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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.
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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*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.
2. *Indian envoy at UN condemns terrorist attack in Afghanistan's Logar province*
TS Tirumurti, Ambassador of India to UN on Monday condemned the terrorist attack in Logar province of Afghanistan in which at least 21 people were killed, including high school students, and more than 100 civilians suffered injuries.

3. *China Undertaking Special Recruitment Drive For Ethnic Tibetans mid Border Standoff With India*

4. Indo-Pacific
External Affairs Minister S Jaishankar and US Secretary of State Antony Blinken, in their first in-person meeting, discussed ways to deal with the rampaging COVID-19 pandemic, situation in the strategic Indo-Pacific region and cooperation in multilateral forums.

5. *SpiceJet airlifts 2,450 oxygen concentrators from Nanjing, Hong Kong: SpiceJet has airlifted 2,450 oxygen concentrators from Nanjing and Hong Kong,* A B737 aircraft of the airline lifted oxygen concentrators from Hong Kong and landed at the Delhi airport

6. US Air Force flights that were scheduled to leave for India with essential life-saving supplies have been delayed till Wednesday due to maintenance issues.

7. The Ministry of Finance recently cut the IGST on import of oxygen concentrators for personal use to 12%. Earlier it was 28%. IGST is Integrated Goods and Services Tax. The decision was announced by the Central Board of Indirect taxes and Customs.

8. India has been pressing the United Kingdom to extradite Mallya and Nirvan Modi to face trial in India for their alleged involvement in cases relating to financial fraud. Mallya has been based in the UK since March 2016 and remains on bail on an extradition warrant executed three years ago by Scotland Yard.

*🌎WORLD NEWS🌍*

1. *Egypt's military has confirmed it ordered 30 Rafale jets from French* defence firm Dassault Aviation to shore up "national security". The order, which follows the 2015 purchase of 24 Rafale jets, will be financed through a 10-year loan.

2. The Philippine foreign minister on Monday demanded in an expletive-laced Twitter message that China's vessels get out of disputed waters, the latest exchange in a war of words with Beijing over the South China.

3. Myanmar Coup And US Withdrawal From Afghanistan To Dominate G7 Foreign Ministers’ Meet
Foreign ministers from the Group of Seven wealthy industrialised nations are gathering Tuesday in London - their first face-to-face meeting in more than two years - to grapple with threats to health, prosperity and democracy.

4. AIRTwenty people were killed, including children, and 49 were hospitalised when a railway overpass collapsed onto a busy road in Mexico City last night.

*🚣🚴🏇🏁🏊Sports:*

1. *The Indian Premier League Governing Council (IPL GC) and Board of Control for Cricket in India (BCCI) in an emergency meeting has unanimously decided to postpone IPL 2021 season, with immediate effect.*

2. The BCCI does not want to compromise on the safety of the players, support staff and the other participants involved in organising the IPL. This decision was taken keeping the safety, health and wellbeing of all the stakeholders in mind.

3. The English professional snooker player Mark Selby has won the World Championship for the fourth time. This time he won the title defeating Shaun Murphy.

*USD 73.67 💷GBP 102.49*
_In Bhubaneswar (Oddisha)_
*🥇Gold ₹44,400@10 gm 24 (Krt)*
🥈 *Silver ₹75,300@ Kg*
*Petrol ₹ 91.27*
*Diesel ₹ 88.17*

*LPG : ₹ 835.50 /14.2 Kg*

*BSE Sensex* 48,253.51
*NIFTY* : 14,496.50

*🇮🇳Facts about India🇮🇳*

The name 'India' is derived from the River Indus, the valleys around which were the home of the early settlers. The Aryan worshippers referred to the river Indus as the Sindhu.
The Persian invaders converted it into Hindu. The name 'Hindustan' combines Sindhu and Hindu and thus refers to the land of the Hindus.

*😀Thought of the day*

You may be disappointed if you fail, but you are doomed if you don’t try.

*Joke of the day*
🤣😅
While people abroad are worried about whether they will survive next year, we in India are planting two vases of mango chili for next year.
This is positive thinking.
It should be.
Be brave, be happy. Then Covid also did nothing to us. Because we have to taste the mango chutney with ghee till 2022 ...😅
Be Brave, Be Positive, use mask, follow social distance, save your family
🤘🤘🤘

*😇GK Today💤*
Island of Pearls : Bahrain

*LEARN Sanskrit*🙏🏻
6. Six षट् (shat)
7. Seven सप्त (sapta)
8. Eight अष्ट (ashta)
9. Nine नव (nava)
10. Ten दश (dasha)

*😳Why*

*What is the scientific reason for taking a head bath after a solar or lunar eclipse*

The science is clearly explained our Earth is largely effected by sun and moon. The moon cycle is 28 days and an average woman cycle also comes every 28 days. On the full moon day the whole ocean rise up around 15 meters. Do you think our body don't get effected having around 70% water content.

However, the sun's rays during a solar eclipse are indeed stronger than usual and can harm your eyesight if you look directly at the sun. To protect your eyes, you should never look at the eclipse without special eclipse glasses. Eclipses light radiation might effects.

