4 5.9 0.8 0.7

Greaves Cotton Neutral 139 - 3,383 1,755 1,881 16.8 16.9 7.8 8.5 17.8 16.3 3.6 3.3 20.6 20.9 1.6 1.5

Inox Wind Neutral 212 - 4,712 5,605 6,267 15.7 16.4 24.8 30.0 8.6 7.1 2.4 1.8 25.9 24.4 0.9 0.7

KEC International Neutral 124 - 3,181 9,294 10,186 7.9 8.1 9.9 11.9 12.5 10.4 1.8 1.6 15.6 16.3 0.6 0.5

Thermax Neutral 849 - 10,121 5,421 5,940 7.3 7.3 25.7 30.2 33.1 28.1 4.0 3.7 12.2 13.1 1.8 1.6

VATech Wabag Buy 495 681 2,700 3,136 3,845 8.9 9.1 26.0 35.9 19.1 13.8 2.4 2.0 13.4 15.9 0.8 0.6

Cement

ACC Neutral 1,519 - 28,529 11,225 13,172 13.2 16.9 44.5 75.5 34.1 20.1 3.2 3.0 11.2 14.2 2.5 2.2

Ambuja Cements Neutral 242 - 48,033 9,350 10,979 18.2 22.5 5.8 9.5 41.7 25.5 3.5 3.1 10.2 12.5 5.1 4.4

India Cements Neutral 157 - 4,824 4,364 4,997 18.5 19.2 7.9 11.3 19.9 13.9 1.4 1.4 8.0 8.5 1.9 1.6

JK Cement Neutral 947 - 6,620 4,398 5,173 15.5 17.5 31.2 55.5 30.3 17.1 3.6 3.2 12.0 15.5 2.1 1.7

J K Lakshmi Cement Buy 489 565 5,758 2,913 3,412 14.5 19.5 7.5 22.5 65.3 21.8 4.0 3.4 12.5 18.0 2.6 2.1

Orient Cement Buy 175 215 3,586 2,114 2,558 18.5 20.5 8.1 11.3 21.6 15.5 3.2 2.7 9.0 14.0 2.3 1.8

UltraTech Cement Neutral 3,972 - 109,014 25,768 30,385 21.0 23.5 111.0 160.0 35.8 24.8 4.6 4.0 13.5 15.8 4.3 3.6

Construction

ITNL Neutral 111 - 3,666 8,946 10,017 31.0 31.6 8.1 9.1 13.8 12.3 0.5 0.5 4.2 5.0 3.7 3.5

KNR Constructions Neutral 765 - 2,152 1,385 1,673 14.7 14.0 41.2 48.5 18.6 15.8 3.5 3.0 14.9 15.2 1.6 1.3

Larsen & Toubro Buy 1,478 1,700 137,741 67,665 77,249 10.7 11.5 57.3 71.2 25.8 20.8 2.4 2.2 12.6 14.3 2.2 1.9

Gujarat Pipavav Port Neutral 163 - 7,858 705 788 52.2 51.7 5.0 5.6 32.5 29.0 3.2 2.9 11.2 11.2 10.8 9.2

Nagarjuna Const. Neutral 93 - 5,184 8,842 9,775 9.1 8.8 5.3 6.4 17.6 14.6 1.4 1.3 8.2 9.1 0.7 0.6

PNC Infratech Buy 121 143 3,103 2,350 2,904 13.1 13.2 9.0 8.8 13.4 13.7 0.5 0.4 15.9 13.9 1.4 1.2

Simplex Infra Neutral 326 - 1,610 6,829 7,954 10.5 10.5 31.4 37.4 10.4 8.7 1.1 1.0 9.9 13.4 0.7 0.6

Power Mech Projects Neutral 509 - 749 1,801 2,219 12.7 14.6 72.1 113.9 7.1 4.5 1.3 1.1 16.8 11.9 0.4 0.3

