W E E K L Y N E W S L E T T

3rd November 2012

The market edged higher last week on the back of optimism over the reshuffle of Performance of Indices & Sectoral Indices Cabinet on Sunday, 28 October 2012. The strength, however, could not be sustained Week Month Year due to the Reserve Bank of India's unwillingness to lower key interest rates in the INDEX CLOSING Second Quarter Review of Monetary Policy 2012-13 on 30 October 2012. Gains were Change In % also capped as investors were concerned about the impact of Hurricane Sandy in the SENSEX 18755.45 0.70 (0.04) 21.36 US. In the week ended on Friday. The Sensex closed at 18755.45 with gain of 0.70%, and Nifty closed at 5697.70 with gain of 0.59%. AUTO 10690.67 3.90 2.45 31.28 The pace of foreign liquidity in the Indian equity market slowed in October –12 BANKEX 13163.28 (0.41) 0.19 43.81 compared with September— 12. FIIs bought shares worth net `11364.20 crore in BSE IPO 1673.36 0.48 2.96 28.67 October—12. They had purchased shares worth net ` 19261.50 crore in September - CD 7378.03 5.08 6.31 39.62 12. FIIs bought shares worth net ` 93965 crore in calendar 2012 so far. FIIs offloaded CG 11114.67 (1.89) 1.43 37.77 shares worth a net ` 2714.20 crore in 2011. FMCG 5683.80 (0.70) 3.20 40.85 Worried over high budget deficit derailing growth, Finance Minister P Chidambaram on Monday, Oct.29,2012, unveiled a plan of fiscal consolidation during the period of HC 7714.98 3.16 2.48 31.42 the 12th Plan, i.e. from 2012-13 to 2016-17. FM laid out a roadmap to put the IT 5798.83 2.43 (2.09) 0.82 government's fiscal house in order, stressing the need to control expenses and METAL 10315.12 1.07 (2.98) 11.00 generate more revenue as it targets budget deficits of 5.3% of GDP this fiscal year and 4.8% next year. The fiscal deficit stood at 5.8% in the year ended March 31,2012. MIDCAP 6645.45 0.64 0.58 29.41 The plan that Mr. Chidambaram unveiled also envisages bringing down the govt.'s OIL& GAS 8367.88 (0.32) (3.39) 11.14

budget deficit to 4.2% of GDP in the fiscal year ending March 31,2015; 3.6% in fiscal POWER 1987.73 0.09 (2.98) 10.68

2016 and 3% in fiscal 2017. The announcement of the fiscal consolidation plan PSU 7231.74 (0.42) (2.48) 13.62 comes at a time when there are concerns that the government may increase its expenditure on social-sector programs in its budget for the next fiscal year through REALTY 1812.78 0.69 (1.85) 31.78 March 2014 as it prepares for next general elections, due before May 2014. SMLCAP 7064.38 (0.31) 0.26 27.28 The RBI in its second quarter monetary review, has decided to reduce the CRR of by TECk 3366.09 2.56 (1.52) (0.42) 25 basis points from 4.5% to 4.25% effective the fortnight beginning 3 November

