Trendlyne Blog: The Baseline, Latest on stock market and finance in India and the world.

02 Mar 2017

Economists surprised by strong GDP numbers

"Forecasting India's GDP has become like predicting the English weather," one senior economist with an international ratings agency told Reuters, and many economists are taken aback by GDP numbers that are substantially higher than their predictions post demonetization. The government has seized on the strong growth numbers, with Prime Minister Modi telling a crowd in UP that, "Hard work is more important than Harvard."

Economists are pointing to government figures showing growth in consumer spending hitting a four-year high, even as sales of beverages, home appliances and vehicles fell. In some sectors numbers released for January and February sales by companies such as Maruti Suzuki, have shown stronger domestic sales compared to the same period last year.

DLF's Board of Directors has approved a proposal for promoters to sell 40% of their stake in a rental unit, which is expected to raise about Rs. 12,000 crore. The amount raised will reduce DLF's debt, in a transaction the company is calling a "game changer" for the firm.

Stock in spotlight: Trigyn Technologies, which began to rise yesterday even before the announcement of winning a 12 year IT contract with the state of Maryland.

Photo of the day: Deer cross the road in front of Indonesia's honor guard, outside the Presidential palace. Adek Berry/AP

The Baseline

01 Mar 2017

Maruti Suzuki sales soar in February

As more evidence emerges of the economy bouncing back post-demonetization, Maruti Suzuki reported strong February sales that beat last year's numbers with numbers up 10.9%. A total of 130,280 units were sold this February compared to around 117,451 in February last year. The biggest jump in sales have been in mid-size and SUV models, while mini and super-compact cars saw a dip. Growth has been driven by the Ciaz, Ertiga and Brezza models.

The RBI is turning its attention to the pile of bad loans at Indian banks, with RBI official Viral Acharya proposing the creation "bad bank"-type institutions to buy and restructure stressed loans. The Central Bank also wants to take a "tough love" approach to lax banking practices and defaulters, with Acharya saying that failing to tackle the problem could lead India into crisis similar to Japan's stagnation in the 1990s.

Stock in spotlight: Persistent Systems, which has signed an agreement with the USAA - a Fortune500 financial services provider that serves the military and their families. The agreement will give Persistent development rights to a number of patented digital security innovations owned by the USAA.

Photo of the day: A girl blows bubbles during a march outside Delhi University against violence on students and faculty members. AFP/Getty Images

The Baseline

28 Feb 2017

Tata Sons settles dispute with Japan's Docomo

Tata Sons has agreed to pay $1.17 billion to Japan's Docomo in a settlement, ending the dispute over the telecom joint venture. Tata Teleservices and DoCoMo have been locked in a long tussle over the Japanese company's move to exit a partnership formed in 2009. Docomo initiated arbitration over the issue in a London court and won the case, and Tata was ordered to pay $1.17 billion as penalties.

The Securities and Exchange Board of India (Sebi) has begun an audit of 15 Indian brokers who allegedly got unfair access to the algorithmic trading systems at the National Stock Exchange of India (NSE). SEBI is working to determine the extent of unlawful gains they may have made, and may initiate disciplinary proceedings against these brokers if they are found to be guilty of misusing the systems.

Stock in spotlight: Jagran Prakashan, whose subsidiary Music Broadcast Ltd is set to list for IPO on March 6. The price band for the MBL IPO has been fixed between Rs. 324 - Rs 333 per equity share.

Photo of the day: Voters queue up to cast their vote at a polling station in Allahabad, Uttar Pradesh. Rajesh Kumar Singh/AP

The Baseline

27 Feb 2017

Research reports for the week - Feb 23-27

Over 30 research reports have landed this week, from HDFC Securities, Angel Broking and more. Stock pick of the week from analysts is KSB Pumps, which had posted strong December quarter results.

