religare morning digest · current chart pattern also indicates further decline ... andhra pradesh...

11
1 Disclaimer: http://www.religareonline.com/research/Disclaimer/ Religare Morning Digest May 21, 2018 Nifty Outlook VWAP (Expiry till date) Max OI (Call) Max OI (Put) NIFTY 10700 11000 10500 The bears continued to dominate, as the Indian equity benchmark indices fell for fourth straight session, led by weak domestic sentiments. The Nifty index fell by 86 points to close at 10,596 levels. Investors remained cautious on developments ahead of formation of government in Karnataka and US-China trade negotiations. Further, weak INR vs USD also impacted the sentiments. The broader market indices underperformed, with BSE Smallcap & Midcap closing down by 1.6% & 1.5% respectively. Barring FMCG, which ended with decent gains, all the other sectoral indices closed sharply in the red. Capital Goods, Metals, Healthcare, Auto, Oil & Gas & Power were the top losers, down 1.5-3%. Amongst the global indices, the Asian and European markets traded on a mixed note. With lack of any fresh positive triggers globally and on the domestic bourses, we expect the markets to consolidate in the near term. However, the ongoing correction should be considered as good opportunity for long term investors to accumulate fundamentally sound stocks on dips. With more corporate earnings scheduled in the next week, stock specific volatility would continue to remain high. The behaviour of crude oil prices and movement of INR vs USD will be closely monitored in the coming sessions. Traders should strictly avoid overleveraged positions. Sectors to watch Sector Name Outlook AUTO STABLE IT STABLE FMCG STABLE News Religare Super Ideas** FII & DII Cash Segment (Rs. in Cr.) Category Amt. MTD FYTD FII** -831 -5759 -16385 DII** 429 7235 16358 Derivative Ideas ** Bajaj Auto reported healthy numbers in Q4FY18 with 34.7% YoY growth in net profit at Rs 1,079.9cr, led by a sustained growth in exports and a revival in domestic demand. Net sales increased by 29.9% YoY to Rs 6,651cr. Share price of Strides Shasun fell sharply by 23% after the company reported consolidated loss at Rs 4.4cr for Q4FY18 compared to net profit of Rs 91.6cr reported in Q4FY17. Revenue from operations fell by 1.9% YoY to Rs 664.2cr. EBITDA declined by 33.2% to Rs 86.5cr. Ashok Leyland reported 40% YoY rise in its standalone net profit for Q4FY18 at Rs 667.2cr. Net sales increased by 24% YoY to Rs 8,773cr, led by increased retail demand. **Provisional data as on 17th May 2018 Scrip Buy/Sell CMP Initiation Range SL* Target GRASIM SELL FUTS 1066.65 1085-1095 1120 1040 TATATSEEL SELL FUTS 593 605-610 625 575 Instrument B/S Lot INITIATION RANGE SL TAR- GET AXISBANK SELL FUTS 1200 541-540 554 514 **Please note that the given technical and derivative recommendations are "valid for taking position" only on recommended date and in the given range. *Please note - Stoploss is on closing basis for delivery recommendation and intraday basis for futures recommendation. Trade Stats NO OF CON- TRACTS TURNOVER IN CR IDXFUTS 197559 17315 IDXOPT 4405731 404511 STKFUTS 873313 50923

Upload: vannhu

Post on 07-Jul-2018

223 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

1 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Nifty Outlook

VWAP (Expiry till date) Max OI (Call) Max OI (Put)

NIFTY 10700 11000 10500

The bears continued to dominate, as the Indian equity benchmark indices fell for fourth straight session, led by weak domestic sentiments. The Nifty index fell by 86 points to close at 10,596 levels. Investors remained cautious on developments ahead of formation of government in Karnataka and US-China trade negotiations. Further, weak INR vs USD also impacted the sentiments. The broader market indices underperformed, with BSE Smallcap & Midcap closing down by 1.6% & 1.5% respectively. Barring FMCG, which ended with decent gains, all the other sectoral indices closed sharply in the red. Capital Goods, Metals, Healthcare, Auto, Oil & Gas & Power were the top losers, down 1.5-3%. Amongst the global indices, the Asian and European markets traded on a mixed note.

