Equity research report 27 november 2017 ways2capital

TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - Nifty futures and bank nifty future market closed at 10366./ 25770. according to technical analysis if nifty futures and bank nifty future moves up-word in upcoming treading sessions then 10400/ 25800 will be next resistance level, if it break this level then nifty futures and bank nifty future can touch 10530 / 26000 level . it will be hard resistance. meanwhile in reveres there is support on 10300/ 25650 for nifty futures and bank nifty future after breaking this support with volume there is big support for nifty futures and bank nifty future on 10100/25000 .

Monday, 27 Nov 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

10591

10434

10355

10277

10119

R2

R1

PP

S1

S2

11012

10518

10270

10022

9526

R2

R1

PP

S1

S2

11904

10770

10204

9638

8504

R2

R1

PP

S1

S2

223604

25938

25755

25573

25206

R2

R1

PP

S1

S2

27828

26400

25685

24970

23540

R2

R1

PP

S1

S2

28452

25947

24695

23442

20936

BANK NIFTY DAILY

WEEKLY

MONTHLY

MOVING AVERAGE 21 DAYS

50 DAYS

100 DAYS 200 DAYS

NIFTY

10357

10188

10050

9658

BANK NIFTY

25504

24894

24604

23306

PARABOLIC SAR

DAILY WEEKLY MONTHLY

NIFTY

10035

9044

7615

BANK NIFTY

24554

21020

16022

PATTERN FORMATION ( NIFTY )

Details of Chart - Last week nifty future open at 10297 and made high of 10414 and low of 10277.moves almost 160 point showing its bullish trend. next support for nifty is 10400 ,which nifty alreday break and sustain on this level. from this level of 10400 nifty can continue moves in uptrend technical pattern bullish engulfing also suggest its uptrend.nifty can made its new life time high

PATTERN FORMATION ( BANK NIFTY )

Detail of chart - Last week bank nifty future open at 25731 and made high of 25886 and low of 25770 ,showing its consolidate move but bank nifty sustain the levl of 25800. from this level it can go further in upside direction and move upto 26200 which is its nextresistance

NSE EQUITY DAILY LEVELS COMPANY

R3

R2

R1

PP

S1

S2

S3

ADANIPORTS NAME AMBUJACEM ASIANPAINT

EQ EQ EQ

442 283 1222

424 274 1192

415 270 1177

407 265 1162

397 261 1147

390 257 1133

372 248 1103

AUROPHARMA AXISBANK BAJAJ-AUTO BAJFINANCE BHARTIARTL BOSCHLTD BPCL CIPLA COALINDIA DRREDDY EICHERMOT GAIL HCLTECH HDFC HDFCBANK HEROMOTOC HINDALCO O HINDPETRO HINDUNILVR IBULHSGFIN ICICIBANK INDUSINDBK INFRATEL INFY IOC ITC KOTAKBANK LT LUPIN M&M MARUTI NTPC ONGC POWERGRID RELIANCE SBIN SUNPHARMA TATAMOTORS TATASTEEL TCS TECHM ULTRACEMCO UPL VEDL WIPRO YESBANK 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

765 570 3490 1936 531 20422 539 654 301 2791 32383 498 911 1784 1899 3800 286 469 1332 1284 332 1782 408 1114 411 272 1099 1272 883 1496 8753 195 190 223 1017 358 611 448 743 2775 533 4473 803 340 308 335 629

737 557 3392 1861 516 19784 524 635 287 2573 31515 483 882 1746 1875 3735 271 448 1300 1231 325 1720 394 1055 403 265 1065 1247 859 1462 8614 189 185 216 981 346 575 438 726 2732 512 4342 774 324 301 324 592

727 551 3338 1823 506 19392 517 626 280 2432 31158 477 871 1730 1866 3696 261 439 1283 1201 321 1695 388 1032 399 263 1047 1235 844 1449 8550 185 183 214 966 339 562 432 717 2710 503 4293 759 315 297 318 578

708 544 3294 1785 500 19146 508 617 274 2354 30646 467 853 1708 1851 3671 256 426 1268 1178 318 1658 380 996 395 259 1032 1223 835 1428 8475 182 181 210 945 333 538 427 710 2688 491 4210 745 309 294 313 555

698 538 3240 1747 490 18754 502 608 266 2214 30290 461 842 1692 1842 3631 246 417 1251 1148 314 1633 374 972 391 257 1014 1211 820 1415 8411 178 179 207 930 326 526 421 701 2666 482 4161 730 300 290 307 541