Date	Stock	Target	Upside (%)	Type	CMP	Broker	Change in past 6M
2017-02-23	Endurance Technologies Ltd	744.00	4.53%	Buy	711.75	HDFC Securities
2017-02-23	Aurobindo Pharma Limited	877.00	28.40%	Buy	683.00	Angel Broking	1x Reco
2017-02-23	Castrol India Limited	478.00	14.38%	Buy	417.90	ICICI Securities Limited	1x Reco
2017-02-23	Bharti Airtel Limited	410.00	15.41%	Buy	355.25	ICICI Securities Limited	1x Reco 1x Reco
2017-02-22	Cadila Healthcare Limited	-	-%	NEUT.	443.20	Angel Broking	1x Reco 1x Reco
2017-02-22	Dr. Reddy's Laboratories Lim..	-	-%	NEUT.	2871.00	Angel Broking
2017-02-22	IPCA Laboratories Limited	613.00	7.73%	ACC.	569.00	Angel Broking	1x Reco 2x Reco
2017-02-22	Tata Consultancy Services Li..	2672.00	6.92%	Buy	2499.00	Chola Wealth Direct and 1 other	2x Reco 5x Reco
2017-02-22	Atul Auto Limited	519.00	23.56%	Hold	420.05	Karvy	1x Reco 2x Reco
2017-02-22	Nestle India Limited	7522.00	18.22%	Buy	6362.85	Karvy	2x Reco 1x Reco
2017-02-22	Elecon Engineering Company L..	59.00	10.69%	Hold	53.30	Karvy	1x Reco
2017-02-22	Fineotex Chemical Limited	40.00	14.61%	Buy	34.90	Karvy
2017-02-22	Jain Irrigation Systems Limi..	115.00	23.79%	Buy	92.90	Karvy
2017-02-21	Equitas Holdings Limited	210.00	18.01%	Buy	177.95	HDFC Securities
2017-02-21	Havells India Limited	469.00	16.29%	Buy	403.30	HDFC Securities and 1 other	1x Reco 3x Reco
2017-02-21	Ambuja Cements Limited	200.00	12.28%	Sell	228.00	HDFC Securities and 1 other	1x Reco
2017-02-21	Maharashtra Seamless Limited	325.00	-3.76%	Hold	337.70	ICICI Securities Limited
2017-02-21	KSB Pumps Limited	700.00	12.90%	Buy	620.00	ICICI Securities Limited	1x Reco
2017-02-21	Wipro Limited	540.00	9.89%	NEUT.	491.40	Motilal Oswal	1x Reco
2017-02-21	Balkrishna Industries Limited	1261.00	0.45%	Buy	1255.35	Chola Wealth Direct	2x Reco 1x Reco
2017-02-21	JK Cement Limited	996.00	11.67%	Buy	891.90	Chola Wealth Direct	1x Reco
2017-02-21	Minda Industries Limited	450.00	8.96%	Buy	413.00	Karvy and 1 other	1x Reco 1x Reco
2017-02-20	PI Industries Limited	1046.00	21.49%	Buy	861.00	Motilal Oswal and 1 other	1x Reco 1x Reco
2017-02-20	Mirza International Limited	95.00	3.83%	Hold	91.50	Axis Direct	1x Reco
2017-02-20	PTC India Financial Services..	44.00	7.19%	Buy	41.05	Axis Direct
2017-02-20	Solar Industries India Limited	772.00	7.20%	NEUT.	720.15	Chola Wealth Direct	2x Reco
2017-02-20	Elgi Equipments Limited	228.00	6.15%	Hold	214.80	Karvy	1x Reco
2017-02-20	Mayur Uniquoters Ltd	482.00	30.27%	Hold	370.00	Karvy	1x Reco
2017-02-20	Lakshmi Machine Works Limited	3990.00	8.72%	Hold	3670.00	Karvy	1x Reco
2017-02-20	ABB India Limited	1081.00	9.16%	Sell	1190.00	Karvy
2017-02-20	Suryalakshmi Cotton Mills Li..	193.00	73.02%	Buy	111.55	BOB Capital Markets Ltd.
2017-02-20	Rupa & Company Limited	310.00	7.49%	Buy	288.40	ICICI Securities Limited
2017-02-20	Hindalco Industries Limited	180.00	-0.36%	Hold	180.65	ICICI Securities Limited	1x Reco 1x Reco

