IDFC received RBI approval to utilize Rs 2,500 crore in non-distributable reserves for provisions against bad loans as it transitions to universal banking. This will result in an additional Rs 1,600 crore provision this fiscal and reduce its net worth. REC received shareholder approval to raise up to Rs 42,000 crore through bond issuances over the next year. Technical indicators suggest buying IDFC between Rs 137.50-139 and REC between Rs 272-274. US stocks ended higher on Monday with gains in Apple and financials, though biotech shares fell on price control concerns. Asian markets were up around 0.5% while Japan was closed for a holiday.

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Global View
India Update
Today’s Event/ Stock in News
IDFC, an infrastructure finance firm, has received Reserve Bank of India's (RBI) approval to utilize Rs 2,500 crore non-distributable
reserves for provisions against bad loans as part of exercise to clean its book before venturing into universal banking. IDFC had earlier
stated that it will make an additional provision in the second quarter of this fiscal against coal and gas power assets, as it transitions into
a bank by the end of the period. With these additional provisions, its net worth will reduce by approximately Rs 1,600 crore. IDFC is the
country's leading integrated infrastructure finance player providing end to end infrastructure financing and project implementation
services.
Technical Outlook : The stock has given breakout of its consolidation range of 121.40 to 134.70 levels on daily chart. The price has formed
long bullish candle stick with huge volumes, which indicates strong momentum can be seen in next few trading session. Recently, the
stock has given close above 50 DEMA on daily chart, which suggests short term trend is up. Moreover, momentum indictor MACD has
shown positive crossover on daily ch art, which indicates strength in the stock. So for trading perspective, one could Buy in the range of
137.50-139 for the Target of 145 with the SL of 135
Rural Electrification Corp (REC) has received shareholders' approval for the proposal to raise up to Rs 42,000 crore through issuance of
bonds or debentures on private placement basis. The shareholders approved the proposal with requisite majority at its annual general
meeting held on September 16, 2015. The proposal will enable the company to raise funds through private placement of
unsecured/secured non-convertible bonds/debentures up to Rs 42,000 crore, during a period of one year from the date of passing of
this resolution, i.e. up to September 15, 2016. REC is engaged in providing financial assistance to state electricity boards, state
government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.
Technical Outlook: On daily chart, recently stock has given breakout of its upper arm of falling channel formation at 268.50 levels with
above average volume. Moreover, stock has managed to close above its 50 DEMA, which suggest that short term trend is up.
Momentum indicator RSI has moved above 60 levels on daily chart, which gives positive momentum to the prices. So for trading
perspective, one could Buy in the range of 272-274 for the Target of 283 with the SL of 267.30.
IDFC
RECLTD
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Morning Tea
22nd Sept 2015
Buy in the range of 272-274 for the Target of 283 with the SL of 267.30
Buy in the range of 137.50-139 for the Target of 145 with the SL of 135
US stocks ended higher on Monday, rebounding from losses late last week with help from Apple and financial shares, but a drop in
biotech shares limited the advance. Shares of biotech companies fell after US Democratic presidential candidate Hillary Clinton said she
would announce a plan to stop "price gouging" for specialty drugs. Financial shares bounced back after losing ground following
Thursday's Federal Reserve decision to keep rates unchanged. Fears of slowing growth in China sparked a sharp selloff in global stock
markets in recent weeks and the Fed's comments about the global economy exacerbated those concerns. Investors are now focusing on
the next Fed meeting on October 27-28, though some economists now wonder whether the Fed will raise rates at all this year. The S&P
financial index was up 1.1 percent. The Dow Jones industrial average rose 125.61 points, or 0.77 percent, to 16,510.19, the S&P 500
gained 8.94 points, or 0.46 percent, to 1,966.97 and the Nasdaq Composite added 1.73 points, or 0.04 percent, to 4,828.96.
InAsianmarkets,HongKong.ShanghaiandSingaporeindexes wereup0.4 to0.5percent.TheJapanesemarketremainedclosedforanationalholiday.The
US dollar rose 1 percent versus major currencies as expectation remained rife that the Fed will hike rates later this year. Closer home, shares may witness
choppiness as the markets heads into the monthly derivate expiry on Thursday. The Shanghai Composite index traded at 0.72% to 3179.45, Hang Seng
indextradedat0.68%to21905.88,Japan'sbenchmarkNikkei225indexclosedat-2.00%to18070.21,SouthKorea'sKospiindexupmarginallyby0.37%to
1971.95 levels.TheSGXNiftysuggestsapositiveforourmarketsasitistradingat7994.50, upby16.50points.

