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Opening Bell Sep ICICI Direct

VIEWS: 3 PAGES: 11

									           Opening Bell
                                                                                                                                                                            September 24, 2012


                                                                                                                Key Points
Index Movement (past 5 days)                                                                                         Market outlook — Open flat to negative on negative Asian cues
         5900
                                                                                                    18800                Negative – Political uncertainty over continuance of reforms
         5700                                                                                       18100       Market Outlook
         5500                                                                                       17400        • The Indian markets are expected to open flat to negative on negative
         5300                                                                                       16700
                                                                                                                     Asian cues. The markets soared to their highest levels in 14 months
                                                                                                                     on Friday after the government notified all the FDI decisions taken
         5100                                                                                       16000
                                                                                                                     last week and also showed signs of moving ahead with the reforms
                11-Sep

                         12-Sep

                                   13-Sep

                                            14-Sep

                                                       17-Sep

                                                                 18-Sep

                                                                             20-Sep

                                                                                        21-Sep




                                                                                                                     agenda. Political uncertainty greatly reduced as the Samajwadi Party
                                                                                                                     pledged support to the government, furthering the positive
                                   BSE (RHS)                       NSE (LHS)                                         sentiment. Also, a reduction in withholding tax paid on foreign
                                                                                                                     borrowing and extension of the ambit of the Rajiv Gandhi Equity
Institutional Activity                                                                                               Savings Scheme led the markets to rally. The Sensex rose smartly by
    21-Sep-2012                                                           FIIs                           DIIs        403.6 points to 18752.8 while the Nifty jumped up by 136.9 points to
    Net flows (| cr)                                              2327.8                          -1127.3            5691.2. The Sensex has supports at 18560 and 18490 and resistances
                                                                                                                     at 18870 and 18950. The Nifty spot has supports at 5650 and 5625
What’s moving Nifty (top 3)                                                                                          and resistances at 5700 and 5730

         15.0
                 11.0
                                                                                                                 •       The US markets closed flat on Friday with major indices showing a
                                  10.6
         11.0                                 9.5                                                                        mixed closing. The markets opened strongly on the back of strong
          7.0                                                                                                            global cues and a report in Financial Times, which suggested that
                                                                                                                         European Union officials were working to ensure a smooth Spanish
          3.0                                                   -0.9             -2.9             -3.7
                                                                                                                         rescue programme. However, the markets failed to sustain the
         -1.0                                                                                                            momentum and ended flat on lack of fresh cues. The Dow slipped by
         -5.0                                                                                                            17.5 points or 0.1% to 13,579.5, the Nasdaq moved up by 4.0 points
                 L&T              HDFC       HDFC             Dr.                TCS             Infosys                 or 0.1% to 3,179.9 and the S&P 500 was down 0.11 points to end the
                                  Bank                      Reddy's                                                      day at 1,460.2
                                                              Lab
Advances/Declines
hghghh
                                                                                                                News: Reliance Communications, KEC International
                     Adv.              %        Dec.               %             Unch.              Total
    BSE             1815           59.7        1102               36                  123           3040        Markets
    NSE             1057           66.6              467        29.4                   62           1586                            Close   Previous   Change   Chg(%)   MTD(%)   YTD(%)   PE (1yr fwd)
                                                                                                                Sensex            18752.8   18349.3     403.6      2.2      5.3     18.7           15.4
    Total           2872           64.7        1569             35.3                  101           4441
                                                                                                                Nifty              5691.2    5554.3     136.9      2.5      5.6     20.1           14.7
ADRs ($)                                                                                                        SGX Nifty          5689.5     5712.5    -23.0     -0.4              22.7
                                            Price               Change                    change (%)            US
                                                                                                                Dow Jones         13579.5    13596.9    -17.5     -0.1      3.7     10.9          13.1
    HDFC Bank                               36.8                       0.8                               2.1
                                                                                                                Nasdaq             3180.0     3176.0      4.0      0.1              22.1
    Dr Reddys Labs                          30.6                       0.0                           -0.1
                                                                                                                S&P                1460.2     1460.3     -0.1      0.0              16.1
    Tata Motors                             25.4                       0.7                               2.9
                                                                                                                Asia
    ICICI Bank                              39.7                       2.1                               5.6
                                                                                                                Nikkei               9110     9087.0     23.0      0.3      3.1      7.6          13.7
    Infosys                                 48.7                       0.9                               1.8
                                                                                                                Kospi              2002.4     1990.3     12.0      0.6      5.1      8.8           8.9
    Wipro                                     9.0                      0.2                               1.9
                                                                                                                Shanghai          2026.69     2024.8      1.9      0.1              -7.9
    MTNL                                      1.4                      0.0                           -2.9
                                                                                                                Europe
                                                                                                                France             3530.7     3509.9     20.8      0.6
.
                                                                                                                Germany            7451.6     7389.5     62.1      0.8              26.3
                                                                                                                U.K.               5852.6     5854.6     -2.0      0.0               6.2




