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NIFTY FIFTY : - The Equity benchmark Nifty 50 opened in a positive note on Monday
up by 38 points or 0.43 per cent at 8735. The benchmark Index Nifty did not show any
clear movement last week after testing 8800 levels, it corrected by 100 points on low
volumes to close at 8715. This week being a truncated week with two successive holidays
we have seen seen some negative movement. Nifty Closed Almost Flat in A Holiday
Thinned Trade Amid Lackluster Global Cues And Caution Before Q2 Earnings &
IIP/Inflation Data. The Market saw a significant decline in a Thursday trading session
after the US Federal Reserve minutes boosted the case for higher interest rates. Nifty
dropped to a day low of 8541 approximately so far from a previous closing of 8708. Nifty
may consolidate between 8840-8540 range and any breakout or breakdown with volumes
may result in a 300-450 point movement on either side. The Significance Resistance for
Nifty is 8630-8740 and Support is 8520-8416.
BANK NIFTY : - The Bank Nifty opened in a Positive Note on Monday up by 89 points
or 0.45 per cent at 19489. On Monday Banking shares saw small profit booking after a
rate cut and some under performance was witnessed despite holding on to the support of
19500. The Bank Nifty was showing Considerable weakness and had closed at 19379 on
Monday, which is 300 points near range low of 19079. Banks may report some
improvements in fresh NPA/NPL creation on a sequential basis rather than mere
recognition, effective resolution may be more important as of now and transfer of Net
Performing Assets to some other Assets Reconstruction Company may ease the burden
on the banks temporarily, but it will not solve the basic problem of low capacity
utilization & tepid demand. Bank Nifty immediate support is around 19106-19026* area
and below that expect 18761-18519* area.On the upside, for any strength, Bank Nifty
need to sustain above 19600-19700* zone for further rally up to 19900-20000 area. The
Crucial Levels for Nifty is 19112-19348 Upside and 18880-18640 is down side.
R2
R1
PP
S1
S2
8632
8578
8524
8416
R1
PP
S1
S2
8826
8623
8420
8014
R1
PP
S1
S2
8908
8644
8380
7852
R1
PP
S1
S2
19112
18994
18876
R1
PP
S1
S2
19771
19111
18451
17131
R2
R1
PP
S1
S2
22172
20206
19223
18240
16274
8740
WEEKLY
R2
9232
MONTHLY
R2
9436
BANK NIFTY
DAILY
R2
19348
WEEKLY
R2
21091
MONTHLY
MOVING AVERAGE
21 DAYS
NIFTY
8714
BANK NIFTY
19626
PARABOLIC SAR
DAILY
50 DAYS
18640
100 DAYS
200 DAYS
8706
8485
8031
19436
18680
17193
WEEKLY
MONTHLY
NIFTY
8960
433
6907
BANK NIFTY
20613
15419
13769
Detail of Chart - On the above given daily Chart of NIFTY has Applied Bollinger Band
along with Parabolic SAR both the indicators are Leading, and gives signal of Buying or
Selling. Although the Uses of Bollinger Band differ from traders to traders Some
buywhen it break the Middle Band from below side and some buy when it break Upper
Band. We assume that the Breaking the Middle Band Usually a Bull side Signal as we
can see that. Although On the Above given Chart of Nifty both the Indicators are
indicating Bull Movement for next week. Now the market has Shifted in a Cautious
mode. However the Nifty Trend Now Seems clear toward the Next level of 8780-8800
both the Indicators are Indicating break above 860 would be the Important level for the
Nifty.
Detail of Chart - On the Above given Chart of Bank Nifty daily Chart has Applied the
Bollinger Band along With Parabolic SAR , Both are the Indicators are Showing the rally
may Continue toward the 19900-20200 level for Bank Nifty in Near-Term. The Bank
Nifty has 20570 around in last trading Week if it is able to Sustain the Level of 19750
will move toward the 20200 in two-three trading Sessions. The Important levels for Bank
Nifty is 19560-19380 is Down side While 19980-20200 is Up side.