Sadbhav Engineering Accumulate 279 298 4,783 3,598 4,140 10.3 10.6 9.0 11.9 31.0 23.4 3.2 2.9 9.9 11.9 1.6 1.4

NBCC Neutral 240 - 14,394 7,428 9,549 7.9 8.6 8.2 11.0 29.3 21.8 1.5 1.2 28.2 28.7 1.7 1.2

MEP Infra Neutral 42 - 680 1,877 1,943 30.6 29.8 3.0 4.2 13.9 10.0 6.7 4.5 0.6 0.6 1.7 1.6

SIPL Neutral 103 - 3,612 1,036 1,252 65.5 66.2 (8.4) (5.6) 3.8 4.4 (22.8) (15.9) 11.7 9.7


November 01, 2016

Stock Watch



Construction

Engineers India Neutral 269 - 9,075 1,725 1,935 16.0 19.1 11.4 13.9 23.6 19.4 3.3 3.2 13.4 15.3 4.2 3.8

Financials

Axis Bank Buy 487 630 116,140 46,932 53,575 3.5 3.4 32.4 44.6 15.0 10.9 1.9 1.7 13.6 16.5 - -

Bank of Baroda Neutral 156 - 35,910 19,980 23,178 1.8 1.8 11.5 17.3 13.6 9.0 1.6 1.3 8.3 10.1 - -

Canara Bank Neutral 314 - 17,034 15,225 16,836 1.8 1.8 14.5 28.0 21.6 11.2 1.5 1.2 5.8 8.5 - -

Dewan Housing Finance Accumulate 328 350 10,270 2,225 2,688 2.9 2.9 29.7 34.6 11.1 9.5 1.8 1.5 16.1 16.8 - -

Equitas Holdings Buy 179 235 5,990 939 1,281 11.7 11.5 5.8 8.2 30.8 21.8 2.7 2.4 10.9 11.5 - -

Federal Bank Neutral 82 - 14,106 9,353 10,623 2.9 2.9 4.4 5.8 18.7 14.2 1.8 1.6 9.5 11.0 - -

HDFC Neutral 1,388 - 219,454 11,475 13,450 3.4 3.4 45.3 52.5 30.6 26.4 5.9 5.2 20.2 20.5 - -

HDFC Bank Accumulate 1,259 1,350 318,847 46,097 55,433 4.5 4.5 58.4 68.0 21.6 18.5 3.8 3.2 18.8 18.6 - -

ICICI Bank Neutral 277 - 161,249 39,029 45,903 3.3 3.3 16.7 16.3 16.6 17.0 2.1 1.9 10.1 12.4 - -

LIC Housing Finance Accumulate 583 630 29,399 3,712 4,293 2.6 2.5 39.0 46.0 14.9 12.7 2.8 2.4 19.9 20.1 - -

Punjab Natl.Bank Neutral 144 - 30,621 23,532 23,595 2.3 2.4 6.8 12.6 21.2 11.4 3.3 2.3 3.3 6.5 - -

RBL Bank Neutral 375 - 13,855 1,783 2,309 2.6 2.6 12.7 16.4 29.5 22.8 3.2 2.9 12.8 13.3 - -

South Ind.Bank Neutral 24 - 3,207 6,435 7,578 2.5 2.5 2.7 3.1 8.8 7.7 1.1 1.0 10.1 11.2 - -

St Bk of India Neutral 258 - 200,163 88,650 98,335 2.6 2.6 13.5 18.8 19.1 13.7 1.8 1.6 7.0 8.5 - -

Union Bank Neutral 148 - 10,147 13,450 14,925 2.3 2.3 25.5 34.5 5.8 4.3 0.8 0.7 7.5 10.2 - -

Yes Bank Neutral 1,272 - 53,547 8,978 11,281 3.3 3.4 74.0 90.0 17.2 14.1 3.3 2.8 17.0 17.2 - -

