Bulk Deal as on 04-05-21

Bajaj Hindustan Sugar
- 65.02 Lk @ 9.01 Abdul Azees

Dwarikesh Sugar
- 12 Lk @ 48.03 VLS Finance Ltd

Kothari Sugar
- 4.39 Lk @ 32.34 Mt Corporation

Magma Fincorp
+ 42.50 Lk @ 111.05 Aditya Birla Sun Life Mutual Fund
+ 17.90 Lk @ 111.05 Kuwait Investment authority
+ 50 Lk @ 111.05 Nippon India Mutual Fund
+ 33.37 Lk @ 113 SMC Real Estate Advisor Pvt Ltd
+ 14.75 Lk @ 116.4 Mansi Share & Stock Advisor Pvt Ltd
+ 11.31 Lk @ 116.7 Db Int Own Trading
- 1.51 Crore @ 115.13 Lavender Investment
Ltd
- 2.33 Crore @ 111.06 True North Fund V Llp

Uttam Sugar
- 1.99 Lk @ 145.18 Rohan S hegde


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FII and DII Trading activities as on 04May2021
FII F&O (Net)+2693.65Cr
FII INDEX FUTURES-287.6Cr
FII INDEX OPTIONS+1870.22Cr
FII STOCK FUTURES+1178.02Cr
FII STOCK OPTIONS-66.99Cr
FII CASH-1772.37Cr
DII CASH+987.34Cr


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*Greaves Cotton Ltd.* | *CMP* Rs. 143 | *M Cap* Rs. 3306 Cr | *52 W H/L* 158/66
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 520.4 Cr (5.2% QoQ, 34.8% YoY) vs QoQ Rs. 494.6 Cr, YoY Rs. 386.2 Cr
EBIDTA came at Rs. 41.6 Cr (-15.3% QoQ, 76.2% YoY) vs QoQ Rs. 49.1 Cr, YoY Rs. 23.6 Cr QoQ (lower EBITDA is on account of higher losses in E Mobility though revenue grew 19% QoQ)
EBITDA Margin came at 8% vs QoQ 9.9%, YoY 6.1%
Adj. PAT came at Rs. 13.2 Cr vs QoQ Rs. 24.8 Cr, YoY Rs. 5.6 Cr Lower PAT is on account of higher Tax
Quarter EPS is Rs. 0.6
Share is trading at P/E of 21.8x FY22E EPS

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*Alembic Pharma – Q4FY21 Concall Update – Nirmal Bang Sec.*
*Outlook – Neutral for near term*
*_The company is guiding for Rs 50 EPS for FY22 against Rs 60.8 in FY21 due to US coming off from high base and new facilities are likely to start contributing by 2HFY22 at the earliest. With this background we believe the stock is likely to be range bound in near term_*

The stock is trading at 20xFY22E consensus earnings

• Capex for the quarter was Rs 178 cr and for Rs 687 cr for FY21; going forward there would be maintenance capex as major project related capex is over – could be in the range of Rs 500 -600 cr
• Financial assistance for Aleor for the quarter is Rs 20 cr and for the year is Rs 145 cr
• Borrowings – gross Rs 500 cr; net debt Rs 208 cr vs 1674 cr in FY20

*_International Business_*
• Witnessed all around growth – API, US, ex US
• New General Injectible plant – was inspected in Feb and the company received 5 inspections which as per the management are procedural in nature
• Sartans prices have come down due to higher competition however overall the lucrative opportunity lasted much more than the company had anticipated resulting in strong cash flows
• R&D for the quarter was Rs 195 cr (15% of sales) and for the year it was Rs 670 cr 12% of sales
• Filed 29 ANDAs in FY21; Received 4 approvals during the quarter; launched 3 products in Q4 and 16 for FY21; *for FY22 – it is likely to launch 15 products*
• US Generics’s revenues grew by 18% to Rs 475 cr during the quarter and Ex-USA generics continued the growth to 77% to Rs 233 cr for the quarter mainly due to weak quarter last year. *For FY22 the ex-US business is likely to grow 10-15%*
• API business grew by 38% to Rs 214 cr
• For US generics, the new base is $50-60mn quarterly run rate against earlier of $70-75 mn due to decline in prices of Sartans
• *So going forward overall US business would see a decline to muted growth*
• API – 1st half was more robust due to disruption in supplies from China which was normalised in 2H. – *API business is likely to grow by 10% in FY22*
• *Maintain Rs 50 EPS guidance for FY22 (against Rs 60.8 in FY21)*
• Expect acute growth to come back in FY22 though still early to say


