NIFTY FIFTY : - On last trading session of previous week, Nifty 50 opened at 9375, made an all-time high of 9377 and closed at 9285 after taking support of its weekly low of 9270. Profit booking has been observed at higher levels since the US Jobs report and French Elections result were due.
NIFTY FIFTY : - Last week Nifty showed profit booking as FII created sell position in the F&O. The Nifty Index made a high of 9699 and closed at 9575 after making a low of 9565. On Tuesday
27th June,the Nifty fell 142 points from day’s high. it opened at 9594, made a high of 9615 and closed
NIFTY FIFTY : - Indian shares hit new record highs in last week trading sessions, on hopes of good southwest monsoon rain, robust monthly sales figures from automakers and positive global cues
The Market has opened sharply higher on Monday with the Nifty raise more than 58 points or 0.7 per cent. Crude oil prices tumbled some 5 per cent early Monday after the failure of talks between the oil exporting countries in Doha shown result
in return of some risk off sentiment, impacted the market.
: The Market has opened in Green on Monday, The Nifty up by 8 point or
0.12 per cent at 8228 but below its crucial level of 8250. The US Job creation tumbled in
may, U
NIFTY FIFTY : -Nifty gave euphoric buying of 3.94% from its low of 7896 in last 4 days of trading session for the year 2016. Indian benchmark index Nifty is opened unchanged at 8175 and with major global markets
closed for the day. The Equity benchmark Nifty opened in a Positive note on Monday up by 25 points or 0.30
NIFTY FIFTY : - Indian Benchmark Index Nifty on Friday closed at 8898 after making low of 8860, the index made a high of 8907 after opening at 8884. From last 2 week Nifty Index fell almost 1.05% from high of 8993.
NIFTY FIFTY : - Equity benchmark Index Nifty traded in a very narrow range last week by making a high of 9654 and low of 9561, but Indian shares showed good strength. Among the sectors,
Financial Services and Auto were in top. Small Cap has given an upside movement of around 1% last
NIFTY FIFTY : - On last trading session of previous week, Nifty 50 opened at 9375, made an all-time high of 9377 and closed at 9285 after taking support of its weekly low of 9270. Profit booking has been observed at higher levels since the US Jobs report and French Elections result were due.
NIFTY FIFTY : - Last week Nifty showed profit booking as FII created sell position in the F&O. The Nifty Index made a high of 9699 and closed at 9575 after making a low of 9565. On Tuesday
27th June,the Nifty fell 142 points from day’s high. it opened at 9594, made a high of 9615 and closed
NIFTY FIFTY : - Indian shares hit new record highs in last week trading sessions, on hopes of good southwest monsoon rain, robust monthly sales figures from automakers and positive global cues
The Market has opened sharply higher on Monday with the Nifty raise more than 58 points or 0.7 per cent. Crude oil prices tumbled some 5 per cent early Monday after the failure of talks between the oil exporting countries in Doha shown result
in return of some risk off sentiment, impacted the market.
: The Market has opened in Green on Monday, The Nifty up by 8 point or
0.12 per cent at 8228 but below its crucial level of 8250. The US Job creation tumbled in
may, U
NIFTY FIFTY : -Nifty gave euphoric buying of 3.94% from its low of 7896 in last 4 days of trading session for the year 2016. Indian benchmark index Nifty is opened unchanged at 8175 and with major global markets
closed for the day. The Equity benchmark Nifty opened in a Positive note on Monday up by 25 points or 0.30
NIFTY FIFTY : - Indian Benchmark Index Nifty on Friday closed at 8898 after making low of 8860, the index made a high of 8907 after opening at 8884. From last 2 week Nifty Index fell almost 1.05% from high of 8993.
NIFTY FIFTY : - Equity benchmark Index Nifty traded in a very narrow range last week by making a high of 9654 and low of 9561, but Indian shares showed good strength. Among the sectors,
Financial Services and Auto were in top. Small Cap has given an upside movement of around 1% last
U.S. President Barack Obama on Friday rejected the proposed Keystone XL oil pipeline from Canada in a victory for vironmentalists who campaigned against the project for
more than seven years.
NIFTY FIFTY : - Last week Nifty made a new record high of 9367 the Index made a low of 9130 and closed at 9304. On Monday Benchmark index opened in a positive note up by 35 points or 0.37
per cent at 9339. most of the future listed stocks declared their Quarterly results better than
NIFTY FIFTY : - Last Week, The Nifty index opened at 9588 and closed at 9666 after making high of 9700. Top performing sectors for last week was FMCG-Food, Metals & Mining and Infra- Construction Engineering and Material
and Realty. Last Day, The Indian Benchmark Index Nifty made record high of 9782 and closed at 9771. Infra Power,
NIFTY FIFTY : - Indian Equity Benchmark Index Nifty 50 opened at 9159 on Friday Trading session. Nifty made a high of 9192 and closed at 9174, which was also its last day close. The Nifty
has started in a strong note on Monday trading session
The Market has started off week on a positive note, tracking global cues post US job data.The Nifty50 climbed 38 points to 7751 and 0.43 per cent. Asian market is also opened in a positive note tracking the US market on Monday.
The market has opened on a strong note Monday. The Nifty is up 51 points or 0.7 percent at 7561. Equity benchmarks remained strong in morning trade following positive global cues.
The Market has started flat on Tuesday but soon gained strenght. The Nifty hit 7500, up 16.55 points. Most Asian markets were trading lower , We have seen a big move in markets in a very short period of time. With some choppiness, and the kind of intraday pullbacks we have had in the past couple of days, there is a good chance that we will see higher levels. it is looking at rallies that possibly heading towards 7,680-7,700 level.
