Market Outlook
September 03, 2018
Market Cues
Domestic Indices
Chg (%)
(Pts)
(Cl ose)
Indian markets are likely to open flat tracking global indices and SGX Nifty.
BSE Sensex
(0.1)
(45)
38,645
U.S. stocks showed a lack of direction during trading on Friday before ending the
Nifty
0.1
4
11,680
session rough flat. The major averages ended the day on opposite sides of the
Mid Cap
0.4
58
16,881
unchanged line. The Dow Jones edged down 1% to 25,964 and the Nasdaq rose
Small Cap
0.5
94
17,193
0.% to 8,109.
Bankex
(0.2)
(52)
31,741
UK stocks fell in cautious trade on Friday as U.S. President Donald Trump
threatened to escalate his trade war with China and investors awaited the outcome
Global Indices
Chg (%)
(Pts)
(Cl ose)
of Brexit talks between EU negotiator Michel Barnier and U.K. Brexit Secretary
Dominic Raab. The FTSE 100 down 0.3% at 7,496.
Dow Jones
(0.1)
(22)
25,964
Nasdaq
0.1
22
8,109
On domestic front, Indian stocks fell slightly during the last trading session as trade
FTSE
(0.3)
(20)
7,496
war worries resurfaced and investors waited for Q1 GDP data release later in the
Nikkei
(0.01)
(4)
22,865
day for directional cues. The BSE Sensex dipped by 0.1% to 38,645.
Hang Seng
(0.9)
(275)
27,888
Shanghai Com
(1.1)
(32)
2,738
News Analysis
Wipro wins biggest contract of over $1.5 billion from Alight Solutions
A dvances / Declines
BSE
NSE
Advances
1,448
845
Detailed analysis on Pg2
Declines
1,290
953
Investor’s Ready Reckoner
Unchanged
161
93
Key Domestic & Global Indicators
Volumes (` Cr)
Stock Watch: Latest investment recommendations on 150+ stocks
Refer Pg5 onwards
BSE
2,798
NSE
40,792
Top Picks
C MP
Target
U psi de
C ompany
Sector
R ating
(`)
(`)
(%)
Net Inflows (` Cr)
Ne t
Mtd
Ytd
Blue Star
Capital Goods
Buy
680
867
27.3
FII
(49)
1,476
-1,934
Dewan Housi ng Finance
Financials
Accumulate
666
720
8.2
*MFs
(151)
3,808
76,330
Parag Milk F oods
Others
Buy
309
410
32.6
Bata India
Others
Accumulate
1,082
1,243
14.8
KEI Industrie s
Capital Goods
Buy
417
589
42.1
Top Gainers
Price (`)
Chg (%)
More Top Picks on Pg4
WELSPUNIND
75
8.9
Key Upcoming Events
HATSUN
785
8.5
Previous
C onsensus
D ate
Region
Event Description
HDIL
32
7.9
ReadingExpectations
Sep 03, 2018 China
PMI Manufacturing
51.20
51.00
CCl
288
6.7
Sep 03, 2018 Germany PMI Services
55.20
JAICORPLTD
167
6.1
Sep 03, 2018 Germany PMI Manufacturing
56.10
Sep 03, 2018 UK
PMI Manufacturing
54.00
Top Losers
Price (`)
Chg (%)
Sep 05, 2018 Euro Zone
Euro-Zone GDP s.a. (QoQ)
0.40
More Events on Pg7
VAKRANGEE
38
-8.2
YESBANK
343
-5.1
KIRLOSENG
297
-5.0
KWALITY
19
-4.9
TATACOMM
539
-3.4
As on Aug 31, 2018
www.angelbroking.com
Market Outlook
September 03, 2018
News Analysis
Wipro wins biggest contract of over $1.5 billion from Alight Solutions
Information technology (IT) services company Wipro has won its largest contract to
date from US-based human resources (HR) and financial solutions company Alight
Solutions LLC. The deal will fetch it around $1.6 billion in revenue over 10 years.
The contract follows the two companies’ strategic alliance announced in July. As
part of that, Wipro had announced investing $117 million in Alight and acquiring
its captive India unit. Wipro was mandated to digitally transform the Illinois-
headquartered company’s business as part of this strategic arrangement. “This
deal will result in revenues of $1.5-1.6 billion for Wipro over the tenure. This is
Wipro’s largest win to date,” the company said in a statement. According to the
deal, Wipro will drive digital transformation across Alight’s offers in health, wealth,
HR, and finance solutions, among others. Winning this deal has helped Wipro to
join its larger peer Tata Consultancy Services (TCS), which has won three multi-
year deals with a combined value of more than $5 billion since December last
year.