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*RBL Bank Q4FY21 Concall Update*
(Nirmal Bang Securities)

*# Asset quality remains under pressure; improvement expected from H2FY22*
*# Retailisation of portfolio continues; Retail mix at 59% vs 53% last year*

*Outlook: Neutral*

• Slippages remained elevated at Rs. 1439 Cr vs QoQ Rs. 1470 Cr with slippage ratio of 9.8% vs QoQ 10.4%.
• FY21 slippages were at 3148 Cr. Credit Cards 1300 Cr; MFI 390 Cr; Retail 800 Cr; Wholesale 600 Cr.
• Strategy of the bank is to reduce exposure to unsecured mix (specifically Personal loans /some SME/some wholesale) by 5-7% in coming years. These products would be scaled down while new retail products like Gold, affordable housing will grow faster.
• BBB portfolio has declined to 16.8% vs QoQ 18.3% & YoY 20.7%
• BB & Below portfolio has declined to 5.7% vs QoQ 6.5% & YoY 6.5%
• Over last 18 months, incremental lending has largely been to A and above
• Restructuring book has increased to 1.4% from QoQ 0.9%, in line with previous guidance.
• Gross NPA came at Rs. 2602 Cr vs QoQ Rs. 2610 Cr at 4.34% vs QoQ 4.57%
• Net NPA came at Rs. 1241 Cr vs QoQ Rs. 1408 Cr at 2.12% vs QoQ 2.52%
• Provisions came at Rs. 767 Cr (5.3%) vs QoQ Rs. 610 Cr (4.2%), YoY Rs. 614 Cr (4.4%)
• Co has taken 50% provisioning in all unsecured slippages instead of the normal 25%.
• Bank believes credit costs will normalize from H2FY22 to pre pandemic levels.
• Plan to take PCR to above 60% in FY22 from 52% today.
• Credit Cost (21% mix): Market share has remained stable at 4.7%. Restructured loans are at 2.2%. GNPA is at 5.5%. Credit cost for the year was 10.5% and would remain elevated until covid prevails (next few qtrs).
• MFI (12% mix): CE is at 97% vs QoQ 93%. Barring 3-4 troubled states (where bank has stopped disbursements), CE is at pre-covid levels. Bank is targeting to cross sell gold/2W loans to the large customer count in MFIs. Loan growth was at 6% YoY. Half of the book was created post Covid. GNPA is at 3.67% vs QoQ 5-5.5%. 30 DPD book is at 7%.
• Advances grew to 1% YoY & 4% QoQ and stood at Rs. 58,623 Cr. Retail book (59% mix) grew by 13% YoY while wholesale (41% mix) declined by 12% YoY.
• Wholesale book will grow in single digits in longer term.
• NIM was flat QoQ at 4.2% (YoY 4.9)%. They were subdued due to reversal of interest income on higher slippages and higher liquidity. They are expected to normalize to 4.75% levels from H2FY22.

Share is trading at P/E of 9.3x FY22E EPS & 0.8x trailing P/Adj. BV


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*Procter & Gamble Hygiene & Health Care Ltd.* | *CMP* Rs. 13811 | *M Cap* Rs. 44832 Cr | *52 W H/L* 14122/9691
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 759.7 Cr (-25.4% QoQ, 15.8% YoY) vs expectation of Rs. 874.5 Cr, QoQ Rs. 1018.4 Cr, YoY Rs. 656.1 Cr
EBIDTA came at Rs. 136.3 Cr (-60.2% QoQ, 9.5% YoY) vs expectation of Rs. 207.5 Cr, QoQ Rs. 342.4 Cr, YoY Rs. 124.5 Cr
EBITDA Margin came at 17.9% vs expectation of 23.7%, QoQ 33.6%, YoY 19%
Adj. PAT came at Rs. 98.3 Cr vs expectation of Rs. 153.7 Cr, QoQ Rs. 250.6 Cr, YoY Rs. 91.1 Cr
Quarter EPS is Rs. 30.3
Share is trading at P/E of 66.7x TTM EPS


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*Home First Finance Co Ltd. Q4FY21 Con-Call Update*
(Nirmal Bang Retail Research)
*Business growth with a keen focus on asset quality and profitability.*
Outlook: Positive in Long Term

