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2nd Jan 2014

MARKET DIARY
SGX NIFTY : 6343 (
3pts Down )

Quote of The Day
"Stop trying to predict the direction of
the stock market, the economy or
elections." - Warren Buffett

MARKET
Name

Value

Change

Sensex
Nifty
DOW
NASDAQ
CAC

21140.48
6301.65
Closed
Closed
Closed

DAX
FTSE
NIKKIE
HANG SENG

Closed
Closed
Closed
23211.44

(94.84)

10013.35

(166.24)

Chart of the Day
Indian Equities Institution Trend

EW ALL SHARE

(30.20)
(2.35)

INSTITUTIONAL TURNOVER
FII
Investor

Sale(Cr.)

Net(Cr.)

225.12

214.96

10.16

Jan,14
2014

Index Action-Nifty (1th Jan, 14)

Buy(Cr.)

1th Jan, 14

225.12
225.12

214.96
214.96

10.16
10.16

DII
Investor

Buy(Cr.)

Sale(Cr.)

Net(Cr.)

1th Jan, 14

359.22

581.34

(222.12)

Jan,14
2014

359.22
359.22

581.34
581.34

(222.12)
(222.12)

COMMODITY PRICE

Index
Contents
Economic calendar

Page
4

Coverage
UPDATE

News

3

UPDATE

Derivative Research

2

UPDATE
UPDATE

COMMODITY/CURRENCIES
GOLD
SILVER
CRUDEOIL

Value
28409.00
43889.00
111.65

↓
↑
↑

COPPER
NATURALGAS

468.60
264.20

↑
↓

DOLLAR/RS.
EURO/RS.
POUND/RS.

61.90
85.17
102.63

↑
↑
↑

Narnolia Securities Ltd.
124, 1st floor 7/1, Lords Sinha Road Kolkata -700071. Ph 033-22821500/01/02/03/04 Mob : 9830013196
email: research@narnolia.com, website : www.narnolia.com

1
Derivative Research
NIFTY SNAPSHOT
Nifty Spot
Nifty Jan 2014 Future

6301.65(-2.35)
6360

Nifty Feb 2014 Future
Nifty Jan 2014 Open Interest

6401
19806250

Nifty Feb 2014 Open Interest
7 DMA of Spot Nifty

1158500
6291

21 DMA of Spot NIfty
50 DMA of Spot Nifty

6250
6192

VOLATILITY INDEX (VIX)
PUT CALL RATIO

GRAPH

15.58(+0.46)
0.92

Nifty (Jan Series) Option OI Distribution:

Index Outlook

Activity of Nifty (Jan Series) Strike
CALL
OI
% Chng
6000
784350
-0.7
6100
882900
0.5
6200
1090050
1.4
6300
2518400
3.1
6400
3726850
5.2
6500
4628650
5.0
Fresh Long Seen In (Rising OI -Rising Price)
Scrip
OI
OI ch%
DISHTV
16,896,000
30.9
CENTURYTEX
5,415,000
14.0
TATACOMM
7,048,000
12.7
IDEA
9,698,000
12.4
ARVIND
7,212,000
11.5
PCR (OI)
STOCK
T1
IOB
0.90
MRF
0.25
FEDERALBNK
0.20
MCDOWELL-N
0.48
BANKINDIA
0.56

FIIs Activity (Fig in Cr)
Segment

PUT
OI

Buy

Sell

Net

% Chng
2899100
3016000
3727700
4079000
1377650
701850
CMP
60.8
313.9
309.5
168.1
138.7
T2
0.25
0.17
0.14
0.36
0.44

3.3
0.1
4.4
6.9
2.3
2.4
Ch%
0.2
0.1
0.1
0.7
1.5

INDEX FUTURE
INDEX OPTION
STOCK FUTURE
STOCK OPTION
TOTAL

669
3,467
1,038
379
5,553

655
3,460
1,255
375
5,746

Fresh Shorts Seen In: (Rising OI -Falling Price)
Scrip
OI
OI ch%
CMP
PFC
5,802,000
13.9
166.3
CESC
873,000
13.4
464.6
RECLTD
2,520,000
11.9
219.1
APOLLOTYRE
39,616,000
7.1
104.9
PTC
2,776,000
6.8
65.5
YESTERDAY'S IMPACT TRADE
STOCK
STRIKE CE
STOCK
RCOM
140 CE
RELIANCE
SBIN
1800 CE
RCOM
RELIANCE
900 CE
SBIN
DLF
180 CE
INFY
MCDOWELL-N
2600 CE
MCDOWELL-N