NIFTY FIFTY : - The Market opened gap up after an extended Weekend and Sustainedabove 8900 throughout the day’s trading Session. The 50 Shares Index Nifty 50 Opened
at 8852 up by 43 points or 0.48 per cent.
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The Market started off week on a flat-to-positive note. The Nifty
advanced 13 points to 7568 or 0.2 per cent. Asia Market were lower ahead of a series of market-moving economic data due this week.
NIFTY FIFTY : The Market has Opened in a Negative bias on Monday the 50 Share Index Nifty 50 opened 49 points below or 0.60 Percent of its last closing at 8039. The
Uncertainty over the Consequence of the Britain Exit referendum still hang over investors
The equity benchmark has opened in a Positive bias on Monday with 50Shares Nifty50 up 90 points or 1.05 per cent at 8413. The Nifty50 reclaimed its Crucial level of 8400 for the first time in last 10 Month.
The Market has opened Positive on Monday with Equity benchmark Nifty 50 was up 16 points or 0.18 percent at 8654 or above its crucial level 8650. The crucial Constitutional Amendments Goods and Services bill has passed by the Rajya
NIFTY FIFTY : - Equity Benchmark Index Nifty 50 opened on a Strong note on Monday trading Session up
by 107 point’s or 1.16 per cent from its last closing at 9225. Last Friday Nifty fell by 63 points to close Near
9197 level. This was the biggest fall in one day in recent past, As we all know that the Market can Not Run one
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CNX NIFTY - Markets recorded their weekly gain in this week, with the Nifty opening up for second week on Monday at 7869 after long time undervalued of index at 7750-7800. We witnessed a spirited recovery around
8000-8100 level helped by short covering as well as value buying.
The benchmark Nifty 50 opened on flat basis on Monday down by 2 points at 8670. On Monday the Nifty closed almost flat as inflation spike dashed
immediate October rate cut hopes by RBI, As we have seen the Nifty 50 remained
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NIFTY FIFTY : - Last week market remain highly volatile, the benchmark Index Nifty opened at 9756 and made low of 9752. The Nifty Index rallied 200 points to make a high of 9948, however could not able to
sustain the momentum and closed at 9837. This week market remained highly volatile, the benchmark Index
NIFTY FIFTY : - Last Week Nifty Index made an all time high of 9913 and closed at 9886. Infra Power and Banks were among the top sectors for the week. The Indian market rebounded from the day
U.S. President Barack Obama on Friday rejected the proposed Keystone XL oil pipeline from Canada in a victory for vironmentalists who campaigned against the project for
more than seven years.
NIFTY FIFTY : - Last week Nifty made a new record high of 9367 the Index made a low of 9130 and closed at 9304. On Monday Benchmark index opened in a positive note up by 35 points or 0.37
per cent at 9339. most of the future listed stocks declared their Quarterly results better than
NIFTY FIFTY : - Last Week, The Nifty index opened at 9588 and closed at 9666 after making high of 9700. Top performing sectors for last week was FMCG-Food, Metals & Mining and Infra- Construction Engineering and Material
and Realty. Last Day, The Indian Benchmark Index Nifty made record high of 9782 and closed at 9771. Infra Power,
NIFTY FIFTY : - Indian Equity Benchmark Index Nifty 50 opened at 9159 on Friday Trading session. Nifty made a high of 9192 and closed at 9174, which was also its last day close. The Nifty
has started in a strong note on Monday trading session
The Market has started off week on a positive note, tracking global cues post US job data.The Nifty50 climbed 38 points to 7751 and 0.43 per cent. Asian market is also opened in a positive note tracking the US market on Monday.
The market has opened on a strong note Monday. The Nifty is up 51 points or 0.7 percent at 7561. Equity benchmarks remained strong in morning trade following positive global cues.
The Market has started flat on Tuesday but soon gained strenght. The Nifty hit 7500, up 16.55 points. Most Asian markets were trading lower , We have seen a big move in markets in a very short period of time. With some choppiness, and the kind of intraday pullbacks we have had in the past couple of days, there is a good chance that we will see higher levels. it is looking at rallies that possibly heading towards 7,680-7,700 level.
NIFTY FIFTY : - The Market opened gap up after an extended Weekend and Sustainedabove 8900 throughout the day’s trading Session. The 50 Shares Index Nifty 50 Opened
at 8852 up by 43 points or 0.48 per cent.
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The Market started off week on a flat-to-positive note. The Nifty
advanced 13 points to 7568 or 0.2 per cent. Asia Market were lower ahead of a series of market-moving economic data due this week.
NIFTY FIFTY : The Market has Opened in a Negative bias on Monday the 50 Share Index Nifty 50 opened 49 points below or 0.60 Percent of its last closing at 8039. The
Uncertainty over the Consequence of the Britain Exit referendum still hang over investors
The equity benchmark has opened in a Positive bias on Monday with 50Shares Nifty50 up 90 points or 1.05 per cent at 8413. The Nifty50 reclaimed its Crucial level of 8400 for the first time in last 10 Month.