           ICICI Securities Ltd. | Retail Equity Research
                                                 Technical Outlook
                                                 September 24, 2012
                                                 We said, "Lows testing technical supports at lower channel and gap-up
                                                 area ... watch the supports." Holding the supports, the Index opened with
                                                 strength and surged further to end a huge 404 points or 2.2% higher.
                                                 Except IT, all sectors gained. Power, capital goods, metals and banks shot
                                                 up 4% while the A/D ratio turned positive 3:1.

                                                 The action formed the biggest Bull candle of 2012, which retraced the
                                                 preceding three-day fall fully. With this, the structure resumes as positive,
                                                 targeting 19,000+ levels. Trading-wise, however, after strong gains, some
                                                 cooling off action cannot be ruled out, especially if the Index fails to trade
                                                 above the candle's head. Watch accordingly.




                                                 Pivot Points
                                                 Index/Stocks           Close        S1         S2         R1         R2     Trend
                                                 SENSEX              18752.83   18714.90   18601.00   18942.75   19009.25     +ve
                                                 NIFTY                5691.15    5676.70    5640.55    5748.95    5770.55     +ve
                                                 ACC                  1379.50    1376.90    1367.95    1394.80    1400.75     +ve
                                                 ANDHRA BANK           110.90     110.60     109.55     112.65     115.15     +ve
                                                 ARVIND                 75.10      74.70      73.75      76.55      77.15     +ve
                                                 NSE BAJAJ-AUTO       1800.60    1796.00    1791.35    1805.25    1809.85   Neutral
                                                 BALAJI TELE            44.65      44.50      44.30      45.00      45.25   Neutral
                                                 BOB                   780.30     776.65     768.85     792.25     805.50     +ve
                                                 BOI                   302.45     300.85     295.80     310.85     314.80     +ve
                                                 BEL                  1224.40    1221.55    1209.45    1245.70    1257.20     +ve
                                                 BPCL                  347.30     346.90     344.30     352.05     355.70     +ve
                                                 BHEL                  232.40     230.25     226.50     237.80     240.90     +ve
                                                 Canara Bank           429.75     426.20     419.10     440.40     447.80     +ve
                                                 Century               344.65     344.50     341.85     349.75     353.05     +ve
                                                 CIPLA                 361.30     361.75     359.60     366.05     368.05     +ve
                                                 DR.REDDY'S LAB.      1643.70    1636.65    1620.25    1669.50    1685.95   Neutral
                                                 GAIL                  385.35     383.65     379.30     392.35     396.70     +ve
                                                 GEOMETRIC             113.50     108.85     105.35     114.35     117.10        -ve




ICICI Securities Ltd. | Retail Equity Research                                                                          Page 2
                                                                     Derivative Statistics
India VIX                                                            Nifty / India VIX
Open        High      Low      Current    Previous     Change (%)
    18.6       19.5     17.1       18.9         18.6           1.7              40                                                                                                     6500
                                                                                                                                                                           5691.2

                                                                                                                                                                                       5500
                                                                                30
                                                                                                                                                                                       4500
                                                                                20




                                                                          %
                                                                                                                                                                                       3500
                                                                                                                                                                                18.9
                                                                                10
                                                                                                                                                                                       2500