14
7
(218)
4
(193)

Ch%
-0.4
-0.3
-0.7
-2.1
-1.0
STRIKE PE
880 PE
130 PE
1700 PE
3500 PE
2500 PE
Markets Snapshot
Top Price Performers
Top Performers

Top Performers 1D

% Change

Top Performers 1W

% Change

UBHOLDINGS

19.94

SIGRUN

50.00

1M
DQE

% Change

OMAXAUTO

19.88

UBHOLDINGS

46.85

MLKFOOD

109.16

ASSAMCO
RAMANEWS

19.05
18.60

MAVENSBIO
GTL

42.03
41.10

SVCRES
RICOAUTO

96.75
92.98

DBREALTY

16.89

KAVVERITEL

40.51

MCDHOLDING

81.40

113.59

Worst Price Performers
Worst Performers
1D

% Change

Worst Performers
1W

% Change

Worst Performers
1M

% Change

GLOBALCA

(19.96)

GLOBALCA

(32.00)

STAR

(63.43)

JAIBALAJI

(9.81)

INDINFO

(14.75)

KINETICENG

(40.38)

TANEJAERO

(8.36)

BIHARSPONG

(14.75)

GLOBALCA

(36.50)

SINCLAIR

(7.88)

SCANPGEOM

(14.41)

TFL

(35.96)

EICLLTD

(6.92)

SOUISPAT

(14.33)

ZENITHINFO

(34.13)

Top News :
• Talwalkars Mgt Guideline : The company will achieve 30 percent bottomline in FY15. Company hopes on its various value added services like
Reduce (diet plans), Zumba (fitness dance), Nuform . Comapny is aiming at providing Zumba in 100 more gyms. Mgt further adds that fee hikes
are likely post April 1, 2014.
• Atul Auto Mgt Guideline : The company is likely to sustain the 18.5 percent growth rate for FY14 and expects the momentum to continue
going ahead. The company is likely to introduce 350 KG capacity gasoline three-wheeler in 2014 which can be used with alternate fuel options
as well like CNG, LPG and with that hopes to cater urban as well as export market.
• Ashoka Buildcon has received Letters of Acceptance (LoAs) for the Projects viz. Execution of Distribution strengthening works under Restructured Accelerated Power Development and Reforms Programme (R-APDRP) Part-B Scheme on total turnkey basis aggregating Rs 596.28cr
from TANGEDCO.
• Lakshmi Vilas Bank board will consider rights issue on Friday.A meeting of the board of directors of the bank will be held on January 03, to
consider and if thought fit, to approve the proposal for further issue of equity shares on rights basis, to existing shareholders of the bank .
• M&M Dec 2013 Auto sales : -12.6 % ( YoY ) , 0.9 % ( MoM ) . Maruti Dec 2013 Auto sales : -4.4 % ( YoY ) , -1.3 % ( MoM ) . Atul Auto Dec
2013 Auto sales : +23.4 % ( YoY ) ( 3510 in Dec 2013 Vs 2844 in Dec 2012 ).
• U.S. Food and Drug Administration gave a tentative approval to Lupin for generic version of cholesterol drug niacin, a form of vitamin B .
• RBI revises norms on gold dore imports by bullion refineries RBI says -Quantum of gold dore to be imported should be determined lot-wise
on the basis of export performance -Before next import, not more than 80 percent shall be allowed to be sold domestically -Dore so imported
shall be refined and released based on first-in-first-out basis following 20:80 principle
• Government -November eight core industries growth at 1.7 percent versus 5.8 percent (YoY) -April-November eight core industries growth
at 2.5 percent versus 6.7 percent (YoY) -Nov CPI Industrial Workers Infln At 11.47% Vs 11.06% (MoM) -Nov CPI-IW Food Inflation At 16.17% Vs
15.02% (MoM)
• China's Purchasing Managers' Index (PMI) dipping to 51.0 . Economists had expected the official PMI, published by the National Bureau of
Statistics, to ease to 51.2 from November's 51.4.
• Delhi distribution companies (Discoms) are out of the Comptroller and Auditor General of India (CAG) ambit: Sources Alert: CAG audits only
government owned companies Alert: Delhi Discom 51:49 JV between private companies and government ( Tata Power , Reliance Power in
focus) -Accounts regularly audited by CAG empanelled auditors -85 percent of expenses are indirectly under CAG domain - PIL pending in Delhi
High Court since February 2011 -Matter is currently sub-judice in Delhi High Court .
Economic Calendar
Monday
30-Dec

Tuesday
31-Dec

US

S&P/CS Composite-20 HPI y/y ,
Pending Home Sales m/m .