2012. As a result of this reduction in the CRR, around `175K crore of primary liquidity will be injected into the banking system. The central bank kept its key policy rates the NIFTY 5697.70 0.59 (0.10) 23.21 repo rate unchanged at 8% citing high inflation. The RBI reduced the baseline BANK NIFTY 11460.45 (0.42) 0.03 43.82 projection of GDP growth for 2012-13 to 5.8%. Earlier, RBI had revised GDP growth CNX ENERGY 7828.30 0.09 (3.01) 12.34 downwards to 6.5% from 7.3% after First Quarter Review of July 2012. RBI said that CNX FMCG 14502.25 (0.96) 2.59 41.94 the persistence of inflationary pressures even as growth has moderated, remains a key challenge. Of particular concern is the stickiness of core inflation i.e. non-food CNX INFRA 2540.65 (0.17) 0.58 19.57 manufactured products inflation, mainly on account of supply constraints and the cost CNX IT 6163.45 2.29 (2.38) 0.40 -push of rupee depreciation. RBI said that inflation is expected to rise somewhat in Q3 CNX MIDCAP 7876.10 1.10 0.45 28.87 2012 before beginning to ease in Q4 2012. The RBI has raised the baseline projection CNX MNC 5723.40 (0.11) 0.33 26.70 for headline WPI inflation for March 2013 to 7.5% from 7% indicated in July 2012. India's seasonally adjusted Purchasing Managers' Index (PMI) for the manufacturing CNX NIFTY JNR 11080.40 1.34 0.34 32.97 sector came in at 52.9 in October, slightly above 52.8 recorded in September, CNX PHARMA 5736.80 3.51 2.12 25.36 signaling a further improvement in the health of the manufacturing sector. A PMI CNX PSE 2882.50 (1.23) (4.94) 8.62 reading above 50 indicates expansion in the sector, while one below suggests decline. India's eight core industries growth having a combined weight of 37.90% in the Index CNX PSU BANK 3236.65 (0.09) (3.94) 23.91 of Industrial Production (IIP) rose to 5.1% in September from the 2.5% in last CNX REALITY 239.50 0.48 (2.40) 30.02

September, mainly due to double digit growth witnessed in the production of coal, CNX SERVICES 6736.45 0.89 (2.46) 20.27 WEEKLY NEWS LETTER petroleum refinery products and cement. CNX 500 4510.25 0.67 0.13 25.36 FDI in India during August declined by around 20% t to $2.26 billion from the $2.83 billion for the same month in the preceding year, after registering increase in the INDIA VIX 13.66 (3.87) (15.47) (49.61) inflows in the previous month. In July, the foreign inflows were up by around 60%. MIDCAP 50 2226.45 1.25 (1.15) 26.98 On Global front, China’s Manufacturing Purchasing Managers' Index (PMI) rose to 50.2 in October 2012 from 49.8 in September. A number above 50 indicates expansion. Week Gainer & Losser The U.S. Unemployment Rate inched up to 7.9% in October 2012 from 7.8% in Gainer % Loser % September. The U.S. Initial Jobless Claims fell by 9K for the week ended October 27, 2012 to 363K from its previous week. WIPRO 8.50 BHEL (5.36)

MARUTI 7.34 BPCL (3.43) The Indian market may continues to trade in range, however the coming week may be volatile as US Presidential election scheduled on November 12. And the 18th IDFC 6.62 ONGC (3.22) Communist party Congress which officially kicks off China’s once in a decade leader- ship change begins on November 8, 12. The Chinese president Hu Jintao is expected DRREDDY 6.25 BANKBARODA (2.66) to hand over the role of party chief to their apparent Zi Jinping. CIPLA 6.21 JPASSOCIAT (2.04)

On macro front Markit Economics will unveil HSBC India Services purchasing Weekly Currency movement managers' index (PMI) for October 2012 on Monday, November 5, 2012. DOLLAR INDEX And next batch of corporate earnings Cipla announces Q2 results on Monday, 5 November, Tata Power and Reliance Infrastructure unveil Q2 results on Tuesday, USDINR 53.66 0.14 6 November 2012. Hindalco Industries and its US unit Novelis Inc. unveil Q2 results on the same day. Bharti Airtel and Tata Motors unveil Q2 results on Wednesday, 7 EURINR 69.24 0.25 November 2012. Sun Pharmaceuticals Industries and ONGC announce Q2 September 2012 results on Thursday, 8 November 2012. Rescheduled on November 6,2012 GBPINR 86.37 0.15 Ranbaxy Laboratories unveils Q3 September 2012 results on the same day. Tata Steel, Jindal Steel & Power, Coal India, State Bank of India and BPCL unveil Q2 results JPYINR 66.85 0.40 on Friday, 9 November 2012. *Source: BSE, NSE, BI, Capital Market & rbi.org.in URJA INVESTMENT PTE LTD For Private Circulation Please read the disclaimer at the end of this report 1 3rd November 2012

