JSPL gets over 2,000 tonne rails order from Kolkata Metro: MD

ZEE to invest Rs522cr in tech subsidiary Margo Networks

Zydus Cadila gets USFDA nod to market generic type 2 diabetes drug

L&T Construction bags orders in the range of Rs2,500-5,000cr

The People’s Bank of China purchased 1.75crore shares in HDFC Ltd

Dr. Reddy's Labs API manufacturing plant at Telangana received EIR from USFDA

GMR Airports received letter of award for development and operations of Bhogapuram airport

Lupin’s Mandideep Unit II facility receives EIR from USFDA

TCS BaNCS to power Israel’s first fully Digital Bank

Hindalco unit Novelis acquires US-based Aleris Corp in USD2.8bn deal

L&T arm bags Delhi-Meerut elevated rail section contracts

Reliance Industries raises Rs8,500cr in bonds

Biocon Biologics receives EIR from USFDA for two manufacturing facilities in Bengaluru

Oberoi Realty repays NCDs worth Rs125cr

Fiscal deficit at 5.07% of GDP in February, likely to increase in March

Outlook for India’s economy bleak, as per IMF and Barclays

India exports dip by 34.57% in March; total shipment at USD314bn in 2019-20

Automobile dealers seek immediate financial support from OEMs, govt to stay afloat

ICMR releases plasma trials protocol, seeks registrations

India's wind installation for 2020 likely to fall drastically

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KSB Ltd: The company has launched CHTRa, a heavy duty API pump handling petroleum, petrochemical and water transfer. It was earlier manufactured in Germany but now only India will manufacture this product and supply worldwide.

FDC Limited:

CMP- Rs240 | Target Price- Rs325| Horizon- 12 months| Industry-Pharmaceuticals

The Week That Went By:

Post 12% gains in the previous week, Benchmark Index started the week on an infirm note with a 200 points cut mainly led by Pharma stocks. In the afternoon session, cement stocks took the leadership and pushed the market higher but faced resistance at around 9100 and came-off from high’s. On 2nd trading session, complete reversal was observed as 200 points gap-up opening was seen but was found resistance at around 9230. In the afternoon session, sharp fall was witnessed across the board and Index wiped off all its gain. Day of weekly expiry started with a moderate loss. Index trimmed all its losses in the opening trade itself and soared higher throughout the day. Last day of the week belongs to bull as robust opening was seen but after the RBI governor's press conference it came-off sharply. After consolidating at around 9100, Index recovered from the lower levels with the help of financial stocks Nifty 50=9266.75 BSE Sensex30=31588.72 Nifty Midcap 100=13046.80 Nifty Smallcap100=4091.15

Recommendations adjusted as per Corporate Actions

Company Reco Target Corp Action Adj Price Adj Tgt Price

Appreciation

IHP Ltd 341 600 Bonus 1 : 1 171 500 -8%

Engineers India Ltd 211 200 Bonus 1 : 1 105 200 -37%

Gulshan Polyols Ltd 390 500 Stock Split from Rs.FV 5 to Rs.FV 1 110 78 -70%

Nesco Ltd 2397 3200 Stock Split from Rs.FV 10 to Rs.FV 2 479 640 -2%

Castrol India Ltd 447 550 Bonus 1 : 1 223 200 -48%

Hikal Ltd 143 325 Bonus 1 : 2 95 216 15%

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Coverage Universe Valuations

Company Reco Reco at (Rs)

CMP (Rs)

Tgt price (Rs)