Chicago PMI

UK/EURO
ZONE

Housing Equity Withdrawal q/q

Wednesday
1-Jan

Thursday
2-Jan

Retail PMI

Friday
3-Jan

Unemployment Claims , Final Manufacturing
Crude Oil Inventories , Total Vehicle Sales
PMI , ISM Manufacturing PMI , Construction
, Natural Gas Storage .
Spending m/m .

Spanish Manufacturing PMI , Italian
Manufacturing PMI , Manufacturing PMI .

INDIA

Auto sales no .HSBC manufacturing PMI data

Auto sales no .

Spanish Unemployment Change , M3
Money Supply y/y , Private Loans y/y ,
Construction PMI , BOE Credit Conditions
Survey , Net Lending to Individuals m/m .

HSBC India Services PMI , HSBC India
Composite PMI.

Result Calendar Q3FY14
BSE Code

Company Name

Date

BSE Code

Company Name

Date

532131
514358
536709
502700
532857
507488
521248
532187
500209
506894
509567
507984
517326
500086
520066
500266
532978
500034
532977
500490

Triumph Intl
Everlon Syn
VAK POW INF
Arunoday Mills
Glory Polyfilms
GM Breweries
Kitex Garments
Indusind Bank
Infosys
Chemfab Alk
Goa Carbon-$
SER Inds
CMC
Exide Inds
Jay Bharat Marut
Maharashtra Scoot
Bajaj Finserv
BAJFINANCE
Bajaj Auto
Bajaj Holdings

3-Jan-14
4-Jan-14
4-Jan-14
7-Jan-14
7-Jan-14
7-Jan-14
9-Jan-14
10-Jan-14
10-Jan-14
11-Jan-14
11-Jan-14
11-Jan-14
13-Jan-14
13-Jan-14
13-Jan-14
14-Jan-14
15-Jan-14
15-Jan-14
16-Jan-14
16-Jan-14

500490
511288
532894
531841
532218
500180
500820
500411
533573
500010
531049
532652
533179
507598
505250
500165
500414
524038
522261
521038

Bajaj Holdings
Gruh Finance
Indowind Ener
Indus Finance Corp
South Indian Bank
HDFC Bank
Asian Paints
Thermax
Alembic Pharma
HDFC
Neelkanth Rock
Karnataka Bank
Persistent Sys
KLRF
GG Dandekar
Kansai Nerolac
Timex Group-$
Venlon Enter
Dolphin Offsh-$
Tamilnadu Jai

16-Jan-14
16-Jan-14
16-Jan-14
16-Jan-14
16-Jan-14
17-Jan-14
20-Jan-14
21-Jan-14
22-Jan-14
22-Jan-14
23-Jan-14
24-Jan-14
25-Jan-14
27-Jan-14
31-Jan-14
31-Jan-14
31-Jan-14
31-Jan-14
3-Feb-14
3-Feb-14
N arnolia Securities Ltd
402, 4th floor 7/ 1, Lord s Sinha Road Kolkata 700071, Ph
033-32011233 Toll Free no : 1-800-345-4000
email: research@narnolia.com,
w ebsite : w w w .narnolia.com

Risk Disclosure & Disclaimer: This report/message is for the personal information of
the authorized recipient and does not construe to be any investment, legal or taxation
advice to you. Narnolia Securities Ltd. (Hereinafter referred as NSL) is not soliciting any
action based upon it. This report/message is not for public distribution and has been
furnished to you solely for your information and should not be reproduced or
redistributed to any other person in any from. The report/message is based upon
publicly available information, findings of our research wing “East wind” & information
that we consider reliable, but we do not represent that it is accurate or complete and we
do not provide any express or implied warranty of any kind, and also these are subject to
change without notice. The recipients of this report should rely on their own
investigations, should use their own judgment for taking any investment decisions
keeping in mind that past performance is not necessarily a guide to future performance
& that the the value of any investment or income are subject to market and other risks.
Further it will be safe to assume that NSL and /or its Group or associate Companies, their
Directors, affiliates and/or employees may have interests/ positions, financial or
otherwise, individually or otherwise in the recommended/mentioned securities/mutual
funds/ model funds and other investment products which may be added or disposed
including & other mentioned in this report/message.
Looking for Nifty Jan 2014 Future? You can get details in Narnolia Securities Limited Daily Dairy 2.1.2014