R2
R1
PP
S1
S2
ACC
EQ
1660
1649
1639
1628
1618
ALBK
AMBUJACEM
ASIAN PAINT
AXISBANK
BAJAJ-AUTO
BANKBARODA
BANKINDIA
BHEL
BHARTIARTL
CIPLA
COALINDIA
DLF
DRREDDY
GAIL
GRASIM
HCLTECH
HDFC
HDFCBANK
HEROMOTOCO
HINDALCO
HINDUNILVR
ICICIBANK
ITC
INDUSIND BANK
INFY
JINDALSTEL
KOTAKBANK
LT
M&M
MRF
MARUTI
ONGC
ORIENTBANK
RCOM
RELCAPITAL
RELIANCE
RELINFRA
RPOWER
SBIN
SSLT( VEDL)
SUNPHARMA
TATAMOTORS
TATAPOWER
TATASTEEL
UNIONBANK
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
76
256
1228
529
2870
157
113
133
310
594
320
154
3079
444
1010
834
1353
1275
3532
157
863
245
241
1239
1120
79
791
1502
1387
54018
5805
283
126
49
565
1095
578
48
255
200
753
559
79
415
143
75
254
1218
524
2838
155
112
133
307
590
317
152
3055
437
1002
823
1335
1268
3504
156
854
244
241
1228
1073
78
786
1488
1373
53138
5748
280
125
48
560
1086
575
47
254
197
748
556
79
413
142
74
253
1211
520
2817
154
111
132
305
587
315
149
3038
425
993
811
1323
1261
3489
154
845
241
239
1217
1034
77
778
1463
1363
52669
5708
275
123
47
554
1074
569
47
251
195
743
553
78
410
142
73
251
1201
515
2785
152
110
132
302
583
312
147
3014
418
985
800
1305
1254
3461
153
836
240
239
1206
987
76
773
1449
1349
51789
5651
272
122
46
549
1065
566
46
250
192
738
550
77
408
141
72
250
1194
511
2764
151
109
131
300
580
310
144
2997
406
976
788
1293
1247
3446
151
827
237
237
1195
948
75
765
1424
1339
51320
5611
267
120
45
543
1053
560
46
247
190
733
547
77
405
141
TOP 15 ACHIEVERS
SR.NO
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
PREV
CLOSE
SCRIPT NAME
CMP
RAMCO INDUS
179
217
ABAN OFFSHORE
223
261
NIIT TECHNO
408
440
PETRONET LNG
373
400
RAMCO CEMENT
618
660
MINDA INDUS
324
345
TRIDENT LTD.
54
57
JINDAL STEEL
74
79
L&T FINANCE
93
99
GODFREYPHILIPS
1339
1406
D B CORP
381
398
CYIENT LTD.
482
502
BEML LIMITED
908
945
GAIL LIMITED
414
430
ONGC
267
277
//
% CHANGE
+ 21.03 %
+16.86 %
+7.85 %
+7.38 %
+6.75 %
+6.42 %
+6.20 %
+6.04 %
+5.69 %
+5.06 %
+4.54 %
+4.11 %
+4.10 %
+3.95 %
+3.63 %
SR.NO
TOP 15 LOOSERS
SCRIPT NAME
PREV CLOSE
CMP
% CHANGE
ZEE LIMITED
572
528
-7.64 %
IDEA CELLULAR
80
74
-6.63 %
HDFC
1403
1316
-6.24 %
BANK BARODA
163
153
-6.04 %
ADANI PORTS
266
254
-4.68 %
BHARTI AIRTEL
319
305
-4.40 %
HUL
877
842
-3.99 %
AURO PHARMA
855
823
-3.77 %
ICICI BANK
250
241
-3.53 %
10
2793
-2.95 %
11
GRASIM INDUS
1024
995
-2.91 %
12
TATA POWER
80
78
-2.85 %
13
1077
-2.83 %
14
SBIN
258
252
-2.55 %
15
533
520
-2.47 %
credit through alternative sources, help develop bond market and create space for banks
to lend to small and medium enterprises. Simultaneously, the government is working with
IIFCL and Life Insurance Corporation to make credit enhancement facilities available to
such borrowers, which will allow them to easily access the bond market. This will also
help banks diversify their risk. We expect some of the larger banks will take lead in
educating borrowers and also provide support, wherever necessary, said a senior
government official, who did not wish to be identified. Banks will also be asked to
explore takeout financing schemes for exposure to infrastructure sector, the official said.
Some of these issues were discussed in the performance review of state-run banks held
last month. Reserve Bank of India deputy governor R Gandhi had, last month, expressed
concern that the corporate bond market is accessible largely to top-rated borrowers.
Efforts in this respect should be focused on facilitating access of low credit borrowers to
this market, Gandhi had said. As per RBI data, more than 85% of corporate bond
issuance in India is by borrowers with rating of A and above. We want banks to free up
their capital and drive investment. If the borrowers are regulated through markets it will
also instil more discipline in them, said the government official cited earlier. Discussions
are on with all regulators to further develop the bond market, the official said.