                                                                                  0                                                                                                    1500




                                                                                                Jul-11




                                                                                                              Oct-11




                                                                                                                                Dec-11




                                                                                                                                          Mar-12




                                                                                                                                                           Jun-12




                                                                                                                                                                              Aug-12
                                                                                      Apr-11

                                                                                                                       VIX Close          NIFTY Close (RHS)



                                                                     Trading activity in capital markets (in | crore)
                                                                          BSE - Institutional turnover                              Buy                       Sell                             Net
                                                                          FII                                                    6,806                     4,478                              2328
                                                                          DII                                                    1,758                     2,886                            -1127
                                                                          Total                                                   8564                     7364                               1201




                                                                     Bulk/ Block Deal
                                                                     1




                                                                     September 21, 2012
                                                                         Company                         Client Name                               Type             No. of shares      Price (|)
                                                                         BSE
                                                                         Ess Dee Alum                    Ironwood Investment Holdings               Sell                 434000          135.0
                                                                         NSE**
                                                                      Rainbow Papers                     Man Industries India                       Sell                 833017            70.4
                                                                     Source: NSE BSE
                                                                     ** NSE as on 14th Sep 2012




   ICICI Securities Ltd. | Retail Equity Research                                                                                                                                Page 3
                                                                   Economic Indicators
                                                                   |/$
Currencies            Close    Pre.                Change
                                             1m       3m     6m
                                                                            58
EURO                  1.30     1.30        0.05      0.08   0.00
                                                                            56
GBP                   1.62     1.62        0.04      0.07   0.02
                                                                            54
YEN                   78.14    78.29       -0.51     0.01 -1.01
AUD                   1.05     1.05        0.01      0.02   0.04            52
                                                                                                                                                                                                                                                                             53.45
CAD                   0.98     0.97        -0.02 -0.04 -0.04                50
CHF                   0.93     0.93        -0.03 -0.05      0.00            48
INR                 53.45      54.38       -2.05 -3.56      2.28            46
With base currency US$
                                                                            44
The rupee on Friday gained 93 paisa to close at an over four-               42
month high on massive US dollar capital inflows as the




                                                                                                                       Nov-11
                                                                                                      Oct-11




                                                                                                                                         Dec-11




                                                                                                                                                                                  Mar-12




                                                                                                                                                                                                            May-12
                                                                                                                                                      Jan-12


                                                                                                                                                                   Feb-12




                                                                                                                                                                                               Apr-12




                                                                                                                                                                                                                          Jun-12


                                                                                                                                                                                                                                            Jul-12


                                                                                                                                                                                                                                                              Aug-12
                                                                                   Sep-11




                                                                                                                                                                                                                                                                            Sep-12
government lowered withholding tax for foreign borrowing
and political uncertainty reduced significantly

                                                                   Source: Reuters


                                                                   WPI Inflation (%)


                                                                    11
Inflation for August 2012 came in at 7.55% surprising
negatively as the market had estimated it at 7.0%. Primary
articles inflation continues to be in double digits while fuel       9
inflation shot up to 8.32%. Manufactured goods inflation
inched upwards to 6.14%                                                                                                                                                                                                                                       7.55

                                                                     7



                                                                     5
                                                                         Apr-11




                                                                                                                                                                                              Feb-12



                                                                                                                                                                                                                 Apr-12
                                                                                                     Jun-11



                                                                                                                                Aug-11



                                                                                                                                                    Oct-11



                                                                                                                                                                        Dec-11




                                                                                                                                                                                                                                       Jun-12



                                                                                                                                                                                                                                                                  Aug-12
                                                                   Source: Reuters


                                                                   G sec yield (%)

                                                                    9.1
                                                                    8.8
                                                                    8.5
                                                                    8.2
                                                                    7.9
                                                                    7.6
                                                                    7.3
                                                                    7.0
                                                                                                                                           Nov-11
                                                                          Jul-11

                                                                                            Aug-11

                                                                                                              Sep-11

                                                                                                                          Oct-11




                                                                                                                                                       Dec-11

                                                                                                                                                                  Jan-12

                                                                                                                                                                                 Feb-12




                                                                                                                                                                                                                                                                   Aug-12
                                                                                                                                                                                             Mar-12