680 530 3196 1709 484 18508 493 598 261 2135 29778 451 824 1670 1827 3606 240 404 1236 1125 311 1596 367 937 387 253 998 1199 810 1395 8336 175 176 203 909 320 502 416 693 2644 470 4079 716 294 287 302 518

651 517 3098 1633 468 17870 478 579 248 1916 28910 435 794 1633 1803 3541 225 382 1204 1072 304 1534 353 877 379 247 965 1175 786 1361 8197 168 172 196 873 308 465 406 677 2601 449 3948 687 278 280 291 481

TOP 15 ACHIEVERS SR.NO

SCRIPT NAME

PREV CLOSE

// CMP

% CHANGE

TOP 15 LOOSERS SR.NO

SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

SUNPHARAM

517.10

549.50

+6.27

1

AMBUJACEM LTD

274.50

264.95

-3.48

2

DAIL ( INDIA ) LTD

444.75

471.05

+5.91

2

HINDLACO INDUS

258.85

251.65

-2.78

3

ZEE ENT

535.50

564.15

+5.35

3

ICICI BANK

325.10

317.20

-2.43

4

REALIANCE INDUS

911.90

951.10

+4.30

4

SBI

337.50

332.40

-1.51

5

INFOSYS

970.95

1009.55

+3.98

5

DR REDDY LABS

2322.60

2295.05

-1.19

6

HIND PETROL

414.80

430.30

+3.75

6

INDBULLS HO FIN

1184

1171.65

-1.04

7

UPL

724.20

744.05

+2.74

7

ASIANPAINTS

1171.30

1159.60

-1.00

8

INDUSIND BANK

1631.90

1676.30

+2.72

8

LTD HINDUS UNILEV

1278.15

1265.95

-0.95

9

BAJAJ AUTO FUT

3206.85

3288.30

+2.54

9

WIPRO LTD

295.15

292.70

-0.83

10

YES BANK LTD

306.10

313.05

+2.27

10

TATA CONSULT

2707.30

2688.05

-0.71

11

HCL TECH

840

858.40

+2.19

11

ULTRA

4267.05

4241.30

-0.60

12

TECH MAHI LTD

484.55

494.10

+1.97

12

CEM VEDANTA

307.60

305.90

-0.55

13

ONGC

177.60

181

+1.91

13

COAL INDIA LTD

272.80

271.50

-0.48

14

MARUTI SUZUKI

8348.35

8487.95

+1.67

14

L AND T

1222.80

1218.50

-0.35

15

NTPC

177.55

180.30

+1.55

15

BOSCH LTD

18965.90

18957.35

-0.05

AM 204 BUJ A CEM ENT

TECH

232

+13.67 %

AMBUJA CEMENT

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS) NSE FUTURE

NSE FUTURE : BUY TITAN FUTURE ABOVE 812 TGT 820 SL 808 NSE FUTURE : BUY SIEMENS FUTURE ABOVE 1200 TGT 1250 SL 1188

NSE CASH

NSE CASH : BUY ABFRL CASH ABOVE 168 TGT 178 SL 160

NSE CASH : BUY HDFC LIFE CASH ABOVE 383 TGT 400 SL 370

NSE - WEEKLY NEWS LETTERS � TOP NEWS OF THE WEEK

SIEMENS Q4FY17 STANDALONE NET PROFIT DECLINES 74.1% YOY Standalone Results Q4FY17: (Rs. in crore) Q2FY18

YOY( %)

REVENUE

3142

2.40

EBITDA

317

14.90

EBITDA MARGIN (%)

10.10

153

NET PROFIT

457

74.10

Siemens standalone revenue for the quarter came in at Rs. 3142 crore, registering 2.4% yoy decline. This was primarily driven by 15% and 25% yoy decline in revenues from Power and Gas and Mobility segment. EBITDA for the quarter rose by 14.9% yoy to Rs. 317 crore with a corresponding margin expansion of 152 bps. EBITDA margin for the quarter stood at 10.1%.

This margin expansion was aided by 3% and 10% yoy decline in Purchase of stock in trade and net other expenses. The adjusted PAT for the quarter came in at Rs. 457 crore, yoy decline of 74.1%. This was due to 9% yoy increase in depreciation. Also rise in effective tax rate to 30% from 24% in corresponding quarter last year contributed to the same. Looking at the full year numbers, we see that revenue jumped by 1% to reach Rs.11348.3 crore, while EBITDA rose by 3% to 1051.24 crore. Company reported net profit of Rs.1133.57 crore, down 61% yoy.

