Wednesday, March 11, 2015

   

Strength and weakness! Another thud at start!

Dwell not upon thy weariness, thy strength shall be according to the measure of thy desire. - Arab Proverb

The market has been in struggle zone after it surged to new highs intra-day last week after a surprise rate hike. The Nifty and Bank Nifty are finding it difficult to even close in the green. The strengthening of the dollar has been taking its toll on most emerging markets too. Commodities are going for a toss and a surging US dollar has pulled oil prices on Tuesday to their lowest settlement for the month of March.

The outlook is a weak start. Sentiment could improve as Asian markets are staging a recovery. Nifty support is at 8640 levels. Global cues are subdued again. Dow crashed 1.85% while S&P slumped 1.7%. Nasdaq was down 1.67%. Asian market are mixed again with Nikkei higher and Hong Kong's Hang Seng lower. China's Shanghai index is also higher.

The Lok Sabha passed the land acquisition Bill on Tuesday but things could get difficult in the Rajya Sabha. The Opposition has stalled passage of the mines & minerals Bill. Housing companies and infra firms will be in focus. Reforms could take a back seat as Opposition is set to stall the government’s plan to call for a joint sitting.

The country’s current account deficit (CAD) narrowed to USD 8.2bn or 1.6 percent of GDP in Q3 of 2014-15 from USD 10.1 billion or 2 percent of GDP in Q2. The reduction in the CAD in Q3 2014-15 was primarily on account of net exports of services which picked up in q-o-q terms on the back of an improvement in net earnings.

Maruti Suzuki could shed weight as it is recalling over 33,000 units of the Alto to fix a problem with the right-hand door.

In a first, bid levels for the spectrum auction fell by around Rs 2,000 crore to close Tuesday at Rs 92,000 crore, as steep prices in the key 900 Mhz band forced operators to reduce the amount of airwaves they were vying for, thus leaving some spectrum unsold and reducing revenue assured for the government, says a report.

Cairn Energy said it is engaged with the Indian Government to resolve a tax dispute that has stalled sale of its 10 per cent stake in Cairn India Ltd and led to 40 per cent job cuts.

According to SIAM data, the domestic passenger car sales was up by 6.85% to 1,71,727 units in February this year. The motorcycle sales in last month were down by 8.22% to 7,74,122 units from 8,43,436 units in the same month previous year, SIAM data says.

L&T’s Metallurgical and Material Handling (L&T-MMH) business has secured orders worth Rs 1242 crores across various business segments during Q4 of FY 14-15.

Bharti Airtel stock hits 10% upper circuit at Rs. 369. Bharti Airtel is planning to double its 4G network by next fiscal, according to a media report.

Shares of Persistent Systems was trading lower by 9% at Rs. 848 after company turned ex-bonus.The company announced a 1:1 bonus recently.

Adani Enterprises surged to a high of Rs. 680 on hopes of striking more deals for supply of coal to overseas mines.

ITC stock ended flat at Rs. 338 on reports that company is scouting for more acquisitions to scale up its non-cigarette fast-moving consumer goods (FMCG) business.

TCS has extended its south-bound journey for the fourth straight trading session today. The stock was down 0.01% at Rs. 2642.

Jubilant Industries has jumped 20% its maximum daily upper limit at Rs. 81 on the back of heavy volume at the NSE counter.

KNR Constructions Ltd stock was up 2% at Rs. 450 after company has received its First International Orders worth of Rs. 515.33 Crores.

Shares of HSIL was flat at Rs 412 after the company announced the QIP issue price at Rs. 412.53 per equity share.

Ashoka Buildcon is reportedly panning to buy out a controlling stake in Jaora Nayagaon Toll Project in Madhya Pradesh, according to a television report. The stock ended 3% lower at Rs174.

Monnet Ispat and Energy stock rallied 9% at Rs. 71.Report said that the company is planning to sell some stake in its power generation subsidiary to fuel expansion plans and future growth, company's Chairman and Managing Director Sandeep Jajodia said.

Events: ECB President Draghi's Speech

Trends in FII flows: The FIIs were net sellers of Rs7.48bn in the cash segment on Tuesday. The domestic institutional investors (DIIs) were net buyers of Rs2.9nn, as per the provisional figures released by the NSE.