The Market has opened Positive on Monday with Equity benchmark Nifty 50 was up 16 points or 0.18 percent at 8654 or above its crucial level 8650. The crucial Constitutional Amendments Goods and Services bill has passed by the Rajya
NIFTY FIFTY : - Equity Benchmark Index Nifty 50 opened on a Strong note on Monday trading Session up
by 107 point’s or 1.16 per cent from its last closing at 9225. Last Friday Nifty fell by 63 points to close Near
9197 level. This was the biggest fall in one day in recent past, As we all know that the Market can Not Run one
EQUITY NEWS LETTER 15May2013 by The Equicom Financial Services pankhudi jain
One of the best resource to get market updates and movements is Equity newsletter, by this updates we can understand all the movements and and also predict the market directions. Equity newsletter prove itself the best factor which cause huge profit.
CNX NIFTY - Markets recorded their weekly gain in this week, with the Nifty opening up for second week on Monday at 7869 after long time undervalued of index at 7750-7800. We witnessed a spirited recovery around
8000-8100 level helped by short covering as well as value buying.
The benchmark Nifty 50 opened on flat basis on Monday down by 2 points at 8670. On Monday the Nifty closed almost flat as inflation spike dashed
immediate October rate cut hopes by RBI, As we have seen the Nifty 50 remained
Ways2Capital is a major investigating body in the world capital market. It analyses capital transactions and investment trends. We basically aim to guide and suggest the most beneficial deal for the traders and investors all over the universe, fluctuations in the capital market influence trade and investment and everything which involves money.
NIFTY FIFTY : - Last week market remain highly volatile, the benchmark Index Nifty opened at 9756 and made low of 9752. The Nifty Index rallied 200 points to make a high of 9948, however could not able to
sustain the momentum and closed at 9837. This week market remained highly volatile, the benchmark Index
NIFTY FIFTY : - Last Week Nifty Index made an all time high of 9913 and closed at 9886. Infra Power and Banks were among the top sectors for the week. The Indian market rebounded from the day
NIFTY FIFTY : - The Indian Benchmark Index, Nifty fell 2.12% for the week ended 11 Nov 2016. Volatility was the order of the week with the panic gap down low of 8076 being made on Wednesday on 9th Nov. Morning as it suffered from the double whammy
NIFTY FIFTY : - In the last two days of trading session of last week, FII’s have build short positions for 108617 contract in Options segment. In cash segment both FII’s and DII’s remain net seller for 102 crore in last
two trading sessions. Indian benchmark Index Nifty 50 erased early gains to end flat on Friday as Political
NIFTY FIFTY : - Last week, the Indian Benchmark Index Nifty made new record high of 9451, the index opened at 9311 and made low of 9298 and finally closed at 9401. On Monday Trading Session 50 shares index Nifty opened on a Strong note Up by 33 points or 0.35 per cent at 9433 & traded in a positive strong note in
NIFTY FIFTY : - Indian market showed huge buying on Friday, with a follow up rally in Midcaps and Small caps. The Indian benchmark Index Nifty on last Friday made fresh all-time highs. It settled at record
closing highs as well. The Index closed at 9595 and made a high of 9605. On Monday trading session the Nifty
Benchmark Index Nifty completed its weekly target of 8288 and made high of 8307. Nifty showed profit booking on last day of the week and was down by 0.36% on last Friday. On Friday, Nifty Spot
opened at 8283 and made a high of 8306, achieving its target of 8288. Nifty then corrected for the day to make a
A nervous Dalal Street dreads a selloff by FIIs on BJP's Bihar defeat - Bharatiya Janata Party (BJP)'s disappointing show in the Bihar elections may not go down well with investors in the near future.
NIFTY FIFTY : - NIFTY - Last Trading session of previous week Nifty 50 fell by 0.52%, the index opened at 9226 made high of 9246 and closed at 9151 after making low of 9145. As Government released Industrial
production data for the month of Feb at - 1.20% where expectation was 1.3% and January IIP Numbers were at
NIFTY FIFTY : - The benchmark Index Nifty closed at 8794 after making low of 8771 and a high of 8822 on Last Friday trading session. Nifty traded in a small range of 50 points throughout the day. The equity
benchmark Nifty opened in a positive note on Monday up by 26 points or 0.29 per cent at 8819. Indian
NIFTY FIFTY : - The Indian Benchmark Index Nifty closed in green after consecutive 4 days of negative close In last week. The Index moved up by 74 points and closed at 9852. Nifty opened at 9803 and made a low
of 9787. Metals & Minnig remained the top performing sector. Indian Benchmark Index Nifty gave a lackluster
NIFTY FIFTY : - Indian Bench Mark Index Nifty has given breakout of its weekly target 8598 and made a high of 8672 Last week Nifty closed at 8641 after making a low of 8327. The Nifty Index rallied by 3.5% in
last week. Bull has shown strong control on Indian Market on Friday,
NIFTY FIFTY : - The Equity benchmark Nifty50 has opened flat basis on Monday up by 1 point at 8667. Nifty had a luck-luster movement last week where it moved in a narrow band of 125 points.
NIFTY FIFTY : -Last week Equity benchmark Nifty traded volatile As the Index Nifty heavy weight stocks Announced it’s Quarter 4 Results, The Index opened at 9135 in positive note on
Monday trading session and made a high of 9225 and closed 9217 after making the low of
The Market has opened in a Negative bias on Monday with the Equity benchmark Nifty 50 was down 22 points or 0.25 percent at 8519. The Nifty 50 reversed a trend in Monday trade and surged nearly 100 points to hit a fresh 52 week high of 8641.
