TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - NIFTY - Last Trading session of previous week Nifty 50 fell by 0.52%, the index opened at 9226 made high of 9246 and closed at 9151 after making low of 9145. As Government released Industrial production data for the month of Feb at - 1.20% where expectation was 1.3% and January IIP Numbers were at 2.70%. Consumer price index for the Month of March released at 3.81% where Expectation was at 3.98% and February Consumer Price Index was at 3.65%. Nifty closed in negative territory for the third consecutive day at 9139 after making a low of 9120. The Index opened at 9145 on Monday trading session and made a high of 9160. As of Now Market may also look into Indian Meteorological Department first official Forecast about Trajectory of Monsoon this Year. Any forecast of deficient Rainfall because of looming Threat for EI-Nino may also Spoil the Bull Party in the Coming days. Indian Meteorological Department released its Long Period Average first stage data in which the department has predicted normal monsoon in Southwest. The World Bank & IMF predicted tepid GDP Growth for India in FY-18 as 7.2% on the back of Demonetization / Full Remonetization concerns, Stressed Banking Non-Performing Assets , PSBS recapitalization issues, tepid loan growth, issues of stressed corporates, and lack of vital policy / Reforms implementations in a time bound manner These all are the trigger for the Market in near term. The benchmark Index Nifty 50 on Wednesday traded in narrow range of 45 points, the Index opened at 9112 and made a high of 9120 and closed at 9104 after making a low of 9075. on the back of Donald Trump has signed an executive order on stricter enforcement & review of H1B visa - this visa has been used by the technology industry to bring "highly skilled" foreign workers into the US, thus giving them a price advantage. Most of the sessions was very range bound in the absence of any major fresh Domestic or Global triggers in this week. Some Regulatory Concern on Chinese stock Market, mixed set of Quarterly Earnings & Political Uncertainty over french and British election would be main trigger for the Market in upcoming week trading sessions. The Nifty to trade in bullish trend 9220 would be the important level for Index break above can witness the 9300-9360 levels. on the Fillip side Sustaining below 9180 may drag the Index towards 9008-8916 in Near Term.
BANK NIFTY : - Bank Nifty last week made new record high of 21787 and closed at 21687, the index made a low of 21396 and traded in a narrow Range of 167 points from high of 21743 and low of 21577. Bank Nifty closed at 21647. From last two weeks the Bank Nifty has rallied almost 700-890 points and made a high of 21947 on Tuesday trading session. The Public Sector Bank’s were in demand on the hopes of an earnings recovery and Reports of more Public Sector Bank’s consolidations after State Bank of India merger, though it’s still at very Preliminary Discussion Stage. Market is expecting an effective Resolution of Stressed Assets & Consolidation of Public Sector Bank’s in the coming days and along with that, hopes of a good Q4FY17 report card may be the prime reasons for such strength in Bank Nifty, although looking quite stretched valuation. Indian market sentiment was further boosted after some reports of an imminent Net Performing Assets policy announcement by the Government PSBS rallied quite smartly on the buzz. But, later RBI Dy Gov confirmed that it may take some more time for a definitive new NPA policy; meanwhile RBI will do more oversight or implementation of various existing NPA resolution mechanism. Bank Nifty to trade in 21330-21780 range. The Significance Support is 21260-20880 and Resistance is 21704-21988 for Bank Nifty. Monday, 24 April 2017
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
WEEKLY
MONTHLY
R2
R1
PP
S1
S2
9401
9215
9122
9029
8843
R2
R1
PP
S1
S2
9556
9272
9130
8988
8704
R2
R1
PP
S1
S2
9744
9348
9150
8952
8556
R2
R1
PP
S1
S2
22148
21704
21482
21260
20816
R2
R1
PP
S1
S2
23267
22155
21599
21043
19931
R2
R1
PP
S1
S2
23269
22157
21601
21045
19933
BANK NIFTY DAILY
WEEKLY
MONTHLY
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
NIFTY
9131
8988
8797
8587
BANK NIFTY
21416
20903
20252
19465
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
9269
8992
8371
BANK NIFTY
21937
20474
18051
200 DAYS
PATTERN FORMATION ( NIFTY )
Detail of Chart - On the Above given daily Chart of Nifty has Applied Bollinger Band and Parabolic SAR both are the leading indicators. One Long Unwinding is seen in Nifty at higher levels on Friday. In daily chart you can see that Nifty broke the Middle Ban which is around its crucial Support level of 9150, good support now is near 9120. This can be start of down trend on intraday chart chart. There are 2 important supports for Nifty near 9100 and 8960 apart from the current level at 9120.
