*SGX Nifty -25 pts (15208) from last trade 15233*

Nikkei +90 pts
Hangseng +145 pts
Now @6.52am

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*Today's Corporate Action*
*26th May Ex Date*
None

*Today's Key Results/Board Meetings*
*26-May-21*
ALLSEC
Audited Results

APOLLOFI
Audited Results

ARENTERP
General

ARVIND
Audited Results;
Final Dividend; General

ASMTEC
Audited Results;
Final Dividend

ASTRAMICRO
Audited Results;
Final Dividend

BERGEPAINT
Audited Results; Dividend

BGWTATO
Audited Results

BOMBCYC
Audited Results;
Final Dividend

BPCL
Audited Results;
Final Dividend

BURGERKING
Audited Results

CIFL
Audited Results; Final Dividend; Preferential Issue of shares

COSMOFE
Audited Results

CUMMINSIND
Audited Results;
Final Dividend

DAAWAT
Audited Results

DATAMATICS
Audited Results;
Final Dividend

FDC
Audited Results

FMNL
Audited Results

GABRIEL
Audited Results;
Final Dividend

HINDCOMPOS
Final Dividend;
Quarterly Results

HNDFDS
Audited Results

INFLAME
Preferential Issue of shares

INTEGRAEN
Audited Results

JKIL
Audited Results; Dividend

JTEKTINDIA
Audited Results;
Final Dividend

KKCL
Audited Results;
Final Dividend

MAFATIND
Audited Results

MANAPPURAM
Audited Results;
Interim Dividend; General

MOLDTKPAC
Audited Results;
Final Dividend

MPSLTD
Audited Results

NDRAUTO
Audited Results;
Final Dividend

NOVIS
Preferential Issue of shares

OTCO
Audited Results

PADAMCO
Audited Results

PATINTLOG
Audited Results;
Final Dividend

PFIZER
Audited Results; Dividend

PRICOLLTD
Audited Results

SAHYADRI
Audited Results;
Final Dividend; General

SAKSOFT
A.G.M.;
Audited Results; Dividend

SAYAJIIND
Audited Results;
Final Dividend; General;
Quarterly Results

SHARDACROP
Audited Results;
Final Dividend

SHIL
Audited Results; Final Dividend; General

SHREYAS
Audited Results; Dividend; General

SICAGEN
Audited Results;
Final Dividend

SKMEGGPROD
Audited Results

SUPRAP
General

SURYAINDIA
Audited Results; General

THEINVEST
Audited Results

TIMESGTY
Audited Results

TIRUMALCHM
Audited Results; Dividend

TOWERINFRA
General

TPLPLAST
Audited Results;
Final Dividend

UFO
Audited Results

UNIPHOS
Audited Results; Dividend

VGUARD
Audited Results; Dividend

VHL
Audited Results; Dividend

VISHWARAJ
Audited Results; Final Dividend; Stock  Split

ZENLABS
Audited Results

*Economic Times*
*Business Standard*
Ø  RBI meets heads of private sector banks to assess Covid impact
Ø  CIL's coal allocation to power sector under e-auction drops 28% in April
Ø  India's foodgrain output to rise 2.66% to record 305.43 MT in 2020-21, says government
Ø  HPCL shuts 70,000 bpd fire-hit crude unit at Vizag refinery
Ø  BPCL may sell some stake in IGL, Petronet to shed promoter status
Ø  Britain opens 14-week consultation to fire 'starting gun' on FTA with India
Ø  HDFC to raise up to Rs 7,000 cr by issuing bonds on private placement basis
Ø  Adani Total, Apollo Hospitals, Chola could move to MF large-cap universe
Ø  PharmEasy acquires Medlife, becomes India's largest e-pharma company
Ø  Thermax March-quarter net jumps nearly three-fold to Rs 107 crore
Ø  AstraZeneca Pharma India Q4 net profit up nearly 3-fold to Rs 27.27 cr
Ø  Emami Q4 PAT up four-fold YoY to Rs 88 cr, drops 58% sequentially

*Business Line*
*Mint*
Ø  Barclays cuts India’s FY22 GDP estimate to 9.2%
Ø  India's Q4 GDP growth likely to be better than estimates
Ø  SBI research projects Q1FY22 real GDP growth at 10-15%
Ø  Piramal Group files application in NCLAT on DHFL
Ø  No major impact of pandemic on client deliverables: Infosys
Ø  Marico hopes margins will recover as copra prices fall
Ø  Low base of FY21 & good monsoon will help recovery in auto sales: India Ratings
Ø  Sentieo raises $20 million in Series B funding round
Ø  Pfizer ready to supply 5 crore Covid-19 doses to India this year: Report
Ø  Bitcoin slips below $38,000 in a retreat from Monday’s rally
Ø  Atlan raises $16 million in Series A funding led by Insight Partners

