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Trend Today Report (21 Feb 2018)

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husains

Husains

MARKET WRAP

Benchmark indices wiped out gains in last hour of trade after further correction in rupee that

fell a percent intraday against the US dollar.

The 30-share BSE Sensex was down 71.07 points at 33,703.59 and the 50-share NSE Nifty

declined 18 points to 10,360.40.The market breadth was weak as about 1,464 shares declined

against 1,261 advancing shares on the BSE.

Among midcaps, Tata Global, Biocon, Voltas, Radico Khaitan, Bhushan Steel and Just Dial were

down 1-3 percent while Canara Bank, IDBI Bank, Indian Bank, Union Bank, Fortis Healthcare,

Apollo Tyres, Titan Company and PC Jeweller gained 1-5 percent.

BROAD MARKET INDICES

INDEX

P. Close

OPEN

HIGH

LOW

CURRENT %CHANGE

NIFTY 50

10387.30

10391.00

10429.35

10347.65

10360.40

-0.17

NIFTY NEXT 50

29158.85

29211.90

29437.10

29081.10

29315.70

0.46

NIFTY MIDCAP 50

5076.60

5071.80

5106.50

5045.90

5065.35

-0.13

NIFTY100 LIQ15

4323.90

4325.75

4355.80

4293.50

4311.35

-0.06

Contact No. +91-903-977-7700

www.moneyclassicresearch.com

asian index

ASIAN INDEX

INDEX

OPEN

HIGH

LOW

CLOSE

%CHANGE

NIKKEI 225

22054.3

22064

21831

21925

-1.02

HANG SENG

31165.3

31340

30720

30874

-0.78

TAIWAN

2433.35

2438.5

2411.2

10421

0.47

SSE

3188.25

3203.5

3171.4

3199.5

0.45

INDIAN MAJOR SECTORAL INDICES

INDEX

P. Close

OPEN

HIGH

LOW

CURRENT %CHANGE

NIFTY BANK

25097.65

25105.55

25158.10

24829.00

24874.40

-0.73

NIFTY FIN SERVICE

10447.00

10481.80

10498.90

10360.60

10381.10

-0.54

NIFTY IT

12351.20

12272.95

12491.60

12268.55

12372.00

0.33

NIFTY PHARMA

9028.20

9054.45

9086.50

8982.10

9020.75

-0.08

Contact No. +91-903-977-7700

www.moneyclassicresearch.com

stock update

STOCK UPDATE

IndiGrid buys into transmission company, completes acquisition

of 3 Sterlite Power assets

IndiGrid, an infrastructure investment Trust (InvIT), has completed the acquisition of three assets

from its sponsor Sterlite Power Grid Venture Ltd.

The Trust has also acquired a 46 per cent stake in the transmission asset of Techno Eletric &

Engineering Company. The asset, Patran Transmission Company Limited, has a sub-station in

Patran, Punjab, and transmission lines that connect Kaithal-Patiala. InvITs are investment

vehicles that own operating infrastructure assets in India.

While the three assets from Sterlite Power will come with a price tag of Rs 1,410 crore, IndiGrid

is acquiring the Patran-stake for Rs 230 crore. The Patran acquisition agreement was signed on

Monday, and will be completed by March.

“Post the acquisitions, IndiGrid’s total portfolio increases to 13 transmission lines and two

substations operational across eight states in India. At present its assets stand at Rs 5,300 crore.

The three assets from Sterlite Power consists of five transmission lines, aggregating 1,425 km.

"All these acquisitions are highly accretive and will increase portfolio IRR to 11 per cent," said

Agrawal. He added that the deals will enable IndiGrid to deliver a DPU (distribution per unit) of

Rs 12 for the next five years.

Contact No. +91-903-977-7700

www.moneyclassicresearch.com

stock update 1

STOCK UPDATE

Rotomac bank fraud: I-T dept attaches 11 bank accounts

After the CBI and the ED, the Income Tax Department has stepped up action against the

Rotomac group and its promoters. Attaching 11 bank accounts in connection with an alleged tax

evasion probe against them, officials said today.

The accounts in various bank branches in Uttar Pradesh were attached last night.The provisional

attachment action has been carried out to "recover outstanding tax demands", understood to be

about Rs 85 crore, the officials said.

Three bank accounts of the group were attached in January last year by the department, they

said. The Kanpur-based group is being probed by the CBI and the Enforcement Directorate in

connection with an alleged bank loan fraud of Rs 3,695 crore, given by a consortium of seven

banks.

The CBI had registered a criminal case against Rotomac Global Pvt Limited, its Director Vikram

Kothari, his wife Sadhana Kothari and son Rahul Kothari and unidentified bank officials on a

complaint received from Bank of Baroda and conducted raids against them yesterday.

It was alleged in the complaint from the Bank of Baroda that conspirators cheated a consortium

of bank loans to the tune of Rs 3,695 crore including the interest component, CBI officials said.

Contact No. +91-903-977-7700

www.moneyclassicresearch.com