1

EQUITY

Latest 1 Day P/E* P/B*

SENSEX 29,409.5 0.6 21.8 2.9

NIFTY 9,100.8 0.6 22.4 2.9

CNXMIDCAP 17,034.3 0.6 28.0 2.1

28-Mar-17

*Source: Bloomberg

NET INFLOWS (Rs. Crs.) 24-Mar-17

NET MTD YTD

FII 583.6 (7416.0) 10162.9

MF** (174.5) 19971.3 30516.0

*YTD From January till date **As on 23-Mar-17

29 March 2017

Sushil Financial Services Private Limited Member BSE : SEBI Regn.No. INB/F010982338 | NSE : SEBI Regn.No.INB/F230607435. Regd. Office : 12, Homji Street, Fort, Mumbai 400 001. Phone: +91 22 40936000 Fax: +91 22 22665758 Email : info@sushilfinance.com

Please refer to important disclosures at the end of the report For private Circulation Only.

28-Mar-17

Latest Points % Chg.

NIKKEI 225 * 19197.4 (5.5) (0.0)

HANG SENG * 24400.3 54.5 0.2

DOWJONES 20701.5 150.5 0.7

NASDAQ 5875.1 34.8 0.6

SGX NIFTY FUT* 9146.0 32.5 0.4

INFY 15.7 (0.0) (0.2)

HDFC BANK 74.0 (0.5) (0.7)

ICICI BANK 8.6 0.1 0.8

TATA MOTORS 36.2 0.1 0.4

WIPRO 10.2 0.0 0.2

DR REDDY 40.1 (0.2) (0.5)

* At 08:20 a.m. IST on 29-Mar-17

WORLD INDICES & INDIAN ADRs (US$)

COMMODITIES 28-Mar-17

Latest Points % Chg.

GOLD 1248.7 (3.2) (0.3)

CRUDE OIL (WTI) 48.5 0.2 0.4

CRUDE OIL (Brent) 51.5 0.1 0.3

FII ACTIVITIES IN DERIVATIVES 28-Mar-17

FII Net Buy (Rs.

Crs)

Open

Interest

Ch. in Open

Int. (DOD)Index Futures 299.7 33144.5 16.6

Index Options (457.4) 76836.0 0.8

Stock Futures 865.3 90425.9 15.6

Stock Options (21.6) 8592.5 (1.1)

28-Mar-17

Closing % Chg.

Dollar Index 99.7 0.01

Rs. / $ 65.0 (0.57)

Rs. / EURO 70.7 0.07

Rs. / UK Sterling 81.7 (0.32)

EXCHANGE RATE

G.SEC. YIELD 28-Mar-17

Yield (%)

GS CG2025 8.2% 6.71

US 10 Year Gsec 2.42

KEY OVERNIGHT DEVELOPMENTS

Wall street ended sharply higher on Tuesday, with financial and energy

shares surging as data showed US consumer confidence soaring to a more

than 16-year high. Asian shares inched ahead on Wednesday while the dollar

and commodities rallied as investors shook off disappointment about US

President Donald Trump's failed healthcare bill and focussed on an improving

outlook for global growth.

MUST KNOW…. Technofab Engineering up on Rs.255 crore orders win from Power Grid

(Rs.195, +6%)

Dishman Pharma rises on USFDA approval for cancer drug (Rs.278, +20%)

Eyeing over Rs.500 cr revenues for FY17; take exports to 15%: Vadilal

Industries (Rs.920, +3%)

Aim to build organically, expand network to tier III, IV cities: PVR (Rs.1433,

+1%)

Dilip Buildcon emerged lowest bidder for Maharashtra projects (Rs.340, -

1%)

Aurobindo Pharma up, gets USFDA approval for Meropenem Injection

(Rs.679, +1%)

ICICI Bank partners Truecaller for UPI-based mobile payment (Rs.277, +1%)

Ashok Leyland to invest Rs.400 cr on new LCV development (Rs.86, +1%)

Pincon Spirits buys 100 vehicles from Tata Motors (Rs.65, +4%)

V-Guard board okays acquisition of Guts Electromech (Rs.170, +1%)

Britannia forms joint venture with Chipita of Greece (Rs.3342, +1%)

Hero MotoCorp promoter entity buys shares worth Rs.2,996 cr (Rs.3328,

0%)

Kotak Bank likely to buyout M&M Financial Services (Rs.860, -1%)

Indian Oil to supply fuel to Nepal for the next five years (Rs.370, 0%)

SEBI order based on untenable reasoning, says Reliance Ind (Rs.1246, 0%)

Airtel sells 10.3% stake in Bharti Infratel to KKR, Canada pension board for

Rs. 6,194 cr (Rs,341, +1%)

Suven Life gets product patent for neuro-degenerative molecule (Rs.169,

+1%)

Monsanto termination of sub-licence with Indian co illegal: HC (Rs.2510,

0%)