• AUM for Q4FY21 grew by 14.4% YoY to Rs. 4141 Cr as against Rs. 3618 Cr YoY with sharp focus on housing loans that contribute 92.4% of AUM and EWS/LIG category that forms 75% of the customer base
• Housing Loan remained at 91% mix and Salaried 74% mix. 30% + mix to new to credit customers
• Disbursement is at Rs. 452 Cr with a growth of 30.4% from 346.5 Cr YoY and 29.5% at Rs. 348.8 Cr QoQ
• April month disbursements runrate was at 75% of normal and April bounce rate was 16.25% and was better than March Bounce rate is likely to increase in May
• The collection efficiency has improved to 98.5% for Mar’21 as against 97.6% Dec’20 with zero restructuring.
• Cost of borrowings reduced further to 7.4% in Q4FY21 as against 8% on a QoQ basis.
• ECL provision as on Mar'21 is INR 46 Crs; resulting in total provision to loans outstanding ratio at 1.4%; and the Stage 3 provision coverage ratio is at 74.4%
• Asset quality stood at 1.8% Gross stage 3 and 1.2% Net stage 3. The stage 3 numbers to remain constant/ same range in the coming quarters.
• Spread on loans stood at 5% in FY21 compared to 4.1% as of FY20. Q4 FY21 stood at 5.4% vs 4.5% in Q4 FY20 and 5.0% in Q3 FY21 Spreads should be retained at 4.75% in long term
• On book AUM is 81% and is expected to reduce to 70% going ahead as the company sees benefits in Direct Assignment.
• Opex/Assets will be between 3-3.5% in FY22 and then gradually decline.
• 1+ DPD is at 6.2% vs QoQ 7.5% vs normal range around 3.5% of which 30% spills into GNPA. 30+ DPD is at 4.1%, same as on Q3. (2.0% in FY20 & 1.7% in FY19). Generally, 50% of 30+ DPD spills to GNPA. On DPD front, Maharashtra is the worst affected
• Currently one branch does business of around d Rs. 55 Cr and the aim is to increase it to over Rs. 100 Cr
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Hindustan Aeronautics Limited (HAL) and Rolls-Royce have signed an MoU to establish packaging, installation, marketing and services support for Rolls-Royce MT30 marine engines in India. Through this MoU. Rolls-Royce and HAL will expand their long-standing partnership in India and work together in the area of marine applications for the first time. Positive


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Treasury Sec. Yellen:
- President Biden is addressing long-standing problems in the US economy
- These problems have festered for too long
- High price tags will be spread out over years
- Not all spending will be deficit spending
- Uncollected taxes amount to $7 trillion over a decade
- Reallocation may result in some small increases in interest rates
- Rates may have to rise to stop economy from overheating
*DOLLAR SUPPORTIVE*

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*IIFL Securities Ltd.* | *CMP* Rs. 54 | *M Cap* Rs. 1636 Cr | *52 W H/L* 66/29
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 238.1 Cr (18.4% QoQ, 21.2% YoY) vs QoQ Rs. 201.1 Cr, YoY Rs. 196.5 Cr
EBIDTA came at Rs. 98.4 Cr (29.4% QoQ, 14.4% YoY) vs QoQ Rs. 76.1 Cr, YoY Rs. 86 Cr
EBITDA Margin came at 41.3% vs QoQ 37.8%, YoY 43.8%
Adj. PAT came at Rs. 77.3 Cr vs QoQ Rs. 50.6 Cr, YoY Rs. 37.3 Cr
Quarter EPS is Rs. 2.6
Share is trading at P/E of 7.4x TTM EPS

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*💥 5th May - RESULTS💥*

📍TATA STEEL LTD.
📍ADANI ENTERPRISES
📍DEEPAK NITRITE
📍ABB Power Products and Systems India
📍Adani Green Energy
📍Angel Broking
📍BLUE DART EXPRESS
📍CEAT
📍Craftsman Automation
📍CORAL INDIA FINANCE & HOUSING
📍Gillette INDIA
📍JM FINANCIAL
📍KIRLOSKAR FERROUS INDUSTRIES
📍MEGASOFT
📍ORACLE FINANCIAL SERVICES SOFTWARE
📍Shalby

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Books - Make India Read Backup Channel
Our only aim is to make India Financially Literate. We are doing this service for free and don't have any monetary aim behind it.
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Please Join Backup Channel in case of any issues with main Channel.