The Baseline

27 Feb 2017

Government moves to combine oil companies

The Indian government, as expected, has started the process to merge state oil companies to form a larger oil entity that can bid for global contracts more effectively. The government of India will transfer its majority shareholding (51.11% in HPCL) to ONGC, which will consequently become the holding company of HPCL.

The entry of Reliance Jio and the introduction of super-cheap tariff plans is killing small and mid-size telecom companies, with Telenor India being an early casualty.The company sold off its assets pretty cheaply to Bharti Airtel, giving away spectrum worth Rs. 5,000 crore, and agreeing to service its outstanding debts before the sale. The raw deal for Telenor, despite having 44 million customers and nearly Rs. 5,000 crore in annual revenues - is not a great sign for other small telecom companies.

Stock in spotlight: GMR Infrastructure, which has hit a new 52 week high today on news of it having adopted a strategic debt restructuring plan for its subsidiary GMR Chattisgarh Energy.

Photo of the day: Men and boys with their bodies pierced with lemons, wait to participate in a Shivrathri procession in Chennai. Arun Sankar/AFP/Getty

The Baseline

23 Feb 2017

Jio driving rivals to consolidate

Consolidation has become the game for survival in the telecom industry, and after Vodafone-Idea and Reliance Comm-Aircel, Airtel is next in line,buying Norwegian Telenor's India unit. Bharti Airtel said that it will buy Telenor (India) Communications Pvt Ltd, as part of which it will acquire the Norwegian company's operations in six Indian states. Bharti Airtel reported its lowest profit in four years in the October-December quarter while No. 3 player Idea Cellular posted its first-ever quarterly loss for the same period.

NASA has announced the discovery of seven earth-like planets orbiting a cool dwarf star around 39 light years away from Earth. According to scientists three of the planets are in the 'habitable zone' with the possibility of containing water, breathable atmosphere and life. The planets are much closer to the star compared to our sun, but the star being cooler, would still result in warm but not hot conditions. A cooler star would also result, the scientists said, in a pinker sky, rather than a blue one.

Stock in spotlight: Asian Oilfield Services, which hit a new 52 week high today after landing a $95 million contract in Nigeria.

Photo of the day: Two polar bear cubs accompany their mother outdoors in the Aalborg zoo, Denmark. Scanpix Denmark/Reuters

The Baseline

22 Feb 2017

Reliance stock hits new high on introduction of discounted prices for Jio plans

After months of providing free services, and with Airtel and other competitors accusing the company of predatory pricing, Reliance Jio has finally begun charging subscribers for data. The rates for data are however priced extremely low, with the new tariff plan introduced at Rs. 311 per month effectively, with 1GB/day for consumers. The company's stock surged to a seven year high after the announcement.

In a ruling that builders haven't taken to kindly, the Supreme Court has said that flat owners can join hands to directly approach the National Consumer Disputes Redressal Commission (NCDRC) against realtors, rather than being forced to first go through the district and state dispute resolution commissions against builders. Previously, the rules mandated that the flat in question needed to be worth over one crore, in order to approach the national body directly. However, the SC has said that owners can join hands to bring the cumulative value above one crore, if their flats are individually worth lower.

Stock in spotlight: Bodhtree Consulting, which has received a Rs. 9.41 crore order for the supply of biometric OFAMOS devices to the Medical Council of India.

Photo of the day: A sadhu smears ash on his face ahead of the Shivarathri festival in Kathmandu. Navesh Chitrakar/Reuters

The Baseline

21 Feb 2017

Jio and Uber team up for easier payments

Reliance has announced a partnership with Uber Technologies, where Uber users in India will be able to pay for their fares through Reliance Jio's Jio Money, in addition to the PayTM wallet. The company hopes to challenge PayTM's dominance in digital payments, which till date was the only wallet option available to Uber riders to book a ride.