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Nifty futures/Bank Nifty futures market closed on 8465 / 18770 . According to technical analysis if Nifty futures
and Bank Nifty future moves up-word in tomorrow treading session then 8512 will be small resistance for Nifty
futures and at the same time 18856 will be small Resistance for Bank Nifty futures, if it break this level then then
Nifty futures can touch 8724 level and Bank Nifty futures can touch 19297 level in next few days.
NIFTY FIFTY : - The Equity benchmark Nifty 50 opened in a Negative bias on Monday down by 24 points or 0.26 per cent at 8807. Nifty was positive for the last week despite
Friday’s selling. The benchmark Nifty has a major Support of 8790 which the index is
NIFTY FIFTY : - The Equity benchmark Nifty 50 open in a Positive note on Monday up by 100 points or 1.17 per cent at 8533. Last week Indian benchmark Index Nifty fell 2.10
Percent. The Index opened at 8639 and closed at 8458 after making a low of 8425.
NIFTY FIFTY : - Indian Bench mark Index Nifty 50 closed at 8935 after making a high of 8978and a low of 8892 on last week, and opened on a positive note on Monday trading session at 9091 up by 157 points or 1.72 per cent.
Similar to Equity Research Report 19 June 2017 Ways2Capital (20)
Gold in the European market settled on Monday near the highest in a week sup-ported by the decline of the US dollar against a basket of currencies and thanks to this decline prices on
The Indian Equity market remained remained positive throughout last week as the indices posted a gain of 1.6 percent each largely supported by metal, auto, energy and infra stocks. The Nifty50 index managed to close above 11,000 for the first time since September 2018. Nifty gained 172 points in the truncated week ended March 8. On a weekly basis, the rupee rose over 1
Gold prices continued to fall on Monday dropping through the 1,290 level. The dol-lar continued to gain ground early despite the comment from President Trump that he does not want to see a stronger greenback. Late in the trading session the dollar
The Indian Equity market remained volatile in February weighed down by Indo-Pak tensions, US-China trade war concerns, rise in crude oil prices, concerns regarding lenders selling pledged shares, weak GDP data as well as mixed earnings from India Inc. The index was below its crucial psychological levels of 11000. The index fell down 0.36 percent in February. But in last week of
On Wednesday spot gold prices declined 0.13 percent to close at $1266.9 per ounce amid concerns about global economic growth and a partial U.S. government shut down although a rebound in investor risk appetite in the previous session lim-
After a weak start for a truncated week, the Indian indices recovered from the lows and ended with a percent gain. The Nifty was up 0.98 percent, or 105.9 points, to close at 10,859.9. Positive lead from Wall Street and rally in banking & financial stocks lifted investor sentiment. Ending the week with a Hammer candle implies further strength in the index in coming sessions. The
Gold traded on flat note on Friday after jumping more than 1 percent in the previ-ous session boosted by a crumbling dollar and as sliding stocks prompted an influx of safe haven bids after the U.S. Federal Reserve monetary policy stance aug-
Last week our Indian Equity market opened on a gap up not on Monday and continuing its previous week's momentum. It remained bullish till Thursdays session but Indian indices witnessed bloodbath in Friday trading session as Nifty closed 197 points lower at 10,754. Fears of a global slowdown spooked investors across the globe, including India on Friday. Global mar-
Gold prices steadied on Friday after slipping to a week low in the previous session supported by the uncertainty around the Federal Reserves next years policy out-look while the dollar strengthened on expectations of a rate hike next week.
Last week our Indian Equity market opened on a gap down not on Monday backed by most of the exit polls results indicating possible defeat of BJP in key states. It remained in pressure till 1st session of the Tuesday where after state assembly results came out in favor of congress. Which lifted the sentiments of the market and it recovered from lower levels and it remained
Gold traded firm near a five month peak hit early on Monday supported by a disap-pointing U.S. jobs data that fuelled speculation that the Federal Reserve may stop
Last week our Indian Equity market opened on negative note and remained bearish throughout the week. The December series kick-started on a volatile note with Nifty making swing high of 10,974 and a swing low of 10,611 to end the week with a loss of 1.4 percent. The IT sector outperformed while huge selling was seen in the pharma sector (mainly Sun Pharma), auto, metals,
Gold prices were steady early on Monday as the dollar weakened on U.S. China trade truce that revived investor demand for riskier assets. Spot gold inched up 0.1 percent to $1,222.97 per ounce at the time of writing. U.S. gold futures were up 0.2
The Nifty Bank index started the last week on positive note on Monday and extended its positive run in most of the trading session in the week . The Bank Nifty ended the November F&O expiry on an optimistic note and well above the previous hurdle of 26,400 to give index closing at 26,914 on positive note on weekly basis with gain of 3.50%. Participation was seen
Gold prices traded on flat note on Thursday after rising to a two week high in the previous session as the dollar slipped with uncertainty on the pace of interest rate hikes by the U.S. Federal Reserve also supporting the metal. Spot gold traded at
Last week our Indian Equity market opened on a gap up note but Nifty failed to hold on to its important resistance levels of 10700 and saw a sharp correction in the last 3 trading session that dragged the index below 10,550. The Nifty index closed at the week’s low level of 10,511 down by almost 1.46 %. Broad-based selling was seen in cement, pharma, technology and metal
Gold prices rose on Friday as investors sought safe haven assets amid fears of a chaotic departure for Britain from the European Union. Spot gold was up 0.2 per-
The Indian Equity market, which remained range-bound for first 3-4 session of the week showed some strength in Friday's trading session to ended the week on a positive note. The Nifty closed close to 0.90 percent higher week on week amid a mixed set of results from India Inc, some appreciation in the rupee, weakening crude oil prices and
Gold prices were steady on Monday having dipped to a one month low in the previ-ous session after the U.S. dollar firmed on the Federal Reserves plans to gradually keep tightening borrowing costs.