World Markets

Dow + 20
Nasdaq - 262
Dax - 362
Nikkei Closed
Hangseng Closed
Sgxnifty - 35 (14517)
Brent Crude 69.47
Dow Fut + 79
Dollar Index 91.23

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RBI Governor Shaktikanta Das will be addressing the media at 10 am today https://t.co/aGNPtsM8U2

GM jsk stock in news apollopipr,Gail,adanientp,adanigas,bajajhealth,alembicpharma,vedl,deepakniterate,greavescotton,SRF. negative stocks rblbk,affle,MNM,eicher, escorts,ashokley. Nifty range 14350-14650.

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India's solar equipment manufacturers finding it difficult to sustain: Waaree - https://energy.economictimes.indiatimes.com/news/renewable/indias-solar-equipment-manufacturers-finding-it-difficult-to-sustain-waaree/82373544

*SGX Nifty -36 pts (14516) from last trade 14552*

Nikkei shut,
Hangseng -130 pts,
Now @6.58am.

Dow +19.80 pts ,Nsdq -261.61 pts, S&P -28.00 pts, Bovespa -1497 pts , Ftse -46 pts , Dax -379 pts , Cac -56 pts , Crude @ $66.27 brl (+0.58), Brent @ $68.88 brl (+0.00) , Gold @ 1778.30 (+2.50), Silver @ $26.565 (+0.002), Euro @ $1.2012, JPY @ $109.33 INR @ 73.766

*Today's Corporate Action*
*5th May Ex Date*
CRISIL
Interim Dividend - Rs. - 7.0000

SALORAINTL
E.G.M.

*Today's Key Results/Board Meetings*
*5-May-21*
ADANIENT
General; Dividend; Audited Results

ADANIGREEN
Audited Results

ANANTRAJ
General; Issue Of Warrants

ANGELBRKG
Audited Results

ASIANTNE
Voluntary Delisting of Shares

BLUEDART
Final Dividend;Audited Results;Quarterly Results

CEATLTD
Final Dividend;Audited Results

CORALFINAC
Final Dividend;Audited Results

CRAFTSMAN
Audited Results

DEEPAKNI
Dividend;Audited Results

GILLETTE
Interim Dividend; Quarterly Results

INTEGRA
Audited Results

JMFINANCIL
Dividend;Audited Results

KIRLFER
Employees Stock Option Plan; Final Dividend; Audited Results

KREONFIN
Preferential Issue of shares

MAITHANALL
Dividend;Audited Results; Scheme of Arrangement; Quarterly Results

MEGASOFT
Audited Results

OFSS
Dividend;Audited Results

POWERINDIA
Quarterly Results

SANGAMIND
Dividend;Audited Results

SHALBY
General;Audited Results

SNIM
General

SRF
Final Dividend; Audited Results

SURANASOL
Audited Results

TATASTEEL
General; Final Dividend; Audited Results; Quarterly Results

*Stock under F&O ban on NSE*
*5-May-21*
1SUNTV

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*Economic Times*
*Business Standard*
Ø  Steel makers hike prices of HRC, CRC by up to Rs 4,500 per tonne
Ø  Currency in circulation hits Rs 29 lakh crore on 2nd wave
Ø  India, UK unveil 10 year roadmap; announce enhanced trade partnership
Ø  Billionaire Gautam Adani’s unit considers scrapping Myanmar deal after coup
Ø  Foxconn, Wistron, Dell, 16 other cos apply for investments under PLI scheme for IT hardware
Ø  April auto sales show impact of lockdowns: Report
Ø  India's recovery to be hit by Covid surge; fiscal metrics to stay weak: S&P
Ø  DoT approves telcos' applications for 5G trials; no Chinese tech for trials
Ø  S&P, Dow Jones bring bitcoin, ethereum to Wall St with crypto indexes
Ø  United States trade deficit hits record $74.4 billion in March
Ø  US FDA to authorise Pfizer jabs for 12 to 15-year-old by next week
Ø  Saudi Aramco beats first-quarter profit forecast, keeps dividend

*Business Line*
*Mint*
Ø  Coal India’s offtake increased to 54 million tonnes in April 2021
Ø  IOC begins supply of biodiesel made from used cooking oil
Ø  ‘Sterlite plant in TN ready to begin oxygen production’
Ø  Organic products exports rise over 80 times since 2002-03 to record $1.4 b last fiscal
Ø  APSEZ Q4 net zooms 288% to ₹1,321 cr
Ø  L&T Technology Services reports 5% fall in Q4 profit at ₹194.5 crore
Ø  MCA gives compliance relief to businesses
Ø  India Pesticides get Sebi’s nod for Rs800 crore IPO
Ø  Wipro to invest £16 million to set up innovation centre in London
Ø  RBL Bank reports 34% drop in Q4 net profit as provisions rise
Ø  Markets slip 1% as increasing localised lockdowns to hit economic recovery
Ø  Axis Bank trims stake in Yes Bank