Global Data: Home Loans (Jan) AUD, Investment Lending for Homes (Jan) AUD, M2 Money Supply (YoY) (Feb) CNY, New Loans (Feb) CNY, Industrial Production (YoY) (Feb) CNY, Retail Sales (YoY) (Feb) CNY, Urban investment (YTD) (YoY) (Feb) CNY, Nonfarm Payrolls (QoQ) (Q4) EUR, Current Account (Jan) EUR, ECB President Draghi's Speech EUR, Industrial Production (YoY) (Jan) GBP, Industrial Production (MoM) (Jan) GBP, Manufacturing Production (MoM) (Jan) GBP, Manufacturing Production (YoY) (Jan) GBP, Consumer Price Index (YoY) (Feb) EUR, Consumer Price Index (MoM) (Feb) EUR, MBA Mortgage Applications (Mar 6) USD, EIA Crude Oil Stocks change (Mar 6) USD, MPC Member Weale Speech GBP, NIESR GDP Estimate (3M) (Feb) GBP, 10-Year Note Auction USD, Monthly Budget Statement (Feb) USD, RBNZ Interest Rate Decision NZD, Monetary Policy Statement NZD, Food Price Index (MoM) (Feb) NZD, BSI Large Manufacturing (QoQ) (Q1) JPY, Foreign bond investment (Mar 6) JPY, Foreign investment in Japan stocks (Mar 6) JPY, Tertiary Industry Index (MoM) (Jan) JPY.

Other news in the media:

JSW Steel plans to focus on acquisitions as well as expansion through the brownfield and greenfield routes in order to raise its steel-making capacity to 40mn tonnes per annum by 2025. (BL)

Asian Paints is set to sign up with the Andhra Pradesh Government for setting up a greenfield plant near Vizag. The company is likely to invest Rs.17.50-18bn on the project in a phased manner. (BL)

Dr Reddy's Custom Pharmaceutical Services division has expanded its existing custom service facilities with a new formulation development laboratory in Hyderabad. (BS)

ITC is scouting for more acquisitions to scale up its non-cigarette fast-moving consumer goods business as it expects cumulative brand turnover from this segment to increase to Rs.150bn in the next two-three years. (ET)

L&T unit wins orders worth Rs.12.4bn. (BL)

Cairn Energy said it is engaged with the Indian Government to resolve a tax dispute that has stalled sale of its 10% stake in Cairn India Ltd and led to 40% job cuts. (BL)

Telenor group and Tata group are likely to merge their wireless telephony operations in India with Telenor running the day-to-day operations of the merged entity. As per the valuation of both companies, the Tata group will end up with a minority stake in the merged entity. (BS)

Tata Power commissioned 63 MW sized first unit of its 126 MW Dagachhu Hydro Power Corporation in Bhutan. (BS)

Cholamandalam Investment and Finance Company has roped in Cognizant Technology Solutions to digitize its vehicle finance business operations for cost efficiency and speeding up loan delivery. (BL)

The Lok Sabha cleared the contentious land acquisition Bill, along with nine amendments proposed by the government. (BS)

Government is likely to allocate 17 food parks to different companies by the end of this month, which will attract an estimated investment of about Rs.21bn. (ET)

India's natural rubber production in February fell 13.5% from a year earlier to 50,000 tonnes, while consumption rose nearly 4% to 82,500 tonnes. (BL)

Government has launched long- term measures including those to target integration of economically important genes for crop yield improvement. (ET)

India's current account deficit rose to $8.2bn for third quarter ended December 2014 from $4.2bn for October-December 2013. (BS)

 

Weakness continues; Nifty shuts below 8750

The Indian equity markets extended their losing streak further as heavy selling dragged the Nifty to breach below the 8700 mark intra-day. In

dices have lost almost 4.5% from record highs in four days.

Amar Ambani Head of Research at IIFL said, "The currency factor was at play again today with the rupee, like most Asian currencies weakening against the dollar. Subdued global cues continued to weigh on sentiment. Bank, oil & gas and power stocks were the biggest draggers. Action may be restricted to side counters as lack of positive triggers will keep main indices subdued for a while."

Following Monday's carnage, the market showed some signs of sustainability in the first half of the trading session. However, the bear attack resumed post noon and the key benchmark indices tested lower levels as the day progressed.

