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SEBI Certified – Research Analyst www.choiceindia.com
Global View
India Update
Today’s Event/ Stock in News
Apollo Tyres plans to double the capacity at its Chennai plant at an investment of around Rs 2,700 crore as part of its vision of 'Building
Leadership in India by 2020', a top official said as per the PTI report. "We are ramping up production at Chennai facility from 6,000 units to
12,000units(perday)withinvestmentsofRs2,700crore.Itwillhappenin24months.WearebeginningtheexercisefromthisOctober,"Apollo
TyresPresident,AsiaPacific,MiddleEastandAfrica,SatishSharmatoldreporters.
TechnicalOutlook:Ondailychart,stockhasformedlongbullishcandlestickwithaboveaveragevolume,whichindicatesforaccentuatedbuying
activity that can lead the stock for further upside level. Moreover, stock has been trading above its 21 day moving average, which shows that
neartermtrendisupandstockcouldfurtheracceleratesitsupsidemovement.AmomentumindicatorRSIreadingisat73.28levelwithpositive
crossover which point out for positive breath in the stock. So for trading perspective, one could Buy in the range of 211-213 for Target of 218
withSLof208.50
APOLLOTYRE
RCOM
SEBI Registered – Research Analyst www.choicebroking.in * Please Refer Disclaimer on Website
Morning Tea
15th Sep 2016
Buy in range of 51-52 for Target of 55.50 with SL of 48
Buy in range of 211-213 for Target of 218 with SL of 208.50
RelianceCommunicationsagreedtomergeitswirelesstelecombusinesswithsmallerrivalAirceltocreatethe country's4th-biggestmobile
phone operator with asset base of more than Rs 65,000 crore, reported PTI. In the largest consolidation in the country's telecom sector,
RCom and Aircel's majority owner, Malaysia's Maxis Communications Berhad (MCB), announced signing of definitive documents for the
mergeroftheirIndianwirelessbusinesses.
Technical Outlook: On daily chart, stock has formed hammer candlestick which is a bullish reversal candle and indicates for upside
movement. Moreover, stock has managed to close above its 100 day moving average which is placed at 50.90 level which shows
thatstockcouldfurther acceleratesits upsidemovementfromthepresentlevel.Amomentumindicator RSI readingis at51.70level
with positive crossover, which point out for positive breath in the stock. So for trading perspective, one could Buy in range of 51-52
forTargetof55.50withSLof48
Asian stocks wavered on Thursday as investors grappled with the seemingly diminishing ability of major central banks to stimulate
growth, while a tumble in crude oil inflamed already heightened risk aversion. Global bond yields have risen in sympathy with
depressed sentiment, adding to nervousness over when the Federal Reserve might decide to raise rates. MSCI's broadest index of
Asia-Pacific shares outside Japan edged down 0.1 percent. Japan's Nikkei lost 0.6 percent and Australian stocks shed 0.1 percent.
South Korea's Kospi was little changed. The Indian equity market is expected to open gap down today tracking Asian indices. SGX
Niftyistradingat8751.50downby18points.
USstocksfellsharplyonTuesday,withenergysharesslammedbyloweroilpricesandfinancialsdroppingondiminishedprospectsof
a near-term rate hike. The selloff was broad, with all 10 major S&P 500 sectors in the red and every Dow Jones industrial average
component except Apple declining. The energy index's 2.86-percent slide led declines as oil prices tumbled as much as 3 percent
after both the IEA and OPEC said the global crude glut would persist. Three US Federal Reserve officials on Monday took a dovish
stance on interest rates, in contrast to more aggressive comments from other officials in the past two weeks. The Dow Jones
industrialaveragefell1.41percenttoendat18,066.75pointsandtheS&P500lost1.48percentto2,127.02.TheNasdaqComposite
dropped1.09percentto5,155.26.