Lux Industries is merchandise partner of KKR (Rs.675, 0%)

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Corporate Announcements & Financial Scoreboard Technofab Engineering up on Rs.255 crore orders win from Power Grid (Rs.195, +6%)

Shares of Technofab Engineering rose as it has won orders from Power Grid and Ministry of Agriculture and

Animal Resources. The company received three orders from Power Grid Corporation of India worth of

Rs.255 crore in the State of Tripura. All three orders are in the industrial and rural electrification sector and

the works related to 33/11 KV sub stations & associated lines. The orders have a timeline of 33 months for

completion. It has also received one order from the Ministry of Agriculture and Animal Resources, Kigali,

Rwanda for construction contract for establishment of centre of excellence in farm mechanization for USD

12.29 mn exclusive of taxes and duties in Rwanda. The order has a timeline of 12 months for completion.

Dishman Pharma rises on USFDA approval for cancer drug (Rs.278, +20%)

Shares of Dishman Pharmaceuticals & Chemicals rose on the back of USFDA approval for its cancer drug.

The company has received United States Food and Drug Administration (USFDA) approval for cancer drug

Zejula Capsules, for Tesaro Inc. "There are several products pending for approval and will be in talks with

Tisaro for further action. It is tough to predict revenue potential from Zejula approval," said JR Vyas, CMD

of Dishman Pharma.

Eyeing over Rs.500 cr revenues for FY17; take exports to 15%: Vadilal Industries (Rs.920, +3%)

With the onset of Summer and days getting hotter by the day, most of the FMCG companies dealing in air

conditioners, coolers, ice creams etc are in focus. The stock price of one such ice cream company Vadilal

industries has been buzzing in trade and has witnessed 38% gains this month and is up 86% this year. To

meet the expected demand for the summer season the company has already commissioned three

production lines, said Rajesh Gandhi, CMD, Vadilal Industries, adding that distributors now have increased

to 850 from 800 and retail outlets have increased to 60,000 from 55,000. With the sugar and milk prices on

the rise, the company had taken price hike of around 5% in the month of Feb and now the realisations are

around Rs.110 per litre compared to the earlier Rs.81/litre. Aim is to get above the Rs.500 crore revenue

target in FY17, he said. Commenting the frozen desserts versus ice cream controversy, he said the company

produces both frozen desserts as well as ice creams and since both products have their own merits, we

would go with what the consumer decides to have. However the frozen desserts are cheaper than ice

creams, he added. The company currently sells equal amount of frozen desserts and ice creams that is 50-

50% With regards to exports, he said they are aiming of 15% of revenues from the current 10%.

Aim to build organically, expand network to tier III, IV cities: PVR (Rs.1433, +1%)

PVR, the multiplex chain, has reached a valuation of USD one bn and is now amongst the top 10 cinema

exhibition companies in the world in terms of footfalls, with a 30% revenue growth in the last five years.

Headroom for growth in India is huge compared to what is happening all over the world, said Nitin Sood,

CFO of PVR to media. Regarding capping of ticket prices in Karnataka, he said, the company has made

representations to the government explaining why this could be detrimental to the growth of the industry.

He is hopeful that some of the concerns will get addressed. Although the average growth in advertising

revenues this year would be around 18-20%, there is good headroom for growth both in advertising and

Food and Beverages (F&B) revenues, said Sood. Talking about acquisition plans he said "If we find a great

fit and an asset that complements our existing circuit then we will be very opportunistic but subject to right

valuations", he added. However, that is not the cornerstone of our strategy and the longer term focus

remains to build organically and expand our network beyond big cities and to look at tier III and tier IV, said

3

Sood. PVR, the multiplex chain, has reached a valuation of USD one bn and is now amongst the top 10

cinema exhibition companies in the world in terms of footfalls, with a 30% revenue growth in the last five

years. Headroom for growth in India is huge compared to what is happening all over the world, said Nitin

Sood, CFO of PVR to media.

Dilip Buildcon emerged lowest bidder for Maharashtra projects (Rs.340, -1%)

Dilip Buildcon’s won order from roads and highways ministry. The company was declared the lowest bidder

for two projects of the Ministry of Road Transport and Highways in Maharashtra. “Rehabilitation and

upgradation of two lane with paved shoulders on EPC Mode from Kalamb to Wadki (Kalamb - Ralegaon -

Wadki) worth Rs.292.50 crore and Mantha Taluka Border to Barshi worth Rs.288.00 crore,” the company

said in a notification for the exchanges.

Aurobindo Pharma up, gets USFDA approval for Meropenem Injection (Rs.679, +1%)

Share price of Aurobindo Pharma rose 2% intraday Tuesday on USFDA approval for Meropenem Injection.