With lack of any fresh positive triggers globally and on the domestic bourses, we expect the markets to consolidate in the near term. However, the ongoing correction should be considered as good opportunity for long term investors to accumulate fundamentally sound stocks on dips. With more corporate earnings scheduled in the next week, stock specific volatility would continue to remain high. The behaviour of crude oil prices and movement of INR vs USD will be closely monitored in the coming sessions. Traders should strictly avoid overleveraged positions.

Sectors to watch

Sector Name Outlook

AUTO STABLE

IT STABLE

FMCG STABLE

News Religare Super Ideas**

FII & DII Cash Segment (Rs. in Cr.)

Category Amt. MTD FYTD

FII** -831 -5759 -16385

DII** 429 7235 16358

Derivative Ideas **

Bajaj Auto reported healthy numbers in Q4FY18 with 34.7% YoY growth in net profit at Rs 1,079.9cr, led by a sustained growth in exports and a revival in domestic demand. Net sales increased by 29.9% YoY to Rs 6,651cr.

Share price of Strides Shasun fell sharply by 23% after the company reported consolidated loss at Rs 4.4cr for Q4FY18 compared to net profit of Rs 91.6cr reported in Q4FY17. Revenue from operations fell by 1.9% YoY to Rs 664.2cr. EBITDA declined by 33.2% to Rs 86.5cr.

Ashok Leyland reported 40% YoY rise in its standalone net profit for Q4FY18 at Rs 667.2cr. Net sales increased by 24% YoY to Rs 8,773cr, led by increased retail demand.

**Provisional data as on 17th May 2018

Scrip Buy/Sell CMP Initiation

Range SL* Target

GRASIM SELL

FUTS 1066.65 1085-1095 1120 1040

TATATSEEL SELL

FUTS 593 605-610 625 575

Instrument B/S Lot INITIATION

RANGE SL

TAR-GET

AXISBANK SELL FUTS

1200 541-540 554 514

**Please note that the given technical and derivative recommendations are

"valid for taking position" only on recommended date and in the given range.

*Please note - Stoploss is on closing basis for delivery recommendation and

intraday basis for futures recommendation.

Trade Stats

NO OF CON-

TRACTS

TURNOVER IN CR

IDXFUTS 197559 17315

IDXOPT 4405731 404511

STKFUTS 873313 50923

Page 2: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

2 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Investment Pick - Navneet Education Ltd.

Navneet Education Ltd. (NEL) delivered subdued set of numbers for Q4FY18 in which Revenue grew by 3.5% yoy. The EBITDA de-grew by 18.1%, as EBITDA margin shrunk to 11.2% in Q4FY18. Net profit for the quarter de-grew by 10.7%.

Nonetheless, We maintain buy on the stock as syllabus change in Maharashtra and Gujarat in FY19 and introduction of new workbooks (Indiannica) augur well for NEL’s publication revenue growth. Further, continuous branding effort and higher exports will drive growth in the stationery segment.

Scrip CMP Target Duration Recommendation Price

Navneet Education Ltd. 139.3 188 9-12 Months 139

AXISBANK added around 2% in open interest as short buildup was seen in it in previous session.

Current chart pattern also indicates further decline in its price. We suggest selling AXISBANK Futs as

per below levels.

Strategy: Sell AXISBANK Futs between 541-540,

SL-554, TGT – 514 for 4-6 trading sessions.

Derivative Ideas Religare Super Ideas Religare Super Ideas Religare Super Ideas

Grasim Industries Limited (GRASIM) Tata Steel Limited (TATASTEEL)

GRASIM has been struggling around the resistance zone of multiple moving average for last couple of

months and now trading on the verge of breakdown. We advise using any uptick to create

fresh short in the given range.