TECHNICAL SUMMARY During the last week Nifty traded with high volatility, indices breached its previous three week consolation range and faced heavy selling pressure after RBI kept unchanged key policy rates in its half yearly monetary policy review on last Tuesday. And registered low of 5583.05 level and rebounded from there and registered high of 5711.30 levels. Nifty closed at 5697.70 level with gain of 0.59%. On sectoral front CD, Auto, HC, and IT indices performed well and was up by 5.08%, 3.90%, 3.16% and 2.43%. On the other side CG and FMCG indices performed badly and closed down by 1.89% and 0.70% respectively NIFTY (5697.70)

Categorically we have mentioned in our daily and weekly edition that close Daily Chart below 5630 would trigger resumption of short term process so as to test the NSE Nifty [N59901] 5696.35, 5711.30, 5682.55, 5697.70, 625572736 0.93% Price Swing(3.00) Boll(S,20,2.00) Lnr IRIS

supports placed between 5585 & 5447. during the week on daily chart Nifty 5880 5815.35 has given bearish breakout from the Head & Shoulder pattern and registered 5820 low of 5583.05. However, the Nifty took support at the 38.2% Fibonacci 5760 23.60 5700 5673.83 retracement level of its up move from 5215 to 5815 (5586) and has moved 5640 38.20 5580 past above 5638 with an upside gap on the daily chart 5682 & 5649. In the 5583.05 5586.28 50.00 5520 5515.53 process, the Nifty has negotiated past its Daily Middle Bollinger Band currently 5448.60 61.80 5460 5444.77 5400 placed at 5674 . On the Weekly Chart, the Nifty has managed to sustain above 5348.55 the February 2012 High of 5630 on a Close basis. These are signs of 5340 2 5280 underlying strength. 5220 5215.706

5160

On daily chart the momentum indicator RSI has bouncing back from the after 5100 5020.15 5040 testing the support line and now intact with positive crossover and placed at 5032.40 4980

56. RSI having next resistance level at 60 we may witness some selling 4920 pressure at this level. 4860 4800

4770.350 4740 The upward sloping trend line connecting the lows of 4770 & 5032 is currently Source : www.SpiderSoftwareIndia.Com placed at 5212. Hence, multiple short term supports are placed around 5200 RSI(14,E,9) 70.00 which makes it a key short term support level. Major concern being indices 60.00 facing resistance from rising channel since June 2012 low (4770) which 50.00 40.00

projects strong resistance for current upmove around 5755 - 5775 levels in 30.00 12:M 7 J J A S O N coming week. Dly Weekly Chart On weekly chart Indices has formed Hammer like candle stick pattern, which NSE Nifty [N59901] 5665.20, 5711.30, 5583.05, 5697.70, 2954282752 0.59% is bullish reversal pattern, but it require confirmation follow through buying Price Avg(S,200) Avg2(E,20,E,50) Lnr IRIS actions above its head then the Hammer will activate. And decisive close 5900 above 5730 - 5755 range would negate the immediate weakness while a 5800 5700 daily close above 5815 would confirm resumption of medium term up move. 23.60 And in such scenario indices may initially test 5951 which is 78.6% fibonacci 5630.57 5600 38.20 retracement level of the fall from 6338 to 4531. 5516.26 5500 50.00 5423.88 5400 61.80 The previous week low of 5583 will act as immediate support which is 5331.49 5300

immediate swing low any violation of such level on closing basis would see 5200

time wise correction and Nifty may go further down side towards 5500 levels 5100

WEEKLY whichNEWS LETTER is 50% retracement of September rally from 5215 - 5815. The Bull 8 5000 remain in control as long as such support is held on closing basis. 4900

On higher side indices has immediate resistance range at 5730 - 5755 a 4800

sustained closing above such resistance range on closing base will see index 4700

testing 5950 which may act as a crucial resistance level for the current up 4600 Source : www.SpiderSoftwareIndia.Com move being the 78.60% retracement of the entire decline from November RSI(14,E,9)