SEBI Certified – Research Analyst www.choiceindia.comSEBI Certified – Research Analyst www.choiceindia.com
Morning Tea
15th Sep 2016
SEBI Registered – Research Analyst www.choicebroking.in * Please Refer Disclaimer on Website
ABM International Limited; Annual General Meeting/Dividend - Re 0.25 Per Share
Aries Agro Limited; Annual General Meeting/Dividend Rs 1.50 Per Share
Arrow Textiles Limited; Annual General Meeting/Dividend - Re 1/- Per Share
Bal Pharma Limited; Annual General Meeting/Dividend Re 1/- Per Share
Bhansali Engineering Polymers Limited; Annual General Meeting/ Dividend - Re 0.10/- Per Share
Bigbloc Construction Limited; Annual General Meeting/Dividend - Re 0.20 Per Share
BSL Limited; Annual General Meeting/ Dividend - Rs 1.20/- Per Share
Compuage Infocom Limited; Annual General Meeting/Dividend-Rs 2/- Per Share
Coral India Finance & Housing Limited; Annual General Meeting/Dividend-Re 1/- Per Share
Cox & Kings Limited; Annual General Meeting/ Dividend - Re 1/- Per Share
Crest Ventures Limited; Rights 1:2@Prem Rs 40
Ganesh Housing Corporation Limited; Dividend - Rs 2/- Per Share
Gitanjali Gems Limited; Dividend - Re 0.50 Per Share
Goldiam International Limited; Annual General Meeting/Dividend Re 0.50 Per Share
Hero MotoCorp Limited; Annual General Meeting/Dividend - Rs 32/- Per Share
The Hi-Tech Gears Limited; Dividend Rs 1.50 Per Share
Himadri Speciality Chemical Limited; Annual General Meeting And Dividend Re.0.05 Per Share
Indo Thai Securities Limited; Annual General Meeting/Dividend - Re 1/- Per Share
Jain Irrigation Systems Limited; Annual General Meeting/Dividend - Re 0.50 Per Share
Jain Irrigation Systems Limited; Annual General Meeting/Dividend - Re 0.50 Per Share
Madhucon Projects Limited; Annual General Meeting/Dividend Re 0.10 Per Share
Manaksia Steels Limited; Anuual General Meeting
Man Industries (India) Limited; Annual General Meeting/ Dividend - Rs 1.50/- Per Share
Mahanagar Gas Limited; Annual General Meeting / Dividend - Rs 10/- Per Share + Special Dividend - Rs 7.5/- Per
Share
MMTC Limited; Annual General Meeting/Dividend - Re 0.30 Per Share
Nahar Industrial Enterprises Limited; Dividend - Re 1/- Per Share
Nicco Corporation Limited; Annual General Meeting (Book Closure Dates Revised)
Indo-National Limited; Annual General Meeting/ Dividend -Rs 25/- Per Share
Nitin Spinners Limited; Annual General Meeting/Dividend - Re 1/- Per Share
Oil India Limited; Annual General Meeting/Dividend - Rs 8/- Per Share
Omkar Speciality Chemicals Limited; Annual General Meeting/ Dividend - Rs 1.50 Per Share
Orient Press Limited; Annual General Meeting/Dividend - Rs 1.25 Per Share
Precision Wires India Limited; Annual General Meeting/Dividend - Rs 1.25 Per Share
Rashtriya Chemicals and Fertilizers Limited; Annual General Meetingdividend - Rs 1.10 Per Share
Reliance Capital Limited; Annual General Meeting/Dividend - Rs 10/- Per Share
Reliance Infrastructure Limited; Annual General Meeting/Dividend - Rs 8.50 Per Share
Rico Auto Industries Limited; Annual General Meeting/Dividend - Re 0.10 Per Share
Ramkrishna Forgings Limited; Dividend - Rs 2/- Per Share
Rushil Decor Limited; Annual General Meeting/ Dividend- Re 0.50 Per Share
Sadbhav Engineering Limited; Annual General Meeting/Dividend - Re 0.70 Per Share
Solar Industries India Limited; Annual General Meeting (Book Closure Date Revised)
Talbros Automotive Components Limited; Annual General Meeting And Dividend Rs.1.50 Per Share
Tourism Finance Corporation of India Limited; Annual General Meeting/Dividend-Re 0.80 Per Share
Vidhi Dyestuffs Manufacturing Limited; Annual General Meeting/Final Dividend - Re 0.20 Per Share (Purpose
Revised)
Zen Technologies Limited; Annual General Meeting/Dividend - Re 0.10 Per Share
Zodiac JRD- MKJ Limited; Annual General Meeting/ Dividend - Re 0.50/- Per Share
Corporate Action / Result Calendar
SEBI Certified – Research Analyst www.choiceindia.comSEBI Certified – Research Analyst www.choiceindia.com
Morning Tea
15th Sep 2016
SEBI Registered – Research Analyst www.choicebroking.in * Please Refer Disclaimer on Website
Result Calendar:
BRAHMANAN
Corporate Action / Result Calendar
Bulk Deal