Economic and Political News
GST revenues slide to Rs 939bn in August from Rs 964bn in July
Centre may use mix of schemes to ensure most farmers get MSP benefits
Home, personal loans drive household debt to 4% of GNDI, highest in 7 yrs
Aviation ministry seeks sops from FinMin to boost distressed sector
Corporate News
TCS seen front-runner for $3.5-bn Britain's Network Rail contract
Chennai-based online Pharmacy firm Netmeds.com raises $35 million
Life Insurance Corp aims Rs 75 bn first premium income from eastern region
JSW Steel once again becomes largest buyer of NMDC iron ore in Karnataka
www.angelbroking.com
Market Outlook
September 03, 2018
Top Picks
Market Cap
C MP
Target
Upside
C ompany
R ationale
(` Cr)
(`)
(`)
(%)
Favorable outlook for the AC industry to augur
well for Cooling products business which is out
Blue Star
6,511
680
867
27.3
pacing the market growth. EMPPAC divisi on's
profitability
to
improve
once operating
environment turns around.
With a focus on the low and medium income (LMI)
consumer segme nt, the company has increased its
Dewan Housi ng Finance
20,879
666
720
8.2
presence in tier-II & III cities where the growth
opportunity i s immense.
Well capitalized with CAR of 18.1% which gives
sufficient room to grow asset base . Faster
ICICI Bank
2,21,588
342
416
20.8
resolution of NPA would reduce provision cost,
which would help to report better ROE.
High order book execution in EPC segment, rising
KEI Industrie s
3,248
417
589
41.1
B2C sales and hi gher exports to boost the
revenues and profitability
Expected to benefit from the lower capex
Music Broadcast Limited
1,883
324
475
46.6
requirement and 15 year long radio broadcast
licensing.
Strong brands and distribution network would
Siyaram Silk Mills
2,619
554
851
53.6
boost growth going ahead. Stock curre ntly trades
at an inexpensive valuation.
GST regime and the Gujarat plant are expected to
Maruti Suzuki
2,78,288
9,097
10,820
18.9
improve the company’s sales volume and
margins, respectively.
We expect loan book to grow at 24.3% over next
GIC Housing
1,858
343
591
71.3
two year; change in borrowing mix will help in
NIM improvement
Third largest brand pl ay in luggage segment
Increase d product offerings and improving
Safari Industries
2,011
898
1,071
19.2
distribution network i s leading to strong growth in
busine ss. Likely to post robust growth for next 3-4
years
We expect financialisation of savings and
Aditya Birla Capital
31,490
141
218
54.4
increasing penetration in Insurance & Mutual fund
would ensure steady growth.
One of the leading Indian dairy products
companie s in Indi a created strong brands in dairy
products. Rising revenue share of high-margin
Parag Milk F oods
2,507
309
410
32.6
Value Added Products and reduction in interest
cost is likely to boost margins and earnings in next
few years.
HDFC Bank maintaine d its steady growth in the
4QFY18. The bank’s net profit grew by
20.3%.
Steady growth in interest income and other income
HDFC Bank
5,61,219
2,062
2,350
13.9
aided PAT growth. The Strong liability franchise
and healthy capitalisation provi des strong earning
visibility. At the current market price, the bank is
trading at 3.2x FY20E ABV.
Source: Company, Angel Research
www.angelbroking.com
Market Outlook
September 03, 2018
Continued...
Market Cap
C MP
Target
Upside
C ompany
R ationale
(` Cr)
(`
(`)
(%)
We expect strong PAT growth on back of
healthy growth in automobile segment (on
back of new launches and facelifts in some of
M&M
1,22,200
965
1,050
8.8
the model
) and strong growth in Tractors
segment coupled by its strong brand recall
and improveme nt in rural sentiment
Market leader in the room air conditioner
(RAC) outsourced manufacturing space in India
with a market share of 55.4%. It is a one-stop
Amber Enterprise s
3,021
976
1,230
26.0
solutions provider for the major brands in the
RAC industry and currently serves eight out of
the 10 top RAC brands in India
BIL is the largest footwe ar retailer in India,
offering footwear, accessories and bags across
brands. We expect BIL to report net PAT CAGR
of
~16% to
~`3115cr over FY2018-20E
Bata India
13,974
1,082
1,243
14.8
mainly due to new product launches, hi gher
number of store s addition and focus on
women’s high growth se gme nt and margin
improve ment
SHTF is in the sweet spot with benefits from
stronger CV volumes, NIMs unaffected by
Shriram Transport Finance
rising bond yields on the back of stronger
29,538
1,338
1,764
31.5
pricing power and an enhancing ROE by
750bps over FY18-20E, supported by decline
in credit cost.