In ancient days, it is advised to discard any cooked food and only freshly cooked food to be consumed after Eclipse. The food items like wheat, rice, other cereals and pickles which cannot be discarded should be protected by adding Kusha grass or Tulasi leaves (which minimises radiation effect).

🤔 *How it works*

*Jugnu or Fireflies or light flies* produce green light.

Fireflies produce light in special organs in their abdomens by combining a chemical called luciferin, a chemical reaction inside their bodies that allows them to light up. ... When oxygen combines with calcium, adenosine triphosphate (ATP) and the chemical luciferin in the presence of luciferase, a bioluminescent enzyme, light is produced

🛕 *VEDIC GYAN*

*Bhishma (भीष्म)* also known as Pitamaha, Gangaputra and Devavrata, was a statesman of Kuru Kingdom and one of the most powerful warriors in the epic Mahabharata.
the word Bhishma (भीष्म) means 'terrible', 'horrible', 'fearful' or 'fierce'. The word is also used to describe Rudra, the fierce Vedic god, as well as the Rakshasa. In the epic, Devavrata received this as he undertook a fierce or terrible vow (Bhishma pratigya) and fulfilled it.

For the happiness of his father Shantanu and also for the future of Hastinapur. Devrat (Bishma) take huge oath that he will never marry and also he will be bearer of Hastinapur life time.

It is unlikely that Bhishma would be defeated by any warrior and no one can kill him unless he himself wants(boon of Ichchamrityu). Even Parashurama who was considered to be top among all time warriors could not defeat Bhishma. Arjuna can fight with Bheeshma for only 3 hours. As Bheeshmas astras are much more than Arjunas. After that Arjuna will be defeated.

🧬 *HEALTH CARE: HOME REMEDIES*🩺
( *Note* : These home tips followed in villages/ancient traditions, it is up to you to use it or not🙏🏻)

*Dates* are high in fiber, which may be beneficial for preventing constipation and controlling blood sugar control.

*Regards*

───────────────────╮
*🙏PLZ FOLLOW GOVT. NORMS, MAINT SOCIAL DISTANCE, KEEP YOURSELF & YOUR FAMILY SAFE🌼*

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Stocks To Watch

Adani Ports & SEZ: To abandon the Myanmar project if the office of foreign assets control classifies Myanmar as a sanctioned country, or if OFAC says that the project violates the current sanctions. Write-down to not materially impact APSEZ as it is equivalent to 1.3% of the total assets. Adani has so far invested around $127 million in the project.

SBI Cards and Payment Services:Plans to raise up to Rs 4.55 billion (Rs 455 crore) via NCD issue.

Department of Telecommunications gave Bharti Airtel, Reliance Jio, Vodafone Idea and MTNL permission to conduct trials for use and application of 5G technology. The trial duration will be six months, including a two-month period for procurement and setting up of equipment. The operators have tied up with network equipment makers such as Ericsson, Nokia Corp., Samsung Telecommunications, and India’s Centre for Development of Telematics. Reliance JioInfocomm Ltd. will also be conducting trials using its indigenous technology.

Godrej Properties: Sees the second wave of Covid-19 pandemic impacting sales and construction of projects in the April-June period, but the slowdown is not likely to be as intense as last year, Executive Chairman Pirojsha Godrej said in a post-earnings investor call. The company saw a 25% loss of labour following the second wave. Further, the funds raised via a recent QIP issue are likely to be deployed in FY22 and FY23 for land and project acquisition opportunities, Godrej said.

Wipro: To set up an innovation centre in Holborn, London. The company will invest £16 million over the next four years in the 20,000 sq. ft. innovation centre which will serve as Wipro’s flagship centre in the United Kingdom and offer technology expertise to companies in the U.K. and globally. The centre will be integral to providing advanced digital, cybersecurity and cloud expertise to both established and upcoming enterprises.

HDFC: Sold part of pledged shares in Reliance Infrastructure. The company sold 52.88 lakh shares, representing 2.01% of the share capital, of Reliance Infra for Rs 22.86 crore between March 24 and May 3.

InterGlobe Aviation: Board to meet on May 7 to consider raising funds by issue of equity shares through QIP.

Hindustan Aeronautics: Has signed a memorandum of understanding with Rolls-Royce to establish packaging, installation, marketing and services support for Rolls-Royce MT30 marine engines in India.

Affle (India): Approved closure of QIP on May 4 and issue a price of Rs 5,200 per share for 11.53 lakh shares to be allotted to the eligible QIBs. The issue price is at a discount of 4.11% to the floor price of Rs 5,422.94 per share.

Nifty Earnings: Tata Steel

Non-Nifty Earnings: Adani Enterprises, Adani Green Energy, Angel Broking, Blue Dart Express, Ceat, Craftsman Automation,Deepak Nitrite, Gillette India, JM Financial, Kirloskar Ferrous Industries, Maithan Alloys, Oracle Financial Services Software, ABB Power Products and Systems India, Shalby

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