Though, TATASTEEL has witnessed marginal recovery of late but it has failed to cross its

resistance barrier around 630 mark on daily chart. Indications are in favor of fresh fall ahead. We

suggest traders to initiate fresh short position as per the mentioned levels.

Page 3: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

3 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Religare Investment Calls

Name of the Company Reco Date Reco Price Target Price Upside % Previous day Closing Price

CRISIL 01-Aug-17 1,858 2,419 30.2% 1,687.8

LIC Housing Finance 09-Aug-17 681 748 9.8% 481.4

The Byke Hospitality 17-Aug-17 195 242 24.1% 174.4

Tata Communications 18-Sept-17 708 822 16.1% 610.1

Force Motors 25-Jan-18 3,250 4,197 29.1% 2,758.1

Swaraj Engines Ltd 25-Jan-18 1,989 2,426 22.0% 1,967.2

Nilkamal Ltd. 30-Jan-18 1,837 2,231 21.5% 1,674.5

APL Apollo Tubes 31-Jan-18 2,255 2,559 13.5% 1,984.8

Symphony Ltd. 31-Jan-18 1,815 2,160 19.0% 1,673.7

Manpasand Beverages 1-Feb-18 378 483 27.8% 432.7

Bharat Electronics Ltd. 7-Feb-18 149 217 45.6% 121.5

Kajaria Ceramics Ltd. 7-Feb-18 589 775 31.5% 541.4

Mold-Tek Packaging 8-Feb-18 346 379 9.5% 338.1

Srikalahasthi Pipes Ltd 8-Feb-18 354 429 21.2% 312.6

Castrol India Ltd 12-Feb-18 199 238 19.6% 172.7

Eicher Motors Ltd 12-Feb-18 27,748 34,600 24.7% 30,086.2

Avanti Feeds 12-Feb-18 2,504 2,980 19.0% 2,044.4

Talwalkars Better Value Fitness 12-Feb-18 304 350 15.1% 50.7

NRB Bearings 14-Feb-18 165 198 20.0% 161.6

S Chand & Company 14-Feb-18 472 640 35.6% 372.2

Sutlej Textiles 15-Feb-18 84 105 25.2% 61.2

Minda Corporation 15-Feb-18 203 231 13.8% 176.4

Wonderla Holidays 16-Feb-18 386 411 6.5% 366.1

Garware Wall Ropes Ltd 16-Feb-18 950 1,074 13.1% 919.0

Fiem Industries 19-Feb-18 899 1,315 46.3% 848.9

SML Isuzu 22-Feb-18 795 1,114 40.1% 759.8

Asian Granito India Ltd. 22-Feb-18 498 642 28.9% 452.0

Time Technoplast 23-Feb-18 185 249 34.6% 130.4

Century Plyboards 27-Feb-18 326 368 12.9% 259.4

Supreme Industries Ltd. 03-Apr-18 1,195 1,473 23.3% 1,293.2

Prabhat Dairy Ltd. 02-May-18 179 230 28.8% 176.0

Navneet Education 17-May-18 139 188 35.3% 139.3

Page 4: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

4 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Corporate Action Calendar — May 2018 (Cash Dividend)

Sun Mon Tue Wed Thu Fri Sat

20 21

Merck Ltd/India

Mold-Tek Technologies

Ltd

Mold-Tek Packaging Ltd

22

Raymond Ltd

R Systems International Ltd

23

GHCL Ltd

Gateway Distriparks Ltd

24

DCB Bank Ltd

Trident Ltd/India

Ingersoll Rand India Ltd

25

ITC Ltd

26

Economic Calendar — May 2018

Sun Mon Tue Wed Thu Fri Sat

20 21

22

23

24

25

Eight Infrastructure Industries

26

Corporate Action Calendar — May 2018 (Acquisition)

Date Target Company Acquirer Company

5/24/2018

5/25/2018

Zandu Realty Ltd

Envair Electrodyne Ltd

Emami Infrastructure Ltd

Private Investor

Corporate Action Calendar — May 2018 (Stock Split)

Sun Mon Tue Wed Thu Fri Sat

20 21 22 23 24 25 26

Corporate Action Calendar — May 2018 (Stock Dividend)

Sun Mon Tue Wed Thu Fri Sat

20 21

GM Breweries Ltd

22

23

Coastal Corp Ltd

24

25

26

Page 5: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

5 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Result Calendar — May 2018

Su Mon Tue Wed Thu Fri Sat

20 21

63 Moons Technologies Ltd

ABans Enterprises Ltd

ACTION CONSTRUCTION

EQUIPMENT LTD.