We expect JSPL’s top line to grow at
27%
CAGR over FY19-FY20 on the back of strong
steel demand and capacity addition. On the
Jindal Steel & Power Limited
19,567
220
327
47.3
bottom line front, we expect JSPL to turn in to
profit by FY19 on back of strong operating
margin improve ment.
GMM Pfaudler Limited (GMM) is the Indian
market leader in glass-lined (GL) steel
equipme nt. GMM is expected to cross CAGR
GMM Pfaulder
1,677
1,106
1,287
16.4
15%+ in revenue over the next few years
mainly led by uptick in de mand from user
industries and it is also expecting to increase its
share of non-GL business to 50% by 2020.
Aurobindo Pharmace uticals, amongst the
Indian Pharmaceutical companie s, is well
placed to face the challenging generic markets,
given its focus on achieving growth through
Aurobindo Pharmaceutical s
40,620
712
780
9.5
productivity. Aurobindo will report net revenue
& net profit CAGR of
~13% & ~8% re sp.
during FY2018-20E. Valuations are cheap V/ s
its peers and own fair multiples of 17-18x.
Well planne d strategy to grow small business
loans and cross-selling would propel fee s
Yes Bank
86,407
343
435
26.8
income. We expect YES to grow its advance
much higher than industry and improve ment in
asset quality to support profitability.
We believe advance to grow at a he althy
CAGR of 35% over FY18-20E. Below peers
RBL Bank
25,769
626
690
10.2
level ROA
(1.2% FY18) to expand led by
margin expansion and lower cre dit cost.
TTK Prestige has emerged as one of the
leading brands in kitchen appliances in India
after its succe ssful transformati on from a single
TTK Prestige
7,381
7,140
8,200
14.8
product company to offering an entire gamut
of home and kitchen appliances. We are
expecting a CAGR of 18% in revenue and 25%
in PAT over FY2018-20.
Source: Company, Angel Research
www.angelbroking.com
Market Outlook
September 03, 2018
Continued...
Market Cap
C MP
Target
Upside
C ompany
R ationale
(` Cr)
(`)
(`)
(%)
We expect Inox Wind to report expone ntial
growth in top-line and bottom-line over FY19-
20E. The growth would be led by changing
renewable energy industry dynamics in favor of
Inox Winds
2,172
100
127
27.2
wind energy segment viz. changes in auction
regime from Feed-In-Tariff (FIT) to reverse
auction regi me and Government’s guidance for
10GW auction in FY19 and FY20 each.
Considering the strong CV demand due to
change in BS-VI emission norms (will trigger
pre-buying activities), pick up in construction
Ashok Leyland
37,956
129
156
20.1
activities and no signi ficant impact on industry
due to recent axle load norms, we recommend
BUY on Ashok Leyland at current valuations.
Going forward, we expect TTNL to report net
revenue CAGR of ~17% over FY2017-19E and
net profit CAGR of ~22% over the same period
on the back of (a) No.1 leadership position in
TV Today
37,956
450
560
23.8
Hindi news genre (for the
14th consecutive
year) and (b) No.2 leadership position in
English news genre. At the current valuation, we
recommend BUY.
Source: Company, Angel Research
www.angelbroking.com
Market Outlook
September 03, 2018
Fundamental Call
Market Cap
C MP
Target
Upside
C ompany
R ationale
(` Cr)
(`)
(`)
(%)
CCL is likely to maintain the strong growth
CCL Products
3,574
288
360
25.0
trajectory over FY18-20 backed by capacity
expansion and new geographical foray
We forecast Nilkamal to report top-line CAGR of
~9% to `2,635cr over FY17-20E on the back of
Nilkamal
2,982
1,965
2,178
10.8
healthy de mand growth in pl astic divi sion. O n the
bottom-line front, we e stimate
~10% CAGR to
`162cr owing to improve ment in volumes.
Elantas Beck India is the Indian market leader in
liquid insulation segment used in electrical
equipme nts li ke motors, transformers etc. It derives
Elantas Beck India Ltd
1,641
2,098
2,500
19.2
demand from several industries w hich are expected
to register 10%+ CAGR in de mand in the coming
years.
