Most Market Roundup BLACK FOXblackfoxindia.com/Admin/Researchpdf/1001748469... · Most Market Roundup May 18th,2017 BLACK FOX EQUITY Market Sensex 30434.79 (-0.73) Nifty 9429.45 (-1.01)

Most Market Roundup May 18th,2017

BLACK FOX

EQUITY Market Sensex 30434.79 (-0.73) Nifty 9429.45 (-1.01)

Closing Bell: BSE Sensex fell by 224 points on Thursday, while the Nifty closed below 9,500 points. BSE Sensex fell from record highs on Thursday tracking Asian peers, and dropped after a three day rally, as uncertainty mounted over US President Donald Trump’s future following reports he tried to intervene into a federal investigation. The dollar was stuck at six-month lows, while Wall Street posted the biggest intra-day slide since September, as pressure mounted on Trump with the US Justice Department appointing former FBI chief Robert Mueller to probe a possible collusion between his election campaign and Moscow Only eight out of 51 stocks on the Nifty were trading in the green. Shares of Apollo Hospitals Enterprise Ltd fell as much as 2.66% after an arm of Malaysian sovereign fund Khazanah looked to exit the healthcare provider by selling its remaining 4.78% stake. United Breweries Ltd, brewer of Kingfisher beer, dropped as much as 4.8% after reporting an 87% fall in profit State Bank of India fell 1% to Rs 304.25 ahead of its March quarter earnings on Friday. According to 21 Bloomberg analyst estimates, the bank expects to post a net profit of Rs 2670.50 crore. IT Stocks trading higher. Wipro Ltd rose 2.2%, Tata Consultancy Services Ltd 2%, Tech Mahindra Ltd 1.2%, HCL Technologies Ltd 0.2%, Infosys Ltd 0.2%. JK Lakshmi Cement Ltd fell 6.6% to Rs 481 after the company reported 20% decline in its net profit to Rs 20.85 crore in March quarter against Rs 25.87 crore a year ago. Yes Bank fell 2.4% to Rs1,420.35. The stock hit over three month low. It fell nine out of eleven trading sessions and declined over 12% in this period. Syngene International Ltd rose 2%, while Apollo Hospitals Enterprises Ltd fell 0.5% after a huge block deal. Around 9 million shares or 4.5% stake of Syngene International changed hands in a block deal. For Apollo Hospital, around 5.92 million shares or 4.3% stake of the company changed hands. United Breweries Ltd fell 4% to Rs782 after the company reported 87.2% decline in its net profit in the March quarter to Rs6.73 crore against Rs52.37 crore a year ago. Indian Overseas Bank fell 3% to Rs28.75 after the bank reported a net loss of Rs646.66 crore against Rs936.19 crore a year ago on higher provisioning. State-run IDBI Bank on Thursday reported widening of net loss to Rs 3,199.76 crore for the quarter ended March 31, 2017. The lender had posted a net loss of Rs 1,735.81 crore in the corresponding quarter last year. Indiabulls Ventures surged 622 per cent between December 26 and May 17. The IPO of IRB InvIT, the first infrastructure investment trust to get listed, had been oversubscribed 8.57 times. During the IPO period, the institutional investor quota was oversubscribed 10.81 times and the other investor quota 5.89 times. The IPO had been sold in the price band of Rs 100-102.

Exchange Toady Pre. Day BSE (CASH) NA 6808

BSE(Derivative) 41.13 18.2

NSE (Cash) 28181 25748

NSE(Derivative) 865003 442224

Exchange Today Pev. Day

BSE (Cash) 3480 3740

BSE(Derivative) 0.23 1.03

NSE (Cash) 24585 30617

NSE(Derivative) 272282 865138

Total 300348 899497

Group NIFTY IND BSE INDEX

Advance 06 15

Decline 45 185

Unchanged 00 1

Symbol LTP % Change WIPRO 525.10 +2.85

TCS 2525.00 +2.84

INFY 960.25 +0.78

SUNPHARMA 655.00 +0.63

LUPIN 1307.00 +0.60

Symbol LTP % Change YESBANK 1397.55 -3.93

GRASIM 1127.10 -3.74

BOSCHLTD 23300.00 -3.68

BANKBARODA 185.90 -3.05

EICHRMOT 28213.00 -3.03

Exchange No. of Contracts

Turn Over Index Futures 225641 17480

Stock Futures 827215 60696 Index Options 8647197 737288

Stock Options 664995 49539 F&O Total 10365048 865003

CASH VOLUME (Rs In Cr.)