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Looking for Nifty Jan 2014 Future? You can get details in Narnolia Securities Limited Daily Dairy 2.1.2014

  • 1. 2nd Jan 2014 MARKET DIARY SGX NIFTY : 6343 ( 3pts Down ) Quote of The Day "Stop trying to predict the direction of the stock market, the economy or elections." - Warren Buffett MARKET Name Value Change Sensex Nifty DOW NASDAQ CAC 21140.48 6301.65 Closed Closed Closed DAX FTSE NIKKIE HANG SENG Closed Closed Closed 23211.44 (94.84) 10013.35 (166.24) Chart of the Day Indian Equities Institution Trend EW ALL SHARE (30.20) (2.35) INSTITUTIONAL TURNOVER FII Investor Sale(Cr.) Net(Cr.) 225.12 214.96 10.16 Jan,14 2014 Index Action-Nifty (1th Jan, 14) Buy(Cr.) 1th Jan, 14 225.12 225.12 214.96 214.96 10.16 10.16 DII Investor Buy(Cr.) Sale(Cr.) Net(Cr.) 1th Jan, 14 359.22 581.34 (222.12) Jan,14 2014 359.22 359.22 581.34 581.34 (222.12) (222.12) COMMODITY PRICE Index Contents Economic calendar Page 4 Coverage UPDATE News 3 UPDATE Derivative Research 2 UPDATE UPDATE COMMODITY/CURRENCIES GOLD SILVER CRUDEOIL Value 28409.00 43889.00 111.65 ↓ ↑ ↑ COPPER NATURALGAS 468.60 264.20 ↑ ↓ DOLLAR/RS. EURO/RS. POUND/RS. 61.90 85.17 102.63 ↑ ↑ ↑ Narnolia Securities Ltd. 124, 1st floor 7/1, Lords Sinha Road Kolkata -700071. Ph 033-22821500/01/02/03/04 Mob : 9830013196 email: research@narnolia.com, website : www.narnolia.com 1
  • 2. Derivative Research NIFTY SNAPSHOT Nifty Spot Nifty Jan 2014 Future 6301.65(-2.35) 6360 Nifty Feb 2014 Future Nifty Jan 2014 Open Interest 6401 19806250 Nifty Feb 2014 Open Interest 7 DMA of Spot Nifty 1158500 6291 21 DMA of Spot NIfty 50 DMA of Spot Nifty 6250 6192 VOLATILITY INDEX (VIX) PUT CALL RATIO GRAPH 15.58(+0.46) 0.92 Nifty (Jan Series) Option OI Distribution: Index Outlook Activity of Nifty (Jan Series) Strike CALL OI % Chng 6000 784350 -0.7 6100 882900 0.5 6200 1090050 1.4 6300 2518400 3.1 6400 3726850 5.2 6500 4628650 5.0 Fresh Long Seen In (Rising OI -Rising Price) Scrip OI OI ch% DISHTV 16,896,000 30.9 CENTURYTEX 5,415,000 14.0 TATACOMM 7,048,000 12.7 IDEA 9,698,000 12.4 ARVIND 7,212,000 11.5 PCR (OI) STOCK T1 IOB 0.90 MRF 0.25 FEDERALBNK 0.20 MCDOWELL-N 0.48 BANKINDIA 0.56 FIIs Activity (Fig in Cr) Segment PUT OI Buy Sell Net % Chng 2899100 3016000 3727700 4079000 1377650 701850 CMP 60.8 313.9 309.5 168.1 138.7 T2 0.25 0.17 0.14 0.36 0.44 3.3 0.1 4.4 6.9 2.3 2.4 Ch% 0.2 0.1 0.1 0.7 1.5 INDEX FUTURE INDEX OPTION STOCK FUTURE STOCK OPTION TOTAL 669 3,467 1,038 379 5,553 655 3,460 1,255 375 5,746 Fresh Shorts Seen In: (Rising OI -Falling Price) Scrip OI OI ch% CMP PFC 5,802,000 13.9 166.3 CESC 873,000 13.4 464.6 RECLTD 2,520,000 11.9 219.1 APOLLOTYRE 39,616,000 7.1 104.9 PTC 2,776,000 6.8 65.5 YESTERDAY'S IMPACT TRADE STOCK STRIKE CE STOCK RCOM 140 CE RELIANCE SBIN 1800 CE RCOM RELIANCE 900 CE SBIN DLF 180 CE INFY MCDOWELL-N 2600 CE MCDOWELL-N 14 7 (218) 4 (193) Ch% -0.4 -0.3 -0.7 -2.1 -1.0 STRIKE PE 880 PE 130 PE 1700 PE 3500 PE 2500 PE
