Market Wrap. Market Review. Economy & Industry News. May 11, 2017

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1 Market Wrap MARKETS AT GLANCE Sensex NIFTY BSE Index BSE Index BSE Midcap BSE Smallcap NIFTY NEXT NIFTY BSE SECTORAL INDICES FMCG HEALTHCARE IT AUTO BANKEX CAPITAL GOODS CONSUMER DURABLES METAL OIL & GAS POWER REALTY TECK GLOBAL INDICES. Shanghai Composite Nikkei (Japan) Hang Seng DAX 5:00 PM FTSE 100 5:00 PM CAC 40 5:00 PM Advance / Decline BSE NSE Advance Decline Unchanged (Source: BSE, NSE) Market Review The benchmark indices settled at record closing highs for the second straight session, but erased most of intraday gains as investors booked profits in recent outperformers such as Bharti Airtel and Hindustan Unilever, while negative opening in European markets also capped gains. Sensex ended at 30,250, up 3 points, while Nifty50 closed at 9,422, up 15 points. Among BSE sectoral indices, consumer durables index was the starperformer and was up 1.65 per cent, auto 0.98 per cent, metal 0.69 per cent and TECk 0.57 per cent. On the other hand, power index fell the most by 1.22 per cent, oil & gas 0.93 per cent, PSU 0.77 per cent and infrasructure 0.51 per cent. Top five Sensex gainers were Hero MotoCorp (+4.26%), Bajaj Auto (+3.12%), Adani Ports (+2.28%), State Bank of India (+1.15%) and ITC (+1.00%), while the major losers were Bharti Airtel (-2.21%), GAIL (-2.14%), ONGC (-1.94%), HUL (-1.78%) and Axis Bank (-1.69%). Economy & Industry News Steel, metal firms announce Rs 1.4 lakh-cr plans as fundamentals improve: Indian metals companies have started reviving their capacity expansion plans again as they see demand recovering and since prices have remained elevated despite a recent fall. In FY17, metal and steel companies announced capital expenditure (capex) plans worth Rs 1.4 lakh crore ($22.2 billion), according to CMIE data, which is quite a large sum when compared to the past few years. Rating agencies inconsistent in their treatment of China, India: CEA- Slamming global credit rating agencies for not upgrading India despite clear improvement in its economic fundamentals, Chief Economic Adviser Arvind Subramanian on Thursday said they are following "inconsistent" standards while rating India and China. Ind-Ra maintains stable outlook on auto sector for FY18: The credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has maintained a stable outlook on the auto sector for the current financial year. This is mainly driven by moderate annual volume growth of 6-9% for passenger vehicle (PV) segment, despite an expected slowdown in the commercial vehicle (CV) segment. The report has said that growth in the PV segment is likely to be driven by utility vehicles (15-20%), the car segment (3-5%), while the van segment is expected to remain tepid at up to 2%. It also said that the slowdown in the CV segment is expected to be on account of a 9-12% decline in medium and heavy commercial vehicles (MHCVs), partially offset by a 6-9% growth in light commercial vehicles (LCVs).

2 TOP 5 GAINERS IN NIFTY EICHERMOT ZEEL HEROMOTOCO HINDALCO BAJAJ-AUTO TOP 5 LOSERS IN NIFTY BHARTIARTL ONGC GAIL AXISBANK IOC TOP 5 GAINERS AT BSE Group A ADANITRANS UNITDSPR UBL ZEEL EICHERMOT TOP 5 LOSERS AT BSE Group A ABB SIEMENS GSFC MARKSANS WELCORP DEBT & FOREX MARKET Company Closing 7.72% GS *INR / US$ *INR / Euro *INR / 100YEN *INR / Pound Sterling * RBI Reference Rate SENSEX INTRADAY CHART Corporate News Global News Arvind Ltd reported a marginal decline of 0.92 per cent in consolidated net profit to Rs crore for the fourth quarter ended March on account of higher expenses. The company had posted a net profit of Rs crore for the same period in the previous fiscal. Granules India Ltd's net profit increased 39 per cent to Rs 46 crore in the fourth quarter ended March 31, 2017 compared with Rs 33 crore in the same period last year. Revenues, however, declined to Rs. 362 crore (Rs 376 crore). Izuzu Motors India launched the 'mu-x' premium full size 7-seater SUV on Thursday. The 3,000 cc vehicle will be available in two variants in India. The 4x2 variant will be available at Rs lakh (ex-showroom Delhi). The 4x4 variant will be sold at Rs lakh (ex-showroom Delhi). Gujarat Pipavav Port reported a 28.1 per cent jump in standalone net profit at Rs crore for the fourth quarter ended March Havells India has reported a fall of 74.11% in its net profit at Rs crore for the quarter ended March 31, 2017 as compared to Rs crore for the same quarter in the previous year. However, total income from operations of the company increased by 17.22% at Rs crore for quarter under review as compared to Rs crore for the quarter ended March 31, Gujarat Mineral Development Corporation Ltd (GMDC) has posted a standalone net profit of Rs 90 crore for the fourth quarter ended March 2017 against Rs crore in the corresponding quarter last year, indicating a sharp growth of 127 per cent on a year-on-year basis. Ashoka Buildcon Ltd has bagged a Rs crore project from Jharkhand Bijli Vitran Nigam Ltd for urban electrification works in Jharkhand. HCL Technologies reported nearly 21 per cent growth in net profit to Rs 2,325 crore for the quarter ending March 31, Revenues grew by 20 per cent to Rs 12,053 crore. During the corresponding period last year, HCL posted net profit of Rs 1,926 crore on revenues of Rs 10,698 crore. UK Industrial Output Falls For 3rd Month: Industrial production in the UK shrank 0.5% mom in March, worse than expectations of a 0.2% decline and led by falls in energy supply and manufacturing. Considering Q1, industrial output edged up 0.1%, below the 0.3% gain seen in the preliminary GDP. Source: Business Line, Business Standard, Economic Times, Financial Express, Capital Market, AceEquity, tradingeconomics.com (Source: BSE)