ADVANCED / DECLINE

TOP INDEX GAINERS

TOP INDEX LOSERS

DERIVATIVE VOL

417.

1561.05

UME In Cr.

Stock future Price Rs. Qty Value Contract

CESC 830.3 28449 9724 TATASTEEL 486.3 24744 16658 ICICIBANK 308.0 23414 28355

YESBANK 1401.2 21686 27556

ACTIVE STOCK IN FUTURE


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News: Sajjan Jindal-led JSW Steel Ltd said fiscal fourth-quarter profit tripled

from a year ago, beating analysts’ estimates, on the back of higher production and sales. Sajjan Jindal-led JSW Steel Ltd said fiscal fourth-quarter profit tripled from a year ago, beating analysts’ estimates, on the back of higher production and sales.

Great Eastern Energy will invest Rs2,000 crore over the next 4-5 years to drill 144 new wells at its Raniganj block, and another Rs5,000 crore in other unconventional assets.

Dilip Buildcon hit a record high of Rs 529, up 8% on BSE in intra-day trade in otherwise weak market, after the company reported a more than three-fold jump in net profit at Rs 196 crore for the quarter ended March 2017 (Q4FY17).

Caplin Point Laboratories hit new high of Rs 574, up 7% on BSE in otherwise weak market, extending its past one week rally, after the company reported more than doubled consolidated net profit of Rs 33 crore in March quarter (Q4FY17), on the back of strong revenue growth. The pharmaceutical company had reported profit of Rs 16 crore in the same quarter a year ago.

Being the second to list its investment trust (InvIT) and the first in the power transmission segment, IndiGrid's initial public offering (IPO) is interesting. Backed by Sterlite Power Grid Venture (SPG) as the sponsor, IndiGrid may offer investors an opportunity to directly participate in India's power transmission and distribution (T&D) theme. Ambit Capital in its report mentions that InvITs in the T&D space may be a better bet among listed companies given the limitation of capital misallocation that can take place under the InvIT structure. Operations Assets of ...

CESC Slumps As Board Approves Restructuring - Shares of power supplier fall as much as 17.3% to Rs 807, the most since October 2012 Board approved demerger of some businesses into units; To merge infra unit, spencer retail, music world with self Q4 net income Rs 295 crore vs estimate Rs 211 crore.

Gufic Biosciences Hits Life-time High - Stock rose as much as 20%, the highest intraday gain in nearly 6 months Volumes at 62 times its 20-day average Stock has gained 42% year-to-date The pharma company has a market cap of Rs 584 crore

Bajaj Auto Swings After Q4 Earnings - Q4 net profit Rs 862 crore vs estimate Rs 842 crore Q4 revenue Rs 5,213 crore vs estimate Rs 4,830 crore Declares dividend of Rs 55 a share Shares swing between gains and losses after margins miss estimates

Jyothy Labs Recovers As Q4 Profit Beats Estimate -

Shares recover from earlier losses to trade higher 1% at Rs 385

Q4 net profit Rs 110 crore vs estimate Rs 41 crore

Q4 revenue Rs 470 crore vs estimate Rs 478 crore.

Indices Closing Price Change(%)

Dow 30 20606.93

-1.78

Nasdaq 6011.24 -2.57

FTSE 100 7424.50 -1.05

DAX 12548.00 -0.66

S&P/TSX 15273.68 -1.73

CAC 40 5258.80 -1.10

Nikkei 225 19553.86 -1.32

Shanghai 3090.40 -0.45

Hang Seng 25136.52 -0.62

V/S INR Closing Price Change(%)

Dollar 64.84 +1.08

Euro 72.03 +0.67

Pound 84.39 +1.51

JPY 0.59 +1.72

Aus 48.25 +1.22


Crude OIL 48.39 -1.35

Gold 1260.88 +0.17

Silver 16.754 -0.88

Aluminium 1907.25 -0.95

Copper 2.494 -2.06

GLOBAL COMMODITY

GLOBAL INDICES

GLOBAL CURRENCIES


Crude OIL 3140.00 -0.51

Gold 28870.00 +0.88

Silver 39127.00 -0.18

Aluminium 123.55 -0.12

Copper 359.15 -1.10


Sensex 30434.79 -0.73

Nifty 50 9429.45 -1.01

Nifty Next 50 26251.05 -2.05

Nifty Mid 50 4581.50 -2.94

Indices Today Closing Previous Clo

FII NA -731.39

DII NA +614.51

Note - *Data as of today, 5 P.M

DOMESTIC COMMODITY

DOMESTIC INDICES

INSTITUTIONAL ACTIVITY

http://www.business-standard.com/search?type=news&q=Dilip+Buildcon

http://www.business-standard.com/search?type=news&q=Caplin+Point+Laboratories


BLACK FOX


Earnings Reaction JP Associates Jumps On

Debt Deal Optimism - Shares up as much as

9.2% to Rs 13.60, the most since February 2017

Company may announce debt plan today, CNBC-TV18 reported citing unidentified sources