ALCHEMIST LTD.

AMALGAMATED ELECTRICITY

CO.LTD.

ALCHEMIST REALTY LTD.

ASHIANA AGRO INDUSTRIES

LTD.

ASIAN VEGPRO INDUSTRIES

LTD.

Aster DM Healthcare Ltd

ASTRAZENECA PHARMA INDIA

LTD.

ATV PROJECTS INDIA LTD.

AYM Syntex Ltd

BOMBAY BURMAH TRADING

CORP.LTD.

BHAGIRADHA CHEMICALS &

INDUSTRIES LTD.

Bigbloc Construction Ltd

BALMER LAWRIE INVEST-

MENTS LTD.

B & A LTD.

BOMBAY WIRE ROPES LTD.

CCL PRODUCTS (INDIA) LTD.

CIGNITI TECHNOLOGIES LTD.

COLGATE-PALMOLIVE (INDIA)

LTD.

22

Aditya Consumer Market-

ing Ltd

ALLCARGO LOGISTICS

LTD.

ANDHRA BANK

APL APOLLO TUBES LTD.

ANDHRA PRADESH TAN-

NERIES LTD.

Aditya Vision Ltd

AXTEL INDUSTRIES LTD.

BALLARPUR INDUSTRIES

LTD.

BATA INDIA LTD.

BATLIBOI LTD.-$

BEMCO HYDRAULICS LTD.

BHARAT FORGE LTD.

BLS International Services

Ltd

BOSCH LTD.

CAPITAL TRUST LTD.

CARE Ratings Ltd

CIL SECURITIES LTD.

CIPLA LTD.

CRESTCHEM LTD.

DHANUKA AGRITECH

LTD.

DR.REDDY'S LABORATO-

RIES LTD.

ELEGANT MARBLES &

23

ADC India Communications

Limited

AMRIT CORP.LTD.

Apollo Pipes Ltd.

ARCHIES LTD.

ARIES AGRO LTD.

ASIT C.MEHTA FINANCIAL

SERVICES LTD.

Arihant Superstructures Lim-

ited

ASTRAL POLY TECHNIK LTD.

ATLAS CYCLES (HARYANA)

LTD.

BAJAJ ELECTRICALS LTD.

BAYER CROPSCIENCE LTD.

BIRLA COTSYN (INDIA) LTD.

BLACK ROSE INDUSTRIES

LTD.

BPL LTD.

Blue Pearl Texspin Limited

CESC LTD.

CHEVIOT CO.LTD.

CHAMBAL BREWERIES &

DISTILLERIES LTD.

CL Educate Ltd.

CORAL LABORATORIES LTD.

COSMO FILMS LTD.

CUBICAL FINANCIAL SER-

VICES LTD.

24

20 MICRONS LTD.

AARVEE DENIMS & EXPORTS

LTD.

Atlas Jewellery India Limited

AJMERA REALTY & INFRA

INDIA LTD.

ALLSEC TECHNOLOGIES LTD.

Alstone Textiles (India) Ltd.

AMFORGE INDUSTRIES LTD.

Amrapali Fincap Ltd.

AMRUTANJAN HEALTH CARE

LTD.

ANAR INDUSTRIES LTD.

ANDHRA PETROCHEMICALS

LTD.

ARC Finance Ltd.

ASHISH POLYPLAST LTD.

ASHOK ALCO-CHEM LTD.

ASM TECHNOLOGIES LTD.

