Most Market Roundup April 18th,2017

BLACK FOX

EQUITY Market Sensex 29319.10 (-0.32) Nifty 9105.15 (-0.37)

Black Fox Financial Pvt Ltd. Office no - 601, 6th Floor,58 Sahyog Building, Nehru Place, New Delhi, Delhi 110019 61, 6th Floor, Mittal Chambers

228 Nariman Point

Closing Bell: Sensex ends 95 pts lower after gyrating over 400 pts; Nifty50 close at 9,105. Lack of strong market drivers will make the Nifty50 keep moving in a tight consolidation range, but the broader market is likely to see plenty of stock-specific action. European stocks declined as traders caught up with a swathe of geopolitical events following the long weekend. The dollar and gold edged higher and iron ore slumped, hammering commodity producers. The Stoxx Europe 600 Index fell to the lowest level in about three weeks as mining shares plunged, and U.S. equity futures indicated a lower opening. European government bonds mostly rose as the build up to the French election intensified. Iron ore reeled as Citigroup Inc. said it's bearish on the raw material's outlook. The pound fell before U.K. Prime Minister Theresa May delivers a statement in Downing Street. According to data available with BSE, Jhunjhunwala had over 1.24 crore Tata Motors DVR shares, which are 2.44 per cent of the company's total shares as of March quarter. This include stake with the name of Rakesh Jhujhunwala (1.43%) and Rakesh Radheshyam Jhunjhunwala (1.43%). As foreign portfolio investors (FPIs) returned to Dalal Street in a big way after the yearend slowdown, more than 50 per cent of BSE500 companies witnessed a rise in FII holdings. Of around 250 index companies, whose March-end shareholding details are now available, 140 showed a rise in FII holding. Shares of Adani Enterperprises, Marathon Nextgen, Taj GVK Hotels, Kamat Hotels, Sanwaria Agro, Raymond, Peninsula Land, Den Networks, Royal Orchid, Indraprastha Med, Garware Wall, Rane Holdings, Insecticide Ind, DCB BANK, Atlanta Ltd, Kernex Microsys, Venkys (India), Indiabulls Ventures, Madras Fert, Goldstone Infra hit their fresh 52-week high during the trade on NSE. Over the next three years, Macquarie expects a 1.5 times aggregate clean earnings growth from all three OMCs companies driven by further capacity expansions. Shares of Gruh Finance soared nearly 8 per cent in Tuesday’s trade after the company reported nearly 26 per cent rise in net profit for the March quarter on double-digit growth in sales. The NBFC posted a profit of Rs 110.45 crore for the quarter, up 25.76 per cent over Rs 87.82 crore rofit it reported in the year-ago quarter. Crude oil prices were mixed in thin trading on Tuesday after the Easter holiday break shut many markets for as long as four days and a US government report indicated rising production, which may keep a cap on prices after recent gains. Benchmark Brent crude futures were up 5 cents at $55.41 this morning while WTI crude futures were down 1 cent at $52.64 a barrel. Asian stocks pulled back in early trade on Tuesday amid escalating tensions over North Korea. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.15 per cent lower this morning. However, Japan's Nikkei jumped 0.8 per cent, its biggest one-day gain in three weeks, thanks to a weaker yen.

Exchange Toady Pre. Day BSE (CASH) 4297 3259

BSE(Derivative) 169.08 107.02

NSE (Cash) 28019 22311

NSE(Derivativ) 630536 702955

Exchange Today Pev. Day

BSE (Cash) 3480 3740

BSE(Derivative) 0.23 1.03

NSE (Cash) 24585 30617

NSE(Derivative) 272282 865138

Total 300348 899497

Group NIFTY IND BSE INDEX

Advance 13 59

Decline 38 141

Unchanged 00 1

Symbol LTP % Change AUROPHARMA 664.90 +1.85

NTPC 161.65 +1.48

IOC 430.10 +1.33

HINDALCO 183.80 +1.30

BANKBARODA 177.10 +0.65

Symbol LTP % Change TATASTEEL 448.50 -3.01

INFRATEL 334.75 -2.79

AMBUJACEM 240.05 -2.75

EICHERMOT 25469.95 -2.51

COALINDIA 279.20 -2.31

Exchange No. of Contracts

Turn Over Index Futures 284324 21480

Stock Futures 800761 63839 Index Options 6297086 494719

Stock Options 624521 50498 F&O Total 8006692 630536

CASH VOLUME (Rs In Cr.)