  • 3. Markets Snapshot Top Price Performers Top Performers Top Performers 1D % Change Top Performers 1W % Change UBHOLDINGS 19.94 SIGRUN 50.00 1M DQE % Change OMAXAUTO 19.88 UBHOLDINGS 46.85 MLKFOOD 109.16 ASSAMCO RAMANEWS 19.05 18.60 MAVENSBIO GTL 42.03 41.10 SVCRES RICOAUTO 96.75 92.98 DBREALTY 16.89 KAVVERITEL 40.51 MCDHOLDING 81.40 113.59 Worst Price Performers Worst Performers 1D % Change Worst Performers 1W % Change Worst Performers 1M % Change GLOBALCA (19.96) GLOBALCA (32.00) STAR (63.43) JAIBALAJI (9.81) INDINFO (14.75) KINETICENG (40.38) TANEJAERO (8.36) BIHARSPONG (14.75) GLOBALCA (36.50) SINCLAIR (7.88) SCANPGEOM (14.41) TFL (35.96) EICLLTD (6.92) SOUISPAT (14.33) ZENITHINFO (34.13) Top News : • Talwalkars Mgt Guideline : The company will achieve 30 percent bottomline in FY15. Company hopes on its various value added services like Reduce (diet plans), Zumba (fitness dance), Nuform . Comapny is aiming at providing Zumba in 100 more gyms. Mgt further adds that fee hikes are likely post April 1, 2014. • Atul Auto Mgt Guideline : The company is likely to sustain the 18.5 percent growth rate for FY14 and expects the momentum to continue going ahead. The company is likely to introduce 350 KG capacity gasoline three-wheeler in 2014 which can be used with alternate fuel options as well like CNG, LPG and with that hopes to cater urban as well as export market. • Ashoka Buildcon has received Letters of Acceptance (LoAs) for the Projects viz. Execution of Distribution strengthening works under Restructured Accelerated Power Development and Reforms Programme (R-APDRP) Part-B Scheme on total turnkey basis aggregating Rs 596.28cr from TANGEDCO. • Lakshmi Vilas Bank board will consider rights issue on Friday.A meeting of the board of directors of the bank will be held on January 03, to consider and if thought fit, to approve the proposal for further issue of equity shares on rights basis, to existing shareholders of the bank . • M&M Dec 2013 Auto sales : -12.6 % ( YoY ) , 0.9 % ( MoM ) . Maruti Dec 2013 Auto sales : -4.4 % ( YoY ) , -1.3 % ( MoM ) . Atul Auto Dec 2013 Auto sales : +23.4 % ( YoY ) ( 3510 in Dec 2013 Vs 2844 in Dec 2012 ). • U.S. Food and Drug Administration gave a tentative approval to Lupin for generic version of cholesterol drug niacin, a form of vitamin B . • RBI revises norms on gold dore imports by bullion refineries RBI says -Quantum of gold dore to be imported should be determined lot-wise on the basis of export performance -Before next import, not more than 80 percent shall be allowed to be sold domestically -Dore so imported shall be refined and released based on first-in-first-out basis following 20:80 principle • Government -November eight core industries growth at 1.7 percent versus 5.8 percent (YoY) -April-November eight core industries growth at 2.5 percent versus 6.7 percent (YoY) -Nov CPI Industrial Workers Infln At 11.47% Vs 11.06% (MoM) -Nov CPI-IW Food Inflation At 16.17% Vs 15.02% (MoM) • China's Purchasing Managers' Index (PMI) dipping to 51.0 . Economists had expected the official PMI, published by the National Bureau of Statistics, to ease to 51.2 from November's 51.4. • Delhi distribution companies (Discoms) are out of the Comptroller and Auditor General of India (CAG) ambit: Sources Alert: CAG audits only government owned companies Alert: Delhi Discom 51:49 JV between private companies and government ( Tata Power , Reliance Power in focus) -Accounts regularly audited by CAG empanelled auditors -85 percent of expenses are indirectly under CAG domain - PIL pending in Delhi High Court since February 2011 -Matter is currently sub-judice in Delhi High Court .
