Morning Tea 16-09-15

1. SEBI Certified – Research Analyst www.choiceindia.com
Global View
India Update
Today’s Event/ Stock in News
In bid to expand its basketofspecialtyproductsto boostsales, SunPharmaceutical hasbid to acquire US based eye carecompany InSite Vision Inc.Thepactmay be
valuedataroundRs300crore.SunPharmaisthefifthlargestspecialtygeneric pharmaceuticalcompanyintheworld.Thecompanyprovideshighquality, affordable
medicinestrustedbyhealthcareprofessionalsandpatientsinover150countriesworldwide.
Technical Outlook : On daily chart, prices have been taking support at 814.50 levels. Moreover, prices are trading above 100 DEMA, which suggest short term
trend is up. Recently, stock has given breakdown of consolation range of 813.50 to 859.50 levels. The momentum indictor RSI has remained above 40 levels,
whichgivespositiveconfirmation totheprices.Sofortradingperspective,onecouldBuyintherangeof863-867fortheTarget885ofwiththeSLof854.
DeutscheBankhasdowngradedtheLT.Thebrokerageslashedearningsestimatesby2percent/16percentforFY16/17duetodemandpushbackexpectations."New
orders are being deferred/pushed back in both India and the Middle East – barring a few state segments such as Andhra. Consequently, with rising competitive
intensity and estimating the company to be selective in bidding, we cut order inflow (core engineering & construction) FY16E/17E EPS by 20/18 percent, leading to
earningscutsof2percent/16percent,"itexplains.Itsestimatesincludeaslowramp-upinprojectexecutionintheinfrasegmentandahighermarginfromweakinput
cost.It says valuation frameworkon twelve different scenarios showsthatunless L&T manages to release capitalby value unlocking and/or cuts net working capital
(NWC)/sales sharply, the stock may suffer 4-55 percent value erosion from demand pushback or margin compression. Annual report for FY15 shows good risk
management asNWCasapercentage ofsales shrank by650bps to 24percent (against31percent);debtorsover six months are 7percentofthe total;and net un-
hedged forex exposure is less than 9 percent of total networth (against 17percent in FY14). However, according to Deutsche Bank,challenges for the company are
thatperformance/corporateguaranteesforsubsidiariesareat48percentofparentcompanynet-worth(against28percentinFY14),whichmaylimitmedium-term
upside,unlessthesubsidiariesturnaround.
Technical Outlook: Recently,the stockhasretesteditstrendlineresistanceat1629.50levels. Inpast,stockhas shownbreakdownof rising trendline1625.60
levels on daily chart. Moreover, prices are trading below 21 DEMA, which indicating for short to medium term down trend. The stock has formed long bearish
candle stick on daily chart with huge volumes, showing accentuated selling pressure. Momentum indicator RSI reading is at 39.30 which is below 40 marks,
whichpointoutfornegativebreathinthestock.Sofortradingperspective,onecouldSellintherangeof1558-1564fortheTargetof1525withtheSLof1580
SUNPHARMA
LT
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Morning Tea
16th Sept 2015
Sell in the range of 1558-1564 with SL of 1580 for the Target of 1525
Buy in the range of 863-867 with SL of 854 for the Target of 885
US stocks rallied over 1 percent on Tuesday after data showed healthy growth in consumer spending but did little to remove uncertainty about
whethertheFederalReservewillraiseratesthisweek.Speculationaboutwhen theFedwillendsevenyearsofnear-zerointerestrateshasdogged
WallStreetforseveralmonths,withthepicturecomplicatedbyrecentmarketturbulencethatsomeseeasjustificationforthecentralbanktohold
off. The Commerce Department said core retail sales rose 0.4 percent in August after an upwardly revised 0.6 percent increase in July. It was the
latest sign of sturdy economic momentum and suggested the recent stock market selloff hadlittle immediate impact on U.S. household spending.
In Europe markets too equities gained one percent. The closely-watched German Zew Economic sentiment index dropped to 12.1 percent in
Septemberfrom25pointsinAugust.TheDowJonesindustrialaveragerose228.89points,or1.4percent, toendat16,599.85points.TheS&P500
gained1.28percentto1,978.09 andtheNasdaqCompositeadded1.14percentto4,860.52.
Asian shares advanced early Wednesday, cheered by an impressive handover from Wall Street. Furthermore, the gains came as Beijing steps up
efforts to curb volatility in its stock market, by extending its control of onshore markets to commodities exchanges. The Nikkei share average rose
on Tuesday as the Bank of Japan's two-day policy meeting concluded without any surprise decisions and food companies rallied on reports of a
merger between two major meat processors. The Bank of Japan held off on expanding stimulus, preserving its limited policy options in the event
that an expected U.S. rate hike brings further global volatility. The Shanghai Composite index tradedat 0.67% to 3022.08, Hang Seng index traded
at 1.19 % to 21713, Japan's benchmark Nikkei 225 index traded at 0.96% to 18201.57, South Korea's Kospi index up by 1.80 % to 1973.03 levels.
TheSGXNiftysuggestsapositiveopeningforourmarketsasitistradingat7884,upby61points.