ADVANCED / DECLINE

TOP INDEX GAINERS

TOP INDEX LOSERS

DERIVATIVE VOLUME In Cr.

Stock future Price Rs. Vol OI Contract

ADANIENT 144.2 34623 2998 ICICIBANK 283.2 25474 29063 RELINFRA 556.2 22490 8977

IRB 248.1 22488 8039

ACTIVE STOCK IN FUTURE

Most Market Roundup April 18th,2017

BLACK FOX

EQUITY Market Sensex 29319.10 (-0.32) Nifty 9105.15 (-0.37)

Black Fox Financial Pvt Ltd. Office no - 601, 6th Floor,58 Sahyog Building, Nehru Place, New Delhi, Delhi 110019 61, 6th Floor, Mittal Chambers

228 Nariman Point

News: Future Retail Ltd, India’s biggest department store chain that gained

from the government’s surprise demonetisation move, still has room to extend the rally that’s more than doubled its market value this year.

Mumbai-based construction company Capacit’e Infraprojects Ltd on Monday filed its draft prospectus with the market regulator for an initial public offering (IPO) to raise up to Rs400 crore. The company will use the proceeds for working capital requirements, purchase of capital assets and general corporate purposes.

Nissan Motor Co. plans to work with “government bodies” and “private sector firms” to see if there is a market for its electric car Leaf in India, a top executive at the Indian unit of the Japanese auto maker said.

State-run SAILBSE -1.87 % has so far spent a total of Rs 64,562 crore on modernisation and expansion programmes, which also includes Rs 2,324 crore investment in first nine months of the last fiscal. "Cumulative expenditure (by SAIL) for various modernisation and expansion packages till December 2016 has been Rs 64,562 crore, including expenditure of Rs 2,324 crore during the financial year 2016-17 till December 2016,".

Technology company Vakrangee Ltd. rose more than 3.2 percent to Rs 374 after its board of directors approved a proposal to provide Goods and Service Tax (GST) related services, as companies get ready to be compliant with the new law which could come into effect from July 1.

Shares of Indiabulls Real Estate Ltd. jumped 42.5 percent, the most in a decade, after the company’s board said it is considering separation of its residential and, commercial and leasing businesses in a move that may help it unlock value.

The pound erased a decline against the dollar after U.K. Prime Minister Theresa May announced that she plans to hold early general elections on June 8.

Sterling had fallen as much as 0.4 percent before the announcement, which was made in a previously unscheduled statement in Downing Street. The British currency remains about 15 percent weaker against the greenback since the nation voted to leave the European Union in a June referendum.

The Mukesh Ambani-owned company reached a valuation of Rs 4,57,136 crore at 10:20 a.m., ahead of Tata Consultancy Services Ltd., which led the market capitalisation rankings for nearly four years.

Citigroup Inc. joined Goldman Sachs Group Inc. in backing commodities, saying it’s the season to have faith in raw materials and oil will probably rally to the mid-$60s by the end of the year.

The rupee has declined in each of the last seven April-June quarters, with its performance often marred by a periodic increase in India’s gold demand. This time, rising Brent crude prices are also seen weighing down the currency. Asia’s third-largest economy is the world’s second-biggest buyer of the precious metal and relies on imports for about three quarters of its oil needs.

Steel mills in India are set to churn out metal at a rapid pace over the next decade and a half with output forecast to more than double bolstered by a growing economy and increasing urbanization, according to the Indian Steel Association. Shares of producers rose in Mumbai.

