TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - Indian Bench mark Index Nifty 50 closed at 8935 after making a high of 8978 and a low of 8892 on last week, and opened on a positive note on Monday trading session at 9091 up by 157 points or 1.72 per cent. The Nifty 50 opened above its all time high of 9119 gave a big salute to Narendra Modi led BJP government win in India biggest state UP. The BJP government got 325 seats out of 403 seats in the state. The market opened with euphoric buying sentiment and fresh buying trapped. The BJP’s clear sweep in UP was a big positive surprise for the market Nifty was trading all time high up by 150 points. Apart from Indian politics, market also get impacted on the revival WPI & CPI data along with hosts of global Geo-political & central banks events. Now all major events like UP Polls and US Fed Interest Rate hike have been finished which will remove Uncertainty from the markets and Indian Stock Market would head towards new highs. Nifty would move positive and traders should hold long positions or go long at every dip in the market. 9011 would be crucial level Down side for Nifty Market would remain buy on dips until 9011 levels. Time and Price action suggests that, Nifty has to sustain over 9145 area for further rally towards 9207-9238 in the short term. The Crucial levels for Nifty 9120-8980 is Down side and 9220-9248 is Up side.. BANK NIFTY : - The Banking stocks Index Bank Nifty closed at 20727 on Friday after making a high of 20877, the index made a low of 20648. Index also opened gap up at 21190 and made an all time high of 21274 & closed at 21103, which is 375 points high from its previous day’s close of 20728. ICICI Bank rose by 6.17% which was the top mover in the Banking Index. The other banks like HDFC Bank was up by 0.76% , SBIN by 0.96%, Kotak Bank by 0.87% and Yes Bank by 3.40%. The Bad loans of public sector banks rose by over Rs. 1 lakh crore during April-December period of 2016-17. Bank Nifty would move towards the level of 21500-22000 soon, Bank Nifty has to sustain over 21400 area for further rally towards 21500-21675 & 21855-21950 in the near term. On the other side, sustaining below 21350 area, Bank Nifty may fall towards 21200-21100 & 21000-20900 in the near term.
Monday, 20 March 2017
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
WEEKLY
MONTHLY
R2
R1
PP
S1
S2
9282
9204
9165
9126
9048
R2
R1
PP
S1
S2
9512
9260
9134
9008
8756
R2
R1
PP
S1
S2
10049
9395
9068
8741
8087
R2
R1
PP
S1
S2
21700
21364
21196
21028
20692
R2
R1
PP
S1
S2
21873
21405
21171
20937
20469
R2
R1
PP
S1
S2
23590
21838
20962
20086
18334
BANK NIFTY DAILY
WEEKLY
MONTHLY
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
NIFTY
8919
8735
8589
8441
BANK NIFTY
20648
20075
19568
18963
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
8955
8522
8209
BANK NIFTY
20498
19101
17458
200 DAYS
PATTERN FORMATION ( NIFTY )
Detail of Chart - On the Above given daily Chart of Nifty has Applied Bollinger Band as well as Parabolic SAR both the indicators are indicating bullish rally in the Market. Time & Price action suggests that, Nifty has to sustain over 9180 area for further rally towards 9240-99280 for the upcoming week. Technically , Bollinger Band Suggest that the Market will move toward new high. Upper Band of Bollinger Band becoming on 9190 to 9200 in Nifty which both surface can be considered as the Near Resistance. If break this level lift the higher Nifty in Near term. 9180-9220 would be Significance Resistance levels for Index and 8980-8946 is Significance Support.
PATTERN FORMATION ( BANK NIFTY )
Detail of Chart - On the Above given daily Chart of Bank Nifty has Applied the Bollinger Band as well as Parabolic SAR. The Bank Nifty Chart is clearly showing up side movement the Upper Band of Bollinger Band indicating Bullish wave in the Market. If the Bank Nifty able to Sustain the 21200 level will move toward 21600-21800 levels. The support for Bank Nifty is at 21120-21000-20950-20850 and the resistance to the up move is at 21250-21380-21500-21720 levels.