2010 high of 6338 to December 2011 low of 4531, hence we advised to book 60.00

profit on such higher rally rather than creating the fresh long. 50.00 On the daily chart the 50 (5557) x 200 (5294) positive crossover which known 40.00 30.00 as golden crossover still presence indicating that the Nifty short term trend RocP(10,E,9) 15.00

continue to remain positive. 7.50 On weekly chart Oscillators RSI placed at 64.21 level , while ROC placed above 0.00 signal line above the zero line indicates losing strength at higher level. 11:J F M A M J J A S O N D 12:J F M A M J J A S O N Wkl Long term outlook in the market would continue to remain positive as long as

Nifty sustains above the elongated trend lines support of 4950 while 200 SMA in weekly chart remains at 5038

To sum up, Daily close above 5730 - 5755 range would negate the immediate weakness while daily close above 5815 would confirm the resumption of the medium upmove. The immediate support is place at 5585 while key short term supports are placed between 5527 and 5447.

*Source: Urja Research, IRIS, BI URJA INVESTMENT PTE LTD For Private Circulation Please read the disclaimer at the end of this report 2 3rd November 2012

WEEKLY PIVOT TABLE SIMPLE MOVING AVERAGE Symbol S2 S1 Pivot Point R1 R2 55 DAYS 100 DAYS 200 DAYS SENSEX 18247 18501 18648 18902 19048 18276 17779 17453 NIFTY (Spot) 5536 5617 5664 5745 5792 5542 5392 5294 BANKNITY FUTURE 5565 5653 5700 5787 5835 5560 5407 5308 NIFTY FUTURE 10992 11264 11475 11747 11958 10935 10665 10370

NIFTY 50 STOCKS

ACC 1343 1375 1398 1431 1454 1386 1334 1293 AMBUJACEM 195 201 206 212 218 199 187 172 ASIANPAINT 3792 3847 3897 3953 4003 3828 3789 3551 AXISBANK 1133 1174 1207 1248 1281 1095 1069 1070 BAJAJ-AUTO 1747 1823 1864 1940 1981 1742 1659 1634 BANKBARODA 684 714 740 769 795 713 704 719 BHARTIARTL 257 266 275 284 293 262 281 305 BHEL 209 219 232 242 255 229 224 234 BPCL 326 331 340 345 354 347 353 332 CAIRN 327 331 335 339 343 337 331 339 CIPLA 343 360 370 388 398 368 349 334 COALINDIA 336 343 350 358 364 360 354 341 DLF 190 198 203 211 216 212 205 201 DRREDDY 1645 1710 1746 1811 1848 1692 1663 1673 GAIL 335 347 357 369 379 370 359 353 GRASIM 3197 3279 3362 3445 3528 3195 2957 2772 HCLTECH 594 604 613 623 631 576 539 508 HDFC 733 749 761 778 789 747 714 689 HDFCBANK 617 624 634 641 652 614 596 556 HEROMOTOCO 1785 1865 1908 1988 2031 1856 1925 1938 HINDALCO 107 112 116 121 124 113 115 122 HINDUNILVR 522 528 536 542 550 532 493 445 ICICIBANK 1012 1046 1067 1100 1121 1010 964 901 IDFC 150 159 164 173 178 147 141 134 INFY 2269 2329 2367 2426 2464 2455 2406 2521 ITC 271 277 283 290 296 272 264 243 JINDALSTEL 359 374 387 402 415 390 402 458 JPASSOCIAT 80 85 88 93 96 80 78 75 KOTAKBANK 578 595 608 626 639 608 593 571

LT 1559 1617 1669 1727 1778 1529 1461 1371 WEEKLY NEWS LETTER LUPIN 554 567 574 586 593 580 569 541 M&M 848 883 902 937 956 815 763 719 MARUTI 1288 1377 1427 1516 1566 1289 1224 1244 NTPC 162 165 168 171 173 169 164 165 ONGC 255 260 269 274 282 279 278 273 PNB 695 725 747 777 799 757 770 807 POWERGRID 111 114 116 120 122 119 116 111 RANBAXY 509 524 533 548 557 539 518 493 RELIANCE 778 793 804 819 830 812 777 768 RELINFRA 450 469 483 501 516 497 506 521 SBIN 1991 2072 2138 2219 2285 2074 2093 2108 SESAGOA 161 169 172 180 184 174 181 190 SIEMENS 664 684 695 714 725 687 690 724 SUNPHARMA 663 680 694 711 724 684 653 604 TATAMOTORS 235 253 262 280 289 258 245 256 TATAPOWER 103 105 106 108 109 101 100 101 TATASTEEL 383 393 398 408 414 395 401 414 TCS 1286 1309 1323 1346 1361 1322 1282 1226 ULTRACEMCO 1943 1981 2014 2052 2085 1870 1728 1569 WIPRO 324 344 359 379 393 365 368 394 URJA INVESTMENT PTE LTD For Private Circulation Please read the disclaimer at the end of this report 3 3rd November 2012