Company reported exceptional gain of Rs.567 crore which is inclusive of impairment loss on certain assessment, sale and transfer of engineering, design development business forming a part of Power and Gas business and profit on sale of property at Worli. During the quarter, new orders grew by 10.4% yoy to Rs.2704 crore. With this, order backlog is reached to Rs. 12263 crore. Further, management is optimistic about future growth and express its increasing focus on winning projects where the governments thrust on spending is high.

BANK OF BARODA 1

Standalone Results Q2FY18: (Rs. in crore) Q2FY18

YOY( %)

NII

3720.20

8.60

NPA ( %)

11.20

19

PROVISIONS

2329

29.80

NET PROFIT ( ADJUSTED)

355

35.70

Bank of Baroda reported its Q2FY18 results today. The quarterly numbers missed street estimates on net profit. The net profit for the quarter was 22.6% below the street estimates of Rs.459 crore. However, net interest income for the quarter was 5.7% above the street estimates of Rs.3519 crore. The NII for the quarter was saw 8.6% yoy increase to Rs.3720 crore vs R s.3426 crore in Q2FY17. This was largely due to 2.6% yoy increase in interest income to Rs.10753 crore. While, interest expendedremained flat. The asset quality for the quarter showed steady performance. The GNPA’s for the quarter rose by 8% yoy to Rs.46306 crore.

The GNPA’s as percentage to total advances declined by 19 bps to 11.16% vs 11.35% in Q2FY17. The NNPA also declined by 41 bps to 5.05% vs 5.46% in previous year corresponding quarter. The provisions for the quarter continue to remain inch upwards for aging stressed asset problem. The provisions for the quarter rose by 30% yoy to Rs.2329 crore vs Rs.1795 crore Q2FY17. The resultant net profit for the quarter declined by 35.7% yoy to Rs.355 crore in previous year corresponding quarter.Also, the PCR for the quarter stood at 67.18%. Further advances and deposits grew by 9% & 3% yoy to Rs.387301 crore & 583212 crore respectively

FIIS NET BUY STOCK FUTURES WORTH RS100CR Foreign institutional investors net bought stock futures worth Rs100cr and index futures worth Rs140cr on NSE on Thursday. They net sold index options worth Rs500cr. FIIs net bought Indian shares worth Rs73.2cr on the BSE, NSE, and Metropolitan Stock Exchange combined.

Domestic institutional investors, however, net bought shares worth Rs220cr, according to provisional data on the NSE website.

IMPORTANT EVENTS TO WATCH OUT FOR NEXT WEEK Next week promises to be full of action as there are slew of macro-economic data to be released not only in India but also in the US. October fiscal deficit data and second quarter GDP data will be announced on November 30th while Nikkei market manufacturing PMI will also be announced. Apart from interest rate sensitive sectors like banking, realty and auto’s will be in action ahead of the RBI policy meet which will be held on December 6, 2017. Apart from this, US GDP data and also the OPEC meeting is scheduled on 30th of November. Given below is the list of upcoming events -

Nov 29 - GDP data US

Nov 30 - Oct fiscal deficit India

Nov 30 - Q2 GDP data India

Nov 30 - OPEC meeting Dec 1 – Nov Nikkei market manufacturing PMI Dec 6 – RBI Policy meet

IDEA ANNOUNCES PLANS TO ENHANCE 4G NETWORK Idea Cellular announced that it is in the process of doubling its current 4G capacity by adding 5 MHz spectrum in the 1800 MHz band. This action the company claims would significantly increase current speeds to more than double from current levels. Over 7,200 4G sites are planned that would cover over 525 towns and 7,100 villages in Maharashtra and Goa. The company plans to add over 3,700 broadband sites in FY18. This move could double 4G capacity and give Idea customers much faster download and upload speeds. In August September 2017, Idea Cellular added 1.5 lakh subscribers to its wireless base in Maharashtra alone. Nationally, however, the company lost 9 lakh subscribers during the same period. Idea is the third largest telecom player in India with a revenue market share of 19% . It also owns 12.8% stake in Indus Towers, a three-way joint venture with Bharti Airtel and Vodafone. Idea had a total subscriber base of 19.8cr at the end of FY17.

GODREJ CONSUMER CUTS PRICES OF SELECT PRODUCTS Godrej Consumer Products has cut the prices of products such as hair color, air fresheners, liquid detergents and deodorant categories by 7-10%. This step has been taken in order to pass on the benefits of the recent reduction in GST rates to consumers. This will result in a decline in the prices of their products and would make them more competitive against their peers.