FMCG

Asian Paints Neutral 1,070 - 102,634 17,128 18,978 16.8 16.4 19.1 20.7 56.0 51.7 19.5 18.4 34.8 35.5 5.9 5.3

Britannia Accumulate 3,306 3,626 39,668 9,795 11,040 14.6 14.9 80.3 94.0 41.2 35.2 16.9 13.1 41.2 - 3.9 3.4

Colgate Neutral 973 - 26,463 4,605 5,149 23.4 23.4 23.8 26.9 40.9 36.2 22.6 17.7 64.8 66.8 5.7 5.1

Dabur India Neutral 291 - 51,173 8,315 9,405 19.8 20.7 8.1 9.2 35.9 31.6 10.0 8.3 31.6 31.0 5.8 5.1

GlaxoSmith Con* Neutral 6,051 - 25,449 4,350 4,823 21.2 21.4 179.2 196.5 33.8 30.8 9.0 7.6 27.1 26.8 5.2 4.6

Godrej Consumer Neutral 1,606 - 54,691 10,235 11,428 18.4 18.6 41.1 44.2 39.1 36.3 8.7 7.3 24.9 24.8 5.4 4.8

HUL Neutral 838 - 181,407 35,252 38,495 17.6 17.4 20.4 21.9 41.0 38.3 33.7 29.6 82.2 77.3 5.0 4.5

ITC Buy 243 283 292,778 40,059 44,439 39.0 39.2 9.1 10.1 26.7 24.0 7.3 6.4 27.2 26.5 6.8 6.1

Marico Accumulate 282 300 36,396 6,430 7,349 18.8 19.5 6.4 7.7 44.1 36.6 13.3 11.2 33.2 32.5 5.5 4.7

Nestle* Neutral 6,961 - 67,110 10,073 11,807 20.7 21.5 124.8 154.2 55.8 45.1 22.9 20.6 34.8 36.7 6.5 5.5

Tata Global Neutral 140 - 8,833 8,675 9,088 9.8 9.8 7.4 8.2 18.9 17.1 2.1 2.1 7.9 8.1 0.9 0.9Procter & Gamble Hygiene Neutral 7,028 - 22,812 2,939 3,342 23.2 23.0 146.2 163.7 48.1 42.9 107.6 103.2 25.3 23.5 7.3 6.4


November 01, 2016

Stock Watch



IT

HCL Tech^ Buy 764 1,000 107,817 49,242 57,168 20.5 20.5 55.7 64.1 13.7 11.9 2.8 2.1 20.3 17.9 2.1 1.7

Infosys Buy 997 1,249 229,109 68,350 77,326 27.0 27.0 62.5 69.4 16.0 14.4 3.4 3.1 21.3 21.6 2.8 2.4

TCS Accumulate 2,399 2,620 472,755 119,025 133,308 27.6 27.6 131.2 145.5 18.3 16.5 5.9 5.5 32.4 33.1 3.8 3.3

Tech Mahindra Buy 436 700 42,283 30,347 33,685 17.0 17.0 37.5 41.3 11.6 10.6 2.5 2.2 21.8 20.7 1.1 1.0

Wipro Buy 462 590 112,227 55,440 60,430 18.1 18.1 35.9 39.9 12.9 11.6 2.3 2.1 19.0 19.3 1.7 1.6

Media

D B Corp Neutral 382 - 7,015 2,297 2,590 27.4 28.2 21.0 23.4 18.2 16.3 4.2 3.7 23.7 23.1 2.9 2.5

HT Media Neutral 90 - 2,104 2,693 2,991 12.6 12.9 7.9 9.0 11.4 10.0 1.0 0.9 7.8 8.3 0.4 0.2

Jagran Prakashan Buy 195 225 6,362 2,355 2,635 28.0 28.0 10.8 12.5 18.0 15.6 3.9 3.4 21.7 21.7 2.7 2.4