No Fiscal worries, Government spending wont falter: Arun Jaitley - The finance
ministry wants ministries to maintain spending in line with budget allocations, dismissing
fiscal concerns that have arisen halfway through the year after the recent spectrum
auction fell short of target and the August deficit number was the highest in seven years.
Any shortfalls will be made up by collections under the just-concluded black money
disclosure scheme besides which stakes held in companies through the Specified
Undertaking of the Unit Trust of India will provide an added cushion without the
government having to scale back spending to meet the fiscal deficit target of 3.5 per cent
of GDP for the fiscal year, a senior finance ministry official said. We want ministries to
spend what has been allocated to them, the official said. We are on track on the fisc.
At the end of August, the fiscal deficit was at 76.4 per cent of whats been budgeted for
the year, the highest since FY 09 for the month, sparking concerns that Finance Minister
Arun Jaitley may struggle to meet the target. The government will get Rs 32,000 crore
from spectrum auction this year against an anticipated Rs 64,000 crore while the seventh
pay commission award is expected to cost more than what has been set aside.
GST lends more weight to India's 8% growth projection: S&P - : Calling Goods and
Services Tax as the most important structural reform till date by the Modi government,
S&P Global Ratings today said the passage of the indirect tax law gives it additional
conviction of India clocking 8 per cent growth in the next few years. "India's GST
passage gives us additional conviction around our 8%-ish GDP growth forecast over the
next few years," it said in a report titled 'Asia-Pacific steadies while China goes silent'.
The rating agency had last month projected India to clock a "steroid-free" growth of 8 per
cent in coming years. "The GST passage is arguably the most important structural reform
to date by the Modi government and will improve efficiency, cross-state trade and tax
buoyancy," it said today. It saw a reasonably firm pick-up in Asia-Pacific's macro
momentum indicators, with pick-up in retail sales offering the clearest sign in most of the
region's economies.with pick-up in retail sales offering the clearest sign in most of the
region's economies. This, it said, stems from rising income, which in turn is part of the
region's evolving growth dynamics, with consumption playing a larger role.
Growth remains subdued and outlook is clouded from economic and political
sources: Arun Jaitley - The recovery from the global financial crisis has not been as
healthy as we would have liked. Growth remains subdued and the outlook is clouded by
uncertainties emanating from both economic and political sources. Against this backdrop,
we also broadly agree with the way forward proposed in the Managing Directors Global
Policy Agenda. We particularly welcome the focus on measures to make growth more
broad based. We support the proposals for identifying policy space. We believe that the
IMF represents an unparalleled pool of economic knowledge and experience and has a
very important role to play in advising its membership on the way forward. This is
particularly true of those members whose capacities of economic policy formulation and
implementation are less developed. However, the IMF also needs to continue working on
removing perceptions of lack of evenhandedness. The Funds smaller members should be
confident that they are considered as important as the larger ones, and Fund conditionality
in programs is not unnecessarily burdensome for them.
Chairman, monetary policies in advanced economies have stayed accommodative for an
unprecedentedly longtime. In todays interconnected world, these policies inevitably
produce spillovers to EMDEs. We have consistently maintained that monetary policies in
advanced economies should be mindful of the risks caused to EMDEs. We would expect
that while the IMF analyzes the implications of low and negative interest rates, it should
also analyze the implications of these rates for EMDEs. We look forward to the IMFs
work to better understand the drivers of the slowdown in productivity growth. We
understand the Funds advice to commodity exporters for adjustment and diversification.