ASIAN STAR CO.LTD.

Birla Cable Ltd.

CAMLIN FINE SCIENCES LTD.

CISTRO TELELINK LTD.

Cochin Shipyard Ltd

CITY UNION BANK LTD.

CUMMINS INDIA LTD.

LT FOODS LTD.

Delta Industrial Resources

25

SAVEN TECHNOLOGIES LTD.

Aayush Food and Herbs Ltd.

Abhijit Trading Company Ltd.

Ace Men Engg Works Ltd.

Advik Capital Ltd.

Advitiya Trade India Ltd.

AGI Infra Ltd.

AGIO PAPER & INDUSTRIES

LTD.

Apex Home Finance Ltd

AIMCO PESTICIDES LTD.

ALMONDZ GLOBAL SECURI-

TIES LTD.

Amber Enterprises India Ltd

AMBIKA COTTON MILLS LTD.

AMD INDUSTRIES LTD.

ANSAL PROPERTIES & INFRA-

STRUCTURE LTD.

ANUH PHARMA LTD.

ANJANI PORTLAND CEMENT

LTD.

ARMAN FINANCIAL SERVICES

LTD.

Asahi Industries Limited

ASHIRWAD CAPITAL LTD.

Atishay Ltd.

ATN INTERNATIONAL LTD.

AVANTEL LTD.

26

3P Land Holdings Ltd

Amrapali Capital and

Finance Services Ltd

Acme Resources Ltd

ALPA LABORATO-

RIES LTD.

AMJ Land Holdings

Ltd

ASI Industries Ltd

AVANTI FEEDS LTD.-

$

BHAGWATI AUTO-

CAST LTD.

Bhagyanagar Proper-

ties Ltd

BHAGYANAGAR IN-

DIA LTD.

BNK CAPITAL MAR-

KETS LTD.

Capri Global Capital

Limited

CHOKSI IMAGING

LTD.

CORPORATION

BANK

DAMODAR INDUS-

TRIES LTD.

DB

(INTERNATIONAL)

STOCK BROKERS

LTD.

Page 6: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

6 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Result Calendar — May 2018

S Mon Tue Wed Thu Fri Sat

20 21

CONTINENTAL CHEMICALS LTD.

DATASOFT APPLICATION SOFT-

WARE (INDIA) LTD.

Dhunseri Tea & Industries Ltd

DLF LTD.

Dhunseri Petrochem Limited-$

Future Retail Ltd

GALLANTT METAL LTD.

GALLANTT ISPAT LTD.

Garv Industries Ltd

GLOBUS SPIRITS LTD.

Gaurav Mercantiles Ltd

GOKUL REFOILS & SOLVENT LTD.

GUJARAT STATE PETRONET LTD.

HARYANA LEATHER CHEMICALS

LTD.

HATSUN AGRO PRODUCT LTD.

HIMALCHULI FOOD PRODUCTS LTD.

The Hi-Tech Gears Ltd

HPL Electric & Power Ltd

IL&FS Transportation Networks Ltd

INDIAN METALS & FERRO ALLOYS

LTD.

INVICTA MEDITEK LTD.

I-POWER SOLUTIONS INDIA LTD.

JINDAL WORLDWIDE LTD.

22

EURO ASIA EXPORTS LTD.

EURO MULTIVISION LTD.

EVERLON SYNTHETICS

LTD.

FAZE THREE LTD.

Future Consumer Ltd

FERRO ALLOYS CORPO-

RATION LTD.

Genus Paper & Boards Ltd

GE Power India Ltd

GUJARAT TOOLROOM

LTD.

GULSHAN POLYOLS LTD.

HAZOOR MULTI PRO-

JECTS LTD.

HealthCare Global Enter-

prises Ltd.

HCKK Ventures Ltd.

HERCULES HOISTS LTD.

HINDUSTAN PETROLEUM

CORPORATION LTD.

HISAR SPINNING MILLS

LTD.

INDIAN BRIGHT STEEL

CO.LTD.

