Evening newsletter 16th december 2013

Corporate Newsletter

SWASTIKA INTELLIGENCE GROUP 16th December 2013

Swastika Intelligence Group,

1st Floor, Bandukwala Building, British Hotel Lane, Fort Mumbai

MARKET SNAPSHOT

INDIAN MARKETS

INDICES SENSEX NIFTY-50 Current Val. 20659.52 6154.7 Points -56.06 -13.70 % Change -0.27 -0.22 High 20764.52 6183.25 Low 20637.77 6146.05 Prev. Close 20715.58 6168.40

EUROPEAN MARKETS UPDATE AT 4:00 PM

INDICES Last Closed Change

FTSE 6469.00 +28.99

CAC 4091.30 +31.61

DAX 9106.00 +99.51

NSE SECTORAL INDICES

Sector Current Value % Change

IT 9,110.25 +1.70

MEDIA 1,744.40 +0.57

PHARMA 7,313.75 +0.51

INFRA 2,407.90 +0.09

METAL 2,401.05 +0.09

BANK NIFTY 11,372.95 +0.05

FINANCE 4,723.30 +0.00

REALTY 172.25 -0.14

CONSUMPTION 2,504.25 -0.15

AUTO 5,150.70 -0.57

FMCG 16,501.85 -0.73

ENERGY 7,656.10 -1.15

Nifty Top Gainers

Symbol LTP Prev. Close % Change

SSLT 199.75 191.90 +4.09 INFY 3,451.00 3,373.85 +2.29 POWERGRID 99.20 97.50 +1.74 TATAPOWER 88.60 87.20 +1.61 COALINDIA 287.00 283.10 +1.38

Nifty Top Losers

Symbol LTP Prev. Close % Change

M&M 923.05 950.55 -2.89 JINDALSTEL 252.40 259.80 -2.85 SUNPHARMA 557.00 571.15 -2.48 RELIANCE 845.00 864.70 -2.28 BHARTIARTL 313.70 320.85 -2.23

CURRENCY UPDATE (RBI Reference Rate)

13th Dec 16th Dec

/$ 62.1266 62.1024

/£ 101.5335 101.2704

/€ 85.4135 85.4284

/100 ¥ 59.9000 60.4000

ADVANCES DECLINES UNCHANGED

NSE 373 509 45





NEWS UPDATES

Reliance Industries (RIL)is planning to shut a crude distillation unit (CDU) at its 660,000 barrels per day (bpd) Jamnagar refinery around early February for maintenance, the maintenance would likely last around two weeks and the capacity of the unit to be shut was estimated between 320,000 and 330,000 bpd. Spice Jet Limited, majority-owned by Kalanithi Maran, signed a three-year interline agreement with Singapore's largest budget airline - Tigerair - to strengthen connectivity between flights operated by both the carriers. Under the new agreement, customers traveling on SpiceJet’s domestic network can enjoy seamless connection through Hyderabad’s Rajiv Gandhi International Airport onto Tigerair’s Singapore-bound flight from January 6, 2014. The hearing in the additional spectrum case, in which Bharti Cellular CMD Sunil Mittal, Essar Group promoter Ravi Ruia and others have been summoned as an accused, has been fixed for February 20 next year by a Delhi court. Mittal and Ruia did not appear in the court on 16th december 2013 while former Telecom Secretary Shyamal Ghosh, who is also an accused in the case, appeared before it. CBI, in its charge sheet, had named Shyamal Ghosh and the three telecom companies as accused in the case relating to the Department of Telecommunications (DoT) allocating additional spectrum which had allegedly resulted in a loss of Rs 846 crore to the exchequer. GlaxoSmithKline Pharmaceuticals has initiated a voluntary open offer to increase its stake in its Indian pharmaceutical unit - GlaxoSmithKline Pharmaceuticals Limited - from 50.7% to up to 75% at a price of Rs 3,100 per share. The potential total value of the transaction at the offer price is approximately Rs 6,400 crore (£629 million). The offer, to acquire up to 20.6 million shares, represents 24.3% of the total outstanding shares of the Indian company. Tata Steel Europe's future after it announced asset impairment of $1.6-billion (Rs 8,609 crore), became the biggest by an Indian company. Steel demand in Europe was down 30 per cent from its 2007 peak, leading to lower capacity use, poor realisation and squeezed margins. Just six months later, Tata Steel's European business has surprised everybody - it helped its parent post a higher-than-expected operating profit in the second quarter this financial year. Tata Steel's international operations reported an operating profit of Rs 645 crore in the September quarter against a loss of Rs 211 crore in the year-ago period. Revenue was up seven per cent to Rs 26,544 crore, highest in five years and up 50 per cent from the lows of 2009. This was the second consecutive quarter of revenue growth at Tata Steel Europe, contributing 60 per cent of the parent's consolidated revenue. Tata Steel also has plants in Thailand and Singapore, which account for a little over a tenth of its consolidated revenues, while Europe accounts for the rest. The wholesale price index (WPI) for the month of November shot up to a 14-month high of 7.52 percent from 7 percent in the previous month, led by higher primary, food and fuel prices. The street was largely expecting the November WPI to stay at 7 percent. The September WPI number has also been revised upwards at 7.05 percent from the provision figure of 6.46 percent. The biggest culprit remains food inflation which accelerated to 19.93 percent in November from 18.19 percent in October. The primary articles inflation for the month rose to 15.92% versus 14.68% in October. Food inflation had caused a similar spike in the consumer price index (CPI), which came in at 11.24 percent in November. The Reserve Bank is expected to hike repo rate by 25 bps to combat soaring prices. The RBI will announce its monetary policy on December18th 2013.





Disclaimer: This document is solely for the personal information of the intended recipient and must not be exceptionally used as the basis for any investment decision. Nothing in this document should be construed as investment, Legal, taxation or financial advice. Swastika Investmart Ltd. is not soliciting any action based upon it. Each recipient of this document should make necessary investigations as they consider important to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved). This report has been made based on information that we consider reliable and are publicly available but we do not state that it is accurate or complete and it should not be solely relied upon such, as this document is for. Swastika Investmart Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within this document. Swastika Investmart Limited or any of its affiliates/ group companies, or employees shall not be in any way held responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Swastika Investmart Limited has not independently verified the information contained in this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly.

Disclaimer: This document is solely for the personal information of the intended recipient and must not be exceptionally used as the basis for any investment decision. Nothing in this document should be construed as investment, Legal, taxation or financial advice. Swastika Investmart Ltd. is not soliciting any action based upon it. Each recipient of this document should make necessary investigations as they consider important to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved). This report has been made based on information that we consider reliable and are publicly available but we do not state that it is accurate or complete and it should not be solely relied upon such, as this document is for.

Report Prepared by Designation E-mail ID Saloni Gupta Research Associate [email protected]

RESEARCH TEAM SWASTIKA INTELLIGENCE GROUP [email protected] Santosh Sahu Research Head [email protected] Santosh Meena Derivatives & Technical Analyst [email protected] Amit Khare Commodity Analyst [email protected] Vishnu shreekar Commodity Analyst [email protected] Sonakshi Bahety Research Associate [email protected]





Swastika Investmart Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within this document. Swastika Investmart Limited or any of its affiliates/ group companies, or employees shall not be in any way held responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Swastika Investmart Limited has not independently verified the information contained in this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly.

Economy & Finance

Evening newsletter 16th december 2013