NSE EQUITY DAILY LEVELS COMPANY NAME
R2
R1
PP
S1
S2
ACC ADANI PORTS
EQ EQ
1437 331
1423 327
1413 324
1399 320
1389 317
AMBUJACEM ASIAN PAINT AXISBANK BAJAJ-AUTO BANKBARODA BPCL BHEL BHARTIARTL BOSCH LTD BHARTI INFRATEL CIPLA COALINDIA CAIRN INDIA LTD DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK ITC INDUSIND BANK INFY IDEA CELLULAR KOTAKBANK LT M&M MRF MARUTI SUZUKI ONGC NTPC RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SBIN SSLT( VEDL) SUNPHARMA TATA MOTORSDVR TCS TATAMOTORS TATAPOWER TATASTEEL UNIONBANK YES BANK LIMITED ZEEL
EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ
238 1099 521 2975 172 654 173 367 23159 312 607 295 301 2766 382 1065 881 1468 1436 3384 202 915 288 293 1409 1056 116 860 1584 1341 57421 6264 193 162 39 621 1327 604 49 281 271 722 298 2566 490 89 512 159 1554 532
235 1089 517 2944 170 647 171 362 22960 310 601 292 297 2750 380 1052 873 1459 1431 3366 200 909 284 286 1396 1048 111 854 1568 1321 56410 6226 191 160 38 611 1314 592 48 277 267 714 292 2549 483 87 506 156 1531 525
233 1082 514 2917 168 642 170 357 22800 308 597 291 294 2737 378 1041 863 1448 1421 3355 196 904 282 281 1382 1033 109 848 1556 1311 55688 6188 190 159 37 603 1306 585 47 275 264 708 288 2529 477 86 502 154 1517 520
230 1072 510 2886 165 635 168 352 22601 306 591 288 290 2721 374 1028 855 1439 1416 3337 194 898 278 274 1369 1025 104 842 1540 1291 54677 6150 188 157 36 593 1293 573 46 271 260 700 282 2512 470 84 496 151 1494 513
228 1066 507 2859 162 630 165 346 22441 304 587 287 287 2708 372 1017 845 1428 1406 3326 190 893 276 269 1355 1010 102 836 1528 1281 53955 6112 187 156 35 585 1285 566 45 269 257 694 278 2492 464 83 492 149 1480 508
TOP 15 ACHIEVERS SR.NO
PREV CLOSE
SCRIPT NAME
CMP
// % CHANGE
TOP 15 LOOSERS SR.NO
SCRIPT NAME
PREV CLOSE
CMP
% CHANGE
1
ADANI PORTS
298
325
+ 8.90 %
1
BEL
1567
161
- 89.69 %
2
TATA STEEL
467
502
+ 7.37 %
2
RPPINFRA
297
265
- 10.71 %
3
ITC LIMITED
263
281
+ 6.76 %
3
TPLPLASTEH
521
472
- 9.43 %
4
BHEL
158
168
+ 6.67 %
4
STINDIA
17.30
15.80
- 8.67 %
5
HDFC
1373
1451
+ 5.63 %
5
COAL INDLTD
316
289
- 8.55 %
6
TATA POWER
81
86
+ 5.37 %
6
JAYPEE INFR
11.60
10.70
- 7.76 %
7
AUROBIND PHARMA 652
687
+ 5.37 %
7
JAIP ASS
14.95
13.90
- 7.02 %
8
ULTRATEC CEMENT 3852
4039
+ 4.86 %
8
TTML
9.00
8.45
- 6.11 %
9
ASIAN PAINTS
1030
1079
+4.78 %
9
SHEMAROO ENT 413
389
- 5.91 %
10
HINDALCO INDUS
187
196
+ 4.58 %
10
CRISIL
1975
1877
- 4.97 %
11
GRASIM INDUS
999
1041
+ 4.24 %
11
BHARTI AIRTEL
364
346
- 4.95 %
12
L&T
1491
1552
+ 4.09 %
12
REPRO INDIA LTD. 397
381
- 3.94 %
13
MARUTI SUZUKI
5955
6192
+ 3.98 %
13
ONGC
192
190
- 0.90 %
14
BANK OF BARODA
159
164
+ 3.71 %
14
GAIL IND LTD
378
375
- 0.82 %
15
ICICI BANK
270
280
+ 3.71 %
15
TCS
2542
2525
- 0.65 %
1 8 7 6 4 3 0
OPEN INTREST INDEX F&O AND CASH SEGMENT ACTIVITY
NSE - WEEKLY NEWS LETTERS ✍ TOP NEWS OF THE WEEK Arun Jaitley meets FinMin's consultative committee, discusses banks' bad loans - The government is taking sector-specific measures to deal with bad loans, especially the resolution of large debts, and may include setting up of more oversight committees, as initiated by the Reserve Bank of India, for faster settlement of such cases. RBI has made an oversight committee to look into process of cases referred to it by different banks. Seeing the response and its performance, the government is considering multiplication of such committees," finance minister Arun Jaitley told the first meeting of his ministry's consultative committee on Wednesday, which discussed non-performing assets. According to a finance ministry noted statement, Jaitley said the core problem of non-performing assets was with very large companies - although few - mainly in steel, power, textile and core sectors. Corporate debt pie grows by 15 per cent as on December 31 - India’s corporate debt market has grown significantly in the past few years. Total outstanding debt posted a trend growth of 15 per cent to Rs. 106.88 lakh crore as on December 31, 2016, from Rs. 45.31 lakh crore as on March 31, 2011. But most of the issuers are top-rated firms. With limited investor interest, lower rated issuers continue to rely on the banking sector to meet their funding requirements. Such issuers are in the infrastructure and other capital-intensive sectors. Exports jump 17% to $ 24.5 billion in February; trade deficit widens - India’s merchandise exports registered double-digit growth in February for the first time since the Narendra Modi government took office, on the back of a 47% rise in engineering goods and improved international demand. Some analysts say it could be the highest growth witnessed in about five years. Exports swelled by 17.48% in February to $24.5 billion but a steeper increase in imports at 21% widened the trade deficit to $ 8.8 billion — from $ 6.5 billion in the year-ago period. This is the sixth consecutive month of an increase in exports this year but double digits were last seen in June 2014. “In continuation with the revival since September 2016, exports during February for the first time exhibited a double-digit positive growth... Overall, trade balance has improved,” noted a commerce and industry ministry statement. The month saw 23 of 30 exporting sectors, led by iron ore, registering more exports. Governement launches Rs. 600 crore scheme for developing export infrastructure - The government today launched a Rs. 600-crore scheme - TIES - for developing export linked infrastructure in states with a view to promoting outbound shipments. Launched by Commerce
and Industry Minister Nirmala Sitharaman, the Trade Infrastructure for Export Scheme seeks to bridge the infrastructure gap and provide forward and backward linkages to units engaged in trade activities. The scheme, to be implemented from April 1, would have a budgetary allocation of Rs. 600 crore for three years with an annual outlay of Rs. 200 crore. Five per cent of the grant approved would be used for appraisal, review and monitoring. It will be implemented from 2017-18 till 2019-20. Indian economy to pick up once impact of note ban fades: IMF - India's economic growth is expected to pick up once the effects of cash shortages linked to the currency exchange initiative fade, the International Monetary Fund has said. Prime Minister Narendra Modi on November 8 had announced scrapping of old Rs 500 and Rs 1000 notes, pulling out 86 per cent of the total currency in circulation. Noting that India's fiscal deficit is expected to continue narrowing in the Near-Term, the IMF in its note titled 'Global Prospects and Policy Challenges' said, "Further subsidy reduction and tax reforms, including a robust design and full implementation of the Goods and Services Tax, are necessary to attain medium-term fiscal consolidation plans. State election results to facilitate reforms: Moody's - Global credit rating agency Moody's Investor's Service on Wednesday said the recent state election results will facilitate reforms by the BJP led Indian government. In a statement Moody's said the 2017 state election results demonstrate broad-based popular support for the Indian government's policy agenda and will facilitate the implementation of further reforms, a credit positive for the sovereign. Moody's said the Bharatiya Janata Party has made substantial gains in the state elections. As a result, the party will increase its share of seats in the upper house of India's parliament. The ruling party will not feel the benefit of its electoral gains immediately, because the changes in the upper house will only occur next year, when some members retire," said William Foster, a Moody's Vice President and Senior Credit Officer. Retail Inflation increases to 3.65 per cent in Feb, WPI at 6.55 per cent - Firmer food and fuel prices drove India’s overall inflation higher in February, further dimming any possibility of a cut in interest rate by the Reserve Bank of India amid worries of hardening global commodity prices and expectation of vegetables turning dearer as summer approaches. India’s headline inflation rate based on the Consumer Price Index went up to was 3.65 per cent in February compared with 3.17 per cent in January and 5.26 per cent a year ago, data released by statistics office showed on Tuesday. Data released by the commerce and industry ministry showed India’s wholesale inflation firming up to a 39-month high of 6.55 per cent in February from 5.25 per cent in January. The increase in prices may weaken the case for an immediate interest rate cut by the RBI, which had kept lending rates unchanged at the last review in February, citing risks to inflation. The next meeting of the monetary policy committee is scheduled for April 5-6.