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2. TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Indian benchmark Index Nifty opened at 9647 on Monday trading session and closed at
9616 after making a low of 9599. The Index started the week on a negative note, as investors seemed
Unenthusiastic by the revised rates on 66 items by the GST Council in its 16th meeting on Sunday and await
the macroeconomic data to be released later. Next meeting will be held on 18th June 2017. Market reacted to
the macroeconomic data i.e. IIP and CPI inflation data released on Monday. The benchmark index Nifty
recovered from its low of 9608 on Friday and closed at 9668 after making a high of 9676. Last week Nifty
make new record high of 9709. benchmark Index Nifty opened at 9616 on Tuesday trading session and closed
at 9607 after making a low of 9595. The Index started the week on a negative note, as investors were Cautious
Ahead of FOMC meeting. Indian market may react to the high probable GST disruptions as the nation may not
be yet fully prepared for a GST roll out in its present complex form. Also, invocation of IBC act by the
RBI/Banks may be negative for the banks in the short term, as they have to take large hair cuts for some
unviable projects. On Wednesday trading session the Indian benchmark Index Nifty opened at 9622 and closed
at 9618 after making a low of 9580. The Index recovered by 38 points from its day low in the second half of
trading session. As of now we do expect that RBI may be constrained to be neutral in order to keep the policy
parity with a hawkish Fed despite room for rate cut. All eyes may be also on the GST and PSBS consolidation
& NPA resolution. Time and Price action Suggest that the Nifty need to Sustain over 9580-9600 for further
move toward 9740-9768 levels. On the Flip side Sustaining below 9540-9500 may drag the index toward
9480-9420 level in next week trading session.
BANK NIFTY : - The Banking Shares Index Bank Nifty opened at 23610 and closed at 23470 after making
a low of 23442 on Monday trading session. Bank Nifty also made a new record high of 23708 in last week
trading sessions and closed at 23691. The Index opened at 23555 on Wednesday trading session, and closed at
23499 after making a low of 23399. PSU Bank stocks surged in the second half of the Yesterday’s trading
session. Allahabad Bank was the top gainer in the Nifty PSU Bank Index, it closed higher by around 7.38% at
Rs. 72 per share. In a most recent development regarding decision of Non-Performing Assets, the Reserve
Bank of India has recognized 12 bad accounts for instant resolution under the Insolvency and Bankruptcy
Code. RBI did not disclose the names of bad accounts. The Internal Advisory Committee noted that under the
recommended criterion, 12 accounts totalling about 25% of the current gross NPAs of the banking system
would qualify for immediate reference under IBC. The Time and Price action Suggest that the Bank Nifty to
Sustain over 23400 level for further up move toward 23536-23655 level on the flip side sustaining below
23400 may drag the index toward 23308-23237 level in next week trading sessions.
Monday, 19 June 2017
4. PATTERN FORMATION ( NIFTY )
Detail of Chart - On the Above given daily chart of Equity index Nifty price seems to take a
pause inside the breakdown zone before a swinging move. On Analysis of the Movement of Nifty
50 price in Different time zone which constructed. Bollinger Band is an Advance indicator of a
Break down ahead . The Nifty is facing the Stiff Resistance at the Current level, If it tries to a
little further Up move. The Nifty to Take Strong Resistance at 9468-9526, And Strong Support is
9398-9319 levels.
5. PATTERN FORMATION ( BANK NIFTY )
Detail of Chart -On the Above given daily chart of Equity index Bank Nifty price seems to take
a pause inside the breakdown zone before a swinging move. On analysis of the movement of
Bank Nifty futures in the same charts on June 10th, 2017, We find the Bank Nifty futures price
seems ready to take a sudden downward move with or without any excuse. Our aim is not to
create panic among the traders; The Strong Resistance for Bank Nifty is at 23560-23692 and
Strong Support for Index is at 23410-23356 Levels.
9. NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Loan waiver to hurt credit discipline, impact fiscal, says experts - The loan waiver of Rs. 30,000
crore will affect the state fiscal and ‘impact the credit discipline’ among borrowers, according to
experts. Eleven days after farmers protest, the Maharashtra government has announced a farm
loan waiver for small and marginal farmers on Sunday. According to India Rating report, the
impact of the waiver will be felt over a period of time, although it will push up states' fiscal
deficit to 2.71 per cent as against 1.53 per cent budgeted for the fiscal year 2017-18. Maharashtra
is the second BJP government governed state after Uttar Pradesh to have announced a farm loan
waiver. Soon after BJP won an election in UP, the state government had announced a farm loan
waiver of Rs 36,359 crore. A day after UP government had announced a waiver, governor of the
Reserve Bank of India Urjit Patel, had denounced it. “I think it undermines an honest credit
culture. It impacts credit discipline. In other words, waivers are in general more of hazard,” he
had said speaking to media. “Waivers are in general more of hazard. It also entails at the end of
the day transfer from taxpayers to borrowers,” he added.