Institutional Activities Net FIIs & MFs Fund FLows (` In Crs.) 1262.08

970.18

527.49 416.4 270.00 306.23 63.50

(25.40) (35.50) (104.60)

(157.30) (161.20)

(1387.59)

29-Oct-12 30-Oct-12 31-Oct-12 1-Nov-12 2-Nov-12

FIIs Equity FIIs Derivative MFs EQUITY

Global indices performance of last week

NASDAQ (0.19)

DJIA (0.11)

S&P 0.16

NIFTY 0.59

SENSEX 0.70

FTSE 1.06

NIKKEI 1.32 WEEKLY NEWS LETTER

CAC 1.67

DAX 1.83

SHANGHAI 2.46

HANGSENG 2.63

-1.00 -0.50 0.00 0.50 1.00 1.50 2.00 2.50 3.00 Change in % *Source: IRIS & SEBI URJA INVESTMENT PTE LTD For Private Circulation Please read the disclaimer at the end of this report 4 3rd November 2012

Economic Indicator

GROSS DOMESTIC PRODUCTION (GDP) INDIAN INDUSTRIAL PRODUCTION

12.0% 9.8 10.0 9.4 9.5 10.0% 9.5% 9.0 8.3 8.5 8.3 8.5 8.0% 8.0 7.6 7.8 7.7 7.5 7.4 6.2% 6.0% 7.5 6.9 6.0% 5.3% 7.0 (%) 3.7% 4.1% 6.5 5.9 6.1 4.0% 3.4% 6.0 5.5 2.5% 2.7% 2.4% 5.5 5.3 2.0% 5.0 1.1% 4.5 0.1%

4.0 0.0%

11 12

11 11 12

11 12

11 11

- -

-2.0% -

Jul

Jan

Jun

Oct

Apr Apr

Feb

Sep

Dec

Aug

Nov

Mar

May May

3Q FY 09 FY 3Q 10 FY 2Q 11 FY 2Q 12 FY 1Q 13 FY 1Q 1Q FY 10 FY 1Q 10 FY 3Q 10 FY 4Q 11 FY 1Q 11 FY 3Q 11 FY 4Q 12 FY 2Q 12 FY 3Q 12 FY 4Q 4Q FY 09 FY 4Q -4.0% -3.5% Quarterly GDP Trend -6.0% -5.0%

WPI INFLATION RBI POLICY RATE

9.00

8.00 Repo rate, 8.00

7.00

Reverse Repo rate, 7.00 6.00

CRR, 4.75 5.00

4.00

12 11

12 12

- -

- - -

Jul

Jan

Jun

Oct

Feb

Apr

Sep

Dec

Aug

Mar

May May Nov.

Fiscal Deficit (% of GDP) WEEKLY NEWS LETTER Centre Centre+States 9.6 8.8 8.1 7.2 6.4 6.0 5.9 5.4 4.7 4.1 3.3 2.5

FY 07 FY 08 FY 09 FY 10 FY 11 FY 12

URJA INVESTMENT PTE LTD For Private Circulation Please read the disclaimer at the end of this report 5 3rd November 2012