Security in Ban
Sr. No. Deal Date Script Code Security Name Client Name Deal Type Quantity Price
1 14/09/2016 526987 URJAGLOBA ADITYA VIKRAMAGARWAL (HUF) B 4000000 1.00
2 14/09/2016 526987 URJAGLOBA ADITYA VIKRAMAGARWAL S 3491337 0.92
3 14/09/2016 531337 IRISMEDIA LTS INVESTMENT FUND LTD B 900000 12.85
4 14/09/2016 531337 IRISMEDIA SEEMA AGGARWAL S 900000 12.85
5 14/09/2016 531467 ARNAVCORP AJIT KANTAK B 466725 3.12
6 14/09/2016 538715 DHABRIYA HEMFINLESE PVT LTD INVESTMENT A/C B 250000 60.20
7 14/09/2016 538715 DHABRIYA HEMCHAND JAIN S 202500 60.11
7 14/09/2016 526544 SCANPGEOM RAJESH CHANDUBHAI THAKKAR B 200000 21.20
7 14/09/2016 526544 SCANPGEOM KARNAVATI INFRASTRUCTURE PROJECTS LTD S 200000 21.20
7 14/09/2016 540080 NARAYANI NR DHAMI ENTERPRISE B 168000 33.87
DLF, HDIL, IBREALEST, JISLJALEQS, KSCL, & RCOM
SEBI Certified – Research Analyst www.choiceindia.com
Contact Us
www.choiceindia.com
www.choiceindia.comcustomercare@choiceindia.com
Disclaimer
This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial
instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in
any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but
Choice Broking or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the
information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast
future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations
issued by Choice Broking in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on
information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty and accepts no responsibility
or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without
notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended
purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may
be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is
strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current
performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee
against the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock /
Instrument (s): - No.
SEBI Certified – Research Analyst www.choiceindia.com
Research Team
Mr. Sumeet Bagadia Associate Director
Kkunal Parar Sr. Research Associate
Amit Pathania Research Associate
Vikas Chaudhari Research Associate
Kapil Shah Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
Morning Tea
15th Sep 2016
SEBI Registered – Research Analyst www.choicebroking.in * Please Refer Disclaimer on Website
Kunal Parmar
Digitally signed by Kunal Parmar
DN: cn=Kunal Parmar, o=Choice Equity
Broking Pvt Ltd., ou=Research Dept,
email=kunal.parmar@choiceindia.com, c=IN
Date: 2016.09.15 08:35:56 +05'30'

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APOLLO TYRES, RCOM STOCK IN FOCUS

  • 1. SEBI Certified – Research Analyst www.choiceindia.com Global View India Update Today’s Event/ Stock in News Apollo Tyres plans to double the capacity at its Chennai plant at an investment of around Rs 2,700 crore as part of its vision of 'Building Leadership in India by 2020', a top official said as per the PTI report. "We are ramping up production at Chennai facility from 6,000 units to 12,000units(perday)withinvestmentsofRs2,700crore.Itwillhappenin24months.WearebeginningtheexercisefromthisOctober,"Apollo TyresPresident,AsiaPacific,MiddleEastandAfrica,SatishSharmatoldreporters. TechnicalOutlook:Ondailychart,stockhasformedlongbullishcandlestickwithaboveaveragevolume,whichindicatesforaccentuatedbuying activity that can lead the stock for further upside level. Moreover, stock has been trading above its 21 day moving average, which shows that neartermtrendisupandstockcouldfurtheracceleratesitsupsidemovement.AmomentumindicatorRSIreadingisat73.28levelwithpositive crossover which point out for positive breath in the stock. So for trading perspective, one could Buy in the range of 211-213 for Target of 218 withSLof208.50 APOLLOTYRE RCOM SEBI Registered – Research Analyst www.choicebroking.in * Please Refer Disclaimer on Website Morning Tea 15th Sep 2016 Buy in range of 51-52 for Target of 55.50 with SL of 48 Buy in range of 211-213 for Target of 218 with SL of 208.50 RelianceCommunicationsagreedtomergeitswirelesstelecombusinesswithsmallerrivalAirceltocreatethe