MARKET Diary

15-Dec-16
Market

Nifty Intraday Chart

Market
Morning Traded Market

KEY LEVELS

Vascon : 11:30 AM
Karveri Seed : 12:00 PM

Kawlity Dairy : 11:30 AM

Dividend
COLPAL : Rs : 1
(Ex Date : 15.12.2016 )

Stock Split
ALANKIT
( From Rs.2/- to Rs.1/-)

Bonus issue
ONGC

Ratio : 1:2
(Ex Date : 15.12.2016 )

Result
J&K Bank

-0.28%

19321

0.35%

22,296.00

-0.72%

Sensex
Nifty

26,602.84
8,182.45

-0.36%
-0.48%

DOW
NASDAQ

19,792.85
5,484.77

-0.60%
-5.08%

CAC

4,769.24

-0.73%

DAX

11,244.84

-0.35%

FTSE
EW ALL SHARE

6,949.19
14,718.23

-0.28%
-0.65%

HANG SENG

Yesterday Closing Market

Market Outlook

Jagran : 11:30 AM

8,161.00

NIKKIE

Resistance 1: 8310
Resistance 2: 8598

Concall

% Change

SGX NIFTY

Support 1 : 8056
Support 2 : 7916

Event Today

Value

Indian equities gave a range bound and choppy

movement through the day on Wednesday and
after opening on subdued note, Nifty traded in
the band of 8165-8230. At the end of the index
closed at 8182.45. It had a net loss of 0.5% over
the previous days close. The midcap and small
cap indices also moved in line with the
benchmark index and closed the day after losing
0.6%-0.8%.
On the sectoral front, some selling pressure was
witnessed in Metal, Banking, Auto and FMCG
stocks while Realty and Information Technology
indices closed in green. The breadth of the
market was very poor and about five shares
declined for two shares advanced at NSE.
Countrys Wholesale inflation moderated to
3.15% in November as against 3.39% in October.
The drop in wholesale inflation is mainly due to
the fall in food prices and the food articles
inflation lowered to 1.54% in November from
4.34% in October. However the inflation in cereal
and wheat was higher than October.
The foreign investors were the net sellers in the
cash segment. They sold Rs 632 crores worth of
equities on Wednesday.
After giving a pullback rally from 7916.40, Nifty
is moving in the range of 7900 and 8300 since
last three weeks. We expect the range bound
movement of the index to continue for another
few days. Traders are advised to hold long
positions with stop loss 7900.

% Change in 1 day

Commodity Price ( Yesterday Closing )

Commodity/Currencies
GOLD
SILVER
CRUDEOIL
NATURALGAS
DOLLAR/RS.
EURO/RS.
POUND/RS.

Value

% Change

27587.00

0.19%

41728.00

1.20%

54.49

1.28%

249.00

0.89%

67.43

-0.16%
-0.39%
-0.28%

70.78
84.50

% Change in 1 day

Institutional Turnover
FII
Investor

Buy(Cr.)

Sale(Cr.)

Net(Cr.)

4178

4811

(632)

32430

34362

(1932)

2016

1012696

1011778

918

Investor

Buy(Cr.)

Sale(Cr.)

Net(Cr.)

1749
13501

1539
13473

211
29

468525

440180

28345

14-Dec-16
Dec-16

DII
14-Dec-16
Dec-16
2016

Quote of the Day : "With every new wave of optimism or pessimism, we are ready to abandon history and
time-tested principles, but we cling tenaciously and unquestioningly to our prejudices." Benjamin Graham
Narnolia Securities Ltd

IEA Snapshot
GODREJCP

"BUY"

15th Dec 2016

Management is rationalizing ad expenses and has increased home insecticide products prices by 2% in the late September 2016 to counter
upward movement of input prices. Going forward we expect relatively less impact on GODREJCP compared to other FMCG players, as
company gets approx 46% of its revenue from international market. Secondly companys proactive initiatives of cutting promotions and
increasing price of the products gives us confidence on margin side. Demonetization will help company to increase market share as
compared to regional players which have more dependence on wholesale channels of distribution. Considering lesser dependence of
company in Indian business, proactive approach towards maintaining the margin and relatively less penetrated product portfolio, we have
positive view on this stock and we maintain `BUY with target price of Rs 1760.