However, for a country to diversify its economy over the course of a few years is not an
easy task, particularly at a time when global demand is subdued. Therefore, we would
like the Fund to be more concrete in its advice for diversification, with a set of focused
recommendations for action, which are consistent with a countrys resources and
capabilities. Chairman, with inward looking policies finding support of a significant part
of the population in some countries, the Funds call for and focus on international
cooperation are timely. As the Global Policy Agenda mentions, such cooperation should
cover diverse areas like trade integration, financial regulatory reform and managing
spillovers. Recently, the Funds work plan has expanded to cover areas where the Fund
does not have as much expertise as it has in macroeconomic policies. These include
policies to deal with the impact of climate change, foster financial inclusion, tackle
growing inequality and so on. The Fund would do well to collaborate with the relevant
international organizations as it takes on these work-streams, while also making efforts to
enhance its in-house capabilities through training and recruitment Finally, Chairman, let
me say that we are somewhat disappointed that the deadline for completing the 15th
Review will be pushed back to the 2019 Spring Meetings. Given that there is broad
agreement on maintaining the current overall lending capacity of the Fund and that the
Funds resource pool is excessively tilted toward borrowed resources, there is a dire need
for increasing quotas. Recent work by the Fund also points to the need for realigning
quota shares to reflect the changed economic realities. All this can be achieved as part of
the 15th Review. Delays in General Reviews of Quotas erode the Funds legitimacy and
credibility, and are against the provisions of the Articles of Agreement. I do hope that the
deadlines that will now be set for completing the 15th Review, including agreement on a
new quota formula as the basis for realignment of quota shares, will be honored and
adhered to in letter and spirit. It is also important that the new quota formula should give
more weight to PPP GDP to better reflect the true economic strength of EMDEs.
Industrial output contracts 0.7 year-on-year in August - Indias industrial prodution
fell 0.7% in August, slighlty slower than 2.5% decline in July. Data released by the
statistics office showed a 0.3% fall in manufacturing production in August and a sharp
5.6% decline in mining output compared with a 0.8% growth in July. Manufacturing as a
sector has the highest weight in the Index of Industrial Production. The pace of electricity
generation marginally improved 0.1% compared with moderation in the previous month.
July IIP reading was revised to a 2.5% contraction, compared with the 2.4% decline
reported earlier. Capital goods output nosedived 22.2% July. It has been falling for the
last few months. The decreased pace of slowing industrial activity was evident in seven
out of the 22 industry groups in the manufacturing sector in August- a marked
improvement from July. Consumer goods production rose 1.1% in August with the output
of consumer non-durables an indicator of rural demand rising a mere 0.1% and that
of consumer durables a gauge of urban demand, rising 2.3%.
Industrial production contracted for the second straight month by 0.7% in August. The
pace of fall decelerated as the decline was an eight month low of 2.5% in July.
Investments into domestic capital markets through participatory notes rose to the highest
level in five months at Rs 2.16 trillion in August.
Stressed loans in India's banking sector crossed USD 138 billion in June, an increase of
nearly 15% in just six months that suggests a state clean-up effort will take longer and
cost more than expected.
India's gold imports declined by 58.96% to 270 t from January to September from 658 t
that were shipped in during the corresponding period of last year.
The year 2016 is set to be a record-breaking year for Indian IPO market as 50 firms have
entered Dalal Street with initial share-sale offers to garner USD 2.93 billion and an
impressive pipeline is already in place for the coming months.
The government will have to raise Rs. 320 billion more to meet the fiscal deficit target of
3.5% of gross domestic product for 2016-17, as it will get just half of the Rs. 640 billion
it had budgeted for 2016-17 from spectrum sale.
The Finance Ministry is likely to finalise contours of listing of public sector general
insurance companies in a couple of months.
Moving fast on its ambitious waterways project, the government has said it will augment
the process of development for 36 waterways in the first phase and soon float tenders to
invite bids for the project.
The mines auction, which kicked off earlier this year, is now pulling investors in hordes
as 10 companies snapped up 16 mines, translating into a revenue of close to Rs. 595
billion for states.
Singapore is seeking more time to revise the two-decade-old tax treaty with India, saying
its investors need more time to shift to source-based taxation.
TOP CORPORATE NEWS ONGC Limited has signed a preliminary pact to acquire a stake and operate the KG
Basin block of Gujarat State Petroleum Corp. , which had announced a major natural gas
discovery and spent USD 3 billion to develop it.
Idea Cellular Limited acquisition of airwaves in this years auction will result in a Rs.
10 billion increase in planned capital expenditure for the year.
The government, looking to get IDBI Bank Limited stalled disinvestment plan moving
again, has instructed the lenders management to bring its stake down to 52%.
Adani Transmission Limited has completed the acquisition of the GMR Energy
transmission assets, which it bought in July this year.
Reliance Defence and Engineering Limited, a subsidiary of Reliance Infrastructure
Limited, has signed a memorandum of understanding with ALLRIG USA for services in
the oil and gas sector in India and the south-east region.
Mahindra & Mahindra Limited became the first Indian company to announce its
internal carbon Price of USD 10/t of carbon emitted.