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.On the Above Given Intraday Chart of Bank Nifty which shows that the Index is trading near its crucial Support level of 21500 if it is able to Sustain current Support level we may witness some upward movement in the upcoming week. The Bank Nifty Daily Chart is Showing sideways movement in the Index, While the Index has to Sustain above 21500 level for further up movement toward 21670-21780, On the Fillip side Sustaining below 21500 level will drag the index 21440-21320 in near Term.
NSE EQUITY DAILY LEVELS COMPANY NAME
R2
R1
PP
S1
S2
ACC ADANI PORTS
EQ EQ
1520 339
1507 333
1497 328
1484 322
1474 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
242 1082 503 2856 182 732 179 349 22825 361 579 283 290 2645 414 1161 828 1543 1527 3230 193 929 276 286 1450 939 88 907 1708 1289 64180 6355 183 170 36 622 1444 590 50 291 238 667 275 2350 453 87 464 160 1581 541
241 1075 495 2840 179 723 176 345 22600 356 571 280 288 2627 406 1144 820 1523 1512 3217 190 918 272 280 1443 931 87 897 1694 1282 63851 6313 182 168 35 615 1425 582 49 286 235 653 272 2331 446 86 457 159 1562 534
239 1065 489 2827 176 719 174 343 22466 350 567 279 286 2617 402 1134 814 1507 1482 3204 187 913 270 276 1436 926 85 887 1687 1268 63430 6248 180 166 35 609 1401 577 48 283 232 644 271 2316 442 84 453 156 1543 530
238 1058 481 2811 173 710 171 339 22241 345 559 276 284 2599 394 1117 806 1487 1467 3191 184 902 266 270 1429 918 84 877 1673 1261 62680 6206 179 164 34 602 1382 569 47 280 229 630 268 2297 435 83 446 155 1524 523
236 1048 475 2798 170 706 169 337 22107 339 555 275 282 2589 390 1107 800 1471 1437 3178 181 897 264 266 1422 913 82 867 1666 1247 61180 6141 177 162 34 596 1358 564 46 278 226 621 267 2282 431 81 442 152 1505 519
TOP 15 ACHIEVERS SR.NO
SCRIPT NAME
//
PREV CLOSE
CMP
% CHANGE
TOP 15 LOOSERS SR.NO
SCRIPT NAME
PREV CLOSE
CMP
% CHANGE
1
GRASIM INDUS
1050
1129
+ 7.53 %
1
SUN PHARMA
692
639
- 7.67 %
2
GAIL LIMITED
379
399
+ 5.21 %
2
ICICIBANK LTD
282
269
- 4.83 %
3
HDFC BANK
1440
1496
+ 3.91 %
3
COALIN LIMITED
291
277
- 4.83 %
4
INDIABULLS
956
989
+ 3.46 %
4
YESBANK LTD
1616
1544
- 4.47 %
5
POWER GRID CORP
200
205
+ 2.80 %
5
AXIS BANK LTD
507
486
- 4.20 %
6
RELIANCE
1364
1402
+ 2.76 %
6
AURO PHARMA
658
633
- 3.78 %
7
HINDALCO
183
188
+ 2.65 %
7
BOSC LIMITED
23272
22406
- 3.72 %
8
HDFC
1474
1507
+ 2.21 %
8
SBIN
291
282
- 3.21 %
9
MARUTI SUZUKI
6077
6185
+ 1.77 %
9
TATA MOTORS
453
440
- 2.81 %
10
ADANI PORTS
320
326
+ 1.73 %
10
TATA STEEL
463
450
- 2.74 %
11
NTPC LIMITED
164
167
+ 1.55 %
11
ONGC
184
180
- 2.46 %
12
ZEEL
521
528
+ 1.35 %
12
AMBUJA CEMENT
245
239
- 2.37 %
13
BHARTI AIRTEL
340
342
+ 0.75 %
13
CIPLA LIMITED
577
564
- 2.22 %
14
IOC
422
425
+ 0.56 %
14
BPCL
731
715
- 2.09 %
15
L&T LIMITED
1678
1687
+ 0.53 %
15
HUL
923
906
- 1.89 %
4 4 3 3 2 2 2
OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY
NSE - WEEKLY NEWS LETTERS ✍ TOP NEWS OF THE WEEK Paris replacing Mauritius as tax haven, Citi alerts Finance Ministry - Citi, once perceived as a master in regulatory arbitrage, has drawn the Government’s attention to Paris emerging as a new tax haven with Mauritius losing its charm. In a recent meeting with officials of the finance ministry, Citi pointed out how some global banks and funds are taking advantage of India’s treaty with France to escape tax, sources in the financial market told. In the past few months, a few leading Foreign Portfolio Investors have set up shop in Paris to attract offshore investors and issue participatory notes derivatives sold to foreign investors keen to trade in Indian stocks. Till March 31, Mauritius was the preferred location to carry out such business. But this changed with the revision in the tax treaty between India and Mauritius: there will be capital gains tax on Indian securities bought by any Mauritius entity on or after April 1. Modi government's GST reform an 'act of courage': IMF chief - Describing the ongoing Goods and Services Tax reform as an "act of courage", IMF chief Christine Lagarde today