*Financial Express*
*Business  World*
Ø  NHPC awards Rs 188 cr contract to Tata Power Solar Systems
Ø  Strides Ventures announces new fund, targets corpus of up to Rs 1,875 crore
Ø  Alkem Labs Q4 profit up 30 pc at Rs 249 cr
Ø  RBI Framework 2.0: SBI Card Puts In Place Mechanism For COVID Stress Relief
Ø  Jaypee Infratech Case: Erstwhile Promoter JAL Demands Coc To Consider Its Offer

Rediff.com: BPCL may sell IGL, Petronet pie to shed promoter status.
https://www.rediff.com/business/report/bpcl-may-sell-some-igl-petronet-shares/20210525.htm

*CLSA: India strategy: Getting aggressive*

*India focus list: adding weight in banks (Axis Bank), cutting IT (HCL)*

Financials outperformed country benchmarks in 14 of the top-19 world markets YTD as investors view this sector as a great reflation trade. Despite quality names and an end to a multi-year painful credit cycle, financials have underperformed YTD in India, possibly due to uncertainty on economic normalisation due to the second Covid-19 wave. A recent peak in the wave should return investor focus to economic normalisation in the coming months, even as banks’ relative valuations are below the historical average and overweight of foreign institutional investors (FIIs) is at multi-year lows. We add Axis Bank to CLSA’s India focus portfolio, replacing HCL Tech, as we reduce weight in defensives after their strong outperformance in the last two months. This 13-stock portfolio has outperformed the Nifty by 19ppt YTD

*Defensives have outperformed in the last two months; we remove HCL Tech*
CLSA’s defensive index has outperformed the Nifty by 3ppt in the last two months (Offense wins games; defence wins titles), helped by strong performance of pharma and the power sector. After this, relative valuations of defensives are no longer as attractive.
To accommodate Axis Bank and to make our portfolio more inclined to play the domestic reflation trade, we remove HCL Tech from our CLSA India focus portfolio.
This 13-stock equal-weighted-focus portfolio has outperformed the Nifty by 19ppt YTD. Other than banks, materials (Hindalco and Tata Steel) remain our big overweights, where we find record light positioning for domestic MFs and FIIs.

IPL will tentatively start in 3rd week of September, 10 double-headers in three-week window.


https://altiusinvestech.com/company/Buy-sell-CSK-shares-unlisted-private#press

World Markets

Dow - 81
Nasdaq - 4
Dax + 26
Nikkei + 62
Hangseng + 126
Sgxnifty - 29 (15204)
Brent Crude 68.45
Dow Fut + 78
Dollar Index 89.65

Who’s Meeting Whom

Kirloskar Oil Engines: To meet SBI Mutual Fund on May 27.

VIP Industries: To meet Neuberger Berman Inc on May 26.

Trading Tweaks

Price Band Revised From 10% To 5%: Best Agrolife,

Price Band Revised From 20% To 10%: Century Plyboards (India)

Move Into Short-Term ASM Framework: Easy Trip Planners, Oriental Hotels

Move Out Of Short-Term ASM Framework: Nxtdigital, Sanghvi Movers, NACL Industries, Nath Bio-Genes (India), Avadh Sugar & Energy

Move Into ASM Framework: Tamilnadu PetroProducts, Kirloskar Brothers, Tata Teleservices (Maharashtra), Rajratan Global Wire, Century Plyboards (India)

Record Date Buyback And Dividend: Welspun India

Money Market Update

The rupee ended at 72.78 against the U.S. Dollar on Tuesday as compared to Monday's closing of 72.96.

Economic Times

 

Business Standard

Ø  RBI meets heads of private sector banks to assess Covid impact

Ø  CIL's coal allocation to power sector under e-auction drops 28% in April

Ø  India's foodgrain output to rise 2.66% to record 305.43 MT in 2020-21, says government

Ø  HPCL shuts 70,000 bpd fire-hit crude unit at Vizag refinery

Ø  BPCL may sell some stake in IGL, Petronet to shed promoter status

Ø  Britain opens 14-week consultation to fire 'starting gun' on FTA with India

 

Ø  HDFC to raise up to Rs 7,000 cr by issuing bonds on private placement basis

Ø  Adani Total, Apollo Hospitals, Chola could move to MF large-cap universe

Ø  PharmEasy acquires Medlife, becomes India's largest e-pharma company

Ø  Thermax March-quarter net jumps nearly three-fold to Rs 107 crore

Ø  AstraZeneca Pharma India Q4 net profit up nearly 3-fold to Rs 27.27 cr

Ø  Emami Q4 PAT up four-fold YoY to Rs 88 cr, drops 58% sequentially

Business Line

 