                                                                                                                                                                                                        Apr-12

                                                                                                                                                                                                                     May-12

                                                                                                                                                                                                                                   Jun-12

                                                                                                                                                                                                                                                     Jul-12




                                                                                                                                     1 Year                     2 Year                     5 Year                10 Year

                                                                   Source: Reuters




    ICICI Securities Ltd. | Retail Equity Research                                                                                                                                                                                                             Page 4
                                                                   Commodities
                                                                   Crude Oil ($/barrel)

                                                                    110

Crude prices increased for a second consecutive day as supply
                                                                    100
concerns and improved economic optimism fuelled a rebound
from the major declines witnessed last week
                                                                     90
                                                                                                                                                                                                                                                                        92.89

                                                                     80

                                                                     70

                                                                     60




                                                                                                                                       Nov-11
                                                                          Jun-11

                                                                                     Jul-11

                                                                                                       Aug-11




                                                                                                                             Oct-11




                                                                                                                                                     Dec-11

                                                                                                                                                                  Jan-12

                                                                                                                                                                                    Feb-12




                                                                                                                                                                                                         Apr-12




                                                                                                                                                                                                                                Jun-12

                                                                                                                                                                                                                                                 Jul-12

                                                                                                                                                                                                                                                            Aug-12
                                                                                                                    Sep-11




                                                                                                                                                                                             Mar-12




                                                                                                                                                                                                                      May-12




                                                                                                                                                                                                                                                                              Sep-12
                                                                   Source: Reuters

                                                                   Gold ($/Ounce)

                                                                    2000

                                                                                                                                                                                                                                                                     1772.4
                                                                    1800
Gold prices increased nearly 1% on Friday to a six-month high as
expectations that measures taken by the central banks to            1600
stimulate growth would boost fuel inflation and reduce interest
rates led to a gain in gold prices for a fifth week in a row
                                                                    1400


                                                                    1200


                                                                    1000
                                                                                              Nov-11
                                                                            Oct-11




                                                                                                                 Dec-11


                                                                                                                              Jan-12


                                                                                                                                            Feb-12




                                                                                                                                                                                Apr-12




                                                                                                                                                                                                                  Jun-12


                                                                                                                                                                                                                               Jul-12


                                                                                                                                                                                                                                                   Aug-12
                                                                                                                                                              Mar-12




                                                                                                                                                                                                May-12




                                                                                                                                                                                                                                                                     Sep-12
                                                                   Source: Reuters


                                                                   Copper ($/tonne)

                                                                    9500


Copper rose on Friday, supported by hopes that recent stimulus
measures from around the world will boost liquidity and metals                                                                                                                                                                                                       8281.5
demand in a struggling global economy, especially in China, the
largest consumer                                                    8000




                                                                    6500
                                                                                                                Nov-11




                                                                                                                                        Jan-12




                                                                                                                                                                                                                                        Jul-12
                                                                            Sep-11




                                                                                                                                                                           Mar-12




                                                                                                                                                                                                         May-12




                                                                                                                                                                                                                                                                          Sep-12




                                                                   Source: Reuters




      ICICI Securities Ltd. | Retail Equity Research                                                                                                                                                                                                        Page 5
                                                 Market Indicators
                                                 Fund activity (for past five trading sessions in | crore)

                                                                      2834
                                                       2800
                                                                                                                 2328
                                                                                 2252
                                                       2300
                                                       1800
                                                       1300                                1049

                                                           800
                                                           300
                                                           -200
                                                                                                      -74
                                                           -700                                                                                             -331
                                                                                                                                                  -671
                                                       -1200                                                                  -688       -838
                                                                                            FII                                                   DII               -1127

                                                                                  14-Sep-12          17-Sep-12       18-Sep-12        20-Sep-12        21-Sep-12

                                                 Source: BSE


                                                 Turnover analysis (in | crore)

                                                                      2041
                                                       21-Sep                19084
                                                                                                                                                         244412

                                                                      1972
                                                       20-Sep            12407
                                                                                                                  126260