The company has received final approval from the US Food & Drug Administration (USFDA) to manufacture

and market Meropenem Injection 500 mg/ vial and 1g/vial. Meropenem injection is a generic equivalent of

AstraZeneca Pharmaceuticals' Merrem injection. The product will be launched in Apr 2017. According to

IMS, the approved product has an estimated market size of USD 118 mn for the 12 months ending Jan

2017.

ICICI Bank partners Truecaller for UPI-based mobile payment (Rs.277, +1%)

ICICI Bank announced a partnership with mobile app firm Truecaller for a new UPI-based mobile payment

service. Called Truecaller Pay, it will allow users of the app to instantly create a UPI id, send money to any

UPI id or a mobile number registered with the BHIM app, ICICI Bank said in a statement. It will also enable

users to recharge their mobile number from within the Truecaller app itself, it said. The statement claimed

that the partnership makes the Truecaller - ICICI Bank platform among India's largest mobile payment

platform with 150 mn customers of the app gaining access to UPI-based payments. Any user of Truecaller

app, including non-ICICI Bank customers, can link their account of any bank (participating in UPI) to create a

UPI id and instantly make payments in a safe and secure manner, it added. All transactions of Truecaller

Pay, powered by ICICI Bank, follow two factor authentication as per RBI guidelines for secure transfer of

money. "All sensitive data relating to account details, card details information of users as well as transfer of

monies will be securely handled and stored in the state-of-the-art servers of ICICI Bank in line with NPCI

and RBI guidelines," it said.

Ashok Leyland to invest Rs.400 cr on new LCV development (Rs.86, +1%)

Hinduja flagship firm Ashok Leyland will invest Rs.400 crore to develop new light commercial vehicles

(LCVs) within the next two years and plans to triple its sales in the segment by 2019-20. The company,

which had last year parted ways with Nissan after a tumultuous relationship, is now looking to make up for

the lost time, eyeing export markets with new models to be developed on two new platforms. In order to

accelerate product development, the company is also re-hiring a number of employees who had left the

erstwhile joint ventures with Nissan. "For the medium term between 12 months to two years, we have

allocated fresh fund of Rs.400 crore on product development for LCVs," Ashok Leyland President (LCV &

Defence) Nitin Seth told PTI. "We will have two new platforms on which we can develop several models --

from right hand drive to the left hand drives with different powertrains, as we will be targeting not only the

domestic market but overseas as well," he said. When Ashok Leyland was in partnership with Nissan, their

4

joint venture agreement prevented it from developing its own LCV nor was it allowed to export. Last

September, ending their 8-year-old partnership, Ashok Leyland and Nissan Motor Co agreed to part ways

with the Japanese partner agreeing to sell its stake in three joint ventures to the Indian partner. In May

2008, the two partners had formed three JVs -- Ashok Leyland Nissan Vehicles Ltd (ALNVL); Nissan Ashok

Leyland Power Train Ltd (NALPT); and Nissan Ashok Leyland Technologies Ltd (NALT). The partners had

invested about Rs.1,000 crore as equity between them. With the three JVs becoming history and having

bought out the Japanese partner's stake while getting licence to its technology, the Chennai-based firm is

now looking ahead to becoming a significant player in the LCV segment behind Mahindra & Mahindra and

Tata Motors. "We believe we can be a significant player in the LCV segment. Our target is to achieve annual

sales of one lakh units by 2019-20," Seth said. Exuding confidence of "tripling sales" from the current

35,000-36,000 units a year, he said: "It is possible for us, we have the infrastructure ready all we need is

new products to push volumes." With faster product development becoming crucial to its plans, the

company is re-hiring some of the ex-employees of the erstwhile JVs with Nissan, who had left during the

uncertain times. "They were a part of the system and they know our requirements," Seth said without

sharing the number of people who are joining back. When asked about exports, he said: "We have divided

the target markets into four clusters -- SAARC, GCC (Gulf Cooperation Council), Africa and the Asean." With

many of the international markets being left hand drive markets, he said LCVs on the two new platforms

will be developed with a consideration to address those markets, he said. "Our new products will be able to

address markets like Indonesia, Malaysia and Africa, SAARC region which are very similar to India. Even for

GCC, we will be able to meet the standards there with our new products," Seth said. Ashok Leyland's focus

on exports is keeping with the top management thinking that to overcome risk of the cyclical nature of

commercial vehicles market, overseas markets contribute around 33% of its total sales. Currently, around

10-12% of its total sales come from exports. For the domestic market, Seth said the company's current

LCVs -- Dost, Partner and Mitr are doing well. "Our dealers have been longing for new products, which we

will deliver. There will be variants of existing models in short term while the roll out of brand new products

will happen in the medium term," Seth said. Along with the new models, he said the plan is to expand sales

network to 450 outlets with 150 dealers across India within the next two years from the current 370

outlets and 113 dealers.