IGARASHI MOTORS INDIA

LTD.

INDO CREDIT CAPITAL

LTD.

23

DECCAN GOLD MINES LTD.

DECO-MICA LTD.

Dhanlaxmi Bank Limited

ECLERX SERVICES LTD.

ENTERTAINMENT NETWORK

(INDIA) LTD.

EROS INTERNATIONAL MEDIA

LTD.

FGP LTD.

FINOLEX INDUSTRIES LTD.

Franklin Leasing and Finance Ltd

GeeCee Ventures Limited

GE T&D India Ltd.

GODREJ INDUSTRIES LTD.

GOLDEN GOENKA FINCORP

LIMITED

GRASIM INDUSTRIES LTD.

GVK POWER & INFRASTRUC-

TURE LTD.

Sri Havisha Hospitality And In-

frastructure Ltd

H.G. Infra Engineering Ltd

HINDUSTAN FLUOROCARBONS

LTD.

IFCI LTD.

INDRAPRASTHA GAS LTD.

IKF TECHNOLOGIES LTD.

24

Denis Chem Lab Ltd.

Digjam Ltd.

DION GLOBAL SOLUTIONS

LTD.

DISA INDIA LTD.

DOLPHIN OFFSHORE EN-

TERPRISES (INDIA) LTD.

ELANGO INDUSTRIES LTD.

ENVAIR ELECTRODYNE LTD.

FENOPLAST LTD.

FERVENT SYNERGIES LTD.

FOODS & INNS LTD.

Fruition Venture Ltd.

GAIL (INDIA) LTD.

GUJARAT INDUSTRIES POW-

ER CO.LTD.

GLAXOSMITHKLINE PHAR-

MACEUTICALS LTD.

GOKALDAS EXPORTS LTD.

GOODRICKE GROUP LTD.

GOWRA LEASING & FINANCE

LTD.

GUJARAT ALKALIES &

CHEMICALS LTD.

Haldyn Glass Ltd.

HARYANA CAPFIN LTD.

HEIDELBERGCEMENT INDIA

LTD.

25

AXEL POLYMERS LTD.

BAGADIA COLOURCHEM

LTD.

BANNARI AMMAN SUGARS

LTD.

BANK OF BARODA

BARTRONICS INDIA LTD.

BEML LTD.

Bangalore Fort Farms Ltd

Oswal Greentech Ltd

BLUE CHIP INDIA LTD.

Beekay Niryat Ltd

BOMBAY CYCLE & MOTOR

AGENCY LTD.

BHILWARA TECHNICAL

TEXTILES LTD.

CADILA HEALTHCARE LTD.

CANTABIL RETAIL INDIA

LTD.

Captain Pipes Ltd

CARNATION INDUSTRIES

LTD.

COMMERCIAL ENGINEERS

& BODY BUILDERS CO. LTD.

Chamak Holdings Ltd

CHARMS INDUSTRIES LTD.

CHEMO PHARMA LABORA-

TORIES LTD.

26

DEEP INDUSTRIES

LTD.

DELTRON LTD.

DIVI'S LABORATO-

RIES LTD.

Dixon Technolo-

gies (India) Ltd

DYNEMIC PROD-

UCTS LTD.

EUROTEX INDUS-

TRIES & EXPORTS

LTD.

Five X Tradecom

Ltd

FLEX FOODS LTD.-

$

FRESHTROP

FRUITS LTD.

GALADA POWER &

TELECOMMUNICA-

TION LTD.

GRM OVERSEAS

LTD.

GUJARAT COTEX

LTD.

HIGH ENERGY

BATTERIES (INDIA)

LTD.

ID Info Business

Services Ltd

JAY USHIN LTD.

For complete schedule of more Company results click here.

