- Indian Oil Corporation (IOC) plans to invest $5 billion to expand its exploration and production business, with half going towards acquiring new assets as global crude oil prices have crashed. - IOC is recommending buying IOC stock between 396-399 for a target price of 407 with a stop loss of 392. - Nippon Life Insurance has agreed to increase its stake in Reliance Capital Asset Management to 49% from 35% by investing $184 million, valuing RCAM at $1.3 billion. RCAM will also change its name once approvals are received.

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Global View
India Update
Today’s Event/ Stock in News
Indian Oil Corporation (IOC) is reportedly planning to invest around $5 billion to expand its exploration and production business, while the
company will invest half of the said amount into acquisition of new assets that are increasingly becoming available in the wake of a global crude
oil crash. IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the
complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
Technical Outlook : The stock has been trading with its rising trend line support which is placed at 393.50 levels. Moreover, prices have been
trading above 100 DEMA which indicates that medium to long term trend is up. Furthermore, a momentum inductor RSI has remained above
50 levels, which point out for positive breath in the stock. So for trading perspective, one could buy in the range of 396-399 for the Target of
407 with the SL of 392.
Shares of Reliance Capital gained more than 3 percent intraday Tuesday after Nippon Life Insurance has agreed to raise stake in company's
asset management subsidiary. "Nippon Life Insurance (NLI) today has signed definitive agreements to increase its stake in Reliance Capital
Asset Management (RCAM) to 49 percent from existing 35 percent in tranches," the Anil Dhiribhai Ambani Group company said in its filing.
Boards of directors of both the companies - Nippon Life Insurance and Reliance Capital Asset Management - have approved an increase in stake
by the Japanese partner, subject to regulatory approvals. “Together we are determined to grow businesses multifold and have stronger
footprint in India and abroad”, Anil Ambani, Chairman, Reliance Group. The Japanese company will be investing an aggregate value of Rs 1,196
crore (USD 184 million) to acquire an additional 14 percent stake in Reliance Capital Asset Management. The transaction values RCAM's at Rs
8,542 crore (USD 1.3 billion). Post approvals, Nippon Life Insurance would become the co-sponsor in Reliance Capital Asset Management. In
line with the new shareholding structure, name of the company will also be changed from Reliance Capital Asset Management to Reliance
Nippon Life Asset Management. Reliance Capital Asset Management has managed assets worth Rs 2,43,162 crore as on June 2015, across
mutual funds, pension funds, managed accounts and offshore funds. Nippon Life Insurance had acquired 26 percent stake in Reliance Capital
Asset Management for Rs 1,450 crore in 2012. Subsequently, the Japanese company increased its stake by 9 percent to 35 percent in February
2015.
Technical Outlook: On daily chart, price has given breakout of its falling trend line at 375 levels with above average volumes. Moreover, stock has
been trading above 100 DEMA, on daily which indicates medium to long term trend is up. The momentum indicator RSI has remained above 60
levels on daily which point out for positive breath in the stock. So for trading perspective, one could buy in the range of 395-398 for the Target
of 406 with the SL of 391
IOC
RELCAP
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Morning Tea
14th Oct 2015
Buy in the range of 395-398 for the Target of 406 with the SL of 391
Buy in the range of 396-399 for the Target of 407 with the SL of 392
US stocks fell on Tuesday, with the Dow snapping a seven-day winning streak, on renewed fears of slowing growth in China and another bout of
selling in biotech shares. Biotechs led the S&P 500 and Nasdaq lower and the S&P health care index, down 1.2 percent, had the biggest losses
among S&P sectors, followed by industrials, down 1.1 percent. The Nasdaq Biotech Index .NBI was down 3.2 percent, extending recent declines.
Worries about third-quarter earnings reports continued to weigh on sentiment. Earnings for S&P 500 companies are expected to have dropped
nearly 5 percent year over year, which would be the worst quarter for earnings in six years, according to Thomson Reuters data. Earlier in the
day, data showed Chinese imports fell 20 percent in September due to weak domestic demand, indicating growth in the world's second-largest
economy was sputtering. The Dow Jones industrial average fell 49.97 points, or 0.29 percent, to 17,081.89, the S&P 500 lost 13.77 points, or
0.68 percent, to 2,003.69 and the Nasdaq Composite dropped 42.03 points, or 0.87 percent, to 4,796.61.
Asian stocks stumbled early Wednesday, as fresh data due out of China added to concerns over the state of the world's second-largest
economy. The mainland's consumer price index (CPI) rose 1.6 percent in September from a year earlier, against forecasts of a 1.8 percent rise
from a Reuters poll and following August's 2 percent gain. The producer price index (PPI) fell 5.9 percent, in line with expectations and after a
5.9 percent fall in the previous month. The PPI, which measures wholesale prices, clocked its 43rd straight month of decline as overcapacity in a
number of sectors coupled with a lack of demand to keep a lid on prices. Major US averages fell overnight, as investors weighed slight declines
in oil prices and further indications of a persistent slowdown in China's economy. The Shanghai Composite index traded at -0.10% to 3289.93,
Hang Seng index traded at -0.25 % to 22545.21, Japan's benchmark Nikkei 225 index traded at -2.03% to 17871.50, South Korea's Kospi index
traded down by 0.35 % to 2012.07 levels. The SGX Nifty suggests a flat opening for our markets as it is trading at 8122, down by 7.00 points.

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Bulk Deal
Corporate Action / Result Calendar
SEBI Certified – Research Analyst www.choiceindia.com
Morning Tea
Corporate Action:
Result Calendar:
HINDUNILVR, NETWORK18, TTKPRESTIGE, TV18BRDCST, ZEEL.
14th Oct 2015
Security in Ban
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Sr.No Deal Date Security Code Security Name Client Name Deal Type Quantity Price
1 13/10/2015 532219 ENERGYDEV LAXMI DEVI JIWARAJKA B 150000 41.75
2 13/10/2015 531699 SUPRDOM PARESH RAMJIBHAI CHAUHAN B 122572 41.25
3 13/10/2015 534731 BITL NAGASIH CHHATRASINH CHAVADA S 101384 43.46
4 13/10/2015 534731 BITL NAGASIH CHHATRASINH CHAVADA B 101384 43.58
5 13/10/2015 534731 BITL MOHD SHARIF MOHD MUSTKEEM ANSARI S 100008 43.51
6 13/10/2015 534731 BITL MOHD SHARIF MOHD MUSTKEEM ANSARI B 100008 43.49
7 13/10/2015 534731 BITL MAHENDRABHAI PRAJAPATI S 100008 43.49
8 13/10/2015 534731 BITL MAHENDRABHAI PRAJAPATI B 100008 43.50
9 13/10/2015 534731 BITL MEHULKUMAR MUDETHIYA MEHULKUMAR S 97704 43.62
10 13/10/2015 534731 BITL MEHULKUMAR MUDETHIYA MEHULKUMAR B 97704 43.50

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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
14th Oct 2015
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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: 2015.10.14 08:46:28 +05'30'