  • 4. Economic Calendar Monday 30-Dec Tuesday 31-Dec US S&P/CS Composite-20 HPI y/y , Pending Home Sales m/m . Chicago PMI UK/EURO ZONE Housing Equity Withdrawal q/q Wednesday 1-Jan Thursday 2-Jan Retail PMI Friday 3-Jan Unemployment Claims , Final Manufacturing Crude Oil Inventories , Total Vehicle Sales PMI , ISM Manufacturing PMI , Construction , Natural Gas Storage . Spending m/m . Spanish Manufacturing PMI , Italian Manufacturing PMI , Manufacturing PMI . INDIA Auto sales no .HSBC manufacturing PMI data Auto sales no . Spanish Unemployment Change , M3 Money Supply y/y , Private Loans y/y , Construction PMI , BOE Credit Conditions Survey , Net Lending to Individuals m/m . HSBC India Services PMI , HSBC India Composite PMI. Result Calendar Q3FY14 BSE Code Company Name Date BSE Code Company Name Date 532131 514358 536709 502700 532857 507488 521248 532187 500209 506894 509567 507984 517326 500086 520066 500266 532978 500034 532977 500490 Triumph Intl Everlon Syn VAK POW INF Arunoday Mills Glory Polyfilms GM Breweries Kitex Garments Indusind Bank Infosys Chemfab Alk Goa Carbon-$ SER Inds CMC Exide Inds Jay Bharat Marut Maharashtra Scoot Bajaj Finserv BAJFINANCE Bajaj Auto Bajaj Holdings 3-Jan-14 4-Jan-14 4-Jan-14 7-Jan-14 7-Jan-14 7-Jan-14 9-Jan-14 10-Jan-14 10-Jan-14 11-Jan-14 11-Jan-14 11-Jan-14 13-Jan-14 13-Jan-14 13-Jan-14 14-Jan-14 15-Jan-14 15-Jan-14 16-Jan-14 16-Jan-14 500490 511288 532894 531841 532218 500180 500820 500411 533573 500010 531049 532652 533179 507598 505250 500165 500414 524038 522261 521038 Bajaj Holdings Gruh Finance Indowind Ener Indus Finance Corp South Indian Bank HDFC Bank Asian Paints Thermax Alembic Pharma HDFC Neelkanth Rock Karnataka Bank Persistent Sys KLRF GG Dandekar Kansai Nerolac Timex Group-$ Venlon Enter Dolphin Offsh-$ Tamilnadu Jai 16-Jan-14 16-Jan-14 16-Jan-14 16-Jan-14 16-Jan-14 17-Jan-14 20-Jan-14 21-Jan-14 22-Jan-14 22-Jan-14 23-Jan-14 24-Jan-14 25-Jan-14 27-Jan-14 31-Jan-14 31-Jan-14 31-Jan-14 31-Jan-14 3-Feb-14 3-Feb-14
  • 5. N arnolia Securities Ltd 402, 4th floor 7/ 1, Lord s Sinha Road Kolkata 700071, Ph 033-32011233 Toll Free no : 1-800-345-4000 email: research@narnolia.com, w ebsite : w w w .narnolia.com Risk Disclosure & Disclaimer: This report/message is for the personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you. Narnolia Securities Ltd. (Hereinafter referred as NSL) is not soliciting any action based upon it. This report/message is not for public distribution and has been furnished to you solely for your information and should not be reproduced or redistributed to any other person in any from. The report/message is based upon publicly available information, findings of our research wing “East wind” & information that we consider reliable, but we do not represent that it is accurate or complete and we do not provide any express or implied warranty of any kind, and also these are subject to change without notice. The recipients of this report should rely on their own investigations, should use their own judgment for taking any investment decisions keeping in mind that past performance is not necessarily a guide to future performance & that the the value of any investment or income are subject to market and other risks. Further it will be safe to assume that NSL and /or its Group or associate Companies, their Directors, affiliates and/or employees may have interests/ positions, financial or otherwise, individually or otherwise in the recommended/mentioned securities/mutual funds/ model funds and other investment products which may be added or disposed including & other mentioned in this report/message.