Glenmark Pharma has received four observeations from the US FDA after an inspection of its Ankleshwar plant in Gujarat. The company said that it has responded to the observations, and expects the identified issues to be resolved quickly.

Stock in spotlight: Voltas, which has zoomed up in profits, on top of improvement in its EBIT margins. The company's operating margin has seen improvement year on year, at 6.25% this December quarter compared to 3.97% in the same quarter the previous year.

Photo of the day: A Lion King sculpture made of lemons and oranges goes on display at the 84th Lemon Festival. Valery Hache/AFP/Getty Images

The Baseline

20 Feb 2017

Questions swirl around Infosys acquisition

Havells India is buying a unit of Lloyd Electric and Engineering, which sells air conditioners and televisions in a 15.5 billion-rupee deal ($231.14 million). The deal is expected to close in eight weeks, and will according to the company help Havells expand its reach into the $15 billion consumer durables market in India.

An anonymous email from an Infosys employee has raised new questions around the governance process followed by Infosys during the acquisition of an israeli company, and former CFO Rajiv Bansal's misgivings on the acquisition. The email alleges conflicts of interest between CEO Sikka and the people involved in the acquisition, which included SIkka's former colleague at SAP, Hasso Plattner, who owned 6% of the acquisition target.

Stock in spotlight: Tata Teleservices, which is seeing high volumes in stock markets today on news that the company is in talks to join the RCom-MTS-Aircel combine.

Photo of the day: Children sit in a window to watch a rally in Sanaa, Yemen. al-Sayaghi/Reuters

The Baseline

19 Feb 2017

Research reports summary and analyst stockpick for the week: February 12-17

Close to 150 stock research reports have landed this week from Axis Direct, ICICI Securities, HDFC Securities and others. Stockpick of the week from analysts is Lupin Limited, which posted strong Q3 results and has the US drug portfolio contributing to revenue growth.