Jaiprakash Associates had an outstanding debt of Rs 2,713.33 crore as of March 31, 2016: annual report

Volume at 2.2 times its 30-day average.

JSW Steel Falls Most In Over A Month Despite Upbeat Q4 Profit -

Stock falls as much as 3.6% to Rs 199.30, the most since March 27

Shares have rallied nearly 6% over the past 4 sessions ahead of Q4 results

S&P BSE Metal index down 1.4% tracking weak global commodities

JSW’s Q4 net income beat estimates; company declared a dividend of Rs 2.25 a share.

Bajaj Finserv: (-1.6%):

Q4 net income Rs 535 crore vs estimate Rs 586 crore

Indian Overseas Bank (-2.2%): Q4 net loss Rs 650 crore vs loss Rs 940 crore last year

Mangalore Refinery (+5.4%): Q4

net income up 42.55% to Rs 1,942.4 crore Smartlink Network (-4.2%): Q4 net income Rs 70.2 lakh vs Rs

3.3 crore last year Hindustan Unilever (-0.9%): Q4 net income Rs 1,180 crore vs

estimate Rs 1,080 crore Q4 net income Rs 38.4 crore vs estimate Rs 43.1 crore Dhanlakshmi Bank (+5.3%): Q4 net income Rs 8.8 crore vs loss

Rs 132 crore last year Oracle Financial: (-1.8%): Q4 net income Rs 220 crore vs

estimate Rs 340 crore PI Industries (+2%): Q4 net income Rs 135 crore vs estimate Rs

93.4 crore

Stocks To Watch: Capital First: Says Warburg Pincus sold 25 percent stake in the

company. Hindustan Organic: Cabinet approved restructuring for the

company. Siemens India: Won order from Vedanta to digitally connect

power units. Reliance Infrastructure: Filed petition for urgent payment of

arbitration. Jindal Poly Films: To consider proposal to raise funds up to Rs

800 crore. Lupin, Wockhardt: Drug price regulator issued notices to

companies for violating price control norms. Signs an exclusive licensing agreement with Eli Lilly in India. Golden Tobacco: Excise department imposed a penalty of Rs 25

crore. HCL Tech: Vama Sundari Investments (Delhi) Pvt. Ltd. buys 1.24

crore shares or 0.87 percent stake at Rs 858 each. Indraprastha Gas: To raise consumer CNG price 35 pasise per

kg in Delhi. Quess Corp: To raise funds by issuing equity shares.

Earnings Today Bank of Baroda Aditya Birla Nuvo Cummins India CESC Bajaj Auto EID Parry India IDBI Bank Karur Vysya Bank Pidilite Industries Muthoot Finance Strides Shasun

https://twitter.com/hashtag/CNBCTV18Exclusive?src=hash

https://twitter.com/hashtag/CNBCTV18Exclusive?src=hash


BLACK FOX


Talking Points

Cartica’s Barger says Indian stocks have "more to run"

Inflation plunge unlikely to sway India’s hawkish central bank

Bond-like securities lure top Indian fund to Road Builders

India’s ICICI Primary Dealer says hard to repeat profit levels

India monsoon likely to reach Kerala from May 30: IMD

India bank loans of Rs 2.6 trillion may become stressed by FY19: Ind-Ra

SEBI sets position caps for cross-currency F&O in IFSC exchanges

Global funds sold Rs 731 crore of local stocks; domestic funds bought Rs 615 crore on May 17: Provisional data

India, Peru coffee production seen increasing, USDA FAS says

India approves coal supply auction policy for power plants

bonanza turning city at ‘zero mile’ into India’s warehouse

RBI targets rupee forwards as cash flood curbs spot intervention

India forms panel to study systemic issues in telecom sector

India palm imports rise for third month on weaker global price

Weak El Nino seen in next few months: MDA Weather Services Global funds bought Rs 858 crore of local stocks; domestic

funds sold Rs 402 on May 16: Provisional data Pilot exodus prompts India air regulator to turn labor watchdog