Indices Closing Price Change(%)

Dow 30 20636.92

+0.90

Nasdaq 5856.79 +0.89

FTSE 100 7197.25 -1.80

DAX 12036.00 -0.60

S&P/TSX 15684.89 +0.96

CAC 40 5009.80 -1.22

Nikkei 225 18418.59 +0.34

Shanghai 3196.60 -0.79

Hang Seng 23924.54 -1.39

V/S INR Closing Price Change(%)

Dollar 64.63 +0.18

Euro 69.03 +0.64

Pound 81.90 +1.15

JPY 0.59 +0.00

Aus 48.79 -0.31

Indices Closing Price Change(%)

Crude OIL 52.29 -0.70

Gold 1286.50 -0.42

Silver 18.400 -0.62

Aluminium 1929.25 +0.80

Copper 2.556 -1.54

GLOBAL COMMODITY

GLOBAL INDICES

GLOBAL CURRENCIES

Indices Closing Price Change(%)

Crude OIL 3378.00 -0.62

Gold 29690.00 -0.24

Silver 42335.00 -0.38

Aluminium 124.05 -0.16

Copper 365.20 -1.16

Indices Closing Price Change(%)

Sensex 29319.10 -0.32

Nifty 50 9105.15 -0.37

Nifty Next 50 25539.05 -1.06

Nifty Mid 50 4416.25 -0.37

Indices Today Closing Previous Clo

FII -930.67 -250.54

DII +878.08 52.38

Note - *Data as of today, 5 P.M

DOMESTIC COMMODITY

DOMESTIC INDICES

INSTITUTIONAL ACTIVITY

Most Market Roundup April 18th,2017

BLACK FOX

EQUITY Market Sensex 29319.10 (-0.32) Nifty 9105.15 (-0.37)

Black Fox Financial Pvt Ltd. Office no - 601, 6th Floor,58 Sahyog Building, Nehru Place, New Delhi, Delhi 110019 61, 6th Floor, Mittal Chambers

228 Nariman Point

Stocks To Watch:

Watch for Tata Consultancy Services, Mphasis, Infosys, Wipro, HCL Technologies, Tech Mahindra: Trump seeks shift in visa allotments crucial to tech outsourcing

APL Apollo: Introduces corrosion proof galvanized steel pipes for Coastal Regions

Berger Paints: Says unit signs pact with NBCC on energy performance

Claris Lifesciences : Baxter Pharma’s proposal

to acquire Claris Injectables approved by FIPB

Fortis Healthcare: Standard Chartered sold 7.3m shares of co. at BSE & 2.8m shares at NSE

Gruh Finance: Q4 profit Rs 110 crore versus Rs 87.82 crore YoY

IndusInd Bank: Launches portal for foreign exchange services- IndusForex.com

National Fertilizers: Received LOI from SDSC-SHAR for N204 production plant

Tata Power: Puts Mundra expansion plan on hold for lack of demand

Tata Steel: To consider fund raising proposal April 20

Vadilal Industries: Says petition filed against co. at NCLT to be hear on May 29

Talking Points

India hopes to double revenue receipts by end-2019, says Nitin Gadkari India seeks legal advisers for divestment of stake in 7 firms. FIPB approves four FDI proposals worth 40.2b rupees: Official RHC says Daiichi pleas in Delhi court obstructing fund- raising Biggest Indian store chain gains steam as Biyani rides cash ban Lufthansa says starting local airline in India a misadventure Muthoot Capital to consider free shares issue to shareholders India top court agrees to hear plea to curb pesticide use Global funds sell Rs 251 crore of local stocks; domestic funds sell Rs

52.38 crore yesterday: Provisional data India sets rules to push struggling banks to combine with rivals India seeks to end imports in five years March trade deficit widens to $10.44 billion versus estimate of -$8.37

billion Exports up 27.6 percent YoY at $29.2 billion, imports up 45.3 percent at

$39.7 billion India, France agree to collaborate on high-speed rail Court’s power order ends doubt over coal-cost compensation India extends time for duty-free benefits for raw sugar import February services exports at $13.1 billion, imports at $7.24 billion: RBI North Korea missile failure deflates tension as Pence tours Asia Global funds sold net Rs 408 crore of local stocks Thursday; domestic

funds bought worth Rs 65.43 crore: provisional data Barclay brothers bid for GROSVENOR House hotel (Sunday Times) India to replace old power plants to boost output (PTI) India sees relations with Pakistan hit if Jadhav sentence upheld India may put visa curbs on Pakistan citizens (Times Now) Security was tightened at three Indian airports Sunday (CISF) India to offer six coking coal blocks for captive use: Goyal. India court

asks Central Electricity Regulatory Commission to determine power tariff compensation. Indian inflation rises less than expected on food -- India March consumer prices rise 3.81 percent year-on-year; estimate: 3.94 percent

