Religare Morning · PDF fileReligare Morning Digest September 15, 2017 Nifty Outlook ... Holdings BV to sell its Haldia fertilizer unit in West Bengal for Rs 400- 500 ... Maharashtra

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Religare Morning Digest

September 15, 2017

Nifty Outlook

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

NIFTY 9960 10200 9900

Nifty traded range bound and ended flat, taking a breather after the recent recovery. After an initial uptick, it hovered in a band till the end, tracking mixed local cues. Meanwhile, movement continued on stock specific front while mostly sectoral indices closed unchanged.

We’re closely aligned to the world markets at present and the recent surge, after ease in the geo-political issues, has strengthened that tie. And, conditions are favorable for the benchmark to move higher and make newer highs. But, it’s not going to be easy sail for traders due to lack of momentum in Nifty and volatility on stock specific front. Thus we suggest focusing more on trade selection and its management and the rest will fall into place.

Sectors to watch

Sector Name Outlook

AUTO STABLE

ENERGY STABLE

REALTY WEAK

News

Religare Super Ideas**

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

Category Amt. MTD FYTD

FII -827 -6710 -32078

DII 726 4858 45905

NO OF CON-

TRACTS

TURNOVER IN CR

IDXFUTS 147049 12635

IDXOPT 9442585 898267

STKFUTS 693803 51095

Derivative Ideas **

Bharat Heavy Electricals gained as the firm, along with Kawasaki, will make rolling stock for the Mumbai-Ahmedabad bullet train. The bullet train project is expected to be completed within 2023, after which the train will be capable of running at the high speed of 350 km per hour.

Tata Chemicals has said it is in advanced talks with the Netherlands-based Indorama Holdings BV to sell its Haldia fertilizer unit in West Bengal for Rs 400- 500 crores. Indorama Holdings is a subsidiary of Singapore-based Indorama Corporation.

Tata Steel said a final decision on merging its European business with German major ThyssenKrupp is yet to be taken as the "strategic discussions" are still continuing. Both the companies have been in discussion for a merger of their steel businesses for almost over a year.

*FII & DII data as on 13th September 2017

Scrip Buy/Sell CMP Initiation

Range SL* Target

VGUARD BUY 194.80 192-194 185 215

PCJEWELLER SELL FUTS

341.30 346-349 362 325

**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.

Instrument B/S Lot INITIATION

RANGE SL

TAR-GET

SIEMENS BUY

1400CE 500 16-17 10 32



September 15, 2017

Religare Super Ideas

Investment Pick - Garware Wall Ropes Ltd

Garware Wall Ropes Ltd (GWRL) reported impressive numbers for Q1FY18 with net revenue and PAT growth of 11.8% & 31.2% YoY respectively. EBITDA margin

gains of 127bps YoY (15.3%) was encouraging.

We remain positive on GWRL's long term growth prospects, given its niche presence in fast growing technical textiles space. With innovative offerings, entry in

high growth segments & widening export reach, GWRL would register healthy revenue and profit growth over the next two years. We recommend a BUY on the stock with target price of Rs 1,083.

Scrip CMP Target Duration Recommendation Price

GARWALLROP 882.10 1,083 9-12 Months 920

SIEMENS added around 8% in open interest as

fresh long positions with some delivery based

buying in previous session. Current chart pattern

too indicate fresh surge in price. We suggest buying

SIEMENS September call options as per levels

mentioned below.

Strategy: Buy SIEMENS SEP 1400CE BETWEEN

16-17, SL-10, TGT-32

Derivative Ideas

V-Guard Industries Limited (VGUARD) PC Jeweller Limited (PCJEWELLER)

Post breakout from its trading range that lasted

for almost four months, VGUARD has retraced

marginal of late and reached closer to the support

zone around 190 level, offering fresh opportunity

to enter. We suggest traders to utilize this pause

and accumulate fresh longs in the given range.

After making a record high, PCJEWELLER has been

witnessing profit booking for last one month. Its

chart pattern indicates possibility of further slide

thus traders should use any bounce to go short in the

given range.