BLACK FOX


INDEX

CLOSE POINT CHANGE %CHANGE

NIFTY BANK 22698.60 -237.35 -1.03

NIFTY IT 10545.60 +108.30 +1.04

NIFTY REALTY 264.70 -8.95 -3.27

NIFTY INFRA 3243.75 -60.45 -1.83

NIFTY ENERGY 11884.40 -188.75 -1.56

NIFTY FMCG 23864.00 -402.75 -1.66

NIFTY MNC 11567.40 -234.20 -1.98

NIFTY PHARMA 10160.30 -62.30 -0.61

NIFTY PSE 4150.20 -57.45 -1.37

NIFTY PSU BANK NIFTY SERV SECTOR NIFTY MEDIA NIFTY METAL NIFTY AUTO

3737.80

12257.90

3166.60

2947.05

10436.35

-80.05

-62.05

-53.60

-83.60

-233.35

-2.10

-0.50

-1.66

-2.76

-2.19


BLACK FOX


JSWSTELL - JSW Steel Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 17, 2017 , has approved the following: i. Dividend at the stipulated rate of Re. 1/- (Rupee One only) per share on the 10% Cumulative Redeemable Preference Shares of Rs. 10 each of the Company has been recommended for the year ended March 31, 2017; and ii. Dividend of Rs. 2.25 / - RBL – Rane Brake Lining Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 17, 2017, has recommended a final dividend of Rs.9/- per equity share on 79,14,980 equity shares of Rs.10/- each fully paid up, for the financial year 2016-17. GUJRAFIA - Gujarat Raffia Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on May 15, 2017. SUZLON - Suzlon Energy Limited has informed the Exchange regarding allotment of 73158180 securities pursuant to FCCB at its meeting held on May 12, 2017 NOTICE AND CIRCULAR :

Notice No Subject Segment Name

Category Name Department

20170518-18

Listing of New Securities of L&T FINANCE HOLDINGS LTD

Equity Company related DCS-Listing

20170518-17

Listing of Units Of ICICI Prudential Fixed Maturity Plan Series 81-Plan E, a scheme under ICICI Prudential Mutual Fund

Mutual Fund Company related DCS-Listing

20170518-16

Listing of Units Of ICICI Prudential Fixed Maturity Plan Series 81-Plan G, a scheme under ICICI Prudential Mutual Fund.

Mutual Fund Company related DCS-Listing

20170518-15

Listing of New Securities of Dhabriya Polywood Ltd Equity Company related DCS-Listing

20170518-14

Opening of Offer to Buy – Acquisition Window (Buyback) for Oil India Limited

Equity Trading DCS-Listing

20170518-13

Opening of Offer to Buy – Acquisition Window (Buyback) for SKF India Limited

Equity Trading DCS-Listing

20170518-12

Listing of Securities of Vardhman Special Steels Ltd. Equity Company related DCS-Listing

20170518-11

Corporate Action – KARNATAKA BANK, COLGATE-PALMOLIVE (INDIA), RAYMOND,CAN FIN HOMES, TATA STEEL, HAVELLS INDIA, SINTEX INDUSTRIES-SLB

SLB Corporate Actions

Trading Operations

20170518-10

Demat Auction - 031 General Settlement/RMS Post Trade

20170518-9 Maturity of Mutual Fund Scheme of Tata Mutual Fund.

Mutual Fund Corporate Actions

Listing Operations

20170518-8 Redemption of Non-Convertible Debentures of Kotak Mahindra Prime Ltd.

Debt Corporate Actions

Listing Operations

20170518-7 Redemption of Debentures of IndoStar Capital Finance Limited.