COALINDIA

"NUTRAL"

14th Dec 2016

Drop in realization along with persistent poor offtake and the risk of continued weakness in e-auction premium may keep Coal Indias
earnings subdued for FY2017E. Rising cost base with negative operating leverage leads to earning downgrade.
Earnings risk from weak volume growth and the coming wage revision keep us cautious on CIL.
As far as Q2FY17 result is concern stock price may get volatile, but going ahead attractive dividend yield will support price. Considering all
these things we downgrade our earning outlook for COALINDIA and change our rating to NEUTRAL (with a TP of Rs.310) from BUY.
*For details, refer to our daily report- India Equity Analytics

Top News
Lupin has received approval from the US health regulator to
market its Desoximetasone ointment, used for providing relief
from inflammation and itching in a skin disease. The company
has received final approval to market its Desoximetasone
ointment USP, 0.05 percent from the United States Food & Drug
Administration (USFDA)

Welspun India said it is investing Rs 600 crore for setting up a facility

for manufacturing carpets, area rugs and carpet tiles here, marking the
leading global home textile firm's foray into flooring solutions segment.
Company is expanding our product portfolio by foraying into flooring
solutions with a Rs 600 crore carpet plant at Anjar. We will invest Rs 180
crore in Phase I

Key highlights of the Concall of GODREJCP on

demonetization:
FMCG: for 18 months facing slowdown in demand especially
rural. Demonetization : Currency liquidity has hit. Situation is
improving. 45%-50% go through multilayer indirect channel.
Large part of it happens wholesale now and it involves cash.
Upward traction in modern trade and ecommerce, growing
double digits, expects modern trade and ecommerce to do well
going forward. Extended certain credit line to channel partners.
Credit days has gone up by 4-5 days. The company is expanding
direct distribution.
Rationalized ad expenses and do more going forward.
Going forward, Mgt sees big company with strong direct reach
will get market share from regional player as regional players
are dependent to 80 to 90% to whole sellers for distributing
their products. Palm oil derivatives up 25%. The company
withdrew consumer offers which in turn led to effective price
increase in 3QFY17. Generally Crude related price increase has a
lag of 6 to 8 months and the company has increased its home
insecticide price by 2% in the late September 2016. Retail is
improving but wholesale is question mark. No big launch in the
2HFY17. 40-45% sales of GODREJCP is wholesale. (30% rural) .
Hair color is more impacted than home insecticide. Saving from
Project pie in India is estimated to be Rs 100 cr in FY17.

Buoyed by generation of 567 million extra units of thermal power so

far this fiscal, NTPC 's Rs 13,000-crore Darlipali plant in Odisha's
Sundargarh district is set to be commissioned within a year. The first
unit of Darlipalli plant with 800 MW capacity is expected to be
commissioned by February 2018 and production will commence in
August.
The US Federal Reserve raised interest rates by a quarter point and
signalled a faster pace of increases in 2017 . Fed raised the target
federal funds rate 25 basis points to between 0.50 percent and 0.75
percent.
Euro zone industrial production fell to a seasonally adjusted -0.1%,
from -0.9% in the preceding month whose figure was revised down
from -0.8%. Analysts had expected Euro zone industrial production to
rise 0.2% last month.
U.K. Unemployment Rate remained unchanged at a seasonally
adjusted 4.8%, from 4.8% in the preceding month. Analysts had
expected U.K. Unemployment Rate to remain unchanged at 4.8% last
month.
U.K. claimant count change rose to a seasonally adjusted 2.4K, from
13.3K in the preceding month whose figure was revised up from 9.8K.
Italian CPI remained unchanged at 0.0%, from -0.1% in the preceding
month.