Forthcoming Corporate Action Company Name Ex Date Record Book Closure Date Purpose Date From To CAIRN 05-Nov-12 06-Nov-12 - - Interim Dividend ` 5.00 AARTIIND 05-Nov-12 06-Nov-12 - - Interim Dividend ` 1.50 AARTIDRUGS 05-Nov-12 06-Nov-12 - - Interim Dividend ` 3.00 SASKEN 06-Nov-12 07-Nov-12 - - Interim Dividend ` 2.50 MARICO 07-Nov-12 08-Nov-12 - - Interim Dividend CROMPGAV 07-Nov-12 08-Nov-12 - - Interim Dividend MRF 07-Nov-12 08-Nov-12 - - 2nd Interim Dividend ` 3.00 BBTC 08-Nov-12 09-Nov-12 - - Face Value Split From ` 10.00 To ` 2.00 THINKSOFT 08-Nov-12 09-Nov-12 - - Interim Dividend ` 3.00 POLARIS 08-Nov-12 - 10-Nov-12 19-Nov-12 AGM And Dividend ` 3.00 GODJCP 08-Nov-12 09-Nov-12 - - 2nd Interim Dividend KSBPUMPS 08-Nov-12 09-Nov-12 - - Interim Dividend ` 1.00 TRITURBINE 08-Nov-12 09-Nov-12 - - Interim Dividend ` 0.25 FINANTECH 08-Nov-12 09-Nov-12 - - 2nd Interim Dividend ` 2.00 VISAKAIND 08-Nov-12 09-Nov-12 - - Interim Dividend ` 1.00 GDL 08-Nov-12 10-Nov-12 - - Interim Dividend MADRASCEM 09-Nov-12 12-Nov-12 - - Interim Dividend Quarterly Result Alkali Metals, Allahabad Bank, Amara Raja Batt, Ceat, Cipla, Cochin Minerals, Future Capital, Garnet Intl, Garware Wall, Gateway Distri, GMM Pfaudler, Guj Gas, Hind Copper, Honda Siel, Ind Cap, India Cements, Ingersoll Rand, 5-Nov-2012 Jayshree Tea, JCT Electronics, Jubilant Life, Lloyd Electric, Parshwanath, Patel Integrate, Pentamedia, Relaxo Reliance Power, Solar Ind, Sonal Adhesives, Source Natural, Splash Media, Tech Mahindra, Texmaco Rail, Vijaya Bank, Voltamp Trans, Voltas, Walchand People, Wanbury, Wheels, Windsor ABB, AndhraBank, Archies, BanswaraSyntex, Bosch, Britannia, Canara Bank, Central Bank, CenturyPly, Chambal Fert, ChennaiPetro, DenaBank, Edelweiss Fin, Essar Shipping, Fame India, Gabriel India, GIPCL, GNFC, Godfrey Phillip, GujAlkali, HCLInfo, Hikal,Hindectifiers, Hindalco, IL&FSTrans, Indian Hotels, ITHL, JBFIndustries, Manugraph 6-Nov-2012 Ind, MothersonSumi, OilIndia, RELCAPITAL, RELINFRA, ReproIndia, Seamec, Shree Digvijay, TataComm, Tata Power, TVS Electronics, Usha Martin, Vardhman Text, Welspun Project, West Coast Pape, Zenith Health, Zuari Global, Zydus Wellness Advanta, Andhra Petro, Ashtavinayak, Asian Oilfield, AstraZeneca, Balmer Lawrie, Balrampur Chini, Bharti Airtel, Bombay Dyeing, Cadila Health, Emami, FACT, GSPL, GULFOIL, Hanung Toys, Hinduja Global, Howard Hotels, 7-Nov-12 Hubtown, India Glycols, Indraprastha Gas, Insecticides In, Jubilant Food, Kesoram, KFA, KRBL, Mangalore Chem, Marg, McDowell Holdg, NMDC, OnMobile, Puravankara, Radico Khaitan, Ravalgaon Sugar, Saurastra Cemen, Tata Motors, Texmo Pipes, UCO Bank