September 15, 2017

Religare Investment Calls

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

Cigniti Technologies Ltd. 5-Oct-16 419 538 28.3% 258.3

Fiem Industries 26-Dec-16 1,089 1,315 20.8% 954.8

Greenply Industries 3-Feb-17 268 304 13.4% 271.1

Arman Financial Services 22-Feb-17 226 340 50.0% 226.1

Indo Count Industries Ltd. 17-May-17 198 240 21.2% 122.4

SML Isuzu 25-May-17 1,247 1,525 22.3% 963.0

Tv Today Network 2-June-17 263 335 27.3% 281.4

APL Apollo Tubes 12-July-17 1,596 2,352 47.4% 1,734.5

Force Motors 27-July-17 4,104 4,897 19.3% 4,120.5

Zee Entertainment Enterprises 28-July-17 539 592 9.8% 529.3

CRISIL 01-Aug-17 1,858 2,419 30.2% 1,874.5

Sutlej Textiles 01-Aug-17 894 951 6.3% 909.1

LIC Housing Finance 09-Aug-17 681 748 9.8% 659.4

Eicher Motors Ltd 09-Aug-17 31,630 40,467 27.9% 32,065.2

Wonderla Holidays 17-Aug-17 339 430 26.8% 350.3

The Byke Hospitality 17-Aug-17 195 242 24.1% 183.3

Century Plyboards 18-Aug-17 251 307 22.3% 252.3

NRB Bearings 18-Aug-17 118 139 17.8% 120.4

Srikalahasthi Pipes Ltd 18-Aug-17 362 416 14.8% 345.0

Avanti Feeds 21-Aug-17 1,921 2,240 16.6% 1,879.4

Jain Irrigation Systems Ltd. 23-Aug-17 93 125 34.4% 104.3

Jamna Auto Industries 31-Aug-17 252 279 10.7 % 256.0

Mold-Tek Packaging Limited 31-Aug-17 301 340 13.0 % 299.4

Swaraj Engines Ltd 31-Aug-17 1,985 2,201 10.9% 2,056.7

Mayur Uniquoters Ltd 01-Sept-17 360 460 27.7% 363.1

Castrol India 01-Sept-17 389 426 9.6% 387.8

Symphony Ltd 07-Sept-17 1,297 1,632 25.8% 1,380.9

Garware Wall Ropes Ltd 12-Sept-17 920 1,083 17.7% 882.1



September 15, 2017

Corporate Action Calendar — September 2017 (Cash Dividend)