Greenply Industries Ltd (GIL) manufactures plywood
& allied products and medium density fibreboards
(MDF). GIL to report net revenue CAGR of ~14% to
Greenply Industries
2,511
204
333
62.6
~`2,478cr over FY2017-20E mainly due to healthy
growth in plywood & lamination busine ss on the
back of strong brand and di stribution network
L&T Fin’s new manage ment is on track to achieve
L&T Finance Hol ding
36,726
184
210
14.2
ROE of 18% by 2020 and recent capital infusion of
`3000cr would support advance growth.
www.angelbroking.com
Market Outlook
September 03, 2018
Key Upcoming Events
Global economic events release calendar
Bl oomberg Data
D ate
Time
C ountry
Event Description
Unit
Period
L ast Reporte d
E stimate d
Aug 03, 2018
6:30 AM China
PMI Manufacturing
Value
Aug
51.20
51.00
Sep 03, 2018
1:25 PM Germany
PMI Services
Value
Aug F
55.20
1:25 PM Germany
PMI Manufacturing
Value
Aug F
56.10
Sep 05, 2018
2:00 PM UK
PMI Manufacturing
Value
Aug
54.00
Sep 07, 2018
2:30 PM Euro Zone
Euro-Zone GDP s.a. (QoQ)
% Change
2Q F
0.40
6:00 PM US
Change in N onfarm payrolls
Thousands
Aug
157.00
192.00
6:00 PM US
Unnemployment rate
%
Aug
3.90
3.80
Sep 08, 2018
China
Exports YoY%
% Change
Aug
12.20
Sep 10, 2018
2:00 PM UK
Industrial Production (YoY)
% Change
Jul
1.10
7:00 AM China
Consumer Price Index (YoY)
% Change
Aug
2.10
Sep 11, 2018
2:00 PM UK
Joble ss claims change
% Change
Aug
6.20
Sep 12, 2018
India
Imports YoY%
% Change
Aug
28.81
India
Exports YoY%
% Change
Aug
14.32
US
Producer Price Index (mom)
% Change
Aug
0.20
5:30 PM India
Industrial Production YoY
% Change
Jul
7.00
Sep 13, 2018
6:00 PM US
Consumer price index (mom)
% Change
Aug
0.20
4:30 PM UK
BOE Announce s rate s
% Ratio
Sep 13
0.75
5:15 PM Euro Zone
ECB announces interest rates
%
Sep 13
-
Sep 14, 2018
7:30 AM China
Industrial Production (YoY)
% Change
Aug
6.00
12: 00 PM India
Monthly Wholesale Prices YoY%
% Change
Aug
5.09
6:45 PM US
Industrial Production
%
Aug
0.11
Sep 17, 2018
2:30 PM Euro Zone
Euro-Zone CPI (YoY)
%
Aug F
2.10
Sep 19, 2018
6:00 PM US
Housi ng Starts
Thousands
Aug
1,168.00
2:00 PM UK
CPI (YoY)
% Change
Aug
2.50
Source: Bloomberg, Angel Research
www.angelbroking.com
Market Outlook
September 03, 2018
Macro watch
Exhibit 1: Quarterly GDP trends
Exhibit 2: IIP trends
(%)
(%)
10.0
9.0
8.5
9.1
8.0
7.3
7.5
9.0
6.9
7.0
8.0
8.1
7.6
7.6
7.7
7.0
8.0
7.2
6.8
7.0
6.0
5.3
7.0
4.8
4.8
6.1
6.3
5.0
4.1
5.6
3.9
6.0
4.0
5.0
3.0
1.8
4.0
2.0
1.0
3.0
-
Source: CSO, Angel Research
Source: MOSPI, Angel Research
Exhibit 3: Monthly CPI inflation trends
Exhibit 4: Manufacturing and services PMI
(%)
z
6.0
56.0
Mfg. PMI
Services PMI
5.2
5.1
4.9
4.9
4.9
4.6
54.0
5.0
4.4
4.3
4.2
52.0
4.0
3.6
3.3
3.3
50.0
3.0
48.0
2.0
46.0
1.0
44.0
42.0
-
40.0
Source: MOSPI, Angel Research
Source: Market, Angel Research; Note: Level above 50 indicates expansion
Exhibit 5: Exports and imports growth trends
Exhibit 6: Key policy rates
(%)
Exports yoy growth
Imports yoy growth
(%)
Repo rate
Reverse Repo rate
CRR
35.0
7.00
30.0
6.50
25.0
6.00
20.0
5.50
15.0
5.00
10.0
4.50
5.0
4.00
0.0
3.50
(5.0)
3.00
Source: Bloomberg, Angel Research
Source: RBI, Angel Research
www.angelbroking.com
Market Outlook
September 03, 2018
Global watch
Exhibit 1: Latest quarterly GDP Growth (%, yoy) across select developing and developed countries
8.0
(%)
6.9
7.0
5.8
6.0
5.3
5.0
5.0
1.1
3.7
4.0
2.5