Date	Stock	Target	Upside (%)	Type	CMP	Broker	Change in past 6M
2017-02-17	Cigniti Technologies Limited	421.00	10.05%	Hold	382.55	Axis Direct
2017-02-17	City Union Bank Limited	166.00	10.30%	Buy	150.50	Axis Direct
2017-02-17	Alkem Laboratories Limited	2100.00	5.69%	Buy	1987.00	Axis Direct	1x Reco
2017-02-17	Aurobindo Pharma Limited	800.00	20.36%	Buy	664.70	Axis Direct and 1 other	1x Reco
2017-02-17	IPCA Laboratories Limited	580.00	9.84%	Buy	528.05	Axis Direct and 1 other	1x Reco 2x Reco
2017-02-17	Power Grid Corporation of In..	189.00	-6.64%	Hold	202.45	Axis Direct and 1 other	1x Reco
2017-02-17	Action Construction Equipmen..	84.00	56.28%	Buy	53.75	Axis Direct
2017-02-17	Bank of Baroda	180.00	8.43%	Hold	166.00	Axis Direct and 1 other	1x Reco
2017-02-17	Bharat Petroleum Corporation..	795.00	17.02%	Buy	679.35	Axis Direct and 1 other	2x Reco
2017-02-17	Bayer Cropscience Limited	4050.00	1.05%	Hold	4008.00	Axis Direct
2017-02-17	Tata Power Company Limited	83.00	-1.37%	Hold	84.15	Axis Direct	2x Reco
2017-02-17	State Bank of India	320.00	19.05%	Buy	268.80	Axis Direct and 1 other	2x Reco 1x Reco
2017-02-17	GAIL (India) Limited	505.00	-0.93%	Hold	509.75	Axis Direct and 1 other	1x Reco
2017-02-17	Technocraft Industries (Indi..	466.00	9.52%	Hold	425.50	Axis Direct	1x Reco
2017-02-17	Repco Home Finance Limited	825.00	25.15%	Buy	659.20	Chola Wealth Direct
2017-02-17	Adani Ports and Special Econ..	330.00	10.87%	Buy	297.65	Chola Wealth Direct	1x Reco
2017-02-17	Sun Pharmaceuticals Industri..	736.00	8.96%	Buy	675.45	Chola Wealth Direct and 1 other	3x Reco
2017-02-17	Greaves Cotton Limited	168.00	9.48%	Buy	153.45	Karvy and 1 other
2017-02-17	Talbros Automotive Component..	153.00	16.17%	Buy	131.70	Karvy	1x Reco 1x Reco
2017-02-17	Solar Industries India Limited	800.00	10.50%	Buy	724.00	ICICI Securities Limited	2x Reco
2017-02-17	Shipping Corporation Of Indi..	55.00	13.32%	Sell	63.45	ICICI Securities Limited	1x Reco
2017-02-17	Vedanta (Sesa Sterlite Limit..	245.00	-6.99%	Hold	263.40	ICICI Securities Limited and 1 other
2017-02-17	Sadbhav Engineering Limited	312.00	13.45%	Buy	275.00	ICICI Securities Limited	1x Reco
2017-02-17	Cadila Healthcare Limited	425.00	-5.09%	Hold	447.80	ICICI Securities Limited	1x Reco 1x Reco
2017-02-17	PNC Infratech Limited	125.00	20.19%	Buy	104.00	ICICI Securities Limited	1x Reco
2017-02-16	Britannia Industries Limited	-	-%	Hold	3245.70	Way2Wealth and 1 other	2x Reco 3x Reco
2017-02-16	HeidelbergCement India Limited	126.00	13.82%	Buy	110.70	Chola Wealth Direct	1x Reco
2017-02-16	Atul Limited	2500.00	12.64%	Buy	2219.55	Dynamic Levels
2017-02-16	Motherson Sumi Systems Limited	379.00	8.44%	Hold	349.50	BOB Capital Markets Ltd. and 1 other	1x Reco
2017-02-16	Natco Pharma Limited	-	-%	-	762.35	Nirmal Bang Institutional and 1 other
2017-02-16	Petronet LNG Limited	432.00	7.84%	Hold	400.60	Karvy and 1 other	3x Reco 3x Reco
2017-02-16	IFGL Refractories Limited	221.00	2.74%	Hold	215.10	Karvy	1x Reco