Sun TV Network Neutral 546 - 21,505 2,850 3,265 70.1 71.0 26.2 30.4 20.8 18.0 5.3 4.7 24.3 25.6 7.1 6.1Hindustan Media Ventures Neutral 302 - 2,216 1,016 1,138 24.3 25.2 27.3 30.1 11.1 10.0 2.1 1.9 16.2 15.8 1.5 1.3

TV Today Network Accumulate 332 363 1,982 637 743 27.5 27.5 18.4 21.4 18.1 15.5 3.2 2.7 17.4 17.2 2.7 2.2

Metals & Mining

Coal India Neutral 324 - 204,903 84,638 94,297 21.4 22.3 24.5 27.1 13.2 12.0 5.5 5.3 42.6 46.0 1.9 1.7

Hind. Zinc Neutral 253 - 106,964 14,252 18,465 55.9 48.3 15.8 21.5 16.0 11.8 2.6 2.3 17.0 20.7 7.5 5.8

Hindalco Neutral 150 - 30,892 107,899 112,095 7.4 8.2 9.2 13.0 16.3 11.5 0.8 0.7 4.8 6.6 0.8 0.7

JSW Steel Neutral 1,658 - 40,079 53,201 58,779 16.1 16.2 130.6 153.7 12.7 10.8 1.7 1.5 14.0 14.4 1.5 1.3

NMDC Neutral 131 - 52,017 6,643 7,284 44.4 47.7 7.1 7.7 18.5 17.0 1.6 1.6 8.8 9.2 5.6 5.1

SAIL Neutral 52 - 21,497 47,528 53,738 (0.7) 2.1 (1.9) 2.6 20.0 0.6 0.5 (1.6) 3.9 1.3 1.2

Vedanta Neutral 203 - 60,065 71,744 81,944 19.2 21.7 13.4 20.1 15.1 10.1 1.3 1.2 8.4 11.3 1.2 0.9

Tata Steel Neutral 404 - 39,281 121,374 121,856 7.2 8.4 18.6 34.3 21.7 11.8 1.4 1.2 6.1 10.1 1.0 0.9

Oil & Gas

Cairn India Neutral 226 - 42,409 9,127 10,632 4.3 20.6 8.8 11.7 25.7 19.3 0.8 0.8 3.3 4.2 6.1 5.1

GAIL Neutral 433 - 54,938 56,220 65,198 9.3 10.1 27.1 33.3 16.0 13.0 1.5 1.4 9.3 10.7 1.2 1.0

ONGC Neutral 288 - 246,313 137,222 152,563 15.0 21.8 19.5 24.1 14.8 12.0 1.3 1.2 8.5 10.1 2.1 1.9

Indian Oil Corp Neutral 324 - 157,089 373,359 428,656 5.9 5.5 54.0 59.3 6.0 5.5 0.9 0.8 16.0 15.6 0.6 0.5

Reliance Industries Neutral 1,054 - 341,592 301,963 358,039 12.1 12.6 87.7 101.7 12.0 10.4 1.2 1.1 10.7 11.3 1.6 1.3

Pharmaceuticals

Alembic Pharma Neutral 673 - 12,693 3,483 4,083 20.2 21.4 24.3 30.4 27.7 22.2 6.3 5.0 25.5 25.3 3.6 3.0

Aurobindo Pharma Accumulate 812 877 47,539 15,720 18,078 23.7 23.7 41.4 47.3 19.6 17.2 5.1 4.0 29.6 26.1 3.2 2.8

Sanofi India* Neutral 4,342 - 10,000 2,357 2,692 17.3 17.3 153.5 169.2 28.3 25.7 4.8 3.9 25.8 28.4 3.9 3.2

Cadila Healthcare Neutral 423 - 43,263 11,126 13,148 22.0 22.0 17.1 20.0 24.7 21.1 6.4 5.0 28.8 26.6 3.9 3.2