country's4th-biggestmobile phone operator with asset base of more than Rs 65,000 crore, reported PTI. In the largest consolidation in the country's telecom sector, RCom and Aircel's majority owner, Malaysia's Maxis Communications Berhad (MCB), announced signing of definitive documents for the mergeroftheirIndianwirelessbusinesses. Technical Outlook: On daily chart, stock has formed hammer candlestick which is a bullish reversal candle and indicates for upside movement. Moreover, stock has managed to close above its 100 day moving average which is placed at 50.90 level which shows thatstockcouldfurther acceleratesits upsidemovementfromthepresentlevel.Amomentumindicator RSI readingis at51.70level with positive crossover, which point out for positive breath in the stock. So for trading perspective, one could Buy in range of 51-52 forTargetof55.50withSLof48 Asian stocks wavered on Thursday as investors grappled with the seemingly diminishing ability of major central banks to stimulate growth, while a tumble in crude oil inflamed already heightened risk aversion. Global bond yields have risen in sympathy with depressed sentiment, adding to nervousness over when the Federal Reserve might decide to raise rates. MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent. Japan's Nikkei lost 0.6 percent and Australian stocks shed 0.1 percent. South Korea's Kospi was little changed. The Indian equity market is expected to open gap down today tracking Asian indices. SGX Niftyistradingat8751.50downby18points. USstocksfellsharplyonTuesday,withenergysharesslammedbyloweroilpricesandfinancialsdroppingondiminishedprospectsof a near-term rate hike. The selloff was broad, with all 10 major S&P 500 sectors in the red and every Dow Jones industrial average component except Apple declining. The energy index's 2.86-percent slide led declines as oil prices tumbled as much as 3 percent after both the IEA and OPEC said the global crude glut would persist. Three US Federal Reserve officials on Monday took a dovish stance on interest rates, in contrast to more aggressive comments from other officials in the past two weeks. The Dow Jones industrialaveragefell1.41percenttoendat18,066.75pointsandtheS&P500lost1.48percentto2,127.02.TheNasdaqComposite dropped1.09percentto5,155.26.
  • 2. SEBI Certified – Research Analyst www.choiceindia.comSEBI Certified – Research Analyst www.choiceindia.com Morning Tea 15th Sep 2016 SEBI Registered – Research Analyst www.choicebroking.in * Please Refer Disclaimer on Website ABM International Limited; Annual General Meeting/Dividend - Re 0.25 Per Share Aries Agro Limited; Annual General Meeting/Dividend Rs 1.50 Per Share Arrow Textiles Limited; Annual General Meeting/Dividend - Re 1/- Per Share Bal Pharma Limited; Annual General Meeting/Dividend Re 1/- Per Share Bhansali Engineering Polymers Limited; Annual General Meeting/ Dividend - Re 0.10/- Per Share Bigbloc Construction Limited; Annual General Meeting/Dividend - Re 0.20 Per Share BSL Limited; Annual General Meeting/ Dividend - Rs 1.20/- Per Share Compuage Infocom Limited; Annual General Meeting/Dividend-Rs 2/- Per Share Coral India Finance & Housing Limited; Annual General Meeting/Dividend-Re 1/- Per Share Cox & Kings Limited; Annual General Meeting/ Dividend - Re 1/- Per Share Crest Ventures Limited; Rights 1:2@Prem Rs 40 Ganesh Housing Corporation Limited; Dividend - Rs 2/- Per Share Gitanjali Gems Limited; Dividend - Re 0.50 Per Share Goldiam International Limited; Annual General Meeting/Dividend Re 0.50 Per Share Hero MotoCorp Limited; Annual General Meeting/Dividend - Rs 32/- Per Share The Hi-Tech Gears Limited; Dividend Rs 1.50 Per Share Himadri Speciality Chemical Limited; Annual General Meeting And Dividend Re.0.05 Per Share Indo Thai Securities Limited; Annual General Meeting/Dividend - Re 1/- Per Share Jain Irrigation Systems Limited; Annual General Meeting/Dividend - Re 0.50 Per Share Jain Irrigation Systems Limited; Annual General Meeting/Dividend - Re 0.50 Per Share Madhucon Projects Limited; Annual General Meeting/Dividend Re 0.10 Per Share Manaksia Steels Limited; Anuual General Meeting Man Industries (India) Limited; Annual General Meeting/ Dividend - Rs 1.50/- Per Share Mahanagar Gas Limited; Annual General Meeting / Dividend - Rs 10/- Per Share + Special Dividend - Rs 7.5/- Per Share MMTC Limited; Annual General Meeting/Dividend - Re 0.30 Per Share Nahar Industrial Enterprises Limited; Dividend - Re 1/- Per Share Nicco Corporation Limited; Annual General Meeting (Book Closure Dates Revised) Indo-National Limited; Annual General Meeting/ Dividend -Rs 25/- Per Share Nitin Spinners Limited; Annual General Meeting/Dividend - Re 1/- Per Share Oil India Limited; Annual General Meeting/Dividend - Rs 8/- Per Share Omkar Speciality Chemicals Limited; Annual General Meeting/ Dividend - Rs 1.50 Per Share Orient Press Limited; Annual General Meeting/Dividend - Rs 1.25 Per Share Precision Wires India Limited; Annual General Meeting/Dividend - Rs 1.25 Per Share Rashtriya Chemicals and Fertilizers Limited; Annual General Meetingdividend - Rs 1.10 Per Share Reliance Capital Limited; Annual General Meeting/Dividend - Rs 10/- Per Share Reliance Infrastructure Limited; Annual General Meeting/Dividend - Rs 8.50 Per Share Rico Auto Industries Limited; Annual General Meeting/Dividend - Re 0.10 Per Share Ramkrishna Forgings Limited; Dividend - Rs 2/- Per Share Rushil Decor Limited; Annual General Meeting/ Dividend- Re 0.50 Per Share Sadbhav Engineering Limited; Annual General Meeting/Dividend - Re 0.70 Per Share Solar Industries India Limited; Annual General Meeting (Book Closure Date Revised) Talbros Automotive Components Limited; Annual General Meeting And Dividend Rs.1.50 Per Share Tourism Finance Corporation of India Limited; Annual General Meeting/Dividend-Re 0.80 Per Share Vidhi Dyestuffs Manufacturing Limited; Annual General Meeting/Final Dividend - Re 0.20 Per Share (Purpose Revised) Zen Technologies Limited; Annual General Meeting/Dividend - Re 0.10 Per Share Zodiac JRD- MKJ Limited; Annual General Meeting/ Dividend - Re 0.50/- Per Share Corporate Action / Result Calendar
  • 3. SEBI Certified – Research Analyst www.choiceindia.comSEBI Certified – Research Analyst www.choiceindia.com Morning Tea 15th Sep 2016 SEBI Registered – Research Analyst www.choicebroking.in * Please Refer Disclaimer on Website Result Calendar: BRAHMANAN Corporate Action / Result Calendar Bulk Deal Security in Ban Sr. No. Deal Date Script Code Security Name Client Name Deal Type Quantity Price 1 14/09/2016 526987 URJAGLOBA ADITYA VIKRAMAGARWAL (HUF) B 4000000 1.00 2 14/09/2016 526987 URJAGLOBA ADITYA VIKRAMAGARWAL S 3491337 0.92 3 14/09/2016 531337 IRISMEDIA LTS INVESTMENT FUND LTD B 900000 12.85 4 14/09/2016 531337 IRISMEDIA SEEMA AGGARWAL S 900000 12.85 5 14/09/2016 531467 ARNAVCORP AJIT KANTAK B 466725 3.12 6 14/09/2016 538715 DHABRIYA HEMFINLESE PVT LTD INVESTMENT A/C B 250000 60.20 7 14/09/2016 538715 DHABRIYA HEMCHAND JAIN S 202500 60.11 7 14/09/2016 526544 SCANPGEOM RAJESH CHANDUBHAI THAKKAR B 200000 21.20 7 14/09/2016 526544 SCANPGEOM KARNAVATI INFRASTRUCTURE PROJECTS LTD S 200000 21.20 7 14/09/2016 540080 NARAYANI NR DHAMI ENTERPRISE B 168000 33.87 DLF, HDIL, IBREALEST, JISLJALEQS, KSCL, & RCOM
  • 4. SEBI Certified – Research Analyst www.choiceindia.com Contact Us www.choiceindia.com www.choiceindia.comcustomercare@choiceindia.com Disclaimer This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Choice Broking or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice Broking in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment. POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No. SEBI Certified – Research Analyst www.choiceindia.com Research Team Mr. Sumeet Bagadia Associate Director Kkunal Parar Sr. Research Associate Amit Pathania Research Associate Vikas Chaudhari Research Associate Kapil Shah Research Associate Rajnath Yadav Research Associate Satish Kumar Research Associate Morning Tea 15th Sep 2016 SEBI Registered – Research Analyst www.choicebroking.in * Please Refer Disclaimer on Website Kunal Parmar Digitally signed by Kunal Parmar DN: cn=Kunal Parmar, o=Choice Equity Broking Pvt Ltd., ou=Research Dept, email=kunal.parmar@choiceindia.com, c=IN Date: 2016.09.15 08:35:56 +05'30'