2017-02-16	Minda Corporation Limited	112.00	19.47%	Buy	93.75	Karvy
2017-02-16	The Byke Hospitality Limited	207.00	12.10%	Hold	184.65	Karvy	1x Reco
2017-02-16	Cox & Kings Limited	180.00	-5.21%	Hold	189.90	ICICI Securities Limited
2017-02-16	HEG Limited	180.00	-2.17%	Hold	184.00	ICICI Securities Limited
2017-02-16	Apollo Hospitals Enterprise ..	1440.00	13.39%	Buy	1270.00	ICICI Securities Limited	1x Reco
2017-02-16	Nestle India Limited	7417.00	18.59%	Buy	6254.25	ICICI Securities Limited	1x Reco 2x Reco
2017-02-16	JK Tyre & Industries Limited	145.00	22.11%	Buy	118.75	ICICI Securities Limited	1x Reco
2017-02-16	PTC India Limited	40.00	-53.57%	Hold	86.15	ICICI Securities Limited and 1 other
2017-02-16	Graphite India Limited	100.00	-1.33%	Hold	101.35	ICICI Securities Limited
2017-02-16	Voltas Limited	400.00	15.44%	Buy	346.50	ICICI Securities Limited	1x Reco
2017-02-16	Simplex Infrastructures Limi..	365.00	18.62%	Buy	307.70	ICICI Securities Limited
2017-02-16	Reliance Defence and Enginee..	68.00	14.67%	Buy	59.30	ICICI Securities Limited
2017-02-15	MOIL Limited	445.00	21.82%	Buy	365.30	HDFC Securities	1x Reco 1x Reco
2017-02-15	Suprajit Engineering Limited	247.00	18.75%	Buy	208.00	HDFC Securities	1x Reco
2017-02-15	Talwalkars Better Value Fitn..	-	-%	Buy	216.25	Way2Wealth and 1 other	1x Reco
2017-02-15	Bata India Limited	580.00	16.22%	Buy	499.05	Axis Direct and 1 other	3x Reco 1x Reco
2017-02-15	Cairn India Limited	270.00	-5.92%	Hold	287.00	Axis Direct
2017-02-15	Endurance Technologies Ltd	770.00	17.02%	Buy	658.00	Axis Direct
2017-02-15	Hero MotoCorp Limited	3655.00	18.45%	Buy	3085.65	Axis Direct and 1 other	1x Reco 1x Reco
2017-02-15	Lupin Limited	1600.00	9.75%	Hold	1457.90	Axis Direct and 1 other	3x Reco
2017-02-15	Navkar Corporation Limited	200.00	24.11%	Buy	161.15	Axis Direct
2017-02-15	Page Industries Limited	15700.00	9.79%	Buy	14300.00	Axis Direct
2017-02-15	Sobha Limited	317.00	12.41%	Buy	282.00	Axis Direct
2017-02-15	Thermax Limited	1010.00	18.82%	Buy	850.00	Axis Direct
2017-02-15	CLARIS LIFESCIENCES LTD.	480.00	43.71%	Buy	334.00	Nirmal Bang Institutional
2017-02-15	Muthoot Finance Limited	525.00	51.12%	Buy	347.40	Nirmal Bang Institutional
2017-02-15	Hexaware Technologies Limited	229.00	7.76%	Buy	212.50	Chola Wealth Direct and 1 other	2x Reco
2017-02-15	Sanghvi Movers Limited	253.00	9.00%	Hold	232.10	Karvy and 1 other	1x Reco
2017-02-15	SQS India BFSI Limited	690.00	18.14%	Buy	584.05	Karvy
2017-02-15	Hindustan Petroleum Corporat..	550.00	1.21%	Hold	543.45	ICICI Securities Limited and 1 other	1x Reco
2017-02-15	Vardhman Textiles Limited	1275.00	-2.07%	Hold	1302.00	ICICI Securities Limited	1x Reco 1x Reco
2017-02-15	Entertainment Network (India..	850.00	5.97%	Hold	802.15	ICICI Securities Limited	1x Reco 1x Reco
2017-02-15	NMDC Limited	140.00	2.71%	Hold	136.30	ICICI Securities Limited
2017-02-15	Bharti Airtel Limited	410.00	10.96%	Hold	369.50	ICICI Securities Limited	1x Reco