Debt Index Listing Operations

20170518-6 Change in Group of Equity Shares of BHAGYANAGAR INDIA LTD

Equity Company related DCS-Listing

Corporate Action Calendar

http://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20170518-18




























BLACK FOX


Deal Date Security Code

Security Name Client Name Deal Type *

Quantity

17/05/2017 590122 ASHIKACR RAHUL S 10,666

17/05/2017 590122 ASHIKACR RAHUL B 43,975

17/05/2017 539099 ATHCON LALIT RAMAKANT SALUNKHE S 105,000

17/05/2017 536820 BOSTONTEK SAURABH JAIN S 197,450

17/05/2017 536820 BOSTONTEK PATTAMMAL N. MURLIDHARAN B 198,000

17/05/2017 539873 BRONZE VAGHELA PRAKASH KANTILAL B 34,793

17/05/2017 532938 CAPF SETU SECURITIES PRIVATE LIMITED S 500,000

17/05/2017 532938 CAPF SETU SECURITIES PRIVATE LIMITED B 500,000

17/05/2017 532938 CAPF CHETAN RASIKLAL SHAH S 894,533

17/05/2017 532938 CAPF CHETAN RASIKLAL SHAH B 896,033

17/05/2017 532938 CAPF SHANTI ENTREPRENEURS S 350,276

17/05/2017 532938 CAPF SHANTI ENTREPRENEURS B 550,752

17/05/2017 532938 CAPF MORGAN STANLEY FRANCE SAS B 1,055,200

17/05/2017 532938 CAPF MORGAN STANLEY FRANCE SAS B 2,070,400

17/05/2017 532938 CAPF CLOVERDELL INVESTMENT LIMITED S 24,300,000

17/05/2017 532938 CAPF HDFC STANDARD LIFE INSURANCE CO LTD B 500,000

17/05/2017 532938 CAPF MORGAN STANLEY (FRANCE) S.A.S B 840,000

17/05/2017 532938 CAPF GOVERNMENT OF SINGAPORE INVT CORPN PTE LTD A/C C ACCOUNT

B 8,701,476

17/05/2017 532938 CAPF NATWEST BANK PLC AS TRUSTEE OF THE JUPITER INDIA FUND

B 610,008

17/05/2017 532938 CAPF HDFC MUTUAL FUND MID - CAP OPPORTUNITIES FUND B 1,522,608

17/05/2017 532938 CAPF TNTBC AS THE TRUSTEE OF NOMURA INDIA STOCK MOTHER FUND

B 700,000

17/05/2017 519475 CHORDIA WALLFORT FINANCIAL SERVICES LTD S 22,909

BLOCK DEAL


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17/05/2017 519475 CHORDIA DARSHAN TRADING COMPANY B 19,989

17/05/2017 538882 EMERALD NARINDER KUMAR BANSAL S 27,900

17/05/2017 504351 EMPOWER ANVITA REAL ESTATE PRIVATE LIMITED S 10,284,398

17/05/2017 534757 FOCUSIRL GULSHAN PAUL & COMPANY S 136,908

17/05/2017 534757 FOCUSIRL RAJESH BIDHURI B 94,908

17/05/2017 531813 GANGAPA SAB COMPUTING PRIVATE LIMITED S 300,000

17/05/2017 531813 GANGAPA RAS POLYTEX PRIVATE LIMITED S 200,000

17/05/2017 531813 GANGAPA AMIT CHAUDHARY B 498,000

17/05/2017 531744 GINISILK ONWARD NETWORK TECHNOLOGIES PRIVATE LIMITED B 31,800

17/05/2017 538542 GOLDCOINHF NARENDRA PATEL S 16,004

17/05/2017 538542 GOLDCOINHF BIJ BUILDCON (INDIA) PRIVATE LIMITED B 28,135

17/05/2017 540377 IFL VIKRAM SHARMA S 30,000

17/05/2017 540377 IFL MSB E TRADE SECURITIES LIMITED B 24,000

17/05/2017 539910 KOCL BASANT MARKETING PRIVATE LIMITED S 95,000

17/05/2017 539910 KOCL KHANDHAR DHARIN A B 100,000

17/05/2017 532740 LOKESHMACH VIJAYA LAKSHMI BOLLINENI S 119,638

17/05/2017 539767 MNIL MANI ENTERPRISE S 30,000

17/05/2017 539767 MNIL SHREE SUPRINIT TRADINVEST PRIVATE LIMITED B 30,000

17/05/2017 540492 PGL ALACRITY SECURITIES LIMITED S 190,000

17/05/2017 540492 PGL ALACRITY SECURITIES LIMITED B 30,000

17/05/2017 539814 RADHEY SWAPNIL KASHINATH KAWLI S 42,550

17/05/2017 539814 RADHEY ATULKUMAR SHANTILAL SHAH S 31,820

17/05/2017 539814 RADHEY AMARJIT YADAV S 44,200

17/05/2017 539814 RADHEY SAMEER JAYANTILAL KAMANI B 35,300

17/05/2017 539814 RADHEY JITESHBHAI CHANDRAKANTBHAI KOTAK B 20,000

17/05/2017 539814 RADHEY ATUL BHIMJI GOHIL B 20,000

17/05/2017 539814 RADHEY PARAS VINODRAI SHAH B 40,000

17/05/2017 538921 RAFL PRIETY KURELE B 60,000

17/05/2017 538921 RAFL ACHINTYA SECURITIES PVT. LTD. S 62,500

17/05/2017 540108 RCSL SHALU S RANA S 18,500

17/05/2017 540108 RCSL SHALU S RANA S 60,678


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17/05/2017 540108 RCSL SHALU S RANA B 600

