Pidilite Industries Ltd acquired 100% stake in Nebula East Africa Pvt Ltd, a Kenyan company. Technical analysis recommends buying Pidilite between 695-699 for a target of 713. IOC is likely to take a 37.5% stake in a joint venture to manage airport fuel facilities in India. Global markets turned positive after falling on uncertainty over the upcoming Brexit referendum, while the Indian market is also likely to see buying.

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Global View
India Update
Today’s Event/ Stock in News
Country’s one of the leading adhesive manufacturer Pidilite Industries Ltd on Thursday said that its two subsidiaries, Pidilite
International Pte Ltd and Pidilite Middle East Ltd, has acquired 100 per cent stake in Nebula East Africa Pvt Ltd (NEAPL), a
company incorporated in Kenya. “With this acquisition, the wholly owned subsidiaries of the company jointly hold 100 per cent of
the paid up share capital (which is Kenyan Shillings 100,000) equivalent to approx. USD 1000 in NEAPL,” it added.
Technical Outlook : On daily chart, stock has formed Hammer candlestick with the support of its 21 day moving average which is
placed at 690 level, which is a bullish setup and indicates that upside movement can be seen in next few trading session.
Moreover, stock has been trading with the support of its 690 level since last four trading days, which shows valid strength in the
stock. An hourly momentum indicator RSI reading is at 53.45 level with positive crossover, which point out for positive breath in
the stock. So for trading perspective, one could Buy in the range of 695-699 for Target of 713 with SL of 688.
PIDILITE
IOC
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Morning Tea
17th June 2016
Buy in the range of 412-415 for the Target of 424 with the SL of 407.80
Buy in the range of 695-699 for the Target of 713 with the SL of 688
Indian Oil Corp (IOC) is likely to take the largest 37.5% stake in the proposed joint venture to manage fuelling facilities at all
airports controlled by the Airports Authority of India (AAI), sources with direct knowledge of the matter said. Airports Authority
of India is likely to have a quarter stakes while Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) will have
18.75% each in the joint venture that has been negotiated for long with the AAI and Indian Oil locked in a keen contest for the
larger stake.
Technical Outlook : On daily chart, stock has been trading with its upward rising trend line and recently stock has given good
bounce back after taking support of this trend line, which indicates for good bounce back can be seen in next few trading session.
Moreover, stock has been trading above its 21 day moving average which is placed at 412.65 level, which shows that near term
trend is up. A momentum indicator RSI reading is at 54.45 level with rising trend line, which point out for positive breath in the
stock. So for trading perspective, one could Buy in the range of 412-415 for Target of 424 with SL of 407.80
Wall Street closed higher on Thursday as investors digested the implications of a British lawmaker's death on the country's
impending referendum on whether to leave the European Union. The benchmark S&P 500 index snapped a five-day losing streak,
after erasing sharp losses earlier in the session. A British Member of Parliament was shot dead in the street in northern England,
causing the temporary suspension of campaigning for next week's referendum on EU membership. The lawmaker, Jo Cox, had
been a vocal supporter of Britain remaining in the European Union. The Dow Jones industrial average rose 92.93 points, or 0.53
percent, to 17,733.1, the S&P 500 gained 6.49 points, or 0.31 percent, to 2,077.99 and the Nasdaq Composite added 9.98 points,
or 0.21 percent, to 4,844.92. Traders also said covering of short bets after several days of selling could be helping stock prices.
Indian market is likely to see some buying on Friday as global markets have turned positive. However, nervousness around UK's
upcoming June 23 referendum vote on its future within the European Union is still keeping investors on edge. The BSE Sensex
crashed more than 400 points intraday Thursday, tracking weakness in global peers due to uncertainty over Brexit and after the
Federal Reserve reduced US economic growth forecast. However, benchmarks recouped half of losses in last hour of trade on
short covering with the Nifty reclaiming 8100. Indices had gained over a percent in previous session. The 30-share BSE Sensex fell
200.88 points or 0.75 percent to 26525.46 and the 50-share NSE Nifty declined 65.85 points or 0.80 percent to 8140.75 while the
broader markets outperformed benchmarks. The BSE Midcap and Smallcap indices slipped 0.4-0.5 percent.

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Bulk Deal
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Security in Ban
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Sr. No. Deal Date Script Code Security Name Client Name Deal Type Quantity Price
1 16/06/2016 526987 URJAGLOBA SHREE BHUVANAKARAMTRADINVEST PVT LTD S 4390381 1.57
2 16/06/2016 526987 URJAGLOBA SHREE BHUVANAKARAMTRADINVEST PVT LTD B 2279450 1.56
3 16/06/2016 507490 RANASUG BP FINTRADE PRIVATE LIMITED B 1178216 11.95
4 16/06/2016 507490 RANASUG BP FINTRADE PRIVATE LIMITED S 1136215 11.95
5 16/06/2016 507490 RANASUG JMP SECURITIES PVT LTD B 961878 11.74
6 16/06/2016 507490 RANASUG JMP SECURITIES PVT LTD S 959344 11.94
7 16/06/2016 509053 BANASFN NIRAJ JAYANTILAL VORA S 820526 0.69
8 16/06/2016 509053 BANASFN PIYUSHKUMAR THUMMAR B 785000 0.69
9 16/06/2016 535466 SRL HIGHPOINT TRADING COMPANY PRIVATE LIMIT B 429600 30.02
10 16/06/2016 535466 SRL HEMCHAND JAIN S 288000 30.05
Corporate Action:
Union Bank of India; Annual General Meeting/ Dividend - Rs 1.95/- Per Share
Xchanging Solutions Limited; Annual General Meeting
Result Calendar:
ACIASIA
Corporate Action / Result Calendar
CANBK, JETAIRWAYS, JPASSOCIAT & RCOM

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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
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Kapil Shah
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Date: 2016.06.17 08:59:47 +05'30'