Appreciation 1M Var 3M Var 12M Var

Supreme Petrochem Ltd BUY 77 141 275 83% 14.8% -24.9% -36.5%

Shanthi Gears Ltd BUY 107 80 150 -26% 14.4% -24.9% -38.9%

Hind Rectifiers Ltd BUY 69 140 275 103% 10.7% -41.9% 6.6%

KCP Ltd BUY 71 47 105 -35% -9.8% -34.0% -49.2%

The Hitech Gears Ltd BUY 298 98 300 -67% -10.0% -52.2% -66.2%

Bharat Bijlee Ltd BUY 787 667 1500 -15% 30.8% -25.0% -38.3%

Triveni Turbines Ltd BUY 92 64 150 -30% -4.6% -34.8% -40.9%

Siemens Ltd BUY 1128 1197 1750 6% 5.3% -24.7% 0.9%

GMM Pfaudler Ltd BUY 332 3118 3200 839% 23.2% 41.3% 157.7%

Alicon Castalloy Ltd BUY 288 207 650 -28% -7.8% -52.1% -65.5%

Gufic Biosciences Ltd BUY 50 62 120 24% 21.2% -2.7% -29.3%

Excel Industries Ltd BUY 380 631 1200 66% 24.7% -32.8% -43.2%

Vesuvius India Ltd BUY 1165 895 1300 -23% -3.8% -20.3% -22.5%

Munjal Showa Ltd BUY 191 76 191 -60% 17.6% -48.1% -53.2%

Bharat Rasayan Ltd BUY 2747 6581 9000 140% 17.7% 2.5% 49.6%

Alkyl Amines Chemicals Ltd BUY 391 1525 1700 290% 25.8% 18.8% 145.4%

Grauer and Weil (India) Ltd BUY 45 38 65 -17% -1.7% -29.3% -22.7%

Texmaco Rail & Engineering Ltd BUY 91 27 91 -71% 48.5% -33.8% -61.1%

Nagarjuna Agrichem Ltd BUY 29 26 45 -9% 10.7% -8.6% -14.5%

ITD Cementation India Ltd BUY 158 41 100 -74% 5.0% -29.5% -67.8%

Westlife Development Ltd BUY 266 333 450 25% -1.3% -12.3% -17.8%

Dynamatic Technologies Ltd BUY 2160 605 1700 -72% -4.7% -40.1% -60.5%

Hitech Corporation Ltd BUY 175 56 125 -68% -64.3% -37.8% -45.7%

NRB Bearings Ltd BUY 138 67 138 -51% 0.1% -39.6% -64.9%

Kokuyo Camlin Ltd BUY 132 50 132 -62% 8.3% -41.8% -47.1%

Timken India Ltd BUY 883 815 1250 -8% -6.5% -11.9% 40.2%

Morganite Crucible (India) Ltd BUY 1047 1450 2500 38% -5.2% -4.7% -6.1%

Vardhman Special Steels Ltd BUY 151 43 110 -71% -20.3% -48.0% -54.7%

Zen Technologies Ltd BUY 115 44 125 -62% 57.7% -30.5% -42.0%

KSB Ltd BUY 820 505 1100 -38% -2.8% -30.6% -26.2%

Thermax Ltd BUY 1019 701 1230 -31% -9.8% -34.9% -28.7%

Transpek Industry Ltd BUY 1547 1400 2000 -10% -0.7% 3.7% -10.4%

BASF India Ltd BUY 1954 1105 1400 -43% 11.2% 5.5% -19.8%

Artson Engineering Ltd BUY 64 26 55 -59% 21.8% -38.2% -35.0%

Remsons Industries Ltd BUY 104 60 130 -42% 8.0% -20.0% -33.4%

Snowman Logistics Ltd BUY 33 31 55 -6% -10.7% -27.6% -7.6%

Alembic Pharmaceuticals Ltd BUY 605 616 751 2% 13.0% 2.8% 14.5%

SKF India Ltd BUY 1942 1465 2620 -25% -14.0% -34.1% -27.2%

HFCL Ltd BUY 25 11 25 -55% 7.5% -35.5% -50.9%

Sudarshan Chemical Industries Ltd BUY 372 422 500 13% 16.2% -10.1% 23.0%

Huhtamaki PPL Ltd BUY 254 214 320 -16% -4.2% -19.1% -3.4%

Mishra Dhatu Nigam Ltd BUY 123 226 190 84% 12.4% 36.2% 68.7%

Anuh Pharma Ltd BUY 142 149 175 5% 26.7% 2.8% 13.8%

Kirloskar Pneumatic Co. Ltd BUY 134 99 192 -26% -15.2% -28.7% -47.9%