Page 7: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

7 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Current Portfolio and Performance Summary as on 18th May’18

Stock Sector Entry Date Weight Reco price (`) CMP (`)

Amara Raja Batteries Auto Mar 22, 2017 10.5% 868 832

RBL Bank Financial Services July 11, 2017 9.2% 532 509

Muthoot Finance Financial Services July 26, 2017 8.6% 482 412

Va Tech Wabag Infrastructure August 16, 2017 7.1% 636 456

Can Fin Homes Financial Services September 19, 2017 7.6% 572 369

CARE Financial Services September 20, 2017 9.3% 1,493 1,275

Yes Bank Financial Services January 5, 2018 11.5% 322 346

Godfrey Phillips India Consumer Goods January 5, 2018 8.2% 1,022 784

CCL Products Beverages January 9, 2018 11.2% 306 316

Cash 16.8%

Total 100%

Page 8: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

8 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Historical Performance as on 18th May’18

Performance Matrix 3-Month 6-Month 1-Year Since Inception

Religare Alpha -5.1% 0.2% -1.7% 35.8%

Nifty 0.5% 3.0% 12.4% 34.4%

Outperformance -5.6% -2.8% -14.1% 1.4%

850

950

1,050

1,150

1,250

1,350

1,450

1,550

10

/13

/20

14

11

/13

/20

14

12

/13

/20

14

1/1

3/20

15

2/1

3/20

15

3/1

3/20

15

4/1

3/20

15

5/1

3/20

15

6/1

3/20

15

7/1

3/20

15

8/1

3/20

15

9/1

3/20

15

10

/13

/20

15

11

/13

/20

15

12

/13

/20

15

1/1

3/20

16

2/1

3/20

16

3/1

3/20

16

4/1

3/20

16

5/1

3/20

16

6/1

3/20

16

7/1

3/20

16

8/1

3/20

16

9/1

3/20

16

10

/13

/20

16

11

/13

/20

16

12

/13

/20

16

1/1

3/20

17

2/1

3/20

17

3/1

3/20

17

4/1

3/20

17

5/1

3/20

17

6/1

3/20

17

7/1

3/20

17

8/1

3/20

17

9/1

3/20

17

10

/13

/20

17

11

/13

/20

17

12

/13

/20

17

1/1

3/20

18

2/1

3/20

18

3/1

3/20

18

4/1

3/20

18

5/1

3/20

18

Performance Comparison

Religare Alpha Nifty

Page 9: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

9 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Research Product Basket

For cash market trading

Call / Product Call Frequency No. of calls Avg open call duration % funds allocated

Intraday Calls Intraday 2 - 3 < 1 day 25%

Live / RMD Calls Daily 3 - 4 3 - 4 days 30%

Master Pick Weekly 1 1 month 15%

Religare Alpha Opportunity NA 2 - 3 months 20%

Cash NA 10%

For 1L margin*

Total Per Call

25,000 8,000

30,000 4,000

15,000 5,000

20,000 As per weightage

10,000

Intraday Calls These calls are flashed live on Ms Lync and ODIN with the purpose of squaring off positions on the same day. As a policy, we restrict our

intraday cash market calls to less than 4 calls a day. Hence, funds should be allocated accordingly to have provision to trade in all calls.

Live / RMD Calls 2 super ideas are flashed in RMD daily with a view of 3-4 days. Additionally as per market opportunity, we flash live calls during the day (including BTST calls). 3-4 such calls are made on a daily basis which might be open for 3-4 days. Funds should be allocated keeping in mind that

there will be 7-8 such open calls daily.

Master Pick This is our weekly recommendation shortlisted on the basis of techno-funda analysis. 15% of funds is recommended to be allocated for Master Pick considering that there will be 3 open calls. The average open duration for this call will be 1 month.

Religare Alpha This is a portfolio of 8-10 stocks which are held with a view of 2-3 months. It is recommended to allocate 20% of funds for building this portfolio which will provide stability to the overall trading portfolio.

Cash 10% surplus cash in the portfolio should be kept for the purposes of allocating it to opportunities as and when they arrive.