Pincon Spirits buys 100 vehicles from Tata Motors (Rs.65, +4%)

Liquor firm Pincon Spirits said it has bought 100 goods transport vehicles from auto major Tata Motors to

increase logistics infrastructure. "...it has acquired 100 goods transport vehicles from Tata Motors for

increasing its captive logistics infrastructure," the company said in a BSE filing. Pincon Spirits said that by

adding to the captive logistics infrastructure, it has equipped itself for catering to transportation of much

greater volume goods and also for cost curtailment in transportation.

V-Guard board okays acquisition of Guts Electromech (Rs.170, +1%)

Consumer electrical and electronics player V-Guard Industries today said it has received in-principle

approval from its board to acquire a majority stake in Guts Electromech Ltd. The Board of Directors of the

company considered the proposal to acquire majority stake in the equity of Guts Electromech Ltd,

Hyderabad, and accorded its in-principle approval to make the investment, subject to completion of due

diligence and approvals from requisite authorities, the company said in a BSE filing. However, the company

did not disclose the investment figures. Guts Electromech is engaged in the manufacture and marketing of

various kinds of domestic switch gears and power transformers.

5

Britannia forms joint venture with Chipita of Greece (Rs.3342, +1%)

FMCG major Britannia Industries said it has entered into a joint venture with Greek firm Chipita SA for

producing and selling ready-to-eat croissants in India. The estimated investment in the joint venture

company -- Britchip Foods Ltd -- in Phase I is Rs.100 crore. "The company has signed a joint venture

agreement with Chipita SA, a Greek company for the purpose of developing, producing and selling ready-

to-eat croissants and any other product as may be agreed between the parties through a joint venture

company, Britchip Foods Ltd," the FMCG major said in a BSE filing. As per the agreement, Britannia

Industries will hold 60% of total share capital of the joint venture company, while Chipita SA would hold

the rest. Both the parties will have the right to appoint the Directors in their agreed equity proportion. The

board of the JV will have a minimum of five and maximum of ten members, the filing said. As per the JV

agreement, Britannia has the right of first refusal in case Chipita intends to sell its stake after the expiry of

lock in period of ten years. The parties will also enter into ancillary agreements such as technology license,

brand license, support service and distribution pacts, the filing said.

Hero MotoCorp promoter entity buys shares worth Rs.2,996 cr (Rs.3328, 0%)

Bahadur Chand Investments, one of the promoters of Hero MotoCorp, raised its holding in the two-

wheeler major by picking up 4.45% stake for Rs.2,996 crore from another promoter firm in an open market

transaction. According to bulk deal data available with the NSE, Bahadur Chand Investments bought 88.78

lakh shares, amounting to 4.45% stake, of Hero MotoCorp from Brij Mohan Lall Om Prakash (BMOP), a

partnership firm of the promoter family members. Shares were purchased at an average price of Rs.3,375,

valuing the transaction at Rs.2,996.32 crore. This is an inter-se transfer between the promoters. There is no

change in the aggregate promoter shareholding in Hero MotoCorp. Bahadur Chand Investments held

11.11% stake in Hero MotoCorp as of Dec quarter. Earlier in Aug 2016, Bahadur Chand Investments had

picked up 48,80,988 shares of Hero MotoCorp for Rs.1,620 crore.

6

Information Of Bulk Deals – 28th Mar 2017 On BSE

Scrip Name Name Of Client BUY (B) / SELL (S)