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Bulk Deal
Corporate Action / Result Calendar
SEBI Certified – Research Analyst www.choiceindia.com
Morning Tea
22nd Sept 2015
Security in Ban
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Corporate Action:
Accelya Kale Solutions Limited; Annual General Meeting/Dividend Rs 25/- Per Share
Anant Raj Limited; Annual General Meeting/ Dividend - Re 0.24/- Per Share
Ballarpur Industries Limited; Annual General Meeting/ Dividend - Re 0.20/- Per Share
Dalmia Bharat Limited; Annual General Meeting/ Dividend - Rs 1.50/- Per Share
Dredging Corporation of India Limited; Annual General Meeting/Dividend - Rs 3/- Per Share (Book Closure Dates
Revised)
Financial Technologies (India) Limited; Annual General Meeting/ Dividend - Rs 5/- Per Share
Good Luck Steel Tubes Limited; Annual General Meeting/Dividend - Re 0.75/- Per Share
Madhucon Projects Limited; Annual General Meeting/Dividend Re 0.10 Per Share
Muthoot Finance Limited; Annual General Meeting/ Dividend - Rs 2/- Per Share
Nectar Lifesciences Limited; Annual General Meeting/ Dividend - Re 0.10/- Per Share
Rolta India Limited; Annual General Meeting/ Dividend - Rs 3 Per Share
SMS Pharmaceuticals Limited; Annual General Meeting/ Dividend - Rs 2/- Per Share
Steel Strips Wheels Limited; Annual General Meeting/Dividend Rs 2/- Per Share
Ucal Fuel Systems Limited; Annual General Meeting/ Dividend - Rs 2/- Per Share
Vikas GlobalOne Limited; Annual General Meeting/ Dividend - Re 0.05/- Per Share
Sr.No Deal Date Security Code Security Name Client Name Deal Type Quantity Price
1 21/09/2015 506197 BLISSGVS SHRUTI VISHAL RAO S 650,000 175.03
2 21/09/2015 512519 DONEAR NISHIL SURENDRABHAI MARFATIA S 278,464 15.09
3 21/09/2015 512519 DONEAR NISHIL SURENDRABHAI MARFATIA B 278,464 15.04
4 21/09/2015 526735 EXCAST BP FINTRADE PRIVATE LIMITED B 238,287 7.97
5 21/09/2015 539301 ARVINFRA ALPHA ENTERPRISES B 200,000 49.18
6 21/09/2015 500322 PANCM CLSA GLOBAL MARKETS PTE LTD S 81,899 65.28
7 21/09/2015 515127 RAMMA INDIGO EDUTAIMENT P LTD B 71,600 2.46
8 21/09/2015 537068 SATYA ANAAM MERCHANTS PRIVATE LIMITED S 58,452 20.45
9 21/09/2015 531160 SAUMYACAP JINESH ASHWIN MATALIA S 39,000 2.01
10 21/09/2015 538351 AFEL SHIVESH SYAGI B 35,138 133.10

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Research Team
Mr. Sumeet Bagadia Associate Director
Kunal Parmar Research Associate
Ritesh Patel Research Associate
Amit Pathania Research Associate
Vikas Chaudhari Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
Morning Tea
22nd Sept 2015
SEBI Registered – Research Analyst www.choiceindia.com * 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: 2015.09.22 08:44:23 +05'30'