ABC Bearings, AdityaBirlaNuvo, Alembic, Allcargo, Alstom T&D, Amforge, Ashok Leyland, Clutch Auto, Cummins, WEEKLY NEWS LETTER Diamond Power, Dion Global, Expo Gas Cont, FIEM Ind, Filatex India, Finolex Cables, Gammon Infra, Gayatri Sugars, Genus Power, Godrej Ind, Goodyear, Guj Sidhee Cem, Hathway Cable, Jindal Photo, Mah Seamless, 8–Nov-12 Manappuram Fin, MMTC Ltd, Monnet Ispat, Natco Pharma, NCC, ONGC, Parsvnath, Pfizer, PTC India, Ranbaxy Labs, Reliance Comm, Ruchira Papers, SAIL, Shipping Corp, Sun Pharma, Talbros Auto, Taneja Aerospac, United Brewerie, Unity Infraproj, Welspun Global, Welspun India, Zicom Security ABGShipyard, Ahmednagar Forg, Aksh Optifibre, AlliedDigital, AmrutanjanHeal, AmtekAuto, AmtekIndia, Anant RajInd, AparInd, ApolloHospital, AstralPolyTec, Atlanta, AurobindoPharm, BharatiShipyard, BPCL, C&CConstruct, CESC, CinemaxIndia, CoalIndia, CoralLabs, Cox&Kings, DenNetworks, Educomp, EicherMotors, EKC, Electrosteel, EmamiInfra, ESSDEE, EssarOil, EvereadyInd, FortisHealth, GitanjaliGems, GlaxoSmithKline, GraphiteIndia, HaldynGlass, HDIL, HPCL, InfiniteComp, IOC, ITI, JaiCorp, JindalSteel, KempandCo, KemrockIndus, KNRConstruct, 9-Nov-12 LancoInfratech, LokHousing, LovableLingeri, MaxIndia, McnallyBhEngg, MOIL, Monnet, MonnetInd, MoserBaer, MTNL, Mukand, NeyveliLignite, NuTekIndia, OrchidChemical, OudhSugar, PantaloonRet, PatelEng, Pipavav Defence, Piramal Glass, PlethicoPharma, PowerFinance, PunjLloyd, RanaSugars, ReiAgro, SadbhavEng, Sakthi- Sugars, SBI, ShriDineshMil, SREIInfra, STCIndia, SterlingBio, Subros, SunTVNetwork, SuzlonEnergy, TakeSolutions,

URJA INVESTMENT PTE LTD For Private Circulation Please read the disclaimer at the end of this report 6 3rd November 2012

Economic Calendar Date Importance IST Location Indicator Unit Forecast Previous Actual 05-Nov-12 High 13:30 Euro Zone Spanish Unemployment Change K 90.3 79.6 Medium 15:00 Euro Zone Sentix Investor Confidence -20.7 -22.2 High 15:00 Britain Services PMI 52.0 52.2 High 20:30 USA ISM Non-Manufacturing PMI 54.6 55.1 Medium Day 2 ALL G20 Meetings

06-Nov-12 Low 10:30 Japan Leading Indicators % 91.8 93.2 Medium 12:15 China SECO Consumer Climate -21 -17 Medium 6th-9th Britain Halifax HPI (M o M) % 0.5 -0.4 Medium 13:45 Euro Zone Spanish Services PMI 40.2 Medium 14:15 Euro Zone Italian Services PMI 44.5 Medium 14:30 Euro Zone Final Services PMI 46.2 46.2 High 15:00 Britain Manufacturing Production (M o M) % 0.3 -1.1 Low 15:00 Britain Industrial Production (M o M) % -0.6 -0.5 Low 15:30 Euro Zone PPI (M o M) % 0.3 0.9 Low Tentative Britain 10-y Bond Auction 1.76|1.90 Medium 16:30 Euro Zone German Factory Orders (M o M) % -0.3 -1.3 Medium 20:30 Britain NIESR GDP Estimate % 0.8 Medium All Day USA Presidential Election Medium All Day USA Congressional Elections

7-Nov-12 High 13:30 China Foreign Currency Reserves B 429.5 High 13:45 China CPI (M o M) % 0.3 0.3 Medium 15:30 Euro Zone Retail Sales (M o M) % 0.0 0.1 Medium 16:30 Euro Zone German Industrial Production (M o M) % -0.4 -0.5 Medium 21:00 USA Crude Oil Inventories Mbrl -2.0 Medium 23:30 USA 10-y Bond Auction 1.70|3.3