India February Industrial Production falls 1.2 percent year-on-year; estimate: +1.3 percent

Trump says China not FX manipulator, sees dollar too strong Government panel suggests fiscal deficit of 3 percent in fiscal 2018-20 Indian stock optimism is all hype to Goldman Sachs’s Rajiv Jain India cabinet approves plan to list 11 state-run companies India gold imports said to jump 582 percent on festival, wedding

demand State oil companies said to test daily fuel price change in May Reserve Bank of India announces draft guidelines of simplified hedging

facility India gets record low bid to build solar power, minister says Prime Minister Narendra Modi’s record infrastructure spending seen

boosting loan volumes. RBI announces draft rules on introduction of tri-party repo.

Most Market Roundup April 18th,2017

BLACK FOX

EQUITY Market Sensex 29319.10 (-0.32) Nifty 9105.15 (-0.37)

Black Fox Financial Pvt Ltd. Office no - 601, 6th Floor,58 Sahyog Building, Nehru Place, New Delhi, Delhi 110019 61, 6th Floor, Mittal Chambers

228 Nariman Point

Page

INDEX

CLOSE POINT CHANGE %CHANGE

NIFTY BANK 21671.85 +24.25 +0.11

NIFTY IT 9981.55 -19.35 -0.19

NIFTY REALTY 237.95 -8.35 -3.39

NIFTY INFRA 3152.90 -7.15 -0.23

NIFTY ENERGY 12031.40 -76.45 -0.63

NIFTY FMCG 23382.95 -76.95 -0.33

NIFTY MNC 10832.65 -68.15 -0.63

NIFTY PHARMA 10355.80 -92.75 -0.89

NIFTY PSE 4138.30 -13.70 -0.33

NIFTY PSU BANK NIFTY SERV SECTOR NIFTY MEDIA NIFTY METAL NIFTY AUTO

3531.65

11706.75

3142.55

2901.25

9813.70

-0.50

-8.90

-15.50

-52.10

-75.75

-0.01

-0.08

-0.49

-1.76

-0.77

Most Market Roundup April 18th,2017

BLACK FOX

EQUITY Market Sensex 29319.10 (-0.32) Nifty 9105.15 (-0.37)

Black Fox Financial Pvt Ltd. Office no - 601, 6th Floor,58 Sahyog Building, Nehru Place, New Delhi, Delhi 110019 61, 6th Floor, Mittal Chambers

228 Nariman Point

BSE CLOSING BELL NSE CLOSING BELL

Most Market Roundup April 18th,2017

BLACK FOX

EQUITY Market Sensex 29319.10 (-0.32) Nifty 9105.15 (-0.37)

Black Fox Financial Pvt Ltd. Office no - 601, 6th Floor,58 Sahyog Building, Nehru Place, New Delhi, Delhi 110019 61, 6th Floor, Mittal Chambers

228 Nariman Point

VSTIND - VST Industries Limited has informed the Exchange that the Board of Directors at their meeting held on April 18, 2017 has recommended dividend for the year 2016-17 Rs 75/- (2015-16- Rs 70/-) per Equity Share of Rs 10 each. The payment is subject to approval of the shareholders at the ensuing Annual General Meeting of the Company. MEGH – Meghmani Organics Limited has informed the Exchange the Meghmani Finechem Limited (MFL), subsidiary of Meghmani Organics Limited Plans To Set Up Hydrogen Peroxide Project and Expansion of Caustic Chlorine & Captive Power Plant Capacity at GIDC Dahej ". UFLEX - UFLEX Limited has informed the Exchange regarding a press release dated April 18, 2017, titled "Flex Films to set the trend for the Art and Science of Converting at INTERPACK 2017". NOTICE AND CIRCULAR :