Quantity Shares

Trade Price/ W Avg. Price

Aartiind Chandrakant Vallabhaji Gogri B 414,996 775

Agiil Manlike Chemical And Pharma Co Pvt Ltd. B 53,000 142.5

Akcapit Columbine Decorative And Marketing Pvt.L S 40,000 380.84

Akcapit Second Leasing Private Limited B 33,319 380.5

Alora Ashmitaben Kiritbhai Vaghani S 79,500 23

Alora Sairabanu Fanaswala B 100,000 23

Alora Subhadraben Rameshchandra Shah B 100,000 23

Amrafin Darshan Pankajbhai Shah B 120,000 68.85

Amrafin Khajanchi And Gandhi Stock Broking Private S 120,000 68.85

Amrafin Orange Mist Productions Pvt Ltd B 121,200 68.85

Amrafin Pareshkumar Mahendrkumar Shah (Huf) S 69,600 68.85

Amraplin Chirag Yashvantbhai Thakkar B 2,000,000 4.2

Amraplin Dhartiben Thakkar B 1,500,000 4.19

Amraplin Monal Y Thakkar B 3,748,461 4.2

Amraplin Ritaben Rashmikant Thakkar B 3,500,000 4.17

Amraplin Veenaben Yashwantbhai Thakkar B 1,500,000 4.18

Arenterp Vsl Securities Pvt Ltd S 15,950 16.15

Ashoka Aditya Satish Parakh . S 3,511,060 192

Ashoka Ashok Motilal Katariya . S 3,522,891 192

Ashoka Astha Ashish Kataria . S 2,443,972 192

Ashoka Narendra Ramswrup Shakadwipi . S 1,106,965 192

Ashoka Nishant Narendra Shakadwipi . B 1,106,965 192

Ashoka Satish Dhondulal Parakh . S 7,872,130 192

Ashoka Satish Dhondulal Parakh Huf S 7,187,050 192

Ashoka Shobha Satish Parakh . B 14,777,265 192

Ashoka Shweta Keyur Modi . B 3,347,866 192

Ashoka Snehal Manjeet Khatri . B 3,742,975 192

Atharvent Bharthe Sarda S 2,200,000 3.16

Atharvent Vinay Kumar Jha B 989,188 3.16

Bcp Bon Lon Pvt Ltd B 200,000 29.95

Bcp Itj Retails Private Limited S 352,000 29.95

Bcp Rama Copeer Wire Private Limited B 150,000 29.95

Bergepaint Gbs Dhingra Family Trust S 6,500,000 232

Bergepaint Ksd Family Trust S 6,500,000 232

Bergepaint U K Paints India Pvt Ltd B 13,000,000 232

Bglobal Ashish Vrundavan Karia S 163,400 11.81

Bharatforg Amrit Petroleums Private Limited S 1,800,000 1,015

Bharatforg Nemish Shantilal Shah B 1,800,000 1,015

Capf Jv And Associates Llp S 3,208,080 699

Capf V Vaidyanathan B 3,208,080 699

7

Covidh Nisha Yadav S 83,463 2.72

Deepakfert Nova Synthetic Ltd B 24,295,000 248.05

Deepakfert Parul Sailesh Mehta S 3,012,000 248.05

Deepakfert Sailesh Mehta S 21,283,000 248.05

Devhari Doshi Hetal S B 696,000 9.9

Devhari Shashank Pravinchandra Doshi S 696,000 9.9

Dhanvarsha Nitinkumar Ramchandrabhai Patel S 48,000 18

Dwekam Manisha Nitinkumar Shah S 48,000 17.54

Dwekam Nitin Dalpatlal Shah S 48,000 17.54

Edelweiss Shah Family Discretionary Trust B 38,750,000 137.4

Edelweiss Spire Investment Advisors Llp S 38,750,000 137.4

Energydev Subhlabh Fiscal Services Private Ltd B 300,000 34.8

Fconsumer Aaradhak Commercial Ventures Privatelimited S 50,112,013 27.4

Fconsumer Future Capital Investment Private Limited B 50,000,000 27.4

Fdc Aditi Family Discretionary Trust B 10,756,110 203.55

Fdc Ameya Family Discretionary Trust B 16,134,016 203.55

Fdc Ashok Anand Chandavarkar S 16,134,016 203.55

Fdc Mangala Ashok Chandavarkar S 10,756,110 203.55

Galadafin Jayakumar Renuka S 20,000 14.55

Galadafin S Labhchand Jain B 19,900 14.55

Gammninfra Bnp Paribas Arbitrage S 7,844,818 3.94

Gammninfra Hsbc Global Investment Fu Nds Mauritius Ltd B 7,844,818 3.94

Garwarpoly Hridaynath Consultancy Private Limited B 1,300,000 145

Garwarpoly Minal Bharat Patel S 1,000,000 145

Garwarpoly Ruchit Bharat Patel S 299,574 145

Glxyent C Mackertich Private Limited B 702,926 18.05

Glxyent Sudha Commercial Company Limited S 702,926 18.05