2017-02-15	Balkrishna Industries Limited	1400.00	21.74%	Buy	1150.00	ICICI Securities Limited and 1 other	1x Reco 1x Reco
2017-02-15	Container Corporation of Ind..	1460.00	18.91%	Buy	1227.80	ICICI Securities Limited and 1 other
2017-02-15	National Buildings Construct..	300.00	71.48%	Hold	174.95	ICICI Securities Limited
2017-02-14	Kalpataru Power Transmission..	376.00	33.57%	Buy	281.50	HDFC Securities and 1 other
2017-02-14	Ramkrishna Forgings Limited	474.00	16.46%	Buy	407.00	HDFC Securities
2017-02-14	AIA Engineering Limited	1571.00	4.38%	Buy	1505.05	HDFC Securities and 1 other	1x Reco
2017-02-14	KNR Constructions Limited	174.00	-3.31%	NEUT.	179.95	HDFC Securities and 1 other	1x Reco
2017-02-14	Suzlon Energy Limited	26.00	52.94%	Hold	17.00	Way2Wealth and 1 other	1x Reco
2017-02-14	GlaxoSmithKline Consumer Hea..	5300.00	3.92%	NEUT.	5100.00	Motilal Oswal and 1 other	1x Reco
2017-02-14	SRF Limited	1825.00	14.55%	Buy	1593.20	Motilal Oswal and 1 other	1x Reco
2017-02-14	Allcargo Logistics Limited	191.00	16.11%	Buy	164.50	Motilal Oswal and 1 other
2017-02-14	Indo Count Industries Limited	205.00	24.77%	Buy	164.30	Motilal Oswal
2017-02-14	Dewan Housing Finance Corpor..	405.00	25.76%	NEUT.	322.05	Motilal Oswal	1x Reco
2017-02-14	Cyient Limited	600.00	28.07%	Buy	468.50	Motilal Oswal	1x Reco 1x Reco
2017-02-14	Tata Motors Limited	511.00	12.88%	ACC.	452.70	Prabhudas Lilladhar	3x Reco 3x Reco
2017-02-14	CRISIL Limited	2109.00	2.11%	ACC.	2065.50	Nirmal Bang Institutional
2017-02-14	Mangalam Cement Limited	294.00	3.89%	ACC.	283.00	Nirmal Bang Institutional and 1 other	1x Reco
2017-02-14	SHAILY ENGINEERING PLASTICS ..	780.00	50.00%	Buy	520.00	Nirmal Bang Institutional
2017-02-14	Infosys Limited	-	-%	Sell	999.70	Nirmal Bang Institutional and 1 other	2x Reco 1x Reco
2017-02-14	Ahluwalia Contracts (India) ..	330.00	10.91%	Buy	297.55	Reliance Securities
2017-02-14	Escorts Limited	435.00	6.62%	Buy	408.00	Chola Wealth Direct
2017-02-14	Indraprastha Gas Limited	1150.00	10.96%	Buy	1036.40	Axis Direct	2x Reco 1x Reco
2017-02-14	NTPC Limited	171.00	0.83%	Hold	169.60	Axis Direct
2017-02-14	Punjab National Bank	135.00	-3.71%	Hold	140.20	Axis Direct
2017-02-14	Siemens Limited	935.00	22.89%	Sell	1212.60	Axis Direct
2017-02-14	Tube Investments of India Li..	736.00	20.28%	Buy	611.90	Axis Direct	1x Reco
2017-02-14	Union Bank of India	-	-%	Sell	141.60	Axis Direct	1x Reco 1x Reco
2017-02-14	PANASONIC ENERGY INDIA COMPA..	340.00	20.57%	Buy	282.00	Axis Direct
2017-02-14	Minda Industries Limited	414.00	10.25%	Buy	375.50	Axis Direct and 1 other	1x Reco
2017-02-14	Astral Poly Technik Limited	421.00	-4.70%	Hold	441.75	Axis Direct
2017-02-14	Gulf Oil Lubricants India Li..	830.00	18.57%	Buy	700.00	Axis Direct	1x Reco
2017-02-14	Jubilant Foodworks Limited	900.00	-9.31%	Hold	992.35	Axis Direct	3x Reco
2017-02-14	The Ramco Cements Limited	648.00	-3.61%	Hold	672.25	Axis Direct	2x Reco
2017-02-14	Tata Steel Limited	447.00	-4.48%	Hold	467.95	Axis Direct	1x Reco 1x Reco