17/05/2017 540108 RCSL SYKES AND RAY EQUITIES (INDIA) LIMITED B 100,000

17/05/2017 524540 SECHE ZUBER TRADING LLP B 572,895

17/05/2017 524540 SECHE PARKWAY PROPERTIES PRIVATE LIMITED S 568,000

17/05/2017 527005 SHREEPAC ABDUL KADAR HAMID MAKANI B 21,800

17/05/2017 527005 SHREEPAC NIDHI EQUITY PRIVATE LIMITED S 25,000

17/05/2017 502465 SPECIAPP PARKWAY PROPERTIES PRIVATE LIMITED S 1,056,249

17/05/2017 502465 SPECIAPP ZUBER TRADING LLP B 1,110,531

17/05/2017 570001 TATAMTRDVR RAKESH RADHEYSHYAM JHUNJHUNWALA S 5,000,000

17/05/2017 532845 TGBHOTELS APURVA INTERNATIONAL S 170,000

17/05/2017 514302 VIPPYSP NITIN SINGH BHATI S 99,763

17/05/2017 514302 VIPPYSP NITIN SINGH BHATI B 99,763

17/05/2017 506146 VIVIDHA VICKY RAJESH JHAVERI S 1,251,794

17/05/2017 506146 VIVIDHA VICKY RAJESH JHAVERI B 1,251,794

17/05/2017 511642 WISEC BIJ BUILDCON (INDIA) PRIVATE LIMITED B 51,201


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Disclosures This document has been prepared by Black Fox Financial Pvt Ltd...... to provide information about the company(ies) and/sector(s), if any, covered in the report and may be distributed by it and/or its affiliated company(ies). This report is for personal information of the selected recipient/s and does not construe to be any investment, legal or taxation advice to you. This research report does not constitute an offer, invitation or inducement to invest in securities or other investments and Black Fox Financial Pvt Ltd is not soliciting any action based upon it. This report is not for public distribution and has been furnished to you solely for your general information and should not be reproduced or redistributed to any other person in any form. This report does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Before acting on any advice or recommendation in this material, investors should consider whether it is suitable for their particular circumstances and, if necessary, seek professional advice. The price and value of the investments referred to in this material and the income from them may go down as well as up, and investors may realize losses on any investments. Past performance is not a guide for future performance, future returns are not guaranteed and a loss of original capital may occur. Reports based on technical and derivative analysis center on studying charts company's price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamental analysis. This report is intended for distribution to institutional investors. Recipients who are not institutional investors should seek advice of their independent financial advisor prior to taking any investment decision based on this report or for any necessary explanation of its contents. Most and it’s associates may have managed or co-managed public offering of securities, may have received compensation for investment banking or merchant banking or brokerage services, may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Most and it’s associates have not received any compensation or other benefits from the subject company or third party in connection with the research report. Subject Company may have been a client of Most or its associates during twelve months preceding the date of distribution of the research report its affiliates and/or employees may have interests/positions, financial or otherwise of over 1 % at the end of the month immediately preceding the date of publication of the research in the securities mentioned in this report.

There are no material disciplinary action that been taken by any regulatory authority impacting equity

research analysis activities

Analyst Certification The views expressed in this research report accurately reflect the personal views of the analyst(s) about the subject securities or issues, and no part of the compensation of the research analyst(s) was, is, or will be directly or indirectly related to the specific recommendations and views expressed by research analyst(s) in this report. The research analysts, strategists, or research associates principally responsible for preparation of research receive compensation based upon various factors, including quality of research, investor client feedback, stock picking, competitive factors and firm revenues

Disclosure of Interest Statement Analyst ownership of the stock No Served as an officer, director or employee No

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Most Market Roundup BLACK FOXblackfoxindia.com/Admin/Researchpdf/1001748469... · Most Market Roundup May 18th,2017 BLACK FOX EQUITY Market Sensex 30434.79 (-0.73) Nifty 9429.45 (-1.01)

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