Grindwell Amrit Petroleums Private Limited S 626,040 338

Grindwell Nemish Shantilal Shah B 626,040 338

Grovy Ashish Sharma B 11,500 33.77

Grovy Deepti Jain B 11,710 33.54

Grovy Des Raj Kaundal S 11,800 33.58

Grovy Neena Garg S 11,000 33.82

Grovy Pankaj Jain & Sons Huf B 9,000 33.55

Grovy Pradeep Arora S 14,910 33.64

Grovy Priyanka Jain S 24,500 33.8

Gvkpil Copthall Mauritius Investment Limited S 13,201,879 6.01

Gvkpil Hsbc Indian Equity Mother Fund B 13,201,879 6.01

Ibulhsgfin Eastspring Invts Developed & Emerging Asia Eq Fd B 2,511,681 955.25

Ibulhsgfin The Prudential Assurance Company Limied S 151,870 955.25

Ibulhsgfin The Prudential Assurance Company Limied S 42,333 955.25

Ibulhsgfin The Prudential Assurance Company Limited S 2,317,478 955.25

Infratel Bharti Airtel Limited S 190,583,357 325

8

Infratel Canada Pension Plan Investment Board B 60,461,539 324.99

Infratel Silverview Portfolio Investments Pte. Ltd B 130,803,065 325

Jayagrogn Udeshi Trust S 100,000 705

Jindworld Amit Yamunadutt Agarwal B 975,000 275

Jindworld Amitara Industries Limited S 975,000 275

Jyoti Blue Bird Mercantiles Private Limited B 257,000 61.69

Kamadgiri Antariksha Agro Farms Private Limited S 200,000 68.5

Kamadgiri Counseled Mercantile Private Limited B 199,905 68.5

Kjmccorp Ravindra Nemichand Kala B 60,590 23

Kjmccorp Usha Ravindra Kala S 60,590 23

Kjmcfin Bina Jain B 27,550 25

Kjmcfin Kamal Jain B 27,900 25

Kjmcfin Optus Impex Pvt Ltd S 83,350 25

Kjmcfin Ravindra Nemichand Kala B 58,250 25

Kjmcfin Usha Ravindra Kala S 58,250 25

Kjmcfin Vikas Kamal Jain B 27,900 25

Lakselec Lakshmi Electrical Drives Limited S 172,756 450

Lakselec Nethra Kumar B 172,756 450

Laxmimach Amrit Petroleums Private Limited S 491,145 4,095

Laxmimach Nemish Shantilal Shah B 491,145 4,095

Lkpsec Padmakshi Capital Private Limited B 757,710 7.6

Lkpsec Padmakshi Financial Services Limited S 757,710 7.6

Looks Rajendra Shah Aruna S 89,479 14.6

Macintr Ashis Garg S 20,046 17.28

Macintr Surya Mohan Jha B 20,000 17.28

Mainfra Jayesh K Patel B 125,000 29.5

Mainfra Patel Shital Jayeshbhai S 125,000 29.5

Mainfra Patel Vinitkumar Manilal S 104,100 29.89

Mainfra Shah Kalpesh Rameshchandra B 104,100 29.89

Manaksia Anirudha Agrawal S 500,000 65.75

Manaksia Payal Agrawal B 850,685 65.75

Manaksia Varun Agrawal S 5,991,930 65.75

Manaksia Vineet Agarwal B 5,641,245 65.75

Manaksteltd Chandrakala Agrawal S 10,744,810 13.25

Manaksteltd Varun Agrawal B 10,744,810 13.25

Manomay Ajay Kumar Birla B 96,000 30.8

Manomay Ratan Lal Nolkha Huf B 120,000 31.47

Manomay Swati Amrish Shah B 136,000 31.96

Marsons Gopal Adlollu S 173,852 13.01

Mnkalcoltd Anirudha Agrawal S 1,374,560 6.35

Mnkalcoltd Anuradha Agrawal B 504,560 6.35

Mnkalcoltd Shailaja Agrawal B 870,000 6.35

Mnkalcoltd Sunil Agarwal B 5,341,178 6.35

9

Mnkalcoltd Sushil Kumar Agrawal B 3,613,557 6.35

Mnkalcoltd Vineet Agarwal S 8,954,735 6.35

Mnkcmiltd Sunil Kumar Agrawal S 13,053,980 11.25

Mnkcmiltd Sushil Kumar Agrawal B 13,053,980 11.25

Muditfn Pavel Garg S 625,000 53

Muditfn Shashank Garg B 625,000 53

Murad Hathila Vaneshbhai Rasubhai B 49,200 19.39

Murad Rajendra J. Keshwani Huf S 142,200 19.44

Murad Vaghela Prakash Kantilal B 48,000 19.17

Neclife Raman Goyal S 21,584,000 34.4

Neclife Sanjeev And Sons B 42,807,400 34.4

Neclife Sanjiv Goyal S 21,223,400 34.4

Nexuscommo Bina Rajesh Shah B 40,000 51.04

Novapub Epoch Mercantiles Pvt Ltd S 66,580 85.8

Novapub Sudama Trading And Investments Limited B 37,895 87.45

Novapub Vikash Mercantile Pvt Ltd B 30,000 86.53