Mint

Ø  Barclays cuts India’s FY22 GDP estimate to 9.2%

Ø  India's Q4 GDP growth likely to be better than estimates

Ø  SBI research projects Q1FY22 real GDP growth at 10-15%

Ø  Piramal Group files application in NCLAT on DHFL

Ø  No major impact of pandemic on client deliverables: Infosys

Ø  Marico hopes margins will recover as copra prices fall

 

Ø  Low base of FY21 & good monsoon will help recovery in auto sales: India Ratings

Ø  Sentieo raises $20 million in Series B funding round

Ø  Pfizer ready to supply 5 crore Covid-19 doses to India this year: Report

Ø  Bitcoin slips below $38,000 in a retreat from Monday’s rally

Ø  Atlan raises $16 million in Series A funding led by Insight Partners

Financial Express

 

Business  World

Ø  NHPC awards Rs 188 cr contract to Tata Power Solar Systems

Ø  Strides Ventures announces new fund, targets corpus of up to Rs 1,875 crore

Ø  Alkem Labs Q4 profit up 30 pc at Rs 249 cr

 

Ø  RBI Framework 2.0: SBI Card Puts In Place Mechanism For COVID Stress Relief

Ø  Jaypee Infratech Case: Erstwhile Promoter JAL Demands Coc To Consider Its Offer

 

Stocks To Watch

HPCL: Shut one of the crude units at Vizag refinery on Tuesday, after an overheated line caught fire, said Chairman Mukesh Kumar Surana. The fire broke out at 3 pm and has been extinguished, the company said. No casualties were reported.

Hinduja Global Solutions: To hire up to 250 remote customer service representatives in Montreal, Quebec to support its ongoing growth of its Canadian Entity.

PNB Housing Finance: Executed a revised Trademark Agreement with Punjab National Bank on May 24. The existing brand arrangement dated December 7, 2009 will continue to govern use of PNB trademark until PNB’s shareholding in the company is 30% or more. Upon PNB’s shareholding falling below 30%, the new agreement will replace the existing agreement. Further, the Board of Directors of the company will meet on May 31 to consider fund raising by issue of equity shares.

Sun Pharma Advanced Research Company: Appointed Anil Raghavan as Chief Executive Officer for a term of five years i.e up to May 24, 2026. Further, Dilip Shanghvi has resigned as the Managing Director with immediate effect. He will continue to be associated with the board in his capacity as a non-executive director and Chairman

Vardhman Textiles: Yarn production up 11.35% year-on-year to 57,256 MT and sales up 6.66% YoY to 56,698 MT. Grey Fabric production up 10.28% quarter-on-quarter to 547 lakh meters and sales up 17.24% QoQ to 57 LM. Processed Fabric production up 5% QoQ to 357 LM and sales up 5.84% QoQ to 344 LM.

Zuari Agro Chemicals: Incurred a loss of Rs 2.5 crore due to the damages caused by Cyclone Tauktae to its fertilizer plant in Goa.

Mahindra Holidays & Resorts India: Appointed Sujit Vaidya as Chief Financial Officer with effect from June 1. Vaidya will replace Akhila Balachandar who will cease to be the CFO effective May 31.

Bajaj Electricals: Appointed EC Prasad, the existing Vice President – Finance and Finance Controller of the company, as Chief Financial Officer with effect from July 1.

Valiant Organics Appointed Mahek Chheda as Chief Financial Officer with effect from May 26. Chheda will replace Piyush Lakhani who has resigned on medical grounds.

Nagarjuna Fertilizers and Chemicals: Appointed Sudhakar Rao Annam as Chief Financial Officer with effect from May 24.

Nifty Earnings: BPCL

Non-Nifty Earnings: Allsec Technologies, Arvind, Astra Microwave Products, Berger Paints India, Burger King India,Capital India Finance, Cummins India, LT Foods, Datamatics Global Services, FDC, Gabriel India, Hindustan Composites, Hindustan Foods, J Kumar Infraprojects, Jtekt India, KIOCL, Kewal Kiran Clothing, Manappuram Finance, Mold-Tek Packaging, MPS, Pfizer, Pricol, Sharda Cropchem, Somany Home Innovation, The Investment Trust Of India, Thirumalai Chemicals, Uniphos Enterprises, Vardhman Holdings

*POLYPLEX CORP*
Q4 Cons Net profit 1.25B Rupees Vs 230M (YOY)
1.31B (QOQ)
Q4 Revenues 12.94B Rupees Vs 11.9B (YOY)
*Dividend*-17

*LAXMI ORGANIC INDUSTRIES*
Q4 Cons Net profit 363.4M Rupees Vs 100.4M (YOY) 452.1M (QOQ)
Q4 Revenues 5.2B Rupees Vs 3.87B (YOY)
*Dividend-* 0.5/shares

Good numbers by #LaxmiOrganic

Total income 470 Cr vs 342 Cr YOY

PBT 42.5 Cr vs 8.2 Cr YOY

PAT 31 Cr vs 13 Cr

EPS 1.34 vs 0.60

Full year EPS INR 5.40/-
Dividend 0.50/- Share

QoQ, profits are down because of higher expenses... Overall good numbers

Pledge Share Details

Adani Ports And Special Economic Zone: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 8 lakh shares on May 24.As reported on May 25.