Fed rate hike to have minimal impact on RBI policy: India Inc - The interest rate hike by the US Fed is not likely to create much volatility in Indian markets and will have only a minimal impact on the RBI's monetary policy stance, industry bodies said today. Ficci said the monetary policy stance of the RBI is likely to be determined by a host of factors, the Fed rate hike being one of them. "Since Fed rate hike is not expected to create much volatility in the Indian markets, this should have minimal influence on RBI's policy stance," the chamber said in a statement. It hoped that RBI will adopt an accommodative stance in its forthcoming monetary policy, scheduled to be announced on April 6. It also said that the Fed rate hike is not likely to have any significant impact on the Indian economy. While there could be some capital outflows, India is expected to be least impacted amongst the emerging markets," it added. � TOP ECONOMY NEWS
Hitting a 40-month high, India's wholesale inflation rose 6.55% in February led by higher fuel and power prices even as food prices began to rise. Wholesale price inflation had risen 5.25% in January and declined 0.85% in February last year, data released by the commerce and industry ministry showed on Tuesday.
A report by the Comptroller and Auditor General on direct taxes, tabled in Parliament last week, has criticised the Income Tax department for being selective in picking up cases, while ignoring thousands of shell companies engaged in money laundering in the commercial hub of Mumbai which were detected by other enforcement agencies.
The GDP data based on 2011-12 base year does not reflect the momentum of economic activities across the spectrum and a more realistic methodology is required, says a Parliamentary panel. The Parliamentary Standing Committee on Finance in its report on the Statistics Ministry tabled in Parliament also pointed out that several experts have expressed the possibility of over estimation of GDP for 2016-17 in the wake of demonetisation.
Currency in circulation has risen 13.5% in one month between February 10 and March 10 and is at Rs. 12.46 lakh crore as of March 10, according to latest Reserve Bank of India data. Even as normalcy was expected by February end, at the current levels, the total currency in circulation is at 70% of the early November levels before the Reserve Bank of India banned Rs. 500 and Rs. 1000 notes as legal currency.
The government has issued revised demand-cum-show cause notices for Rs. 30,776 crore to 6 telecom firms for under-reporting revenues in four fiscal's up to 2009-10, Parliament was
informed. Department of Telecom revised and issued demand cum show cause notices to six Telecom service providers for a total amount of Rs 30,776 crore (Rs 29,474 crore as licence fee and Rs 1,302 crore as spectrum usage charges), Telecom Minister Manoj Sinha said in a written reply to Lok Sabha.
The GST Council is likely to endorse tomorrow supplementary legislations needed for implementation of the Goods and Service Tax regime. The Council, headed by Finance Minister Arun Jaitley and comprising representatives of all states, may also take up capping the cess to be levied on demerit goods like luxury cars and tobacco products for creation of a corpus that will be used for compensating states for any loss of revenue from GST implementation in the first five years.
Divergence in movements of wholesale prices and retail prices explains non-alignment of manufacturing output Gross Domestic Product with the Index of Industrial Production , a report by ratings firm Crisil said.
The Goods and Services Tax Council on Thursday capped the proposed cess on aerated drinks and luxury Automobiles at 15% and 290% on cigarettes and also approved the State GST and Union Territory GST laws.
The telecom regulator is reviewing “procedural issues” in the sector to make it more business friendly, its chairman said. “In the consultation paper floated by us on March 14, we are looking at the procedural and not the policy issues,” Telecom Regulatory Authority of India’s RS Sharma said.
A Parliamentary panel has suggested the government to tread with caution in strategic divestment and shutting down sick public sector units and also asked it to provide reasonable and financially prudent chances for their revival. In its report, the Department Related Parliamentary Standing Committee on Industry said it is always prudent to keep in mind that Central Public Sector Enterprises are also meant to serve certain larger social causes.
The interest rate hike by the US Fed is not likely to create much volatility in Indian markets and will have only a minimal impact on the RBI's monetary policy stance, industry bodies said.