The Sensex opened 79 points higher at 28,924, following yesterday's 600-point slump, at 28,924, and soon tested a high of 28,949. The BSE index thereafter swung between zones throughout the morning session.

Rupee weakness, anxiety ahead of the key economic data and US Federal Reserve meet, triggered a fresh round of selling in the market at noon deals. The Sensex slumped to a low of 28,584 - down 365 points from the day's high.

Financials, energy and select metal & FMCG shares were major draggers today, while telecom stocks logged strong gains.

Sensex finally ended with a loss of 135 points at 28,710, and has slumped 4.4 per cent (1,315 points) from its recent all-time high of 30,025 in a mere four days.

The NSE Nifty touched a low of 8,677, and eventually settled 45 points lower at 8,712. The NSE index is down 4.5 per cent (407 points) from its life-time high of 9,119 touched on 4 March, 2015, after the surprise RBI rate cut.

The India VIX (Volatility) index was down 1.8 per cent at 15.5325.

The broader market too ended on a mixed note. The CNX Smallcap index slipped 0.5 per cent to 5,729, while the Midcap index ended unchanged at 13,178.

The breadth too turned negative in the latter half of the trading session - out of 1,702 stocks traded on the NSE, 892 declined and 618 advanced today.

Telecom stocks were the major gainers today. The stocks witnessed frenzied buying in mid-noon deals amid the on-going 2G, 3G spectrum auction. Reports indicated that the telecom companies had collectively bid around Rs. 94,000 crore in the first five days of the auction.

Bharti Airtel was the major gainer, the stock soared nearly 7 per cent to Rs. 367. Idea Cellular and Reliance Communications rallied around 3 per cent each to Rs. 154 and Rs. 64.50, respectively.

Coal India was the other major gainer in the Nifty-50 stocks. The stock surged 4 per cent to Rs. 372.

NMDC and Mahindra & Mahindra gained 2 per cent each at Rs. 130 and Rs. 1,230, respectively.

Zee Entertainment and Lupin advanced over 1.5 per cent each to Rs. 343 and Rs. 1,898, respectively. Lupin is currently trading at record high and has surged over 6 per cent in the last three trading sessions.

Punjab National Bank, IndusInd Bank and Bajaj Auto were the other prominent gainers.

On the other hand, DLF tumbled 4.5 per cent to Rs. 144.

HDFC extended losses for the second straight trading session, and was down 3.5 per cent at Rs. 1,318. The stock alone accounted for a loss of 98 points on the Sensex, and 23 points on the Nifty.

Jindal Steel reversed direction in intra-day trade, and ended 2.5 per cent lower at Rs. 190. Hindalco too shed 2 per cent at Rs. 138.

Hindustan Unilever slipped 2 per cent to Rs. 956 on account of profit-taking following the strong two-day rally. The stock had gained 6.5 per cent in the preceding two trading sessions.

Cement majors - UltraTech Cement and Ambuja Cement dropped around 1.8 per cent to Rs. 3,011 and Rs. 259, respectively.

Sun Pharma, Reliance Industries, Cairn India, Tata Power, Tata Steel, Power Grid and Kotak Bank were the other major losers, down over a per cent each.

TCS had tumbled to a low of Rs. 2,595 in intra-day deals, and had lost 6.5 per cent at the lowest point of the day in four trading sessions. However, bargain hunting towards the end of the day helped the stock recoup most of the day's losses. The stock finally ended mere 0.3 per cent lower at Rs. 2,639.

Among other stocks - Persistent Systems slumped almost 9 per cent to Rs. 851 after the stock was traded at the ex-bonus price today. The company had declared a bonus issue of 1:1 share.

Adani Enterprises surged to a high of Rs. 680 in early trade on the BSE on hopes of striking more deals for supply of coal to overseas mines. The stock, however, finally ended with a loss of 2 per cent at Rs. 653.

HSIL jumped to a high of Rs. 418 in opening trades on the BSE after the company announced the QIP issue price at Rs. 412.53 per equity share. The stock ended flat at Rs. 412.

Time Technoplast zoomed 7.5 per cent to Rs. 54.10, after the Reserve Bank of India hiked the foreign institutional investors (FIIs) and foreign portfolio investors (FPIs) investment limit to 49 per cent of the paid-up capital of the company.