Insider Trades

Ultramarine & Pigments: Promoter S Narayan sold 7,000 shares on May 24

*Praj Industries Outlines Its ‘String Of Pearls’ Strategy*

Praj Industries Ltd. targets to be a “string of pearls” company with multiple segments driving its earnings.

From ethanol and bioenergy to wastewater treatment, the company sees all its businesses contributing, Shishir Joshipura, managing director and chief executive officer at Praj Industries, said in an interview with BloombergQuint’s Niraj Shah.

*Ethanol*
India’s E20 plan envisaging 20% blending of ethanol by 2025 in petrol is also now the company’s core programme, Joshipura said. Additional orders that need to be put out for machinery would total up to roughly Rs 14,000 crore by then, he said.

Praj Industries will be able to maintain about two-thirds of its market share in the business, according to Joshipura. Investments in technology over the years will help the company keep its edge and the company would be able to bag at least two-thirds of the orders, he said.

If blending in diesel starts as well, it will be an added opportunity for Praj Industries and other companies in this segment.

*Biogas*
India plans to increase the share of gas in the nation’s fuel mix. Under the government’s Sustainable Alternative Towards Affordable Transportation programme, India seeks to set up 5,000 plants generating biogas of stricter specifications than CNG, he said.

*Wastewater*
Zero liquid discharge is becoming an important aspect of wastewater disposal and Praj Industries’ role is well established, Joshipura said.
“I am not aware of any other water treatment company in India, which has its core strength in microbiology like Praj,” he said.

Joshipura said if the last quarter of FY21 is a barometer of what the company can consistently do, the company will not need to incur very large capex costs to increase output. It, however, will continue to invest heavily in R&D to stay ahead of the race in the field of sustainable bioenergy, he said.
Kotak Securities estimates that Praj Industry can double its revenues and treble its profits by FY23. In FY21, the company clocked a revenue of Rs 1,305 crore and a net profit of Rs 81 crore.

Joshipura said that kind of growth is possible if the ecosystem develops as it is expected.

The stock has already surpassed Kotak's 12-month price target of Rs 315 and Phillip Capital's Rs 320 apiece. Shares of Praj Industries have surged 175% so far this year. The benchmark Nifty 50 is up about 9% year to date.

*Noted Bulk Deals*

*-------------------*
*BSE*
*-------------------*
*ANUP* || Hdfc Mutual Fund || *Sell* || 85842 Shrs @ Rs 682 || Rs 6 cr
*NSE*
*-------------------*
*AARTISURF* || Chandrakant Vallabhji Gogri || *Sell* || 80000 Shrs @ Rs 1404.22 || Rs 11 cr
*AMARAJABAT* || Clarios Arbl Holding Lp || *Sell* || 17081250 Shrs @ Rs 747.22 || Rs 1276 cr
*AMARAJABAT* || Ghisallo Master Fund Lp || *Buy* || 1400000 Shrs @ Rs 746 || Rs 104 cr
*AMARAJABAT* || Integrated Core Strategies Asia Pte Ltd || *Buy* || 1750000 Shrs @ Rs 746 || Rs 131 cr
*AMARAJABAT* || Morgan Stanley Asia Singapore Pte Odi || *Buy* || 1806000 Shrs @ Rs 746 || Rs 135 cr
*ANUP* || Hdfc Mutual Fund A/C Hdfc Midcap Opportunities Fund || *Sell* || 85850 Shrs @ Rs 682.02 || Rs 6 cr
*ORIENTHOT* || Birla Dividend Yield Plus || *Sell* || 1215016 Shrs @ Rs 39.8 || Rs 5 cr
*SANDHAR* || Nippon India Mutual Fund || *Buy* || 400000 Shrs @ Rs 240.53 || Rs 10 cr

*# TODAY MORNING MKT VIEW WEDNESDAY DATED (26/5/21)*


*#NIFTY*
RANGE :- 15100-15350

SUPPORT :- 15175-15150-15100

RESISTANCE :- 15275-15300-15335


*#BANK NIFTY*

RANGE :- 34000-35200

Support :- 34500-34400-34200

Resistance :- 35000-35200-35500

Stocks Ban In F&O:

Amaraja Battery,
Canara Bank,
PNB