2. SEBI Certified – Research Analyst www.choiceindia.com
Bulk Deal
Corporate Action / Result Calendar
SEBI Certified – Research Analyst www.choiceindia.com
Morning Tea
16th Sept 2015
Security in Ban
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Corporate Action:
Aurionpro Solutions Limited; Annual General Meeting/Dividend - Rs 3/- Per Share
The Byke Hospitality Ltd; Annual General Meeting/Dividend -Re 1/- Per Share
Cox & Kings Limited; Annual General Meeting/ Dividend - Re 1/- Per Share
Delta Corp Limited; Annual General Meeting/ Dividend - Re 0.10/- Per Share
Indraprastha Medical Corporation Limited; Annual General Meeting / Dividend Rs 1.80/- Per Share
Jagran Prakashan Limited; Annual General Meeting/ Dividend - Rs 3.50/- Per Share
JK Lakshmi Cement Limited; Annual General Meeting/ Dividend - Rs 2/- Per Share
Maxwell Industries Limited; Annual General Meeting/ Dividend - Re 0.30/- Per Share
Multi Commodity Exchange of India Limited; Annual General Meeting/ Dividend - Rs 10/- Per Share
MMTC Limited; Annual General Meeting/ Dividend - Re 0.25/- Per Share
Oil India Limited; Annual General Meeting/ Dividend - Rs 10/- Per Share
PTC India Financial Services Limited; Annual General Meeting / Dividend Re 1/- Per Share
PTC India Limited; Annual General Meeting/ Dividend - Rs 2.20 Per Share
Reliance Capital Limited; Annual General Meeting/ Dividend - Rs 9/- Per Share
Reliance Infrastructure Limited; Annual General Meeting/ Dividend - Rs 8/- Per Share
RSWM Limited; Annual General Meeting/ Dividend - Rs 10/- Per Share
Ruchi Infrastructure Limited; Annual General Meeting / Dividend Re 0.06/- Per Share
Ruchira Papers Limited; Annual General Meeting/ Dividend - Rs 1.30 Per Share
Ruchi Soya Industries Limited; Dividend-Re 0.16/- Per Share
Shakti Pumps (India) Limited; Annual General Meeting/ Dividend - Rs 2/- Per Share
Shilpa Medicare Limited; Annual; General Meeting/ Dividend - Rs 1.10/- Per Share
Supreme Petrochem Limited; Annual General Meeting/ Dividend - Rs 1.50/- Per Share
Time Technoplast Limited; Annual General Meeting/ Dividend - Re 0.50/- Per Share
Tree House Education & Accessories Limited; Dividend - Rs 2/- Per Share
Titagarh Wagons Limited; Annual General Meeting And Dividend Re.0.80 Per Share
Sr.No Deal Date Security Code Security Name Client Name Deal Type Quantity Price
1 15/09/2015 532682 ABGSHIP STRATEGIC CREDIT CAPITAL PRIVATE LIMITED B 1,500,000 150.65
2 15/09/2015 532682 ABGSHIP ADIHEMSHREE FINANCIAL S 815,175 150.75
3 15/09/2015 537253 SUNLOC KANCHAN SUNIL SINGHANIA B 294,529 45.18
4 15/09/2015 537253 SUNLOC ESQUIRE ENGINEERING LTD S 274,696 45.01
5 15/09/2015 533896 FERVENTSYN VISHWAMURTE TRAD INVEST PE LTD S 269,000 20.90
6 15/09/2015 533896 FERVENTSYN AVASHYAA INFOTECH PVTLTD B 269,000 20.90
7 15/09/2015 502450 SESHAPAPER HRIDAYNATH CONSULTANCY PRIVATE LIMITED S 224,043 265.00
8 15/09/2015 532172 SPHEREGSL RAVIKAANTH PORTFOLIO SERVICES PRIVATE LIMITED S 150,419 33.60
9 15/09/2015 538119 RNBDENIMS CLUBSIDE DEALCOM PRIVATE LIMITED S 150,000 7.88
10 15/09/2015 502450 SESHAPAPER GHI LTP LTD B 150,000 264.93
AMTEKAUTO & CENTURYTEX

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SEBI Certified – Research Analyst www.choiceindia.com
Research Team
Mr. Sumeet Bagadia Associate Director
Kunal Parmar Research Associate
Chandrakant Maske Research Associate
Ritesh Patel Research Associate
Amit Pathania Research Associate
Vikas Chaudhari Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
Morning Tea
16th Sept 2015
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Kunal Parmar
Digitally signed by Kunal Parmar
DN: cn=Kunal Parmar, o=Choice Equity Broking Pvt
Ltd., ou=Research Dept.,
email=kunal.parmar@choiceindia.com, c=IN
Date: 2015.09.16 08:40:36 +05'30'