MARKET LENS. Positional Pick. Intraday Picks NIFTY IN FOCUS STOCK IN FOCUS. Institutional Equity Research

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1 EQUITY INDICES Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 35,286.7 (261.5) -0.7% 1.3% 3.6% CNX Nifty 10,710.5 (89.4) -0.8% 1.1% 1.7% S&P CNX 500 9,234.5 (84.0) -0.9% 0.3% -2.7% SENSEX 50 11,219.8 (85.5) -0.8% 1.2% 2.2% International Last Trade Change 1-D 1-Mth YTD DJIA 24,700.2 (287.3) -1.2% -0.1% -0.1% NASDAQ 7,725.6 (21.4) -0.3% 5.0% 11.9% NIKKEI 22,262.2 (16.3) -0.1% -2.9% -2.2% HANGSENG 29, % -4.8% -1.2% MSCI Emerging Mkts 1,085.0 (21.0) -1.9% -4.6% -6.3% STOCK IN FOCUS Power Grid Corp. is on track to achieve huge capex plan till FY22. With capex Rs78.9bn in 4QFY18, it incurred Rs257.9bn capex in FY18. Total work in hand is pegged at Rs1.1trln, which includes ongoing projects (Rs0.75trln), new projects (Rs25bn), GoI consultancy works (Rs160bn) and TBCB projects (Rs165bn). Aided by higher capitalisation and better execution, Power Grid Corporation of India (PGCIL) has reported a strong performance on all key parameters in the last 2-3 yrs. EBITDA margin also expanded driven by better operating eiciency. We believe that the pace of capitalisation is set to pick-up pace in coming quarters with some larger projects getting operational. At CMP, the stock trades at 1.7x FY19E & 1.5x FY20E P/BV, respectively and 10.7x P/E of FY19E & 9.0x P/E of FY20E. Given higher capitalisation in coming years on the back of huge capex pipeline, steady regulated RoE, we believe that PGCIL s fundamentals would continue to remain strong. We maintain our BUY recommendation on the stock with a Target Price of Rs256. (PREVIOUS CLOSE: 1269) SELL For today s trade, short position can be initiated in the range of Rs for the target of Rs 1260 with a strict stop loss of Rs s (PREVIOUS CLOSE: 328) SELL For today s trade, short position can be initiated in the range of Rs for the target of Rs 316 with a strict stop loss of Rs 337. (PREVIOUS CLOSE: 434) SELL For today s trade, short position can be initiated in the range of Rs for the target of Rs 421 with a strict stop loss of Rs 444. ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy s Lab (ADR) 34.9 (0.2) -0.4% 18.9% -7.2% Tata Motors (ADR) 22.1 (0.5) -2.3% -0.9% -33.1% Infosys (ADR) 18.2 (0.2) -1.3% 4.8% 12.2% ICICI Bank (ADR) 8.6 (0.1) -0.8% 1.9% -11.5% HDFC Bank (ADR) (0.6) -0.5% 5.2% 1.7% Axis Bank (GDR) 37.6 (0.3) -0.7% -3.2% -14.1% Reliance Ind (GDR) 28.9 (0.8) -2.5% 5.5% 1.1% COMMODITY MARKET Key Commodities Last Trade Change 1-D 1-Mth YTD Brent Crude ($/bl) % -4.0% 12.7% Silver ($/Oz) % -0.7% -3.6% Gold ($/Oz) 1, % -1.3% -2.1% Copper LME ($/MT) 6,832.0 (139.0) -2.0% 0.1% -5.2% Aluminium LME ($/MT) 2,171.8 (49.3) -2.2% -4.2% -3.7% Baltic Dry 1,442.0 (3.0) -0.2% 13.3% 5.6% CURRENCY RATES Last Trade Change 1-D 1-Mth YTD USD/INR % 0.4% 7.1% EUR/INR % -1.4% 3.2% RATES Last Trade Change 1-D 1-Mth YTD T-Bill - 91 D % -2.7% -1.5% 10 Year G-sec Yield % 0.4% 7.4% INVESTMENT ACTIVITY (RS. CR) Category BUY SELL NET Prev FII 4, ,741.0 (1,324.9) (1,524.7) DII 3, , EXCHANGE TURNOVER Exchange Rs Crore BSE Equity 2,420.3 BSE Derivatives 0.12 NSE Equity 26,499.4 NSE Derivatives 6,67,

