‪‎ChoiceBroking‬ ‪Financial‬ tips Morning Tea ‪‎Buy‬ ‪AXISBANK‬ @468-471 ‪‎TGT‬ 481 ‪‎SL‬ 463 BUY ‪‎SKSMICRO‬ BUY @451-455 TGT 465 ‪‎SL446‬

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Global View
India Update
Today’s Event/ Stock in News
Reserve Bank of India (RBI) has granted in-principle nod to three entities including Axis Bank for setting up of a Trade Receivables Discounting System
(TReDS).TReDSwillallowSMEs toposttheirreceivableson thesystemand getthem financed.Thiswillnotonlygivethem greateraccess to financebutwill
also put greater discipline on corporates to pay their dues on time. The 'in-principle' approval granted will be valid for a period of 6 months, during which
timetheapplicantshavetocomplywiththerequirementsundertheGuidelinesandfulfiltheotherconditionsasmaybestipulatedbytheReserveBank.On
being satisfied that the applicants have complied with the requisite conditions laid down by it as part of 'in-principle' approval, the Reserve Bank would
considergrantingtothemaCertificateofAuthorisationforcommencementofthebusinessofTReDS.
Technical Outlook : On daily chart, stock has formed inverted Hammer Candlestick with above volume, which is a sign of bullish reversal and indicating for
upside movement that can be seen in coming trading sessions. Meanwhile, stock has given close above its 10 Day moving average which is placed at 469
level, which shows that stock’s near term trend is up. A momentum indicator RSI reading is above 40 marks with positive crossover which point out for
positivebreathinthestock.SofortradingperspectiveonecouldBuyintherangeof468-471 forthetargetof481withtheSLof463.
AXISBANK
SKSMICRO
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Morning Tea
30th Nov 2015
Buy in the range of 451-455 for the Target of 465 with the SL of 446
Buy in the range of 468-471 for the Target of 481 with the SL of 463
SKS Microfinance has decided 1% reduction in the interest rate charged to borrowers from 20.75% to 19.75% with effect from December 7, 2015, for all
futuredisbursals. With this, thecompany becomes thefirstmicro finance institution to chargea sub-20%interestrateon its coreIncome GeneratingLoans
(IGL)whichareunsecuredmicroloans.Interestrateof19.75%isthelowestratechargedbyanyprivatesectorMFIintheworld.
This is the fourth interest rate reduction, aggregating 4.8%, announced by the company since October 2014. The reductions are consistent with the
company's policy of passing on the cost advantages accruing from reduction in the cost of borrowing and economies of scale to its borrowers. SKS
Microfinance could reduce its marginal cost of borrowing to 11.3% in Q2-FY16 from 13.6% in FY14 on accountof downward adjustments in risk premium.
Marginal cost of borrowing for H2-FY16 is expected to be lower than 11.3% given the company has accessed refinance from MUDRA at 10% and issued
commercial papers at9.5%perannum in Octoberand November 2015. Thecompany's sustained turnaround,improved profitability in FY15, Q1-FY16 and
Q2-FY16, capital raise in May 2014, rating upgrade as also issuance of Commercial Papers and NonConvertible Debentures are the factors that drove the
reductioninitscostofborrowing.SKSMicrofinanceisanon-bankingfinancialcompany-microfinanceinstitution,providesmicrofinanceservices
Technical Outlook : On daily chart, stock has given positive breakout of its upper Band of Symmetrical Triangle Pattern with above average volume which
shows that stock could further accelerate its upside movement from the present level. Apart from this, stock has also managed to close above its 10 day
moving average which is placed at 433 level, which shows that stock’s near term trend is up. A momentum indicator RSI reading is above 40 marks with
positivecrossoverwhichpointoutforpositivebreathinthestock.SofortradingperspectiveonecouldBuyintherangeof451-455fortheTargetof465with
theSLof446.
Chinese equities opened higher on Monday, following their worst weekly performance last week since August. Elsewhere, other Asian equities
traded mostly in the red, on the back of a mixed close from Wall Street last week. There was some optimism on the back of the news that the
International Monetary Fund (IMF) is expected to announce its decision on Monday over the inclusion of the yuan into its Special Drawing Rights
(SDR) basket of currencies, making the yuan officially recognized reserve currency. Shanghai Composite index traded at -0.51 to 3418.77, Hang
Seng index traded at -0.20 % to 22024.57, Japan's benchmark Nikkei 225 index traded at -0.39% to 19807.43, South Korea's Kospi index traded
downby-1.71%to1994.90 levels.TheSGXNiftysuggestsaflattonegativeopeningforourmarketsasitistradingat7947.50, downby17points.
US stocks closed mixed on Fridaydue to a 3 percent decline in oil prices. Oil tumbled USD 1.33, or 3.09 percent, to USD 41.71 a barrelas the dollar
index,whichhitafresheight-monthhigh,addedadditionalpressuretoanoversuppliedmarket.TheDowJonesIndustrialAverageclosed15points,
or 0.08 percent, lower at 17,798.5 while the S&P 500 was up by 1.24 points, or 0.06 percent, to 2,090. The Nasdaq was up 11.4 points, or 0.22
percent,at5,128.

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Bulk Deal
Corporate Action / Result Calendar
SEBI Certified – Research Analyst www.choiceindia.com
Morning Tea
Corporate Action:
Result Calendar:
30th Nov 2015
Security in Ban
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Sr. No. Deal Date Script Code Security Name Client Name Deal Type Quantity Price
1 27/11/2015 534060 PMCFIN FAMOUS INVESTMENT CONSULTANTS PRIV S 2500000 0.81
2 27/11/2015 534060 PMCFIN PARESH RAMJIBHAI CHAUHAN S 2459857 0.83
3 27/11/2015 534060 PMCFIN PARESH RAMJIBHAI CHAUHAN B 2459857 0.81
4 27/11/2015 532348 SUBEX WAY2WEALTH SECURITIES P LTD S 1523089 14.26
5 27/11/2015 532348 SUBEX WAY2WEALTH SECURITIES P LTD B 1523089 14.22
6 27/11/2015 530117 ADIFINCHM HEMANTBHAI SHAH MEENABEN B 874687 213
7 27/11/2015 530117 ADIFINCHM HEMANT NAVINCHANDRA SHAH S 874687 213
8 27/11/2015 532980 GOKUL SANGITA PARESHKUMAR VEDAWALA B 750000 17.9
9 27/11/2015 532980 GOKUL KAIZEN COMTRADE LLP S 750000 17.9
10 27/11/2015 530187 ATHARVENT VAIBHAV DAMODAR KHEDEKAR B 504500 3.82

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Research Team
Mr. Sumeet Bagadia Associate Director
Kunal Parmar Research Associate
Amit Pathania Research Associate
Vikas Chaudhari Research Associate
Kapil Shah Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
Morning Tea
30th Nov 2015
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