For derivative market trading

Call / Product Call Frequency No. of calls Avg open call duration % funds allocated

Derivative Ideas Daily 1 - 2 1 - 3 days 40%

Live calls Intraday / Daily 1 - 2 3 - 4 days 50%

Cash NA 10%

For 1L margin*

Total Per Call

40,000 40,000

50,000 50,000

10,000

Derivative Ideas 1 derivative idea is shared in RMD daily. It can be a plain vanilla F&O buy/sell call or an option strategy. Funds should be allocated assuming 2

such calls will be open at any time. These calls are open for 3-4 days on an average.

Live Calls These calls are flashed on MS Lync and ODIN during live market hours. These calls can be intraday or with a view of 2-3 days. Funds should be

allocated considering 2 such calls will be open at any time. 3/4 times, these calls will be on Nifty / Bank Nifty only.

Cash It is recommended to hold 10% cash to capitalize on any opportunity that may arise in markets.

For every client, the advisor must allocate a specific proportion of funds for trading and investing depending on the risk taking ability and willingness of the client

and their investment goals.

The below mentioned product basket tries to address the way to deal with the trading portfolio (cash/derivative) for optimum effectiveness of research calls.

It is recommended to divide your trading funds for various types of calls and not invest the entire amount for 1 or 2 calls only.

Page 10: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

10 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Hitesh Agrawal [email protected]

Ajit Mishra [email protected]

Manoj M Vayalar [email protected]

Mehernosh Khurshed Panthaki [email protected]

Nirvi Ashar [email protected]

Rohit Khatri [email protected]

Suhanee Shome [email protected]

Team Members

Page 11: Religare Morning Digest · Current chart pattern also indicates further decline ... ANDHRA PRADESH TAN-NERIES LTD. ... Delta Industrial Resources 25

11 Disclaimer: http://www.religareonline.com/research/Disclaimer/

Religare Morning Digest

May 21, 2018

Before you use this research report , please ensure to go through the disclosure inter-alia as required under Securities and Exchange Board of India (Research Analysts) Regulations, 2014 and Research Disclaimer at the following link : http://old.religareonline.com/research/Disclaimer/Disclaimer_RSL.html

Specific analyst(s) specific disclosure(s) inter-alia as required under Securities and Exchange Board of India (Research Analysts) Regulations, 2014 is/are as under:

Statements on ownership and material conflicts of interest , compensation– Research Analyst (RA)

[Please note that only in case of multiple RAs, if in the event answers differ inter-se between the RAs, then RA specific answer with respect to questions under F (a) to F(j) below , are given separately]

Nature of Interest ( if answer to F (a) above is Yes : ……………………………………………………………………………………………………………………

Name(s) with Signature(s) of RA(s).

[Please note that only in case of multiple RAs and if the answers differ inter-se between the RAs, then RA specific answer with respect to questions under F (a) to F(j) above , are given below]

Copyright in this document vests exclusively with RSL. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any

other person or published, copied, in whole or in part, for any purpose, without prior written permission from RSL. We do not guarantee the integrity of any emails or attached files and are not responsible for any changes made to them by any other person.

S. No. Statement Answer

Yes No

I/we or any of my/our relative has any financial interest in the subject company? [If answer is yes, nature of Interest is given below this table] No

I/we or any of my/our relatives, have actual/beneficial ownership of one per cent. or more securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance?

No

I/we or any of my/our relative, has any other material conflict of interest at the time of publication of the research report or at the time of public appearance?

No

I/we have received any compensation from the subject company in the past twelve months? No

I/we have managed or co-managed public offering of securities for the subject company in the past twelve months? No

I/we have received any compensation for brokerage services from the subject company in the past twelve months? No

I/we have received any compensation for products or services other than brokerage services from the subject company in the past twelve months? No

I/we have received any compensation or other benefits from the subject company or third party in connection with the research report? No

I/we have served as an officer, director or employee of the subject company? No

I/we have been engaged in market making activity for the subject company? No

SS..No. Name(s) of RA.

Signtures of RA

Serial Question of question which the signing RA needs to make a separate declaration / answer

Yes No.