3.0
2.2
1.8
2.0
1.5
1.4
0.8
1.0
0.3
-
Source: Bloomberg, Angel Research
Exhibit 2: 2017 GDP Growth projection by IMF (%, yoy) across select developing and developed countries
(%)
6.7
6.8
7.0
6.0
5.4
5.2
5.0
3.7
4.0
3.0
1.8
2.2
2.0
1.7
1.6
1.5
2.0
0.7
0.7
1.0
-
Source: IMF, Angel Research
Exhibit 3: One year forward P-E ratio across select developing and developed countries
(x)
25.0
20.0
15.0
10.0
5.0
-
Source: IMF, Angel Research
www.angelbroking.com
Market Outlook
September 03, 2018
Exhibit 4: Relative performance of indices across globe
Returns (%)
C ountry
Name of index
Closing price
1M
3M
1YR
Brazil
Bovespa
78,389
(2.4)
3.0
12.0
Russia
Micex
4,274
1.4
7.1
11.4
India
Nifty
11,692
3.5
10.0
19.2
China
Shanghai Composite
2,769
(4.8)
(11.6)
(16.8)
South Africa
Top 40
54,031
4.6
7.6
7.9
Mexico
Mexbol
50,187
1.0
12.4
(2.2)
Indonesia
LQ45
963
0.6
2.8
(1.0)
Malaysia
KLCI
1,821
2.9
2.5
2.5
Thailand
SET 50
1,142
1.1
(0.2)
13.6
USA
Dow Jones
26,125
3.2
5.9
19.3
UK
FTSE
7,563
(1.8)
(1.6)
1.8
Japan
Nikkei
22,848
1.3
3.8
17.6
Germany
DAX
12,562
(2.3)
(1.7)
3.7
France
CAC
5,501
(0.4)
0.4
7.9
Source: Bloomberg, Angel Research as on 31 August, 2018
www.angelbroking.com
Market Outlook
September 03, 2018
Exhibit 7: Historical Angel Top Picks/Fundamental Calls
D ate Added
Top Picks/Fundamental
Stocks
Reco Price
Target/Revised Price
Curre nt Status
17-08-2018
Top Picks
Ashok Leyland
128
156
Open
10-08-2018
Top Picks
Inox Wind
107
127
Open
31-08-2018
Top Picks
TTK Prstige
7,235
8,200
Open
09-08-2018
Top Picks
TTK Prstige
6,206
7,500
06-07-2018
Top Picks
Aurobindo Pharma
603
780
Open
30-08-2018
Top Picks
RBL Bank
626
690
Open
06-07-2018
Top Picks
RBL Bank
565
670
06-07-2018
Top Picks
Yes Bank
348
418
Open
30-06-2018
Top Picks
Jindal Steel & Power
222
350
Open
20-06-2018
Top Picks
Shriram Transport Finance Com
1,466
1,764
Open
30-07-2018
Top Picks
Bata India
918
1,007
Open
23-07-2018
Top Picks
Bata India
842
955
01-07-2018
Top Picks
Bata India
862
948
18-06-2018
Top Picks
Bata India
779
896
14-06-2018
Top Picks
Amber Enterprise s
1,026
1,230
Open
07-06-2018
Top Picks
M&M
918
1050
Open
04-05-2018
Top Picks
M&M
860
990
03-05-2018
Fundamental
L&T Finance Hol ding
171
210
Open
02-05-2018
Top Picks
HDFC Bank
1944
2315
Open
04-05-2018
Top Picks
Matrimony.com Ltd
573
1016
Closed(17/08/ 2018)
20-04-2018
Top Picks
Matrimony.com Ltd
781
984
15-05-2018
Top Picks
Parag Milk F oods Limited
310
410
Open
16-04-2018
Top Picks
Parag Milk F oods Limited
249
333
27-08-2018
Top Picks
GMM Pfaudler Limited
1,170
1,287
Open
18-08-2018
Top Picks
GMM Pfaudler Limited
1,024
1,200
07-08-2018
Top Picks
GMM Pfaudler Limited
984
1,100
29-06-2018
Fundamental
GMM Pfaudler Limited
932
1,020
14-05-2018
Fundamental
GMM Pfaudler Limited
818
900
06-04-2018
Fundamental
GMM Pfaudler Limited
712
861
07-03-2018
Fundamental
Ashok Leyland Ltd
139
163
Closed (26/ 04/ 2018)
03-03-2018
Fundamental
Greenply Industries
340
395
Open
27-08-2018
Top Picks
Safari Industries
974
1,071
Open
14-08-2018
Top Picks
Safari Industries
868
1,000
07-08-2018
Top Picks
Safari Industries
788
870
16-07-2018
Top Picks
Safari Industries
693
800
16-04-2018
Top Picks
Safari Industries
651
750
21-02-2018
Top Picks
Safari Industries
532
650
31-05-2018
Top Picks
HSIL Ltd
348
Closed (31/ 05/ 2018)
16-02-2018
Top Picks
HSIL Ltd
433
510
07-02-2018
Fundamental
Elantas Beck India Ltd.