8-Nov-12 Low 10:30 Japan Economy Watchers Sentiment 40.6 41.2 Low 12:15 China Unemployment Rate % 3.0 2.9 Low 12:30 Euro Zone German Trade Balance B 17.2 18.3 Low 13:15 Euro Zone French Trade Balance B -5.0 -5.3 Medium All Day Euro Zone Euro group Meetings Medium 15:00 Britain Trade Balance B -9.1 -9.8 High 17:30 Britain Asset Purchase Facility B 375 375 High 17:30 Britain Official Bank Rate % 0.50 0.50 High Tentative Britain MPC Rate Statement High 18:15 Euro Zone Minimum Bid Rate % 0.75 0.75 High 19:00 Euro Zone ECB Press Conference High 19:00 USA Trade Balance B -44.9 44.2

WEEKLY NEWS LETTERHigh 19:00 USA Initial Jobless Claims K 373 363 Low 21:00 USA Natural Gas Storage BCF +65 Low 23:30 USA 30-y Bond Auction 2.90|2.5

9-Nov-12 High 7:00 China CPI (Y o Y) % 1.9 1.9 Medium 7:00 China PPI (Y o Y) % -2.7 -3.6 Medium 10:30 Japan Consumer Confidence 39.7 40.1 Medium 11:00 China Fixed Asset Investment ytd/y % 20.6 20.5 Medium 11:00 China Industrial Production (Y o Y) % 9.5 9.2 Low 11:00 China Retail Sales (Y o Y) % 14.4 14.2 Low 12:30 Euro Zone German Final CPI (M o M) % 0.0 0.0 Medium 13:15 Euro Zone French Industrial Production (M o M) % -0.9 1.5 Low 13:15 Euro Zone French Gov Budget Balance B 97.7 Medium 14:30 Euro Zone Italian Industrial Production (M o M) % -1.4 -1.7 Low 15:30 Britain CB Leading Index (M o M) % 0.2 Medium 19:00 USA Import Prices (M o M) % 0.0 1.1 High 20:25 USA Prelim UoM Consumer Sentiment 82.6 82.6 Low 20:25 USA Prelim UoM Inflation Expectations % 3.1 Low 20:30 USA Wholesale Inventories (M o M) % 0.4 0.5

URJA INVESTMENT PTE LTD For Private Circulation Please read the disclaimer at the end of this report 7

DISCLAIMER: This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions.

The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the products that suits them the most. Investment in Stocks has its own risks. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss Incurred based upon it & take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations above.

Recipients of this material should rely on their own investigations and take their own professional advice. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance. Certain transactions - futures, options and other derivatives as well as non-investment grade securities - involve substantial risks and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stocks price movement and trading volume, as opposed to focusing on a companies fundamentals and as such, may not match with a report on a companies fundamentals. All the Rights are reserved.

Registration: NSE - CASH INB230696132 | NSE - FO INF230696132 | BSE - CASH INB010696137

Registered Office: Corporate Office: Central Support Office WEEKLY NEWS LETTER NEWS WEEKLY 8, Matru Mandir Compound Ground Floor, Khatau Building, 151—153, Paradise Complex, 278, Tardeo Road 8/10, Alkesh Dinesh Mody Marg, Sayajigunj, Mumbai - 400 007 Fort, Mumbai - 400 001 Vadodara - 390 005

Branches 3 rd Floor, Shreeji House, ―Manoramaya‖ D - 416, ITC Building, 156/1, Sharada mention, Opp. Gujarat Bhavan, Jagnath Temple Chowk, Majura Gate, 1st Floor, B/h M. J. Library, Dr. Yagnik Road, Ring Road, Opp. Karnataka Bank, Ellisbridge, Rajkot - 360 001 Surat - 395 002 Nr. Minerva Circle, Ahmedabad - 380 006 R V Road, V. V. Puram Bangalore - 560004

URJA INVESTMENT PTE LTD For Private Circulation Please read the disclaimer at the end of this report 8