Cipla Neutral 574 - 46,161 15,378 18,089 17.4 18.4 21.6 27.2 26.6 21.1 3.4 3.0 13.7 15.2 3.2 2.7


November 01, 2016

Stock Watch



Pharmaceuticals

Dr Reddy's Neutral 3,360 - 55,678 16,043 18,119 23.1 24.7 126.0 157.8 26.7 21.3 3.9 3.4 15.7 17.1 3.4 3.0

Dishman Pharma Neutral 242 - 3,904 1,718 1,890 22.7 22.8 9.5 11.3 25.5 21.4 2.5 2.2 10.1 10.9 2.7 2.4

GSK Pharma* Neutral 2,910 - 24,648 3,528 3,811 16.6 18.8 51.8 59.4 56.2 49.0 15.0 15.0 26.3 30.6 6.8 6.3

Indoco Remedies Neutral 285 - 2,626 1,112 1,289 18.2 18.2 13.2 15.6 21.6 18.3 3.8 3.3 19.2 19.2 2.5 2.1

Ipca labs Neutral 610 - 7,696 3,303 3,799 15.3 15.3 17.3 19.7 35.3 31.0 3.1 2.8 9.1 9.4 2.5 2.1

Lupin Buy 1,490 1,809 67,189 15,912 18,644 26.4 26.7 58.1 69.3 25.7 21.5 5.0 4.1 21.4 20.9 4.3 3.5

Sun Pharma Buy 744 944 178,998 31,129 35,258 30.0 30.9 28.0 32.8 26.6 22.7 4.1 3.4 18.7 18.9 5.3 4.5

Power

Tata Power Neutral 78 - 21,177 36,916 39,557 17.4 27.1 5.1 6.3 15.4 12.4 1.4 1.2 9.0 10.3 1.6 1.4

NTPC Neutral 152 - 125,537 86,605 95,545 17.5 20.8 11.8 13.4 12.9 11.4 1.3 1.2 10.5 11.1 2.8 2.8

Power Grid Neutral 176 - 92,076 25,763 29,762 74.3 73.1 14.8 17.3 11.9 10.2 1.9 1.6 16.9 17.5 7.8 7.5

Real Estate

MLIFE Buy 426 522 1,747 1,152 1,300 22.7 24.6 29.9 35.8 14.2 11.9 1.1 1.0 7.6 8.6 2.2 1.9

Telecom

Bharti Airtel Neutral 319 - 127,377 105,086 114,808 34.5 34.7 12.2 16.4 26.1 19.4 1.8 1.7 6.8 8.4 2.1 1.8

Idea Cellular Neutral 76 - 27,438 40,133 43,731 37.2 37.1 6.4 6.5 11.9 11.7 1.0 0.9 8.2 7.6 1.7 1.4

zOthers

Abbott India Neutral 4,958 - 10,536 3,153 3,583 14.1 14.4 152.2 182.7 32.6 27.1 159.9 136.6 25.6 26.1 3.1 2.6

Bajaj Electricals Buy 260 306 2,624 5,099 5,805 5.6 5.9 11.4 14.6 22.8 17.8 3.1 2.7 13.4 15.1 0.5 0.5

Finolex Cables Neutral 440 - 6,729 2,883 3,115 12.0 12.1 14.2 18.6 31.0 23.7 16.5 14.4 15.8 14.6 2.0 1.8

Goodyear India* Neutral 758 - 1,748 1,598 1,704 10.4 10.2 49.4 52.6 15.3 14.4 70.8 62.1 18.2 17.0 0.8 109.1

Hitachi Neutral 1,488 - 4,046 2,081 2,433 8.8 8.9 33.4 39.9 44.6 37.3 35.9 30.0 22.1 21.4 1.9 1.6

Jyothy Laboratories Neutral 357 - 6,474 1,440 2,052 11.5 13.0 8.5 10.0 42.0 35.7 10.2 9.4 18.6 19.3 4.8 3.3

