MARKET OUTLOOK 4TH AUG, 2015

Dear Customer,

Markets always tend to be interesting with something or the other happening all the time. Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day.

• U.S. stocks closed lower on Monday, the first day of trade for August, as investors weighed mostly lackluster economic data and a renewed decline in oil, amid overseas news 

Dow Jones	17598.2	-91.7	-0.52%
Dow Futures	17497.0	-14.0	-0.08%
Hangseng	24339.9	-71.5	-0.29%
Nikkie	20526.9	-21.2	-0.10%
SGX Nifty	8559.5	-2.5	-0.03%

• Asian stocks dropped after Brent crude slid below $50 a barrel for the first time since January, dragging commodity producers lower.
• Market is expected to open on flattish note and likely to remain range bound during the day.
• Sarla Performance to consider stock split on 12th Aug
• JK Paper to issue 1.19cr shares on prefrential basis to promoter at Rs.52
• RBi Policy today No change expected in Interest & CRR
• Wockhardt recalls 5mn bottles of drugs from US Concerned drugs used in treating high blood pressure, ulcers
• A unit of HSBC has increased its stake in tyre maker Ceat Ltd to 5.64% by acquiring shares of the company from off market for an estimated Rs 130 crore.
• The FIPB has cleared 18 FDI proposals, including those of Cadila Healthcare and Tata Global Beverages Ltd

• Results Announced

Hero Moto Corp	result ahead of expectation sales came at 6856cr vs exp- 7041cr qoq 6695cr yoy 6999cr EBITDA came at 1048cr vs Exp- 9254cr qoq 838cr yoy 947cr PAT Came at 750cr vs Exp- 681cr qoq 476cr yoy 5625cr
BGR Energy	result ok sales came at 891cr vs qoq 1044cr yoy 629cr EBITDA came at 78cr vs qoq 89cr yoy 70cr PAT came at 11.4cr vs qoq 18.8cr yoy 9.2cr
Som Distilleries	result improved
JK Paper	result improved Sales came at 579cr vs qoq 575cr yoy 487cr EBITDA  came at 100cr vs qoq 91cr yoy 40cr PAT came at 17cr vs qoq 18cr yoy negative 22cr
Styrolution	Result improved. Sales came at 313cr vs qoq 267cr yoy 318cr EBITDA came at 33.8cr vs qoq 19.9cr yoy 14.8cr PAT came at 18.07cr vs qoq 9.21cr yoy 5.22cr Part of the improvment in result is on account of some inventory gain.
Tamilnadu News print	result improved Sales came at 639cr vs yoy 479cr qoq 689cr EBITDA came at 136cr vs yoy 105cr qoq 172cr PAT came at 51.6cr vs yoy 26.23cr qoq 69cr
Indiabull Real Estate	Result improved. Sales came at 738cr vs  qoq 591cr yoy 608cr EBITDA cmae at 237cr vs qoq 88cr yoy 144cr PAT came at 91cr vs qoq 93cr yoy 38cr
Berger Paints	Result is above expectations Sales is Rs 1117.7 cr vs exp of Rs 1104.4 cr. QoQ Rs 1038 cr YoY Rs 1056 cr EBITDA is Rs 149.4 cr vs exp of Rs 135 cr. QoQ Rs 121 cr YoY rs 114.7 cr PAT is Rs 82.8 cr vs exp of rs 73.3 cr. QoQ Rs 58 cr. YoY Rs 57.5 cr The stock is trading at 43.8x on F16E earnings
Mold Tech Packaging	result improved Sales came at 74cr vs qoq 60cr yoy 74cr EBITDA came at 11.21cr vs qoq 9.23cr yoy 9.93cr PAT came at 5.71cr vs qoq 4.13cr yoy 3.89cr Qtr EPS is Rs.4.13
Hitech Plastic	Result improved qoq though remain flat yoy. Sales came at 102cr vs qoq 96cr yoy 116cr EBITDA came at 11.04cr vs qoq 5.90cr yoy 11.4cr PAT came at 3.20cr vs qoq 0.17cr yoy 2.02cr Qtr EPS Rs.1.86
Vesuvius India	result improved Sales came at Rs.168cr vs qoq 165cr yoy  157cr EBITDA came at 32.25cr vs qoq 26.65cr yoy 24.31cr PAT came at 19.28cr vs qoq 15.58cr yoy 14.11cr
Indo Count	Result good
Advani Hotel	result improved
Kalindi Rail	result improved
Indiabull Wholesale Service	result declining
Poddar Pigment	result flat
3 M India	Result ok salrs came at 511cr vs qoq 470cr yoy 456cr EBITDA came at 72cr vs qoq 70cr yoy 50cr PAT came at 40cr vs qoq 42cr yot 25cr
Redington India	result marginally below exp Sales came at 7570cr vs exp 7789cr EBITDA came at 156cr vs exp 166cr PAT came at 81cr vs exp 89cr qtr EPS Rs.2.03
Nesco	Result inline
Bharat Forge	result inline Though sales came at 1103cr below expectation of 1214cr EBITDA came at 346cr  exp 346cr PAT came at 195cr vs Exp 193cr
Himachal Futuristic	result ok. Sales came at 625cr vs qoq 681cr yoy 619cr EBITDA came at 88cr vs qoq 83cr yoy 75cr Reported PAT came at 112cr vs qoq 9.41cr yoy 70cr Reported PAT is voletile on account of exceptionals
Aban offshore	result inline Revenue came at 981cr vs exp 1005cr EBITDA came at 586cr vs exp 583cr PAt cmae at 135cr vs exp 157cr
India Nippon	Result ok
Atul Auto	Result inline Sales came at 105cr vs Exp 107cr EBITDA came at 11.8cr vs Exp 11.9cr PATcame at 7.10cr vs Exp 8.05cr Qtr EPS is Rs.3.24
V-Guard	Result is in-line Sales is Rs 494.5 cr vs exp of Rs 517.9 cr. QoQ Rs 439.5 cr YoY Rs 473.9 cr EBITDA is Rs 43.5 cr vs exp of Rs 42.8 cr. QoQ Rs 35.3 cr YoY rs 40.4 cr PAT is Rs 25.2 cr vs exp of rs 24.7 cr. QoQ Rs 20.1 cr. YoY Rs 22.3 cr The stock is trading at 30.7x on F16E earnings
Carborundum Universal	result inline
Mcleod Russel	Result below expectation
Firstsource Solution	result below expectation Sales came at 738cr vs Exp 762cr EBITDA  came at 89.68cr vs Exp 96.5cr PAT cmae at 56.4cr vs Exp 61.5 cr
Monsanto India	Result is below expectations Sales is Rs 263.3 cr vs exp of Rs 267 cr. QoQ Rs 69.3 cr YoY Rs 259.4 cr EBITDA is Rs 71.2 cr vs exp of Rs 87.7 cr. QoQ loss of Rs 10.4 cr YoY profit of rs 82.8 cr PAT is Rs 62 cr vs exp of 73.4 cr. QoQ loss of Rs Rs 8.3 cr. YoY Rs 71 cr
Anil Ltd	result declining
PNB Gilt	result not good