Novapub Vinayak Trimbak Sarkhot B 27,200 89.3

Osiajee Bhudev Trading Private Limited B 40,000 13.99

Osiajee Champalal Chouhan S 57,880 13.99

Padmaind Anish Kiritbhai Dalal S 46,900 46.67

Padmaind Brijesh Bipinchandra Patel S 23,100 46.99

Padmaind Rajesh Tarachand Shah B 24,965 46.77

Padmaind Rajeshkumar Tarachand Shah S 24,970 46.71

Padmaind Rakesh Bhatia B 63,000 47.3

Premsyn Bhargav Shrikant Hasurkar B 30,000 20.85

Premsyn Swati Bajranglal Bardia S 33,700 20.85

Purshottam Chandika Infrastructure Pvt Ltd S 64,800 13.1

Purshottam Paresh Jamnadas Rajde S 565,000 13.1

Purshottam Plus Corporate Venture Pvt Ltd B 550,000 13.1

Purshottam Pranidhi Holdings Private Limited B 100,000 13.1

Rccl Avinash Bajoria S 400,000 36

Rubrame Karan Sunil Jain B 50,908 1.37

Rubrame Vipul Bhagwandas Shah S 50,000 1.37

Sflinter Active Nirman Private Limited S 61,500 42

Sflinter Divine Waters Private Limited B 34,200 42

Sflinter Sanjay H Sarawagi S 33,500 42.05

Sflinter Sarita Kunwar Singh B 27,000 42

Shaily Ashish Ramchandra Kacholia S 360,000 502.5

Shaily Suryavanshi Commotrade Pvt Ltd B 360,000 502.5

Shivkrupa Mahendra Sampat Pawar B 31,397 58.82

Siil Vinod Kumar Jain Huf S 50,000 10.76

Sivi Beeline Broking Limited S 120,000 39

Sivi Miker Financial Consultants Private Limited B 120,000 39

10

Sivi Sonu Pravin Dadlika S 30,000 39

Sivi Vinod Kumar Mali B 117,000 41.97

Smlt Harsh Sarawgi B 84,000 32.5

Sslel Amar Alliance Consultants Private Limited S 30,000 87

Steelxind Monotype India Limited S 569,964 94.5

Steelxind Multiplier Share & Stock Advisors Private Limited B 500,000 94.5

Titaanium Senagasetti Ramesh B 40,000 13.46

Torntpharm Anita Sudhir Mehta S 6,120,168 1,401

Torntpharm Jinal Sudhirbhai Mehta S 1,752,900 1,401

Torntpharm Samir U Mehta Huf S 2,079,900 1,401

Torntpharm Samir Uttamlal Mehta S 6,283,860 1,401

Torntpharm Sudhir U Mehta Huf S 1,717,380 1,401

Torntpharm Torrent Private Limited B 19,704,108 1,401

Torntpharm Varun Sudhirbhai Mehta S 1,749,900 1,401

Transchem Arangetam Trading Company Llp . S 103,401 20.9

Transchem Grandeur Corporation Private Limited . S 469,354 20.9

Transchem Limpid Investments Private Limited . S 88,200 20.9

Transchem Priyanka Finance Pvt Ltd B 400,000 20.9

Transchem Rajen Kapil Desai S 1,750,000 20.9

Transchem Vijay Kundanmal Choraria B 2,000,000 20.9

Umiya Hemangini Dilip Sanghavi B 40,000 118

Umiya Miker Financial Consultants Private Limited S 40,000 118

Uniply Keshav Kantamneni . B 139,895 315

Unistrmu Suresh Bafna B 200,000 3.85

Unistrmu Trushita Bharatbhai Gadhecha S 200,000 3.85

Vama G K Properties Private Limited S 400,000 19.45

Vama Nitin Siddamsetty B 402,874 19.46

Vasinfra Shifali Mehta B 111,448 12.5

Vasinfra Xtended Business Reporting Limited S 70,000 12.51

Voltamp Kunjal Lalitkumar Patel S 140,000 974

Voltamp Lalitbhai Haribhai Patel B 140,000 974

Voracon Arcadia Share & Stock Brokers Pvt. Ltd B 15,000 60

Voracon Parth Hemant Sheth B 15,000 60

Voracon Sarda S 32,933 60

Winsomtx Aspire Emerging Fund B 102,654 63.24

Winsomtx Image Securities Ltd S 102,654 63.24

Information Of Bulk Deals – 28th Mar 2017 On NSE

Scrip name Name of Client BUY (B) / SELL (S)

Quantity Shares

Trade Price/ W Avg. Price

Bajaj Corp Limited Bajaj Resources Limited B 10400000 374.68

Bajaj Corp Limited Knb Enterprises Llp S 7350000 374.75

Bajaj Corp Limited Skb Roop Commercial Llp S 3050000 374.5

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Bannari Amman Sugars M J Shah Family Trust B 179943 1980