said she expects "some positive outcome" as a result of the decision. The GST reform is really an act of courage," Lagarde told reporters during the annual Spring meeting of the International Monetary Fund and the World Bank. It really means reforming in-depth in each of the Indian States in order to substitute the State taxes with overall federal tax, the re-allocation of it and the digital platform that supports it, she said. So, I am personally impressed by the work that is being done in that regard and expect some positive outcome. CPI Inflation Seen at 4.8% in FY18, fears exaggerated: Report - Retail Inflation is expected at 4.8 per cent for the current fiscal and fears in this regard are exaggerated as the country will continue to witness benign prices, says a report. According to Report Ecowrap, The Reserve Bank's inflation forecast of 4-4.5 per cent will be "materially undershot" as CPI inflation is unlikely to breach the 4 per cent mark till July this year. According to official data, inflation at the wholesale level eased to 5.7 per cent in March on declining fuel prices and appreciating rupee. "The decline was accentuated by decline in fuel and power inflation and manufactured products. It may be Noted that fuel prices were significantly cut on March 31, while the rupee has been on an appreciating trend since February 2017. These two factors have pushed down fuel and manufactured product prices," it said. Economy to grow 7.2% in FY18; GST to have positive impact: World Bank - Having seen a "modest setback" due to demonetisation last fiscal, the Indian economy will claw back to 7.2 per
cent growth this financial year and rise further to 7.5 per cent in 2018-19, says a World Bank report. In its report on South Asian Economy, the World Bank said that "significant risks" to economic growth could emanate from fallout of demonetisation on small and informal economy, stress in the financial sector and uncertainty in global environment. Also, a rapid increase in oil and other commodity prices could have a negative implication for the economy, it added. The country's economic growth is expected to see an uptick at 7.2 per cent this fiscal and further accelerate to 7.5 per cent in 2018-19, the report said. India's fastest-growing economy tag faces no risk from China anytime soon, confirms IMF India will not have to surrender its fastest growing major economy tag to China in the near future and will record slightly higher growth rate than its bigger neighbour for last year despite a slowdown due to demonetisation, International Monetary Fund says. World Economic Outlook, the fund's flagship publication, has revised upwards India's growth forecast for FY17 to 6.8 per cent, just ahead of China's 6.7 per cent for 2016 calendar. IMF has retained its India growth forecast for FY18 at 7.2 per cent and FY19 at 7.7 per cent, well ahead of its forecast for China. India back on fiscal consolidation due to less fuel subsidies and targeted social schemes: IMF - Notwithstanding the impact of demonetisation, India returned to fiscal consolidation in the fiscal year 2016-17 largely due to the near-elimination of fuel subsidies and enhanced targeting of social benefits, the IMF said today. India returned to fiscal consolidation in fiscal year 2016/17, supported by the near-elimination of fuel subsidies and enhanced targeting of social benefits, notwithstanding the deceleration in growth related to the country's recent currency exchange initiative," the IMF said in its report on Fiscal Monitor released on the sidelines of the annual Spring Meeting of the International Monetary Fund and the World Bank. The IMF said, in India, the headline deficit is projected to decline modestly in fiscal year 2017/18, with continued delay in reaching the medium-term deficit target. � TOP ECONOMY NEWS
The last fiscal witnessed a modest setback due to demonetisation, but the Indian economy in this financial year will claw back to 7.2% and in 2018-19 will rise even more to 7.5%, according to the World Bank report.