Notice No Subject Segment Name

Category Name Department PDF

20170418-11

Listing of Units Of HDFC FMP 1172D April 2017 (1) Series 38, a Scheme under HDFC Mutual Fund

Mutual Fund

Company related

DCS-Listing

20170418-10

Listing of Units of IIFCL Mutual Fund Infrastructure Debt Fund - Series II

Mutual Fund

Company related

DCS-Listing

20170418-9 Opening of Offer to Buy – Acquisition Window (Takeover) for Shiva Cement Limited

Equity Trading DCS-Listing

20170418-8 Opening of Offer to Buy – Acquisition Window (Takeover) for Indo Gulf Industries Limited

Equity Trading DCS-Listing

20170418-7 Admission of Member in Cash Segment General Others Membership Compliance

20170418-6 Admission of Member in Cash & Equity Derivative Segments

General Others Membership Compliance

20170418-5 Demat Auction - 010 General Settlement/RMS Post Trade

20170418-4 Timelines for closure of financial accounts under Rule 114H(8) of the Income Tax Rules, 1962 under alternative procedure of FATCA

General Compliance DOSS

20170418-3 Maturity of Mutual Fund Schemes of Reliance Mutual Fund.

Mutual Fund

Corporate Actions

Listing Operations

20170418-2 Change in certain scheme name of Idfc Mutual fund on BSE StAR MF Platform

Mutual Fund

Trading Trading Operations

20170418-1 Extension of NFO - Edelweiss Fixed Maturity Plan-Series 42

Mutual Fund

Trading Trading Operations

Corporate Action Calendar

Most Market Roundup April 18th,2017

BLACK FOX

EQUITY Market Sensex 29319.10 (-0.32) Nifty 9105.15 (-0.37)

Black Fox Financial Pvt Ltd. Office no - 601, 6th Floor,58 Sahyog Building, Nehru Place, New Delhi, Delhi 110019 61, 6th Floor, Mittal Chambers