Integra Engineering India Ltd BUY 37 23 50 -37% 2.2% -45.5% -57.1%

ICICI Bank Ltd BUY 535 376 657 -30% 2.5% -29.2% -6.8%

Srikalahasthi Pipes Ltd BUY 205 140 250 -32% -8.5% -32.5% -38.3%

Acrysil Ltd BUY 115 67 150 -42% -15.8% -30.3% -37.2%

Paushak Ltd BUY 2210 2000 3200 -10% -3.8% -27.8% -9.1%

FDC Ltd BUY 240 238 325 -1% 16.2% 3.5% 44.3%

IHP Ltd BUY 171 158 500 -8% 7.3% -37.8% 11.0%

Engineers India Ltd BUY 105 66 200 -37% 20.6% -35.3% 11.2%

Gulshan Polyols Ltd BUY 78 23 78 -70% -20.1% -56.6% -57.4%

Nesco Ltd BUY 479 470 800 -2% -12.3% -33.5% -8.2%

Castrol India Ltd BUY 223 116 200 -48% 2.0% -16.3% 41.7%

Hikal Ltd BUY 95 110 175 15% 29.0% -14.7% -7.2%

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On a daily chart, Nifty is forming rising wedge formation which comes at around 38.2% retracement. BankNifty has given a breakout from its stiff resistance. After a double bottom formation, sharp bounce was seen in Metal sector which is likely to continue. Profit booking can be expected in FMCG and Pharma counters. Broader markets outperformed frontline index after a long time and the same momentum can extend.

MARKET OUTLOOK

NIFTY (WEEKLY)

BANK NIFTY (WEEKLY)

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NIFTY 50 COMPONENTS (WEEKLY PERFORMANCE)

SECTORAL PERFORMANCE

HDFC Bank -0.76

Hero Motocorp -6.79

Hindalco 15.67

HUL 0.35

ICICI Bank 9.65

Indusind Bank 19.71

Infratel -3.22

INFY -0.22

IOC 3.12

ITC 1.79

Jsw Steel 8.04

Kotak Bank -5.61

LT 16.15

M&M -5.35

Maruti 4.28

Nestle India 3.34

NTPC 9.37

ONGC -1.42

PowerGrid 2.04

Reliance 1.00

SBIN 2.85

Shree Cement 12.21

Sun Pharma 1.07

Tata Motors 3.15

Tata Steel 2.92

TCS 2.78

Tech Mahindra -6.58

TITAN -3.80

Ultratech 5.69

UPL 13.73

VEDL 9.18

Wipro -4.78

Zee Entertainment -6.35

Adani Ports 6.91

Asian Paints 6.93

Axis Bank 14.62

Bajaj Auto -2.02

Bajaj Finserv 3.88

Bajaj Finance -8.97

Bharti Airtel 2.37

BPCL 4.03

Britannia 0.97

Cipla 2.76

Coal India 5.72

DR Reddy’s Labs 9.34

Eicher Motors 7.30

Gail 1.59

Grasim 2.65

HCL Tech -2.77

HDFC -1.29

* Gain/ Loss in %

Metal sector outperformed Benchmark Index with gains of over 6%. Moil and Hindalco outperformed the sector with returns of 21.87% and 15.67% respectively. Stocks like Vedl, Sail, JSW Steel ended the week with gains of 9.18%, 8.35%, 8.04% respectively. APLApollo and Welcorp were only the underperformers.

Page No 5

SECTORAL GAINER

With a minor loss of 0.62%, IT sector underperformed and made a bearish harami candlestick pattern. Mixed trend was seen as stocks like TCS, Tata Elxsi, Mindtree outperformed while underperformance was seen by HCLTech, Tech Mahindra and Wipro.

SECTORAL LOSER

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