2017-02-14	Carborundum Universal Limited	273.00	4.28%	Hold	261.80	Axis Direct	1x Reco
2017-02-14	Dhanuka Agritech Limited	860.00	13.91%	Buy	755.00	Axis Direct
2017-02-14	Finolex Industries Limited	503.00	-2.75%	Hold	517.20	Axis Direct
2017-02-14	Mahindra Holidays & Resorts ..	484.00	10.00%	Hold	440.00	Karvy	1x Reco
2017-02-14	SKF India Limited	1580.00	7.48%	Hold	1470.00	Karvy	1x Reco 1x Reco
2017-02-14	Mahanagar Gas Limited	1006.00	16.55%	Hold	863.15	Karvy	1x Reco
2017-02-14	Symphony Limited	1530.00	18.38%	Buy	1292.40	ICICI Securities Limited
2017-02-14	Coal India Limited	360.00	13.73%	Buy	316.55	ICICI Securities Limited and 1 other	1x Reco 4x Reco
2017-02-14	Idea Cellular Limited	105.00	-0.94%	Hold	106.00	ICICI Securities Limited
2017-02-14	Eros International Media Lim..	101.00	-%	-	197.40	ICICI Securities Limited
2017-02-14	Reliance Capital Limited	540.00	4.34%	Buy	517.55	ICICI Securities Limited	1x Reco 1x Reco
2017-02-14	VA Tech Wabag Limited	630.00	21.18%	Buy	519.90	ICICI Securities Limited	1x Reco
2017-02-14	Dredging Corporation of Indi..	480.00	6.80%	Hold	449.45	ICICI Securities Limited	1x Reco
2017-02-14	Butterfly Gandhimathi Applia..	165.00	-3.34%	Hold	170.70	ICICI Securities Limited
2017-02-13	Techno Electric & Engineerin..	388.00	5.66%	NEUT.	367.20	HDFC Securities	1x Reco
2017-02-13	Sonata Software Limited	244.00	29.03%	Buy	189.10	HDFC Securities
2017-02-13	Hindustan Zinc Limited	254.00	15.25%	Sell	299.70	HDFC Securities and 1 other	2x Reco
2017-02-13	NCC Limited	100.00	21.36%	Buy	82.40	HDFC Securities and 1 other
2017-02-13	Intellect Design Arena Limited	226.00	101.07%	Buy	112.40	HDFC Securities
2017-02-13	Cosmo Films Limited	-	-%	Hold	360.05	Way2Wealth
2017-02-13	Kalyani Steels Limited	368.00	4.89%	Buy	350.85	BOB Capital Markets Ltd.
2017-02-13	Multi Commodity Exchange of ..	1197.00	6.55%	Buy	1123.45	Axis Direct
2017-02-13	ICRA Limited	4005.00	-1.70%	ACC.	4074.35	Nirmal Bang Institutional
2017-02-13	Triveni Turbine Limited	150.00	22.95%	Buy	122.00	Nirmal Bang Institutional and 1 other	1x Reco
2017-02-13	Steel Authority of India Lim..	43.00	28.21%	Sell	59.90	Reliance Securities and 1 other	1x Reco 1x Reco
2017-02-13	Orient Refractories Limited	161.00	17.91%	ACC.	136.55	CD Equisearch
2017-02-13	Eicher Motors Limited	26826.00	7.13%	Hold	25040.85	Karvy	1x Reco
2017-02-13	Esab India Limited	651.00	13.01%	Hold	576.05	Karvy
2017-02-13	Menon Bearings Limited	84.00	15.07%	Hold	73.00	Karvy	1x Reco
2017-02-13	Mahindra & Mahindra Limited	1454.00	10.42%	Buy	1316.85	LKP Securities
2017-02-13	Sun TV Network Limited	850.00	20.85%	Buy	703.35	ICICI Securities Limited	1x Reco
2017-02-13	CESC Limited	900.00	4.68%	Hold	859.80	ICICI Securities Limited and 1 other	1x Reco 2x Reco
2017-02-13	United Breweries Limited	875.00	10.58%	Buy	791.30	ICICI Securities Limited	1x Reco
2017-02-13	Bosch Limited	25250.00	15.06%	Buy	21945.80	ICICI Securities Limited	1x Reco
2017-02-12	Crompton Greaves Limited	45.00	31.35%	Sell	65.55	Motilal Oswal	1x Reco 2x Reco