228 Nariman Point

Deal Date Security

Code Security Name Client Name Deal Type

* Quantity Price

** 17/04/2017 538713 ATISHAY MANGAL SAVITRI BIZCON PRIVATE LIMITED B 200,000 78

17/04/2017 538713 ATISHAY GAURAV JAIN B 75,000 78

17/04/2017 538713 ATISHAY RAJ MALA FINLEASE (P) LTD S 243,200 78

17/04/2017 538713 ATISHAY PRATEEK JAIN B 165,000 78

17/04/2017 538713 ATISHAY INDU JAIN B 76,000 78

17/04/2017 538713 ATISHAY HEM SHARE BROKERS LTD S 143,500 78

17/04/2017 538713 ATISHAY HEM INSURANCE BROKERS LIMITED S 189,000 78

17/04/2017 532330 BIOPAC VINODKUMAR TRIPATHI S 145,433 29

17/04/2017 539546 BNL SREE GOPAL BAJORIA B 49,950 14.05

17/04/2017 539546 BNL M/S SAMARATH COMMODITY FUTUIRES (P) LT S 57,000 14.06

17/04/2017 536965 BPCAP RITURAJ SHARES AND SECURITITES LTD. B 20,000 21.44

17/04/2017 501150 CENTRUM ISHBHOOMI FABTRADERS PRIVATE LIMITED S 9,900,000 40.8

17/04/2017 540455 ESCORP BCB BROKERAGE PRIVATE LIMITED B 80,000 15.08

17/04/2017 533213 FRONTSEC RAKESH KUMAR JAIN B 150,000 53

17/04/2017 533213 FRONTSEC RAKESH GOVIL S 40,000 53.01

17/04/2017 533213 FRONTSEC VIVEK JAIN S 50,000 53

17/04/2017 533213 FRONTSEC HIMANI JAIN S 45,000 53

17/04/2017 500153 GANESHBE DINESH PARASRAM THAPAR S 452,718 48

17/04/2017 530771 KLGCAP BHAVANEESH ATHIKARY B 17,500 16.25

17/04/2017 530771 KLGCAP RELIGARE FINVEST LIMITED S 17,500 16.25

17/04/2017 539446 KRISHFAB ROSHAN KUMAR ARUN MANDAL B 119,000 10.2

17/04/2017 539446 KRISHFAB SAMRAS ORGANISERS S 97,251 10.2

BLOCK DEAL

Most Market Roundup April 18th,2017

BLACK FOX

EQUITY Market Sensex 29319.10 (-0.32) Nifty 9105.15 (-0.37)

Black Fox Financial Pvt Ltd. Office no - 601, 6th Floor,58 Sahyog Building, Nehru Place, New Delhi, Delhi 110019 61, 6th Floor, Mittal Chambers