The Finance Ministry has decided to push the Public Sector Banks to raise the funds through the route of capital markets, As per the Indradhanush plan. There are at least six Public-Sector Banks on the radar of Finance Ministry for their recapitalization through tapping of capital Markets. The Public-Sector Banks have been the major drivers to execute various schemes of the government so that reaches out to maximum population.
All the businesses including small scale Enterprises and Big Multi-National Companies are buckling up to welcome the Unified Tax Regime, Goods and Services Tax in the country. The companies are preparing themselves to adhere to the new tax regime. The Goods and Service Tax Consultancy Services are high on demand. The GST rollout is likely to be from 1 July, 2017.
International Monetary Fund has kept its forecast for India’s economic growth in 2017-18 at 7.2% Slightly higher than 7.1% officially projected. Although the growth rate was as same as being projected by IMF in Jan, it was lowered to 40 basis points from 7.6% forecast in the month of October, mainly due to the demonetisation drive initiated by the government.
Everyone’s eyes were set on the first monsoon forecast by the India Meteorological Department. However, the India Meteorological Department sees an increased probability of El Nino from August 2017. The Meteorological Department is going to issue monthly forecast in the month of June 2017. The IMD believes that the rain distribution would be even throughout the country. India is likely to witness good monsoon in 2017 approximately at the rate of 96% with modal error of plus or minus 5%. There is nearly 38% probability of mere normal rainfall in India in 2017.
Foreign Direct Investment made by Indian companies in their overseas business projects has Reportedly jumped over two-fold to $ 2.99 billion last month. Investments made by these companies in March this year were much higher than February, at $ 867.53 million as mentioned in a national news portal.
India has jumped one spot to 8th rank in the 2017 A.T. Kearney Foreign Direct Investment Confidence Index. Governance and regulatory issues made up 7 of the top-10 factors that investors consider when deciding on an investment destination according to the report. Last year factors such as domestic market size and cost of labour were the top issues for investors.
The Reserve Bank of India's revision in the prompt corrective action framework for the banks is a positive and a welcome step, given the operating and financial profile of some of the banks,� said the credit rating agency ICRA in a release on Wednesday.
Participatory notes, which are mainly used for investments in domestic capital markets, at the end of March, despite SEBI putting tough norms to curb inflow of illegal funds, have notably surged to 4-month high of Rs 1.78 lakh crore.
The Reserve Bank of India released minutes of the Monetary Policy Committee meeting held during April 5, 2017 to April 6, 2017 on Thursday. The MPC debate indicated the threat of inflation is back in action. It also signals interest rate hike is likely to come in near future.
This is the genesis of an era when major economies of the world are acting defensive. They are fencing their economies with stricter rules to arrest the erosion of jobs from their domestic market.
The International Monetary Fund which works for the Global Monetary Co-operation has alerted the Indian corporates that their balance sheets would be hit harder if the protectionism in the world rises.
The investments by private equity and venture capital firms have seen a dip in the first quarter of this year, both in terms of value and volumes at $ 3.04 billion through 238 deals respectively, from $ 4.19 billion in 432 deals, as mentioned in a national news portal.
India is planning a significant shift toward a litigation-free environment under the GST regime, creating a liberal mechanism that would allow all taxpayers to ascertain liabilities beforehand. The draft rules for advance ruling mechanism will allow all categories of taxpayers to approach the authority, unlike the existing system that restricts the facility to proposed transactions before the start of a business. . ✍ TOP CORPORATE NEWS A consortium of Construction and Engineering service provider company, RPP Infra Projects Limited and Siemens Limited has received the order from Power Grid Company of Bangladesh. Jain Irrigation Systems Limited on Wednesday announced that the company via its wholly owned subsidiary in the United States of America has agreed to acquire 80% stakes in 2 US entities. The two entities of the Unites States, which are the largest micro-irrigation dealers, Irrigation Design and Construction Inc. IDC and Agri-Valley Irrigation Inc., have entered into an agreement to merge ownership of their business into a newly formed distribution company. SPML Infra Limited, infrastructure development compnay’s share sizzled 3.6% on Wednesday’s trading session as the company said that it has substantially completed a crucial irrigation project in Gujarat.