Page Industries Neutral 16,397 - 18,289 2,450 3,124 20.1 17.6 299.0 310.0 54.8 52.9 365.2 278.8 47.1 87.5 7.5 5.9

Relaxo Footwears Neutral 427 - 5,129 2,085 2,469 9.2 8.2 7.6 8.0 56.5 53.8 21.9 18.7 17.9 18.8 2.6 2.2

Siyaram Silk Mills Accumulate 1,609 1,714 1,509 1,799 2,040 11.6 11.7 104.9 122.4 15.3 13.1 2.5 2.2 16.4 16.4 1.0 0.9

Styrolution ABS India* Neutral 649 - 1,141 1,440 1,537 9.2 9.0 40.6 42.6 16.0 15.2 40.8 37.1 12.3 11.6 0.8 0.7

TVS Srichakra Neutral 3,686 - 2,822 2,304 2,614 13.7 13.8 231.1 266.6 16.0 13.8 414.1 326.1 33.9 29.3 1.2 1.1

HSIL Neutral 348 - 2,516 2,384 2,515 15.8 16.3 15.3 19.4 22.8 17.9 22.6 19.5 7.8 9.3 1.2 1.1Kirloskar Engines India Ltd Neutral 345 - 4,991 2,554 2,800 9.9 10.0 10.5 12.1 32.9 28.5 13.8 13.0 10.7 11.7 1.6 1.4

M M Forgings Neutral 453 - 547 546 608 20.4 20.7 41.3 48.7 11.0 9.3 62.1 54.9 16.6 17.0 0.8 0.8

Banco Products (India) Neutral 222 - 1,586 1,353 1,471 12.3 12.4 14.5 16.3 15.3 13.6 21.1 19.0 14.5 14.6 1.1 119.5

Competent Automobiles Neutral 208 - 128 1,137 1,256 3.1 2.7 28.0 23.6 7.4 8.8 40.0 36.1 14.3 11.5 0.1 0.1


November 01, 2016

Stock Watch



zOthers

Nilkamal Neutral 1,635 - 2,440 1,995 2,165 10.7 10.4 69.8 80.6 23.4 20.3 93.4 81.2 16.6 16.5 1.2 1.1

Visaka Industries Neutral 224 - 356 1,051 1,138 10.3 10.4 21.0 23.1 10.7 9.7 28.8 26.9 9.0 9.2 0.6 0.6Transport Corporation of India Neutral 183 - 1,401 2,671 2,911 8.5 8.8 13.9 15.7 13.2 11.7 1.8 1.6 13.7 13.8 0.6 0.6

Elecon Engineering Neutral 67 - 724 1,482 1,660 13.7 14.5 3.9 5.8 17.1 11.5 4.0 3.7 7.8 10.9 0.8 0.7

Surya Roshni Neutral 240 - 1,051 3,342 3,625 7.8 7.5 17.3 19.8 13.9 12.1 26.4 21.2 10.5 10.8 0.6 0.5

MT Educare Neutral 138 - 549 366 417 17.7 18.2 9.4 10.8 14.7 12.8 3.3 2.8 22.2 22.3 1.4 1.2

Radico Khaitan Neutral 141 - 1,873 1,659 1,802 13.0 13.2 6.3 7.4 22.2 19.1 1.9 1.8 8.6 9.3 1.6 1.4

Garware Wall Ropes Neutral 552 - 1,208 873 938 12.9 13.1 30.9 34.9 17.9 15.8 2.8 2.4 15.7 15.2 1.3 1.2

Wonderla Holidays Neutral 397 - 2,243 287 355 38.0 40.0 11.3 14.2 35.1 28.0 5.0 4.4 21.4 23.9 7.5 6.1

Linc Pen & Plastics Neutral 260 - 384 382 420 9.3 9.5 13.5 15.7 19.3 16.6 3.3 2.9 17.1 17.3 1.1 1.0