In a first, India to put dedicated cell to promote Russian investments - India for the first time
will put in place a dedicated cell to promote Russian investments in the country to take forward St
Petersburg vision statement that seeks to open new vistas of economic engagement. The idea to
create this cell was mooted by PM Narendra Modi when he met CEOs of India and Russia in
presence of President Vladimir Putin on June 1 after the annual summit in St Petersburg. The cell
which will report to the Prime Minister’s Office will assist Russian businessmen to plan, execute,
form joint ventures and search locations for their investments. The entire process hopes to cut the
alleged role of middlemen who in the past were matchmakers. This dedicated cell will function
under ‘Invest India’ – investment wing of the Indian government – which was part of the June 1
CEO forum as well as St Petersburg International Economic Forum where Modi was the Guest of
Honour. “This cell will be key to push Russian investments in India in non-traditional sectors
with Delhi and Moscow aiming to give economic heft to the bilateral strategic partnership,”
Invest India MD & CEO Deepak Bagla who was part of India-Russian Joint CEO Forum told
ET.
CAD soars to $ 3.4 b or 0.6% as imports jump in Q4 - India’s external sector balance sheet
remained in the comfort zone of less than 2% of GDP during the quarter ended March’17, despite
a higher merchandise import bill and almost flat growth in services income as both software
10. services income as well as remittances by the overseas Indians were at the same level as previous
year. Strong FDI as well as portfolio flows resulted in a sharp rise in capital account flows,
putting the overall balance of payments in a higher surplus. Current account deficit , excess of
countries imports over exports expanded marginally to $ 3.4 billion (0.6 per cent of GDP) in the
fourth quarter of FY’17, according to the preliminary figures released by the Reserve Bank of
India. It was higher than $ 0.3 billion (0.1 per cent of GDP) in Q4,FY’16 but narrowed from $ 8.0
billion (1.4 per cent of GDP) in the preceding quarter.
India's industrial output up 3.1 per cent y/y in April - Industrial production growth slipped to 3.1
per cent in April due to poor show by manufacturing, mining and power sectors coupled with
lower offtake of capital goods and consumer durables. The factory output measured in terms of
the index of industrial production had expanded by 6.5 per cent in April last year, the data
released by the Central Statistics Office showed. The CSO also revised upwards the IIP growth
figure for March to 3.75 per cent from provisional estimate of 2.7 per cent released last month.
According to the CSO data, manufacturing sector, which constitutes 77.63 per cent of the index,
grew at 2.6 per cent in April compared to 5.5 per cent in same month last year. Similarly, mining
sector output grew at 4.2 per cent in the month under review compared to 6.7 year ago. Power
generation rose by 5.4 per cent in April, down from 14.4 per cent expansion in April last year. The
output of capital goods, which are the barometer of investment in the country, contracted by 1.3
per cent in April compared to growth of 8.1 per cent a year ago.
May inflation at 5-year low, raises rate cut hopes - Consumer inflation fell to its lowest in at
least five years in May because of softer food prices, raising hopes the RBI may cut rates to boost
the struggling industrial sector. Retail inflation declined to 2.1% in May from 2.99% in April,
according to data released by the statistics office on Monday. Separately released numbers
showed industrial growth at 3.1% in April, below the upwardly revised 3.8% figure for
March. May's retail inflation is the lowest since the government began issuing data based on the
Consumer Price Index in 2012. "We expect only a 25 basis point cut in October 2017," CARE
Ratings chief economist Madan Sabnavis said, adding that the impact of the goods and services
tax, set to be rolled out on July 1, needed to be watched. One basis point is 0.01 percentage point.
Retail inflation is near the lower end of the 2.0-3.5% range forecast by the RBI in the first half of
the year. The central bank did not cut rates in its policy review last week, but adopted a less
hawkish stance even as it saw inflation picking to 3.5-4.5% cent in the second half of FY18.
HSBC sees India growth unchanged at 7.1% this fiscal - India's growth is likely to remain
unchanged at 7.1 per cent this fiscal, as investments are low and government spending may not
remain high given the fiscal consolidation path the country is treading, says a report. "Growth
numbers were marked down marginally but still remain higher than ours," HSBC said in a
11. research note. It said "we have a below-consensus view that growth will be flat at 7.1 per cent in
2017-18". acording to the global financial services major HSBC, output gap in the country is
likely to remain negative for longer period of time. In its policy review meet yesterday, the central
bank also lowered its growth forecast to 7.3 per cent, from 7.4 per cent earlier. The report said
that investment still remained low in the country, while urban wages are growing but at
multi-year lows. Moreover, government spending may not remain as high given the fiscal
consolidation path, and the rise in exports over the last few months are showing some signs of
moderation. HSBC said though "rural growth could come in high if rains are strong, but that
would just about offset the weakness from other sectors. This means that the output gap is likely
to remain Negative for longer.
GST rollout preparations take off on war footing - With the rollout of the goods and services tax
about two weeks away, the government machinery is stepping up preparatory efforts. The Central
Board of Excise and Customs has written to field officials to be GST ready and ensure a smooth
transition to the game-changing tax reform when it’s rolled out on July 1. In a communication to
field formations sent on June 12, CBEC chairman Vanaja Sarna has listed a number of action
points that include assisting businesses to migrate to the new regime. The note follows a detailed
stocktaking meeting on GST preparedness by Prime Minister Narendra Modi last week. “GST
Suvidha Kendras should be a one-stop solution for taxpayers seeking advice/information on GST,
including assistance in real-time registration, payment,” Sarna said in the letter.
Trade gap widens to 30-month high in May - Slower growth in exports and sharper rise in
imports led by gold and silver made India’s trade deficit balloon to a 30-month high in May.