2 Technical Research MARKET SYNOPSIS Negative global cues took a toll on the Indian bourses, as NSE-NIFTY breached its S1 (10,760 level) in the initial trade and later due to further decline the index has visited its S2 (placed at 10,700 mark) as well. Finally, NIFTY shut the shop with the loss of 89 points at 10,710 level. NSE Cash segment reported turnover of Rs26,499 crore as compared to Rs23,185 crore earlier. Overall market breadth remained negative, where 446 stocks advanced against 1280 declined stocks. Negative trend was observed across all the sectoral indices during the day, where Metal, PSU Bank and Realty emerged as top losers with the decrease of 1.76% to 2%. However rest of the sectoral indices reported fall in the range of 0.5% to 1.2%. NSE-NIFTY OUTLOOK NSE-NIFTY violated its make-or-break level 10,765 (coincides with the resistance-turned-support line) convincingly and later the index slipped to 9-day low amidst escalating trade spat between US and China. On the daily chart, NIFTY has formed Bearish Belt Hold pattern for straight second trading session in a row, signaling near-term weakness. Further decline in RSI and Stochastic and negative market breadth are also indicating the same. As mentioned earlier, near-term decline cannot be ruled out, where its medium-term and long-term moving averages (placed at 10,650 and 10,550 levels respectively) will try to limit the losses. On the higher side, a stable move above 10,860 level will bring the exuberance of visiting psychological level-11,000 back in trade. However as for the day, support is placed at around 10,650 and then at 10,600 levels, while resistance is observed at 10,765 and then at 10,835 levels. 2

3 Technical Research : PREV.CLOSE: 1269 RECO: SELL IN: RANGE TARGET: 1260 STOP LOSS: 1330 The stock has made a double top near 1333 levels and facing selling pressure over the past few days and closed below the short term averages. The key technical indicators-rsi are trading below the averages, signaling probable down-move in the stock. The stock could test the mid average and would decline to test the lower end of the candle in the coming few days. Short position can be initiated only in the range of Rs for the target of Rs 1260 with a stop loss of Rs

4 Derivatives Snapshot Nifty opened lower on back of weak global cues and continued to trade lower with sharp profit booking across sectors and stocks. Nifty declined by 89 points at 10,710 levels. Among the nifty stocks 8 advanced and 42 declined during the day. Sectorally, all sectors ended negative with the highest decline in Realty, PSU Banks and Metals by 2.1%, 1.5% and 1.6% respectively while other sectors by 0.8% average for the day. Broader market indices remained negative with NIFTY 100,200 and 500 to close down by 0.8% average while midcap and small cap indices declined by 1.2% and 1.5% respectively. Nifty June futures ends with 10 points premium at 10,720 mark, while on other hand, Bank Nifty June futures ended with the discount of 8 points at 26,258 mark. Nifty has broken on the downside from its range and closed at 10 day low. Nifty 10,700 has seen some unwinding as it closed at the money and it could see more covering in today s trade. The positive momentum will be only beyond 10,800 levels as the monthly candle turns positive. Sectoral Activity: Amongst sectoral index, Metals and Energy remained in focus with negative momentum. Stock Activity: Hindalco and MRPL have observed some amount of short buildup in today s trade. TOP 5 PRICE GAINERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance JAIPRAKASH ASSOCIATES LTD % 51.99% 7.83% CONTAINER CORP OF IND LTD % 50.81% -0.43% MOTHERSON SUMI SYSTEMS LT % 37.35% -4.00% CADILA HEALTHCARE LIMITED % % 0.23% KAVERI SEED CO. LTD % 62.47% 9.10% TOP 5 PRICE LOSERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance CG POWER AND IND SOL LTD % % 9.16% STEEL AUTHORITY OF INDIA % 54.09% -2.04% THE INDIA CEMENTS LIMITED % % 4.56% CESC LTD % % 1.42% RELIANCE COMMUNICATIONS L % 61.71% 1.14% TOP 5 OI GAINERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance SHREE CEMENT LIMITED % % 11.31% INDRAPRASTHA GAS LTD % 78.95% 9.85% SUN TV NETWORK LIMITED % 10.26% 9.16% CG POWER AND IND SOL LTD % % 9.16% KAVERI SEED CO. LTD % 62.47% 9.10% TOP 5 OI LOSERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance PAGE INDUSTRIES LTD % 31.61% -6.94% NIIT TECHNOLOGIES LTD % 9.40% -6.59% MUTHOOT FINANCE LIMITED % 43.13% -5.65% MRPL % % -4.87% KPIT TECHNOLOGIES LTD % 37.12% -4.77%