Bannari Amman Sugars Shah Mayank Jashwantlal S 179943 1980

Bsel Infrastructure Realt Relaxed Packagers Pvt Ltd B 490000 5

Bsel Infrastructure Realt Vicky Rajesh Jhaveri S 533818 5

Cimmco Limited Tarun Suresh Jain B 185711 106.83

Cmi Limited Kusum Agarwal S 100000 162.5

Cmi Limited Reliance Wealth Management Limited B 200347 162.62

Cmi Limited Shubham Gupta S 160000 162.82

Energy Development Co Garna Finvest Private Limited S 300000 34.9

Essel Propack Ltd. Goel Laxmi Narain B 1400000 235.73

Gretex Industries Ltd. Anilkumar Swarupchand Kothari S 60000 16.66

Karma Energy Limited Anju Dharmendra Siraj B 450300 42.81

Karma Energy Limited Chetan Durgadas Mehra S 1093764 41.65

Karma Energy Limited Chetan Durgadas Mehra S 377064 41.75

Karma Energy Limited Inspeed Power Private Limited B 377064 41.75

Karma Energy Limited Prabhanjan Multitrade Pvt.Ltd. S 450300 42.81

Karma Energy Limited Radhika Chetan Mehra B 716700 41.6

Kavveri Telecom Products Aspire Emerging Fund B 1000000 11.62

Kavveri Telecom Products Image Securities Ltd S 1000000 11.62

Mirc Electronics Ltd. Tamarind Family Private Trust S 25985750 13.2

Mirc Electronics Ltd. Vijay Mansukhani B 25985750 13.2

Nagarjuna Oil Refinery Zuari Global Limited S 19513000 4.55

Nagarjuna Oil Refinery Zuari Investments Ltd. B 19513000 4.55

Neueon Towers Limited Merlin Holdings Pvt Ltd. S 413588 4.91

Nilkamal Limited Hiten Vamanrai Parekh S 925966 2010

Nilkamal Limited Manish. Vaman Parekh B 829691 2010

Nilkamal Limited Manju Manish Parekh B 380952 2010

Nilkamal Limited Nayan Sharad Parekh. B 1239131 2010

Nilkamal Limited Parekh Sharad Vrajlal S 761904 2010

Nilkamal Limited Purvi Nayan Parekh S 380952 2010

Nilkamal Limited Vamanrai Vrajlal Parekh. S 380952 2010

Prakash Industries Ltd. Ivory Consultants Pvt Ltd. S 1436500 80.29

Rollatainers Limited Chirag Narendra Modh B 1500000 14.15

Sanginita Chemicals Ltd Beeline Broking Ltd B 198000 22

Sanginita Chemicals Ltd Fincred Investments Limited S 156000 22

Torrent Pharma Ltd. Mehta Sudhir Uttamlal S 5885276 1401

Torrent Pharma Ltd. Torrent Private Limited B 5885276 1401

Uflex Limited Ashok Kumar Chaturvedi Huf B 818000 271

Uflex Limited Chaturvedi Rashmi S 486000 271

Uniply Industries Limited H. J. Securities Private Limited B 150000 318

Uniply Industries Limited Keshav Kantamneni B 149900 315

Veto Switchgear Cable Ltd Madhu Gupta S 94593 151.1

Veto Switchgear Cable Ltd Sunil Kumar Gangwal B 100000 151.08

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Disclosures Under SEBI (Prohibition Of Insider Trading) Regulations, 2015

Company Name Name of Acquirer / Seller Securities Held pre Transaction

Securities Acquired / Disposed Number Value Transaction Type

Securities held post Transaction

Period

Fiberweb (India) Ltd. Abhishek Agarwal 63500 (0.50) 5,200 1602939 Disposal 58300 (0.46) 23/03/2017

Fiberweb (India) Ltd. Mrs Sulochan Adevi Agarwal 209652 (1.66) 5,682 1724119 Disposal 203970 (1.62) 23/03/2017

Greycells Education Limited Nowshir Engineer 371150 (4.69) 50,000 1855000 Disposal 321150 (4.06) 23/03/2017

Ganga Papers India Ltd. Amit Chaudhary (-) 5,00,000 5223835 Acquisition 500000 (4.63) 24/03/2017

13

Rating Scale This is a guide to the rating system used by our Institutional Research Team. Our rating system comprises of six rating categories, with a corresponding risk rating.

Risk Rating Risk Description Predictability of Earnings / Dividends; Price Volatility

Low Risk High predictability/ Low volatility

Medium Risk Moderate predictability / volatility

High Risk Low predictability/ High volatility

Total Expected Return Matrix Rating Low Risk Medium Risk High Risk

Buy Over 15 % Over 20% Over 25%

Accumulate 10 % to 15 % 15% to 20% 20% to 25%

Hold 0% to 10 % 0% to 15% 0% to 20%

Sell Negative Returns Negative Returns Negative Returns

Neutral Not Applicable Not Applicable Not Applicable

Not Rated Not Applicable Not Applicable Not Applicable

Please Note

Recommendations with “Neutral” Rating imply reversal of our earlier opinion (i.e. Book Profits / Losses).

** Indicates that the stock is illiquid With a view to combat the higher acquisition cost for illiquid stocks; we have enhanced our return criteria for such stocks by five percentage points.

“Desk Research Call” is based on the publicly available information on the companies we find interesting and are quoting at attractive valuations. While we do not claim that we have compiled information based on our meeting with the management, we have taken enough care to ensure that the content of the report is reliable. Although we have christened the report as “Desk Research Calls” (DRC), we intend to release regular updates on the company as is done in our other rated calls.

For any information or suggestion, please contact the below mentioned…

Nishita Shah (nishita.sshah@sushilfinance.com)

Sushil Financial Services Private Limited Member BSE: SEBI Regn.No. INB/F010982338 | Member NSE: SEBI Regn.No.INB/F230607435.

Office: 12, Homji Street, Fort, Mumbai 400 001. Phone +91 22 4093 6000 Fax +91 22 2266 5758

“Research Analyst – SEBI Registration No. INH000000867”

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14

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