3 Forthcoming Board Meetings Company Name Meeting Date Purpose Aarti Industries Limited 12-May-17 Results ADF Foods Limited 12-May-17 Results/Dividend Aditya Birla Fashion and Retail Limited 12-May-17 Results/Others Century Textiles & Industries Limited 12-May-17 Results/Dividend D-Link (India) Limited 12-May-17 Results/Dividend Dr. Lal Path Labs Ltd. 12-May-17 Results/Dividend Dr. Reddy's Laboratories Limited 12-May-17 Results/Dividend Gujarat Industries Power Company 12-May-17 Results/Dividend Hinduja Ventures Limited 12-May-17 Results/Dividend Huhtamaki PPL Limited 12-May-17 Results Inox Wind Limited 12-May-17 Results Jindal Stainless Limited 12-May-17 Results Linde India Limited 12-May-17 Results Neuland Laboratories Limited 12-May-17 Results Oriental Bank of Commerce 12-May-17 Results/Others Oriental Hotels Limited 12-May-17 Results/Dividend Piramal Enterprises Limited 12-May-17 Results PNB Gilts Limited 12-May-17 Results/Dividend PNB Housing Finance Limited 12-May-17 Results/Dividend Premier Explosives Limited 12-May-17 Raising of Funds Quick Heal Technologies Limited 12-May-17 Results/Dividend Relaxo Footwears Limited 12-May-17 Results/Dividend RSWM Limited 12-May-17 Results/Dividend S H Kelkar and Company Limited 12-May-17 Results/Dividend/Buyback Shriram Pistons & Rings Limited 12-May-17 Results/Dividend Sunil Hitech Engineers Limited 12-May-17 Others Tata Teleservices (Maharashtra) Limited 12-May-17 Results Titan Company Limited 12-May-17 Results/Dividend TVS Electronics Limited 12-May-17 Results UCO Bank 12-May-17 Results Varun Beverages Limited 12-May-17 Results Venky's (India) Limited 12-May-17 Results/Dividend Atul Auto Limited 13-May-17 Results/Dividend Avanti Feeds Limited 13-May-17 Results/Dividend BPL Limited 13-May-17 Results Capri Global Capital Limited 13-May-17 Results/Dividend Central Bank of India 13-May-17 Results Gangotri Textiles Limited 13-May-17 Results Gujarat Ambuja Exports Limited 13-May-17 Results/Dividend Idea Cellular Limited 13-May-17 Board meeting Rescheduled JK Cement Limited 13-May-17 Results/Dividend Lumax Industries Limited 13-May-17 Results/Dividend Mangalam Cement Limited 13-May-17 Results/Dividend Suven Life Sciences Limited 13-May-17 Results The Jammu & Kashmir Bank Limited 13-May-17 Results The Karnataka Bank Limited 13-May-17 Results/Dividend TIL Limited 13-May-17 Results/Dividend Vinati Organics Limited 13-May-17 Results (Source: NSE)

4 Forthcoming Corporate Action Company Name Ex-Date Purpose Godrej Consumer Products Limited 16-May-17 Interim Dividend Rs 12/- Per Share (Purpose Revised) P&G Hygiene and Health Care Limited 17-May-17 Special Interim Dividend Rs 362/- Per Share Gillette India Limited 17-May-17 Interim Dividend Rs 154/- Per Share (Source: NSE) Key Global Economic Indicators Date Country Event Actual Forecast Previous 8 May China Balance of Trade APR $38.05B $23.93B 9 May Germany Balance of Trade MAR 25.4B 20.0B US NFIB Small Business Optimism Index US Wholesale Trade Inventories - M/M change 0.2% 0.2 % 0.3 % 10 May China Inflation Rate YoY APR 1.2% 0.9% US Import Prices - M/M change 0.5% 0.1 % -0.2 % US Export Prices - M/M change 0.2% 0.1 % 0.2 % 11 May UK Balance of Trade MAR -4.90B -2.65B UK BoE Quantitative Easing 435B UK BoE Interest Rate Decision 0.25% US Jobless Claims 244 K 238 K US PPI-FD - M/M change 2.3 % 12 May Germany GDP Growth Rate YoY Flash Q1 1.2% India Industrial Production YoY MAR -1.2% India Inflation Rate YoY APR 3.81% US CPI - Y/Y change 0.2% -0.3% US Retail Sales -0.2% 0.6% US Business Inventories 0.1 % 0.3 % US Consumer Sentiment (Source: Bloomberg,

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