Imports grew 33% from a year ago to $ 37.8 billion, buoyed by a 236% rise in gold imports at $
4.9 billion. Exports increased the slowest in eight months at 8.3% to $ 24 billion, widening the
trade deficit to $ 13.84 billion from $ 6.2 billion in the year ago period. Half of the upsurge in
merchandise imports was led by precious metals and stones, which is likely to be on account of
restocking after the festive and marriage season, and prior to Goods and Services Tax,” said Aditi
Nayar, principal economist at ICRA, Gold, silver and precious and semi-precious stones
recorded a growth of 128% in May. “The continued growth in imports of pulses despite the
record harvest and decline in prices is somewhat surprising,” Nayar said.
✍ TOP ECONOMY NEWS
Rising instances of farm loan waivers in many states which are facing elections in the next couple
years may affect credit discipline of rural borrowers, a development that weighed on the stocks of
NBFCs such as Mahindra and Mahindra Financial Services, Shriram Transport Finance and
micro finance players such as Bharat Financial Inclusion in the last two trading sessions.
12. Amid the rash of loan waivers, Japanese brokerage Nomura Estimated over 65 per cent of the
total Rs 9.50 lakh crore of agri debt may potentially get written-off. "We estimate that 2/3rd of
the agri debt of Rs 9.5 lakh crore is in states where a debt waiver has been announced or
promised, or in states that will go to the polls in the next two years," it said in a note.
Analysts grew more confident of a rate cut by Reserve Bank of India at the August review, after
the headline inflation dipped to a decade low of 2.18 per cent for May. SBI's economic research
department said the RBI cannot "avert a rate cut" at the August policy review. "The expectation of
a prominent rate cut would become more pronounced if inflation continues to remain benign for a
longer time," it said in a note.
Tax officials are combing the list of redeemed fixed deposits and large personal loans at some
cooperative banks and non-banking finance companies on suspicions of money laundering after
last year’s overnight currency swap, according to two people close to the probes. They believe
officials at these lenders and NBFCs may have worked with some individuals to exchange
unaccounted old currency notes after India banned Rs 500 and Rs 1,000 bills on November 8.
India's forex reserves surged by $ 2.404 billion to reach life-time high of $ 381.167 billion in the
week to June 2 on account of rise in foreign currency assets, the Reserve Bank of India said. In
the previous week, the reserves had declined by $ 547 million to $ 378.763 billion. Foreign
currency assets, a major component of overall reserves, increased by $ 2.748 billion to $ 357.290
billion in the reporting week, RBI said.
India's wholesale inflation eased to a five-month low in May, boosting hopes of interest rate cuts
as consumer price inflation has fallen to a five-year low. Inflation as measured by wholesale price
index eased to 2.17% in May after hitting 3.85% in April, data released by the commerce and
industry ministry showed on Wednesday. Data released last week showed that inflation measured
by consumer price index for May stood at 2.18%, its lowest since 2012.
Falling food inflation is expected to pull June CPI inflation to the sub-2 per cent level and may
prompt the Reserve Bank to go in for a 25 bps rate cut in its policy review in August, says a
report. "We have grown more confident of our call for a 25 bps RBI rate cut on August 2 with
CPI inflation falling to 2.2 per cent in May from 3 per cent in April," Bank of America Merrill
Lynch said in a note.
India's core consumer price inflation, which excludes food and energy prices, eased to around 4.2
percent in May from around 4.4-4.5 percent in April, according to estimates from three analysts.
13. Indian companies are preparing to shift overseas investment companies from tax havens such as
Mauritius after about 100 countries, including India, agreed to adopt a common tax treaty curbing
loopholes frequently used by multinationals to avoid taxes. The base erosion and profit shifting
framework is aimed at providing uniform tax regulations for all investors, irrespective of which
destination they come from and where they invest.
As India's industrial output growth slipped to 3.1 per cent in April, the industry reiterated its
demand for an interest rate cut by the RBI, saying it was imperative to boost growth and
consumer demand. Industry body Assocham said the Reserve Bank's status quo on rates has
disappointed the industry as there was a room for reduction in key policy rate.
India's annual consumer price inflation eased further to 2.18 percent in May, driven down by
cooling food prices, government data showed on Monday. The rise was lower than the 2.60
percent forecast by economists in a Reuters poll, and was the lowest since India started publishing
an economy-wide consumer price index in 2012. Consumer prices rose 2.99 percent on year in
April.
The Union government is seeking industry feedback on how to readjust the duty drawbacks in
the new Goods and Services Tax regime. "It will change. Sought views of the industry as state
levies are subsumed in GST," Union Textiles Joint secretary Subrata Gupta said when asked
whether the Rebate of State Levies on Export of Garments scheme will continue in the present
form during GST regime.
✍ TOP CORPORATE NEWS -
Lupin Limited has launched the generic Wellbutrin XL tablets in the United States, the company
informed the bourses. Wellbutrin XL is used to treat major depressive disorder in adults and has
US sales of $ 758 million, till May 2017, as per data available by IMS.
Wipro Limited rallied almost 1.5% as it won an IT applications managed services contract from
the Finnish Company, Valmet, during Thursday’s trading session.Valmet is a global developer and
supplier of technologies, automation and services for pulp, paper and energy industries.As part of
the multi-year contract, Wipro will provide maintenance and support for the new ERP platform in
geographies in which Vamlet operates. It will also provide support for end-to-end testing
activities around the implementation and rollout of the new ERP platform.