                                                                      1966
                                                       18-Sep             13880
                                                                                                             116280

                                                                  0               50,000          100,000           150,000           200,000          250,000       300,000

                                                                                            BSE Cash              NSE Cash            NSE Derivative
                                                 [[




                                                 Source: Reuters, NSE

                                                 Sector Statistics
                                                      Sector                                 Close           Previous            Change           % Change            Volume
                                                      Capital Goods                         9326.2               9569.1              -243.0              -2.5          17434
                                                      IT                                    5726.2               5731.6                -5.4              -0.1               859
                                                      FMCG                                  5399.4               5360.9               38.5                0.7           2023
                                                      Metals                                9453.7               9710.0              -256.3              -2.6           4985
                                                      Oil & Gas                             8193.8               7642.0              551.8                7.2           1320
                                                      PSU                                   6901.1               6974.7               -73.6              -1.1           6529
                                                      Banks                                11292.7           11501.6                 -208.9              -1.8           3353
                                                      Mid Cap                               6023.5               6042.4               -18.9              -0.3          48491
                                                      BSE100                                5214.7               5259.3               -44.6              -0.8          48655
                                                      Healthcare                            7399.7               7467.3               -67.6              -0.9           1599
                                                      Auto                                  9239.8               9335.5               -95.7              -1.0           2779
                                                      BSE Small Cap                         6391.4               6422.5               -31.2              -0.5          44326
                                                      Consumer Durables                     6290.9               6334.7               -43.8              -0.7           1853
                                                 Real Estate                                1507.0               1521.7               -14.6              -1.0           6211
                                                 Source: Reuters, BSE




ICICI Securities Ltd. | Retail Equity Research                                                                                                                     Page 6
                                                 News & Views
                                                 Reliance Communications has announced a hike in its
                                                 voice tariffs by 25%. The base tariffs will now be 1.5
                                                 paisa per second as opposed to 1.2 paisa per second.
                                                 The tariff will be applicable to all circles in the next
                                                 month. The move will help the company to improve per
                                                 user revenue and margins.
                                                 KEC International's newly commissioned power and
                                                 telecom cables manufacturing plant at Vadodara has
                                                 bagged a | 36 crore order. The plant will target the
                                                 growing extra high voltage (EHV) market within India
                                                 and the export market in Africa. The company has a
                                                 current order book in cables of around | 350 crore.



                                                 Domestic Events Calendar (September 23, 2012 – September 29, 2012)
                                                 Date           Event
                                                 28-Sep         Current Account Balance
                                                 30-Sep         Fiscal Deficit Data


                                                 Global Events Calendar (September 23, 2012 – September 29, 2012)
                                                 Date           Event
                                                 25-Sep         Home Price Index (JUL) - US
                                                 25-Sep         Consumer Confidence Index (SEP) - US
                                                 25-Sep         Richmond Fed Manufacturing Index (SEP) - US
                                                 25-Sep         CB Leading Index (AUG) - Eurozone
                                                 26-Sep         Current Account Balance - BoP(Q2) - US
                                                 26-Sep         MBA Mortgage Applications (SEP)- US
                                                 26-Sep         Housing Data (AUG) - US
                                                 26-Sep         EIA Crude Oil Inventory (SEP) - US
                                                 27-Sep         M3 Money Supply (AUG) - Eurozone
                                                 27-Sep         Consumer Confidence Index (SEP) - Eurozone
                                                 27-Sep         Business Climate Indicator (SEP) - Eurozone
                                                 27-Sep         Durable Goods Orders (AUG) - US
                                                 27-Sep         Jobs Data (SEP) - US
                                                 27-Sep         Pending Homes Sales - US
                                                 27-Sep         Flash CPI - EU Harmonised (SEP) - Eurozone
                                                 28-Sep         Chicago PMI (SEP) - US