Sun Mon Tue Wed Thu Fri Sat

10 11

OCL India Ltd

Amrit Corp Ltd

Hindustan Media Ventures Ltd

Kintech Renewables Ltd

Claris Lifesciences Ltd

Engineers India Ltd

Panache Innovations Ltd

Cineline India Ltd

JB Chemicals & Pharmaceuticals Ltd

Bhagwati Autocast Ltd

Coral Laboratories Ltd

Kamadgiri Fashion Ltd

Power Grid Corp of India Ltd

Power Grid Corp of India Ltd

Tamil Nadu Newsprint & Papers Ltd

Ujaas Energy Ltd

Patels Airtemp India Ltd

12

I G Petrochemicals Ltd

Dalmia Bharat Ltd

National Plastic Industries

NR Agarwal Industries Ltd

DHP India Ltd

Narmada Gelatines Ltd

Nagreeka Capital & Infrastructure Ltd

Container Corp Of India Ltd

Container Corp Of India Ltd

Dynemic Products Ltd

Maharashtra Seamless Ltd

Jindal Drilling & Industries Ltd

Acrysil Ltd

Andhra Sugars Ltd/The

Prithvi Exchange India Ltd

Donear Industries Ltd

Simplex Infrastructures Ltd

BLS International Services Ltd

Deepak Fertilisers & Petrochemicals Corp Ltd

National Steel & Agro Industries Ltd

HP Cotton Textile Mill

13

Nirlon Ltd

Oberoi Realty Ltd

Himadri Speciality Chemical

Gloster Ltd

Amrutanjan Health Care Ltd

Oracle Financial Services

Rashtriya Chemicals & Fertilizers Ltd

Ruchira Papers Ltd

PTC India Financial Services

Brigade Enterprises Ltd

Orient Bell Ltd

Kothari Products Ltd

GP Petroleums Ltd

LUX Industries Ltd

Repco Home Finance Ltd

PTC India Ltd

Captain Polyplast Ltd

Vipul Ltd

Cox & Kings Ltd

Superhouse Ltd

Maris Spinner Ltd

Black Rose Industries Ltd

NHPC Ltd

BEML Ltd

Swan Energy Ltd

Bharat Seats Ltd

MAC Charles India Ltd

Zodiac JRD MKJ Ltd

Sterling Tools Ltd

14

Reliance Infrastructure Ltd

NIIT Technologies Ltd

Choksi Imaging Ltd

SML ISUZU Ltd

KP Energy Ltd

United Breweries Ltd

HT Media Ltd

Luharuka Media & Infra Ltd

Comfort Commotrade Ltd

Arex Industries Ltd

KIFS Financial Services Ltd

SMIFS Capital Markets Ltd

Himatsingka Seide Ltd

Jain Irrigation Systems Ltd

ABC Bearings Ltd

Bodal Chemicals Ltd

Shristi Infrastructure Development

HeidelbergCement India Ltd

Vadilal Enterprises Ltd

Garware Polyester Ltd

NMDC Ltd

Rico Auto Industries Ltd

Rodium Realty Ltd

Mahanagar Gas Ltd

Mold-Tek Packaging Ltd

Tourism Finance Corp of India Ltd

Rural Electrification Corp Ltd

Welspun Enterprises Ltd

Delta Corp Ltd

Jain Irrigation Systems Ltd

15

APM Industries Ltd

UFO Moviez India Ltd

Mangalore Chemicals & Fertilizers

Mercury Laboratories Ltd

Sumedha Fiscal Services Ltd

Ganesha Ecosphere Ltd

Sakthi Finance Ltd

Talbros Automotive Components Ltd

Indo-National Ltd

Kakatiya Cement Sugar & Industries

Rishiroop Ltd

Divi's Laboratories Ltd

Anuh Pharma Ltd

Divyashakti Granites Ltd

Emco Ltd

Amarjothi Spinning Mills Ltd

Jindal Saw Ltd

Kilpest India Ltd

Alpine Housing Development Corp

Sakuma Exports Ltd

CG-Vak Software & Exports Ltd

Rasoi Ltd

Dwitiya Trading Ltd

Ansal Housing & Construction Ltd

Bannari Amman Spinning Mills Ltd

Radix Industries India Ltd

Vidhi Specialty Food Ingredients Ltd

Appu Marketing & Manufacturing Veljan Denison Ltd

SRI Adhikari Brothers Television

16



September 15, 2017

Corporate Action Calendar — September 2017 (Stock Split)


10 11

Deccan Cements Ltd

12 13 14

Borosil Glass Works Ltd

15

NESCO Ltd

16

Economic Calendar — September 2017


10 11

BoP Current Account Balance

Trade Balance

Exports YoY

Imports YoY

12

Manpower Survey

CPI YoY

Industrial Production YoY

13 14

Wholesale Prices YoY

15 16

Corporate Action Calendar — September 2017 (Acquisition)

Date Target Company Acquirer Company

9/15/2017 Force Fitness India Pvt Ltd Talwalkars Better Value Fitness Ltd

9/15/2017 Alchemy Web Pvt Ltd JSW Ventures Fund Managers LLP

9/16/2017 ONS Ventures Sdn Bhd Coffee Day Enterprises Ltd



September 15, 2017

Current Portfolio and Performance Summary as on 14th September’17

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

Amara Raja Batteries Auto March 22, 2017 9.8% 868 783

TV Today Network Media & Ent. May 10, 2017 10.3% 279 281

RBL Bank Financial Services July 11, 2017 9.6% 532 532

Muthoot Finance Financial Services July 26, 2017 10.5% 482 508

Talwalkars Better value

Fitness Health Fitness July 27, 2017 9.8% 302 290

Va Tech Wabag Infrastructure August 16, 2017 9.7% 636 630

Nilkamal Plastic Products August 17, 2017 9.3% 1,682 1,586

CDSL BFSI August 23, 2017 9.9% 334 348

PPAP Automotive Auto Ancillaries September 14, 2017 9.9% 383 380

Cash 11.3%

Total 100%



September 15, 2017

Historical Performance as on 14th September’17

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

Religare Alpha 1.3% 9.6% 7.2% 36.9%

Nifty 4.9% 10.1% 15.6% 27.9%

Outperformance -3.6% -0.6% -8.3% 9.0%



September 15, 2017

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.



September 15, 2017

Hitesh Agrawal [email protected]

Ajay Pasari, CFA [email protected]

Ajit Mishra [email protected]

Archana Gude [email protected]

Manoj M Vayalar [email protected]

Mehernosh Khurshed Panthaki [email protected]

Siji A Philip [email protected]

Suhanee Shome [email protected]

Team Members



September 15, 2017

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[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]

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No

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No

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Religare Morning · PDF fileReligare Morning Digest September 15, 2017 Nifty Outlook ... Holdings BV to sell its Haldia fertilizer unit in West Bengal for Rs 400- 500 ... Maharashtra