Monnet Ispat & Energy soared 8.5 per cent to Rs. 71 on buzz of stake sale in the one of its power generation unit.

PC Jeweller extended its winning run for the third straight day following the exclusive tie-up with US-based Blue Nile. The stock was up 2.3 per cent at Rs. 304 today.

Jubilant Industries was locked at the 20 per cent upper circuit at Rs. 81 on the back of 17.5-times jump in volume on the BSE. The counter witnessed trades of around 23,000 shares with pending buy orders for nearly 24,000 shares.

Around 61 stocks registered a fresh 52-week high today. Prominent among these were Aarti Industries, AIA Engineering, APL Apollo Tubes, Ashok Leyland, Bajaj Corp, BF Utilities, Cipla, Colgate Palmolive, Container Corporation, Dabur India, eClerx Services, Emami, Hitachi Home, JSW Holdings, Linc Pen, Lupin, Maxwell Industries, Natco Pharma, Nestle India, PC Jeweller, Ranbaxy, Siti Cable, SPARC, Sun Pharma, Talwalkars, Thermax, Tube Investments of India, Titagarh Wagons and Wockhardt.

Amtek India, Aptech, Educomp Solutions, Everonn Education, Helios and Matheson, Indian Overseas Bank, Jindal Cotex, The Oudh Sugar, Provogue (India), Reliance Communications, Shree Ganesh Jewellery House, Simbhaoli Sugars, Tata Steel, Thiru Arooran Sugars and Vishnu Chemicals were in the list of 30-odd stocks to register a fresh 52-week low today.

TEN MOST ACTIVE FUTURES
Expiry Date:
26-March-2015
TEN MOST ACTIVE OPTIONS
Expiry Date:
26-March-2015

Symbol

No.of Cont Traded

Last price

Open Interest

% chg in Op.Int

SBIN

29,960

288.75

82,641,250

-1.11

AXISBANK

29,402

588.70

29,041,500

-1.00

BHARTIARTL

26,908

370.55

12,221,500

5.52

AUROPHARMA

23,394

1,134.20

12,074,750

-1.52

JINDALSTEL

20,739

190.65

26,563,000

-0.11

RELIANCE

18,311

865.20

36,401,250

1.09

YESBANK

18,025

833.20

10,646,500

3.65

LT

17,075

1,763.35

7,641,000

1.46

HDFCBANK

16,972

1,061.15

46,640,000

-0.86

WOCKPHARMA

16,701

1,793.60

2,601,000

13.83

Symbol

Option Type

Strike price

No.of Cont Traded

Open Interest

% chg in Op.In

SBIN

CE

300

4,774

6,680,000

4.25

RELIANCE

CE

900

4,454

1,156,750

5.02

RELIANCE

CE

880

4,113

544,500

35.03

RELIANCE

CE

920

3,441

615,000

3.58

SBIN

CE

310

3,432

5,333,750

7.78

AXISBANK

CE

600

3,336

1,208,500

13.90

RCOM

CE

70

3,332

3,710,000

9.38

BHARTIARTL

CE

380

3,260

364,500

22.11

AUROPHARMA

CE

1,150

3,117

215,500

-6.30

TCS

CE

2,700

2,883

110,625

9.80

SUPPORT & RESISTANCE LEVEL

March 2015 

COMPANY NAME

S3

S2

S1

CLOSING PRICE

R1

R2

R3

Sensex Index

28,469

28,528

28,590

28,710

28,830

28,892

28,951

Nifty Index

8,646

8,662

8,679

8,712

8,745

8,762

8,778

ABB Ltd

1,294

1,303

1,312

1,329

1,347

1,356

1,365

ACC

1,620

1,627

1,635

1,649

1,664

1,671

1,678

Ambuja Cements

255

256

257

260

262

263

264

Bajaj Holdings

1,354

1,360

1,367

1,379

1,392

1,399

1,405

BHEL

254

255

257

259

262

263

264

Bharti Airte

343

349

355

368

381

387

393

Cipla

712

716

721

730

739

743

747

Dabur India

257

259

261

266

270

273

275

GAIL India

378

379

381

384

387

388

389

Grasim Ind.