ICICI Securities Ltd. | Retail Equity Research                                                                        Page 7
                                                 Rating Changes
                                                 ICICIdirect.com Universe
                                                 11-Sep-12     Hindustan Dorr Oliver                         Buy         Hold          23      22
                                                 10-Sep-12     Dabur India                                   Hold        Buy          130   143
                                                 27-Aug-12     Gateway Distriparks                           Buy         Hold         135   147
                                                 22-Aug-12     Pipavav Defence & Offshore Engineering Company Hold       Buy           60      69
                                                 22-Aug-12     OnMobile Global                               Under Review Hold         41      43
                                                 21-Aug-12     ABG Shipyard                                  Buy         Hold         360   375
                                                 17-Aug-12     PTC India                                     Buy         Hold          60      65
                                                 14-Aug-12     IDFC                                          Buy         Hold         140   140
                                                 14-Aug-12     Fortis Healthcare                             Hold        Sell         101      84
                                                 13-Aug-12     Hathway Cable & Datacom                       Hold        Buy          181   200
                                                 13-Aug-12     Oil and Natural Gas Corporation               Buy         Hold         281   285
                                                 13-Aug-12     Lovable Lingerie                              Buy         Hold         342   320
                                                 7-Aug-12      BGR Energy                                    Buy         Hold         282   302
                                                 7-Aug-12      Sanghvi Movers                                Buy         Hold          95   101
                                                 7-Aug-12      Balkrishna Industries                         Hold        Buy          279   346
                                                 7-Aug-12      Jet Airways                                   Hold        Buy          375   440
                                                 6-Aug-12      City Union Bank                               Hold        Buy           53      60
                                                 2-Aug-12      IDBI Bank                                     Buy         Hold          87      95
                                                 1-Aug-12      Dhampur Sugar Mills                           Hold        Buy           77      66
                                                 1-Aug-12      Subros                                        Buy         Hold          29      31
                                                 1-Aug-12      Indian Overseas Bank                          Buy         Hold          72      79
                                                 1-Aug-12      Jaiprakash Associates                         Hold        Buy           76      84
                                                 31-Jul-12     CESC                                          Hold        Buy          290   324
                                                 31-Jul-12     Sterlite Technologies                         Sell        Hold          33      31
                                                 31-Jul-12     Sun TV                                        Hold        Buy          257   300
                                                 30-Jul-12     IRB Infrastructure                            Hold        Buy          121   141
                                                 27-Jul-12     Jagran Prakashan                              Hold        Buy           89      98
                                                 25-Jul-12     Power Grid Corporation                        Hold        Buy          111   123
                                                 25-Jul-12     Kewal Kiran Clothing                          Hold        Buy          505   611
                                                 25-Jul-12     Torrent Pharmaceuticals                       Hold        Buy          665   746
                                                 24-Jul-12     Pantaloon Retail (India)                      Sell        Buy          175   248
                                                 24-Jul-12     Dabur                                         Buy         Hold         118   120
                                                 24-Jul-12     Praj Industries                               Buy         Hold          56      58
                                                 20-Jul-12     Dish TV                                       Buy         Hold          71      75
                                                 17-Jul-12     Exide Industries                              Hold        Buy          132   149
                                                 12-Jul-12     Bharti Airtel                                 Buy         Strong buy   306   420
                                                 6-Jul-12      GMR Infra                                     Buy         Hold          23      26
                                                 2-Jul-12      ITC Limited                                   Buy         Hold         250   270
                                                 25-Jun-12     Pantaloon Retail (India)                      Hold        Sell         182   148
                                                 *RP- Recommended Price
                                                 *TP- Target Price