228 Nariman Point

17/04/2017 539446 KRISHFAB PRADIP SHUDHAKARBHAI BIREWAR S 19,304 10.2

17/04/2017 532997 KSK IFCI LTD. S 3,000,000 9.35

17/04/2017 539125 LAYLA VIJAYA PARSHARAM SALVI S 167,325 50.05

17/04/2017 539125 LAYLA SAIRABANU MOHD RAFIQ FANASWALA S 152,585 49.97

17/04/2017 523248 MACPLASQ SAUMIL ARVINDBHAI BHAVNAGARI S 90,255 322.05

17/04/2017 523248 MACPLASQ SAUMIL ARVINDBHAI BHAVNAGARI B 90,255 315.21

17/04/2017 523248 MACPLASQ JAYNEEL SECURITIES PRIVATE LIMITED B 50,000 322.05

17/04/2017 531212 NALINLEA PALLAVIBEN DILIPKUMAR GANDHI B 45,177 12.43

17/04/2017 531212 NALINLEA BHAVESHKUMAR GANPATBHAI PATEL S 52,900 12.49

17/04/2017 531212 NALINLEA TARUNKUMAR JAYANTIBHAI PRAJAPATI S 59,400 11.4

17/04/2017 531212 NALINLEA KALPESHKUMAR MAGANBHAI PRAJAPATI S 51,400 11.4

17/04/2017 531212 NALINLEA JAYSHRI S MEHTA B 23,721 11.86

17/04/2017 531212 NALINLEA SANJAY H SARAWAGI B 50,000 11.4

17/04/2017 517536 ONWARDTEC ONWARD NETWORK TECHNOLOGIES PRIVATE LIMITED

S 575,000 87.66

17/04/2017 506128 PARNAXLAB NIKHIL VORA B 50,000 64.95

17/04/2017 540404 PRIME PATEL JAYANTIBHAI KANTILAL S 32,000 65.64

17/04/2017 540404 PRIME ARYAMAN BROKING LIMITED S 36,000 65.49

17/04/2017 540404 PRIME OVERSKUD MULTI ASSET MANAGEMENT PRIVATE LIMITED

S 24,000 65.07

17/04/2017 538647 PURSHOTTAM UNIFOUR GARMENTS LLP S 50,000 16.13

17/04/2017 538647 PURSHOTTAM YOUTHVISION COMMODITIES PRIVATE LIMITED S 50,000 16.13

17/04/2017 538647 PURSHOTTAM VENERA PROPERTY PRIVATE LIMITED S 100,001 16.13

17/04/2017 538647 PURSHOTTAM SPRINGTIME ENGINEERING PRIVATE LIMITED S 100,000 16.13

17/04/2017 538647 PURSHOTTAM REALSTEP AGENCIES PVT LTD S 99,999 16.13

17/04/2017 538647 PURSHOTTAM CHARAMSUKH IT MARKETING PVT LTD S 100,001 16.13

17/04/2017 538647 PURSHOTTAM CHARAMSUKH IT MARKETING PVT LTD B 1 16.13

17/04/2017 538647 PURSHOTTAM SHREYANS LOGISTICS PRIVATE LIMITED B 500,000 16.13

17/04/2017 538540 RLFL MAARS INFRATECH PRIVATE LIMITED S 642,026 1.07

17/04/2017 538540 RLFL D P VORA SECURITIES PRIVATE LIMITED B 500,000 1.07

17/04/2017 532323 SHIVACEM RAJASTHAN GLOBAL SECURITIES PRIVATE LIMITED S 1,313,133 23.25

17/04/2017 526365 SWARNSAR JAGDISHCHANDRA JAJOO B 107,000 22.25

Most Market Roundup April 18th,2017

BLACK FOX

EQUITY Market Sensex 29319.10 (-0.32) Nifty 9105.15 (-0.37)

Black Fox Financial Pvt Ltd. Office no - 601, 6th Floor,58 Sahyog Building, Nehru Place, New Delhi, Delhi 110019 61, 6th Floor, Mittal Chambers

228 Nariman Point

17/04/2017 531547 TIRIN NEIL KETAN KARANI S 52,000 22.95

17/04/2017 509038 VOLLF NEERAJ TRADING CORPORATION S 24,995 32.65

17/04/2017 509038 VOLLF GOLDENSIGHTCOMMOTRADE PVT LTD B 25,000 32.65

17/04/2017 530697 ZENLABS GUTTIKONDA VARA LAKSHMI B 50,000 50.2

Most Market Roundup April 18th,2017

BLACK FOX

EQUITY Market Sensex 29319.10 (-0.32) Nifty 9105.15 (-0.37)

Black Fox Financial Pvt Ltd. Office no - 601, 6th Floor,58 Sahyog Building, Nehru Place, New Delhi, Delhi 110019 61, 6th Floor, Mittal Chambers

228 Nariman Point

Disclosures This document has been prepared by Black Fox Financial Pvt Ltd... to provide information about the company(ies) and/sector(s), if any, covered in the report and may be distributed by it and/or its affiliated company(ies). This report is for personal information of the selected recipient/s and does not construe to be any investment, legal or taxation advice to you. This research report does not constitute an offer, invitation or inducement to invest in securities or other investments and Black Fox Financial Pvt Ltd is not soliciting any action based upon it. This report is not for public distribution and has been furnished to you solely for your general information and should not be reproduced or redistributed to any other person in any form. This report does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Before acting on any advice or recommendation in this material, investors should consider whether it is suitable for their particular circumstances and, if necessary, seek professional advice. The price and value of the investments referred to in this material and the income from them may go down as well as up, and investors may realize losses on any investments. Past performance is not a guide for future performance, future returns are not guaranteed and a loss of original capital may occur. Reports based on technical and derivative analysis center on studying charts company's price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamental analysis. This report is intended for distribution to institutional investors. Recipients who are not institutional investors should seek advice of their independent financial advisor prior to taking any investment decision based on this report or for any necessary explanation of its contents. Most and it’s associates may have managed or co-managed public offering of securities, may have received compensation for investment banking or merchant banking or brokerage services, may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Most and it’s associates have not received any compensation or other benefits from the subject company or third party in connection with the research report. Subject Company may have been a client of Most or its associates during twelve months preceding the date of distribution of the research report MOSt and/or its affiliates and/or employees may have interests/positions, financial or otherwise of over 1 % at the end of the month immediately preceding the date of publication of the research in the securities mentioned in this report. To enhance transparency, MOSt has incorporated a Disclosure of Interest Statement in this document. This should, however, not be treated as endorsement of the views expressed in the report.

There are no material disciplinary action that been taken by any regulatory authority impacting equity

research analysis activities

Analyst Certification The views expressed in this research report accurately reflect the personal views of the analyst(s) about the subject securities or issues, and no part of the compensation of the research analyst(s) was, is, or will be directly or indirectly related to the specific recommendations and views expressed by research analyst(s) in this report. The research analysts, strategists, or research associates principally responsible for preparation of MOSt research receive compensation based upon various factors, including quality of research, investor client feedback, stock picking, competitive factors and firm revenues

Disclosure of Interest Statement Analyst ownership of the stock No Served as an officer, director or employee No