*Financial Express*
*Business World*
Ø  Covid-19 curbs push unemployment rate to four-month high of 8%
Ø  Adani Total Gas net profit rises 8% to Rs 472 crore in FY21
Ø  MFIs To Witness Asset Quality Pressures In Near Term: ICRA
Ø  Sensex Ends Lower By 465 Pts, RIL Top Loser

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🌄 *Shuboudhaya : 05 MAY 2021*🙏🏻
╰───────────────────╯
*Today's top News*

1. The swearing-in of Trinamool Congress supremo Mamata Banerjee as chief minister at Raj Bhavan on Wednesday morning will be a low-key programme given the ongoing COVID-19 pandemic.

2. Chief ministers of other states and leaders of other political parties have not been invited for the programme keeping in mind the current COVID-19 situation in the country.

3. In the Union Territory of Puducherry, the BJP will be a part of the coalition government,

4. Dravida Munnetra Kazhagam president M K Stalin was on Tuesday unanimously elected as legislature party leader and he is to be sworn-in as chief minister of Tamil Nadu on May 7.

5. Sporadic post-poll violence continued on Tuesday in West Bengal claiming several lives as chief minister Mamata Banerjee asked officials to act decisively and Prime Minister Narendra Modi rang up Governor Jagdeep Dhankhar to express anguish over the law-and-order situation.

6. A decision on the next chief minister in Assam is yet to be taken though two days have passed since the Bharatiya Janata Party-led alliance won the assembly election and the state chief of the saffron party said on Tuesday that either incumbent Sarbananda Sonowal or senior minister Himanta Biswa Sarma will head the next government.

7. *Bihar imposes lockdown till May 15* : The decision was made at the meeting of the Crisis Management Group presided over by Chief Minister Nitish Kumar.

8. Uttar Pradesh announced that it would extended the COVID-19 induced curfew in the state by another 48 hours. it was decided that the curfew that was to end on May 4 would now be extended until May 6 7 am.

9. Former Jammu and Kashmir governor Jagmohan passed away after a brief spell of illness.He was 93. Jagmohan was appointed Jammu and Kashmir governor in 1984 and completed his five-year tenure.

10. DrJitendraSingh Union Minister Dr Jitendra Singh appealed to all eligible employees of 18 years and above to get themselves vaccinated at the earliest.

11. The Union Minister of Petroleum Shri Dharmendra Pradhan flagged off the first supply of used cooking oil-based biodiesel. It was launched under the Expression of Interests Scheme. It mainly aims to create a system for collection and conversion of Used Cooking Oil into biodiesel.

12. Bollywood actor Deepika Padukone has tested positive for the novel coronavirus and is currently in Bangalore with her family. Earlier, it was reported that Deepika's father, Prakash Padukone, mother Ujjala, and sister Anisha, had tested positive for the deadly virus. More details about Deepika's health are awaited

13. *The Indian Army launched the first Green Solar Energy harnessing plant in Sikkim.* It was launched to benefit the troops of the Indian army.

14. *Fight against COVID-19: IAF, Navy deploy assets to carry critical equipment; US promises more aid*
Indian Air Force and the Indian Navy continue criss- crossing across the globe and the country in an effort to bring in Oxygen tankers as well as critical life support equipment. Sharing updates on the sorties undertaken by the transport aircraft

15. Indian Air Force to set up 100-bed COVID-19 care facility in Bengaluru
With the alarming rise in COVID-19

16. Encounter breaks out between security forces and militants in Jammu and Kashmir's Baramulla
on Tuesday, Security forces launched a cordon and search operation at Nathipora in Bomai area following information about the presence of some militants in the area, a police official said.

*✈INTERNATIONAL NEWS*

1. *PM Modi and Rt Hon’ble Boris Johnson, Prime Minister of the United Kingdom held a Virtual Summit*. India and the UK enjoy long standing friendly ties and share a Strategic Partnership underpinned by mutual commitment to democracy, fundamental freedoms and the rule of law, strong complementarities and growing convergences.