ICICI Securities Ltd. | Retail Equity Research                                                                                        Page 8
                                                 Recent Releases
                                                 ICICIdirect.com Universe
                                                 17-Sep-12   Tele-Tracker - September, 2012
                                                 17-Sep-12   Monetary Policy Update (September 2012)
                                                 17-Sep-12   Event Update - Retail Sector
                                                 17-Sep-12   Sector Update - Cable & Satellite Industry
                                                 13-Sep-12   Freight Forward - September, 2012
                                                 13-Sep-12   Moto Gaze - September, 2012
                                                 13-Sep-12   Management Meet Update - KPIT Cummins Ltd
                                                 12-Sep-12   Event Update - Sesa-Sterlite
                                                 11-Sep-12   Company Update - Hindustan Dorr Oliver
                                                 11-Sep-12   Event Update - Infosys Ltd
                                                 10-Sep-12   Company Update - Dabur India
                                                 10-Sep-12   Management Meet Update - OCL India
                                                 10-Sep-12   Monthly Update - Health Check
                                                 7-Sep-12    Management Meet Update - Puma Sports India
                                                 7-Sep-12    Management Meet Update - Mahindra Life Space Developers
                                                 6-Sep-12    Management Meet Update - M&M Financial
                                                 6-Sep-12    Cement Sector Update: September 2012
                                                 6-Sep-12    Management Meet Update - Zee Entertainment
                                                 6-Sep-12    Result Update - Adhunik Metaliks
                                                 6-Sep-12    Management Meet Update - Shriram Transport Finance Co
                                                 5-Sep-12    Event Update - Tech Mahindra
                                                 4-Sep-12    Sector Update - JSW Steel
                                                 4-Sep-12    Management Meet Update - Savita Oil Technologies
                                                 3-Sep-12    Analyst Meet Update - Nestle India
                                                 31-Aug-12   Result Update - IVRCL Ltd
                                                 31-Aug-12   Company Update - Alok Industries
                                                 30-Aug-12   Company Update - Bharat Heavy Electricals
                                                 30-Aug-12   Initiating Coverage - Havells India
                                                 29-Aug-12   Event Update - Jaiprakash Associates
                                                 27-Aug-12   Management Meet Update - Supreme Infrastructure
                                                 27-Aug-12   Management Meet Update - Max India
                                                 27-Aug-12   Company Update - Gateway Distriparks
                                                 24-Aug-12   Event Update - Opto Circuits
                                                 24-Aug-12   Company Update - Hathway Cable & Datacom




ICICI Securities Ltd. | Retail Equity Research                                                                         Page 9
 Pankaj Pandey                            Head – Research                                  pankaj.pandey@icicisecurities.com

                                          ICICIdirect.com Research Desk,
                                          ICICI Securities Limited,
                                          1st Floor, Akruti Trade Centre,
                                          Road No 7, MIDC
                                          Andheri (East)
                                          Mumbai – 400 093
                                          research@icicidirect.com