Reduction in prices will result in an increase in overall sales and market share. Recent performance of the company indicates that their India business doing comparable sales growth of 11% led by 10% volume growth. International business also reported comparable growth of 9%. We believe, moving ahead there will be stronger growth in H2FY18 as post GST, the trade channels are getting back to normal and consumer offtakes have improved. We have a positve outlook on the stock. T

M&M TO INCREASE MARKET SHARE IN E-RICKSHAW SEGMENT M&M is eyeing to increase its share in the e-rickshaw segment. The market is primarily dominated by unorganised and local players. With the launch of its ‘e-Alfa Mini’, M&M becomes one of the first organised players to enter this segment. The e-Alfa Mini is priced at Rs 127,000 as compared to indigenous variants that are priced between Rs 75,000 and Rs 100,000. Moreover, the company has launched e-rickshaws in Delhi, Lucknow and Bengal and is planning to launch in another seven to eight markets within this fiscal. Currently, the company occupies a 30% market share in the small commercial vehicle space that includes both three-wheelers and four wheelers. Eyeing for improving market share in e-rickshaw is a step in positive direction, as it would aid the company to get the first mover advantage.

Further, M&M knows the growing needs & importance of Electric vehicle and has taken various steps towards EVs. Increasing share in e-rickshaw is one of the vital step towards this direction. Management has also decided to invest Rs 600 cr in technology development and component manufacturing.

AJANTA

PHARMA

GETS

USFDA

FINAL

NOD

FOR

CLONIDINE

HYDROCHLORIDE TABLETS It had announced USFDA approval and launch of Clonidine Hydrochloride Extended Release Tablets in the US Market through its wholly owned subsidiary Ajanta Pharma USA Inc. It is a bioequivalent generic version of Kapvay Tablets and company has launched the product in 0.1 mg dosage. In total, Ajanta has 39 Abbreviated New Drug Applications of which it has 22 final ANDA approvals, 2 tentative approvals, and 15 ANDAs under review with USFDA. Till date, it has launched 16 products in the US market. Ajanta Pharma develops, manufactures and markets finished dosages and serves as a specialty player in Ophthalmology, Dermatology and Cardiology. Company derived 66% of FY17 revenue from exports of which 54% and 46% came from Africa and Asia respectively.

PRESIDENT RAM NATH KOVIND APPROVES ORDINANCE ON INSOLVENCY AND BANKRUPTCY CODE President of India Ram Nath Kovind has given his assent today to the Ordinance to amend the Insolvency and Bankruptcy Code, 2016. The Ordinance aims at putting in place safeguards to prevent unscrupulous, undesirable persons from misusing or vitiating the provisions of the Code. The amendments aim to keep out such persons who have wilfully defaulted, are associated with non-performing assets, or are habitually non-compliant and, therefore, are likely to be a risk to successful resolution of insolvency of a company. In addition to putting in place restrictions for such persons to participate in the resolution or liquidation process, the amendment also provides such check by specifying that the Committee of Creditors ensure the viability and feasibility of the resolution plan before approving it. The Insolvency and Bankruptcy Board of India has also been given additional powers. It may be recalled that the regulations by the IBBI were also amended recently to ensure that information on the antecedent of the applicant submitting the resolution plan along with information on the preferential, undervalued or fraudulent transactions are placed before the Committee of Creditors in order for it to take an informed decision on the matter. Along with other steps towards improving compliances, actions against defaulting companies to prevent misuse of corporate structures for diversion of funds, reforms in the banking sector, weeding out of unscrupulous elements from the resolution process is part of ongoing reforms of the Government. These would help strengthen the formal economy and encourage honest businesses and budding entrepreneurs to work in a trustworthy, predictable regulatory environment. The Ordinance amends sections 2, 5, 25, 30, 35 and 240 of the Code, and inserts new sections 29A and 235A in the Code.

BANK OF BARODA TO RAISE UP TO RS 6,000 CR State-owned lender Bank of Baroda proposes to raise up to Rs 6,000 Cr through a rights issue or private placement. The finance committee of the bank's board has approved the proposal, the lender said in a regulatory filing. The finance committee of the board approved the proposal of raising additional equity capital aggregating up to Rs 6,000 Cr by way of a rights issue or qualified institutions placements the bank informed stock exchanges.