Standard Chartered Private Equity has increased its stake in Redington India by
acquiring 3.48% shares in the company, taking up the total shareholding to 15.41%,
worth over Rs. 1.50 billion.
Reliance Communications Limited said Bombay High Court has approved its deal to
acquire Russian conglomerate Sistema's Indian telecom unit, Sistema Shyam Teleservices
Limited, that operates under the MTS brand.
The government is likely to launch disinvestment in NMDC Limited, NALCO and
MOIL Limited in the January-March quarter of the current fiscal, which could fetch
about Rs. 60 billion to the exchequer.
Oil India Limited has received environment clearance for Rs. 2.20 billion development
drilling project in Jaisalmer district of Rajasthan.
Ajanta Pharma Limited said its new formulations facility at Guwahati will be
commercialised before March 2017.
Jubilant Life Sciences Limited has received the final approval from the US health
regulator for Darifenacin Extended-Release Tablets, used for the treatment of urinary
incontinence.
Granules India Limited has received approval from the US health regulator for antiinflammatory drug Ibuprofen tablets, in the US market.
Bharti Airtel Limited has relaunched its MyAirtel app with new Airtel Apps section
that will have a collection of top apps under a single interface, in addition to the existing
selfcare features.
Dr. Reddy's Laboratories Limited has launched Aripiprazole tablets in 2mg, 5mg,
10mg, and 30mg, a therapeutic equivalent generic version of Ablify tablets in the US
market following the approval from the US Food and Drug Administration.
Coal India Limited has tied up with Andhra Pradesh Generation Company for
substituting imported fuel, used for blending purposes, by high quality Ranigunj coal.
The initiative is part of the CILs effort to market Ranigunj coal that has few takers.
As it looks to take on Reliance Jio heads on in providing high-speed broadband internet
services, Bharti Airtel Limited has deployed a technology that will deliver speeds of up
to 100 Mbps on its fixed broadband footprint in 87 cities.
Reliance Broadcast Network is in advanced talks with the Zee Entertainment
Enterprises Limited. The deal is expected to be in the range of Rs. 18-20 billion.
locking up funds at a higher rate for longer periods. By not contracting long-term, highcost funds banks are also playing safe in a falling interest rate regime where customers
avoid borrowing for longer periods.
Indias largest private sector lender, ICICI Bank Limited had tied up with Emirates
NBD a leading banking group in the Middle East to execute transactions in
international trade finance and remittance using blockchain technology. ICICI Bank is the
first few banks globally to exchange and authenticate remittance transaction messages
electronically on blockchain in real time. The usage of blockchain technology simplifies
the process and makes it almost instantto only a few minutes. We have also marked a
milestone by piloting a blockchain network with Emirates NBD as a partner and have
successfully executed cross-border open account trade finance and remittance
transactions, Chanda Kochhar, MD & CEO, ICICI Bank said. Kochhar added that the
emergence of blockchain will play a significant role in banking in the coming years by
making complex bilateral and multi-lateral banking transactions seamless, quick and
more secure
Public sector banks which made losses or experienced sharp dip profit in the last fiscal
could lose their ability to service coupon on additional tier 1 bonds issued under Basel III
capital regulations. rating company Crisil said in a report. A sharp dip in profitability and
mounting losses could wipe out the revenue reserves of some public sector banks, Crisil
said. As many as 13 of the 21 public sector lenders reported losses for fiscal 2016, and
almost half of them could do so again this fiscal, the rating company said. Crisil however
did not divulge the name of the banks which are in risk of defaulting AT1 bond coupon
payment. As on date, 14 banks have Rs 22,600 crore of additional tier 1 bonds
outstanding.
Small finance bank license holder Utkarsh Micro Finance has raised Rs. 395 crore by
selling fresh shares from a clutch of Indian investors which will help it comply with one
of Reserve Bank of Indias conditions to start banking operations. Varanasi based Utkarsh
has sold shares to eight Indian institutional investors which will reduce its foreign
shareholding to 48.5% from 85% helping to comply with RBI norms which stipulate that
foreign ownership in these new banks must be must be at 49% or below. In a press
release on Wednesday Utkarsh said HDFC Ergo General Insurance Co. Ltd, HDFC
Standard Life Insurance Co Ltd, ICICI Prudential Life Insurance Co Ltd, RBL Bank Ltd.,
Shriram Life Insurance Co. Ltd, Small Industries Development Bank of India and local
private equity funds such as Arpwood Investments and Faering Capital haver all bought
stakes in the company. It did not give details of their ownership.
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