THE NIFTY IS MOVING VERY NARROWLY AND VOLATILE; THE INDEX ENDED ON A NEGATIVE NOTE

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• Benchmark indices ended lower on August 17 with Nifty below 19,400 amid selling across the sectors barring PSU Banks. At close, the Sensex was down 388.40 points or 0.59 percent at 65,151.02, and the Nifty was down 99.70 points or 0.51 percent at 19,365.30. About 1777 shares advanced, 1696 shares declined, and 152 shares unchanged.

• India looks attractive from top down, believes Kotak Institutional Equities CEO Pratik Gupta, as it ranks among a few markets in the world with the economic growth estimated at over 6 percent for the next 10-15 years.

• GE Power on August 17 withdrew its insolvency plea against Bharat Heavy Electricals Limited (BHEL) from the National Company Law Tribunal (NCLT) after the government-owned firm promised to pay Rs 25 crore by September 16.

• HDFC Group on August 17 announced the launch of its life insurance and asset management services at International Financial Services Centre (IFSC) in Gujarat’s GIFT City.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint

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Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.

For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)

Disclosure Appendix

Analyst Certification (For Reports)

Kiran Tahlani, Elite Wealth Limited, kirantahlani@elitestock.com

The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.

As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:

(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and

(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.

For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.

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1. Reports
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