19TH FEB 2018

Husains

MARKET WRAP
The benchmark indices ended off day's low but remained under pressure during the day. The
30-share BSE Sensex was down 286.71 points at 34,010.76 and the 50-share NSE Nifty was down
94.30 points at 10,451.20.

The benchmark indices were volatile in the final hour of trade with Sensex trading around 34,
000 and nifty trading below 10,450.

Ambuja Cements, Kotak Mahindra Bank, Dr Reddys Labs, TCS, Infosys and Wipro are the top
gainers on the indices, while top losers are SBI, Tata Steel, Yes Bank, Maruti Suzuki, ICICI Bank,
Eicher Motors and Tech Mahindra.

BROAD MARKET INDICES

INDEX P. Close OPEN HIGH LOW CURRENT %CHANGE

NIFTY 50 10545.50 10596.20 10612.90 10434.05 10452.30 -0.88

NIFTY NEXT 50 29833.75 29967.60 30026.60 29381.55 29501.90 -1.11

NIFTY MIDCAP 50 5200.40 5223.10 5243.15 5116.30 5131.25 -1.33

NIFTY100 LIQ15 4441.15 4361.95 4373.85 4266.15 4376.20 -1.46

Contact No. +91-903-977-7700 www.moneyclassicresearch.com

 ASIAN INDEX
INDEX OPEN HIGH LOW CLOSE %CHANGE
NIKKEI 225 21465 21866 21500 21720 1.18

HANG SENG 31115.4 31145 30817 31115 1.93

TAIWAN 10421.1 10474 10416 10421 0.47

SSE 3199.48 3203.5 3171.4 3199.5 0.45

INDIAN MAJOR SECTORAL INDICES

INDEX P. Close OPEN HIGH LOW CURRENT %CHANGE

NIFTY BANK 25424.35 25511.95 25601.00 25100.90 25163.90 -1.02

NIFTY FIN SERVICE 10560.40 10593.75 10623.80 10436.40 10464.90 -0.90

NIFTY IT 12456.50 12512.75 12687.45 12412.10 12437.90 -0.15

NIFTY PHARMA 9207.50 9231.85 9262.15 9141.05 9180.90 -0.29

Contact No. +91-903-977-7700 www.moneyclassicresearch.com

 STOCK UPDATE
Union Bank has $300-m exposure to PNB fraud case, confident to
receive the payment

"The outstanding exposure related to the incident is approximately USD 300 million and the
bank is fully secured by LoU / LC / other documents," Union Bank said.

Union Bank of India on Friday clarified that it has nearly 17 percent exposure to the transaction
fraud worth USD 1.8 billion (Rs 11,300 crore) detected by Punjab National Bank recently.

The bank said through its foreign branches it has been taking exposure with Punjab National
Bank as counter party under various letters of undertakings (LoU) issued through authenticated
SWIFT message.

The bank has also purchased some buyers' credit assets from Axis Bank through risk participation
as a part of normal international business practice, it added.

"The outstanding exposure related to the incident is approximately USD 300 million and the
bank is fully secured by LoU / LC / other documents," Union Bank said.

PNB, the country's second largest public sector lender, on Wednesday detected fraud
transactions totaling USD 1,771.69 million (approximately) or over Rs 11,300 crore at its Mumbai
branch. This led to the share price tanking 21 percent in previous two consecutive sessions.

Contact No. +91-903-977-7700 www.moneyclassicresearch.com

 STOCK UPDATE
India Inc sees M&A deals worth $15 bn in January
Corporate India's merger and acquisition (M&A) activity witnessed over six-fold increase in year-
on-year deal value to approximately USD 15 billion in January, primarily on account of revived
domestic deal activity, says a report.

In January this year, there were 47 M&A deals worth USD 15,137 million, while there were 45
such transactions worth USD 2,301 million in the same month of 2017, according to assurance,
tax and advisory firm Grant Thornton. The uptick in the deal momentum was primarily on
account of revived domestic deal activity that witnessed over eight-fold increase in deal values.
January recorded three domestic deals valued over USD 1 billion accounting for 98 per cent of
the total M&A deal values, the report said.

Meanwhile, cross-border deal values recorded over two-fold increase on account of three big-
ticket transactions estimated and valued over USD 100 million.

"Deleveraging the asset holding companies and strengthening the market position appeared to
be the motive for the large domestic/merger transactions," said Pankaj Chopda - Director at
Grant Thornton India LLP. Chopda further said debt leveraging, insolvency proceedings and
pressure to strengthen/retain market position will continue to drive M&A transactions in energy
and natural resources, industrials and banking and financial services sectors. The deal activity in
January 2018 more than doubled at 47 deals from 20 deals as compared to December 2017. On
the other hand, values jumped 44 times over December 2017 on account of billion-dollar deals.
January witnessed four deals in the billion-dollar club compared with December 2017, when
nothing happened in this value bracket, the report added.

Contact No. +91-903-977-7700 www.moneyclassicresearch.com