Pharma major Jubilant Life Sciences Limited said that it has raised Rs. 100 crore through issuing commercial papers. Commercial paper is an unsecured money market instrument issued in the form of a promissory note. Satin Creditcare Network Limited has incorporated a wholly owned subsidiary, Satin Housing Finance Limited on April 17, 2017. The company has been formed to carry on the business of housing finance. The subsidiary will file application with National Housing Board for registration/license to carry the business of housing finance. Reliance Industries Limited announced that it has successfully completed its ethane project including commissioning of its ethane Receipt & handling facilities and ethane cracking at its Dahej Manufacturing facility in Gujarat in a record time of less than 3 years, as mentioned in a BSE filing. Pharma major Glenmark Pharmaceutical Limited has received tentative approval from the United States Food & Drug Administration to sell Pradaxa Drug used to prevent blood clots. India's fifth largest private sector Bank, Yes Bank Limited, has posted rise in bad loans in the quarter ended March 2017, over the previous quarter. The bank’s net profit increased 30.2% to Rs. 914.10 crore on 29.4% rise in total income to Rs. 5606.38 crore in Q4 March 2017 over Q4 March 2016. The Real Estate major Godrej Properties Limited, to pare a significant portion of it’s debt, is Planning to sell some of its office assets to raise the Fund around Rs. 100 crore. The Company has been Among the country’s developers in Terms of Sales and Delivery even during the prolonged slowdown. ITC Limited One of the FMCG giant, is planning to take aggressive steps to surpass its peers, Nestle and Britannia and become the incumbent player in the FMCG industry. IndusInd Bank Limited Reported its standalone Q4FY17 results. Bank reported the miss versus street estimates. Net profit for the quarter came 16.1% down versus street estimates of Rs.896 crore. However, Net Interest Income for the quarter rose 4.6% vs estimates of Rs.1594 crore. Alembic Pharmaceuticals Limited drug major received tentative approval from USFDA for Vilazodone Hydrochloride tablets.
The National Company Law Tribunal approved the merger for India Cement Limited with its two subsidiaries Trinetra Cement & Trishul Concrete are the two subsidiaries which are to be merged. Suzlon Energy Limited, the renewable energy solutions provider, has received its fifth successive order from ReNew Power Ventures Pvt. Ltd., for its 100.80 MW wind power project. DHFL Limited completely shunned the report of selling around 80% stake in its Aadhar Housing Finance Limited reported in a leading business daily. A state-owned Non-Banking Financial company, Rural Electrification Corp, plans to lend nearly Rs. 10,000 crore to clean-energy projects and equipment manufacturers, this fiscal. The aim is to triple its clean-energy lending and expand its footprints into renewable energy. Jain Irrigation Systems Limited has been awarded the Poorigali Integrated Micro Irrigation Project by Cauvery Neeravari Nigam Ltd., Government of Karnataka through national competitive bidding. The irrigation project is based on the concept-“Resource to Root” globally pioneered and promoted by Jain Irrigation which will deliver “ More Crop Per Drop” to the farmers. ✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK
The government is working on a road map for the overhaul of state-run lenders that involves the next round of consolidation, public offers in the next few months by banks to raise fresh capital, and changes in the hiring policy, including increased lateral entry. This could see Punjab National Bank and Bank of Baroda taking over smaller lenders, said a senior finance ministry official. State Bank of India said steep decline in credit growth, which hit a Multi-decadal low in 201617 despite the economy clipping at around 7 per cent, suggests decoupling of credit growth and GDP. While the Asset Quality Review Guideline of Reserve Bank of India that was implemented from September 2015 lead to higher recognition of bad Assets and lower profitability in the fiscal year 2015-2016 for most banks, the latest RBI circular may reveal more bad news for the industry.
Profitability of banks, particularly large ones will be under pressure in the quarter ended March 2017 due to higher provisions as Reserve Bank of India stepped up efforts in identifying and dealing with suspect corporate loans, analysts said. Large banks like Axis Bank, ICICI Bank and State Bank of India, which were just recovering from the RBI’s asset quality review a year ago, will likely set aside a higher amount than previously anticipated as some loans would have to be classified as non-performing.
The last Monetary Policy Committee debate indicates that the six member group is moving more towards an interest rate increase in the next few quarters, though not in the near future, as threat of inflation shooting past target due to house rent allowance payment to government, the minutes show.
The Reserve Bank of India’s recent move to tighten prompt corrective action framework is positive for the banking sector given the operating and financial profile of banks, said a rating company Icra said in a report.
Reserve Bank of India updated `prompt corrective action' rules can potentially impact more than half of the NPA-laden state-run banks, a Report said
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