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 specific circumstances. The securities discussed and opinions expressed in this report may not be suitable for all investors, who must make their
 own investment decisions, based on their own investment objectives, financial positions and needs of specific recipient. This report may not be
 taken in substitution for the exercise of independent judgment by any recipient. The recipient should independently evaluate the investment risks. I-
 Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of the use of this report. Past performance is not necessarily a
 guide to future performance. Actual results may differ materially from those set forth in projections. I-Sec may have issued other reports that are
 inconsistent with and reach different conclusion from the information presented in this report. This report is not directed or intended for distribution
 to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such
 distribution, publication, availability or use would be contrary to law, regulation or which would subject I-Sec and affiliates to any registration or
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ICICI Securities Ltd. | Retail Equity Research                                                                                             Page 10
                                                            Research Product Basket
     Research                                                                                        Time       Avg. Returns           Location
                            Perspective                                        Frequency
      Product                                                                                       frame        objective        on ICICIdirect.com
Pre-market view & Recommendation
                         Daily comprehensive snapshot containing
                         information & in-depth analysis of Indian &
                                                                                                                                       Market Page,
                         US markets, major headlines, technical view,       Pre-market open –
Opening Bell             derivatives statistics, economic indicators,             Daily
                                                                                                     1 Day           -                 Trading Page-
                                                                                                                                 Scroller & iCLICK-2-GAIN
                         commodities, market indicators, domestic &
                         global events.
                         Features four stocks & Nifty view with a
                         trading outlook for the day based on short-        Pre-market open –                                      Research page-We
Daily Calls                                                                       Daily
                                                                                                     1 Day         2-3 %
                                                                                                                                Recommend, Trading Page
                         term technical trends considering key
                         technical indicators & statistical information.
                         Trading strategy for a day in the futures &
                         options segment based on news events,              Pre-market open –                                      Research page-We
Daily Derivative         market trends, technical & other factors                 Daily
                                                                                                     1 Day         2-3 %
                                                                                                                                Recommend, Trading Page
                         governing movements in stocks.
Intraday Recommendation
                         Based on short-term technical trends and                                                                     Trading Page -
BTST Calls               stock specific news/news expectations.
                                                                                   Daily           1 – 2 Days      1 - 2%
                                                                                                                                      iCLICK-2-GAIN
Margin Calls             Based on short-term technical trends and
                                                                                   Daily             1 Days        1 - 2%
                                                                                                                                      Trading Page -
                         stock specific news/news expectations.                                                                       iCLICK-2-GAIN
Derivative Calls         Based on short-term technical trends and
                                                                                   Daily           1 – 2 Days      1 - 2%
                                                                                                                                      Trading Page -
                         stock specific news/news expectations.                                                                       iCLICK-2-GAIN
Derivative               Provides simplified derivative strategies such
                                                                                                                                      iClick-2-Gain
Strategies               as spreads and covered calls
Weekly & Monthly recommendations
                                                                                                                               Research page-We
                         Technical trends for a week considering key                                                           Recommend, Trading Page,
Weekly Calls             technical indicators & statistical information
                                                                                 Weekly            1-7 days         5%
                                                                                                                               iCLICK-2-GAIN
                                                                                                                               & iClick-2-Invest
                         Features stocks with a trading outlook for a
                         week based on short-term technical trends                                                             Research page-We
Weekly Technicals        considering key technical indicators &
                                                                                 Weekly            1-7 days        4 – 5%
                                                                                                                               Recommend, Trading Page
                         statistical information.
                         Trading opportunities in futures & options
                         segment based on data analysis, overall                                                               Research page-We
Weekly Derivatives                                                               Weekly            1-7 days        4 – 5%
                                                                                                                               Recommend, Trading Page
                         market trend, volatility & open interest
                         positions of securities.
                         Nifty outlook for the month based on F&O
Market Trends            data, FII activity, Heavyweights OI analysis            Monthly            30 days          -         Trading Page
                         along with statistical inputs.
                         Derivatives outlook on global equity indices,
                         currencies and commodities. Also,
Global Derivatives       elaborating the likely impact on the Indian
                                                                                 Monthly            30 days          -         Trading Page
                         bourses.
                         Trading outlook for a month based on
                                                                                                                               Research page-We
                         medium-term technical trends considering
Monthly Technical’s      key technical indicators & statistical
                                                                                 Monthly            30 days         10%        Recommend, Trading Page,
                                                                                                                               iClick-2-Invest
                         information.
Medium & Long term recommendations
                         Every week one stock on fundamental and/or
                         technical parameters, which have the                                                                  Research page-We
Pick of the week         potential to appreciate by 10% in a three
                                                                           Weekly – every Friday   3 months         20%
                                                                                                                               Recommend, Trading Page
                         month timeframe
                         Identifying Out-performers/Under-performers
Positional Derivatives   vis a vis index along with positional                  Fortnightly                                    Trading Page, iCLICK-2-GAIN
                         recommendation on Stocks/Nifty.
                         Covers stocks, which are likely to show                                                               Research page-We
                                                                            Fortnightly – every     > 7-15
Stocks on the move       significant upward movement in the next 15
                                                                           alternate Wednesday       days
                                                                                                                   5 – 7%      Recommend, Trading Page,
                         days due to change in trader sentiment.                                                               Scroller, iCLICK-2-GAIN
                                                                                                                               Research page-We
                         Fundamental report understanding the
Detailed Company                                                                                                  > 20% &      Recommend, Trading Page,
                         business model and future prospects of the          When published         > 1 year
Report                   company & valuations.
                                                                                                                   above       iCLICK-2-GAIN
                                                                                                                               & iClick-2-Invest
Equity Model             A portfolio based on your risk appetite: large                                                        Research page-We
Portfolio                cap, midcap and diversified                                                                           Recommend, iClick-2-Gain
High Dividend            Features high dividend yielding stocks for                                                            Research page-We
                                                                                 Quarterly
Yield Stocks             assured returns on investment                                                                         Recommend, iClick-2-Gain

								
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