2155
2500
Open
01-02-2018
Top Picks
ICICI Bank
352
416
Open
01-02-2018
Top Picks
Aditya Birla Capital
167
218
Open
04-01-2018
Fundamental
CCL Products
278
360
Open
03-01-2018
Fundamental
Nilkamal Ltd
1880
2178
Open
01-01-2018
Fundamental
Capital First Ltd
693
850
Closed (15/ 01/ 2018)
30-12-2017
Fundamental
Shreyans Industries Ltd
205
247
Closed
Source: Company, Angel Research
www.angelbroking.com
Market Outlook
September 03, 2018
Exhibit 8: Historical Angel Top Picks/Fundamental Calls
D ate Added
Top Picks/Fundamental
Stocks
Reco Price
Target/Revised Price
Curre nt Status
Fundamental
Prism Cement Ltd
160
Closed (09/ 05/ 2018)
21-12-2017
Fundamental
Prism Cement Ltd
118
131
18-12-2017
Fundamental Menon Bearings Limited
92
114
Closed (17/ 01/ 2018)
14-12-2017
Top Picks
Ruchira Papers Ltd.
188
244
Closed (09/ 02/ 2018)
17-05-2018
Top Picks
Century Plyboards India
280
Closed(17/05/ 2018)
28-11-2017
Top Picks
Century Plyboards India
317
400
19-12-2017
Top Picks
LT Foods
85
Closed(18/06/ 2018)
06-11-2017
Top Picks
LT Foods
74
96
16-10-2017
FundamentalEndurance Technologie s Ltd
1111
1277
Closed (01/ 12/ 2017)
11-09-2017
Top Picks
GIC Housing
533
655
Open
10-10-2017
Top Picks
Music Broadcast Limited
404
475
Open
20-07-2017
Top Picks
Music Broadcast Limited
368
434
07-07-2017
Fundamental L&T Finance Hol dings Ltd
149
179
Closed (28/ 8/2017)
06-07-2017
Fundamental
Syngene International
478
564
Closed (1/3/2018)
05-07-2017
Top Picks
Maruti
7371
10619
Open
05-06-2017
Top Picks
Karur Vysya Bank
127
100
Closed (12/ 03/ 2018)
23-05-2018
Top Picks
KEI Industrie s
481
589
Open
04-01-2017
Top Picks
KEI Industrie s
125
485
31-05-2018
Top Picks
Alkem Lab
1978
Closed (31/ 05/ 2018)
01-12-2016
Top Picks
Alkem Lab
1700
2441
17-10-2016
Top Picks
Asian Granito
267
534
Closed (18/ 02/ 2018)
17-05-2018
Top Picks
TV Today Network
460
Closed (17/ 05/ 2018)
04-08-2016
Top Picks
TV Today Network
297
603
05-04-2016
Top Picks
DHFL
189
720
Open
25-06-2018
Top Picks
Navkar Corporation
207
Closed(25/06/ 2018)
05-01-2016
Top Picks
Navkar Corporation
207
265
Open
08-12-2015
Top Picks
Blue Star
357
867
Open
30-10-2015
Top Picks
Siyaram Silk Mills
186
851
Open
Source: Company
www.angelbroking.com
Market Outlook
September 03, 2018
Research Team Tel: 022 - 39357800
E-mail: [email protected]
Website: www.angelbroking.com
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