The Byke Hospitality Neutral 181 - 725 287 384 20.5 20.5 7.6 10.7 23.8 16.9 5.0 4.0 20.7 23.5 2.5 1.9

Interglobe Aviation Neutral 931 - 33,538 21,122 26,005 14.5 27.6 110.7 132.1 8.4 7.1 50.3 35.9 168.5 201.1 1.6 1.2Coffee Day Enterprises Ltd Neutral 222 - 4,574 2,964 3,260 20.5 21.2 4.7 8.0 - 27.8 2.6 2.4 5.5 8.5 2.0 1.7

Navneet Education Neutral 109 - 2,594 1,062 1,147 24.0 24.0 6.1 6.6 17.9 16.4 3.7 3.3 20.6 19.8 2.5 2.3

Navkar Corporation Buy 199 265 2,843 408 612 42.9 42.3 6.8 11.5 29.4 17.3 2.0 1.8 6.9 10.5 7.9 5.3

UFO Moviez Neutral 464 - 1,282 619 685 33.2 33.4 30.0 34.9 15.5 13.3 2.1 1.9 13.8 13.9 1.8 1.4

VRL Logistics Neutral 289 - 2,632 1,902 2,119 16.7 16.6 14.6 16.8 19.8 17.2 4.3 3.8 21.9 22.2 1.5 1.3

Team Lease Serv. Neutral 1,013 - 1,733 3,229 4,001 1.5 1.8 22.8 32.8 44.5 30.9 4.8 4.1 10.7 13.4 0.4 0.3

S H Kelkar & Co. Neutral 312 - 4,506 1,036 1,160 15.1 15.0 6.1 7.2 51.0 43.4 5.5 5.0 10.7 11.5 4.2 3.7

Quick Heal Neutral 253 - 1,774 408 495 27.3 27.0 7.7 8.8 32.7 28.8 3.0 3.0 9.3 10.6 3.5 2.9

Narayana Hrudaya Neutral 341 - 6,971 1,873 2,166 11.5 11.7 2.6 4.0 129.0 86.0 7.9 7.1 6.1 8.3 3.8 3.3

Manpasand Bever. Neutral 721 - 4,126 836 1,087 19.6 19.4 16.9 23.8 42.7 30.3 5.1 4.5 12.0 14.8 4.7 3.5

Parag Milk Foods Neutral 311 - 2,618 1,919 2,231 9.3 9.6 9.5 12.9 33.0 24.1 5.1 4.2 15.5 17.5 1.5 1.3

Mirza International Buy 93 113 1,121 1,024 1,148 18.0 18.0 6.9 8.0 13.5 11.6 2.3 1.9 16.6 16.2 1.3 1.1

Asian Granito Buy 272 351 819 1,118 1,220 11.8 12.0 13.0 16.0 20.9 17.0 2.0 1.8 9.7 10.7 1.0 0.9

Source: Company, Angel Research; Note: *December year end; #September year end; &October year end; Price as on October 28, 2016


November 01, 2016

Stock Watch

Research Team Tel: 022 - 39357800 E-mail: [email protected] Website: www.angelbroking.com

DISCLAIMER

Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and Portfolio Manager with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed public offering of securities of the company covered by Analyst during the past twelve months.

This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investmentdecision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment.

Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions andtrading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company'sfundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the contrary view, if any.

The information in this document has been printed on the basis of publicly available information, internal data and other reliablesources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as thisdocument is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any wayresponsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannottestify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may beregulatory, compliance, or other reasons that prevent us from doing so.

This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,redistributed or passed on, directly or indirectly.

Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise fromor in connection with the use of this information.


Market OutlookNovember 01, 2016

Date post:	15-May-2020
Category:	Documents
Upload:	others
View:	4 times
Download:	0 times

November 01, 2016web.angelbackoffice.com/Research_ContentManagement/pdf_report/… · that it has...

Documents