• Result to be Announced (Reported PAT Rs cr)  

4/8/2015	Jun'14	Mar'15	Exp	NB Insti
Astrazeneca Pharma India Ltd.	-17.6	38.1	na	na
Bharti Airtel Ltd.	1108.5	1255.3	1586.6	na
Britannia Industries Ltd.	113.7	167.3	158.2	144.3
Capital First Ltd.	20.8	36.5	38.9	na
Clariant Chemicals (India) Ltd.	85.4	10.7	na	na
Dion Global Solutions Ltd.	-14.3	22.3	na	na
E.I.D. Parry (India) Ltd.	-43.8	137.6	na	na
Entertainment Network (India) Ltd.	24.4	25.5	na	na
Future Lifestyle Fashions Ltd.	3.6	6.1	na	na
Godrej Properties Ltd.	45.6	51.4	45.5	na
Hexaware Technologies Ltd.	76.6	83.4	102.6	na
Indian Hume Pipe Company Ltd.	5.6	12.6	9.1	na
JK Tyre & Industries Ltd.	55.4	106.0	89.9	na
Mangalam Drugs & Organics Ltd.	-0.2	3.5	na	na
MEP Infrastructure Developers Ltd.	0.0	0.0	na	na
Multibase India Ltd.	1.5	1.9	2.1	na
Noida Toll Bridge Company Ltd.	20.4	22.3	21.1	na
Orient Cement Ltd.	34.9	85.5	52.5	na
Sangam (India) Ltd.	11.3	14.5	16.0	na
Shivam Autotech Ltd.	8.0	6.2	7.8	na
Sundaram-Clayton Ltd.	23.3	32.5	na	na
Tribhovandas Bhimji Zaveri Ltd.	0.5	18.5	na	na
Torrent Power Ltd.	86.2	181.6	62.3	na
TV Today Network Ltd.	32.8	8.7	12.0	na