Aarti Industries Limited signed Rs. 4,000 crore multi-year deal with a global agriculture
company to supply a high-value agrochemical intermediary, the company informed the bourses
14. on Thursday. The contract entails supply of a high-value agrochemical intermediary, for use in
herbicides, over a 10-year period. AIL will invest about Rs. 400 crore in the project, according to
a exchange filing.
Cadila Healthcare Limited announced that Zydus Cadila has received final approval from the
U.S FDA to market Acyclovir for injection USP in the strengths of 500 mg/vial and 1000 mg/vial.
Acyclovir for Injection USP, which caters to the anti-viral segment will be produced at the
group’s formulations manufacturing facility at Moraiya, Ahemdabad.
Wockhardt Limited has received tentative approval from the U.S FDA for Bendamustine
Hydrochloride injection, which is used in chemotherapy, reported a leading news agency. The
stock was trading higher by 2.9% at Rs 643.25 per share at 0929 hours IST on BSE. It hit a high
of Rs 644.80 and a low of Rs 630.70 in the morning session.
NTPC Limited, a state-owned company engaged in generation of electricity, has awarded Mine
Developer-cum-Operator contract for the company Dulanga coal mine in Odisha. The contract is
part of the company's plan to produce 3 million tonnes of the dry fuel in FY18. During the last
fiscal, the power giant has debute into coal mining.
Alkem Labs, a multinational pharma company, on Thursday received the U.S FDA approval for
Itraconazole capsules. The capsules are used to treat fungal infections. Itraconazole capsules are
used to treat fungal infections in the lungs that can spread throughout the body. They are also
used to treat fungal infections of the fingernails and toenails, etc.
Gujarat Pipavav Port surged more than 8% in Wednesday’s trading session. The stock was
trading higher by 8.2% at Rs 147.95 per share at 1516 hours. The company’s 16.7 lakh shares
traded in a block deal on NSE at 142.10 per share. The stock has underperformed both BSE
Mid-cap and Nifty Services Sector index over a period of one year. The free-float market
capitalisation of the company is Rs 3,765.54 crore.
Inox Wind informed the bourses that CRISIL Limited has reaffirmed the ‘CRISIL AA-' rating
for the company's Long-Term Bank Facilities and ‘CRISIL A1+' rating for Short Term Bank
Facilities. CRISIL’s AA rating for long-term instruments is the second highest rating for
long-term facilities and reflects high degree of safety regarding timely servicing of financial
obligations and very low credit risk.
Ashok Leyland, an automobile manufacturing company, on Tuesday announced that under the
scheme of amalgamation of Hinduja Foundries with Ashok Leyland, the company has allotted
15. 806,58,292 equity share of face value Rs 1 each, fully paid-up to the equity shareholder of
Hinduja Foundries as on record date of June 7 2017.
Dr. Reddy’s Laboratories on Tuesday informed the bourses that its API manufacturing facility at
Miryalaguda has received an Establishment Inspection Report (EIR) from the US FDA after the
closure of audit. The stock is trading higher by 1.2% at Rs 2,661.50 per share at 1007 hours IST
on BSE. It hit a high of Rs 2,681 and a low of Rs 2,647 during the morning session. The market
capitalisation of the company is Rs 44,724.48 crore.
Tata Motor Limited Committee of the Board to meet next week to consider raising Rs 500 crore
through non-convertible debentures. The 1company is willing to offer the eighth series of its
rated, listed, unsecured, redeemable NCDs, aggregating to Rs 500 crore.
India’s leading two-wheeler maker, Hero MotoCorp plans to invest around Rs 2,500 crore in the
next two financial years up to 2018-19, a leading news agency reported. The investment will be
utilised for digitisation, products development, phase-wise capacity installation and in brown and
greenfield expansion. The company is driving toward 100 million in sales and has crossed 70
million, a leading news agency reported.
The board of state-owned Canara Bank approved plans to raise a sum of Rs 6,300 crore,
including Rs 3,500 crore in equity capital. The funds will be utilised to meet the growing business
and regulatory requirements.
✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK
State-owned lenders Bank of Maharashtra and Corporation Bank have slashed their MCLR
rates in the range of 0.05 to 0.35 per cent. Bank of Maharashtra has slashed its marginal cost of
funds based lending rates by up to 0.35 per cent with effect from June 7, 2017," it said in a
release.
Public sector Central Bank of India has been placed under the RBI's watchlist on Prompt
Corrective Action owing to high bad loans and negative return on assets. IDBI Bank, Indian
Overseas Bank, UCO Bank and Dena Bank have already come under the PCA initiated by the
Reserve Bank of India, which is a noose-tightening on fresh loan disbursal as well as dividend
distribution. Reserve Bank of India, vide its letter dated June 13, 2017, has put the bank under
Prompt Corrective Action in view of high NPA and negative return on assets ," Central Bank of
16. India said in a regulatory filing today.
As part of their turnaround strategy, IDBI Bank has announced formation of a separate vertical
having around 100 dedicated staff to recover their mounting Non Performing Assets, which now
stand at around Rs. 45,500 crores. Apart from creating this NPA recovery vertical, the bank
management has formed a 'Credit Monitoring Group' to find out potential NPAs based on early
warning signals, said Deputy Managing Director of IDBI Bank, G M Yadwadkar.
State Bank of India said its paid up capital has increased to Rs. 863 crore following the Rs.
15,000 crore share sale through qualified institutional placement route. "Pursuant to the allotment
of equity shares in the issue, the paid up equity share capital of the bank stands increased from Rs
810 crore to Rs 863 crore," SBI said in a regulatory filing to stock exchanges.
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