3,649

3,660

3,672

3,694

3,717

3,729

3,740

HCL Tech

2,018

2,024

2,031

2,044

2,057

2,064

2,070

HDFC Bank

1,040

1,043

1,046

1,053

1,059

1,063

1,066

Hero Honda

2,603

2,608

2,612

2,621

2,629

2,634

2,638

Hindalco

133

134

136

138

140

142

143

Hindustan Unilever

939

943

948

957

966

970

974

ICICI Bank

329

330

331

334

336

337

338

Infosys Tech

2,171

2,178

2,186

2,200

2,215

2,222

2,229

ITC Ltd

334

335

336

339

341

342

343

L&T

1,710

1,720

1,731

1,753

1,775

1,786

1,796

MTNL

25

25

26

26

26

27

27

M&M

1,207

1,212

1,217

1,227

1,237

1,243

1,248

Maruti Suzuki

3,617

3,625

3,633

3,648

3,664

3,672

3,680

Mahindra Satyam

2,790

2,803

2,815

2,840

2,865

2,878

2,890

National Alumin

48

49

49

49

49

50

50

ONGC

309

310

312

315

318

319

321

Oriental Bank

233

234

235

237

238

239

240

PNB

162

162

163

164

164

165

165

Ranbaxy Labs

786

790

795

804

814

819

823

Reliance Capital

435

438

442

448

454

457

460

Reliance Comm

61

62

63

64

66

67

68

Reliance Energy

446

449

452

458

464

467

469

Reliance Inds

846

849

853

859

866

869

872

R Power

57

57

57

58

58

59

59

Siemens India

1,348

1,353

1,357

1,367

1,376

1,381

1,386

SBI

282

284

285

288

290

292

293

TCS

2,590

2,603

2,617

2,643

2,669

2,682

2,695

Tata Motors

551

553

556

560

565

567

569

Tata Power

79

80

80

81

82

83

83

Tata Steel

327

328

329

332

335

336

338

Tata comm

409

412

416

422

429

433

436

Wipro

642

646

649

655

661

664

668

Wire And Wireless

37

37

38

39

40

40

40

Zee Entertainment

335

336

338

341

345

347

348

NOTE : S1, S2 and S3 are critical support levels while R1, R2 and R3 are resistance levels. Trading call depends on the price band



Leader Speak

Manmohan Shetty, CMD, Adlabs Entertainment
"The Company in consultation with the Global Co-ordinators and Lead Managers, is offering a discount of Rs. 12 on the Issue Price (per Equity Share) to Retail Individual bidders."...More

Peter Kerkar, Director, Cox and Kings Ltd.
"Our net debt is around Rs 2500 crores. With the growth in EBITDA and a reduced annual capex post camping, we will throw out more cash annually, which will go primarily towards further debt reduction."...More

Supam Maheshwari, CEO & Founder, FirstCry.com
"FirstCry.com has an inventory of more than 90,000 items on its online platform. There is an inventory of around 15,000 to 20,000 products in our offline stores."...More

Rustom Kerawalla, Chairman and Managing Director, Vibgyor High
"Today education is not confined to a set of books and conventional teaching methods; it has reached to a different paradigm wherein modern techniques are introduced. Experiential and integrated learning programme is an essential part of modern education system, and we have inculcated the same very fiercely in our curriculum."...More

Mohit Goel, Chief Executive Officer, Omaxe Limited
"The coming Budget is expected to continue with positive policy changes in order to improve business environment and give strong push to growth."...More

Interview with Sidhant Gupta, Director, Kwality Limited
"We will be focusing on launching various new products catering to the increasing health needs of the Indian Consumers."...More

Read More Leader Speak...

Currency Movement

Mar 10,
2015
Mar 09,
2015
% chg
Rupee to Dollar

62.78

62.54

0.38

Rupee to Euro

67.44

67.87

0.64

Commodities Movement

Mar 10,
2015
Mar 09,
2015
% chg
Gold std. (Rs/10gm)

25,933

26,139

0.79

Silver (Rs/kg)

35,610

35,979

1.03

Crude Oil ($ per barrel)

49.58

50.00

0.84

Global Indicators

Index
Mar 10,
2015
Mar 09,
2014
% chg
Sensex

28,709.87

28,844.78

0.47

Nifty

8,712.05

8,756.75

0.51

Dow Jones

17,662.94

17,995.72

1.85

Nasdaq

4,859.80

4,942.44

1.67

Stock in Momentum

Top Gaining Companies (BSE-200)