Narnolia Securities Ltd

F&O OPEN INTEREST ( Number of Contracts )

Individual

Foreign Institutions

MARKET MOVERS (1 MONTH CHANGE)

Nifty Movers

NSE Sectoral Indices Performance

TRADING IDEAS

Scrip

Reco

INFY

Buy

HEXAWARE
Dec. 200 PE

Long
(1 lot =
2000)

Initiation Price

999.75

3.4

Target 1

1038

Target 2 Stop Loss

1064

14

Narnolia Securities Ltd

958

Rational
The stock has given a good
pullback rally
since last couple of days. The immediate
crucial resistance of the stock is at 1010 and a
breach of this level another 5-6% upside is
expected in it.
The stock faced a stiff resistance near Rs 214
and thereafter
corrected from that level.
It has also made a negative divergence both
in RSI & Stochastic on daily chart. Some fresh
selloff is
expected from here.

Result Calendar Q2FY17

Date
BSE Code

BSE Code

Company Name

532209
533402
509567
532987

J&KBANK
INNOIND
GOACARBON
RBL

15-Dec-16
16-Dec-16
13-Jan-17
20-Jan-17

BSE CODE

NSE CODE

Sales Rs Cr

500093
532705
532234
533278
532899

CROMPGREAV
JAGRAN
NATIONALUM
COALINDIA
KSCL

1363.00
554.20
1777.20
1618.99
126.10

BSE CODE

NSE CODE

Sales Rs Cr

522163
532787
532705
533152
500108
532234
532649
509243
532804

DIAPOWER
ESSDEE
JAGRAN
MBLINFRA
MTNL
NATIONALUM
NECLIFE
TVSSRICHAK
TIIL

349.57
0.14
459.01
378.99
729.00
1846.60
414.65
520.67
223.00

Company Name

Date

RML
RANEENGINE
MAHLIFE
VENLONENT

23-Jan-17
25-Jan-17
30-Jan-17
31-Jan-17

Sales YoY

Pat Rs Cr

PAT YoY

(39.90)
9.40
(2.10)
(4.50)
35.00

29.30
77.70
166.20
127.61
(3.10)

LP
(9.60)
(26.50)
(49.30)
Loss

Sales YoY

Pat Rs Cr

PAT YoY

(29.47)
(99.89)
7.93
(8.14)
(6.98)
3.72
4.53
0.44
30.68

(205.83)
(62.16)
75.45
(121.84)
(768.32)
118.68
16.11
48.18
27.85

952.84
386.00
29.39
(745.34)
5.19
(47.52)
(6.99)
(0.99)
31.68

Thursday
15th Dec 16

Friday
16th Dec 16

532661
532988
532313
524038

Earning Estimate Q2FY17

Result Q2FY17

Country

US

UK/EURO ZONE

INDIA

Monday
12th Dec 16

Federal Budget Balance.

Economic Calendar
Tuesday
Wednesday
13th Dec 16
14th Dec 16

Import Prices m/m.

Core Retail Sales m/m , PPI m/m

, Retail Sales m/m , Core PPI
CPI m/m , Core CPI m/m , Philly
m/m , Capacity Utilization Rate ,
Fed Manufacturing Index ,
Industrial Production m/m ,
Unemployment Claims , Current
Crude Oil Inventories , FOMC
Account , Empire State
Economic Projections , FOMC
Manufacturing Index .
Statement , Federal Funds Rate ,
FOMC Press Conference.

CPI y/y , PPI Input m/m

German 10-y Bond Auction , RPI y/y ,German ZEW Italian Trade Balance ,Average
, Spanish 10-y Bond
Economic Sentiment , Earnings Index 3m/y , Claimant
Auction.
ZEW Economic
Count Change .
Sentiment .

IIP

WPI

Narnolia Securities Ltd

Building Permits ,
Housing Starts.

Retail Sales m/m , MPC Official

Bank Rate Votes , Monetary
Final CPI y/y , Final Core
Policy Summary , Official Bank CPI y/y , Trade Balance .
Rate , Asset Purchase Facility .

N arnolia Securities Ltd

201 | 2nd Floor | Marble Arch Bu ild ing | 236B-AJC Bose
Road | Kolkata-700 020 , Ph : 033-40501500
em ail: narnolia@narnolia.com ,
w ebsite : w w w .narnolia.com

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