This move is positive for the bank as it would provide much-needed headroom to provide for bad loans and would also help for next leg of loan growth. The stock should react positively to this news. Bank of Baroda’s earnings would remain subdued in the near term, due to an elevated provisioning requirement. Earnings growth should recover over the medium term, driven by gradual moderation in NPL accrual and reduced provisioning.

BHARATI AIRTEL PARTNERS WITH ERRICSON TO DEVELOP THE 5G TECHNOLOGY Bharti Airtel has entered into a partnership with Ericsson to develop 5G technology for the former's India operations. As part of the partnership, Ericsson will work with Bharti Airtel on creating a strategic roadmap for evolution of the network to the next-gen 5G technology.

Earlier this year, the company had inked a similar pact with telecom gear maker Nokia to expand their partnership to areas like 5G technology standard and management of connected devices. Bharti Airtel is a leading global telecommunications company with operations across Asia and Africa. This will be a very big step with respect to 5G by Bharati Airtel particularly in telecom, technology changes, which requires telecom operators to regularly work on developing new technology. This piece of news will have positive bearing on Bharat Airtel as it will give competitive edge over its competitors.

ZYDUS RECEIVES FINAL APPROVAL FROM THE USFDA FOR ETHACRYNATE SODIUM INJECTION USP Company has received the final approval from the USFDA to market Ethacrynate Sodium for Inject USP, 50 mg/vial. The drug is used to decrease the swelling caused by various disease conditions such as liver disease, kidney disease, congestive heart failure, cancer etc. and will be produced at the group's formation manufacturing facility at Moraiya, Ahmedabad. Cadila Healthcare is a fully integrated, pharmaceutical company with strong presence in the formulations and CRAMS businesses globally. Its formulations business spans India, US, Europe and emerging markets. The company derived 34% and 41% revenues from India and the US, respectively, in FY17. The group now has more than 165 approvals and has so far filed over 300 ANDAs since the commencement of the filing process in FY2003-04. In the last trading session.

LEGAL DISCLAIMER

This Document has been prepared by Ways2Capital (A Division of High Brow Market Research Investment Advisor Pvt Ltd). The information, analysis and estimates contained herein are based on Ways2Capital Equity/Commodities Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only.

This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is meant for general information only. Ways2Capital Equity/Commodities Research, its directors, officers or employees shall not in any way to be responsible for the contents stated herein. Ways2Capital Equity/Commodities Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in this connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities or commodities.

All information, levels & recommendations provided above are given on the basis of technical & fundamental research done by the panel of expert of Ways2Capital but we do not accept any liability for errors of opinion. People surfing through the website have right to opt the product services of their own choices.

Any investment in commodity market bears risk, company will not be liable for any loss done on these recommendations. These levels do not necessarily indicate future price moment. Company holds the right to alter the information without any further notice. Any browsing through website means acceptance of disclaimer.

DISCLOSURE High Brow Market Research Investment Advisor Pvt. Ltd. or its associates does not do business with companies covered in research report nor is associated in any manner with any issuer of products/ securities, this ensures that there is no actual or potential conflicts of interest. To ensure compliance with the regulatory body, we have resolved that the company and all its representatives will not make any trades in the market.

Clients are advised to consider information provided in the report as opinion only & make investment decision of their own. Clients are also advised to read & understand terms & conditions of services published on website. No litigations have been filed against the company since the incorporation of the company.

Disclosure Appendix: The reports are prepared by analysts who are employed by High Brow Market Research Investment Advisor Pvt. Ltd. All the views expressed in this report herein accurately reflects personal views about the subject company or companies & their securities and no part of compensation was, is or will be directly or indirectly related to the specific recommendations or views contained in this research report.

Disclosure in terms of Conflict of Interest: (a) High Brow Market Research Pvt. Ltd. or his associate or his relative has no financial interest in the subject company and the nature of such financial interest; (b) High Brow Market Research Pvt. Ltd. or its associates or relatives, have no actual/beneficial ownership of one percent or more in the securities of the subject company, (c) High Brow Market Research Pvt. Ltd. or its associate has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;

Disclosure in terms of Compensation: High Brow Market Research Investment Advisor Pvt. Ltd. policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst's area of coverage.

Analyst compensation: Analysts are salary based permanent employees of High Brow Market Research Pvt. Ltd.

Disclosure in terms of Public Appearance: (a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from the subject company in the past twelve months; (b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report. (c) High Brow Market Research Pvt. Ltd. or its associates has never served as an officer, director or employee of the subject company; (d) High Brow Market Research Pvt. Ltd. has never been engaged in market making activity for the subject company.