� TOP CORPORATE NEWS Reliance Group company, Reliance Capital Limited is planning to separate out its retail Health Insurance business, into a standalone, wholly owned subsidiary of its General Insurance business. Manpasand Beverages Limited, one of India’s leading fruit juice players, is aggressively expanding its reach in Tamil Nadu to take advantage of the ongoing cola ban in the state. HCL Technologies Limited company on Wednesday announced that it will be considering buy back of its shares. The board of directors of the company are going to meet on March 20 to consider a proposal for buyback of the equity shares. In order to counter Reliance Jio, Idea Cellular Limited has partnered with Itel to provide Indian telecom users1GB of free data every month for 6 months. The offer can be availed on selected smartphones by Itel only. Prabhat Dairy Limited promoters have increased their stake in the company by 4.57% to 45.49%. The promoters through creeping acquisition in the last two months have increased their stake. The promoters owned, Nirmal Family Trust has acquired 44.72 lakh shares for about Rs. 58 crore. The crude steel production of JSW Steel Limited went up nearly 25% to 12.65 lakh tonnes in February month as compared 10.13 lakh tonnes in the month of February last year. Flat rolled steel products in February month soared 23.1% to 8.96 lakh tonnes as against 7.28 lakh tonnes in the month of February last year. Wipro Limited has announced that the company has bagged a 12 year contract from NHS Scotland. The contract is to build a next generation Enterprise Master Patient Index solution. The Information Technology giant is partnering with NextGate to enable the eMPI solution in Scotland. Pharma majors, Alkem Laboratories Limited jumped over 3% on Wednesday, after getting approval from US FDA. The US drug regulator approved the Exemestane tablets of Mylan, which is a partner of Biocon. These tablets are used to treat breast cancer. Whereas, the regulator gave a nod for Lidocaine ointment of Alkem Labs, which is used to treat ventricular tachycardia.
The Bharat Heavy Electricals Limited has commenced commercial operation of 800 MW unit- highest rated coal based thermal plant. The milestone was achieved for the first unit of Yeramarus thermal power station of Raichur Power Corporation in Karnataka. IndusInd Bank Limited has informed that it will acquire 100% stake in Infrastructure Leasing and Financial Services. IndusInd Bank is already one of the strong players in the capital market business, with a client base of more than 500 brokers. Telecom operator Bharti Airtel Limited has shelved plans to sell controlling stake in its mobile tower arm Bharti Infratel but has decided to monetise 21.63 per cent equity in the company. Kalpataru Power Transmission Limited, which has so far enjoyed a strong foothold in engineering jobs for the power transmission sector, is scaling up its business in pipeline and railways-related jobs to offset the slowdown in domestic orders. The company expects to grow at 15-20 per cent with operating margins of around 11 per cent in the current fiscal to March and in the next year 2017-18. Larsen & Toubro's electrical and automation unit has bagged an order worth Rs 500 crore Qatar Rail Company for Phase 1 of Doha Metro, the engineering major said in a release on Thursday. Indian multinational oil and gas company head quartered in Dehradun, Oil and Natural Gas Corporation Limited will invest over Rs. 21500 crore to develop India’s deepest gas discovery by 2022-23. Lupin Limited announced today the launch of Mibelas™ 24 Fe (Norethindrone Acetate and Ethinyl Estradiol Chewable Tablets, 1 mg/0.02 mg and Ferrous Fumarate Tablets, 75 mg) having received an approval from the USFDA.
Kalpataru Power Transmission to offset the slowdown in domestic orders the company is scaling up its business in the pipeline and railways-related jobs. The company so far for the power sector enjoyed a strong foothold in engineering jobs. A growth of 15-20% is expected with operating margins of nearly 11% in the current fiscal to March and in the next year 2017-18.
� TOP BANKING AND FINANCIAL NEWS OF THE WEEK
As the Indian regulatory environment gets stricter by the day, there is need to get the balance right with respect to the intersection of board and management for handling future changes Arundhati Bhattacharya, Chairman, State Bank of India said.
The government is expected to initiate reforms in the financial sector soon, starting with merger of Bharatiya Mahila Bank with State Bank of India, India’s largest lender. Other key decisions that may be unveiled over the next 2-3 months include new capital infusion parameters for 2017-18, a consolidation road map for state-run banks and insurance firms and steps to resolve stressed assets.
Bad loans of public sector banks rose by over Rs. 1 lakh crore during April-December period of 2016-17, the bulk of which came from power, steel, road infrastructure and textiles sectors. Public sector banks' gross bad loans stood at Rs 5,02,068 crore at the end of 2015-16.
State
Bank of India chairperson Arundhati Bhattacharya blamed the governance at Public
Sector Banks for poor investor appetite for them and their resultant inability to raise cheaper funds from markets.
Five public sector banks have been permitted by the government to raise Rs. 949.27 crore from the markets. Allahabad Bank, United Bank, Bank of India, UCO Bank and Central Bank are the banks which are to raise Rs. 949.27 crore via preferential shares from markets, said the Minister of State Finance, Santosh Kumar Gangwar, in a written reply to the Rajya Sabha.
Banks
Board Bureau chairman Vinod Rai wrote a strongly worded letter to the Finance
Ministry and the Prime Minister's Office highlighting the lack of action by banks on bad loans and suggesting a possible way ahead, said two officials with knowledge of the matter. The letters were sent earlier this month after a meeting on bad loans at the PMO that was also attended by Rai.
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