%

Bharti Airtel

7.09

Emami

4.99

IPCA Labs

4.79

Hexaware Technology

4.63

Container Corp

4.39

Century Textile

4.25

Top Losing Companies (BSE-200)

%

Kaveri Seed

4.51

DLF

4.14

Housing dev fin

3.89

Info Edge

3.88

Bharat Electron

3.58

Dabur India

3.21

Daily Market Watch
Positive Breakouts (BSE-200)
Company
Last
Price
Mov
Avg
10d
% chg
Mov Avg 20d
HUL

957

919

4.05

909

Mphasis

402

387

3.87

375

UPL

434

418

3.67

422

Dr Reddy's Labs

3,434

3,359

2.24

3,326

Idea Cellular

154

153

0.86

153

Negative Breakouts (BSE-200)
Company Last
Price
Mov
Avg
10d
% chg Mov Avg 20d
Vakrangee

117

123

4.95

124

Tata Power

81

85

4.48

85

Power Grid Corp

148

155

4.15

153

Piramal Enterprises

860

894

3.76

874

Gruh Finance

250

260

3.74

264

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Industry Newsletters

Agriculture Newsletter - February 16 to 20, 2015

Automobile Newsletter - February 16 to 20, 2015

Aviation Newsletter - February 16 to 20, 2015

Banking Newsletter - February 16 to 20, 2015

FMCG Newsletter - February 16 to 20, 2015

Hotels & Tourism Newsletter - February 16 to 20, 2015

Infrastructure Newsletter - February 16 to 20, 2015

IT Newsletter - February 16 to 20, 2015

Insurance Newsletter - February 16 to 20, 2015

Mutual Funds Newsletter - February 16 to 20, 2015

Merger & Acquisition Round Up - February 16 to 20, 2015

Metal & Mining Newsletter - February 16 to 20, 2015

Oil and Gas Newsletter - February 16 to 20, 2015

Pharmaceutical Newsletter - February 16 to 20, 2015

Retail Newsletter - February 16 to 20, 2015

Real Estate Newsletter - February 16 to 20, 2015

Telecom Newsletter - February 16 to 20, 2015

Corporate Snippets

JSW Steel plans to focus on acquisitions as well as expansion through the brownfield and greenfield routes in order to raise its steel-making capacity to 40mn tonnes per annum by 2025. (BL)

Asian Paints is set to sign up with the Andhra Pradesh Government for setting up a greenfield plant near Vizag. The company is likely to invest Rs.17.50-18bn on the project in a phased manner. (BL)

Dr Reddy's Custom Pharmaceutical Services division has expanded its existing custom service facilities with a new formulation development laboratory in Hyderabad. (BS)

ITC is scouting for more acquisitions to scale up its non-cigarette fast-moving consumer goods business as it expects cumulative brand turnover from this segment to increase to Rs.150bn in the next two-three years. (ET)

L&T unit wins orders worth Rs.12.4bn. (BL)

Cairn Energy said it is engaged with the Indian Government to resolve a tax dispute that has stalled sale of its 10% stake in Cairn India Ltd and led to 40% job cuts. (BL)

Telenor group and Tata group are likely to merge their wireless telephony operations in India with Telenor running the day-to-day operations of the merged entity. As per the valuation of both companies, the Tata group will end up with a minority stake in the merged entity. (BS)

Tata Power commissioned 63 MW sized first unit of its 126 MW Dagachhu Hydro Power Corporation in Bhutan. (BS)

Cholamandalam Investment and Finance Company has roped in Cognizant Technology Solutions to digitize its vehicle finance business operations for cost efficiency and speeding up loan delivery. (BL)

Economy Snippets

The Lok Sabha cleared the contentious land acquisition Bill, along with nine amendments proposed by the government. (BS)

Government is likely to allocate 17 food parks to different companies by the end of this month, which will attract an estimated investment of about Rs.21bn. (ET)

India's natural rubber production in February fell 13.5% from a year earlier to 50,000 tonnes, while consumption rose nearly 4% to 82,500 tonnes. (BL)

Government has launched long- term measures including those to target integration of economically important genes for crop yield improvement. (ET)

India's current account deficit rose to $8.2bn for third quarter ended December 2014 from $4.2bn for October-December 2013. (BS)

 

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