5 Derivatives Snapshot TOP 5 RISE IN % DEL CHG Stock Name LTP % Price Chg % Vol Chg %Del Chg Support Pivot Resistance GODREJ INDUSTRIES LTD % % % TATA GLOBAL BEVERAGES LTD % % % TATA ELXSI LIMITED % % % KAJARIA CERAMICS LTD % % % SHREE CEMENT LIMITED % % % TOP 5 DECLINE IN % DEL CHG Stock Name LTP % Price Chg % Vol Chg %Del Chg Support Pivot Resistance TATA COMMUNICATIONS LTD % % % TVS MOTOR COMPANY LTD % % % TORRENT POWER LTD % % % EXIDE INDUSTRIES LTD % % % IDFC BANK LIMITED % % % SECTORAL ACTIVITY Value Average of OI Average of Price Total Average of Total OI Change % Change % Volume Volume Change % Consumer Discretionary % -1.1% % Consumer Staples % -0.9% % Energy % -1.4% % Financials % -1.4% % Health Care % -0.3% % Industrials % -1.0% % Information Technology % -0.7% % Materials % -1.3% % Telecommunication Services % -1.4% % Utilities % -1.8% % Grand Total % -1.2% % 5

6 Pivot Table Name LTP Support 2 Support 1 Pivot Resistance 1 Resistance 2 Nifty Nifty IT Nifty Bank ADANI PORT & SEZ LTD ASIAN PAINTS LIMITED AXIS BANK LIMITED BAJAJ AUTO LIMITED BAJAJ FINSERV LTD BAJAJ FINANCE LIMITED BHARTI AIRTEL LIMITED BHARAT PETROLEUM CORP LT CIPLA LTD COAL INDIA LTD DR. REDDY S LABORATORIES EICHER MOTORS LTD GAIL (INDIA) LTD GRASIM INDUSTRIES LTD HCL TECHNOLOGIES LTD HDFC LTD HDFC BANK LTD HERO MOTOCORP LIMITED HINDALCO INDUSTRIES LTD HINDUSTAN PETROLEUM CORP HINDUSTAN UNILEVER LTD INDIABULLS HSG FIN LTD ICICI BANK LTD INDUSIND BANK LIMITED BHARTI INFRATEL LTD INFOSYS LIMITED INDIAN OIL CORP LTD ITC LTD KOTAK MAHINDRA BANK LTD LARSEN & TOUBRO LTD LUPIN LIMITED MAHINDRA & MAHINDRA LTD MARUTI SUZUKI INDIA LTD NTPC LTD OIL AND NATURAL GAS CORP LTD RELIANCE INDUSTRIES LTD STATE BANK OF INDIA SUN PHARMACEUTICAL IND L TATA MOTORS LIMITED TATA STEEL LIMITED TATA CONSULTANCY SERV LT TECH MAHINDRA LIMITED TITAN COMPANY LIMITED ULTRATECH CEMENT LIMITED UPL LIMITED VEDANTA LIMITED

7 Simple Moving Average Scrip Name Close Rate 20-SMA 50-SMA 100-SMA 200-SMA HIGH_52WEEK LOW_52WEEK NIFTY BANK NIFTY SENSEX ACC ADANIPORTS AMBUJACEM ASIANPAINT AUROPHARMA AXISBANK BAJAJ-AUTO BANKBARODA BHARTIARTL BHEL BOSCHLTD BPCL CIPLA COALINDIA DRREDDY EICHERMOT GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDEA INDUSINDBK INFRATEL INFY ITC KOTAKBANK LT LUPIN M&M MARUTI NTPC ONGC POWERGRID RELIANCE SBIN SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS TECHM ULTRACEMCO WIPRO YESBANK ZEEL

8 Bulk Deals Snapshot Deal Date Scrip Code Company Client Name Deal Type* Quantity Price 6/19/ ASHSI DHANLABH CONSULTANCY PRIVATE LIMITED B 74, /19/ ASHSI NARAYAN CHANDRA ROY S 74, /19/ BANASFN ESAAR INDIA LTD S 153, /19/ BANASFN NASIR AHMED KHAN B 153, /19/ DYNAMIND MONEY GROW INVESTMENT S 17, /19/ DYNAMIND MONEY GROW INVESTMENT B 17, /19/ GBLIL PUNJABI MOHAN LAXMANDAS S 50, /19/ KUBERJI GANDHI BALKRUSHNA S 21, /19/ KUBERJI GANDHI BALKRUSHNA B 21, /19/ KUBERJI SOLANKI PANKAJKUMAR MANUBHAI S 21, /19/ KUBERJI SOLANKI PANKAJKUMAR MANUBHAI B 21, /19/ KUBERJI RAKESHKUMAR MOTIBHAI PATEL S 21, /19/ KUBERJI RAKESHKUMAR MOTIBHAI PATEL B 21, /19/ LIBERTSHOE MILLENNIUM STOCK BROKING PVT LTD S 110, /19/ LIBERTSHOE MILLENNIUM STOCK BROKING PVT LTD B 109, /19/ PROAIMENT NASIR AHMED KHAN B 223, /19/ PROAIMENT ESAAR INDIA LTD S 223, /19/ SHAILJA RADHA AGARWAL B 25, /19/ SHAILJA MONIKA AGARWAL B 25, /19/ SHAILJA DEVESH COMMOSALE PRIVATE LIMITED S 40, /19/ SHARIKA GAURAV JITENDRAKUMAR SHAH B 57, /19/ TAHL BP COMTRADE PVT LTD S 14, /19/ TAHL BP COMTRADE PVT LTD B 16, *B - Buy, S - Sell, ** = Weighted Average Trade Price / Trade Price 8

