ITC will invest Rs 4,000 crore over the next 2-3 years to set up 8-9 new food processing factories across India. ITC's food business grew 11% last year and is the company's second largest segment after cigarettes. The company is looking to tap growing demand from health conscious consumers by expanding its new biscuit line. Separately, DLF's promoters will inject Rs 10,000 crore into the real estate developer by selling their stake in DLF's rental business for Rs 12,000-13,000 crore and using the funds to repay debt.

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Global View
India Update
Today’s Event/ Stock in News
ITC will invest Rs 4,000 crore over the next 2-3 years to set up 8-9 factories across the country for manufacturing of food
products. ITC's branded packaged foods division grew by around 11 per cent to clock a turnover of Rs 7,097.49 crore in 2015-16.
Food is the second largest business for ITC after cigarettes. The company, which recently expanded its new Sunfeast Farmlite
biscuits portfolio catering to health conscious consumers, is looking at tapping this fast growing consumer segment.
Technical Outlook: On daily chart, stock has given positive breakout of its range bound move in which it had been trading for
more than a month. Moreover, stock has been continuously trading with good support of its 21 day moving average which is
placed at 357.20 level, which shows that near term trend is up and stock could further accelerate its upside movement from the
present level. A momentum indicator RSI’s reading is at 62.39 level with positive crossover, even it has given breakout of its
downward falling channel, which point out for positive breath in the stock. So for trading perspective, one could Buy in the range
of 366-368 for Target of 375.50 with SL of 362.30
ITC
DLF
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Morning Tea
29th June 2016
Buy in the range of 133 -131 for the Target of 137 with the SL of 129
Buy in the range of 366-368 for the Target of 375.5 with the SL of 362.30
Billionaire KP Singh and his family have decided to wipe out DLF Ltd's debt in a two-step transaction. They will pump Rs 10,000
crore into India's largest real estate developer by purchasing shares in a preferential issue with funds raised from the sale of their
stake in the company's rental unit. The Singh family plans to sell its 40% stake in DLF Cyber City Developers Ltd.(DCCDL) for Rs
12,000-13,000 crore and will use the money to retire the parent company's debt. Separately, DLF will raise about Rs 3,000 crore
from institutional investors to ensure that the stake of the promoters doesn't breach the 75% threshold with the purchase of the
preferential shares, said two people familiar with the development.
Technical Outlook: Recently Stock has breached its 120 to 130 consolidation phase on higher side, for further confirmation it had
retested it consolidation phase and showcase its strength. Few days back we have seen Hammer pattern which shows buying at
lower level. Stock is operating above its 21 day short term moving average to 250 day long term moving average. So, one can
create long position for intraday perspective in the range of 133 to 131 with SL of 129 for the target of 137.
Currency and equity markets are stabilising as Brexit fears subside. The Nifty has recovered 20 percent of what it lost on the day
UK voted to exit the European Union. Indian market is likely to be positive on Wednesday as Asia markets opened higher
following gains across US and Europe. However, few investors may be also on edge ahead of June Futures and Options (F&O)
expiry tomorrow. Foreign institutional investors (FIIs) have been selling for last three consecutive sessions. FIIs have sold Rs 965
crore in cash in the last three days. FIIs sold Rs 190 crore while domestic institutional investors (DIIs) have net sold Rs 243 crore
in cash market yesterday. On Tuesday the 30-share BSE Sensex gained 121.59 points at 26524.55 and the 50-share NSE Nifty was
up 33.15 points at 8127.85.
Wall Street bounced back on Tuesday, recouping some recent losses, as investors sought cheap assets after a two-day equities
rout sparked by Britain's decision to leave the European Union. US indexes joined stock markets around the world in the rebound
after global equity markets had shed USD 3 trillion in value in the two days following Britain's shock vote, according to S&P Dow
Jones Indices. Investors also pointed to solid US economic data as helping to stabilize stocks. Financials and tech stocks, hit hard in
the wake of the referendum, were among the top gaining sectors on Tuesday. The Dow Jones industrial average .DJI rose 269.48
points, or 1.57 percent, to 17,409.72, the S&P 500 .SPX gained 35.55 points, or 1.78 percent, to 2,036.09 and the Nasdaq
Composite .IXIC added 97.42 points, or 2.12 percent, to 4,691.87.

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Bulk Deal
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Morning Tea
29th June 2016
Security in Ban
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Sr. No. Deal Date Script Code Security Name Client Name Deal Type Quantity Price
1 28/06/2016 534741 VIRTUALG SHREE BHUVANAKARAMTRADINVEST PVT LTD S 5060633 4.11
2 28/06/2016 534741 VIRTUALG SHREE SUPRINIT TRADINVEST PRIVATE LIMITED B 3500000 3.97
3 28/06/2016 534741 VIRTUALG SHREE BHUVANAKARAMTRADINVEST PVT LTD B 2188516 4.02
4 28/06/2016 532689 PVR MERRILL LYNCH CAPITAL MARKETS ESPANA SA S 250000 953.00
5 28/06/2016 532689 PVR MERRILL LYNCH MARKETS SINGAPORE PTE. LTD B 250000 953.00
6 28/06/2016 524622 ISTRNETWK PRADEEP MALU S 240700 19.61
7 28/06/2016 526735 EXCAST SUNIL JAYANTILAL BHATT B 210901 6.41
8 28/06/2016 533163 ARSSINFRA WAY2WEALTH SECURITIES P LTD S 168353 78.02
9 28/06/2016 533163 ARSSINFRA WAY2WEALTH SECURITIES P LTD B 168353 77.87
10 28/06/2016 533163 ARSSINFRA CHETAN RASIKLAL SHAH S 157587 80.96
Corporate Action:
Goa Carbon Limited; Annual General Meeting
The United Nilgiri Tea Estates Company Limited; Annual General Meeting/ Dividend -Rs 1.70 Per
Share
Dabur India Limited; Annual General Meeting/ Dividend - Re 1/- Per Share
HDFC Bank Limited; Dividend - Rs 9.50/- Per Share
Havells India Limited; Annual General Meeting/ Dividend -Rs 3/- Per Share
Result Calendar:
MRMGAST
Corporate Action / Result Calendar
CEATLTD, DLF, HDIL, IBREALEST & 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
Morning Tea
29th June 2016
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Kapil Shah
Digitally signed by Kapil Shah
DN: cn=Kapil Shah, o=Choice Equity Pvt Ltd,
ou=Research Team,
email=kapil.shah@choiceindia.com, c=US
Date: 2016.06.29 08:52:36 +05'30'