9 Monthly Economic Calendar Date Country Event Period Survey Prior 21-Jun-18 UK Bank of England Bank Rate 21-Jun % 21-Jun-18 US Initial Jobless Claims 16-Jun Jun-18 IN Eight Infrastructure Industries May % 26-Jun-18 US Conf. Board Consumer Confidence Jun Jun-18 US Durable Goods Orders May P % 28-Jun-18 US GDP Annualized QoQ 1Q T % 28-Jun-18 US Initial Jobless Claims 23-Jun Jun-18 IN Fiscal Deficit INR Crore May , Jun-18 JN Jobless Rate May % 29-Jun-18 JN Industrial Production MoM May P Jun-18 UK GDP QoQ 1Q F % 29-Jun-18 UK GDP YoY 1Q F % 2-Jul-18 IN Nikkei India PMI Mfg Jun Jul-18 US ISM Manufacturing Jun Jul-18 AU Building Approvals MoM May % 3-Jul-18 AU RBA Cash Rate Target 3-Jul 1.50% 1.50% 3-Jul-18 HK Retail Sales Value YoY May % 3-Jul-18 US Durable Goods Orders May F Jul-18 IN Nikkei India PMI Services Jun Jul-18 IN Nikkei India PMI Composite Jun Jul-18 US Initial Jobless Claims 30-Jun Jul-18 US Change in Nonfarm Payrolls Jun k 9-Jul-18 JN BoP Current Account Balance May

10 Corporate Actions Ex-Dividend Company Name Ex-Date Purpose Tata Global Beverages Limited 20-Jun-18 Annual General Meeting / Dividend- Rs 2.50 Per Share S.E. Power Limited 20-Jun-18 Annual General Meeting V-Mart Retail Limited 20-Jun-18 Annual General Meeting/Dividend- Rs 2 Per Share Security and Intelligence Services (India) Limited 20-Jun-18 Annual General Meeting / Dividend- Rs 1.5 Per Share Syndicate Bank 20-Jun-18 Annual General Meeting Corporation Bank 20-Jun-18 Annual General Meeting Essel Propack Limited 20-Jun-18 Bonus 1:1 Jubilant Foodworks Limited 21-Jun-18 Bonus 1:1 Punjab & Sind Bank 21-Jun-18 Annual General Meeting Nilkamal Limited 21-Jun-18 Annual General Meeting/Dividend-Rs 9 Per Share Vijaya Bank 21-Jun-18 Annual General Meeting/Dividend- Rs 1.20 Per Share Oriental Carbon & Chemicals Limited 21-Jun-18 Dividend- Rs 7 Per Share Oriental Bank of Commerce 21-Jun-18 Annual General Meeting Max Ventures and Industries Limited 21-Jun-18 Rights Premium Rs 51/- PIL ITALICA LIFESTYLE LIMITED 21-Jun-18 Annual General Meeting Result Calendar Company name Board Meeting Date Purpose JBF Industries Limited 20-Jun-18 Financial Results Atlas Cycles (Haryana) Limited 23-Jun-18 Financial Results Fortis Healthcare Limited 25-Jun-18 Financial Results Opto Circuits (India) Limited 16-Jul-18 Financial Results Mahindra Lifespace Developers Limited 30-Jul-18 Financial Results/Other business matters TCI Express Limited 1-Aug-18 Financial Results TCI Developers Limited 1-Aug-18 Financial Results Transport Corporation of India Limited 2-Aug-18 Financial Results 10

11 Guided Allocation Towards Research Products Product Allocation (%) Max. Allocation in 1 stock (%) Number of Calls Frequency Call Duration Trading Products Intraday stocks Daily Daily Positional Calls/weekly calls/btst stocks Weekly Fortnightly TradEdge stocks Fortnightly Monthly Option Strategies stocks Weekly Weekly Cash 10 Total 100 Investment Products Product Allocation (%) Max. Allocation in 1 stock (%) Number of Calls Frequency Call Duration Rsec Model Portfolio stocks Monthly Half Yearly Stock In Focus stock Daily Quarterly Fundamental Calls Quarterly Yearly Initiating Coverage As and When Yearly Cash 5 Total

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